01—Abstract
Summary
Summary of the 10-K/A filed March 22, 2012. Cited figures are marked; the original filing is the authoritative source.
Dollar Tree, Inc.'s 2012 10-K filing primarily serves as an index to various material contracts, agreements, and corporate governance documents rather than detailing the company's financial performance or operational results for the year.
It references the consolidated financial statements filed on March 15, 2012, for detailed financial information. Key takeaways for investors from this filing focus on the company's structure and contractual commitments.
It outlines significant agreements such as the merger agreement, articles of incorporation and bylaws, and a substantial unsecured credit facility. Furthermore, it details a comprehensive suite of stock incentive, employee stock purchase, and executive compensation plans, alongside director compensation and deferred compensation arrangements, indicating a robust framework for executive and employee compensation and long-term incentives.
02—Key points
Key Highlights
- The filing is primarily an index of exhibits and contracts, with financial statements referenced from a previous filing.
- Key corporate documents like Articles of Incorporation and Bylaws are listed, showing amendments up to late 2011.
- A significant $550.0 million unsecured Credit Agreement dated February 20, 2008, is listed, indicating existing debt facilities.
- Extensive details on various stock incentive plans (SIP, EIP, EOEP), Employee Stock Purchase Plans (ESPP), and related amendments are provided, reflecting a focus on equity-based compensation.
- Multiple agreements related to executive compensation, including bonus plans, change-in-control retention agreements, and severance agreements, are referenced.
- Director compensation plans, including stock option and deferred compensation plans, are detailed.
- Lease agreements for store locations are included, highlighting the company's physical footprint and operational infrastructure.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2012, Dollar Tree, Inc. kept $0.07.
- Revenue$6.63B100.0%
- Cost of revenue−$4.25B64.1%
- Gross profit$2.38B35.9%
- Operating costs−$1.60B24.1%
- Operating income$782.1M11.8%
- Interest, other & tax−$293.8M4.4%
- Net income$488.3M7.4%
Where FY2012 revenue went
$6.63B- Cost of revenue: $4.25B, 64% of revenue
- SG&A: $1.60B, 24% of revenue
- Net income: $488.3M, 7.4% of revenue
- Interest, other & tax: $293.8M, 4.4% of revenue
Kept 7.4% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2012filed March 22, 2012Financial Statements
FY2012 against FY2011
| Line item | FY2012FY2011 | Change |
|---|---|---|
| Revenue | $6.63B$5.88B | +12.7% |
| Cost of Revenue | $4.25B$3.77B | +12.8% |
| Gross Profit | $2.38B$2.09B | +13.9% |
| SG&A Expenses | $1.60B$1.46B | +9.5% |
| Operating Income | $782.10M$630.00M | +24.1% |
| Net Income | $488.30M$397.30M | +22.9% |
| EPS (Basic) | $2.03$1.56 | +30.1% |
| EPS (Diluted) | $2.01$1.55 | +29.7% |
| Shares Outstanding (Basic) | 240.60M254.10M | −5.3% |
| Shares Outstanding (Diluted) | 242.40M256.00M | −5.3% |
05—Questions
Frequently Asked Questions
Where can I find Dollar Tree's financial performance for the fiscal year ending in early 2012?
This specific filing (Item 15) is an index of exhibits and does not contain the consolidated financial statements. You should refer to the Form 10-K filed on March 15, 2012, which contains the actual Consolidated Financial Statements for the fiscal year.
What types of compensation plans does Dollar Tree have in place?
Dollar Tree has a comprehensive set of compensation plans, including various Stock Incentive Plans (SIP), Employee Stock Purchase Plans (ESPP), Equity Incentive Plans (EIP), Executive Officer Equity Plans (EOEP), cash bonus plans, and non-employee director stock option and deferred compensation plans. These plans are designed to incentivize and retain executives and employees through equity and cash-based awards.
Does Dollar Tree have significant debt obligations?
Yes, the filing references a $550.0 million unsecured Credit Agreement dated February 20, 2008. While the specific terms and current outstanding balance are not detailed in this exhibit index, the presence of this credit agreement indicates a substantial debt facility.
Are there any significant corporate structure changes mentioned?
The filing includes an 'Agreement and Plan of Merger' dated February 27, 2008, among Dollar Tree Stores, Inc., Dollar Tree, Inc., and Dollar Tree Merger Sub, Inc. This indicates a significant past corporate restructuring, likely an internal merger or acquisition-related event.
06—Continue