$MATV
Mativ Holdings, Inc.

2020 Q1 Form 10-Q Financial Statement

#000100062320000076 Filed on May 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $261.5M $258.0M
YoY Change 1.36% -1.49%
Cost Of Revenue $187.2M $190.1M
YoY Change -1.53% 0.11%
Gross Profit $74.30M $67.90M
YoY Change 9.43% -5.69%
Gross Profit Margin 28.41% 26.32%
Selling, General & Admin $36.90M $34.20M
YoY Change 7.89% 5.23%
% of Gross Profit 49.66% 50.37%
Research & Development $3.200M $3.300M
YoY Change -3.03% -19.51%
% of Gross Profit 4.31% 4.86%
Depreciation & Amortization $15.30M $14.40M
YoY Change 6.25% -7.69%
% of Gross Profit 20.59% 21.21%
Operating Expenses $40.10M $37.50M
YoY Change 6.93% 2.46%
Operating Profit $34.10M $30.40M
YoY Change 12.17% -13.14%
Interest Expense $6.900M $7.800M
YoY Change -11.54% 25.81%
% of Operating Profit 20.23% 25.66%
Other Income/Expense, Net $600.0K -$600.0K
YoY Change -200.0% 100.0%
Pretax Income $27.80M $22.00M
YoY Change 26.36% -22.81%
Income Tax $5.300M $4.400M
% Of Pretax Income 19.06% 20.0%
Net Earnings $22.50M $17.40M
YoY Change 29.31% -15.12%
Net Earnings / Revenue 8.6% 6.74%
Basic Earnings Per Share $0.72 $0.57
Diluted Earnings Per Share $0.72 $0.56
COMMON SHARES
Basic Shares Outstanding 30.71M shares 30.62M shares
Diluted Shares Outstanding 30.91M shares 30.72M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $126.7M $83.40M
Short-Term Investments
Other Short-Term Assets $11.20M $7.800M
YoY Change 43.59% -3.7%
Inventory $159.5M $154.5M
Prepaid Expenses
Receivables $170.4M $164.2M
Other Receivables
Total Short-Term Assets $473.7M $430.4M
YoY Change 10.06% -1.13%
LONG-TERM ASSETS
Property, Plant & Equipment $324.9M $333.4M
YoY Change -2.55% -8.33%
Goodwill $396.5M $338.3M
YoY Change 17.2% -1.43%
Intangibles $329.8M $266.6M
YoY Change 23.71% -9.38%
Long-Term Investments $51.50M $52.20M
YoY Change -1.34% -26.27%
Other Assets $74.10M $64.40M
YoY Change 15.06% 63.87%
Total Long-Term Assets $1.182B $1.055B
YoY Change 11.96% -5.09%
TOTAL ASSETS
Total Short-Term Assets $473.7M $430.4M
Total Long-Term Assets $1.182B $1.055B
Total Assets $1.655B $1.486B
YoY Change 11.41% -3.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $67.70M $72.10M
YoY Change -6.1% 17.81%
Accrued Expenses $69.80M $63.10M
YoY Change 10.62% -8.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change -100.0%
Long-Term Debt Due $1.900M $3.100M
YoY Change -38.71% -18.42%
Total Short-Term Liabilities $142.4M $139.7M
YoY Change 1.93% 0.43%
LONG-TERM LIABILITIES
Long-Term Debt $752.8M $617.2M
YoY Change 21.97% -7.99%
Other Long-Term Liabilities $73.40M $66.10M
YoY Change 11.04% 4.59%
Total Long-Term Liabilities $826.2M $683.3M
YoY Change 20.91% -6.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $142.4M $139.7M
Total Long-Term Liabilities $826.2M $683.3M
Total Liabilities $1.063B $923.6M
YoY Change 15.11% -6.24%
SHAREHOLDERS EQUITY
Retained Earnings $646.2M $610.8M
YoY Change 5.8% 7.2%
Common Stock $3.100M $3.100M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $592.0M $562.1M
YoY Change
Total Liabilities & Shareholders Equity $1.655B $1.486B
YoY Change 11.41% -3.97%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $22.50M $17.40M
YoY Change 29.31% -15.12%
Depreciation, Depletion And Amortization $15.30M $14.40M
YoY Change 6.25% -7.69%
Cash From Operating Activities $5.100M $13.00M
YoY Change -60.77% -40.91%
INVESTING ACTIVITIES
Capital Expenditures $7.400M $7.300M
YoY Change 1.37% 21.67%
Acquisitions $170.6M $0.00
YoY Change
Other Investing Activities -$2.400M -$1.100M
YoY Change 118.18% -237.5%
Cash From Investing Activities -$176.3M -$7.600M
YoY Change 2219.74% 5.56%
FINANCING ACTIVITIES
Cash Dividend Paid $13.70M $13.60M
YoY Change 0.74% 3.03%
Common Stock Issuance & Retirement, Net $1.000M $900.0K
YoY Change 11.11% -64.0%
Debt Paid & Issued, Net $400.0K $600.0K
YoY Change -33.33% -93.81%
Cash From Financing Activities $196.9M -$15.30M
YoY Change -1386.93% -42.91%
NET CHANGE
Cash From Operating Activities $5.100M $13.00M
Cash From Investing Activities -$176.3M -$7.600M
Cash From Financing Activities $196.9M -$15.30M
Net Change In Cash $23.70M -$10.40M
YoY Change -327.88% -3.7%
FREE CASH FLOW
Cash From Operating Activities $5.100M $13.00M
Capital Expenditures $7.400M $7.300M
Free Cash Flow -$2.300M $5.700M
YoY Change -140.35% -64.38%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q1 dei Amendment Flag
AmendmentFlag
false
CY2020Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2020Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2020Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2020Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001000623
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.44
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.44
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.1
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.1
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
30896661 shares
CY2020Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31193345 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
30896661 shares
CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31193345 shares
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
25500000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
25500000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
25500000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
25500000 USD
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.1
CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.1
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2020Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2020Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2020Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2020Q1 dei Document Type
DocumentType
10-Q
CY2020Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2020Q1 dei Document Period End Date
DocumentPeriodEndDate
2020-03-31
CY2020Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2019Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-200000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.72
CY2020Q1 dei Entity File Number
EntityFileNumber
1-13948
CY2020Q1 dei Entity Registrant Name
EntityRegistrantName
SCHWEITZER-MAUDUIT INTERNATIONAL, INC.
CY2020Q1 dei Local Phone Number
LocalPhoneNumber
514-0186
CY2020Q1 dei Security12b Title
Security12bTitle
Common stock, $0.10 par value
CY2020Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2020Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
22500000 USD
CY2020Q1 dei Trading Symbol
TradingSymbol
SWM
CY2020Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2020Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2019Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
17400000 USD
CY2020Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
62-1612879
CY2020Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
100 North Point Center East,
CY2020Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 600
CY2020Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Alpharetta,
CY2020Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
GA
CY2020Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
30022
CY2020Q1 dei City Area Code
CityAreaCode
800
CY2020Q1 dei Security Exchange Name
SecurityExchangeName
NYSE
CY2020Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2020Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020Q1 dei Entity Shell Company
EntityShellCompany
false
CY2020Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
31195562 shares
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
261500000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
258000000.0 USD
CY2020Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
187200000 USD
CY2019Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
190100000 USD
CY2020Q1 us-gaap Gross Profit
GrossProfit
74300000 USD
CY2019Q1 us-gaap Gross Profit
GrossProfit
67900000 USD
CY2020Q1 us-gaap Selling Expense
SellingExpense
9500000 USD
CY2019Q1 us-gaap Selling Expense
SellingExpense
8600000 USD
CY2020Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3200000 USD
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3300000 USD
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27400000 USD
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
25600000 USD
CY2020Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
40100000 USD
CY2019Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
37500000 USD
CY2020Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
100000 USD
CY2019Q1 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
34100000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
30400000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
6900000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
7800000 USD
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
600000 USD
CY2019Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-600000 USD
CY2020Q1 us-gaap Debt Current
DebtCurrent
1900000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
22500000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
17400000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
27800000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30712300 shares
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
22000000.0 USD
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30620600 shares
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
22500000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
17400000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5300000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4400000 USD
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2019Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
3700000 USD
CY2020Q1 us-gaap Equity Method Investments
EquityMethodInvestments
51500000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.57
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.72
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.56
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30910000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30716700 shares
CY2020Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-3500000 USD
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
900000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
200000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-12700000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
400000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
900000 USD
CY2020Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
100000 USD
CY2019Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
0 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
400000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
500000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-15700000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
700000 USD
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6800000 USD
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18100000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
126700000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
103000000.0 USD
CY2020Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
170400000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
143200000 USD
CY2020Q1 us-gaap Inventory Net
InventoryNet
159500000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
161400000 USD
CY2020Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
5900000 USD
CY2019Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
12500000 USD
CY2020Q1 us-gaap Other Assets Current
OtherAssetsCurrent
11200000 USD
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
7400000 USD
CY2020Q1 us-gaap Assets Current
AssetsCurrent
473700000 USD
CY2019Q4 us-gaap Debt Current
DebtCurrent
1900000 USD
CY2019Q4 us-gaap Equity Method Investments
EquityMethodInvestments
52400000 USD
CY2020Q1 us-gaap Goodwill
Goodwill
396500000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
337400000 USD
CY2019Q4 us-gaap Assets Current
AssetsCurrent
427500000 USD
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
324900000 USD
CY2020Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
67700000 USD
CY2019Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
66400000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
330300000 USD
CY2020Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
4700000 USD
CY2020Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
329800000 USD
CY2020Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3000000.0 USD
CY2019Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
2800000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
251200000 USD
CY2020Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
74100000 USD
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
69200000 USD
CY2020Q1 us-gaap Assets
Assets
1655200000 USD
CY2019Q4 us-gaap Assets
Assets
1471700000 USD
CY2020Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
69800000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
86500000 USD
CY2020Q1 us-gaap Liabilities Current
LiabilitiesCurrent
142400000 USD
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
157600000 USD
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
752800000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
540800000 USD
CY2020Q1 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
18200000 USD
CY2019Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
21400000 USD
CY2020Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
31300000 USD
CY2019Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
31600000 USD
CY2020Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
45100000 USD
CY2019Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
48200000 USD
CY2020Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
73400000 USD
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
74400000 USD
CY2020Q1 us-gaap Liabilities
Liabilities
1063200000 USD
CY2019Q4 us-gaap Liabilities
Liabilities
874000000.0 USD
CY2020Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2020Q1 us-gaap Common Stock Value
CommonStockValue
3100000 USD
CY2019Q4 us-gaap Common Stock Value
CommonStockValue
3100000 USD
CY2020Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
81000000.0 USD
CY2019Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
78800000 USD
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
646200000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
638400000 USD
CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-138300000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-122600000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
592000000.0 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
597700000 USD
CY2020Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1655200000 USD
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1471700000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
557900000 USD
CY2019Q1 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
-300000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
17400000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
700000 USD
CY2019Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
13600000 USD
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
900000 USD
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
900000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
562100000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
597700000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
22500000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-15700000 USD
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
13700000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2100000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
100000 USD
CY2020Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1000000.0 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
592000000.0 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
22500000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
17400000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15300000 USD
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14400000 USD
CY2020Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
700000 USD
CY2019Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-500000 USD
CY2020Q1 swm Pension And Other Postretirement Benefit Expense Net Of Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitExpenseNetOfPensionAndOtherPostretirementBenefitContributions
800000 USD
CY2019Q1 swm Pension And Other Postretirement Benefit Expense Net Of Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitExpenseNetOfPensionAndOtherPostretirementBenefitContributions
700000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2200000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
900000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2019Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-200000 USD
CY2020Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-2700000 USD
CY2019Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1900000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
33700000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
12500000 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-10800000 USD
CY2019Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4000000.0 USD
CY2020Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
3500000 USD
CY2019Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
2700000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1300000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7500000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-10700000 USD
CY2019Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-11700000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
2100000 USD
CY2019Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1400000 USD
CY2020Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
33700000 USD
CY2019Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
22000000.0 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5100000 USD
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
170600000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1100000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-176300000 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2400000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13000000.0 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7400000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7300000 USD
CY2020Q1 us-gaap Payments For Software
PaymentsForSoftware
700000 USD
CY2019Q1 us-gaap Payments For Software
PaymentsForSoftware
1400000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7600000 USD
CY2020Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
13700000 USD
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
13600000 USD
CY2020Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-200000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
212000000.0 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
400000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
600000 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000.0 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
900000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
196900000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15300000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2000000.0 USD
CY2019Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-500000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
23700000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10400000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
103000000.0 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93800000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
126700000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
83400000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
2300000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
3500000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2300000 USD
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3300000 USD
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2900000 USD
CY2019Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1700000 USD
CY2020Q1 us-gaap Nature Of Operations
NatureOfOperations
General<div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Business</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Schweitzer-Mauduit International, Inc. ("SWM," "we," or the "Company"), headquartered in the United States of America, is a multinational diversified producer of highly engineered solutions and advanced materials for a variety of industries. The Company maintains </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> operating product line segments: Advanced Materials &amp; Structures and Engineered Papers.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Advanced Materials &amp; Structures ("AMS") segment produces mostly resin-based rolled goods such as nets, films and meltblown materials, typically through an extrusion process or other non-woven technologies. AMS also provides converting and coating services. These products are used in a variety of specialty applications across the filtration, construction and infrastructure, transportation, industrial and medical end-markets. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Engineered Papers ("EP") segment primarily serves the tobacco industry with production of various cigarette papers and reconstituted tobacco products ("Recon"). Traditional reconstituted tobacco leaf ("RTL") is used as a blend with virgin tobacco in cigarettes and used as wrappers and binders for cigars. Recon, as well as low ignition propensity ("LIP") cigarette paper, a specialty product with fire-safety features, are two key profit drivers, which together account for more than half of segment net sales. The EP segment also produces non-tobacco papers for premium applications, such as energy storage and industrial commodity paper grades.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We conduct business in over </span><span style="font-family:inherit;font-size:10pt;"><span>90</span></span><span style="font-family:inherit;font-size:10pt;"> countries and operate </span><span style="font-family:inherit;font-size:10pt;"><span>24</span></span><span style="font-family:inherit;font-size:10pt;"> production locations worldwide, with locations in the U.S., Canada, United Kingdom, France, Luxembourg, Belgium, Russia, Brazil, China and Poland. We also have a </span><span style="font-family:inherit;font-size:10pt;"><span>50%</span></span><span style="font-family:inherit;font-size:10pt;"> equity interest in </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> joint ventures in China. The first, China Tobacco Mauduit (Jiangmen) Paper Industry Ltd. ("CTM"), produces cigarette and porous plug wrap papers and the second, China Tobacco Schweitzer (Yunnan) Reconstituted Tobacco Co. Ltd. ("CTS"), produces RTL.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed 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 ("SEC") and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America ("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.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The results of operations for the </span><span style="font-family:inherit;font-size:10pt;">three months ended</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">March 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results to be expected for the full year. The unaudited condensed consolidated financial statements and these notes thereto included herein should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended </span><span style="font-family:inherit;font-size:10pt;">December 31, 2019</span><span style="font-family:inherit;font-size:10pt;">, as filed with the SEC on March 2, 2020.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Principles of Consolidation</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements include the accounts of the Company and its wholly-owned, majority-owned and controlled subsidiaries. The Company’s share of the net income of its </span><span style="font-family:inherit;font-size:10pt;"><span>50%</span></span><span style="font-family:inherit;font-size:10pt;">-owned joint ventures in China is included in the condensed consolidated statements of income as Income from equity affiliates, net of income taxes. Intercompany balances and transactions have been eliminated. </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span 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 condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, inventory valuation, useful lives of tangible and intangible assets, fair values, sales returns and rebates, receivables valuation, pension, postretirement and other benefits, restructuring and impairment, taxes and contingencies. Furthermore, the Company considered the potential impact from the global economic and social disruption caused by the novel coronavirus (“COVID-19”) in estimates used in the Company’s financial statements as of and for the period ended March 31, 2020. The Company determined changes to these estimates did not have a material impact on our assessment of recoverability of our assets, including Accounts receivable, net, Goodwill, Intangible assets or long-lived assets. There may also be long-term undetermined effects on some of our customers and suppliers, and as a result of these uncertainties, actual results could differ materially from these estimates and assumptions.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Recently Adopted Accounting Standards</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326). The update requires that an entity measure and recognize expected credit losses for certain financial instruments, including trade receivables, as an allowance that reflects a current estimate of credit losses expected to be incurred. The Company adopted this guidance as of January 1, 2020 on a prospective basis. There was no material impact upon adoption and the Company does not expect the provisions of this update to have a material impact on the consolidated financial statements.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The amendment eliminates the second step of the analysis that required the measurement of a goodwill impairment by comparing the implied value of a reporting unit’s goodwill and the goodwill’s carrying amount. While the provisions of the standard will simplify the measurement of goodwill impairments, the Company does not expect a material impact from adoption, which was effective as of January 1, 2020. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurements." The new standard modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, based on the concepts in the Concepts </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Statement, including the consideration of costs and benefits. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company has adopted this guidance effective as of January 1, 2020, the provisions of which will not impact existing fair value measurements.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." The new standard provides updated guidance surrounding implementation costs associated with cloud computing arrangements that are service contracts. The provisions of this ASU are effective for years beginning after December 15, 2019. The Company adopted the provisions of this guidance prospectively as of January 1, 2020. There was no material impact upon adoption and the Company does not expect the provisions of this update to have a material impact on the consolidated financial statements.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Recently Issued Accounting Standards</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-14, "Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans." The new standard modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The provisions of this ASU are effective for years beginning after December 15, 2020, with early adoption permitted. The new standard requires the amendments to be applied on a retrospective basis for all periods presented. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." The new standard simplifies income tax accounting requirements by removing certain exceptions to the general principles in Topic 740, Income Taxes. The provisions of this ASU are effective for years beginning after December 15, 2020 with early adoption permitted. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div>In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The new standard provides optional expedients and exceptions for applying generally accepted accounting principles ("GAAP") to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU are effective for all entities as of March 12, 2020, through December 31, 2022. The Company does not currently have any contracts that have been changed to a new reference rate but will continue to evaluate the applicability and impact of the guidance.
CY2020Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2020Q1 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
90 country
CY2020Q1 swm Number Of Production Locations
NumberOfProductionLocations
24 production_location
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span 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 condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, inventory valuation, useful lives of tangible and intangible assets, fair values, sales returns and rebates, receivables valuation, pension, postretirement and other benefits, restructuring and impairment, taxes and contingencies. Furthermore, the Company considered the potential impact from the global economic and social disruption caused by the novel coronavirus (“COVID-19”) in estimates used in the Company’s financial statements as of and for the period ended March 31, 2020. The Company determined changes to these estimates did not have a material impact on our assessment of recoverability of our assets, including Accounts receivable, net, Goodwill, Intangible assets or long-lived assets. There may also be long-term undetermined effects on some of our customers and suppliers, and as a result of these uncertainties, actual results could differ materially from these estimates and assumptions.</span></div>
CY2020Q1 swm Number Of Revenue Sources
NumberOfRevenueSources
2 revenue_source
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
261500000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
258000000.0 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
261500000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
258000000.0 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-19000000.0 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-3300000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-15700000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-2700000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-3400000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
700000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
22500000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
17400000 USD
CY2020Q1 us-gaap Distributed Earnings
DistributedEarnings
300000 USD
CY2019Q1 us-gaap Distributed Earnings
DistributedEarnings
100000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22200000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17300000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30712300 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30620600 shares
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
197700 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
96100 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30910000.0 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30716700 shares
CY2020Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
67400000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
61100000 USD
CY2020Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
23100000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
20700000 USD
CY2020Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
59800000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
65300000 USD
CY2020Q1 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
9200000 USD
CY2019Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
14300000 USD
CY2020Q1 us-gaap Inventory Net
InventoryNet
159500000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
161400000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
337400000 USD
CY2020Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
60400000 USD
CY2020Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-1300000 USD
CY2020Q1 us-gaap Goodwill
Goodwill
396500000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5300000 USD
CY2019Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5100000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
25500000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
500000 USD
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
1400000 USD
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
100000 USD
CY2019 us-gaap Restructuring Charges
RestructuringCharges
3700000 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
300000 USD
CY2019 us-gaap Payments For Restructuring
PaymentsForRestructuring
4200000 USD
CY2020Q1 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
0 USD
CY2019 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-400000 USD
CY2020Q1 us-gaap Restructuring Reserve
RestructuringReserve
300000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
500000 USD
CY2020Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5600000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5900000 USD
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
754700000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
542700000 USD
CY2020Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1900000 USD
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1900000 USD
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
752800000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
540800000 USD
CY2020Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5600000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5900000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3100000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3900000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3900000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
215300000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2500000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
531600000 USD
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
760300000 USD
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
14900000 USD
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
14700000 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
11200000 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
11300000 USD
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.191
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.200
CY2020Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
261500000 USD
CY2020Q1 swm Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
258000000.0 USD
CY2019Q1 swm Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
34100000 USD
CY2020Q1 swm Operating Profit Percentage
OperatingProfitPercentage
1.000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
30400000 USD
CY2019Q1 swm Operating Profit Percentage
OperatingProfitPercentage
1.000
CY2020Q1 us-gaap Assets
Assets
1655200000 USD
CY2019Q4 us-gaap Assets
Assets
1471700000 USD

Files In Submission

Name View Source Status
0001000623-20-000076-index-headers.html Edgar Link pending
0001000623-20-000076-index.html Edgar Link pending
0001000623-20-000076.txt Edgar Link pending
0001000623-20-000076-xbrl.zip Edgar Link pending
ex31120200331.htm Edgar Link pending
ex31220200331.htm Edgar Link pending
ex3220200331.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
R9999.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
swm-20200331.xsd Edgar Link pending
swm-20200331_cal.xml Edgar Link unprocessable
swm-20200331_def.xml Edgar Link unprocessable
swm-20200331_lab.xml Edgar Link unprocessable
swm-20200331_pre.xml Edgar Link unprocessable
swmform10-q03312020.htm Edgar Link pending
swmform10-q03312020_htm.xml Edgar Link completed