$DNOW
DNOW Inc.

2018 Q4 Form 10-Q Financial Statement

#000156459018026057 Filed on November 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3
Revenue $764.0M $822.0M
YoY Change 14.2% 17.93%
Cost Of Revenue $607.0M $654.0M
YoY Change 12.2% 16.37%
Gross Profit $157.0M $168.0M
YoY Change 22.66% 24.44%
Gross Profit Margin 20.55% 20.44%
Selling, General & Admin $135.0M $142.0M
YoY Change 5.47% 0.71%
% of Gross Profit 85.99% 84.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00M $9.000M
YoY Change -16.67% -25.0%
% of Gross Profit 6.37% 5.36%
Operating Expenses $135.0M $142.0M
YoY Change 5.47% 0.71%
Operating Profit $22.00M $26.00M
YoY Change -533.33%
Interest Expense -$4.000M -$4.000M
YoY Change 33.33% 100.0%
% of Operating Profit -18.18% -15.38%
Other Income/Expense, Net
YoY Change
Pretax Income $18.00M $22.00M
YoY Change -700.0% -344.44%
Income Tax $10.00M $2.000M
% Of Pretax Income 55.56% 9.09%
Net Earnings $16.00M $20.00M
YoY Change -633.33% -322.22%
Net Earnings / Revenue 2.09% 2.43%
Basic Earnings Per Share $0.14 $0.18
Diluted Earnings Per Share $0.14 $0.18
COMMON SHARES
Basic Shares Outstanding 108.4M 108.4M
Diluted Shares Outstanding 109.0M

Balance Sheet

Concept 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.0M $91.00M
YoY Change 18.37% -8.08%
Cash & Equivalents $116.0M $91.00M
Short-Term Investments
Other Short-Term Assets $19.00M $23.00M
YoY Change 5.56% 4.55%
Inventory $602.0M $599.0M
Prepaid Expenses
Receivables $482.0M $559.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.219B $1.272B
YoY Change 7.97% 10.7%
LONG-TERM ASSETS
Property, Plant & Equipment $106.0M $105.0M
YoY Change -10.92% -16.67%
Goodwill $314.0M
YoY Change -4.27%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00M $12.00M
YoY Change 100.0% 100.0%
Total Long-Term Assets $576.0M $589.0M
YoY Change -7.1% -6.66%
TOTAL ASSETS
Total Short-Term Assets $1.219B $1.272B
Total Long-Term Assets $576.0M $589.0M
Total Assets $1.795B $1.861B
YoY Change 2.63% 4.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $329.0M $356.0M
YoY Change 13.45% 14.84%
Accrued Expenses $110.0M $84.00M
YoY Change 6.8% 0.0%
Deferred Revenue $29.00M $24.00M
YoY Change 52.63%
Short-Term Debt $0.00 $35.00M
YoY Change -100.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $441.0M $467.0M
YoY Change 11.93% 10.66%
LONG-TERM LIABILITIES
Long-Term Debt $132.0M $170.0M
YoY Change -18.52% 4.29%
Other Long-Term Liabilities $2.000M $1.000M
YoY Change 100.0% 0.0%
Total Long-Term Liabilities $134.0M $171.0M
YoY Change -17.79% 4.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $441.0M $467.0M
Total Long-Term Liabilities $134.0M $171.0M
Total Liabilities $581.0M $644.0M
YoY Change 3.01% 8.6%
SHAREHOLDERS EQUITY
Retained Earnings -$678.0M
YoY Change -7.12%
Common Stock $2.035B
YoY Change 0.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.214B $1.217B
YoY Change
Total Liabilities & Shareholders Equity $1.795B $1.861B
YoY Change 2.63% 4.55%

Cashflow Statement

Concept 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $16.00M $20.00M
YoY Change -633.33% -322.22%
Depreciation, Depletion And Amortization $10.00M $9.000M
YoY Change -16.67% -25.0%
Cash From Operating Activities $75.00M $23.00M
YoY Change -1037.5% -169.7%
INVESTING ACTIVITIES
Capital Expenditures -$6.000M -$2.000M
YoY Change 500.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.000M
YoY Change -100.0% 0.0%
Cash From Investing Activities -$6.000M -$1.000M
YoY Change -154.55% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.00M -24.00M
YoY Change 1166.67% -170.59%
NET CHANGE
Cash From Operating Activities 75.00M 23.00M
Cash From Investing Activities -6.000M -1.000M
Cash From Financing Activities -38.00M -24.00M
Net Change In Cash 31.00M -2.000M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $75.00M $23.00M
Capital Expenditures -$6.000M -$2.000M
Free Cash Flow $81.00M $25.00M
YoY Change -1257.14% -180.65%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
98000000
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
423000000
CY2017Q4 us-gaap Inventory Net
InventoryNet
590000000
CY2018Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
150000000
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
166000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1979000000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1890000000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1606000000
us-gaap Net Income Loss
NetIncomeLoss
-49000000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
107695277
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107695277
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-15000000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
38000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11000000
us-gaap Profit Loss
ProfitLoss
36000000
us-gaap Profit Loss
ProfitLoss
-49000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
38000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2018Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
108420773
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2363000000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
441000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
433000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5000000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
76000000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
70000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-107000000
us-gaap Share Based Compensation
ShareBasedCompensation
16000000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-1000000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
143000000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
106000000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
21000000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
81000000
dnow Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
3000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1000000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1000000
us-gaap Share Based Compensation
ShareBasedCompensation
12000000
dnow Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
3000000
us-gaap Inventory Write Down
InventoryWriteDown
8000000
us-gaap Inventory Write Down
InventoryWriteDown
11000000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6000000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-1000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2000000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-3000000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-7000000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
106000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3000000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-7000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
97000000
CY2018Q3 dnow Operating Profit Loss Margin
OperatingProfitLossMargin
0.032
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
0.117
CY2017Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
19000000
CY2018Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
13000000
CY2017Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
15000000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12000000
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
232000000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
238000000
CY2018Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
127000000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
119000000
CY2018Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
40000000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
36000000
CY2018Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
24000000
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
31000000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
33000000
CY2018Q2 us-gaap Debt Instrument Term
DebtInstrumentTerm
P5Y
us-gaap Line Of Credit Facility Initiation Date1
LineOfCreditFacilityInitiationDate1
2018-04-30
CY2018Q2 dnow Senior Secured Revolving Credit Facility Commitment
SeniorSecuredRevolvingCreditFacilityCommitment
750000000
CY2018Q2 dnow Sub Facility For Letters Of Credit
SubFacilityForLettersOfCredit
60000000
CY2018Q2 dnow Percentage Of Swing Line Sub Facility
PercentageOfSwingLineSubFacility
0.10
CY2018Q2 us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
250000000
us-gaap Line Of Credit Facility Description
LineOfCreditFacilityDescription
The Company will be required to maintain a fixed charge coverage ratio of at least 1.00:1.00 as of the end of each fiscal quarter if excess availability under the Credit Facility falls below the greater of 12.5% of the borrowing base or $60 million.
CY2018Q2 dnow Minimum Amount Of Credit Facility Required To Maintain Coverage Ratio Percentage
MinimumAmountOfCreditFacilityRequiredToMaintainCoverageRatioPercentage
0.125
CY2018Q2 dnow Minimum Amount Of Credit Facility Required To Maintain Coverage Ratio
MinimumAmountOfCreditFacilityRequiredToMaintainCoverageRatio
60000000
CY2018Q2 dnow Line Of Credit Facility Covenant Terms Fixed Charge Coverage Ratio
LineOfCreditFacilityCovenantTermsFixedChargeCoverageRatio
1.00
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
dnow Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateProvisionalIncomeTaxExpenseBenefit
9000000
dnow Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit
69000000
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-69000000
us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
33000000
dnow Tax Cuts And Jobs Act Incomplete Accounting Change In Tax Rate Net Operating Loss Deferred Tax Asset Provisional Income Tax Expense
TaxCutsAndJobsActIncompleteAccountingChangeInTaxRateNetOperatingLossDeferredTaxAssetProvisionalIncomeTaxExpense
9000000
CY2018Q3 dnow Increase In Deferred Tax Assets Tax Credit Carryforwards Foreign
IncreaseInDeferredTaxAssetsTaxCreditCarryforwardsForeign
3000000
dnow Tax Cuts And Jobs Act Of2017 Repeal Of Deduction Limitation For Commissions And Performance Based Compensation
TaxCutsAndJobsActOf2017RepealOfDeductionLimitationForCommissionsAndPerformanceBasedCompensation
1000000
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3000000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5000000
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8000000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8000000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20000000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9000000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35000000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-49000000
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
643371
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
313348
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1807822
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.95
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12000000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16000000
CY2018Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
35000000
CY2018Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
10000000

Files In Submission

Name View Source Status
0001564590-18-026057-index-headers.html Edgar Link pending
0001564590-18-026057-index.html Edgar Link pending
0001564590-18-026057.txt Edgar Link pending
0001564590-18-026057-xbrl.zip Edgar Link pending
dnow-10q_20180930.htm Edgar Link pending
dnow-20180930.xml Edgar Link completed
dnow-20180930.xsd Edgar Link pending
dnow-20180930_cal.xml Edgar Link unprocessable
dnow-20180930_def.xml Edgar Link unprocessable
dnow-20180930_lab.xml Edgar Link unprocessable
dnow-20180930_pre.xml Edgar Link unprocessable
dnow-ex311_7.htm Edgar Link pending
dnow-ex312_9.htm Edgar Link pending
dnow-ex321_8.htm Edgar Link pending
dnow-ex322_6.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gfz4n5loy5ex000001.jpg Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending