2017 Q2 Form 10-Q Financial Statement

#000156459017015399 Filed on August 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $1.588B $1.383B
YoY Change 14.82% -8.29%
Cost Of Revenue $1.150B $1.116B
YoY Change 3.05% -12.95%
Gross Profit $438.0M $267.0M
YoY Change 64.04% 18.14%
Gross Profit Margin 27.58% 19.31%
Selling, General & Admin $157.0M $174.0M
YoY Change -9.77% 10.83%
% of Gross Profit 35.84% 65.17%
Research & Development $21.00M $17.00M
YoY Change 23.53% -37.04%
% of Gross Profit 4.79% 6.37%
Depreciation & Amortization $71.00M $73.00M
YoY Change -2.74% 8.96%
% of Gross Profit 16.21% 27.34%
Operating Expenses $178.0M $191.0M
YoY Change -6.81% 3.8%
Operating Profit $260.0M $76.00M
YoY Change 242.11% 80.95%
Interest Expense -$43.00M $50.00M
YoY Change -186.0% 78.57%
% of Operating Profit -16.54% 65.79%
Other Income/Expense, Net $23.00M -$4.000M
YoY Change -675.0% -300.0%
Pretax Income $225.0M -$41.00M
YoY Change -648.78% 127.78%
Income Tax $64.00M -$23.00M
% Of Pretax Income 28.44%
Net Earnings $161.0M -$18.00M
YoY Change -994.44% 0.0%
Net Earnings / Revenue 10.14% -1.3%
Basic Earnings Per Share $0.87 -$0.10
Diluted Earnings Per Share $0.84 -$0.10
COMMON SHARES
Basic Shares Outstanding 185.1M 181.5M
Diluted Shares Outstanding 191.1M 181.5M

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.529B $383.0M
YoY Change 299.22% 55.06%
Cash & Equivalents $1.529B $383.0M
Short-Term Investments
Other Short-Term Assets $73.00M $80.00M
YoY Change -8.75% -49.37%
Inventory $848.0M $892.0M
Prepaid Expenses
Receivables $910.0M $849.0M
Other Receivables $84.00M $16.00M
Total Short-Term Assets $3.440B $2.292B
YoY Change 50.09% -7.69%
LONG-TERM ASSETS
Property, Plant & Equipment $2.902B $2.890B
YoY Change 0.42% -14.45%
Goodwill $153.0M
YoY Change -21.94%
Intangibles $8.000M
YoY Change -33.33%
Long-Term Investments $158.0M $157.0M
YoY Change 0.64% 8.28%
Other Assets $384.0M $369.0M
YoY Change 4.07% -21.66%
Total Long-Term Assets $3.612B $3.929B
YoY Change -8.07% -6.5%
TOTAL ASSETS
Total Short-Term Assets $3.440B $2.292B
Total Long-Term Assets $3.612B $3.929B
Total Assets $7.052B $6.221B
YoY Change 13.36% -6.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $985.0M $875.0M
YoY Change 12.57% -4.79%
Accrued Expenses $542.0M $533.0M
YoY Change 1.69% 40.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $14.00M $36.00M
YoY Change -61.11% 125.0%
Total Short-Term Liabilities $1.750B $1.444B
YoY Change 21.19% 0.21%
LONG-TERM LIABILITIES
Long-Term Debt $4.056B $3.823B
YoY Change 6.09% -2.65%
Other Long-Term Liabilities $515.0M $583.0M
YoY Change -11.66% 20.21%
Total Long-Term Liabilities $4.571B $4.406B
YoY Change 3.74% -0.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.750B $1.444B
Total Long-Term Liabilities $4.571B $4.406B
Total Liabilities $6.485B $6.052B
YoY Change 7.15% -3.63%
SHAREHOLDERS EQUITY
Retained Earnings $186.0M -$82.00M
YoY Change -326.83%
Common Stock $2.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $567.0M $165.0M
YoY Change
Total Liabilities & Shareholders Equity $7.052B $6.221B
YoY Change 13.36% -6.94%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $161.0M -$18.00M
YoY Change -994.44% 0.0%
Depreciation, Depletion And Amortization $71.00M $73.00M
YoY Change -2.74% 8.96%
Cash From Operating Activities $183.0M $90.00M
YoY Change 103.33% 1700.0%
INVESTING ACTIVITIES
Capital Expenditures -$69.00M -$79.00M
YoY Change -12.66% -47.33%
Acquisitions
YoY Change
Other Investing Activities $34.00M $11.00M
YoY Change 209.09% -178.57%
Cash From Investing Activities -$35.00M -$68.00M
YoY Change -48.53% -58.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 472.0M -92.00M
YoY Change -613.04% -122.66%
NET CHANGE
Cash From Operating Activities 183.0M 90.00M
Cash From Investing Activities -35.00M -68.00M
Cash From Financing Activities 472.0M -92.00M
Net Change In Cash 620.0M -70.00M
YoY Change -985.71% -128.34%
FREE CASH FLOW
Cash From Operating Activities $183.0M $90.00M
Capital Expenditures -$69.00M -$79.00M
Free Cash Flow $252.0M $169.0M
YoY Change 49.11% 9.03%

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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 (GAAP) in the United States of America (U.S.) 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 U.S. 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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us-gaap Interest Income Expense Net
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-106000000
cc Intercompany Interest Income Expense Net
IntercompanyInterestIncomeExpenseNet
0
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
89000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0
CY2017Q2 cc Intercompany Receivable
IntercompanyReceivable
0
CY2017Q2 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
0
CY2017Q2 cc Investmentsin Subsidiaries
InvestmentsinSubsidiaries
0
CY2017Q2 cc Intercompany Notes Receivable
IntercompanyNotesReceivable
0
CY2017Q2 cc Intercompany Payable
IntercompanyPayable
0
CY2017Q2 cc Intercompany Notes Payable
IntercompanyNotesPayable
0
cc Payments For Proceeds From Intercompany Investing Activities
PaymentsForProceedsFromIntercompanyInvestingActivities
0
cc Payments For Proceeds From Intercompany Short Term Borrowings
PaymentsForProceedsFromIntercompanyShortTermBorrowings
0

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