$GTES
Gates Industrial Corp plc

2024 Q2 Form 10-Q Financial Statement

#000171851224000036 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $885.5M $862.6M
YoY Change -1.36%
Cost Of Revenue $528.1M $518.7M
YoY Change -7.77%
Gross Profit $357.4M $343.9M
YoY Change 9.94%
Gross Profit Margin 40.36% 39.87%
Selling, General & Admin $218.3M $211.5M
YoY Change -5.95%
% of Gross Profit 61.08% 61.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $54.50M $54.60M
YoY Change 0.0%
% of Gross Profit 15.25% 15.88%
Operating Expenses $218.3M $211.5M
YoY Change -5.95%
Operating Profit $136.2M $132.4M
YoY Change 56.01%
Interest Expense -$49.10M -$34.40M
YoY Change -220.34%
% of Operating Profit -36.05% -25.98%
Other Income/Expense, Net $3.100M -$1.600M
YoY Change -1133.33%
Pretax Income $90.20M $80.70M
YoY Change 95.24%
Income Tax $12.30M $34.50M
% Of Pretax Income 13.64% 42.75%
Net Earnings $70.70M $40.00M
YoY Change 167.8%
Net Earnings / Revenue 7.98% 4.64%
Basic Earnings Per Share $0.27 $0.15
Diluted Earnings Per Share $0.26 $0.15
COMMON SHARES
Basic Shares Outstanding 261.4M shares 264.3M shares
Diluted Shares Outstanding 266.8M shares 267.4M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $579.7M $522.2M
YoY Change -2.56%
Cash & Equivalents $579.7M $522.2M
Short-Term Investments
Other Short-Term Assets $237.9M $245.8M
YoY Change 0.63%
Inventory $696.5M $677.2M
Prepaid Expenses
Receivables $807.5M $797.7M
Other Receivables $54.90M $44.20M
Total Short-Term Assets $2.377B $2.287B
YoY Change 0.84%
LONG-TERM ASSETS
Property, Plant & Equipment $727.3M $740.1M
YoY Change -5.2%
Goodwill $1.967B $2.013B
YoY Change -2.43%
Intangibles $1.309B $1.347B
YoY Change -10.94%
Long-Term Investments
YoY Change
Other Assets $20.40M $640.9M
YoY Change -49.75%
Total Long-Term Assets $4.658B $4.759B
YoY Change -5.43%
TOTAL ASSETS
Total Short-Term Assets $2.377B $2.287B
Total Long-Term Assets $4.658B $4.759B
Total Assets $7.035B $7.046B
YoY Change -3.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $441.3M $451.4M
YoY Change -2.39%
Accrued Expenses $238.9M $223.7M
YoY Change 4.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $21.80M $27.90M
YoY Change -21.3%
Total Short-Term Liabilities $763.4M $747.9M
YoY Change 3.41%
LONG-TERM LIABILITIES
Long-Term Debt $2.310B $2.313B
YoY Change -4.66%
Other Long-Term Liabilities $87.90M $375.2M
YoY Change -22.14%
Total Long-Term Liabilities $2.398B $2.688B
YoY Change -5.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $763.4M $747.9M
Total Long-Term Liabilities $2.398B $2.688B
Total Liabilities $3.541B $3.867B
YoY Change -5.05%
SHAREHOLDERS EQUITY
Retained Earnings $1.523B $1.452B
YoY Change 0.87%
Common Stock $2.600M $2.600M
YoY Change -7.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.177B $3.179B
YoY Change
Total Liabilities & Shareholders Equity $7.035B $7.046B
YoY Change -3.4%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $70.70M $40.00M
YoY Change 167.8%
Depreciation, Depletion And Amortization $54.50M $54.60M
YoY Change 0.0%
Cash From Operating Activities $93.80M -$21.00M
YoY Change 78.67%
INVESTING ACTIVITIES
Capital Expenditures $27.20M $18.10M
YoY Change 130.51%
Acquisitions
YoY Change
Other Investing Activities $6.600M -$1.400M
YoY Change
Cash From Investing Activities -$20.60M -$19.50M
YoY Change -31.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $104.9M
YoY Change
Cash From Financing Activities -8.700M -148.9M
YoY Change 314.29%
NET CHANGE
Cash From Operating Activities 93.80M -21.00M
Cash From Investing Activities -20.60M -19.50M
Cash From Financing Activities -8.700M -148.9M
Net Change In Cash 64.50M -189.4M
YoY Change 293.29%
FREE CASH FLOW
Cash From Operating Activities $93.80M -$21.00M
Capital Expenditures $27.20M $18.10M
Free Cash Flow $66.60M -$39.10M
YoY Change 63.64%

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CY2024Q1 us-gaap Liabilities And Stockholders Equity
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CY2023Q4 us-gaap Liabilities And Stockholders Equity
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7254500000 usd
CY2024Q1 us-gaap Profit Loss
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46100000 usd
CY2023Q2 us-gaap Profit Loss
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30600000 usd
CY2024Q1 us-gaap Depreciation Depletion And Amortization
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54600000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
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54500000 usd
CY2024Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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11100000 usd
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2024Q1 us-gaap Share Based Compensation
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8600000 usd
CY2023Q2 us-gaap Share Based Compensation
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CY2024Q1 us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
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CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
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38700000 usd
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27700000 usd
CY2024Q1 us-gaap Increase Decrease In Inventories
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36900000 usd
CY2023Q2 us-gaap Increase Decrease In Inventories
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CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2024Q1 us-gaap Increase Decrease In Accrued Taxes Payable
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CY2023Q2 us-gaap Increase Decrease In Accrued Taxes Payable
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CY2023Q2 us-gaap Increase Decrease In Other Operating Liabilities
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1500000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q2 us-gaap Net Cash Provided By Used In Operating Activities
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52500000 usd
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
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16000000.0 usd
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11800000 usd
CY2024Q1 us-gaap Payments To Acquire Intangible Assets
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CY2023Q2 us-gaap Payments To Acquire Intangible Assets
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CY2024Q1 us-gaap Payments To Acquire Life Insurance Policies
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4100000 usd
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17000000.0 usd
CY2024Q1 us-gaap Proceeds From Life Insurance Policies
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2700000 usd
CY2023Q2 us-gaap Proceeds From Life Insurance Policies
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1500000 usd
CY2024Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2023Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
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200000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q2 us-gaap Net Cash Provided By Used In Investing Activities
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CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
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11300000 usd
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
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50300000 usd
CY2023Q2 us-gaap Payments For Repurchase Of Common Stock
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CY2024Q1 us-gaap Repayments Of Long Term Debt
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104900000 usd
CY2023Q2 us-gaap Repayments Of Long Term Debt
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CY2024Q1 us-gaap Payments Of Debt Issuance Costs
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3800000 usd
CY2023Q2 us-gaap Proceeds From Payments For Other Financing Activities
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CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q2 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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16400000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
581400000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
525700000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
597800000 usd
CY2024Q1 us-gaap Interest Paid Net
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45500000 usd
CY2023Q2 us-gaap Interest Paid Net
InterestPaidNet
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CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
36500000 usd
CY2023Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
27300000 usd
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1600000 usd
CY2023Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
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2000000.0 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3543900000 usd
CY2024Q1 us-gaap Profit Loss
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46100000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2024Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2024Q1 us-gaap Stock Issued During Period Value New Issues
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CY2024Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2024Q1 us-gaap Stock Repurchased During Period Value
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50500000 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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6200000 usd
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3495400000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3443600000 usd
CY2023Q2 us-gaap Profit Loss
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30600000 usd
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CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
92200000 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
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CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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8100000 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3553600000 usd
CY2024Q1 us-gaap Fiscal Period
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Accounting periods<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:138%">The 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 March 30, 2024 and December 30, 2023 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 December 31, 2023 to March 30, 2024, with comparative information for the 91 day period from January 1, 2023 to April 1, 2023.</span></div>
CY2024Q1 us-gaap Trade Receivables Held For Sale Amount
TradeReceivablesHeldForSaleAmount
119300000 usd
CY2023Q4 us-gaap Trade Receivables Held For Sale Amount
TradeReceivablesHeldForSaleAmount
112400000 usd
CY2024Q1 gtes Costs Related To The Reclassification Of Accounts Receivables
CostsRelatedToTheReclassificationOfAccountsReceivables
3200000 usd
CY2023Q2 gtes Costs Related To The Reclassification Of Accounts Receivables
CostsRelatedToTheReclassificationOfAccountsReceivables
1400000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
862600000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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897700000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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862600000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
897700000 usd
CY2024Q1 gtes Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
195600000 usd
CY2023Q2 gtes Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
174500000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
46200000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
30900000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
34500000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15300000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
80700000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
46200000 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
37500000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
40800000 usd
CY2024Q1 us-gaap Other Nonoperating Income Expense
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1500000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
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CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
116700000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
87300000 usd
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
54600000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
54500000 usd
CY2024Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
400000 usd
CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
200000 usd
CY2024Q1 gtes Restructuring Charges Including Adjustments
RestructuringChargesIncludingAdjustments
1200000 usd
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RestructuringChargesIncludingAdjustments
5500000 usd
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8600000 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
9500000 usd
CY2024Q1 gtes Nonrecurring Income Expense Inventory Adjustments
NonrecurringIncomeExpenseInventoryAdjustments
13900000 usd
CY2023Q2 gtes Nonrecurring Income Expense Inventory Adjustments
NonrecurringIncomeExpenseInventoryAdjustments
600000 usd
CY2024Q1 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
100000 usd
CY2023Q2 us-gaap Other Nonrecurring Expense
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10700000 usd
CY2024Q1 us-gaap Unusual Or Infrequent Item Net Of Insurance Proceeds
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0 usd
CY2023Q2 us-gaap Unusual Or Infrequent Item Net Of Insurance Proceeds
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5100000 usd
CY2024Q1 gtes Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
195600000 usd
CY2023Q2 gtes Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
174500000 usd
CY2024Q1 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
100000 usd
CY2024Q1 us-gaap Restructuring Charges
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1200000 usd
CY2023Q2 us-gaap Restructuring Charges
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5500000 usd
CY2024Q1 us-gaap Restructuring Costs And Asset Impairment Charges
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100000 usd
CY2023Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
1100000 usd
CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
1200000 usd
CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
5500000 usd
CY2023Q4 us-gaap Restructuring Reserve
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5100000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
7500000 usd
CY2024Q1 us-gaap Payments For Restructuring
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2700000 usd
CY2023Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
6700000 usd
CY2024Q1 gtes Net Restructuring Charges
NetRestructuringCharges
1900000 usd
CY2023Q2 gtes Net Restructuring Charges
NetRestructuringCharges
5600000 usd
CY2024Q1 us-gaap Restructuring Reserve Accrual Adjustment1
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CY2023Q2 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
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CY2024Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
100000 usd
CY2023Q2 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
0 usd
CY2024Q1 us-gaap Restructuring Reserve
RestructuringReserve
3500000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
6300000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
34500000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
80700000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.428
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15300000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
46200000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.331
CY2024Q1 us-gaap Other Tax Expense Benefit
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11700000 usd
CY2024Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
9100000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1400000 usd
CY2024Q1 gtes Other Net Discrete Expenses
OtherNetDiscreteExpenses
1200000 usd
CY2023Q2 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
6400000 usd
CY2023Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
1900000 usd
CY2023Q2 gtes Other Net Discrete Expenses
OtherNetDiscreteExpenses
2900000 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits
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1000000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
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168200000 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
12300000 usd
CY2024Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
9100000 usd
CY2024Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
3200000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
40000000.0 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
26400000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
262674227 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
283520302 shares
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4761304 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4358113 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
267435531 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
287878415 shares
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4034246 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4544378 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2024Q1 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
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187300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1294800000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
916700000 usd
CY2024Q1 gtes Indefinite Lived Intangible Assets Excluding Goodwill Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillGross
513400000 usd
CY2024Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
50100000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
43300000 usd
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
439800000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
435700000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
677200000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
647200000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
2038700000 usd
CY2024Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-26200000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
2012500000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2193100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1315500000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
877600000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2211500000 usd
CY2024Q1 gtes Indefinite Lived Intangible Assets Excluding Goodwill Impaired Accumulated Impairment Loss
IndefiniteLivedIntangibleAssetsExcludingGoodwillImpairedAccumulatedImpairmentLoss
44000000.0 usd
CY2024Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
469400000 usd
CY2023Q4 gtes Indefinite Lived Intangible Assets Excluding Goodwill Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillGross
513400000 usd
CY2023Q4 gtes Indefinite Lived Intangible Assets Excluding Goodwill Impaired Accumulated Impairment Loss
IndefiniteLivedIntangibleAssetsExcludingGoodwillImpairedAccumulatedImpairmentLoss
44000000.0 usd
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
469400000 usd
CY2024Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2706500000 usd
CY2024Q1 gtes Intangible Assets Excluding Goodwill Accumulated Amortization And Impairment Loss
IntangibleAssetsExcludingGoodwillAccumulatedAmortizationAndImpairmentLoss
1359500000 usd
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1347000000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2023Q4 gtes Intangible Assets Excluding Goodwill Accumulated Amortization And Impairment Loss
IntangibleAssetsExcludingGoodwillAccumulatedAmortizationAndImpairmentLoss
1338800000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1386100000 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
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32500000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-8800000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
9200000 usd
CY2024Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-22900000 usd
CY2023Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
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CY2024Q1 us-gaap Debt Instrument Carrying Amount
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2367000000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2024Q1 us-gaap Deferred Finance Costs Net
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34400000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
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37400000 usd
CY2024Q1 us-gaap Interest Payable Current And Noncurrent
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8400000 usd
CY2023Q4 us-gaap Interest Payable Current And Noncurrent
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17000000.0 usd
CY2024Q1 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q1 us-gaap Long Term Debt Current
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27900000 usd
CY2023Q4 us-gaap Long Term Debt Current
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36500000 usd
CY2024Q1 us-gaap Long Term Debt Noncurrent
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2313100000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2415000000 usd
CY2024Q1 us-gaap Defined Benefit Plan Service Cost
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1000000.0 usd
CY2023Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1000000.0 usd
CY2024Q1 us-gaap Defined Benefit Plan Interest Cost
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6400000 usd
CY2023Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
6600000 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
6500000 usd
CY2023Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
6400000 usd
CY2024Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
600000 usd
CY2023Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
900000 usd
CY2024Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
300000 usd
CY2023Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
300000 usd
CY2024Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
2600000 usd
CY2023Q2 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
3200000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
8600000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
9500000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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9726970 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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10.90
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
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100000000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-40400000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
70800000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
61600000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
22100 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.87
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
3001 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
13.40
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
15000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
14.99
CY2024Q1 gtes Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Net Of Amounts Settled In Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodNetOfAmountsSettledInShares
423509 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.82
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9307560 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.00
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2500000 usd
CY2023Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
11300000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
3949891 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
14.47
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1578359 shares
CY2024Q1 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
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.27
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
101881 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
15.16
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
1016982 shares
CY2024Q1 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
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
14.86
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4409387 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
14.66
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
264259788 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
282578917 shares
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
288743 shares
CY2023Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1398001 shares
CY2024Q1 gtes Vesting Of Restricted Shares And Stock Units Shares
VestingOfRestrictedSharesAndStockUnitsShares
847345 shares
CY2023Q2 gtes Vesting Of Restricted Shares And Stock Units Shares
VestingOfRestrictedSharesAndStockUnitsShares
915083 shares
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4151100 shares
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
261244776 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
284892001 shares
CY2024Q1 gtes Number Of Classes Of Stock
NumberOfClassesOfStock
1 class
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
28600000 usd
CY2023Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
29700000 usd
CY2024Q1 us-gaap Guaranty Liabilities
GuarantyLiabilities
8600000 usd
CY2023Q4 us-gaap Guaranty Liabilities
GuarantyLiabilities
8400000 usd
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
15900000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
17600000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2400000 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1900000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2400000 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2200000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-200000 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
0 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
15700000 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
17300000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001718512-24-000036-index.html Edgar Link pending
0001718512-24-000036.txt Edgar Link pending
0001718512-24-000036-xbrl.zip Edgar Link pending
a101-cleanx2018plan_tbrsux.htm Edgar Link pending
a102-cleanxtbrsuintl.htm Edgar Link pending
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a104-cleanx2018plan_pbrsux.htm Edgar Link pending
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exhibit991-section13rdiscl.htm Edgar Link pending
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gtes-20240330.htm Edgar Link pending
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