2014 Q4 Form 10-K Financial Statement

#000156459015000511 Filed on February 05, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4 2013 Q3
Revenue $471.8M $426.8M $412.3M
YoY Change 10.54% 10.2% 5.29%
Cost Of Revenue $343.3M $313.7M $300.2M
YoY Change 9.44% 7.54% 2.67%
Gross Profit $128.5M $113.1M $112.1M
YoY Change 13.62% 18.31% 13.0%
Gross Profit Margin 27.24% 26.5% 27.19%
Selling, General & Admin $38.10M $35.70M $32.90M
YoY Change 6.72% 14.06% 8.58%
% of Gross Profit 29.65% 31.56% 29.35%
Research & Development $13.30M $10.40M $10.20M
YoY Change 27.88% 4.0% 14.61%
% of Gross Profit 10.35% 9.2% 9.1%
Depreciation & Amortization $18.60M $16.50M $14.70M
YoY Change 12.73% 16.2% 0.0%
% of Gross Profit 14.47% 14.59% 13.11%
Operating Expenses $51.40M $46.10M $43.10M
YoY Change 11.5% 46.82% 9.95%
Operating Profit $77.10M $67.00M $69.00M
YoY Change 15.07% 23.39% 15.0%
Interest Expense -$2.100M -$1.600M $1.900M
YoY Change 31.25% -11.11% -13.64%
% of Operating Profit -2.72% -2.39% 2.75%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change
Pretax Income $75.00M $65.40M $67.10M
YoY Change 14.68% 24.57% 16.09%
Income Tax $22.40M $18.80M $18.70M
% Of Pretax Income 29.87% 28.75% 27.87%
Net Earnings $52.90M $47.10M $48.70M
YoY Change 12.31% 27.64% 22.36%
Net Earnings / Revenue 11.21% 11.04% 11.81%
Basic Earnings Per Share $0.55 $0.47 $0.49
Diluted Earnings Per Share $0.54 $0.46 $0.48
COMMON SHARES
Basic Shares Outstanding 95.40M 99.56M shares 99.70M shares
Diluted Shares Outstanding 101.7M shares

Balance Sheet

Concept 2014 Q4 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.90M $65.50M $59.70M
YoY Change 8.24% 100.92% 38.19%
Cash & Equivalents $70.90M $65.50M $59.70M
Short-Term Investments
Other Short-Term Assets $87.20M $93.20M $96.90M
YoY Change -6.44% 14.64% 53.57%
Inventory $290.1M $265.3M $260.3M
Prepaid Expenses
Receivables $233.5M $232.4M $236.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $681.7M $656.4M $653.1M
YoY Change 3.85% 14.02% 11.79%
LONG-TERM ASSETS
Property, Plant & Equipment $1.238B $1.067B $995.3M
YoY Change 16.0% 16.73% 15.98%
Goodwill $53.60M $54.60M
YoY Change -1.83% 0.74%
Intangibles
YoY Change
Long-Term Investments $34.20M $23.30M $22.30M
YoY Change 46.78% 3.1% 1.83%
Other Assets $22.50M $28.00M $15.80M
YoY Change -19.64% 62.79% -6.51%
Total Long-Term Assets $1.355B $1.180B $1.108B
YoY Change 14.83% 14.82% 12.78%
TOTAL ASSETS
Total Short-Term Assets $681.7M $656.4M $653.1M
Total Long-Term Assets $1.355B $1.180B $1.108B
Total Assets $2.036B $1.836B $1.761B
YoY Change 10.91% 14.53% 12.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $175.0M $135.9M $108.3M
YoY Change 28.77% 17.46% 3.84%
Accrued Expenses $134.3M $129.8M $130.2M
YoY Change 3.47% 26.02% 20.44%
Deferred Revenue
YoY Change
Short-Term Debt $1.300M $0.00 $0.00
YoY Change
Long-Term Debt Due $1.300M $3.000M $4.800M
YoY Change -56.67% -81.93% -71.93%
Total Short-Term Liabilities $310.6M $268.7M $243.3M
YoY Change 15.59% 14.19% 6.01%
LONG-TERM LIABILITIES
Long-Term Debt $415.0M $292.0M $262.0M
YoY Change 42.12% 21.67% -6.19%
Other Long-Term Liabilities $122.2M $115.0M $136.3M
YoY Change 6.26% 119.47% 24.82%
Total Long-Term Liabilities $537.2M $407.0M $398.3M
YoY Change 31.99% 676.72% 264.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $310.6M $268.7M $243.3M
Total Long-Term Liabilities $537.2M $407.0M $398.3M
Total Liabilities $886.5M $675.7M $641.6M
YoY Change 31.2% 10.95% 3.82%
SHAREHOLDERS EQUITY
Retained Earnings $845.5M $636.1M $589.0M
YoY Change 32.92% 41.92% 43.2%
Common Stock $679.5M $643.3M $645.9M
YoY Change 5.63% 4.09% 5.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $305.4M $129.7M $97.60M
YoY Change 135.47% 222.64% 148.98%
Treasury Stock Shares $9.300M $5.100M 4.300M shares
Shareholders Equity $1.150B $1.160B $1.120B
YoY Change
Total Liabilities & Shareholders Equity $2.036B $1.836B $1.761B
YoY Change 10.91% 14.53% 12.41%

Cashflow Statement

Concept 2014 Q4 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $52.90M $47.10M $48.70M
YoY Change 12.31% 27.64% 22.36%
Depreciation, Depletion And Amortization $18.60M $16.50M $14.70M
YoY Change 12.73% 16.2% 0.0%
Cash From Operating Activities $126.2M $77.00M $87.70M
YoY Change 63.9% -5.98% 14.34%
INVESTING ACTIVITIES
Capital Expenditures -$65.70M -$61.80M -$41.10M
YoY Change 6.31% 12.77% -36.28%
Acquisitions
YoY Change
Other Investing Activities -$10.30M $0.00 $0.00
YoY Change
Cash From Investing Activities -$76.00M -$61.80M -$41.10M
YoY Change 22.98% 12.77% -36.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.60M -10.50M -45.70M
YoY Change 48.57% -72.87% 1284.85%
NET CHANGE
Cash From Operating Activities 126.2M 77.00M 87.70M
Cash From Investing Activities -76.00M -61.80M -41.10M
Cash From Financing Activities -15.60M -10.50M -45.70M
Net Change In Cash 34.60M 4.700M 900.0K
YoY Change 636.17% -140.52% -89.89%
FREE CASH FLOW
Cash From Operating Activities $126.2M $77.00M $87.70M
Capital Expenditures -$65.70M -$61.80M -$41.10M
Free Cash Flow $191.9M $138.8M $128.8M
YoY Change 38.26% 1.54% -8.78%

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CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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26700000
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-9300000
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
8200000
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
27600000
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
24200000
CY2014Q4 hxl Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Tax Effect
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesTaxEffect
3200000
CY2013Q4 hxl Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Tax Effect
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesTaxEffect
-1800000
CY2014Q4 hxl Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Tax Effect
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTaxEffect
12100000
CY2013Q4 hxl Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Tax Effect
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansTaxEffect
11100000
CY2014 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2012Q4 us-gaap Assets
Assets
1603100000
CY2012Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
22600000
CY2014Q4 us-gaap Noncurrent Assets
NoncurrentAssets
1332300000
CY2013Q4 us-gaap Noncurrent Assets
NoncurrentAssets
1151700000
CY2012Q4 us-gaap Noncurrent Assets
NoncurrentAssets
972200000
CY2014 us-gaap Environmental Remediation Expense
EnvironmentalRemediationExpense
6000000
CY2012 us-gaap Environmental Remediation Expense
EnvironmentalRemediationExpense
5000000
CY2012 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
9600000
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
4900000
CY2013Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1000000
CY2014 hxl Number Of Counterparties That Are Highly Rated Financial Institutions Which Experienced Significant Downgrades
NumberOfCounterpartiesThatAreHighlyRatedFinancialInstitutionsWhichExperiencedSignificantDowngrades
0
CY2014Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
461700000
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
470100000
CY2014Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
451900000
CY2014Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
471800000
CY2014Q1 us-gaap Gross Profit
GrossProfit
129200000
CY2014Q2 us-gaap Gross Profit
GrossProfit
129100000
CY2014Q3 us-gaap Gross Profit
GrossProfit
122000000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
79000000
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
77100000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
50100000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
50600000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
55800000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
52900000
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2014Q4 us-gaap Gross Profit
GrossProfit
128500000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
74600000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
75100000
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.54
CY2013Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
416500000
CY2013Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
422600000
CY2013Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
412300000
CY2013Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
426800000
CY2013Q1 us-gaap Gross Profit
GrossProfit
112000000
CY2013Q2 us-gaap Gross Profit
GrossProfit
116800000
CY2013Q3 us-gaap Gross Profit
GrossProfit
112100000
CY2013Q4 us-gaap Gross Profit
GrossProfit
113100000
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
63000000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
71900000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
69000000
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
67000000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
43600000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
48500000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
48700000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
47100000
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46

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