2021 Q4 Form 10-Q Financial Statement

#000006329622000009 Filed on January 28, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4
Revenue $438.6M $386.7M
YoY Change 13.43% 5.95%
Cost Of Revenue $306.9M $261.2M
YoY Change 17.53% 4.79%
Gross Profit $131.6M $125.5M
YoY Change 4.89% 8.44%
Gross Profit Margin 30.01% 32.46%
Selling, General & Admin $99.31M $99.90M
YoY Change -0.59% -2.75%
% of Gross Profit 75.44% 79.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.50M $27.35M
YoY Change 22.49% -5.47%
% of Gross Profit 25.45% 21.79%
Operating Expenses $99.31M $99.90M
YoY Change -0.59% -2.75%
Operating Profit $10.78M $10.37M
YoY Change 3.91% -309.85%
Interest Expense $6.507M $7.728M
YoY Change -15.8% -16.36%
% of Operating Profit 60.37% 74.5%
Other Income/Expense, Net -$31.71M -$1.734M
YoY Change 1728.89% -38.49%
Pretax Income -$26.44M $1.988M
YoY Change -1429.88% -112.66%
Income Tax -$6.628M $3.980M
% Of Pretax Income 200.2%
Net Earnings -$19.80M -$1.758M
YoY Change 1026.45% -83.2%
Net Earnings / Revenue -4.52% -0.45%
Basic Earnings Per Share -$0.62 -$0.06
Diluted Earnings Per Share -$0.62 -$0.06
COMMON SHARES
Basic Shares Outstanding 31.72M shares 31.73M shares
Diluted Shares Outstanding 31.72M shares 31.73M shares

Balance Sheet

Concept 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.98M $41.20M
YoY Change 72.29% 4.57%
Cash & Equivalents $70.98M $41.18M
Short-Term Investments
Other Short-Term Assets $89.86M $66.20M
YoY Change 35.74% 17.27%
Inventory $192.7M $178.2M
Prepaid Expenses
Receivables $314.0M $305.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $686.8M $591.0M
YoY Change 16.21% -0.57%
LONG-TERM ASSETS
Property, Plant & Equipment $301.1M $306.0M
YoY Change -1.61% -3.13%
Goodwill $772.0M $778.4M
YoY Change -0.83% -9.17%
Intangibles $239.7M $321.0M
YoY Change -25.32% -16.66%
Long-Term Investments $391.0K $64.00M
YoY Change -99.39% 44.56%
Other Assets $20.39M $23.31M
YoY Change -12.55% -79.26%
Total Long-Term Assets $1.367B $1.496B
YoY Change -8.68% -11.46%
TOTAL ASSETS
Total Short-Term Assets $686.8M $591.0M
Total Long-Term Assets $1.367B $1.496B
Total Assets $2.053B $2.087B
YoY Change -1.64% -8.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $112.0M $73.80M
YoY Change 51.79% 17.54%
Accrued Expenses $63.04M $72.70M
YoY Change -13.29% 21.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.271M $26.83M
YoY Change -84.08% 5.07%
Total Short-Term Liabilities $341.1M $332.1M
YoY Change 2.71% 17.25%
LONG-TERM LIABILITIES
Long-Term Debt $831.8M $797.8M
YoY Change 4.26% -15.25%
Other Long-Term Liabilities $18.18M $37.19M
YoY Change -51.11% -55.04%
Total Long-Term Liabilities $850.0M $835.0M
YoY Change 1.79% -18.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $341.1M $332.1M
Total Long-Term Liabilities $850.0M $835.0M
Total Liabilities $1.409B $1.466B
YoY Change -3.89% -6.58%
SHAREHOLDERS EQUITY
Retained Earnings $807.6M $850.4M
YoY Change -5.04% -11.0%
Common Stock $184.8M $176.3M
YoY Change 4.77% -0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $188.4M $184.8M
YoY Change 1.95% -8.87%
Treasury Stock Shares
Shareholders Equity $644.8M $621.5M
YoY Change
Total Liabilities & Shareholders Equity $2.053B $2.087B
YoY Change -1.64% -8.63%

Cashflow Statement

Concept 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income -$19.80M -$1.758M
YoY Change 1026.45% -83.2%
Depreciation, Depletion And Amortization $33.50M $27.35M
YoY Change 22.49% -5.47%
Cash From Operating Activities -$27.16M $35.33M
YoY Change -176.87% 559.44%
INVESTING ACTIVITIES
Capital Expenditures $12.64M $7.535M
YoY Change 67.75% -22.5%
Acquisitions $0.00
YoY Change
Other Investing Activities $171.0K $1.700M
YoY Change -89.94% -137.78%
Cash From Investing Activities -$12.47M -$5.846M
YoY Change 113.29% -58.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.435M $4.237M
YoY Change -42.53% 129.65%
Debt Paid & Issued, Net $102.5M $139.6M
YoY Change -26.58% 5.84%
Cash From Financing Activities $62.36M -$31.38M
YoY Change -298.76% -363.3%
NET CHANGE
Cash From Operating Activities -$27.16M $35.33M
Cash From Investing Activities -$12.47M -$5.846M
Cash From Financing Activities $62.36M -$31.38M
Net Change In Cash $21.81M -$159.0K
YoY Change -13815.72% -103.9%
FREE CASH FLOW
Cash From Operating Activities -$27.16M $35.33M
Capital Expenditures $12.64M $7.535M
Free Cash Flow -$39.80M $27.79M
YoY Change -243.2% -736.68%

Facts In Submission

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Nature of Operations<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Matthews International Corporation ("Matthews" or the "Company"), founded in 1850 and incorporated in Pennsylvania in 1902, is a global provider of brand solutions, memorialization products and industrial technologies. The Company manages its businesses under three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. Effective in the first quarter of fiscal 2022, the Company transferred its surfaces and engineered products businesses from the SGK Brand Solutions segment to the Industrial Technologies segment. This business segment change is consistent with internal management structure and reporting changes effective for fiscal 2022. Prior periods were revised to reflect retrospective application of this segment realignment. Brand solutions consists of brand management, pre-media services, printing plates and cylinders, imaging services, digital asset management, merchandising display systems, and marketing and design services primarily for the consumer goods and retail industries. Memorialization products consist primarily of bronze and granite memorials and other memorialization products, caskets, and cremation and incineration equipment primarily for the cemetery and funeral home industries. Industrial technologies includes the design, manufacturing, service and distribution of high-tech custom energy storage, marking, coding and industrial automation technologies and solutions, and order fulfillment systems for identifying, tracking, picking and conveying consumer and industrial products.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has facilities in North America, Europe, Asia, Australia, and Central and South America.</span></div>
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CY2021Q4 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
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CY2021Q4 matw Defined Benefit Plan Termination Related Costs
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14686000 USD

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