$BMI
Badger Meter Inc

2024 Q1 Form 10-K Financial Statement

#000095017024016245 Filed on February 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $196.3M $182.4M $703.6M
YoY Change 23.37% 23.84% 24.4%
Cost Of Revenue $119.1M $111.0M $427.2M
YoY Change 23.7% 22.82% 23.6%
Gross Profit $77.18M $71.47M $276.4M
YoY Change 22.86% 25.45% 25.67%
Gross Profit Margin 39.32% 39.17% 39.29%
Selling, General & Admin $40.60M $39.39M $158.4M
YoY Change 7.49% 14.19% 19.38%
% of Gross Profit 52.61% 55.11% 57.3%
Research & Development $19.00M
YoY Change 20.25%
% of Gross Profit 6.87%
Depreciation & Amortization $8.010M $7.190M $28.11M
YoY Change 15.3% 18.26% 7.12%
% of Gross Profit 10.38% 10.06% 10.17%
Operating Expenses $40.60M $39.39M $158.4M
YoY Change 7.49% 14.19% 19.38%
Operating Profit $36.58M $32.08M $118.0M
YoY Change 46.04% 42.74% 35.23%
Interest Expense $1.526M $1.398M $4.047M
YoY Change 145.34% 200.65% 633.15%
% of Operating Profit 4.17% 4.36% 3.43%
Other Income/Expense, Net -$12.00K -$33.00K -$130.0K
YoY Change -62.5% 0.0% 0.0%
Pretax Income $38.09M $33.44M $122.0M
YoY Change 48.59% 46.01% 39.04%
Income Tax $8.961M $8.723M $29.37M
% Of Pretax Income 23.52% 26.08% 24.08%
Net Earnings $29.13M $24.72M $92.60M
YoY Change 50.04% 40.95% 39.25%
Net Earnings / Revenue 14.84% 13.55% 13.16%
Basic Earnings Per Share $0.99 $0.84 $3.16
Diluted Earnings Per Share $0.99 $0.84 $3.14
COMMON SHARES
Basic Shares Outstanding 29.35M 29.35M 29.28K
Diluted Shares Outstanding 29.49M 29.46K

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $199.3M $191.8M $191.8M
YoY Change 55.27% 38.92% 38.92%
Cash & Equivalents $199.3M $191.8M $191.8M
Short-Term Investments
Other Short-Term Assets $37.11M $13.21M $13.21M
YoY Change 133.54% -0.44% -0.44%
Inventory $160.4M $153.7M $153.7M
Prepaid Expenses
Receivables $92.29M $83.51M $83.51M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $470.6M $442.2M $442.2M
YoY Change 30.42% 27.12% 27.12%
LONG-TERM ASSETS
Property, Plant & Equipment $78.05M $73.88M $73.88M
YoY Change 4.74% 0.46% 0.46%
Goodwill $113.5M $113.2M
YoY Change -0.26% 11.75%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $28.88M $33.96M $33.96M
YoY Change 16.65% 26.71% 26.71%
Total Long-Term Assets $272.9M $274.7M $274.7M
YoY Change 0.12% 7.65% 7.65%
TOTAL ASSETS
Total Short-Term Assets $470.6M $442.2M $442.2M
Total Long-Term Assets $272.9M $274.7M $274.7M
Total Assets $743.5M $716.9M $716.9M
YoY Change 17.38% 18.88% 18.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.91M $81.81M $81.81M
YoY Change -68.69% 14.51% 14.51%
Accrued Expenses $15.59M $29.87M $29.87M
YoY Change 30.07% 45.62% 45.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $135.1M $131.9M $131.9M
YoY Change 16.68% 19.61% 19.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $67.92M $63.43M $63.43M
YoY Change 28.55% 38.9% 38.9%
Total Long-Term Liabilities $67.92M $63.43M $63.43M
YoY Change 28.55% 38.9% 38.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $135.1M $131.9M $131.9M
Total Long-Term Liabilities $67.92M $63.43M $63.43M
Total Liabilities $207.9M $200.4M $200.4M
YoY Change 18.56% 24.79% 24.79%
SHAREHOLDERS EQUITY
Retained Earnings $479.9M $458.7M
YoY Change 17.63% 16.09%
Common Stock $97.69M $96.41M
YoY Change 6.8% 6.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $36.78M $37.00M
YoY Change -1.0% -0.69%
Treasury Stock Shares
Shareholders Equity $535.6M $516.5M $516.5M
YoY Change
Total Liabilities & Shareholders Equity $743.5M $716.9M $716.9M
YoY Change 17.38% 18.88% 18.88%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $29.13M $24.72M $92.60M
YoY Change 50.04% 40.95% 39.25%
Depreciation, Depletion And Amortization $8.010M $7.190M $28.11M
YoY Change 15.3% 18.26% 7.12%
Cash From Operating Activities $21.46M $37.95M $110.1M
YoY Change 19.42% 27.73% 33.55%
INVESTING ACTIVITIES
Capital Expenditures $2.676M $2.054M $12.00M
YoY Change -37.34% -271.02% -303.75%
Acquisitions $3.000M $17.13M
YoY Change -82.41%
Other Investing Activities -$3.000M $0.00 -$17.13M
YoY Change -82.41%
Cash From Investing Activities -$5.676M -$2.054M -$29.13M
YoY Change -73.38% 71.02% 394.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $967.0K
YoY Change 250.36%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.712M -7.918M -28.09M
YoY Change 17.42% 33.14% 14.14%
NET CHANGE
Cash From Operating Activities 21.46M 37.95M 110.1M
Cash From Investing Activities -5.676M -2.054M -29.13M
Cash From Financing Activities -7.712M -7.918M -28.09M
Net Change In Cash 8.072M 27.97M 52.90M
YoY Change -181.36% 23.99% 1.82%
FREE CASH FLOW
Cash From Operating Activities $21.46M $37.95M $110.1M
Capital Expenditures $2.676M $2.054M $12.00M
Free Cash Flow $18.78M $35.89M $98.11M
YoY Change 37.12% 16.12% 11.06%

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<p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</span></p>
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
4037000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
4114000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
121966000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
87717000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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78623000
CY2023 bmi Operating Variable And Short Term Lease Expense
OperatingVariableAndShortTermLeaseExpense
3600000
CY2022 bmi Operating Variable And Short Term Lease Expense
OperatingVariableAndShortTermLeaseExpense
3500000
CY2021 bmi Operating Variable And Short Term Lease Expense
OperatingVariableAndShortTermLeaseExpense
3100000
CY2022 bmi Effective Income Tax Rate Reconciliation Non Deductible Expense Executive Compensation Cost
EffectiveIncomeTaxRateReconciliationNonDeductibleExpenseExecutiveCompensationCost
693000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
120384000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
83680000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
74509000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1582000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
15299000
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
8147000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4720000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3556000
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1242000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
2031000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
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CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-942000
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-375000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
29368000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21221000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17739000
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
25613000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
18421000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
16511000
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
5236000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2938000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2288000
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
571000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
168000
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
340000
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
388000
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
606000
CY2023 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
1548000
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
1016000
CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
770000
CY2023 bmi Effective Income Tax Rate Reconciliation Non Deductible Expense Executive Compensation Cost
EffectiveIncomeTaxRateReconciliationNonDeductibleExpenseExecutiveCompensationCost
930000
CY2021 bmi Effective Income Tax Rate Reconciliation Non Deductible Expense Executive Compensation Cost
EffectiveIncomeTaxRateReconciliationNonDeductibleExpenseExecutiveCompensationCost
685000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-967000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-523000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-1510000
CY2023 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-158000
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-251000
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-239000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
29368000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21221000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17739000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
2959000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
2972000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
4069000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
2209000
CY2023Q4 bmi Deferred Tax Assets Tax Deferred Expense Reserves And Accounts Payable
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccountsPayable
2509000
CY2022Q4 bmi Deferred Tax Assets Tax Deferred Expense Reserves And Accounts Payable
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccountsPayable
2340000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
971000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
1054000
CY2023Q4 bmi Deferred Tax Assets Net Operating Loss And Credit Carryforwards
DeferredTaxAssetsNetOperatingLossAndCreditCarryforwards
4948000
CY2022Q4 bmi Deferred Tax Assets Net Operating Loss And Credit Carryforwards
DeferredTaxAssetsNetOperatingLossAndCreditCarryforwards
2827000
CY2023Q4 bmi Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Deferred Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsDeferredCompensation
1269000
CY2022Q4 bmi Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Deferred Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsDeferredCompensation
1139000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
988000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
1193000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1166000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1120000
CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
8128000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
4793000
CY2023Q4 bmi Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
1071000
CY2022Q4 bmi Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
1262000
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
5744000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
2625000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1359000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
987000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
35181000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
24521000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2690000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
32498000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
21831000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4323000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4454000
CY2023Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
8361000
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
7247000
CY2023Q4 bmi Deferred Tax Liabilities Compensation And Benefits Pensions
DeferredTaxLiabilitiesCompensationAndBenefitsPensions
394000
CY2022Q4 bmi Deferred Tax Liabilities Compensation And Benefits Pensions
DeferredTaxLiabilitiesCompensationAndBenefitsPensions
238000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
1020000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
1258000
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
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CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
525000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
14844000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
13722000
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
17654000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
8109000
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15800000
CY2023Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
14400000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1039000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1172000
CY2023 bmi Unrecognized Tax Benefits Increase Decrease Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreaseDecreaseResultingFromPriorPeriodTaxPositions
84000
CY2022 bmi Unrecognized Tax Benefits Increase Decrease Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreaseDecreaseResultingFromPriorPeriodTaxPositions
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
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CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
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CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
275000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1395000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1039000
CY2023Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
100000
CY2022Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
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CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
703592000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
73878000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
73542000
CY2023Q4 us-gaap Assets
Assets
716919000
CY2022Q4 us-gaap Assets
Assets
603047000
CY2023Q4 bmi Number Of Shareholders
NumberOfShareholders
560
CY2022Q4 bmi Number Of Shareholders
NumberOfShareholders
560
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
186193000
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q1 us-gaap Gross Profit
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CY2023Q2 us-gaap Gross Profit
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CY2023Q3 us-gaap Gross Profit
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72723000
CY2023Q4 us-gaap Gross Profit
GrossProfit
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CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
24721000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.66
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.89
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.84
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.76
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.23
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.23
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.27
CY2023Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.27
CY2023Q1 bmi Market Price Per Share
MarketPricePerShare
121.82
CY2023Q2 bmi Market Price Per Share
MarketPricePerShare
147.56
CY2023Q3 bmi Market Price Per Share
MarketPricePerShare
143.87
CY2023Q4 bmi Market Price Per Share
MarketPricePerShare
154.37
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
132402000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022Q1 us-gaap Gross Profit
GrossProfit
50723000
CY2022Q2 us-gaap Gross Profit
GrossProfit
54760000
CY2022Q3 us-gaap Gross Profit
GrossProfit
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CY2022Q4 us-gaap Gross Profit
GrossProfit
56965000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
14360000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
17933000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.61
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.60
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.61
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.23
CY2022Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.23
CY2022Q1 bmi Market Price Per Share
MarketPricePerShare
99.71
CY2022Q2 bmi Market Price Per Share
MarketPricePerShare
80.89
CY2022Q3 bmi Market Price Per Share
MarketPricePerShare
92.39
CY2022Q4 bmi Market Price Per Share
MarketPricePerShare
109.03
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
703592000
CY2023 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
565568000
CY2022 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
83507000
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
76651000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
59970000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
40700000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
60000000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
10200000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
6800000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5800000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5100000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4200000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
27900000
CY2023 bmi Revenue Practical Expedient Initial Application And Transitions Completed Contract Same Reporting Period
RevenuePracticalExpedientInitialApplicationAndTransitionsCompletedContractSameReportingPeriod
true
CY2022 bmi Revenue Practical Expedient Initial Application And Transitions Completed Contract Same Reporting Period
RevenuePracticalExpedientInitialApplicationAndTransitionsCompletedContractSameReportingPeriod
true
CY2023 us-gaap Revenue Practical Expedient Financing Component
RevenuePracticalExpedientFinancingComponent
true
CY2022 us-gaap Revenue Practical Expedient Financing Component
RevenuePracticalExpedientFinancingComponent
true
CY2023 us-gaap Revenue Practical Expedient Incremental Cost Of Obtaining Contract
RevenuePracticalExpedientIncrementalCostOfObtainingContract
true
CY2022 us-gaap Revenue Practical Expedient Incremental Cost Of Obtaining Contract
RevenuePracticalExpedientIncrementalCostOfObtainingContract
true
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5522000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6533000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5758000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
6792000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
3406000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
3447000
CY2023 bmi Variable And Short Term Lease Expense
VariableAndShortTermLeaseExpense
192000
CY2022 bmi Variable And Short Term Lease Expense
VariableAndShortTermLeaseExpense
76000
CY2023 bmi Operating Variable And Short Term Lease Expense
OperatingVariableAndShortTermLeaseExpense
3598000
CY2022 bmi Operating Variable And Short Term Lease Expense
OperatingVariableAndShortTermLeaseExpense
3523000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2552000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1964000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
837000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
225000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
129000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
942000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6649000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
891000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5758000
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0000950170-24-016245.txt Edgar Link pending
0000950170-24-016245-xbrl.zip Edgar Link pending
bmi-20231231.htm Edgar Link pending
bmi-20231231.xsd Edgar Link pending
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bmi-ex31.htm Edgar Link pending
bmi-ex31_1.htm Edgar Link pending
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bmi-20231231_htm.xml Edgar Link completed
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Financial_Report.xlsx Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable