2013 Q4 Form 10-Q Financial Statement

#000082102613000052 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q3
Revenue $1.584B $1.138B
YoY Change -5.73% 21.28%
Cost Of Revenue $1.475B $1.060B
YoY Change -7.22% 21.33%
Gross Profit $109.6M $78.32M
YoY Change 20.19% 20.55%
Gross Profit Margin 6.92% 6.88%
Selling, General & Admin $85.80M $58.00M
YoY Change 23.28% 6.42%
% of Gross Profit 78.3% 74.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.70M $12.80M
YoY Change 0.0% 26.73%
% of Gross Profit 12.5% 16.34%
Operating Expenses $85.80M $58.03M
YoY Change 23.28% 6.5%
Operating Profit $23.78M $20.29M
YoY Change 10.24% 93.62%
Interest Expense $24.50M $500.0K
YoY Change -600.0% -87.5%
% of Operating Profit 103.04% 2.46%
Other Income/Expense, Net $3.300M $3.492M
YoY Change -37.74% 186.94%
Pretax Income $51.50M $24.32M
YoY Change 134.09% 54.78%
Income Tax $16.90M $9.133M
% Of Pretax Income 32.82% 37.55%
Net Earnings $30.66M $16.88M
YoY Change 104.54% 54.54%
Net Earnings / Revenue 1.94% 1.48%
Basic Earnings Per Share $1.09 $0.61
Diluted Earnings Per Share $1.08 $0.60
COMMON SHARES
Basic Shares Outstanding 18.70M shares 18.53M shares
Diluted Shares Outstanding 18.65M shares

Balance Sheet

Concept 2013 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $309.1M $80.40M
YoY Change 123.66% 108.83%
Cash & Equivalents $309.1M $80.37M
Short-Term Investments
Other Short-Term Assets $47.19M $41.57M
YoY Change -12.64% 0.02%
Inventory $614.9M $682.3M
Prepaid Expenses
Receivables $173.9M $199.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.222B $1.190B
YoY Change -5.81% 36.94%
LONG-TERM ASSETS
Property, Plant & Equipment $387.5M $283.4M
YoY Change 7.96% 71.87%
Goodwill $58.55M $19.23M
YoY Change 7.66%
Intangibles
YoY Change
Long-Term Investments $291.1M $190.1M
YoY Change 52.49% 0.5%
Other Assets $59.46M $48.58M
YoY Change 17.17% 1.18%
Total Long-Term Assets $1.052B $801.0M
YoY Change 18.82% 35.93%
TOTAL ASSETS
Total Short-Term Assets $1.222B $1.190B
Total Long-Term Assets $1.052B $801.0M
Total Assets $2.274B $1.991B
YoY Change 4.18% 36.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $746.8M $250.1M
YoY Change -0.15% 221.47%
Accrued Expenses $70.30M $53.63M
YoY Change 5.07% 8.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $275.5M
YoY Change -100.0% 162.38%
Long-Term Debt Due $52.00M $32.66M
YoY Change 243.33% -27.71%
Total Short-Term Liabilities $992.3M $937.1M
YoY Change -0.05% 69.31%
LONG-TERM LIABILITIES
Long-Term Debt $375.2M $312.4M
YoY Change -12.18% 32.53%
Other Long-Term Liabilities $15.39M $14.08M
YoY Change -16.41% -60.24%
Total Long-Term Liabilities $390.6M $326.5M
YoY Change -12.35% 20.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $992.3M $937.1M
Total Long-Term Liabilities $390.6M $326.5M
Total Liabilities $1.549B $1.389B
YoY Change -1.38% 49.92%
SHAREHOLDERS EQUITY
Retained Earnings $548.4M $458.6M
YoY Change 16.53% 19.56%
Common Stock $184.5M $181.1M
YoY Change 1.51% 1.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.22M $12.54M
YoY Change -18.61% -15.34%
Treasury Stock Shares 607.0K shares 557.0K shares
Shareholders Equity $701.5M $584.6M
YoY Change
Total Liabilities & Shareholders Equity $2.274B $1.991B
YoY Change 4.18% 36.53%

Cashflow Statement

Concept 2013 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $30.66M $16.88M
YoY Change 104.54% 54.54%
Depreciation, Depletion And Amortization $13.70M $12.80M
YoY Change 0.0% 26.73%
Cash From Operating Activities $208.2M $95.40M
YoY Change -43.3% -39.92%
INVESTING ACTIVITIES
Capital Expenditures -$36.50M -$39.30M
YoY Change 40.38% 68.67%
Acquisitions
YoY Change
Other Investing Activities $5.300M $41.10M
YoY Change -105.64% 1108.82%
Cash From Investing Activities -$31.20M $1.800M
YoY Change -74.0% -109.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.500M -40.80M
YoY Change -98.68% -65.71%
NET CHANGE
Cash From Operating Activities 208.2M 95.40M
Cash From Investing Activities -31.20M 1.800M
Cash From Financing Activities -2.500M -40.80M
Net Change In Cash 174.5M 56.40M
YoY Change 201.9% 183.42%
FREE CASH FLOW
Cash From Operating Activities $208.2M $95.40M
Capital Expenditures -$36.50M -$39.30M
Free Cash Flow $244.7M $134.7M
YoY Change -37.77% -26.03%

Facts In Submission

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Land
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CY2013Q3 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
23000000 USD
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
114000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
171000 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
150000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
125000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18687000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18823000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18773000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18648000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18648000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18516000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18534000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18673000 shares
CY2013Q3 ande Accounts Payable Grain Current
AccountsPayableGrainCurrent
241575000 USD
CY2012Q4 ande Accounts Payable Grain Current
AccountsPayableGrainCurrent
582653000 USD
CY2012Q3 ande Accounts Payable Grain Current
AccountsPayableGrainCurrent
250066000 USD
CY2012Q4 ande Fair Value Assets And Liabilities Measured On Recurring Basis Net
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisNet
172596000 USD
CY2012Q3 ande Fair Value Assets And Liabilities Measured On Recurring Basis Net
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisNet
192095000 USD
CY2013Q3 ande Fair Value Assets And Liabilities Measured On Recurring Basis Net
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisNet
123986000 USD
CY2012Q4 ande Fair Value Assets And Liabilities Measured On Recurring Basis Other
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisOther
5704000 USD
CY2012Q3 ande Fair Value Assets And Liabilities Measured On Recurring Basis Other
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisOther
5549000 USD
CY2013Q3 ande Fair Value Assets And Liabilities Measured On Recurring Basis Other
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisOther
8494000 USD
CY2012Q4 ande Fair Value Assets Measured On Recurring Basis Restricted Cash
FairValueAssetsMeasuredOnRecurringBasisRestrictedCash
398000 USD
CY2012Q3 ande Fair Value Assets Measured On Recurring Basis Restricted Cash
FairValueAssetsMeasuredOnRecurringBasisRestrictedCash
160000 USD
CY2013Q3 ande Fair Value Assets Measured On Recurring Basis Restricted Cash
FairValueAssetsMeasuredOnRecurringBasisRestrictedCash
164000 USD
CY2012Q4 ande Fair Value In Excess Of Less Than Carrying Value
FairValueInExcessOfLessThanCarryingValue
17009000 USD
CY2013Q3 ande Fair Value In Excess Of Less Than Carrying Value
FairValueInExcessOfLessThanCarryingValue
3476000 USD
ande Increase Decrease In Accounts Payable For Grain
IncreaseDecreaseInAccountsPayableForGrain
-141839000 USD
ande Increase Decrease In Accounts Payable For Grain
IncreaseDecreaseInAccountsPayableForGrain
-341078000 USD
CY2012Q4 ande Inventory Fair Value Disclosure
InventoryFairValueDisclosure
7700000 USD
CY2012Q3 ande Inventory Fair Value Disclosure
InventoryFairValueDisclosure
0 USD
CY2013Q3 ande Inventory Fair Value Disclosure
InventoryFairValueDisclosure
0 USD
CY2013Q3 ande Investment In Debt Securities Estimated Fair Value Of Company Investment
InvestmentInDebtSecuritiesEstimatedFairValueOfCompanyInvestment
17700000 USD
ande Investment In Debt Securities Number Of Directors From Common Shareholders
InvestmentInDebtSecuritiesNumberOfDirectorsFromCommonShareholders
2 Director
ande Investment In Debt Securities Number Of Directors From Company
InvestmentInDebtSecuritiesNumberOfDirectorsFromCompany
2 Director
ande Investment In Debt Securities Number Of Directors In Board Of Directors
InvestmentInDebtSecuritiesNumberOfDirectorsInBoardOfDirectors
5 Director
ande Investment In Debt Securities Number Of Independent Director
InvestmentInDebtSecuritiesNumberOfIndependentDirector
1 Director
ande Investment In Debt Securities Number Of Votes Of Directors Required For Decision
InvestmentInDebtSecuritiesNumberOfVotesOfDirectorsRequiredForDecision
4 Director
ande Investment In Debt Securities Ownership Percentage
InvestmentInDebtSecuritiesOwnershipPercentage
0.499
ande Investment In Debt Securities Ownership Percentage Held By Common Shareholders
InvestmentInDebtSecuritiesOwnershipPercentageHeldByCommonShareholders
0.501
ande Investment In Debt Securities Rate Of Dividends Accrue To Company
InvestmentInDebtSecuritiesRateOfDividendsAccrueToCompany
0.14
CY2012Q3 ande Land Improvements And Leasehold Improvements Gross
LandImprovementsAndLeaseholdImprovementsGross
59375000 USD
CY2012Q4 ande Land Improvements And Leasehold Improvements Gross
LandImprovementsAndLeaseholdImprovementsGross
63013000 USD
CY2013Q3 ande Land Improvements And Leasehold Improvements Gross
LandImprovementsAndLeaseholdImprovementsGross
67262000 USD
CY2012Q3 ande Net Derivative Liability Position Collateral Paid
NetDerivativeLiabilityPositionCollateralPaid
0 USD
CY2013Q3 ande Net Derivative Liability Position Collateral Paid
NetDerivativeLiabilityPositionCollateralPaid
0 USD
CY2012Q4 ande Net Derivative Liability Position Collateral Paid
NetDerivativeLiabilityPositionCollateralPaid
0 USD
CY2013Q3 ande Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
524000 USD
ande Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
4048000 USD
ande Payment To Purchases Railcars And Related Leases
PaymentToPurchasesRailcarsAndRelatedLeases
71554000 USD
CY2013Q3 ande Lawn And Garden Fertilizer And Corncob Products Inventory
LawnAndGardenFertilizerAndCorncobProductsInventory
29364000 USD
CY2012Q3 ande Lawn And Garden Fertilizer And Corncob Products Inventory
LawnAndGardenFertilizerAndCorncobProductsInventory
24709000 USD
CY2012Q4 ande Lawn And Garden Fertilizer And Corncob Products Inventory
LawnAndGardenFertilizerAndCorncobProductsInventory
37292000 USD
ande Maximum Period In Which Contracts For Sale Of Grain To Processors Or Other Consumers Extend
MaximumPeriodInWhichContractsForSaleOfGrainToProcessorsOrOtherConsumersExtend
P1Y
ande Payment To Purchases Railcars And Related Leases
PaymentToPurchasesRailcarsAndRelatedLeases
102853000 USD
CY2013Q3 ande Percentage Of New Cumulative Preferred Convertible Shares Acquired
PercentageOfNewCumulativePreferredConvertibleSharesAcquired
1
ande Proceeds From Sale Of Railcars And Related Leases
ProceedsFromSaleOfRailcarsAndRelatedLeases
57315000 USD
ande Proceeds From Sale Of Railcars And Related Leases
ProceedsFromSaleOfRailcarsAndRelatedLeases
87620000 USD
CY2013Q3 ande Railcar Repair Parts Inventory
RailcarRepairPartsInventory
4421000 USD
CY2012Q3 ande Railcar Repair Parts Inventory
RailcarRepairPartsInventory
2852000 USD
CY2012Q4 ande Railcar Repair Parts Inventory
RailcarRepairPartsInventory
3764000 USD
CY2013Q3 ande Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
85000 USD
ande Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
255000 USD
CY2013Q3 ande Reduction In Ownership Percentage
ReductionInOwnershipPercentage
0.02
CY2013Q3 ande Related Party Derivative Asset
RelatedPartyDerivativeAsset
14200000 USD
CY2012Q3 ande Related Party Derivative Asset
RelatedPartyDerivativeAsset
1700000 USD
CY2012Q4 ande Related Party Derivative Asset
RelatedPartyDerivativeAsset
3200000 USD
CY2012Q4 ande Related Party Derivative Liability
RelatedPartyDerivativeLiability
300000 USD
CY2013Q3 ande Related Party Derivative Liability
RelatedPartyDerivativeLiability
3300000 USD
CY2012Q3 ande Related Party Derivative Liability
RelatedPartyDerivativeLiability
4500000 USD
CY2013Q3 ande Related Party Transaction Labor And Benefits Reimbursement From Transactions With Related Party
RelatedPartyTransactionLaborAndBenefitsReimbursementFromTransactionsWithRelatedParty
2682000 USD
ande Related Party Transaction Labor And Benefits Reimbursement From Transactions With Related Party
RelatedPartyTransactionLaborAndBenefitsReimbursementFromTransactionsWithRelatedParty
8943000 USD
ande Related Party Transaction Labor And Benefits Reimbursement From Transactions With Related Party
RelatedPartyTransactionLaborAndBenefitsReimbursementFromTransactionsWithRelatedParty
7948000 USD
CY2012Q3 ande Related Party Transaction Labor And Benefits Reimbursement From Transactions With Related Party
RelatedPartyTransactionLaborAndBenefitsReimbursementFromTransactionsWithRelatedParty
3192000 USD
CY2013Q3 ande Related Party Transaction Lease Income From Transactions With Related Party
RelatedPartyTransactionLeaseIncomeFromTransactionsWithRelatedParty
1590000 USD
CY2012Q3 ande Related Party Transaction Lease Income From Transactions With Related Party
RelatedPartyTransactionLeaseIncomeFromTransactionsWithRelatedParty
1695000 USD
ande Related Party Transaction Lease Income From Transactions With Related Party
RelatedPartyTransactionLeaseIncomeFromTransactionsWithRelatedParty
5428000 USD
ande Related Party Transaction Lease Income From Transactions With Related Party
RelatedPartyTransactionLeaseIncomeFromTransactionsWithRelatedParty
4661000 USD
CY2013Q3 ande Related Party Transaction Other Expenses From Transactions With Related Party
RelatedPartyTransactionOtherExpensesFromTransactionsWithRelatedParty
325000 USD
ande Related Party Transaction Other Expenses From Transactions With Related Party
RelatedPartyTransactionOtherExpensesFromTransactionsWithRelatedParty
615000 USD
ande Related Party Transaction Other Expenses From Transactions With Related Party
RelatedPartyTransactionOtherExpensesFromTransactionsWithRelatedParty
1078000 USD
CY2012Q3 ande Related Party Transaction Other Expenses From Transactions With Related Party
RelatedPartyTransactionOtherExpensesFromTransactionsWithRelatedParty
279000 USD
CY2013Q3 ande Revenues Recognized For Sale Of Corn
RevenuesRecognizedForSaleOfCorn
179100000 USD
ande Revenues Recognized For Sale Of Corn
RevenuesRecognizedForSaleOfCorn
584300000 USD
CY2012Q3 ande Revenues Recognized For Sale Of Corn
RevenuesRecognizedForSaleOfCorn
143400000 USD
ande Revenues Recognized For Sale Of Corn
RevenuesRecognizedForSaleOfCorn
487800000 USD
CY2013Q3 ande Revenues Recognized For Sale Of Ethanol
RevenuesRecognizedForSaleOfEthanol
155900000 USD
ande Revenues Recognized For Sale Of Ethanol
RevenuesRecognizedForSaleOfEthanol
489000000 USD
CY2012Q3 ande Revenues Recognized For Sale Of Ethanol
RevenuesRecognizedForSaleOfEthanol
192800000 USD
ande Revenues Recognized For Sale Of Ethanol
RevenuesRecognizedForSaleOfEthanol
464500000 USD
CY2013Q3 ande Variable Interest Entity Unpaid Accrued Dividends
VariableInterestEntityUnpaidAccruedDividends
5300000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000821026
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
18700000 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
ANDERSONS INC
CY2013Q3 invest Derivative Nonmonetary Notional Amount
DerivativeNonmonetaryNotionalAmount
89000 T
CY2013Q3 invest Derivative Nonmonetary Notional Amount
DerivativeNonmonetaryNotionalAmount
159879000 gal
CY2013Q3 invest Derivative Nonmonetary Notional Amount
DerivativeNonmonetaryNotionalAmount
12921000 lb
CY2013Q3 invest Derivative Nonmonetary Notional Amount
DerivativeNonmonetaryNotionalAmount
429930000 bu

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