$ALSN
Allison Transmission Holdings Inc

2018 Q1 Form 10-Q Financial Statement

#000119312518146558 Filed on May 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1 2016 Q4
Revenue $663.0M $499.0M $469.0M
YoY Change 32.87% 8.01% -1.92%
Cost Of Revenue $321.0M $248.0M $251.2M
YoY Change 29.44% 0.4% -1.88%
Gross Profit $342.0M $251.0M $218.0M
YoY Change 36.25% 16.74% -1.89%
Gross Profit Margin 51.58% 50.3% 46.48%
Selling, General & Admin $92.00M $79.00M $83.50M
YoY Change 16.46% -4.82% 2.45%
% of Gross Profit 26.9% 31.47% 38.3%
Research & Development $28.00M $23.00M $24.50M
YoY Change 21.74% 9.52% 4.26%
% of Gross Profit 8.19% 9.16% 11.24%
Depreciation & Amortization $20.00M $19.00M $43.70M
YoY Change 5.26% -9.52% -6.42%
% of Gross Profit 5.85% 7.57% 20.05%
Operating Expenses $120.0M $102.0M $108.0M
YoY Change 17.65% -1.92% 2.86%
Operating Profit $222.0M $149.0M $110.0M
YoY Change 48.99% 34.23% 195.7%
Interest Expense -$30.00M -$25.00M -$16.80M
YoY Change 20.0% -26.69% -18.84%
% of Operating Profit -13.51% -16.78% -15.27%
Other Income/Expense, Net -$1.000M $3.000M $1.800M
YoY Change -133.33% -3100.0% -45.45%
Pretax Income $191.0M $127.0M $94.00M
YoY Change 50.39% 64.94% 377.16%
Income Tax $40.00M $44.00M $33.50M
% Of Pretax Income 20.94% 34.65% 35.64%
Net Earnings $151.0M $83.00M $61.00M
YoY Change 81.93% 72.92% 369.23%
Net Earnings / Revenue 22.78% 16.63% 13.01%
Basic Earnings Per Share $1.09 $0.53 $0.37
Diluted Earnings Per Share $1.08 $0.52 $0.36
COMMON SHARES
Basic Shares Outstanding 139.0M shares 158.0M shares 165.4M shares
Diluted Shares Outstanding 140.0M shares 159.0M shares

Balance Sheet

Concept 2018 Q1 2017 Q1 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $195.0M $120.0M $204.7M
YoY Change 62.5% -59.88% -18.64%
Cash & Equivalents $195.0M $120.0M $205.0M
Short-Term Investments
Other Short-Term Assets $27.00M $23.00M $17.00M
YoY Change 17.39% -22.03% -40.97%
Inventory $172.0M $144.0M $126.0M
Prepaid Expenses
Receivables $312.0M $250.0M $197.0M
Other Receivables $10.00M $0.00 $0.00
Total Short-Term Assets $716.0M $537.0M $548.0M
YoY Change 33.33% -22.21% -11.15%
LONG-TERM ASSETS
Property, Plant & Equipment $440.0M $457.0M $464.0M
YoY Change -3.72% -1.99% -3.33%
Goodwill $1.941B $1.941B $1.941B
YoY Change 0.0% 0.0% 0.0%
Intangibles $1.131B $1.220B $1.242B
YoY Change -7.3% -6.98% -6.95%
Long-Term Investments
YoY Change
Other Assets $32.00M $24.00M $24.00M
YoY Change 33.33% -25.23% -33.52%
Total Long-Term Assets $3.544B $3.642B $3.671B
YoY Change -2.69% -2.9% -3.18%
TOTAL ASSETS
Total Short-Term Assets $716.0M $537.0M $548.0M
Total Long-Term Assets $3.544B $3.642B $3.671B
Total Assets $4.260B $4.179B $4.219B
YoY Change 1.94% -5.9% -4.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $203.0M $158.0M $128.0M
YoY Change 28.48% 17.82% 1.43%
Accrued Expenses $111.0M $97.00M $105.9M
YoY Change 14.43% 56.45% 57.59%
Deferred Revenue $40.00M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $12.00M $12.00M $12.00M
YoY Change 0.0% -51.02% -51.02%
Total Short-Term Liabilities $436.0M $378.0M $342.0M
YoY Change 15.34% 18.31% 12.28%
LONG-TERM LIABILITIES
Long-Term Debt $2.532B $2.390B $2.147B
YoY Change 5.94% 1.78% -8.74%
Other Long-Term Liabilities $187.0M $234.0M $233.0M
YoY Change -20.09% -9.16% -6.09%
Total Long-Term Liabilities $2.719B $2.624B $2.380B
YoY Change 3.62% 0.69% -8.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $436.0M $378.0M $342.0M
Total Long-Term Liabilities $2.719B $2.624B $2.380B
Total Liabilities $3.554B $3.442B $3.138B
YoY Change 3.25% 5.63% -2.54%
SHAREHOLDERS EQUITY
Retained Earnings -$1.046B -$941.0M -$586.0M
YoY Change 11.16% 106.72% 31.83%
Common Stock $1.762B $1.736B $1.728B
YoY Change 1.5% 2.57% 2.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $706.0M $737.0M $1.081B
YoY Change
Total Liabilities & Shareholders Equity $4.260B $4.179B $4.219B
YoY Change 1.94% -5.9% -4.3%

Cashflow Statement

Concept 2018 Q1 2017 Q1 2016 Q4
OPERATING ACTIVITIES
Net Income $151.0M $83.00M $61.00M
YoY Change 81.93% 72.92% 369.23%
Depreciation, Depletion And Amortization $20.00M $19.00M $43.70M
YoY Change 5.26% -9.52% -6.42%
Cash From Operating Activities $153.0M $111.0M $175.2M
YoY Change 37.84% -5.85% -7.74%
INVESTING ACTIVITIES
Capital Expenditures $10.00M $8.000M -$33.90M
YoY Change 25.0% 33.33% 21.07%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$10.00M -$8.000M -$33.90M
YoY Change 25.0% 26.98% 21.51%
FINANCING ACTIVITIES
Cash Dividend Paid $21.00M $23.00M
YoY Change -8.7% -11.54%
Common Stock Issuance & Retirement, Net $125.0M $415.0M
YoY Change -69.88% 1157.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$149.0M -189.0M -98.90M
YoY Change -21.16% 191.67% 127.36%
NET CHANGE
Cash From Operating Activities $153.0M 111.0M 175.2M
Cash From Investing Activities -$10.00M -8.000M -33.90M
Cash From Financing Activities -$149.0M -189.0M -98.90M
Net Change In Cash -$6.000M -86.00M 42.40M
YoY Change -93.02% -283.76% -64.22%
FREE CASH FLOW
Cash From Operating Activities $153.0M $111.0M $175.2M
Capital Expenditures $10.00M $8.000M -$33.90M
Free Cash Flow $143.0M $103.0M $209.1M
YoY Change 38.83% -7.95% -4.04%

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CY2017Q1 us-gaap Share Based Compensation
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CY2017Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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CY2017Q1 us-gaap Selling General And Administrative Expense
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CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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CY2017Q1 us-gaap Research And Development Expense
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CY2017Q1 us-gaap Amortization Of Financing Costs
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CY2017Q1 us-gaap Amortization Of Intangible Assets
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CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2017Q1 us-gaap Cost Of Revenue
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CY2017Q1 us-gaap Other Comprehensive Income Loss Tax
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CY2017Q1 alsn Interest Expense Income
InterestExpenseIncome
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CY2017Q1 alsn Proceeds From Payments For Debt Financing
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CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2018Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2018Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018Q1 dei Document Type
DocumentType
10-Q
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.08
CY2018Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001411207
CY2018Q1 us-gaap Nature Of Operations
NatureOfOperations
<div> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="10%" valign="top" align="left"><b>NOTE&#xA0;A.</b></td> <td align="left" valign="top"><b>OVERVIEW</b></td> </tr> </table> <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; or the &#x201C;Company&#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"> The Company has approximately 2,700 employees and 13 different transmission product lines. Although approximately 79% of revenues were generated in North America in 2017, 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>
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
153000000
CY2018Q1 dei Trading Symbol
TradingSymbol
ALSN
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140000000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
139000000 shares
CY2018Q1 dei Amendment Flag
AmendmentFlag
false
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2018Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.09
CY2018Q1 dei Document Period End Date
DocumentPeriodEndDate
2018-03-31
CY2018Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000 shares
CY2018Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2018Q1 us-gaap Use Of Estimates
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<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. 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 post-retirement benefit expense, income taxes and deferred tax valuation allowances, 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>
CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2018Q1 dei Entity Registrant Name
EntityRegistrantName
ALLISON TRANSMISSION HOLDINGS INC
CY2018Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2018Q1 us-gaap Payments Of Dividends
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CY2018Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2018Q1 us-gaap Gross Profit
GrossProfit
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CY2018Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
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CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
663000000
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2018Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2018Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
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CY2018Q1 us-gaap Repayments Of Senior Debt
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CY2018Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
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CY2018Q1 us-gaap Operating Income Loss
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CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q1 us-gaap Interest Paid
InterestPaid
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CY2018Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3000000
CY2018Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
16000000
CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
155000000
CY2018Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2018Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
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CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2018Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2018Q1 us-gaap Depreciation
Depreciation
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CY2018Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
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CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2018Q1 us-gaap Increase Decrease In Accounts Payable
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CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2018Q1 us-gaap Share Based Compensation
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CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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CY2018Q1 us-gaap Selling General And Administrative Expense
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CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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CY2018Q1 us-gaap Cost Of Revenue
CostOfRevenue
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CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2018Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
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CY2018Q1 alsn Transmission Product Lines
TransmissionProductLines
13 Product
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2018Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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CY2018Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
22000000
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4000000
CY2018Q1 alsn Product Sales Credit Term
ProductSalesCreditTerm
P30D
CY2018Q1 alsn Interest Expense Income
InterestExpenseIncome
-30000000
CY2018Q1 alsn Proceeds From Payments For Debt Financing
ProceedsFromPaymentsForDebtFinancing
-1000000

Files In Submission

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0001193125-18-146558-index.html Edgar Link pending
0001193125-18-146558.txt Edgar Link pending
0001193125-18-146558-xbrl.zip Edgar Link pending
alsn-20180331.xml Edgar Link completed
alsn-20180331.xsd Edgar Link pending
alsn-20180331_cal.xml Edgar Link unprocessable
alsn-20180331_def.xml Edgar Link unprocessable
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