$ACCO
ACCO BRANDS Corp

2018 Q1 Form 10-Q Financial Statement

#000071203418000067 Filed on May 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $405.8M $359.8M
YoY Change 12.78% 29.38%
Cost Of Revenue $278.3M $248.9M
YoY Change 11.81% 27.18%
Gross Profit $127.5M $110.9M
YoY Change 14.97% 34.59%
Gross Profit Margin 31.42% 30.82%
Selling, General & Admin $101.8M $94.20M
YoY Change 8.07% 32.3%
% of Gross Profit 79.84% 84.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.000M $9.000M
YoY Change 0.0% 15.38%
% of Gross Profit 7.06% 8.12%
Operating Expenses $115.8M $103.7M
YoY Change 11.67% 36.63%
Operating Profit $11.70M $7.200M
YoY Change 62.5% 10.77%
Interest Expense $9.400M $9.800M
YoY Change -4.08% -8.41%
% of Operating Profit 80.34% 136.11%
Other Income/Expense, Net $600.0K -$700.0K
YoY Change -185.71% -36.36%
Pretax Income $6.100M $100.0K
YoY Change 6000.0% -103.85%
Income Tax -$4.300M -$3.500M
% Of Pretax Income -70.49% -3500.0%
Net Earnings $10.40M $3.600M
YoY Change 188.89% -25.0%
Net Earnings / Revenue 2.56% 1.0%
Basic Earnings Per Share $0.10 $0.03
Diluted Earnings Per Share $0.09 $0.03
COMMON SHARES
Basic Shares Outstanding 106.8M shares 108.3M shares
Diluted Shares Outstanding 110.0M shares 112.4M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $122.7M $118.3M
YoY Change 3.72% 15.53%
Cash & Equivalents $122.7M $118.3M
Short-Term Investments
Other Short-Term Assets $51.50M $41.00M
YoY Change 25.61% 17.14%
Inventory $294.5M $287.3M
Prepaid Expenses
Receivables $316.1M $295.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $784.8M $741.7M
YoY Change 5.81% 18.81%
LONG-TERM ASSETS
Property, Plant & Equipment $280.3M $282.5M
YoY Change -0.78% 35.82%
Goodwill $667.9M $697.4M
YoY Change -4.23% 37.26%
Intangibles $838.1M $834.8M
YoY Change 0.4% 59.74%
Long-Term Investments
YoY Change
Other Assets $50.70M $18.10M
YoY Change 180.11% -64.92%
Total Long-Term Assets $1.970B $1.956B
YoY Change 0.69% 48.73%
TOTAL ASSETS
Total Short-Term Assets $784.8M $741.7M
Total Long-Term Assets $1.970B $1.956B
Total Assets $2.755B $2.698B
YoY Change 2.1% 39.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $188.6M $176.2M
YoY Change 7.04% 15.54%
Accrued Expenses $145.7M $135.0M
YoY Change 7.93% 17.6%
Deferred Revenue
YoY Change
Short-Term Debt $700.0K $0.00
YoY Change
Long-Term Debt Due $42.00M $19.40M
YoY Change 116.49% 487.88%
Total Short-Term Liabilities $489.1M $411.5M
YoY Change 18.86% 28.84%
LONG-TERM LIABILITIES
Long-Term Debt $908.4M $1.003B
YoY Change -9.4% 39.69%
Other Long-Term Liabilities $149.1M $82.10M
YoY Change 81.61% 18.47%
Total Long-Term Liabilities $1.058B $1.085B
YoY Change -2.52% 37.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $489.1M $411.5M
Total Long-Term Liabilities $1.058B $1.085B
Total Liabilities $1.990B $1.981B
YoY Change 0.44% 49.28%
SHAREHOLDERS EQUITY
Retained Earnings -$733.9M -$867.2M
YoY Change -15.37% -9.89%
Common Stock $1.100M $1.100M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $33.90M $26.20M
YoY Change 29.39% 55.03%
Treasury Stock Shares
Shareholders Equity $765.0M $717.2M
YoY Change
Total Liabilities & Shareholders Equity $2.755B $2.698B
YoY Change 2.1% 39.1%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $10.40M $3.600M
YoY Change 188.89% -25.0%
Depreciation, Depletion And Amortization $9.000M $9.000M
YoY Change 0.0% 15.38%
Cash From Operating Activities $60.40M $65.40M
YoY Change -7.65% 24.57%
INVESTING ACTIVITIES
Capital Expenditures $8.000M $5.200M
YoY Change 53.85% 33.33%
Acquisitions $0.00 $292.6M
YoY Change -100.0%
Other Investing Activities $0.00 -$292.5M
YoY Change -100.0%
Cash From Investing Activities -$8.000M -$297.7M
YoY Change -97.31% 7533.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.100M $0.00
YoY Change
Debt Paid & Issued, Net $11.60M $94.40M
YoY Change -87.71%
Cash From Financing Activities -$7.000M $306.4M
YoY Change -102.28% -6619.15%
NET CHANGE
Cash From Operating Activities $60.40M $65.40M
Cash From Investing Activities -$8.000M -$297.7M
Cash From Financing Activities -$7.000M $306.4M
Net Change In Cash $45.40M $74.10M
YoY Change -38.73% 68.79%
FREE CASH FLOW
Cash From Operating Activities $60.40M $65.40M
Capital Expenditures $8.000M $5.200M
Free Cash Flow $52.40M $60.20M
YoY Change -12.96% 23.87%

Facts In Submission

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CY2017Q4 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
0 USD
CY2018Q1 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
700000 USD
CY2018Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2018Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2018Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-8400000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
103700000 USD
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
115800000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7200000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
11700000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
29200000 USD
CY2018Q1 us-gaap Other Assets Current
OtherAssetsCurrent
51500000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
42900000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
50700000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-1900000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
600000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
700000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-300000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
12500000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-4300000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-2700000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
10100000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-6300000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
500000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
2600000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
100000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
900000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
113800000 USD
CY2018Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
112100000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
144800000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
149100000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-700000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
600000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9100000 USD
CY2017Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
600000 USD
CY2018Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
3400000 USD
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3400000 USD
CY2018Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6400000 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9200000 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7400000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
292600000 USD
CY2018Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5200000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8000000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
275500000 USD
CY2018Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
268300000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
412000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
21500000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
700000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
100000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1400000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5300000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
645200000 USD
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
657100000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
278500000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
280300000 USD
CY2018Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-2100000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
94400000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
11600000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
1500000 USD
CY2018Q1 us-gaap Restructuring Charges
RestructuringCharges
4700000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
1500000 USD
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
5900000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
13300000 USD
CY2018Q1 us-gaap Restructuring Reserve
RestructuringReserve
14800000 USD
CY2018Q1 us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
200000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-739200000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-733900000 USD
CY2017Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
359800000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
405800000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4300000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
700000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P12M
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P12M
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
359800000 USD
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
405800000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
94200000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
101800000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2400000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3200000 USD
CY2017Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2018Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
800000 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
774100000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
765000000 USD
CY2017Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
700000 shares
CY2018Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
600000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
26400000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
33900000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
700000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
300000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112400000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108300000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106800000 shares

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