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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-K/A

Amendment No. 1

 

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended January 2, 2021

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission file number 001-16769

WW INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

 

Virginia

11-6040273

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

675 Avenue of the Americas, 6th Floor, New York, New York 10010

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code:

(212589-2700

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, no par value

WW

The Nasdaq Stock Market LLC

Securities registered pursuant to Section 12(g) of the Act:

None

(Title of class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes       No  

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes       No  

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes       No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes       No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

 

Large accelerated filer  

Accelerated filer                   

 

Non-accelerated filer    

Smaller reporting company  

 

 

Emerging growth company  

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes      No  

 

The aggregate market value of the registrant’s common stock held by non-affiliates as of June 26, 2020 (based upon the closing price of $25.02 per share of common stock as of June 26, 2020, the last business day of the registrant’s second fiscal quarter of 2020, as quoted on The Nasdaq Stock Market LLC) was $1,194,189,688. For purposes of this computation, it is assumed that shares of common stock held by our directors, executive officers and certain shareholders as of June 26, 2020 would be deemed stock held by affiliates.

The number of shares of common stock outstanding as of February 1, 2021 was 68,983,051.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s definitive Proxy Statement for its 2021 annual meeting of shareholders are incorporated herein by reference in Part III, Items 10-14. Such Proxy Statement will be filed with the SEC no later than 120 days after the registrant’s fiscal year ended January 2, 2021.

 

 

 


 

 

EXPLANATORY NOTE

 

This Amendment No. 1 on Form 10-K/A (the “Amendment”) amends the Annual Report on Form 10-K of WW International, Inc. (the “Company”) for the fiscal year ended January 2, 2021, as filed with the Securities and Exchange Commission on February 25, 2021 (the “Original Filing”).

 

This Amendment is being filed solely to update the Report of Independent Registered Public Accounting Firm (the “Report”) to include a reference to the Company’s financial statement schedule which is listed in the index appearing under Item 8 of the Original Filing. Due to an inadvertent oversight by the Company’s independent registered public accounting firm, the reference to the financial statement schedule in the Report was omitted in the Original Filing. The updated Report does not modify PricewaterhouseCoopers LLP’s unqualified opinion on the Company’s consolidated financial statements included in the Original Filing.

 

In accordance with Rule 12b-15 of the Securities Exchange Act of 1934, as amended, this Amendment includes new certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as amended, dated as of the filing date of this Amendment. In addition, the consent filed as Exhibit 23.1 to this Amendment is dated as of the filing date of this Amendment.

 

Other than as expressly described above, no changes have been made to the Original Filing. This Amendment does not reflect events occurring after the Original Filing.

 

 

 

i


 

 

WW INTERNATIONAL, INC. AND SUBSIDIARIES

INDEX TO FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULE COVERED BY

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Items 15(a) (1) & (2)

 

 

Pages

Report of Independent Registered Public Accounting Firm

F-2

 

 

Consolidated Balance Sheets at January 2, 2021 and December 28, 2019

F-5

 

 

Consolidated Statements of Net Income for the fiscal years ended January 2, 2021, December 28, 2019,
and December 29, 2018 

F-6

 

 

Consolidated Statements of Comprehensive Income for the fiscal years ended January 2, 2021, December 28, 2019 and December 29, 2018 

F-7

 

 

Consolidated Statements of Changes in Total Deficit for the fiscal years ended January 2, 2021, December 28, 2019 and December 29, 2018

F-8

 

 

Consolidated Statements of Cash Flows for the fiscal years ended January 2, 2021, December 28, 2019,
and December 29, 2018

F-9

 

 

Notes to Consolidated Financial Statements

F-10

 

 

Schedule II—Valuation and Qualifying Accounts and Reserves for the fiscal years ended
January 2, 2021, December 28, 2019 and December 29, 2018

S-1

All other schedules are omitted for the reason that they are either not required, not applicable, not material or the information is included in the consolidated financial statements or notes thereto.

 

 

 

F-1


 

 

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Shareholders of WW International, Inc.

Opinions on the Financial Statements and Internal Control over Financial Reporting

We have audited the accompanying consolidated balance sheets of WW International, Inc. and its subsidiaries (the “Company”) as of January 2, 2021 and December 28, 2019, and the related consolidated statements of net income, of comprehensive income, of changes in total deficit and of cash flows for each of the three years in the period ended January 2, 2021, including the related notes and financial statement schedule listed in the accompanying index (collectively referred to as the “consolidated financial statements”). We also have audited the Company's internal control over financial reporting as of January 2, 2021, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of January 2, 2021 and December 28, 2019, and the results of its operations and its cash flows for each of the three years in the period ended January 2, 2021 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of January 2, 2021, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.

Change in Accounting Principle

As discussed in Note 4 to the consolidated financial statements, the Company changed the manner in which it accounts for leases in 2019.

Basis for Opinions

The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in Management’s Annual Report on Internal Control Over Financial Reporting appearing under Item 9A. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.

Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.


F-2


 

 

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Critical Audit Matters

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Goodwill and Indefinite-Lived Franchise Rights Acquired Impairment Assessments - United States and Canada

As described in Notes 2 and 7 to the consolidated financial statements, goodwill associated with the United States and Canada reporting units was $103 million and $42 million, respectively, as of January 2, 2021, and the indefinite-lived franchise rights acquired for the United States and Canada was $681 million and $57 million, respectively, as of January 2, 2021. Management reviews goodwill and indefinite-lived franchise rights acquired for potential impairment on at least an annual basis or more often if events so require. Potential goodwill impairment is identified by comparing the estimated fair value of a reporting unit to its carrying value, and potential impairment of indefinite-lived franchise rights acquired is identified by comparing the estimated fair value for these rights to their carrying value. Fair value of goodwill is estimated by management using a discounted cash flow approach. Fair value of indefinite-lived franchise rights acquired is estimated by management using a discounted cash flow approach referred to as the hypothetical start-up approach for franchise rights related to the Company’s Workshops + Digital business and a relief from royalty methodology for franchise rights related to the Company’s Digital business. Management uses various assumptions to determine fair value, including revenue growth rates, operating income margin, market-based royalty rate, and discount rates.

The principal considerations for our determination that performing procedures relating to the goodwill and indefinite-lived franchise rights acquired impairment assessments for the United States and Canada is a critical audit matter are the significant judgment by management when developing the fair value measurements; this in turn led to a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s significant assumptions related to revenue growth rates and operating income margins.

F-3


 

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management’s goodwill and indefinite-lived franchise rights acquired impairment assessments, including controls over the valuation of the Company’s reporting units and indefinite-lived franchise rights acquired. These procedures also included, among others, (i) testing management’s process for developing the fair value estimates of the United States and Canada reporting units and indefinite-lived franchise rights acquired for the United States and Canada, (ii) evaluating the appropriateness of the discounted cash flow approach and the relief from royalty methodology, (iii) testing the completeness and accuracy of underlying data used in the discounted cash flow approach and relief from royalty methodology, and (iv) evaluating the significant assumptions used by management related to revenue growth rates and operating income margins. Evaluating management’s assumptions related to revenue growth rates and operating income margins involved evaluating whether the assumptions used by management were reasonable considering the current and past performance of the reporting units and indefinite-lived franchise rights acquired and whether these assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in the evaluation of the Company’s discounted cash flow approach and relief from royalty methodology.

/s/ PricewaterhouseCoopers LLP

New York, New York

February 25, 2021

 

We have served as the Company’s auditor since 1999.

 

F-4


 

WW INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS AT

(IN THOUSANDS)

 

 

January 2,

 

 

December 28,

 

 

 

 

2021

 

 

2019

 

 

ASSETS

 

 

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

165,887

 

 

$

182,736

 

 

Receivables (net of allowances: January 2, 2021 - $2,298 and

   December 28, 2019 - $1,813)

 

 

34,555

 

 

 

30,519

 

 

Inventories

 

 

39,456

 

 

 

27,204

 

 

Prepaid income taxes

 

 

20,028

 

 

 

8,395

 

 

Prepaid marketing and advertising

 

 

15,656

 

 

 

15,954

 

 

Prepaid expenses and other current assets

 

 

23,610

 

 

 

30,582

 

 

TOTAL CURRENT ASSETS

 

 

299,192

 

 

 

295,390

 

 

Property and equipment, net

 

 

51,935

 

 

 

54,066

 

 

Operating lease assets

 

 

119,102

 

 

 

151,983

 

 

Franchise rights acquired

 

 

765,850

 

 

 

753,445

 

 

Goodwill

 

 

155,617

 

 

 

157,916

 

 

Other intangible assets, net

 

 

59,709

 

 

 

59,031

 

 

Deferred income taxes

 

 

13,625

 

 

 

14,319

 

 

Other noncurrent assets

 

 

16,144

 

 

 

12,164

 

 

TOTAL ASSETS

 

$

1,481,174

 

 

$

1,498,314

 

 

LIABILITIES AND TOTAL DEFICIT

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

 

 

 

Portion of long-term debt due within one year

 

$

77,000

 

 

$

96,250

 

 

Portion of operating lease liabilities due within one year

 

 

28,551

 

 

 

33,236

 

 

Accounts payable

 

 

23,052

 

 

 

29,064

 

 

Salaries and wages payable

 

 

58,047

 

 

 

66,656

 

 

Accrued marketing and advertising

 

 

15,556

 

 

 

14,815

 

 

Accrued interest

 

 

2,710

 

 

 

24,637

 

 

Other accrued liabilities

 

 

48,615

 

 

 

43,558

 

 

Derivative payable

 

 

28,283

 

 

 

21,597

 

 

Income taxes payable

 

 

7,810

 

 

 

3,644

 

 

Deferred revenue

 

 

50,475

 

 

 

60,613

 

 

TOTAL CURRENT LIABILITIES

 

 

340,099

 

 

 

394,070

 

 

Long-term debt, net

 

 

1,408,800

 

 

 

1,479,920

 

 

Long-term operating lease liabilities

 

 

101,561

 

 

 

128,464

 

 

Deferred income taxes

 

 

173,713

 

 

 

175,235

 

 

Other

 

 

5,212

 

 

 

2,446

 

 

TOTAL LIABILITIES

 

 

2,029,385

 

 

 

2,180,135

 

 

Commitments and contingencies (Note 16)

 

 

 

 

 

 

 

 

 

Redeemable noncontrolling interest

 

 

0

 

 

 

3,722

 

 

TOTAL DEFICIT

 

 

 

 

 

 

 

 

 

Common stock, $0 par value; 1,000,000 shares authorized; 121,470

   shares issued at January 2, 2021 and 120,352 shares issued at

   December 28, 2019

 

 

0

 

 

 

0

 

 

Treasury stock, at cost, 52,497 shares at January 2, 2021 and 52,933

   shares at December 28, 2019

 

 

(3,140,903

)

 

 

(3,158,274

)

 

Retained earnings

 

 

2,617,841

 

 

 

2,500,083

 

 

Accumulated other comprehensive loss

 

 

(25,149

)

 

 

(27,352

)

 

TOTAL DEFICIT

 

 

(548,211

)

 

 

(685,543

)

 

TOTAL LIABILITIES AND TOTAL DEFICIT

 

$

1,481,174

 

 

$

1,498,314

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of the consolidated financial statements. 

F-5


 

WW INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF NET INCOME FOR THE FISCAL YEARS ENDED

(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

 

 

 

January 2,

 

 

December 28,

 

 

December 29,

 

 

 

2021

 

 

2019

 

 

2018

 

 

 

(53 weeks)

 

 

(52 weeks)

 

 

(52 weeks)

 

Subscription revenues, net

 

$

1,186,489

 

 

$

1,207,266

 

 

$

1,273,196

 

Product sales and other, net

 

 

191,635

 

 

 

206,071

 

 

 

240,925

 

Revenues, net

 

 

1,378,124

 

 

 

1,413,337

 

 

 

1,514,121

 

Cost of subscription revenues

 

 

452,882

 

 

 

502,907

 

 

 

508,477

 

Cost of product sales and other

 

 

147,401

 

 

 

123,748

 

 

 

139,234

 

Cost of revenues

 

 

600,283

 

 

 

626,655

 

 

 

647,711

 

Gross profit

 

 

777,841

 

 

 

786,682

 

 

 

866,410

 

Marketing expenses

 

 

260,727

 

 

 

243,998

 

 

 

226,319

 

Selling, general and administrative expenses

 

 

297,287

 

 

 

254,699

 

 

 

251,106

 

Goodwill impairment

 

 

3,665

 

 

 

0

 

 

 

0

 

Operating income

 

 

216,162

 

 

 

287,985

 

 

 

388,985

 

Interest expense

 

 

123,310

 

 

 

135,267

 

 

 

142,346

 

Other expense, net

 

 

349

 

 

 

1,758

 

 

 

2,578

 

Income before income taxes

 

 

92,503

 

 

 

150,960

 

 

 

244,061

 

Provision for income taxes

 

 

17,462

 

 

 

31,513

 

 

 

20,493

 

Net income

 

 

75,041

 

 

 

119,447

 

 

 

223,568

 

Net loss attributable to the noncontrolling interest

 

 

38

 

 

 

169

 

 

 

181

 

Net income attributable to WW International, Inc.

 

$

75,079

 

 

$

119,616

 

 

$

223,749

 

Earnings per share attributable to WW International, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.11

 

 

$

1.78

 

 

$

3.38

 

Diluted

 

$

1.07

 

 

$

1.72

 

 

$

3.19

 

Weighted average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

67,849

 

 

 

67,188

 

 

 

66,280

 

Diluted

 

 

70,020

 

 

 

69,550

 

 

 

70,115

 

 

The accompanying notes are an integral part of the consolidated financial statements.

F-6


 

WW INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE FISCAL YEARS ENDED

(IN THOUSANDS)

 

 

 

January 2,

 

 

December 28,

 

 

December 29,

 

 

 

2021

 

 

2019

 

 

2018

 

 

 

(53 weeks)

 

 

(52 weeks)

 

 

(52 weeks)

 

Net income

 

$

75,041

 

 

$

119,447

 

 

$

223,568

 

Other comprehensive gain (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation gain (loss)

 

 

10,088

 

 

 

3,676

 

 

 

(11,462

)

Income tax (expense) benefit on foreign currency

   translation gain (loss)

 

 

(2,533

)

 

 

(939

)

 

 

2,906

 

Foreign currency translation gain (loss), net of taxes

 

 

7,555

 

 

 

2,737

 

 

 

(8,556

)

(Loss) gain on derivatives

 

 

(7,305

)

 

 

(19,222

)

 

 

7,205

 

Income tax benefit (expense) on (loss) gain on

   derivatives

 

 

1,855

 

 

 

4,868

 

 

 

(1,827

)

(Loss) gain on derivatives, net of taxes

 

 

(5,450

)

 

 

(14,354

)

 

 

5,378

 

Total other comprehensive gain (loss)

 

 

2,105

 

 

 

(11,617

)

 

 

(3,178

)

Comprehensive income

 

 

77,146

 

 

 

107,830

 

 

 

220,390

 

Net loss attributable to the noncontrolling interest

 

 

38

 

 

 

169

 

 

 

181

 

Foreign currency translation loss, net of taxes

   attributable to the noncontrolling interest

 

 

98

 

 

 

22

 

 

 

373

 

Comprehensive loss attributable to the noncontrolling

   interest

 

 

136

 

 

 

191

 

 

 

554

 

Comprehensive income attributable to

   WW International, Inc.

 

$

77,282

 

 

$

108,021

 

 

$

220,944

 

 

The accompanying notes are an integral part of the consolidated financial statements.

F-7


 

WW INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL DEFICIT

(IN THOUSANDS)

 

 

 

 

 

 

 

 

WW International, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

Redeemable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

Noncontrolling

 

 

 

Common Stock

 

 

Treasury Stock

 

 

Comprehensive

 

 

Retained

 

 

 

 

 

 

 

Interest

 

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Loss

 

 

Earnings

 

 

Total

 

Balance at December 30,

   2017

 

$

4,467

 

 

 

 

118,947

 

 

$

0

 

 

 

54,258

 

 

$

(3,208,836

)

 

$

(10,467

)

 

$

2,203,317

 

 

$

(1,015,986

)

Comprehensive income

   (loss)

 

 

(554

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,805

)

 

 

223,749

 

 

 

220,944

 

Issuance of treasury stock

   under stock plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(862

)

 

 

33,212

 

 

 

 

 

 

 

(30,618

)

 

 

2,594

 

Compensation expense on

   share-based awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20,188

 

 

 

20,188

 

Issuance of common stock

 

 

 

 

 

 

 

1,405

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,796

 

 

 

9,796

 

Cumulative effect of

   revenue accounting

   change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,933

 

 

 

2,933

 

Cumulative effect of tax

   accounting change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,485

)

 

 

(46,927

)

 

 

(49,412

)

Balance at December 29,

   2018

 

$

3,913

 

 

 

 

120,352

 

 

$

0

 

 

 

53,396

 

 

$

(3,175,624

)

 

$

(15,757

)

 

$

2,382,438

 

 

$

(808,943

)

Comprehensive income

   (loss)

 

 

(191

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(11,595

)

 

 

119,616

 

 

 

108,021

 

Issuance of treasury stock

   under stock plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(463

)

 

 

17,350

 

 

 

 

 

 

 

(22,442

)

 

 

(5,092

)

Compensation expense on

   share-based awards