$GTES
Gates Industrial Corp plc

2021 Q2 Form 10-Q Financial Statement

#000171851221000033 Filed on May 11, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q1
Revenue $881.3M $710.1M
YoY Change 52.87% -11.78%
Cost Of Revenue $535.8M $454.3M
YoY Change 43.65% -8.7%
Gross Profit $345.5M $255.8M
YoY Change 69.78% -16.76%
Gross Profit Margin 39.2% 36.02%
Selling, General & Admin $211.6M $193.4M
YoY Change 15.69% -3.54%
% of Gross Profit 61.24% 75.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $55.80M $54.90M
YoY Change 2.01% -2.14%
% of Gross Profit 16.15% 21.46%
Operating Expenses $211.6M $193.4M
YoY Change 15.69% -3.54%
Operating Profit $128.6M $58.40M
YoY Change 3682.35% -41.72%
Interest Expense $34.40M $36.70M
YoY Change 0.29% -3.67%
% of Operating Profit 26.75% 62.84%
Other Income/Expense, Net $1.200M $2.100M
YoY Change -67.57% -36.36%
Pretax Income $95.40M $23.80M
YoY Change -450.74% -63.61%
Income Tax $18.90M -$16.10M
% Of Pretax Income 19.81% -67.65%
Net Earnings $67.30M $35.60M
YoY Change -400.45% -94.2%
Net Earnings / Revenue 7.64% 5.01%
Basic Earnings Per Share $0.23 $0.12
Diluted Earnings Per Share $0.23 $0.12
COMMON SHARES
Basic Shares Outstanding 291.6M shares 290.5M shares
Diluted Shares Outstanding 296.4M shares 292.1M shares

Balance Sheet

Concept 2021 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $447.4M $626.3M
YoY Change -30.06% 87.74%
Cash & Equivalents $447.4M $626.3M
Short-Term Investments
Other Short-Term Assets $167.6M $137.5M
YoY Change 23.87% 9.65%
Inventory $536.0M $484.4M
Prepaid Expenses
Receivables $819.5M $717.2M
Other Receivables $28.50M $32.50M
Total Short-Term Assets $1.999B $1.998B
YoY Change 2.02% 8.82%
LONG-TERM ASSETS
Property, Plant & Equipment $808.0M $801.3M
YoY Change 2.36% 5.82%
Goodwill $2.087B $1.958B
YoY Change 5.27% -4.73%
Intangibles $1.742B $1.810B
YoY Change -2.74% -7.8%
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $19.80M $15.30M
YoY Change 12.5% -47.06%
Total Long-Term Assets $5.377B $5.187B
YoY Change 3.08% -7.41%
TOTAL ASSETS
Total Short-Term Assets $1.999B $1.998B
Total Long-Term Assets $5.377B $5.187B
Total Assets $7.376B $7.185B
YoY Change 2.79% -3.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $439.9M $383.0M
YoY Change 38.42% -4.2%
Accrued Expenses $269.5M $203.3M
YoY Change 21.12% 8.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $30.30M $54.90M
YoY Change -52.28% 60.53%
Total Short-Term Liabilities $756.6M $667.7M
YoY Change 20.23% 4.05%
LONG-TERM LIABILITIES
Long-Term Debt $2.630B $2.902B
YoY Change -9.53% -0.92%
Other Long-Term Liabilities $69.70M $87.70M
YoY Change -30.78% 9.63%
Total Long-Term Liabilities $2.700B $2.990B
YoY Change -10.24% -0.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $756.6M $667.7M
Total Long-Term Liabilities $2.700B $2.990B
Total Liabilities $4.146B $4.343B
YoY Change -4.34% -2.96%
SHAREHOLDERS EQUITY
Retained Earnings $1.219B $1.108B
YoY Change 12.3% 11.25%
Common Stock $2.900M $2.900M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.852B $2.485B
YoY Change
Total Liabilities & Shareholders Equity $7.376B $7.185B
YoY Change 2.79% -3.4%

Cashflow Statement

Concept 2021 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $67.30M $35.60M
YoY Change -400.45% -94.2%
Depreciation, Depletion And Amortization $55.80M $54.90M
YoY Change 2.01% -2.14%
Cash From Operating Activities -$24.00M $31.10M
YoY Change -159.26% -165.2%
INVESTING ACTIVITIES
Capital Expenditures $18.10M $12.10M
YoY Change -242.52% -43.19%
Acquisitions
YoY Change
Other Investing Activities -$200.0K -$100.0K
YoY Change -200.0%
Cash From Investing Activities -$29.20M -$24.60M
YoY Change 133.6% -22.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.700M $2.100M
YoY Change 75.0%
Debt Paid & Issued, Net $5.500M $6.200M
YoY Change -51.18%
Cash From Financing Activities -$15.10M -$2.900M
YoY Change -5.62% -77.86%
NET CHANGE
Cash From Operating Activities -$24.00M $31.10M
Cash From Investing Activities -$29.20M -$24.60M
Cash From Financing Activities -$15.10M -$2.900M
Net Change In Cash -$74.10M -$9.300M
YoY Change -717.5% -89.63%
FREE CASH FLOW
Cash From Operating Activities -$24.00M $31.10M
Capital Expenditures $18.10M $12.10M
Free Cash Flow -$42.10M $19.00M
YoY Change -179.14% -127.54%

Facts In Submission

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330400000 USD
CY2021Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
360400000 USD
CY2021Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
69700000 USD
CY2021Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
121000000.0 USD
CY2021Q2 us-gaap Liabilities
Liabilities
4146400000 USD
CY2021Q1 us-gaap Liabilities
Liabilities
4241300000 USD
CY2021Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2021Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000 shares
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
291598982 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000 shares
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
290853067 shares
CY2021Q2 us-gaap Common Stock Value
CommonStockValue
2900000 USD
CY2021Q1 us-gaap Common Stock Value
CommonStockValue
2900000 USD
CY2021Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2463100000 USD
CY2021Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2456800000 USD
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-833100000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-805400000 USD
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1218700000 USD
CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1151400000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
2851600000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
2805700000 USD
CY2021Q2 us-gaap Minority Interest
MinorityInterest
378400000 USD
CY2021Q1 us-gaap Minority Interest
MinorityInterest
379300000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3230000000.0 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3185000000.0 USD
CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7376400000 USD
CY2021Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7426300000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
76400000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
39900000 USD
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
55800000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
54900000 USD
CY2021Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-7300000 USD
CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2900000 USD
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
6300000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2900000 USD
CY2021Q2 us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
-4200000 USD
CY2020Q1 us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
-1800000 USD
CY2021Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-9600000 USD
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3700000 USD
CY2021Q2 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
2000000.0 USD
CY2020Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
2700000 USD
CY2021Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
131800000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
42100000 USD
CY2021Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
36200000 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
27500000 USD
CY2021Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
29200000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
19500000 USD
CY2021Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5800000 USD
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6100000 USD
CY2021Q2 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
7100000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-38300000 USD
CY2021Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-20500000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
20400000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24000000.0 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31100000 USD
CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18100000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12100000 USD
CY2021Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2100000 USD
CY2020Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2800000 USD
CY2021Q2 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
10100000 USD
CY2020Q1 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
9800000 USD
CY2021Q2 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
900000 USD
CY2020Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
0 USD
CY2021Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-200000 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-100000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-29200000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-24600000 USD
CY2021Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1700000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2100000 USD
CY2021Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5500000 USD
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6200000 USD
CY2021Q2 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7800000 USD
CY2020Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
300000 USD
CY2021Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3500000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1500000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15100000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2900000 USD
CY2021Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-5800000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-12900000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-74100000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9300000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
524100000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
636600000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
450000000.0 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
627300000 USD
CY2021Q2 us-gaap Interest Paid Net
InterestPaidNet
39800000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
25500000 USD
CY2021Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
21500000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
18500000 USD
CY2021Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
400000 USD
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1900000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3185000000.0 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
76400000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
38700000 USD
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000000.0 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5300000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3230000000.0 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3010700000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
39900000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-214800000 USD
CY2020Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-174900000 USD
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1900000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3700000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2841400000 USD
CY2021Q2 us-gaap Fiscal Period
FiscalPeriod
Accounting periodsThe Company prepares its annual consolidated financial statements for the period ending on the Saturday nearest December 31. Accordingly, the condensed consolidated balance sheet is presented as of April 3, 2021 and January 2, 2021 and the related condensed consolidated statements of operations, comprehensive income, cash flows, and shareholders’ equity are presented, where relevant, for the 91 day period from January 3, 2021 to April 3, 2021, with comparative information for the 91 day period from December 29, 2019 to March 28, 2020.
CY2021Q2 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
Recent accounting pronouncements not yet adoptedNone.
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
881300000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
710100000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
881300000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
710100000 USD
CY2021Q2 gtes Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
196300000 USD
CY2020Q1 gtes Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
120800000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18900000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
76500000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
39900000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16100000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
95400000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
23800000 USD
CY2021Q2 us-gaap Interest Expense
InterestExpense
34400000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
36700000 USD
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1200000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2100000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
128600000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
58400000 USD
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
55800000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
54900000 USD
CY2021Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2400000 USD
CY2020Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
-200000 USD
CY2021Q2 gtes Restructuring Charges Including Adjustments
RestructuringChargesIncludingAdjustments
2900000 USD
CY2020Q1 gtes Restructuring Charges Including Adjustments
RestructuringChargesIncludingAdjustments
1900000 USD
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
6300000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2900000 USD
CY2021Q2 us-gaap Sponsor Fees
SponsorFees
0 USD
CY2020Q1 us-gaap Sponsor Fees
SponsorFees
1700000 USD
CY2021Q2 gtes Other Cost And Expense Income Operating Excluding Sponsor Fees
OtherCostAndExpenseIncomeOperatingExcludingSponsorFees
0 USD
CY2020Q1 gtes Other Cost And Expense Income Operating Excluding Sponsor Fees
OtherCostAndExpenseIncomeOperatingExcludingSponsorFees
600000 USD
CY2021Q2 gtes Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
196300000 USD
CY2020Q1 gtes Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
120800000 USD
CY2021Q2 us-gaap Restructuring Charges
RestructuringCharges
2900000 USD
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
1900000 USD
CY2021Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
300000 USD
CY2020Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
600000 USD
CY2021Q2 us-gaap Restructuring Charges
RestructuringCharges
2900000 USD
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
1900000 USD
CY2021Q1 us-gaap Restructuring Reserve
RestructuringReserve
17900000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
2900000 USD
CY2021Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
7000000.0 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
2000000.0 USD
CY2021Q2 gtes Net Restructuring Charges
NetRestructuringCharges
3800000 USD
CY2020Q1 gtes Net Restructuring Charges
NetRestructuringCharges
2400000 USD
CY2021Q2 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-900000 USD
CY2020Q1 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-500000 USD
CY2021Q2 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
600000 USD
CY2020Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-100000 USD
CY2021Q2 us-gaap Restructuring Reserve
RestructuringReserve
13200000 USD
CY2020Q1 us-gaap Restructuring Reserve
RestructuringReserve
2900000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18900000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
95400000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.198
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16100000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
23800000 USD
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.676
CY2021Q2 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
-21600000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
67300000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
35600000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
291166994 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
290609974 shares
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5196273 shares
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1501279 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
296363267 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
292111253 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4387520 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5508174 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2021Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
155900000 USD
CY2021Q1 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
135100000 USD
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
38000000.0 USD
CY2021Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
34300000 USD
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
342100000 USD
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
338800000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
536000000.0 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
508200000 USD
CY2021Q1 us-gaap Goodwill
Goodwill
2120200000 USD
CY2021Q2 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-33100000 USD
CY2021Q2 us-gaap Goodwill
Goodwill
2087100000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2230300000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
957500000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1272800000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2253800000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
934600000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1319200000 USD
CY2021Q2 gtes Indefinite Lived Intangible Assets Excluding Goodwill Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillGross
513400000 USD
CY2021Q2 gtes Indefinite Lived Intangible Assets Excluding Goodwill Impaired Accumulated Impairment Loss
IndefiniteLivedIntangibleAssetsExcludingGoodwillImpairedAccumulatedImpairmentLoss
44000000.0 USD
CY2021Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
469400000 USD
CY2021Q1 gtes Indefinite Lived Intangible Assets Excluding Goodwill Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillGross
513400000 USD
CY2021Q1 gtes Indefinite Lived Intangible Assets Excluding Goodwill Impaired Accumulated Impairment Loss
IndefiniteLivedIntangibleAssetsExcludingGoodwillImpairedAccumulatedImpairmentLoss
44000000.0 USD
CY2021Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
469400000 USD
CY2021Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2743700000 USD
CY2021Q2 gtes Intangible Assets Excluding Goodwill Accumulated Amortization And Impairment Loss
IntangibleAssetsExcludingGoodwillAccumulatedAmortizationAndImpairmentLoss
1001500000 USD
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1742200000 USD
CY2021Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2767200000 USD
CY2021Q1 gtes Intangible Assets Excluding Goodwill Accumulated Amortization And Impairment Loss
IntangibleAssetsExcludingGoodwillAccumulatedAmortizationAndImpairmentLoss
978600000 USD
CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1788600000 USD
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
33400000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32200000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
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CY2021Q1 us-gaap Deferred Finance Costs Net
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CY2021Q1 us-gaap Long Term Debt
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CY2021Q2 us-gaap Long Term Debt Noncurrent
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1100000 USD
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CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
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15.06
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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9.61
CY2021Q2 us-gaap Proceeds From Stock Options Exercised
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1700000 USD
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
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2100000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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2155560 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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15.81
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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14.80
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CY2021Q2 gtes Vesting Of Restricted Sharesand Stock Units Shares
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529909 shares
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190632 shares
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0 USD
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0 USD
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CY2021Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
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2500000 USD
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2600000 USD
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-800000 USD
CY2021Q2 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
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0 USD
CY2020Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
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200000 USD
CY2021Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
19400000 USD
CY2020Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
18300000 USD

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