$MEC
Mayville Engineering Company Inc

2019 Form 10-K Financial Statement

#000156459020008206 Filed on March 02, 2020

View on sec.gov

Income Statement

Concept 2019 2018 Q4 2018 Q3
Revenue $519.7M $91.43M $84.34M
YoY Change 46.6%
Cost Of Revenue $461.0M $81.04M $71.52M
YoY Change 51.67%
Gross Profit $58.72M $10.40M $12.82M
YoY Change 16.04%
Gross Profit Margin 11.3% 11.37% 15.2%
Selling, General & Admin $56.00M $7.500M $6.200M
YoY Change 130.45%
% of Gross Profit 95.37% 72.14% 48.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.30M $5.600M $4.970M
YoY Change 36.18%
% of Gross Profit 37.97% 53.87% 38.76%
Operating Expenses $66.70M $8.900M $7.200M
YoY Change 134.04%
Operating Profit -$1.958M $1.585M $5.687M
YoY Change -108.83%
Interest Expense $6.728M $1.274M $846.0K
YoY Change 73.45%
% of Operating Profit 80.38% 14.88%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$8.840M $85.00K $4.841M
YoY Change -150.58%
Income Tax -$4.088M -$505.0K $17.00K
% Of Pretax Income -594.12% 0.35%
Net Earnings -$4.753M $590.0K $4.824M
YoY Change -126.5%
Net Earnings / Revenue -0.91% 0.65% 5.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$275.9K $16.39K $355.6K
COMMON SHARES
Basic Shares Outstanding 17.45M
Diluted Shares Outstanding 17.45M

Balance Sheet

Concept 2019 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change -100.0%
Cash & Equivalents $0.00 $3.089M $84.00K
Short-Term Investments
Other Short-Term Assets $3.000M
YoY Change 87.5%
Inventory $47.30M $53.41M
Prepaid Expenses
Receivables $40.20M
Other Receivables $0.00
Total Short-Term Assets $90.50M $112.8M
YoY Change -19.77%
LONG-TERM ASSETS
Property, Plant & Equipment $128.3M $123.9M
YoY Change 1.99%
Goodwill $69.44M
YoY Change
Intangibles $82.88M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.100M $814.0K
YoY Change 37.5%
Total Long-Term Assets $273.1M $279.0M
YoY Change -2.08%
TOTAL ASSETS
Total Short-Term Assets $90.50M $112.8M
Total Long-Term Assets $273.1M $279.0M
Total Assets $363.6M $391.7M
YoY Change -7.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.20M $45.99M
YoY Change -30.0%
Accrued Expenses $12.00M
YoY Change -12.41%
Deferred Revenue $977.0K
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $600.0K $8.606M
YoY Change -93.26%
Total Short-Term Liabilities $48.20M $83.16M
YoY Change -42.07%
LONG-TERM LIABILITIES
Long-Term Debt $75.30M
YoY Change -56.47%
Other Long-Term Liabilities $25.00M $100.0K
YoY Change 85.19%
Total Long-Term Liabilities $100.3M $100.0K
YoY Change -46.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.20M $83.16M
Total Long-Term Liabilities $100.3M $100.0K
Total Liabilities $162.7M $288.7M
YoY Change -43.64%
SHAREHOLDERS EQUITY
Retained Earnings $26.84M
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $57.66M
YoY Change
Treasury Stock Shares
Shareholders Equity $200.9M
YoY Change
Total Liabilities & Shareholders Equity $363.6M $391.7M
YoY Change -7.17%

Cashflow Statement

Concept 2019 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$4.753M $590.0K $4.824M
YoY Change -126.5%
Depreciation, Depletion And Amortization $22.30M $5.600M $4.970M
YoY Change 36.18%
Cash From Operating Activities $33.40M $8.150M $11.80M
YoY Change -9.02%
INVESTING ACTIVITIES
Capital Expenditures $25.80M -$4.550M -$7.340M
YoY Change 44.29%
Acquisitions $2.369M
YoY Change -97.93%
Other Investing Activities -$2.290M -$114.7M $10.00K
YoY Change -98.0%
Cash From Investing Activities -$28.09M -$119.3M -$7.330M
YoY Change -78.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.591M
YoY Change -66.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.400M 114.1M -4.470M
YoY Change -108.5%
NET CHANGE
Cash From Operating Activities 33.40M 8.150M 11.80M
Cash From Investing Activities -28.09M -119.3M -7.330M
Cash From Financing Activities -8.400M 114.1M -4.470M
Net Change In Cash -3.088M 3.010M -0.0000000009313
YoY Change -202.49%
FREE CASH FLOW
Cash From Operating Activities $33.40M $8.150M $11.80M
Capital Expenditures $25.80M -$4.550M -$7.340M
Free Cash Flow $7.605M $12.70M $19.14M
YoY Change -59.63%

Facts In Submission

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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3088000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3013000
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-67000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3089000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
76000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
143000
CY2019 us-gaap Interest Paid
InterestPaid
6629000
CY2018 us-gaap Interest Paid
InterestPaid
4117000
CY2017 us-gaap Interest Paid
InterestPaid
4305000
CY2018 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
167781000
CY2018 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
53081000
CY2018 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
114700000
CY2019 mec Non Cash Transaction Construction In Progress And Accounts Payable
NonCashTransactionConstructionInProgressAndAccountsPayable
2809000
CY2018 mec Non Cash Transaction Construction In Progress And Accounts Payable
NonCashTransactionConstructionInProgressAndAccountsPayable
1240000
CY2017 mec Non Cash Transaction Construction In Progress And Accounts Payable
NonCashTransactionConstructionInProgressAndAccountsPayable
186000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
CY2019 us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
105845000
CY2019 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
101763000
CY2019 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2592000
CY2019 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3486000
CY2019 mec Net Income Loss Post Ipo
NetIncomeLossPostIPO
-7609000
CY2019 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 12. Contingencies </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">From time to time, the Company may be involved in various claims and lawsuits, both for and against the Company, arising in the normal course of business. Although the results of litigation and claims cannot be predicted with certainty, in management&#8217;s opinion, either the likelihood of loss is remote, or any reasonably possible loss associated with the resolution of such proceedings is not expected to have a material adverse impact on the consolidated financial statements.</p>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts and disclosures. Accordingly, actual results could differ from those estimates.</p>
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Concentration of credit risk</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to credit risk consist principally of bank balances above the Federal Deposit Insurance Corporation (FDIC) insurability limits of $250 per official custodian. The Company has not experienced any losses on these accounts and management believes the Company is not exposed to any significant credit risk on cash.</p>
CY2019 mec Number Of Facilities Operated
NumberOfFacilitiesOperated
20
CY2019 us-gaap Employee Stock Ownership Plan Esop Plan Description
EmployeeStockOwnershipPlanESOPPlanDescription
From January 2003 until the Company’s initial public offering of its common stock (IPO) in May 2019, the ESOP owned 100% of the Company’s outstanding shares of common stock which have been fully allocated to active or retired eligible employees.
CY2019 mec Percentage Of Outstanding Shares Of Common Stock Owned By Employee Stock Ownership Plan Esop
PercentageOfOutstandingSharesOfCommonStockOwnedByEmployeeStockOwnershipPlanESOP
1.00
CY2019 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
CY2018 us-gaap Number Of Reporting Units
NumberOfReportingUnits
2
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
142
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2173000
CY2017Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
412000
CY2019 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
381000
CY2018 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
198000
CY2017 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
249000
CY2019Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
474
CY2018Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
114000
CY2017Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
619000
CY2019 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
154000
CY2018 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
814000
CY2017 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0
CY2019 us-gaap Advertising Expense
AdvertisingExpense
110000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
116000
CY2017 us-gaap Advertising Expense
AdvertisingExpense
157000
CY2019Q2 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
10075
CY2019Q2 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
13443484
CY2019 mec Business Combination Gain Loss On Contingent Consideration Liability
BusinessCombinationGainLossOnContingentConsiderationLiability
6054000
CY2019Q4 us-gaap Business Combination Acquired Receivables Fair Value
BusinessCombinationAcquiredReceivablesFairValue
27000
CY2019Q4 mec Business Combination Fair Value Adjustment Of Acquired Inventory
BusinessCombinationFairValueAdjustmentOfAcquiredInventory
1508000
CY2019Q4 mec Business Combination Fair Value Adjustment Of Acquired Property Plant And Equipment
BusinessCombinationFairValueAdjustmentOfAcquiredPropertyPlantAndEquipment
-36000
CY2019 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
1097000
CY2019Q4 mec Business Combination Fair Value Adjustment Other Liabilities
BusinessCombinationFairValueAdjustmentOtherLiabilities
31000
CY2019Q2 mec Working Capital
WorkingCapital
2368000
CY2018 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
523721000
CY2018 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
17151000
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
28664000
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
32589000
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
10834000
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
12329000
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
6194000
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
8487000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
289063000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
266399000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
142516000
CY2019 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-270000
CY2019 mec Goodwill Net Working Capital True Up Adjustments
GoodwillNetWorkingCapitalTrueUpAdjustments
2368000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
33582000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
22876000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
68362000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
79068000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
10706000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
10706000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6952000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6865000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
5192000
CY2019 mec Interest Coverage Ratio
InterestCoverageRatio
0.0742
CY2019 mec Consolidated Leverage Ratio
ConsolidatedLeverageRatio
0.0139
CY2018Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
121106000
CY2018Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
825000
CY2019 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
1776000
CY2018 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
2051000
CY2017 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
734000
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
734000
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
734000
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
734000
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
514000
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
226000
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
3676000
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
392000
CY2019Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
3285000
CY2019Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
3285000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3402000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2725000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1923000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1792000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
830000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2094000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
12766000
CY2019 mec Lessee Operating Lease Term Of Contract Month And Year
LesseeOperatingLeaseTermOfContractMonthAndYear
2028-12
CY2019 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4801000
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2052000
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1856000
CY2019 us-gaap Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
0.03
CY2019Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
11790113
CY2018Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
13443484
CY2018Q4 us-gaap Employee Stock Ownership Plan Esop Fair Value Of Shares Subject To Repurchase Obligation
EmployeeStockOwnershipPlanESOPFairValueOfSharesSubjectToRepurchaseObligation
133806000
CY2018 us-gaap Employee Stock Ownership Plan Esop Weighted Average Purchase Price Of Shares Purchased
EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased
9.95
CY2019 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.50
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
696000
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
671000
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
401000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-126000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1544000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
614000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1945000
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
488000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-4197000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-793000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1836000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-154000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-6033000
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-947000
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1854000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-388000
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-58000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-61000
CY2019 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
357000
CY2019 mec Income Tax Reconciliation Income Taxed By Shareholder Before Ipo
IncomeTaxReconciliationIncomeTaxedByShareholderBeforeIPO
-867000
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
77000
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
171000
CY2019 mec Income Tax Reconciliation Transaction Costs
IncomeTaxReconciliationTransactionCosts
607000
CY2019 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-2355000
CY2019 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
254000
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
259000
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-181000
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.475
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.025
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
8645000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
226000
CY2019Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1837000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
211000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
279000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3120000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
949000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
288000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
14092000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1464000
CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
8354000
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4379000
CY2019Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
19305000
CY2018Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
16034000
CY2018Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts
175000
CY2019Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
622000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
28281000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
20587000
CY2019Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
14188000
CY2018Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
19123000
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2019 us-gaap Deferred Compensation Arrangement With Individual Description
DeferredCompensationArrangementWithIndividualDescription
The Mayville Engineering Deferred Compensation Plan is available for certain employees designated to be eligible to participate by the Company and approved by the Board of Directors.
CY2019 mec Description Of Conditions In Respect Of Long Term Cash Incentives To Eligible Participants
DescriptionOfConditionsInRespectOfLongTermCashIncentivesToEligibleParticipants
Prior to the IPO, the Company’s long-term incentive plan (LTIP) was available for any employee who had been designated to be eligible to participate by the Compensation Committee of the Board of Directors. Annually, the LTIP provided for long-term cash incentive awards to eligible participants based on the Company’s performance over a three-year performance period.
CY2019Q4 us-gaap Assumed Liability For Unpaid Claims And Claims Adjustment Expense
AssumedLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
1316000
CY2018Q4 us-gaap Assumed Liability For Unpaid Claims And Claims Adjustment Expense
AssumedLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
1730000
CY2019 mec Reinsurance Policy Retention To Limit Annual Aggregate Risk
ReinsurancePolicyRetentionToLimitAnnualAggregateRisk
19208000
CY2018 mec Reinsurance Policy Retention To Limit Annual Aggregate Risk
ReinsurancePolicyRetentionToLimitAnnualAggregateRisk
17726000
CY2017 mec Reinsurance Policy Retention To Limit Annual Aggregate Risk
ReinsurancePolicyRetentionToLimitAnnualAggregateRisk
16176000
CY2019 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
19405000
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
75000
CY2019 mec Fair Value Measurements Transfers Between Level One And Level Two
FairValueMeasurementsTransfersBetweenLevelOneAndLevelTwo
24949000
CY2018Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
6076000
CY2018Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
2318000
CY2019 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
729000
CY2019Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1589000
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
977000
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
63000
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
914000
CY2019Q2 us-gaap Stockholders Equity Note Changes In Capital Structure Retroactive Impact
StockholdersEquityNoteChangesInCapitalStructureRetroactiveImpact
On May 13, 2019, the Company issued a stock dividend specific to pre-IPO shares, of approximately 1,334.34-for-1. The share dividend was accounted for as a 1,334.34-for-1 stock split and is retroactively reflected in these consolidated financial statements. All share redemption provisions mentioned in Note 19, Temporary Equity, were removed effective with the IPO. Therefore, common shares were reclassified from temporary equity to permanent equity as of May 2019.
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
0
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.213
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0242
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
17
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
Black-Scholes option pricing model
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.07
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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