2020 Q2 Form 10-Q Financial Statement

#000177201620000044 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q3 2019 Q2
Revenue $204.2M $214.5M $237.6M
YoY Change -14.06% -2.46% 9.8%
Cost Of Revenue $135.5M $137.8M $147.1M
YoY Change -7.89% -5.75% 4.92%
Gross Profit $68.70M $76.70M $90.50M
YoY Change -24.09% 4.07% 18.77%
Gross Profit Margin 33.64% 35.76% 38.09%
Selling, General & Admin $32.60M $35.10M $32.20M
YoY Change 1.24% 13.23% 2.55%
% of Gross Profit 47.45% 45.76% 35.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.200M $6.300M $6.300M
YoY Change -1.59% -3.08% -3.08%
% of Gross Profit 9.02% 8.21% 6.96%
Operating Expenses $32.60M $40.70M $32.20M
YoY Change 1.24% 10.9% -13.21%
Operating Profit $30.60M $36.00M $52.80M
YoY Change -42.05% -2.7% 35.04%
Interest Expense $15.30M $0.00
YoY Change
% of Operating Profit 50.0% 0.0%
Other Income/Expense, Net
YoY Change
Pretax Income $15.30M $36.00M $52.80M
YoY Change -71.02% -2.7% 35.04%
Income Tax $1.100M $9.300M $12.50M
% Of Pretax Income 7.19% 25.83% 23.67%
Net Earnings $3.300M $0.00 $0.00
YoY Change -100.0% -100.0%
Net Earnings / Revenue 1.62% 0.0% 0.0%
Basic Earnings Per Share $0.08 $0.00 $0.00
Diluted Earnings Per Share $0.08 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 39.40M shares 0.000 shares
Diluted Shares Outstanding 39.50M shares 0.000 shares

Balance Sheet

Concept 2020 Q2 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.50M $5.500M $3.400M
YoY Change 561.76%
Cash & Equivalents $22.50M $5.500M $3.400M
Short-Term Investments
Other Short-Term Assets $8.600M $7.400M $6.500M
YoY Change 32.31%
Inventory $184.6M $138.2M $113.8M
Prepaid Expenses
Receivables $74.90M $68.40M $94.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $290.6M $219.5M $218.2M
YoY Change 33.18%
LONG-TERM ASSETS
Property, Plant & Equipment $9.900M $11.70M $11.20M
YoY Change -11.61%
Goodwill $65.90M $65.90M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.60M $900.0K $200.0K
YoY Change 6700.0%
Total Long-Term Assets $369.3M $375.0M $379.4M
YoY Change -2.66%
TOTAL ASSETS
Total Short-Term Assets $290.6M $219.5M $218.2M
Total Long-Term Assets $369.3M $375.0M $379.4M
Total Assets $659.9M $594.5M $597.6M
YoY Change 10.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $63.70M $61.70M $60.50M
YoY Change 5.29%
Accrued Expenses $2.400M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $35.00M $0.00
YoY Change
Total Short-Term Liabilities $127.1M $92.70M $88.90M
YoY Change 42.97%
LONG-TERM LIABILITIES
Long-Term Debt $683.9M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $29.30M $1.300M $1.800M
YoY Change 1527.78%
Total Long-Term Liabilities $713.2M $1.300M $1.800M
YoY Change 39522.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $127.1M $92.70M $88.90M
Total Long-Term Liabilities $713.2M $1.300M $1.800M
Total Liabilities $853.0M $108.1M $106.6M
YoY Change 700.19%
SHAREHOLDERS EQUITY
Retained Earnings -$2.133B $0.00
YoY Change
Common Stock $400.0K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.137B $486.4M $491.0M
YoY Change
Total Liabilities & Shareholders Equity $659.9M $594.5M $597.6M
YoY Change 10.43%

Cashflow Statement

Concept 2020 Q2 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $3.300M $0.00 $0.00
YoY Change -100.0% -100.0%
Depreciation, Depletion And Amortization $6.200M $6.300M $6.300M
YoY Change -1.59% -3.08% -3.08%
Cash From Operating Activities $32.30M $38.90M $57.80M
YoY Change -44.12% -4.42% -22.83%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$1.400M -$400.0K
YoY Change -75.0% -50.0% -73.33%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$100.0K -$1.400M -$400.0K
YoY Change -75.0% -50.0% -73.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -86.70M -35.20M -57.00M
YoY Change 52.11% 5.07% -21.92%
NET CHANGE
Cash From Operating Activities 32.30M 38.90M 57.80M
Cash From Investing Activities -100.0K -1.400M -400.0K
Cash From Financing Activities -86.70M -35.20M -57.00M
Net Change In Cash -54.50M 2.300M 400.0K
YoY Change -13725.0% -47.73% 0.0%
FREE CASH FLOW
Cash From Operating Activities $32.30M $38.90M $57.80M
Capital Expenditures -$100.0K -$1.400M -$400.0K
Free Cash Flow $32.40M $40.30M $58.20M
YoY Change -44.33% -7.36% -23.82%

Facts In Submission

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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashAndCashEquivalentsAtCarryingValue
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CashAndCashEquivalentsAtCarryingValue
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CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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14.00
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CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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10900000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2020Q2 brbr Netearningsattributabletoredeemablenoncontrollinginterestpriorto Ipo
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0 USD
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5500000 USD
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NetearningsattributabletoredeemablenoncontrollinginterestsubsequenttoIPO
10900000 USD
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45600000 USD
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40300000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2020Q2 us-gaap Revenues
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us-gaap Revenues
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639900000 USD
brbr Cash Distribution Related Parties
CashDistributionRelatedParties
17300000 USD
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2000000.0 USD
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0.85
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.072
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Net Income Loss
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CY2020Q2 us-gaap Dilutive Securities
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us-gaap Dilutive Securities
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us-gaap Net Income Loss Attributable To Parent Diluted
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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39500000 shares
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0.08
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us-gaap Earnings Per Share Diluted
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0.34
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24800000 USD
CY2019Q3 us-gaap Inventory Raw Materials Net Of Reserves
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26400000 USD
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InventoryWorkInProcess
100000 USD
CY2019Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
100000 USD
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159700000 USD
CY2019Q3 us-gaap Inventory Finished Goods Net Of Reserves
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CY2019Q3 us-gaap Inventory Net
InventoryNet
138200000 USD
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21400000 USD
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PropertyPlantAndEquipmentGross
21100000 USD
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11500000 USD
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9400000 USD
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9900000 USD
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11700000 USD
CY2020Q2 us-gaap Goodwill Gross
GoodwillGross
180700000 USD
CY2020Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
114800000 USD
CY2020Q2 us-gaap Goodwill
Goodwill
65900000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
425900000 USD
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FiniteLivedIntangibleAssetsAccumulatedAmortization
146000000.0 USD
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FiniteLivedIntangibleAssetsNet
279900000 USD
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FiniteLivedIntangibleAssetsGross
425900000 USD
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FiniteLivedIntangibleAssetsAccumulatedAmortization
129400000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
296500000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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900000 USD
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2900000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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2800000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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2500000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1900000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4800000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15800000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1900000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13900000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2700000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2700000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2700000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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2700000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1900000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
4700000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
17400000 USD
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000.0 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
3000000.0 USD
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LeaseAndRentalExpense
600000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2200000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2700000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
CY2020Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
350000000.0 USD
CY2020Q2 brbr Accumulated Other Comprehensive Income Cumulative Changesin Net Lossfrom Hedges Before Tax
AccumulatedOtherComprehensiveIncomeCumulativeChangesinNetLossfromHedgesBeforeTax
-10000000.0 USD
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-9300000 USD
CY2020Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-2300000 USD
CY2020Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-2100000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-1900000 USD
CY2020Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
11200000 USD
CY2020Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1943600000 USD
CY2020Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
737500000 USD
CY2020Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
35000000.0 USD
CY2020Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
7100000 USD
CY2020Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
11500000 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
683900000 USD
CY2019Q4 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
776400000 USD
CY2019Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
14000000.0 USD
CY2019Q4 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9600000 USD
CY2020Q2 brbr Debt Covenant Leverage Ratio
DebtCovenantLeverageRatio
6.00
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000.0 shares
CY2020Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2020Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
737500000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22500000 USD

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