$ALSN
Allison Transmission Holdings Inc

2016 Q1 Form 10-Q Financial Statement

#000119312516556451 Filed on April 26, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $462.0M $503.6M
YoY Change -8.26% 2.03%
Cost Of Revenue $247.0M $264.4M
YoY Change -6.58% -2.47%
Gross Profit $215.0M $239.2M
YoY Change -10.12% 7.51%
Gross Profit Margin 46.54% 47.5%
Selling, General & Admin $83.00M $73.40M
YoY Change 13.08% -11.78%
% of Gross Profit 38.6% 30.69%
Research & Development $21.00M $22.20M
YoY Change -5.41% -9.39%
% of Gross Profit 9.77% 9.28%
Depreciation & Amortization $21.00M $21.40M
YoY Change -1.87% -8.15%
% of Gross Profit 9.77% 8.95%
Operating Expenses $104.0M $95.60M
YoY Change 8.79% -11.23%
Operating Profit $111.0M $142.3M
YoY Change -22.0% 23.95%
Interest Expense -$34.10M -$36.90M
YoY Change -7.59% 2.5%
% of Operating Profit -30.72% -25.93%
Other Income/Expense, Net -$100.0K $2.800M
YoY Change -103.57% -800.0%
Pretax Income $77.00M $108.2M
YoY Change -28.84% 36.44%
Income Tax $29.00M $39.80M
% Of Pretax Income 37.66% 36.78%
Net Earnings $48.00M $68.40M
YoY Change -29.82% 31.29%
Net Earnings / Revenue 10.39% 13.58%
Basic Earnings Per Share $0.28 $0.38
Diluted Earnings Per Share $0.28 $0.38
COMMON SHARES
Basic Shares Outstanding 170.5M shares 180.0M shares
Diluted Shares Outstanding 171.5M shares 182.4M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $299.1M $265.1M
YoY Change 12.83% 65.79%
Cash & Equivalents $299.0M $265.1M
Short-Term Investments
Other Short-Term Assets $29.50M $25.00M
YoY Change 18.0% -21.38%
Inventory $142.7M $160.9M
Prepaid Expenses
Receivables $219.0M $231.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $690.3M $795.3M
YoY Change -13.2% 21.87%
LONG-TERM ASSETS
Property, Plant & Equipment $466.3M $495.6M
YoY Change -5.91% -10.07%
Goodwill $1.941B $1.941B
YoY Change 0.0% 0.0%
Intangibles $1.312B $1.488B
YoY Change -11.84% -6.2%
Long-Term Investments
YoY Change
Other Assets $32.10M $68.60M
YoY Change -53.21% -22.05%
Total Long-Term Assets $3.751B $3.994B
YoY Change -6.09% -4.15%
TOTAL ASSETS
Total Short-Term Assets $690.3M $795.3M
Total Long-Term Assets $3.751B $3.994B
Total Assets $4.441B $4.790B
YoY Change -7.27% -0.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $134.1M $157.1M
YoY Change -14.64% -9.35%
Accrued Expenses $62.00M $72.80M
YoY Change -14.84% -14.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $24.50M $17.90M
YoY Change 36.87% -8.21%
Total Short-Term Liabilities $319.5M $334.2M
YoY Change -4.4% -18.71%
LONG-TERM LIABILITIES
Long-Term Debt $2.348B $2.451B
YoY Change -4.19% -7.72%
Other Long-Term Liabilities $257.6M $224.3M
YoY Change 14.85% 41.25%
Total Long-Term Liabilities $2.606B $2.675B
YoY Change -2.59% -4.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $319.5M $334.2M
Total Long-Term Liabilities $2.606B $2.675B
Total Liabilities $3.258B $3.371B
YoY Change -3.33% -1.62%
SHAREHOLDERS EQUITY
Retained Earnings -$455.2M -$212.9M
YoY Change 113.81% -0.79%
Common Stock $1.693B $1.682B
YoY Change 0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.183B $1.419B
YoY Change
Total Liabilities & Shareholders Equity $4.441B $4.790B
YoY Change -7.27% -0.63%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $48.00M $68.40M
YoY Change -29.82% 31.29%
Depreciation, Depletion And Amortization $21.00M $21.40M
YoY Change -1.87% -8.15%
Cash From Operating Activities $117.9M $80.10M
YoY Change 47.19% -18.76%
INVESTING ACTIVITIES
Capital Expenditures $6.000M $1.300M
YoY Change 361.54% -88.29%
Acquisitions
YoY Change
Other Investing Activities $100.0K $100.0K
YoY Change 0.0% -150.0%
Cash From Investing Activities -$6.300M -$1.200M
YoY Change 425.0% -92.05%
FINANCING ACTIVITIES
Cash Dividend Paid $26.00M $27.00M
YoY Change -3.7% 24.42%
Common Stock Issuance & Retirement, Net $33.00M $35.40M
YoY Change -6.78% -64.6%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -64.80M -85.60M
YoY Change -24.3% -19.02%
NET CHANGE
Cash From Operating Activities 117.9M 80.10M
Cash From Investing Activities -6.300M -1.200M
Cash From Financing Activities -64.80M -85.60M
Net Change In Cash 46.80M -6.700M
YoY Change -798.51% -69.82%
FREE CASH FLOW
Cash From Operating Activities $117.9M $80.10M
Capital Expenditures $6.000M $1.300M
Free Cash Flow $111.9M $78.80M
YoY Change 42.01% -9.94%

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7800000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2100000
CY2015Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1300000
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
73400000
CY2015Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8400000
CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
900000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1200000
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
21200000
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22200000
CY2015Q1 alsn Accretion For Predecessor Liability
AccretionForPredecessorLiability
100000
CY2015Q1 alsn Interest Expense Income
InterestExpenseIncome
-37100000
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Trading Symbol
TradingSymbol
ALSN
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001411207
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000 shares
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
170500000 shares
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.369 pure
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
117900000
CY2016Q1 dei Amendment Flag
AmendmentFlag
false
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
ALLISON TRANSMISSION HOLDINGS INC
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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, 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 liabilities, environmental liabilities, 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>
CY2016Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016Q1 us-gaap Nature Of Operations
NatureOfOperations
<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 (&#x201C;Old GM&#x201D;) 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"> The Company has approximately 2,700 employees and 13 different transmission product lines. Although approximately 81% of revenues were generated in North America in 2015, the Company has a global presence by serving customers in Europe, Asia, South America and Africa. The Company serves customers through an independent network of approximately 1,400 independent distributor and dealer locations worldwide.</p> </div>
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171500000 shares
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
CY2016Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4300000
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
50900000
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6400000
CY2016Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
2100000
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-100000
CY2016Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
3500000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
110700000
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
100000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
76500000
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
462100000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
23100000
CY2016Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
200000
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
25700000
CY2016Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3000000
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
300000
CY2016Q1 us-gaap Interest Paid
InterestPaid
21600000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
48300000
CY2016Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-900000
CY2016Q1 us-gaap Gross Profit
GrossProfit
215100000
CY2016Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-10100000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2600000
CY2016Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
6100000
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
33300000
CY2016Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
3300000
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
700000
CY2016Q1 us-gaap Depreciation
Depreciation
20700000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-64800000
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
23400000
CY2016Q1 us-gaap Cost Of Revenue
CostOfRevenue
247000000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28200000
CY2016Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-100000
CY2016Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2000000
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
100000
CY2016Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
22800000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
47500000
CY2016Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
33300000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7700000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2200000
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
82600000
CY2016Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8900000
CY2016Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
1000000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-6300000
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
600000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
21800000
CY2016Q1 alsn Income Tax Examination Statute Of Limitations Period
IncomeTaxExaminationStatuteOfLimitationsPeriod
P3Y
CY2016Q1 alsn Transmission Product Lines
TransmissionProductLines
13 Product
CY2016Q1 alsn Accretion For Predecessor Liability
AccretionForPredecessorLiability
100000
CY2016Q1 alsn Interest Expense Income
InterestExpenseIncome
-34300000

Files In Submission

Name View Source Status
0001193125-16-556451-index-headers.html Edgar Link pending
0001193125-16-556451-index.html Edgar Link pending
0001193125-16-556451.txt Edgar Link pending
0001193125-16-556451-xbrl.zip Edgar Link pending
alsn-20160331.xml Edgar Link completed
alsn-20160331.xsd Edgar Link pending
alsn-20160331_cal.xml Edgar Link unprocessable
alsn-20160331_def.xml Edgar Link unprocessable
alsn-20160331_lab.xml Edgar Link unprocessable
alsn-20160331_pre.xml Edgar Link unprocessable
d165327d10q.htm Edgar Link pending
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