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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tractor Supply Company | NASDAQ:TSCO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.51 | 1.32% | 270.21 | 270.21 | 285.00 | 271.85 | 266.47 | 267.94 | 1,135,146 | 01:00:00 |
☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended | March 27, 2021 |
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from | to |
Delaware | 13-3139732 | ||||||||||||||||
(State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) | ||||||||||||||||
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Common Stock, $0.008 par value | TSCO | NASDAQ Global Select Market |
Large accelerated filer | ☑ |
Accelerated filer
|
☐
|
|||||||||||
Non-accelerated filer | ☐ |
Smaller reporting company
|
☐
|
|||||||||||
Emerging growth company
|
☐
|
Class | Outstanding at April 24, 2021 | |||||||
Common Stock, $0.008 par value | 115,255,974 |
Page No. | ||||||||
March 27,
2021 |
December 26,
2020 |
March 28,
2020 |
|||||||||||||||
ASSETS | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and cash equivalents | $ | 1,149,930 | $ | 1,341,756 | $ | 461,473 | |||||||||||
Inventories | 2,084,677 | 1,783,270 | 1,905,913 | ||||||||||||||
Prepaid expenses and other current assets | 146,227 | 133,659 | 112,853 | ||||||||||||||
Total current assets | 3,380,834 | 3,258,685 | 2,480,239 | ||||||||||||||
Property and equipment, net | 1,287,004 | 1,248,960 | 1,143,189 | ||||||||||||||
Operating lease right-of-use assets | 2,589,418 | 2,423,881 | 2,228,597 | ||||||||||||||
Goodwill and other intangible assets | 55,520 | 55,520 | 124,492 | ||||||||||||||
Deferred income taxes | 11,428 | 31,586 | — | ||||||||||||||
Other assets | 35,475 | 30,484 | 25,888 | ||||||||||||||
Total assets | $ | 7,359,679 | $ | 7,049,116 | $ | 6,002,405 | |||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | $ | 1,181,924 | $ | 976,096 | $ | 887,938 | |||||||||||
Accrued employee compensation | 68,102 | 119,701 | 31,146 | ||||||||||||||
Other accrued expenses | 377,777 | 324,813 | 234,460 | ||||||||||||||
Current portion of long-term debt | — | — | 30,000 | ||||||||||||||
Current portion of finance lease liabilities | 4,674 | 4,554 | 4,172 | ||||||||||||||
Current portion of operating lease liabilities | 303,222 | 298,696 | 281,620 | ||||||||||||||
Income taxes payable | 40,226 | 19,938 | 24,789 | ||||||||||||||
Total current liabilities | 1,975,925 | 1,743,798 | 1,494,125 | ||||||||||||||
Long-term debt | 984,838 | 984,324 | 989,074 | ||||||||||||||
Finance lease liabilities, less current portion | 31,890 | 33,096 | 31,157 | ||||||||||||||
Operating lease liabilities, less current portion | 2,399,246 | 2,220,904 | 2,051,885 | ||||||||||||||
Deferred income taxes | — | — | 1,796 | ||||||||||||||
Other long-term liabilities | 115,481 | 143,154 | 80,645 | ||||||||||||||
Total liabilities | 5,507,380 | 5,125,276 | 4,648,682 | ||||||||||||||
Stockholders’ equity: | |||||||||||||||||
Preferred stock | — | — | — | ||||||||||||||
Common stock | 1,409 | 1,401 | 1,391 | ||||||||||||||
Additional paid-in capital | 1,154,451 | 1,095,500 | 978,837 | ||||||||||||||
Treasury stock | (3,610,362) | (3,356,953) | (3,277,215) | ||||||||||||||
Accumulated other comprehensive loss | (1,118) | (3,243) | (5,051) | ||||||||||||||
Retained earnings | 4,307,919 | 4,187,135 | 3,655,761 | ||||||||||||||
Total stockholders’ equity | 1,852,299 | 1,923,840 | 1,353,723 | ||||||||||||||
Total liabilities and stockholders’ equity | $ | 7,359,679 | $ | 7,049,116 | $ | 6,002,405 | |||||||||||
For the Fiscal Three
Months Ended |
|||||||||||||||||||||||
March 27,
2021 |
March 28,
2020 |
||||||||||||||||||||||
Net sales | $ | 2,792,336 | $ | 1,959,188 | |||||||||||||||||||
Cost of merchandise sold | 1,808,556 | 1,297,939 | |||||||||||||||||||||
Gross profit | 983,780 | 661,249 | |||||||||||||||||||||
Selling, general and administrative expenses | 693,190 | 497,275 | |||||||||||||||||||||
Depreciation and amortization | 60,054 | 51,436 | |||||||||||||||||||||
Operating income | 230,536 | 112,538 | |||||||||||||||||||||
Interest expense, net | 7,221 | 5,049 | |||||||||||||||||||||
Income before income taxes | 223,315 | 107,489 | |||||||||||||||||||||
Income tax expense | 41,961 | 23,712 | |||||||||||||||||||||
Net income | $ | 181,354 | $ | 83,777 | |||||||||||||||||||
Net income per share – basic | $ | 1.56 | $ | 0.72 | |||||||||||||||||||
Net income per share – diluted | $ | 1.55 | $ | 0.71 | |||||||||||||||||||
Weighted average shares outstanding: | |||||||||||||||||||||||
Basic | 116,153 | 116,738 | |||||||||||||||||||||
Diluted | 117,227 | 117,432 | |||||||||||||||||||||
Dividends declared per common share outstanding | $ | 0.52 | $ | 0.35 |
For the Fiscal Three
Months Ended |
|||||||||||||||||||||||
March 27,
2021 |
March 28,
2020 |
||||||||||||||||||||||
Net income | $ | 181,354 | $ | 83,777 | |||||||||||||||||||
Other comprehensive income/(loss): | |||||||||||||||||||||||
Change in fair value of interest rate swaps, net of taxes | 2,125 | (5,250) | |||||||||||||||||||||
Total other comprehensive income/(loss) | 2,125 | (5,250) | |||||||||||||||||||||
Total comprehensive income | $ | 183,479 | $ | 78,527 |
Common Stock |
Additional
Paid-in Capital |
Treasury
Stock |
Accum. Other Comp. Income/(Loss) |
Retained
Earnings |
Total
Stockholders’ Equity |
||||||||||||||||||||||||||||||||||||
Shares | Dollars | ||||||||||||||||||||||||||||||||||||||||
Stockholders’ equity at
December 26, 2020 |
116,246 | $ | 1,401 | $ | 1,095,500 | $ | (3,356,953) | $ | (3,243) | $ | 4,187,135 | $ | 1,923,840 | ||||||||||||||||||||||||||||
Common stock issuance under stock award plans & ESPP
|
941 | 8 | 58,700 | 58,708 | |||||||||||||||||||||||||||||||||||||
Share-based compensation expense | 12,318 | 12,318 | |||||||||||||||||||||||||||||||||||||||
Repurchase of shares to satisfy tax obligations
|
(12,067) | (12,067) | |||||||||||||||||||||||||||||||||||||||
Repurchase of common stock
|
(1,600) | (253,409) | (253,409) | ||||||||||||||||||||||||||||||||||||||
Cash dividends paid to stockholders | (60,570) | (60,570) | |||||||||||||||||||||||||||||||||||||||
Change in fair value of interest rate swaps, net of taxes
|
2,125 | 2,125 | |||||||||||||||||||||||||||||||||||||||
Net income | 181,354 | 181,354 | |||||||||||||||||||||||||||||||||||||||
Stockholders’ equity at
March 27, 2021 |
115,587 | $ | 1,409 | $ | 1,154,451 | $ | (3,610,362) | $ | (1,118) | $ | 4,307,919 | $ | 1,852,299 | ||||||||||||||||||||||||||||
Common Stock |
Additional
Paid-in
Capital
|
Treasury
Stock
|
Accum. Other Comp. Income/(Loss) |
Retained
Earnings
|
Total
Stockholders’
Equity
|
||||||||||||||||||||||||||||||||||||
Shares | Dollars | ||||||||||||||||||||||||||||||||||||||||
Stockholders’ equity at
December 28, 2019 |
118,165 | $ | 1,389 | $ | 966,698 | $ | (3,013,996) | $ | 199 | $ | 3,612,833 | $ | 1,567,123 | ||||||||||||||||||||||||||||
Common stock issuance under stock award plans & ESPP
|
280 | 2 | 10,601 | 10,603 | |||||||||||||||||||||||||||||||||||||
Share-based compensation expense | 6,945 | 6,945 | |||||||||||||||||||||||||||||||||||||||
Repurchase of shares to satisfy tax obligations
|
(5,407) | (5,407) | |||||||||||||||||||||||||||||||||||||||
Repurchase of common stock
|
(2,853) | (263,219) | (263,219) | ||||||||||||||||||||||||||||||||||||||
Cash dividends paid to stockholders | (40,849) | (40,849) | |||||||||||||||||||||||||||||||||||||||
Change in fair value of interest rate swaps, net of taxes
|
(5,250) | (5,250) | |||||||||||||||||||||||||||||||||||||||
Net income | 83,777 | 83,777 | |||||||||||||||||||||||||||||||||||||||
Stockholders’ equity at
March 28, 2020 |
115,592 | $ | 1,391 | $ | 978,837 | $ | (3,277,215) | $ | (5,051) | $ | 3,655,761 | $ | 1,353,723 | ||||||||||||||||||||||||||||
For the Fiscal Three Months Ended | |||||||||||
March 27,
2021 |
March 28,
2020 |
||||||||||
Cash flows from operating activities: | |||||||||||
Net income | $ | 181,354 | $ | 83,777 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 60,054 | 51,436 | |||||||||
Loss/(gain) on disposition of property and equipment | 108 | (315) | |||||||||
Share-based compensation expense | 12,318 | 6,945 | |||||||||
Deferred income taxes | 20,158 | 1,643 | |||||||||
Change in assets and liabilities: | |||||||||||
Inventories | (301,407) | (303,132) | |||||||||
Prepaid expenses and other current assets | (12,568) | (11,988) | |||||||||
Accounts payable | 205,828 | 244,902 | |||||||||
Accrued employee compensation | (51,599) | (8,609) | |||||||||
Other accrued expenses | 55,305 | (12,352) | |||||||||
Income taxes | 20,288 | 18,805 | |||||||||
Other | (12,722) | 12,820 | |||||||||
Net cash provided by operating activities | 177,117 | 83,932 | |||||||||
Cash flows from investing activities: | |||||||||||
Capital expenditures | (100,741) | (29,648) | |||||||||
Proceeds from sale of property and equipment | 222 | 320 | |||||||||
Net cash used in investing activities | (100,519) | (29,328) | |||||||||
Cash flows from financing activities: | |||||||||||
Borrowings under debt facilities | — | 809,000 | |||||||||
Repayments under debt facilities | — | (186,500) | |||||||||
Principal payments under finance lease liabilities | (1,086) | (1,000) | |||||||||
Repurchase of shares to satisfy tax obligations | (12,067) | (5,407) | |||||||||
Repurchase of common stock | (253,409) | (263,219) | |||||||||
Net proceeds from issuance of common stock | 58,708 | 10,603 | |||||||||
Cash dividends paid to stockholders | (60,570) | (40,849) | |||||||||
Net cash (used in)/provided by financing activities | (268,424) | 322,628 | |||||||||
Net change in cash and cash equivalents | (191,826) | 377,232 | |||||||||
Cash and cash equivalents at beginning of period | 1,341,756 | 84,241 | |||||||||
Cash and cash equivalents at end of period | $ | 1,149,930 | $ | 461,473 | |||||||
Supplemental disclosures of cash flow information: | |||||||||||
Cash paid during the period for: | |||||||||||
Interest | $ | 4,216 | $ | 5,781 | |||||||
Income taxes | 2,071 | 1,358 | |||||||||
Supplemental disclosures of non-cash activities: | |||||||||||
Non-cash accruals for construction in progress | $ | 10,301 | $ | 7,046 | |||||||
Increase of operating lease assets and liabilities from new or modified leases | 238,494 | 108,872 | |||||||||
Increase of finance lease assets and liabilities from new or modified leases | — | 1,904 | |||||||||
Fiscal Three Months Ended | |||||
March 27, 2021 | |||||
Stock options granted | 235,607 | ||||
Weighted average exercise price | $ | 143.18 | |||
Weighted average grant date fair value per option | $ | 30.13 |
Fiscal Three Months Ended | |||||
March 27, 2021 | |||||
Restricted stock units granted | 245,961 | ||||
Performance-based restricted share units granted (a)
|
56,882 | ||||
Weighted average grant date fair value per share | $ | 139.97 |
Fiscal Three Months Ended | Fiscal Three Months Ended | ||||||||||||||||||||||||||||||||||
March 27, 2021 | March 28, 2020 | ||||||||||||||||||||||||||||||||||
Income | Shares |
Per Share
Amount |
Income | Shares |
Per Share
Amount |
||||||||||||||||||||||||||||||
Basic net income per share: | $ | 181,354 | 116,153 | $ | 1.56 | $ | 83,777 | 116,738 | $ | 0.72 | |||||||||||||||||||||||||
Dilutive effect of share-based awards | — | 1,074 | (0.01) | — | 694 | (0.01) | |||||||||||||||||||||||||||||
Diluted net income per share: | $ | 181,354 | 117,227 | $ | 1.55 | $ | 83,777 | 117,432 | $ | 0.71 |
March 27,
2021 |
December 26,
2020 |
March 28,
2020 |
||||||||||||||||||
1.75% Senior Notes due 2030 | $ | 650.0 | $ | 650.0 | $ | — | ||||||||||||||
3.70% Senior Notes due 2029 | 150.0 | 150.0 | 150.0 | |||||||||||||||||
Senior Credit Facility: | ||||||||||||||||||||
February 2016 Term Loan | — | — | 140.0 | |||||||||||||||||
June 2017 Term Loan | — | — | 85.0 | |||||||||||||||||
March 2020 Term Loan | — | — | 200.0 | |||||||||||||||||
November 2020 Term Loan | 200.0 | 200.0 | — | |||||||||||||||||
Revolving credit loans | — | — | 445.0 | |||||||||||||||||
Total outstanding borrowings | 1,000.0 | 1,000.0 | 1,020.0 | |||||||||||||||||
Less: unamortized debt discounts and issuance costs | (15.2) | (15.7) | (0.9) | |||||||||||||||||
Total debt | 984.8 | 984.3 | 1,019.1 | |||||||||||||||||
Less: current portion of long-term debt | — | — | (30.0) | |||||||||||||||||
Long-term debt | $ | 984.8 | $ | 984.3 | $ | 989.1 | ||||||||||||||
Outstanding letters of credit | $ | 60.3 | $ | 48.7 | $ | 39.0 |
Derivatives Designated
as Cash Flow Hedges
|
Balance Sheet Location |
March 27,
2021 |
December 26,
2020 |
March 28,
2020 |
||||||||||||||||||||||
Interest rate swaps (short-term portion) | Other accrued expenses | $ | 1,229 | $ | 1,227 | $ | 2,512 | |||||||||||||||||||
Interest rate swaps (long-term portion) | Other long-term liabilities | 274 | 3,137 | 4,277 | ||||||||||||||||||||||
Total derivative liabilities | $ | 1,503 | $ | 4,364 | $ | 6,789 |
March 27,
2021 |
December 26,
2020 |
March 28,
2020 |
||||||||||||||||||
Beginning fiscal year AOCI balance | $ | (3,243) | $ | 199 | $ | 199 | ||||||||||||||
Current fiscal period gain/(loss) recognized in OCI | 2,125 | (5,666) | (5,250) | |||||||||||||||||
Amounts reclassified from AOCI | — | 2,224 | — | |||||||||||||||||
Other comprehensive gain/(loss), net of tax | 2,125 | (3,442) | (5,250) | |||||||||||||||||
Ending fiscal period AOCI balance | $ | (1,118) | $ | (3,243) | $ | (5,051) |
Fiscal Three Months Ended | |||||||||||||||||||||||||||||
Financial Statement Location |
March 27,
2021 |
March 28,
2020 |
|||||||||||||||||||||||||||
Amount of gains/(losses) recognized in OCI during the period | Other comprehensive income/(loss) | $ | 2,861 | $ | (7,056) |
Fiscal Three Months Ended | |||||||||||||||||||||||
March 27,
2021 |
March 28,
2020 |
||||||||||||||||||||||
Income tax expense/(benefit) of interest rate swaps on AOCI | $ | 736 | $ | (1,806) |
Date Declared |
Dividend Amount
Per Share of Common Stock |
Record Date | Date Paid | |||||||||||||||||
January 27, 2021 | $ | 0.52 | February 22, 2021 | March 9, 2021 | ||||||||||||||||
February 5, 2020 | $ | 0.35 | February 24, 2020 | March 10, 2020 |
Fiscal Three Months Ended | |||||||||||||||||||||||
March 27,
2021 |
March 28,
2020 |
||||||||||||||||||||||
Total number of shares repurchased | 1,600 | 2,853 | |||||||||||||||||||||
Average price paid per share | $ | 158.35 | $ | 92.28 | |||||||||||||||||||
Total cash paid for share repurchases | $ | 253,409 | $ | 263,219 |
Fiscal Three Months Ended | |||||||||||||||||||||||
Product Category: |
March 27,
2021 |
March 28,
2020 |
|||||||||||||||||||||
Livestock and Pet | 51 | % | 54 | % | |||||||||||||||||||
Hardware, Tools and Truck | 21 | 20 | |||||||||||||||||||||
Seasonal, Gift and Toy Products | 18 | 17 | |||||||||||||||||||||
Clothing and Footwear | 7 | 6 | |||||||||||||||||||||
Agriculture | 3 | 3 | |||||||||||||||||||||
Total | 100 | % | 100 | % |
Fiscal Three Months Ended | |||||||||||
Store Count Information: |
March 27,
2021 |
March 28,
2020 |
|||||||||
Tractor Supply | |||||||||||
Beginning of period | 1,923 | 1,844 | |||||||||
New stores opened | 21 | 20 | |||||||||
Stores closed | — | (1) | |||||||||
End of period | 1,944 | 1,863 | |||||||||
Petsense | |||||||||||
Beginning of period | 182 | 180 | |||||||||
New stores opened | 2 | — | |||||||||
Stores closed | (7) | — | |||||||||
End of period | 177 | 180 | |||||||||
Consolidated, end of period | 2,121 | 2,043 | |||||||||
Stores relocated | — | 1 |
Percent of Net Sales | |||||||||||
Fiscal Three Months Ended | |||||||||||
Product Category: |
March 27,
2021 |
March 28,
2020 |
|||||||||
Livestock and Pet | 51 | % | 54 | % | |||||||
Hardware, Tools and Truck | 21 | 20 | |||||||||
Seasonal, Gift and Toy Products | 18 | 17 | |||||||||
Clothing and Footwear | 7 | 6 | |||||||||
Agriculture | 3 | 3 | |||||||||
Total | 100 | % | 100 | % |
March 27,
2021 |
December 26,
2020 |
Variance |
March 28,
2020 |
Variance | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,149.9 | $ | 1,341.8 | $ | (191.9) | $ | 461.4 | $ | 688.5 | |||||||||||||||||||
Inventories | 2,084.7 | 1,783.3 | 301.4 | 1,905.9 | 178.8 | ||||||||||||||||||||||||
Prepaid expenses and other current assets | 146.2 | 133.6 | 12.6 | 112.9 | 33.3 | ||||||||||||||||||||||||
Total current assets | 3,380.8 | 3,258.7 | 122.1 | 2,480.2 | 900.6 | ||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Accounts payable | 1,181.9 | 976.1 | 205.8 | 887.9 | 294.0 | ||||||||||||||||||||||||
Accrued employee compensation | 68.1 | 119.7 | (51.6) | 31.1 | 37.0 | ||||||||||||||||||||||||
Other accrued expenses | 377.8 | 324.8 | 53.0 | 234.5 | 143.3 | ||||||||||||||||||||||||
Current portion of long-term debt | — | — | — | 30.0 | (30.0) | ||||||||||||||||||||||||
Current portion of finance lease liabilities | 4.7 | 4.6 | 0.1 | 4.2 | 0.5 | ||||||||||||||||||||||||
Current portion of operating lease liabilities | 303.2 | 298.7 | 4.5 | 281.6 | 21.6 | ||||||||||||||||||||||||
Income taxes payable | 40.2 | 19.9 | 20.3 | 24.8 | 15.4 | ||||||||||||||||||||||||
Total current liabilities | 1,975.9 | 1,743.8 | 232.1 | 1,494.1 | 481.8 | ||||||||||||||||||||||||
Working capital | $ | 1,404.9 | $ | 1,514.9 | $ | (110.0) | $ | 986.1 | $ | 418.8 |
March 27,
2021 |
December 26,
2020 |
March 28,
2020 |
||||||||||||||||||
1.75% Senior Notes due 2030 | $ | 650.0 | $ | 650.0 | $ | — | ||||||||||||||
3.70% Senior Notes due 2029 | 150.0 | 150.0 | 150.0 | |||||||||||||||||
Senior Credit Facility: | ||||||||||||||||||||
February 2016 Term Loan | — | — | 140.0 | |||||||||||||||||
June 2017 Term Loan | — | — | 85.0 | |||||||||||||||||
March 2020 Term Loan | — | — | 200.0 | |||||||||||||||||
November 2020 Term Loan | 200.0 | 200.0 | — | |||||||||||||||||
Revolving credit loans | — | — | 445.0 | |||||||||||||||||
Total outstanding borrowings | 1,000.0 | 1,000.0 | 1,020.0 | |||||||||||||||||
Less: unamortized debt discounts and issuance costs | (15.2) | (15.7) | (0.9) | |||||||||||||||||
Total debt | 984.8 | 984.3 | 1,019.1 | |||||||||||||||||
Less: current portion of long-term debt | — | — | (30.0) | |||||||||||||||||
Long-term debt | $ | 984.8 | $ | 984.3 | $ | 989.1 | ||||||||||||||
Outstanding letters of credit | $ | 60.3 | $ | 48.7 | $ | 39.0 |
Fiscal Three Months Ended | |||||||||||||||||
March 27,
2021 |
March 28,
2020 |
Variance | |||||||||||||||
Net income | $ | 181.4 | $ | 83.8 | $ | 97.6 | |||||||||||
Depreciation and amortization | 60.1 | 51.4 | 8.7 | ||||||||||||||
Share-based compensation expense | 12.3 | 6.9 | 5.4 | ||||||||||||||
Deferred income taxes | 20.2 | 1.6 | 18.6 | ||||||||||||||
Inventories and accounts payable | (95.6) | (58.2) | (37.4) | ||||||||||||||
Prepaid expenses and other current assets | (12.6) | (12.0) | (0.6) | ||||||||||||||
Accrued expenses | 3.7 | (21.0) | 24.7 | ||||||||||||||
Income taxes | 20.3 | 18.8 | 1.5 | ||||||||||||||
Other, net | (12.7) | 12.6 | (25.3) | ||||||||||||||
Net cash provided by operating activities | $ | 177.1 | $ | 83.9 | $ | 93.2 |
Fiscal Three Months Ended | |||||||||||
March 27,
2021 |
March 28,
2020 |
||||||||||
Existing stores | $ | 48.0 | $ | 6.9 | |||||||
Information technology | 30.9 | 9.0 | |||||||||
New and relocated stores and stores not yet opened | 12.0 | 11.9 | |||||||||
Distribution center capacity and improvements | 8.3 | 0.3 | |||||||||
Corporate and other | 1.5 | 1.5 | |||||||||
Total capital expenditures | $ | 100.7 | $ | 29.6 | |||||||
Fiscal Three Months Ended | |||||||||||||||||
March 27,
2021 |
March 28,
2020 |
Variance | |||||||||||||||
Net borrowings and repayments under debt facilities | $ | — | $ | 622.5 | $ | (622.5) | |||||||||||
Repurchase of common stock | (253.4) | (263.2) | 9.8 | ||||||||||||||
Net proceeds from issuance of common stock | 58.7 | 10.6 | 48.1 | ||||||||||||||
Cash dividends paid to stockholders | (60.6) | (40.8) | (19.8) | ||||||||||||||
Other, net | (13.1) | (6.5) | (6.6) | ||||||||||||||
Net cash (used in)/provided by financing activities | $ | (268.4) | $ | 322.6 | $ | (591.0) |
Date Declared |
Dividend Amount
Per Share of Common Stock |
Record Date | Date Paid | |||||||||||||||||
January 27, 2021 | $ | 0.52 | February 22, 2021 | March 9, 2021 | ||||||||||||||||
February 5, 2020 | $ | 0.35 | February 24, 2020 | March 10, 2020 | ||||||||||||||||
Fiscal Three Months Ended | |||||||||||||||||||||||
March 27,
2021 |
March 28,
2020 |
||||||||||||||||||||||
Total number of shares repurchased | 1,600 | 2,853 | |||||||||||||||||||||
Average price paid per share | $ | 158.35 | $ | 92.28 | |||||||||||||||||||
Total cash paid for share repurchases | $ | 253,409 | $ | 263,219 |
- | Inventory valuation | - | Impairment of long-lived assets | ||||||||
- | Self-insurance reserves | - | Impairment of goodwill and other indefinite-lived intangible assets | ||||||||
Period | Total Number of Shares Purchased |
Average
Price Paid Per Share |
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs |
Maximum Dollar
Value of Shares That May Yet Be Purchased Under the Plans or Programs |
||||||||||||||||||||||
December 27, 2020 - January 23, 2021 | 172,500 | $ | 145.93 | 172,500 | $ | 1,118,686,709 | ||||||||||||||||||||
January 24, 2021 - February 20, 2021 |
(a)
|
542,496 | 150.40 | 461,502 | 1,049,167,055 | |||||||||||||||||||||
February 21, 2021 - March 27, 2021 | 966,352 | 164.24 | 966,352 | 890,467,715 | ||||||||||||||||||||||
Total | 1,681,348 | $ | 158.35 | 1,600,354 | $ | 890,467,715 |
TRACTOR SUPPLY COMPANY | |||||||||||
Date: | May 6, 2021 | By: | /s/ Kurt D. Barton | ||||||||
Kurt D. Barton | |||||||||||
Executive Vice President - Chief Financial Officer and Treasurer | |||||||||||
(Duly Authorized Officer and Principal Financial Officer) |
1 Year Tractor Supply Chart |
1 Month Tractor Supply Chart |
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