$LCII
LCI INDUSTRIES

2023 Q4 Form 10-Q Financial Statement

#000076374423000091 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $837.5M $959.3M
YoY Change -6.35% -15.26%
Cost Of Revenue $676.5M $748.4M
YoY Change -9.49% -14.86%
Gross Profit $161.1M $210.9M
YoY Change 9.63% -16.64%
Gross Profit Margin 19.23% 21.99%
Selling, General & Admin $158.4M $165.4M
YoY Change -6.78% -0.07%
% of Gross Profit 98.37% 78.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.95M $33.27M
YoY Change -0.89% 3.17%
% of Gross Profit 20.46% 15.77%
Operating Expenses $158.4M $165.4M
YoY Change -6.78% -0.07%
Operating Profit $2.621M $45.59M
YoY Change -111.38% -47.94%
Interest Expense -$9.456M -$10.33M
YoY Change 15.04% 49.42%
% of Operating Profit -360.78% -22.65%
Other Income/Expense, Net
YoY Change
Pretax Income -$6.835M $35.27M
YoY Change -78.13% -56.28%
Income Tax -$4.458M $9.378M
% Of Pretax Income 26.59%
Net Earnings -$2.377M $25.89M
YoY Change -86.12% -57.83%
Net Earnings / Revenue -0.28% 2.7%
Basic Earnings Per Share $1.02
Diluted Earnings Per Share -$0.09 $1.02
COMMON SHARES
Basic Shares Outstanding 25.32M shares 25.32M shares
Diluted Shares Outstanding 25.50M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.16M $31.24M
YoY Change 39.28% 33.5%
Cash & Equivalents $66.20M $31.24M
Short-Term Investments
Other Short-Term Assets $67.60M $68.67M
YoY Change -31.93% 3.67%
Inventory $768.4M $791.9M
Prepaid Expenses
Receivables $214.7M $338.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.117B $1.231B
YoY Change -19.69% -18.26%
LONG-TERM ASSETS
Property, Plant & Equipment $465.8M $472.5M
YoY Change -3.4% 0.41%
Goodwill $589.6M $579.9M
YoY Change 3.97% 5.13%
Intangibles $448.8M $462.4M
YoY Change -10.84% -5.54%
Long-Term Investments
YoY Change
Other Assets $92.97M $54.59M
YoY Change 64.37% -2.29%
Total Long-Term Assets $1.842B $1.803B
YoY Change -0.74% 2.25%
TOTAL ASSETS
Total Short-Term Assets $1.117B $1.231B
Total Long-Term Assets $1.842B $1.803B
Total Assets $2.959B $3.034B
YoY Change -8.86% -7.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $183.7M $198.9M
YoY Change 27.99% -1.05%
Accrued Expenses $174.4M $179.9M
YoY Change -20.43% -26.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $589.0K $566.0K
YoY Change -97.45% -97.44%
Total Short-Term Liabilities $395.0M $414.0M
YoY Change -6.24% -17.22%
LONG-TERM LIABILITIES
Long-Term Debt $846.8M $908.2M
YoY Change -22.73% -12.66%
Other Long-Term Liabilities $107.4M $102.8M
YoY Change 12.31% -2.95%
Total Long-Term Liabilities $954.3M $1.011B
YoY Change -19.91% -11.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $395.0M $414.0M
Total Long-Term Liabilities $954.3M $1.011B
Total Liabilities $1.604B $1.662B
YoY Change -14.02% -9.96%
SHAREHOLDERS EQUITY
Retained Earnings $1.177B $1.207B
YoY Change -3.62% -4.65%
Common Stock $245.9M $241.3M
YoY Change 4.55% 4.08%
Preferred Stock
YoY Change
Treasury Stock (at cost) $82.22M $82.22M
YoY Change 0.0% 41.36%
Treasury Stock Shares
Shareholders Equity $1.355B $1.372B
YoY Change
Total Liabilities & Shareholders Equity $2.959B $3.034B
YoY Change -8.86% -7.19%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$2.377M $25.89M
YoY Change -86.12% -57.83%
Depreciation, Depletion And Amortization $32.95M $33.27M
YoY Change -0.89% 3.17%
Cash From Operating Activities $138.0M $115.7M
YoY Change 17.91% -15.88%
INVESTING ACTIVITIES
Capital Expenditures $12.15M $15.98M
YoY Change -54.82% -148.55%
Acquisitions
YoY Change
Other Investing Activities $28.00K -$60.00K
YoY Change -100.05% -98.5%
Cash From Investing Activities -$12.12M -$16.04M
YoY Change -85.65% -56.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -92.74M -90.13M
YoY Change 832.87% -30.96%
NET CHANGE
Cash From Operating Activities 138.0M 115.7M
Cash From Investing Activities -12.12M -16.04M
Cash From Financing Activities -92.74M -90.13M
Net Change In Cash 33.11M 9.532M
YoY Change 46.52% -131.88%
FREE CASH FLOW
Cash From Operating Activities $138.0M $115.7M
Capital Expenditures $12.15M $15.98M
Free Cash Flow $125.8M $99.72M
YoY Change 39.62% -41.5%

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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, net sales and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to product returns, sales and purchase rebates, accounts receivable, inventories, goodwill and other intangible assets, net assets of acquired businesses, income taxes, warranty and product recall obligations, self-insurance obligations, operating lease right-of-use assets and obligations, asset retirement obligations, long-lived assets, pension and post-retirement benefits, stock-based compensation, segment allocations, contingent consideration, environmental liabilities, contingencies, and litigation. The Company bases its estimates on historical experience, other available information, and various other assumptions believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities not readily apparent from other resources. Actual results and events could differ significantly from management estimates.</span></div>
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
463070000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
472518000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
482185000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
23086000 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
908245000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1095888000 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
58810000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
77804000 usd
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
44209000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
35148000 usd
CY2023Q3 lcii Sales Rebates Accrual Current
SalesRebatesAccrualCurrent
20893000 usd
CY2022Q4 lcii Sales Rebates Accrual Current
SalesRebatesAccrualCurrent
12138000 usd
CY2023Q3 lcii Business Combination Deferred Acquisition Payments And Contingent Consideration Liability Current
BusinessCombinationDeferredAcquisitionPaymentsAndContingentConsiderationLiabilityCurrent
2581000 usd
CY2022Q4 lcii Business Combination Deferred Acquisition Payments And Contingent Consideration Liability Current
BusinessCombinationDeferredAcquisitionPaymentsAndContingentConsiderationLiabilityCurrent
34013000 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
53401000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
60135000 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
179894000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
219238000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
54528000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
52114000 usd
us-gaap Product Warranty Expense
ProductWarrantyExpense
60691000 usd
us-gaap Product Warranty Expense
ProductWarrantyExpense
36362000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
49110000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
29373000 usd
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
66109000 usd
CY2022Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
59103000 usd
CY2023Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
21900000 usd
CY2022Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
19520000 usd
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
44209000 usd
CY2022Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
39583000 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7189000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
14796000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
14081000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
45710000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
40229000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1140000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2019000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3927000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
5793000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1154000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1175000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
3354000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
2824000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
17090000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
17275000 usd
us-gaap Lease Cost
LeaseCost
52991000 usd
us-gaap Lease Cost
LeaseCost
48846000 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28665000 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28519000 shares
CY2023Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
3341000 shares
CY2022Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
3341000 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
25324000 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
25178000 shares
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.05
CY2022Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.05
CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
4.05
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.05
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.05
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.05
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.15
CY2022Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
200000000 shares
CY2022Q2 us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P3Y
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
253490 shares
CY2022 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
94.89
CY2022 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
24100000 usd
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q3 us-gaap Revenues
Revenues
959315000 usd
CY2022Q3 us-gaap Revenues
Revenues
1132079000 usd
us-gaap Revenues
Revenues
4312797000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
45590000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
87575000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
120807000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
576065000 usd
CY2023Q3 us-gaap Revenues
Revenues
959315000 usd
CY2022Q3 us-gaap Revenues
Revenues
1132079000 usd
us-gaap Revenues
Revenues
2947264000 usd
us-gaap Revenues
Revenues
4312797000 usd
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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lcii-20230930_def.xml Edgar Link unprocessable
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lcii-20230930_cal.xml Edgar Link unprocessable
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