$MATV
Mativ Holdings, Inc.

2012 Q1 Form 10-Q Financial Statement

#000100062312000094 Filed on May 02, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q1
Revenue $195.0M $177.1M
YoY Change 10.11% -8.14%
Cost Of Revenue $130.7M $133.5M
YoY Change -2.1%
Gross Profit $64.30M $46.90M
YoY Change 37.1% -12.34%
Gross Profit Margin 32.97% 26.48%
Selling, General & Admin $18.20M $17.80M
YoY Change 2.25%
% of Gross Profit 28.3% 37.95%
Research & Development $2.200M $2.000M
YoY Change 10.0%
% of Gross Profit 3.42% 4.26%
Depreciation & Amortization $9.800M $10.70M
YoY Change -8.41%
% of Gross Profit 15.24% 22.81%
Operating Expenses $20.40M $19.80M
YoY Change 3.03%
Operating Profit $25.20M $26.40M
YoY Change -4.55% -14.84%
Interest Expense $900.0K $0.00
YoY Change
% of Operating Profit 3.57% 0.0%
Other Income/Expense, Net $300.0K $200.0K
YoY Change 50.0%
Pretax Income $24.60M $26.60M
YoY Change -7.52%
Income Tax $8.000M $10.90M
% Of Pretax Income 32.52% 40.98%
Net Earnings $14.60M $16.20M
YoY Change -9.88% -12.9%
Net Earnings / Revenue 7.49% 9.15%
Basic Earnings Per Share $0.45 $0.46
Diluted Earnings Per Share $0.45 $0.45
COMMON SHARES
Basic Shares Outstanding 31.75M shares 17.43M shares
Diluted Shares Outstanding 32.06M shares 17.54M shares

Balance Sheet

Concept 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $85.30M $77.20M
Short-Term Investments
Other Short-Term Assets $4.500M
YoY Change
Inventory $122.1M
Prepaid Expenses
Receivables $110.5M
Other Receivables
Total Short-Term Assets $340.3M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $420.4M
YoY Change
Goodwill $5.800M
YoY Change
Intangibles
YoY Change
Long-Term Investments $43.70M
YoY Change
Other Assets $33.50M
YoY Change
Total Long-Term Assets $520.3M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $340.3M
Total Long-Term Assets $520.3M
Total Assets $860.6M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $54.80M
YoY Change
Accrued Expenses $78.40M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $3.300M
YoY Change
Total Short-Term Liabilities $141.7M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $144.2M
YoY Change
Other Long-Term Liabilities $25.00M
YoY Change
Total Long-Term Liabilities $169.2M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $141.7M
Total Long-Term Liabilities $169.2M
Total Liabilities $378.5M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $431.1M
YoY Change
Common Stock $1.900M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $150.3M
YoY Change
Treasury Stock Shares 2.857M shares
Shareholders Equity $482.1M $517.6M
YoY Change
Total Liabilities & Shareholders Equity $860.6M
YoY Change

Cashflow Statement

Concept 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income $14.60M $16.20M
YoY Change -9.88% -12.9%
Depreciation, Depletion And Amortization $9.800M $10.70M
YoY Change -8.41%
Cash From Operating Activities $48.40M -$200.0K
YoY Change -24300.0%
INVESTING ACTIVITIES
Capital Expenditures $7.800M $27.70M
YoY Change -71.84%
Acquisitions
YoY Change
Other Investing Activities $4.100M -$2.000M
YoY Change -305.0%
Cash From Investing Activities -$16.50M -$26.50M
YoY Change -37.74%
FINANCING ACTIVITIES
Cash Dividend Paid $2.400M $2.700M
YoY Change -11.11%
Common Stock Issuance & Retirement, Net $21.60M $45.80M
YoY Change -52.84%
Debt Paid & Issued, Net $5.100M $200.0K
YoY Change 2450.0%
Cash From Financing Activities -$23.30M $16.60M
YoY Change -240.36%
NET CHANGE
Cash From Operating Activities $48.40M -$200.0K
Cash From Investing Activities -$16.50M -$26.50M
Cash From Financing Activities -$23.30M $16.60M
Net Change In Cash $8.600M -$10.10M
YoY Change -185.15%
FREE CASH FLOW
Cash From Operating Activities $48.40M -$200.0K
Capital Expenditures $7.800M $27.70M
Free Cash Flow $40.60M -$27.90M
YoY Change -245.52%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited consolidated financial statements and the notes thereto have been prepared in accordance with the instructions of Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission, or the SEC, and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America, or U.S. GAAP. However, such information reflects all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods including the results of a business reclassified as a discontinued operation which is more fully described in Note 3. Discontinued Operations.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The results of operations for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">the three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2012</font><font style="font-family:inherit;font-size:10pt;">, are not necessarily indicative of the results to be expected for the full year. The unaudited consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and the notes included in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2011</font><font style="font-family:inherit;font-size:10pt;">, as filed with the SEC on February 24, 2012.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Prin</font></div></div>
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CY2012Q1 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Business</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Schweitzer-Mauduit International, Inc., or SWM or the Company, is a multinational diversified producer of premium specialty papers headquartered in the United States of America. The Company manufactures and sells paper and reconstituted tobacco products to the tobacco industry as well as specialized paper products for use in other applications. The Company&#8217;s tobacco-related products include cigarette, plug wrap and base tipping papers, or Cigarette Papers, used to wrap various parts of a cigarette, reconstituted tobacco leaf, or RTL, which is used as a blend with virgin tobacco in cigarettes and reconstituted tobacco wrappers and binders for machine-made cigars. These products are sold directly to the major tobacco companies or their designated converters in the Americas, Europe, Asia and elsewhere. Non-tobacco industry products are a diverse mix of products, certain of which represent commodity paper grades produced to maximize machine operations.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is a manufacturer of high porosity papers, which are used in manufacturing ventilated cigarettes, banded and print banded papers for the production of lower ignition propensity, or LIP, cigarettes and the leading independent producer of RTL used in producing blended cigarettes. The Company conducts business in over </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">90</font><font style="font-family:inherit;font-size:10pt;"> countries and currently operates </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">11</font><font style="font-family:inherit;font-size:10pt;"> production locations worldwide, with mills in the United States, France, the Philippines, Indonesia, Brazil and Poland. The Company also has a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">50%</font><font style="font-family:inherit;font-size:10pt;"> equity interest in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">two</font><font style="font-family:inherit;font-size:10pt;"> joint ventures in China.</font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Business</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Schweitzer-Mauduit International, Inc., or SWM or the Company, is a multinational diversified producer of premium specialty papers headquartered in the United States of America. The Company manufactures and sells paper and reconstituted tobacco products to the tobacco industry as well as specialized paper products for use in other applications. The Company&#8217;s tobacco-related products include cigarette, plug wrap and base tipping papers, or Cigarette Papers, used to wrap various parts of a cigarette, reconstituted tobacco leaf, or RTL, which is used as a blend with virgin tobacco in cigarettes and reconstituted tobacco wrappers and binders for machine-made cigars. These products are sold directly to the major tobacco companies or their designated converters in the Americas, Europe, Asia and elsewhere. Non-tobacco industry products are a diverse mix of products, certain of which represent commodity paper grades produced to maximize machine operations.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is a manufacturer of high porosity papers, which are used in manufacturing ventilated cigarettes, banded and print banded papers for the production of lower ignition propensity, or LIP, cigarettes and the leading independent producer of RTL used in producing blended cigarettes. The Company conducts business in over </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">90</font><font style="font-family:inherit;font-size:10pt;"> countries and currently operates </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">11</font><font style="font-family:inherit;font-size:10pt;"> production locations worldwide, with mills in the United States, France, the Philippines, Indonesia, Brazil and Poland. The Company also has a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">50%</font><font style="font-family:inherit;font-size:10pt;"> equity interest in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">two</font><font style="font-family:inherit;font-size:10pt;"> joint ventures in China.</font></div></div>
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23300000 USD
CY2011Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16600000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16500000 USD
CY2011Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26500000 USD
CY2011Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-200000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
48400000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
48400000 USD
CY2011Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2100000 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
14600000 USD
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
16200000 USD
CY2011Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15900000 USD
CY2012Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14400000 USD
CY2012Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
300000 USD
CY2011Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
200000 USD
CY2012Q1 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
90
CY2011Q1 us-gaap Operating Expenses
OperatingExpenses
19800000 USD
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
21300000 USD
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
26400000 USD
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
24400000 USD
CY2012Q1 us-gaap Other Assets Current
OtherAssetsCurrent
4500000 USD
CY2011Q4 us-gaap Other Assets Current
OtherAssetsCurrent
3300000 USD
CY2012Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
33500000 USD
CY2011Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
31800000 USD
CY2012Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPeriodIncreaseDecrease
-600000 USD
CY2011Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPeriodIncreaseDecrease
1400000 USD
CY2012Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
-400000 USD
CY2011Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
900000 USD
CY2011Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
2200000 USD
CY2012Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
1100000 USD
CY2012Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
-200000 USD
CY2011Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
500000 USD
CY2011Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPeriodIncreaseDecrease
2200000 USD
CY2012Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPeriodIncreaseDecrease
3200000 USD
CY2012Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
2100000 USD
CY2011Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
1500000 USD
CY2011Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Effect Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxEffectPeriodIncreaseDecrease
700000 USD
CY2012Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Effect Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxEffectPeriodIncreaseDecrease
1100000 USD
CY2012Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease
12100000 USD
CY2011Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease
13400000 USD
CY2012Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
12100000 USD
CY2011Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
13400000 USD
CY2011Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
13400000 USD
CY2012Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
12100000 USD
CY2011Q1 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax
0 USD
CY2012Q1 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax
0 USD
CY2011Q1 us-gaap Other Comprehensive Income Loss Before Tax Period Increase Decrease
OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecrease
17000000 USD
CY2012Q1 us-gaap Other Comprehensive Income Loss Before Tax Period Increase Decrease
OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecrease
14700000 USD
CY2012Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
13800000 USD
CY2011Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
15800000 USD
CY2011Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1200000 USD
CY2012Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
900000 USD
CY2011Q1 us-gaap Other Comprehensive Income Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
1400000 USD
CY2012Q1 us-gaap Other Comprehensive Income Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
1200000 USD
CY2011Q1 us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax
1300000 USD
CY2012Q1 us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax
1500000 USD
CY2012Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
3300000 USD
CY2011Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
2900000 USD
CY2011Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
25400000 USD
CY2012Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
25000000 USD
CY2012Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
100000 USD
CY2011Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-1600000 USD
CY2012Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
4100000 USD
CY2011Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2000000 USD
CY2011Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
45800000 USD
CY2012Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
21600000 USD
CY2011Q1 us-gaap Payments For Software
PaymentsForSoftware
800000 USD
CY2012Q1 us-gaap Payments For Software
PaymentsForSoftware
100000 USD
CY2011Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
2700000 USD
CY2012Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
2400000 USD
CY2011Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
CY2012Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
4500000 USD
CY2011Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27700000 USD
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7800000 USD
CY2011Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
42300000 USD
CY2012Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
44500000 USD
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2012Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2012Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2012Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2011Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
56100000 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
7100000 USD
CY2012Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-1500000 USD
CY2011Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
200000 USD
CY2012Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
100000 USD
CY2011Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2012Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
420400000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
428800000 USD
CY2012Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
0 USD
CY2011Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
2400000 USD
CY2011Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
200000 USD
CY2012Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5100000 USD
CY2011Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2000000 USD
CY2012Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2200000 USD
CY2011Q1 us-gaap Restructuring Costs
RestructuringCosts
0 USD
CY2012Q1 us-gaap Restructuring Costs
RestructuringCosts
16900000 USD
CY2011Q4 us-gaap Restructuring Reserve
RestructuringReserve
7300000 USD
CY2010Q4 us-gaap Restructuring Reserve
RestructuringReserve
10000000 USD
CY2012Q1 us-gaap Restructuring Reserve
RestructuringReserve
7900000 USD
CY2011 us-gaap Restructuring Reserve Period Expense
RestructuringReservePeriodExpense
7100000 USD
CY2012Q1 us-gaap Restructuring Reserve Period Expense
RestructuringReservePeriodExpense
1800000 USD
CY2011 us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
9500000 USD
CY2012Q1 us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
1500000 USD
CY2011 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-300000 USD
CY2012Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
300000 USD
CY2011Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1000000 USD
CY2012Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
18700000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
418900000 USD
CY2012Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
431100000 USD
CY2011Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
180700000 USD
CY2012Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
202100000 USD
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1600000 USD
CY2011Q1 us-gaap Share Based Compensation
ShareBasedCompensation
900000 USD
CY2011Q1 us-gaap Selling Expense
SellingExpense
5100000 USD
CY2012Q1 us-gaap Selling Expense
SellingExpense
6000000 USD
CY2011Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
104400 shares
CY2011Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17537200 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16028700 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15873500 shares
CY2011Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17432800 shares
CY2012Q1 swm Amount Of Long Term Debt Covered By Interest Rate Swaps
AmountOfLongTermDebtCoveredByInterestRateSwaps
16000000 USD
CY2012Q1 swm Fixed Rate From Impact Of Interest Rate Swaps
FixedRateFromImpactOfInterestRateSwaps
0.021
CY2012Q1 swm Goodwill And Intangible Assets
GoodwillAndIntangibleAssets
7000000 USD
CY2011Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2012Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2012Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2011Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2012Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
100000 USD
CY2011Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
475900000 USD
CY2012Q1 us-gaap Stockholders Equity
StockholdersEquity
482100000 USD
CY2011Q1 us-gaap Stockholders Equity
StockholdersEquity
517600000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
524200000 USD
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2610207 shares
CY2012Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
2856754 shares
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
132100000 USD
CY2012Q1 us-gaap Treasury Stock Value
TreasuryStockValue
150300000 USD
CY2012Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
21600000 USD
CY2011Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
45800000 USD
CY2011Q1 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
300000 USD
CY2012Q1 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
200000 USD
CY2012Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, inventory valuation, useful lives, fair values, sales returns, receivables valuation, pension, postretirement and other benefits, restructuring and impairment, taxes and contingencies. Actual results could differ materially from those estimates.</font></div></div>
CY2012Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
155200 shares
CY2011Q4 swm Goodwill And Intangible Assets
GoodwillAndIntangibleAssets
7100000 USD
CY2012Q1 swm Number Of Production Locations
NumberOfProductionLocations
11
CY2011Q1 swm Operating Profit Percentage
OperatingProfitPercentage
1.000
CY2012Q1 swm Operating Profit Percentage
OperatingProfitPercentage
1.000
CY2011Q1 swm Pension And Other Postretirement Benefit Expense Net Of Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitExpenseNetOfPensionAndOtherPostretirementBenefitContributions
1400000 USD
CY2012Q1 swm Pension And Other Postretirement Benefit Expense Net Of Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitExpenseNetOfPensionAndOtherPostretirementBenefitContributions
1300000 USD
CY2012Q1 swm Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.000
CY2011Q1 swm Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.000
CY2012Q1 dei Amendment Flag
AmendmentFlag
false
CY2012Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q1 dei Document Period End Date
DocumentPeriodEndDate
2012-03-31
CY2012Q1 dei Document Type
DocumentType
10-Q
CY2012Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001000623
CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
15605586 shares
CY2012Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 dei Entity Registrant Name
EntityRegistrantName
SCHWEITZER MAUDUIT INTERNATIONAL INC

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ex311_1q2012.htm Edgar Link pending
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