2014 Q4 Form 10-Q Financial Statement
#000119312514413280 Filed on November 14, 2014
Income Statement
| Concept | 2014 Q4 |
|---|---|
| Revenue | $1.087B |
| YoY Change | -1.78% |
| Cost Of Revenue | $723.1M |
| YoY Change | 2.41% |
| Gross Profit | $363.9M |
| YoY Change | -9.16% |
| Gross Profit Margin | 33.48% |
| Selling, General & Admin | $244.8M |
| YoY Change | -33.28% |
| % of Gross Profit | 67.27% |
| Research & Development | $12.70M |
| YoY Change | 33.68% |
| % of Gross Profit | 3.49% |
| Depreciation & Amortization | $79.60M |
| YoY Change | 9.49% |
| % of Gross Profit | 21.87% |
| Operating Expenses | $278.0M |
| YoY Change | -30.03% |
| Operating Profit | $85.90M |
| YoY Change | 2503.03% |
| Interest Expense | -$87.30M |
| YoY Change | -336.59% |
| % of Operating Profit | -101.63% |
| Other Income/Expense, Net | -$13.80M |
| YoY Change | -85.86% |
| Pretax Income | -$15.20M |
| YoY Change | -73.52% |
| Income Tax | -$16.10M |
| % Of Pretax Income | |
| Net Earnings | -$2.200M |
| YoY Change | -95.54% |
| Net Earnings / Revenue | -0.2% |
| Basic Earnings Per Share | |
| Diluted Earnings Per Share | -$9.582K |
| COMMON SHARES | |
| Basic Shares Outstanding | 229.8M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2014 Q4 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $382.1M |
| YoY Change | -16.81% |
| Cash & Equivalents | $382.1M |
| Short-Term Investments | |
| Other Short-Term Assets | $132.1M |
| YoY Change | 64.71% |
| Inventory | $538.3M |
| Prepaid Expenses | $62.90M |
| Receivables | $638.3M |
| Other Receivables | $182.1M |
| Total Short-Term Assets | $1.873B |
| YoY Change | -4.23% |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $1.514B |
| YoY Change | -6.69% |
| Goodwill | $1.001B |
| YoY Change | |
| Intangibles | $1.300B |
| YoY Change | |
| Long-Term Investments | $14.30M |
| YoY Change | -30.92% |
| Other Assets | $482.6M |
| YoY Change | -17.5% |
| Total Long-Term Assets | $4.298B |
| YoY Change | -10.12% |
| TOTAL ASSETS | |
| Total Short-Term Assets | $1.873B |
| Total Long-Term Assets | $4.298B |
| Total Assets | $6.171B |
| YoY Change | -8.41% |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $494.5M |
| YoY Change | 15.32% |
| Accrued Expenses | $404.8M |
| YoY Change | -9.32% |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $12.20M |
| YoY Change | |
| Long-Term Debt Due | $27.90M |
| YoY Change | -40.26% |
| Total Short-Term Liabilities | $946.7M |
| YoY Change | -5.65% |
| LONG-TERM LIABILITIES | |
| Long-Term Debt | $3.574B |
| YoY Change | -7.74% |
| Other Long-Term Liabilities | $23.20M |
| YoY Change | -93.68% |
| Total Long-Term Liabilities | $23.20M |
| YoY Change | -99.45% |
| TOTAL LIABILITIES | |
| Total Short-Term Liabilities | $946.7M |
| Total Long-Term Liabilities | $23.20M |
| Total Liabilities | $5.059B |
| YoY Change | -9.57% |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | -$226.5M |
| YoY Change | |
| Common Stock | $1.375B |
| YoY Change | |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | |
| YoY Change | |
| Treasury Stock Shares | |
| Shareholders Equity | $1.045B |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $6.171B |
| YoY Change | -8.41% |
Cashflow Statement
| Concept | 2014 Q4 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | -$2.200M |
| YoY Change | -95.54% |
| Depreciation, Depletion And Amortization | $79.60M |
| YoY Change | 9.49% |
| Cash From Operating Activities | $192.0M |
| YoY Change | 70.06% |
| INVESTING ACTIVITIES | |
| Capital Expenditures | -$32.80M |
| YoY Change | -42.36% |
| Acquisitions | |
| YoY Change | |
| Other Investing Activities | $8.000M |
| YoY Change | -128.37% |
| Cash From Investing Activities | -$24.80M |
| YoY Change | -70.86% |
| FINANCING ACTIVITIES | |
| Cash Dividend Paid | |
| YoY Change | |
| Common Stock Issuance & Retirement, Net | |
| YoY Change | |
| Debt Paid & Issued, Net | |
| YoY Change | |
| Cash From Financing Activities | -2.700M |
| YoY Change | -86.01% |
| NET CHANGE | |
| Cash From Operating Activities | 192.0M |
| Cash From Investing Activities | -24.80M |
| Cash From Financing Activities | -2.700M |
| Net Change In Cash | 164.5M |
| YoY Change | 1835.29% |
| FREE CASH FLOW | |
| Cash From Operating Activities | $192.0M |
| Capital Expenditures | -$32.80M |
| Free Cash Flow | $224.8M |
| YoY Change | 32.39% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2014Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
229779626 | shares |
| us-gaap |
Business Acquisition Date Of Acquisition Agreement1
BusinessAcquisitionDateOfAcquisitionAgreement1
|
2012-08-30 | ||
| dei |
Document Type
DocumentType
|
10-Q | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
Axalta Coating Systems Ltd. | ||
| dei |
Trading Symbol
TradingSymbol
|
AXTA | ||
| dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
| dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2012-08-24 | ||
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2014-09-30 | ||
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | ||
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001616862 | ||
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
| us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 0pt"> <b><i>Reclassification and revisions</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> In October 2014, the Board of Directors approved a 1.69-for-1 stock split of the Company’s issued and outstanding common shares, which was effective on October 28, 2014. The stock split did not change the par value of the Company’s common shares. The condensed consolidated financial statements have been retroactively adjusted to give effect to the stock split.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> During the third quarter ended September 30, 2014, the Company identified errors in the determination of the effective interest rate amortization for the Deferred Financing Costs and Original Issue Discounts that were incurred in 2013. Refer to our annual report and Note 18 included herein for further details.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> Certain reclassifications have been made to Net sales, Other (income) expense, net, and Selling, general and administrative expenses on the Predecessor combined statements of operations to conform to the Successor presentation.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> As of December 31, 2013 we completed our accounting associated with the Acquisition, the finalization of our valuations, and the refinement of our assumptions impacted the recognized values assigned to assets acquired and liabilities assumed, including impacts to net sales and income tax benefit for the three and nine months ended September 30, 2013. Net sales and income tax benefit as a result of these refinements were adjusted by a $3.4 million increase and a $10.6 million decrease, respectively, for the three months ended September 30, 2013, and a $7.8 million increase and a $1.5 million decrease, respectively, for the nine months ended September 30, 2013.</p> </div> |
