$MAGN
Magnera Corp

2017 Q3 Form 10-Q Financial Statement

#000156459017020494 Filed on October 31, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $413.3M $406.6M
YoY Change 1.64% -3.44%
Cost Of Revenue $172.7M $345.5M
YoY Change -50.0% -4.35%
Gross Profit $37.38M $61.17M
YoY Change -38.9% 2.11%
Gross Profit Margin 9.04% 15.04%
Selling, General & Admin $27.10M $35.70M
YoY Change -24.09% -10.28%
% of Gross Profit 72.51% 58.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.20M $16.30M
YoY Change -37.42% 3.16%
% of Gross Profit 27.29% 26.65%
Operating Expenses $27.10M $35.70M
YoY Change -24.09% -10.28%
Operating Profit $10.28M $25.42M
YoY Change -59.58% 25.59%
Interest Expense -$2.900M $3.895M
YoY Change -174.45% -9.78%
% of Operating Profit -28.22% 15.32%
Other Income/Expense, Net -$800.0K -$4.416M
YoY Change -81.88% -0.7%
Pretax Income $6.700M $21.00M
YoY Change -68.1% 32.99%
Income Tax $1.700M $1.401M
% Of Pretax Income 25.37% 6.67%
Net Earnings $12.11M $19.60M
YoY Change -38.24% 45.15%
Net Earnings / Revenue 2.93% 4.82%
Basic Earnings Per Share $0.45
Diluted Earnings Per Share $0.27 $0.44
COMMON SHARES
Basic Shares Outstanding 43.62M 43.58M
Diluted Shares Outstanding 44.18M 44.13M

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $84.30M $50.80M
YoY Change 65.94% -31.07%
Cash & Equivalents $84.30M $50.75M
Short-Term Investments
Other Short-Term Assets $487.2M $478.8M
YoY Change 1.75% -1.43%
Inventory $256.8M $262.9M
Prepaid Expenses
Receivables $186.3M $179.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $571.5M $529.6M
YoY Change 7.92% -5.34%
LONG-TERM ASSETS
Property, Plant & Equipment $856.0M $771.5M
YoY Change 10.96% 10.63%
Goodwill $77.27M
YoY Change -1.1%
Intangibles $60.72M
YoY Change -8.29%
Long-Term Investments
YoY Change
Other Assets $128.6M $115.2M
YoY Change 11.6% -15.67%
Total Long-Term Assets $1.125B $1.025B
YoY Change 9.82% 4.74%
TOTAL ASSETS
Total Short-Term Assets $571.5M $529.6M
Total Long-Term Assets $1.125B $1.025B
Total Assets $1.697B $1.554B
YoY Change 9.17% 1.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $168.8M $163.7M
YoY Change 3.13% 7.86%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.10M $11.43M
YoY Change -2.9% 50.82%
Total Short-Term Liabilities $336.0M $316.1M
YoY Change 6.29% 8.13%
LONG-TERM LIABILITIES
Long-Term Debt $459.0M $367.5M
YoY Change 24.88% -3.67%
Other Long-Term Liabilities $125.6M $105.8M
YoY Change 18.71% -9.21%
Total Long-Term Liabilities $584.6M $473.4M
YoY Change 23.5% -4.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $336.0M $316.1M
Total Long-Term Liabilities $584.6M $473.4M
Total Liabilities $986.2M $862.6M
YoY Change 14.34% -3.26%
SHAREHOLDERS EQUITY
Retained Earnings $984.5M
YoY Change 5.4%
Common Stock $56.43M
YoY Change 5.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $162.9M
YoY Change -1.44%
Treasury Stock Shares
Shareholders Equity $710.6M $691.7M
YoY Change
Total Liabilities & Shareholders Equity $1.697B $1.554B
YoY Change 9.17% 1.07%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $12.11M $19.60M
YoY Change -38.24% 45.15%
Depreciation, Depletion And Amortization $10.20M $16.30M
YoY Change -37.42% 3.16%
Cash From Operating Activities $24.00M $22.80M
YoY Change 5.26% -49.33%
INVESTING ACTIVITIES
Capital Expenditures -$31.20M -$36.50M
YoY Change -14.52% 22.9%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$100.0K
YoY Change -100.0% 0.0%
Cash From Investing Activities -$31.10M -$36.70M
YoY Change -15.26% 23.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.20M 6.100M
YoY Change 231.15% -185.92%
NET CHANGE
Cash From Operating Activities 24.00M 22.80M
Cash From Investing Activities -31.10M -36.70M
Cash From Financing Activities 20.20M 6.100M
Net Change In Cash 13.10M -7.800M
YoY Change -267.95% -196.3%
FREE CASH FLOW
Cash From Operating Activities $24.00M $22.80M
Capital Expenditures -$31.20M -$36.50M
Free Cash Flow $55.20M $59.30M
YoY Change -6.91% -20.62%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
136000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
96534000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-642000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
19428000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3803000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16134000
glt Proceeds From Government Grants
ProceedsFromGovernmentGrants
5251000
glt Proceeds From Payments For Share Based Compensation And Other
ProceedsFromPaymentsForShareBasedCompensationAndOther
-990000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2974000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
330000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-54552000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
50752000
us-gaap Interest Paid Net
InterestPaidNet
7376000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
11609000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:3.33%;">Accounting Estimates <font style="font-weight:normal;">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>
CY2016Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-2725000
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
557000
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
681000
CY2017Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-171081000
CY2017Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
15026000
CY2017Q3 glt Amount Of Tons Sold
AmountOfTonsSold
267100
CY2016Q3 glt Amount Of Tons Sold
AmountOfTonsSold
261500
CY2017Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2304000
CY2016Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-186283000
CY2016Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
439000
us-gaap Accrual For Environmental Loss Contingencies Payments1
AccrualForEnvironmentalLossContingenciesPayments1
9581000
CY2016Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2656000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
45261000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-5594000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
50855000
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-190486000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-3081000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-7215000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4134000
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
300000
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
200000
CY2017Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
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CY2016Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
500000
CY2017Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
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CY2016Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
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CY2017Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
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CY2016Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
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CY2017Q3 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
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CY2016Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
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CY2017Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
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CY2016Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
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us-gaap Interest Costs Incurred
InterestCostsIncurred
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us-gaap Interest Costs Incurred
InterestCostsIncurred
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CY2017Q3 us-gaap Interest Costs Capitalized Adjustment
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us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
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us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
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CY2017Q3 us-gaap Long Term Debt
LongTermDebt
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CY2016Q4 us-gaap Long Term Debt
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CY2017Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
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CY2016Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
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glt Debt Instrument Covenant Compliance Leverage Ratio Threshold
DebtInstrumentCovenantComplianceLeverageRatioThreshold
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glt Debt Instrument Covenant Compliance Leverage Ratio Actual
DebtInstrumentCovenantComplianceLeverageRatioActual
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CY2017Q3 us-gaap Long Term Debt Fair Value
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CY2016Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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CY2017Q3 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
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CY2016Q3 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
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glt Number Of Operable Units
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AccrualForEnvironmentalLossContingencies
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us-gaap Accrual For Environmental Loss Contingencies Payments1
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CY2017Q3 us-gaap Depreciation Depletion And Amortization
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21400000
CY2016Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2017Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
31100000
CY2016Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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glt Amount Of Tons Sold
AmountOfTonsSold
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glt Amount Of Tons Sold
AmountOfTonsSold
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2017Q3 us-gaap Other Assets Current
OtherAssetsCurrent
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CY2017Q3 glt Other Assets Other Noncurrent
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CY2017Q3 us-gaap Deferred Tax Liabilities Noncurrent
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us-gaap Proceeds From Repayments Of Debt
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us-gaap Proceeds From Repayments Of Debt
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
136000

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