$MAGN
Magnera Corp

2015 Q1 Form 10-Q Financial Statement

#000119312515172212 Filed on May 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $419.5M $461.0M
YoY Change -8.99% 13.46%
Cost Of Revenue $367.4M $405.9M
YoY Change -9.49% 16.34%
Gross Profit $52.11M $55.04M
YoY Change -5.33% -4.07%
Gross Profit Margin 12.42% 11.94%
Selling, General & Admin $31.27M $33.55M
YoY Change -6.79% 0.19%
% of Gross Profit 60.01% 60.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.98M $18.62M
YoY Change -14.18% 21.21%
% of Gross Profit 30.66% 33.82%
Operating Expenses $31.27M $33.55M
YoY Change -6.79% 0.19%
Operating Profit $23.49M $22.30M
YoY Change 5.35% -6.94%
Interest Expense $4.508M $4.812M
YoY Change -6.32% 25.28%
% of Operating Profit 19.19% 21.58%
Other Income/Expense, Net -$4.630M -$4.540M
YoY Change 1.98% 30.01%
Pretax Income $18.86M $17.76M
YoY Change 6.21% -13.24%
Income Tax $4.935M $3.110M
% Of Pretax Income 26.17% 17.51%
Net Earnings $13.93M $14.65M
YoY Change -4.94% -6.28%
Net Earnings / Revenue 3.32% 3.18%
Basic Earnings Per Share $0.32 $0.34
Diluted Earnings Per Share $0.32 $0.33
COMMON SHARES
Basic Shares Outstanding 43.25M shares 43.37M shares
Diluted Shares Outstanding 43.95M shares 44.36M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.60M $74.80M
YoY Change -4.28% -2.09%
Cash & Equivalents $71.57M $74.79M
Short-Term Investments
Other Short-Term Assets $478.0M $487.8M
YoY Change -2.0% 958.08%
Inventory $244.5M $247.8M
Prepaid Expenses
Receivables $167.7M $179.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $549.6M $562.6M
YoY Change -2.31% 12.33%
LONG-TERM ASSETS
Property, Plant & Equipment $662.8M $717.7M
YoY Change -7.65% 16.19%
Goodwill $74.88M $95.63M
YoY Change -21.7%
Intangibles $67.30M $94.73M
YoY Change -28.96%
Long-Term Investments
YoY Change
Other Assets $132.7M $178.3M
YoY Change -25.6% 67.94%
Total Long-Term Assets $937.7M $1.086B
YoY Change -13.69% 50.1%
TOTAL ASSETS
Total Short-Term Assets $549.6M $562.6M
Total Long-Term Assets $937.7M $1.086B
Total Assets $1.487B $1.649B
YoY Change -9.81% 34.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.8M $150.9M
YoY Change -9.36% 19.94%
Accrued Expenses $103.7M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.885M
YoY Change
Total Short-Term Liabilities $258.4M $267.2M
YoY Change -3.29% 16.64%
LONG-TERM LIABILITIES
Long-Term Debt $379.8M $424.8M
YoY Change -10.61% 69.93%
Other Long-Term Liabilities $125.7M $121.6M
YoY Change 3.4% -14.12%
Total Long-Term Liabilities $505.5M $546.4M
YoY Change -7.49% 39.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $258.4M $267.2M
Total Long-Term Liabilities $505.5M $546.4M
Total Liabilities $864.4M $952.1M
YoY Change -9.22% 40.02%
SHAREHOLDERS EQUITY
Retained Earnings $928.2M $879.2M
YoY Change 5.57%
Common Stock $52.53M $54.37M
YoY Change -3.4%
Preferred Stock
YoY Change
Treasury Stock (at cost) $167.7M $164.3M
YoY Change 2.03%
Treasury Stock Shares
Shareholders Equity $622.9M $696.9M
YoY Change
Total Liabilities & Shareholders Equity $1.487B $1.649B
YoY Change -9.81% 34.66%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $13.93M $14.65M
YoY Change -4.94% -6.28%
Depreciation, Depletion And Amortization $15.98M $18.62M
YoY Change -14.18% 21.21%
Cash From Operating Activities $2.200M -$10.20M
YoY Change -121.57% -164.56%
INVESTING ACTIVITIES
Capital Expenditures $21.75M $14.44M
YoY Change 50.67% -54.02%
Acquisitions
YoY Change
Other Investing Activities $1.600M $800.0K
YoY Change 100.0% 357.14%
Cash From Investing Activities -$20.60M -$13.60M
YoY Change 51.47% -56.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.251M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.200M -24.30M
YoY Change -70.37% 428.26%
NET CHANGE
Cash From Operating Activities 2.200M -10.20M
Cash From Investing Activities -20.60M -13.60M
Cash From Financing Activities -7.200M -24.30M
Net Change In Cash -25.60M -48.10M
YoY Change -46.78% 136.95%
FREE CASH FLOW
Cash From Operating Activities $2.200M -$10.20M
Capital Expenditures $21.75M $14.44M
Free Cash Flow -$19.55M -$24.64M
YoY Change -20.65% 58.01%

Facts In Submission

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GLATFELTER P H CO
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CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 27px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Accounting Estimates</b> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Management believes the estimates and assumptions used in the preparation of these financial statements are reasonable, based upon currently available facts and known circumstances, but recognizes that actual results may differ from those estimates and assumptions.</font></p> </div>
CY2015Q1 dei Document Period End Date
DocumentPeriodEndDate
2015-03-31
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
13925000
CY2015Q1 dei Amendment Flag
AmendmentFlag
false
CY2015Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43949000 shares
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000041719
CY2015Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.11
CY2015Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
690000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43252000 shares
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-41337000
CY2015Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1826000
CY2015Q1 us-gaap Gross Profit
GrossProfit
52108000
CY2015Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5321000
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
417469000
CY2015Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
21700
CY2015Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-37943000
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-35285000
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
419537000
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2269000
CY2015Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4732000
CY2015Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
2654000
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4774000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
23490000
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4630000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
18860000
CY2015Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1600000
CY2015Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1008000
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-187000
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
4703000
CY2015Q1 us-gaap Interest Paid Net
InterestPaidNet
818000
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21749000
CY2015Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
367429000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-7190000
CY2015Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2726000
CY2015Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2609000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-20623000
CY2015Q1 us-gaap Income Tax Examination Interest Expense
IncomeTaxExaminationInterestExpense
100000
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-1063000
CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2658000
CY2015Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-8067000
CY2015Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1408000
CY2015Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
65000
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
13968000
CY2015Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
2766000
CY2015Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-21360000
CY2015Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
419000
CY2015Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1086000
CY2015Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15975000
CY2015Q1 us-gaap Interest Expense
InterestExpense
4508000
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31272000
CY2015Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
315000
CY2015Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
29000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-28267000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4935000
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
873000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1747000
CY2015Q1 glt Natural Resource Damage Loss Contingency Range Of Possible Loss Maximum Revised
NaturalResourceDamageLossContingencyRangeOfPossibleLossMaximumRevised
423000000
CY2015Q1 glt Proceeds From Payments For Share Based Compensation And Other
ProceedsFromPaymentsForShareBasedCompensationAndOther
-1408000
CY2015Q1 glt Other Comprehensive Income Loss Amortization Pension And Other Postretirement Benefit Plans Net Prior Service Cost Unrecognized In Net Periodic Pension Cost Net Of Tax
OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostUnrecognizedInNetPeriodicPensionCostNetOfTax
3286000
CY2015Q1 glt Number Of Operable Units
NumberOfOperableUnits
5 Operable_Unit
CY2015Q1 glt Natural Resource Damage Loss Contingency Range Of Possible Loss Maximum
NaturalResourceDamageLossContingencyRangeOfPossibleLossMaximum
333000000
CY2015Q1 glt Maximum Estimated Percentage Of Discharge
MaximumEstimatedPercentageOfDischarge
0.27 pure
CY2015Q1 glt Natural Resource Damage Loss Contingency Range Of Possible Loss Minimum
NaturalResourceDamageLossContingencyRangeOfPossibleLossMinimum
176000000
CY2015Q1 glt Noncash Pension Expense Net Of Unfunded Benefits
NoncashPensionExpenseNetOfUnfundedBenefits
2463000
CY2015Q1 glt Other Comprehensive Income Loss Amortization Pension And Other Postretirement Benefit Plans Net Prior Service Cost Unrecognized In Net Periodic Pension Cost Tax Benefits
OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostUnrecognizedInNetPeriodicPensionCostTaxBenefits
-2011000
CY2015Q1 glt Natural Resource Damage Loss Contingency Range Of Possible Loss Minimum Revised
NaturalResourceDamageLossContingencyRangeOfPossibleLossMinimumRevised
287000000
CY2015Q1 glt Amount Of Tons Sold
AmountOfTonsSold
260700 T
CY2015Q1 glt Energy And Related Sales Net
EnergyAndRelatedSalesNet
2068000
CY2015Q1 glt Cost Reimbursement Due To Us From Another Potentially Responsible Parties
CostReimbursementDueToUsFromAnotherPotentiallyResponsibleParties
4280000
CY2015Q1 glt Asset Retirement Obligation Gain
AssetRetirementObligationGain
107000
CY2015Q1 glt Increase Decrease In Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities
-3492000
CY2015Q1 glt Maximum Estimated Cost In Excess Of Amounts Reserved
MaximumEstimatedCostInExcessOfAmountsReserved
185000000

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