$ALSN
Allison Transmission Holdings Inc

2015 Q1 Form 10-Q Financial Statement

#000119312515152186 Filed on April 28, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $503.6M $493.6M
YoY Change 2.03% 7.91%
Cost Of Revenue $264.4M $271.1M
YoY Change -2.47% 4.63%
Gross Profit $239.2M $222.5M
YoY Change 7.51% 12.2%
Gross Profit Margin 47.5% 45.08%
Selling, General & Admin $73.40M $83.20M
YoY Change -11.78% -5.35%
% of Gross Profit 30.69% 37.39%
Research & Development $22.20M $24.50M
YoY Change -9.39% -15.52%
% of Gross Profit 9.28% 11.01%
Depreciation & Amortization $21.40M $23.30M
YoY Change -8.15% -5.67%
% of Gross Profit 8.95% 10.47%
Operating Expenses $95.60M $107.7M
YoY Change -11.23% -7.87%
Operating Profit $142.3M $114.8M
YoY Change 23.95% 41.03%
Interest Expense -$36.90M -$36.00M
YoY Change 2.5% 0.56%
% of Operating Profit -25.93% -31.36%
Other Income/Expense, Net $2.800M -$400.0K
YoY Change -800.0% -87.1%
Pretax Income $108.2M $79.30M
YoY Change 36.44% 78.6%
Income Tax $39.80M $27.20M
% Of Pretax Income 36.78% 34.3%
Net Earnings $68.40M $52.10M
YoY Change 31.29% 89.45%
Net Earnings / Revenue 13.58% 10.56%
Basic Earnings Per Share $0.38 $0.29
Diluted Earnings Per Share $0.38 $0.28
COMMON SHARES
Basic Shares Outstanding 180.0M shares 182.2M shares
Diluted Shares Outstanding 182.4M shares 185.9M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $265.1M $159.9M
YoY Change 65.79% 32.26%
Cash & Equivalents $265.1M $159.9M
Short-Term Investments
Other Short-Term Assets $25.00M $31.80M
YoY Change -21.38% 10.03%
Inventory $160.9M $175.6M
Prepaid Expenses
Receivables $231.3M $227.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $795.3M $652.6M
YoY Change 21.87% 12.77%
LONG-TERM ASSETS
Property, Plant & Equipment $495.6M $551.1M
YoY Change -10.07% -5.83%
Goodwill $1.941B $1.941B
YoY Change 0.0% 0.0%
Intangibles $1.488B $1.586B
YoY Change -6.2% -5.94%
Long-Term Investments
YoY Change
Other Assets $68.60M $88.00M
YoY Change -22.05% -3.93%
Total Long-Term Assets $3.994B $4.167B
YoY Change -4.15% -3.65%
TOTAL ASSETS
Total Short-Term Assets $795.3M $652.6M
Total Long-Term Assets $3.994B $4.167B
Total Assets $4.790B $4.820B
YoY Change -0.63% -1.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $157.1M $173.3M
YoY Change -9.35% 7.37%
Accrued Expenses $72.80M $85.50M
YoY Change -14.85% 2.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $17.90M $19.50M
YoY Change -8.21% -17.02%
Total Short-Term Liabilities $334.2M $411.1M
YoY Change -18.71% 3.6%
LONG-TERM LIABILITIES
Long-Term Debt $2.451B $2.656B
YoY Change -7.72% -4.85%
Other Long-Term Liabilities $224.3M $158.8M
YoY Change 41.25% -23.87%
Total Long-Term Liabilities $2.675B $2.815B
YoY Change -4.96% -6.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $334.2M $411.1M
Total Long-Term Liabilities $2.675B $2.815B
Total Liabilities $3.371B $3.426B
YoY Change -1.62% -2.37%
SHAREHOLDERS EQUITY
Retained Earnings -$212.9M -$214.6M
YoY Change -0.79% 15.44%
Common Stock $1.682B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.419B $1.394B
YoY Change
Total Liabilities & Shareholders Equity $4.790B $4.820B
YoY Change -0.63% -1.71%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $68.40M $52.10M
YoY Change 31.29% 89.45%
Depreciation, Depletion And Amortization $21.40M $23.30M
YoY Change -8.15% -5.67%
Cash From Operating Activities $80.10M $98.60M
YoY Change -18.76% 80.26%
INVESTING ACTIVITIES
Capital Expenditures $1.300M $11.10M
YoY Change -88.29% -11.9%
Acquisitions
YoY Change
Other Investing Activities $100.0K -$200.0K
YoY Change -150.0% 0.0%
Cash From Investing Activities -$1.200M -$15.10M
YoY Change -92.05% -20.94%
FINANCING ACTIVITIES
Cash Dividend Paid $27.00M $21.70M
YoY Change 24.42% 95.5%
Common Stock Issuance & Retirement, Net $35.40M $100.0M
YoY Change -64.6%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -85.60M -105.7M
YoY Change -19.02% -5133.33%
NET CHANGE
Cash From Operating Activities 80.10M 98.60M
Cash From Investing Activities -1.200M -15.10M
Cash From Financing Activities -85.60M -105.7M
Net Change In Cash -6.700M -22.20M
YoY Change -69.82% -158.89%
FREE CASH FLOW
Cash From Operating Activities $80.10M $98.60M
Capital Expenditures $1.300M $11.10M
Free Cash Flow $78.80M $87.50M
YoY Change -9.94% 107.84%

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CY2015Q1 dei Document Type
DocumentType
10-Q
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
ALLISON TRANSMISSION HOLDINGS INC
CY2015Q1 dei Trading Symbol
TradingSymbol
ALSN
CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2015Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.368 pure
CY2015Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2015Q1 dei Document Period End Date
DocumentPeriodEndDate
2015-03-31
CY2015Q1 us-gaap Nature Of Operations
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<div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>NOTE A.&#xA0;OVERVIEW</b></p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"> <b><i>Overview</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Allison Transmission Holdings, Inc. and its subsidiaries (&#x201C;Allison,&#x201D; the &#x201C;Company&#x201D; or &#x201C;we&#x201D;) design and manufacture commercial and defense fully-automatic transmissions. The business was founded in 1915 and has been headquartered in Indianapolis, Indiana since inception. Allison was an operating unit of General Motors Corporation from 1929 until 2007, when Allison once again became a stand-alone company. In March 2012, Allison began trading on the New York Stock Exchange under the symbol, &#x201C;ALSN&#x201D;.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> We have approximately 2,700 employees and 13 different transmission product lines. Although approximately 80% of revenues were generated in North America in 2014, we have a global presence by serving customers in Europe, Asia, South America and Africa. We serve customers through an independent network of approximately 1,400 independent distributor and dealer locations worldwide.</p> </div>
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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80100000
CY2015Q1 us-gaap Use Of Estimates
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<div> <p style="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses. Significant estimates include, but are not limited to, allowance for doubtful accounts, sales allowances, government price adjustments, fair market values and future cash flows associated with goodwill, indefinite life intangibles, long-lived asset impairment tests, useful lives for depreciation and amortization, warranty liability, determination of discount and other assumptions for pension and other postretirement benefit expense, income taxes and deferred tax valuation allowances, derivative valuation, and contingencies. The Company&#x2019;s accounting policies involve the application of judgments and assumptions made by management that include inherent risks and uncertainties. Actual results could differ materially from these estimates. Changes in estimates are recorded in results of operations in the period that the events or circumstances giving rise to such changes occur.</p> </div>
CY2015Q1 dei Amendment Flag
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false
CY2015Q1 dei Current Fiscal Year End Date
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--12-31
CY2015Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
182400000 shares
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001411207
CY2015Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2015Q1 dei Document Fiscal Period Focus
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Q1
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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200000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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180000000 shares
CY2015Q1 us-gaap Unrealized Gain Loss On Derivatives
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CY2015Q1 us-gaap Product Warranty Accrual Warranties Issued
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5900000
CY2015Q1 us-gaap Increase Decrease In Other Operating Capital Net
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30600000
CY2015Q1 us-gaap Gross Profit
GrossProfit
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CY2015Q1 us-gaap Payments Of Dividends
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CY2015Q1 us-gaap Income Taxes Paid
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CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2015Q1 us-gaap Other Nonoperating Gains Losses
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CY2015Q1 us-gaap Other Nonoperating Income Expense
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CY2015Q1 us-gaap Repayments Of Senior Debt
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CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2015Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2015Q1 us-gaap Product Warranty Accrual Payments
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CY2015Q1 us-gaap Depreciation
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CY2015Q1 us-gaap Proceeds From Stock Options Exercised
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CY2015Q1 us-gaap Share Based Compensation
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CY2015Q1 us-gaap Impairment Of Long Lived Assets Held For Use
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CY2015Q1 alsn Loss On Intercompany Foreign Exchange
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CY2015Q1 alsn Transmission Product Lines
TransmissionProductLines
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CY2015Q1 alsn Income Tax Examination Statute Of Limitations Period
IncomeTaxExaminationStatuteOfLimitationsPeriod
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0001193125-15-152186.txt Edgar Link pending
0001193125-15-152186-xbrl.zip Edgar Link pending
alsn-20150331.xml Edgar Link completed
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