$CC
Chemours Co

2017 Q1 Form 10-Q Financial Statement

#000156459017008323 Filed on May 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $1.437B $1.297B
YoY Change 10.79% -4.84%
Cost Of Revenue $1.081B $1.095B
YoY Change -1.28% -1.44%
Gross Profit $356.0M $202.0M
YoY Change 76.24% -19.84%
Gross Profit Margin 24.77% 15.57%
Selling, General & Admin $150.0M $133.0M
YoY Change 12.78% -20.36%
% of Gross Profit 42.13% 65.84%
Research & Development $19.00M $23.00M
YoY Change -17.39% 0.0%
% of Gross Profit 5.34% 11.39%
Depreciation & Amortization $71.00M $66.00M
YoY Change 7.58% 3.13%
% of Gross Profit 19.94% 32.67%
Operating Expenses $181.0M $156.0M
YoY Change 16.03% -17.89%
Operating Profit $175.0M $46.00M
YoY Change 280.43% -25.81%
Interest Expense $51.00M $57.00M
YoY Change -10.53%
% of Operating Profit 29.14% 123.91%
Other Income/Expense, Net $42.00M $93.00M
YoY Change -54.84% 933.33%
Pretax Income $173.0M $70.00M
YoY Change 147.14% 20.69%
Income Tax $22.00M $19.00M
% Of Pretax Income 12.72% 27.14%
Net Earnings $150.0M $51.00M
YoY Change 194.12% 18.6%
Net Earnings / Revenue 10.44% 3.93%
Basic Earnings Per Share $0.82 $0.28
Diluted Earnings Per Share $0.79 $0.28
COMMON SHARES
Basic Shares Outstanding 183.4M 181.3M
Diluted Shares Outstanding 189.1M 181.5M

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $898.0M $435.0M
YoY Change 106.44%
Cash & Equivalents $898.0M $435.0M
Short-Term Investments
Other Short-Term Assets $73.00M $83.00M
YoY Change -12.05% 10.67%
Inventory $822.0M $948.0M
Prepaid Expenses $70.00M
Receivables $840.0M $816.0M
Other Receivables $81.00M $16.00M
Total Short-Term Assets $2.711B $2.371B
YoY Change 14.34% 13.07%
LONG-TERM ASSETS
Property, Plant & Equipment $2.833B $3.199B
YoY Change -11.44% -2.62%
Goodwill $165.0M
YoY Change
Intangibles $10.00M
YoY Change
Long-Term Investments $149.0M $144.0M
YoY Change 3.47% -12.2%
Other Assets $420.0M $491.0M
YoY Change -14.46% 45.7%
Total Long-Term Assets $3.571B $4.009B
YoY Change -10.93% -2.84%
TOTAL ASSETS
Total Short-Term Assets $2.711B $2.371B
Total Long-Term Assets $3.571B $4.009B
Total Assets $6.282B $6.380B
YoY Change -1.54% 2.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $941.0M $842.0M
YoY Change 11.76% -8.97%
Accrued Expenses $780.0M $611.0M
YoY Change 27.66% 105.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $14.00M $34.00M
YoY Change -58.82%
Total Short-Term Liabilities $1.735B $1.487B
YoY Change 16.68% 20.8%
LONG-TERM LIABILITIES
Long-Term Debt $3.538B $3.920B
YoY Change -9.74%
Other Long-Term Liabilities $511.0M $542.0M
YoY Change -5.72% 17.83%
Total Long-Term Liabilities $4.049B $4.462B
YoY Change -9.26% 870.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.735B $1.487B
Total Long-Term Liabilities $4.049B $4.462B
Total Liabilities $5.924B $6.188B
YoY Change -4.27% 194.95%
SHAREHOLDERS EQUITY
Retained Earnings $31.00M -$64.00M
YoY Change -148.44%
Common Stock $2.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $353.0M $188.0M
YoY Change
Total Liabilities & Shareholders Equity $6.282B $6.380B
YoY Change -1.54% 2.52%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $150.0M $51.00M
YoY Change 194.12% 18.6%
Depreciation, Depletion And Amortization $71.00M $66.00M
YoY Change 7.58% 3.13%
Cash From Operating Activities $41.00M $36.00M
YoY Change 13.89% -115.13%
INVESTING ACTIVITIES
Capital Expenditures $69.00M $89.00M
YoY Change -22.47% -35.04%
Acquisitions
YoY Change
Other Investing Activities $6.000M $139.0M
YoY Change -95.68% -731.82%
Cash From Investing Activities -$63.00M $50.00M
YoY Change -226.0% -131.45%
FINANCING ACTIVITIES
Cash Dividend Paid $5.000M $5.000M
YoY Change 0.0%
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $4.000M $9.000M
YoY Change -55.56%
Cash From Financing Activities 11.00M -$16.00M
YoY Change -168.75% -104.03%
NET CHANGE
Cash From Operating Activities 41.00M 36.00M
Cash From Investing Activities -63.00M 50.00M
Cash From Financing Activities 11.00M -$16.00M
Net Change In Cash -11.00M 70.00M
YoY Change -115.71%
FREE CASH FLOW
Cash From Operating Activities $41.00M $36.00M
Capital Expenditures $69.00M $89.00M
Free Cash Flow -$28.00M -$53.00M
YoY Change -47.17% -85.87%

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<div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1. Basis of Presentation</p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP) for interim financial information.&nbsp;&nbsp;In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the results for interim periods have been included.&nbsp;&nbsp;Results for interim periods should not be considered indicative of results for a full year and the year-end consolidated balance sheet does not include all disclosures required by GAAP. As such, these interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December&#160;31, 2016.</p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Unless the context otherwise requires, references herein to &#8220;The Chemours Company&#8221;, &#8220;Chemours&#8221;, &#8220;the Company&#8221;, &#8220;our company&#8221;, &#8220;we&#8221;, &#8220;us&#8221;, and &#8220;our&#8221; refer to The Chemours Company and its consolidated subsidiaries.&nbsp;&nbsp;References herein to &#8220;DuPont&#8221; refer to E.I. du Pont de Nemours and Company, a Delaware corporation, and its consolidated subsidiaries (other than Chemours and its consolidated subsidiaries), unless the context otherwise requires.</p></div>
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CY2017Q1 us-gaap Long Term Debt And Capital Lease Obligations
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CY2017Q1 us-gaap Revenues
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CY2016Q1 cc Restructuring Charges And Severance Costs
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CY2017Q1 cc Transaction Fees
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CY2016Q1 cc Transaction Fees
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CY2017Q1 us-gaap Other Nonoperating Income Expense
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CY2017Q1 cc Intercompany Receivable
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CY2017Q1 cc Investmentsin Subsidiaries
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CY2017Q1 cc Intercompany Notes Receivable
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CY2017Q1 cc Intercompany Payable
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CY2017Q1 cc Intercompany Notes Payable
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CY2017Q1 cc Payments For Proceeds From Intercompany Investing Activities
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CY2017Q1 cc Payments For Proceeds From Intercompany Short Term Borrowings
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