$MOD
MODINE MANUFACTURING CO

2024 Q1 Form 10-Q Financial Statement

#000114036124004740 Filed on January 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $603.5M $561.4M
YoY Change -2.36% 0.25%
Cost Of Revenue $468.2M $434.1M
YoY Change -7.45% -6.12%
Gross Profit $135.3M $127.3M
YoY Change 20.59% 30.43%
Gross Profit Margin 22.42% 22.68%
Selling, General & Admin $75.60M $68.00M
YoY Change 24.14% 17.24%
% of Gross Profit 55.88% 53.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.00M $13.40M
YoY Change 8.7% 0.0%
% of Gross Profit 11.09% 10.53%
Operating Expenses $75.60M $68.00M
YoY Change 24.14% 17.24%
Operating Profit $59.70M $61.70M
YoY Change 16.37% 56.2%
Interest Expense -$6.500M $5.800M
YoY Change 8.33% -1.69%
% of Operating Profit -10.89% 9.4%
Other Income/Expense, Net -$800.0K -$500.0K
YoY Change 166.67% 25.0%
Pretax Income $39.50M $55.40M
YoY Change -6.4% 66.87%
Income Tax $13.40M $10.30M
% Of Pretax Income 33.92% 18.59%
Net Earnings $25.80M $44.40M
YoY Change -71.3% 81.22%
Net Earnings / Revenue 4.28% 7.91%
Basic Earnings Per Share $0.85
Diluted Earnings Per Share $0.48 $0.83
COMMON SHARES
Basic Shares Outstanding 52.21M 52.24M
Diluted Shares Outstanding 53.20M

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.10M $149.7M
YoY Change -10.43% 82.12%
Cash & Equivalents $60.10M $149.7M
Short-Term Investments
Other Short-Term Assets $53.10M $62.80M
YoY Change -5.85% -2.79%
Inventory $357.9M $341.3M
Prepaid Expenses
Receivables $422.9M $364.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $894.0M $918.2M
YoY Change 5.62% 13.67%
LONG-TERM ASSETS
Property, Plant & Equipment $365.7M $317.3M
YoY Change 16.28% 5.42%
Goodwill $230.9M $166.7M
YoY Change 39.43% 1.15%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $97.50M $92.70M
YoY Change 30.7% 42.62%
Total Long-Term Assets $957.5M $733.2M
YoY Change 33.08% 14.71%
TOTAL ASSETS
Total Short-Term Assets $894.0M $918.2M
Total Long-Term Assets $957.5M $733.2M
Total Assets $1.852B $1.651B
YoY Change 18.24% 14.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $283.4M $255.3M
YoY Change -14.84% -15.52%
Accrued Expenses $116.9M $92.60M
YoY Change 15.06% -0.86%
Deferred Revenue
YoY Change
Short-Term Debt $12.00M $0.00
YoY Change 224.32% -100.0%
Long-Term Debt Due $19.70M $19.70M
YoY Change -15.81% 0.51%
Total Short-Term Liabilities $545.8M $475.5M
YoY Change 7.63% 2.06%
LONG-TERM LIABILITIES
Long-Term Debt $399.9M $313.5M
YoY Change 21.44% -12.65%
Other Long-Term Liabilities $92.60M $90.40M
YoY Change 9.07% 24.35%
Total Long-Term Liabilities $92.60M $90.40M
YoY Change 9.07% 24.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $545.8M $475.5M
Total Long-Term Liabilities $92.60M $90.40M
Total Liabilities $1.096B $916.2M
YoY Change 13.42% -3.1%
SHAREHOLDERS EQUITY
Retained Earnings $659.0M $633.2M
YoY Change 32.46% 55.35%
Common Stock $35.00M $35.00M
YoY Change 1.16% 1.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $747.6M $727.4M
YoY Change
Total Liabilities & Shareholders Equity $1.852B $1.651B
YoY Change 18.24% 14.13%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $25.80M $44.40M
YoY Change -71.3% 81.22%
Depreciation, Depletion And Amortization $15.00M $13.40M
YoY Change 8.7% 0.0%
Cash From Operating Activities $39.60M $64.20M
YoY Change 0.0% 444.07%
INVESTING ACTIVITIES
Capital Expenditures $44.10M $18.20M
YoY Change 184.52% 49.18%
Acquisitions
YoY Change
Other Investing Activities -$184.8M -$1.900M
YoY Change -61700.0% 1800.0%
Cash From Investing Activities -$228.9M -$20.10M
YoY Change 1405.92% 63.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.1M -18.80M
YoY Change -345.95% -289.9%
NET CHANGE
Cash From Operating Activities 39.60M 64.20M
Cash From Investing Activities -228.9M -20.10M
Cash From Financing Activities 100.1M -18.80M
Net Change In Cash -89.20M 25.30M
YoY Change 447.24% 169.15%
FREE CASH FLOW
Cash From Operating Activities $39.60M $64.20M
Capital Expenditures $44.10M $18.20M
Free Cash Flow -$4.500M $46.00M
YoY Change -118.67% -11600.0%

Facts In Submission

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7300000
CY2023Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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3100000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
735200000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
458100000
CY2022Q2 us-gaap Profit Loss
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CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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CY2022Q2 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
447100000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
24300000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
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CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q4 us-gaap Profit Loss
ProfitLoss
24700000
CY2022Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
25900000
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
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CY2022Q4 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
501500000
CY2023Q3 mod Number Of Coatings Facilities Sold
NumberOfCoatingsFacilitiesSold
2
CY2023Q3 mod Number Of Coatings Facilities Sold
NumberOfCoatingsFacilitiesSold
2
CY2023Q3 mod Number Of Coatings Facilities Sold
NumberOfCoatingsFacilitiesSold
2
CY2023Q4 mod Number Of Automotive Businesses Sold
NumberOfAutomotiveBusinessesSold
3
CY2023Q4 mod Number Of Automotive Businesses Sold
NumberOfAutomotiveBusinessesSold
3
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
14700000
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
19300000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
79200000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
21500000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
57700000
CY2023Q4 us-gaap Share Based Compensation
ShareBasedCompensation
3100000
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
7700000
us-gaap Share Based Compensation
ShareBasedCompensation
5000000
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
22100000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2023Q4 us-gaap Severance Costs1
SeveranceCosts1
700000
CY2022Q4 us-gaap Severance Costs1
SeveranceCosts1
0
us-gaap Severance Costs1
SeveranceCosts1
800000
us-gaap Severance Costs1
SeveranceCosts1
1400000
CY2023Q4 us-gaap Other Restructuring Costs
OtherRestructuringCosts
900000
CY2022Q4 us-gaap Other Restructuring Costs
OtherRestructuringCosts
100000
us-gaap Other Restructuring Costs
OtherRestructuringCosts
1300000
us-gaap Other Restructuring Costs
OtherRestructuringCosts
800000
CY2023Q4 us-gaap Restructuring Charges
RestructuringCharges
1600000
CY2022Q4 us-gaap Restructuring Charges
RestructuringCharges
100000
us-gaap Restructuring Charges
RestructuringCharges
2200000
CY2023Q3 us-gaap Restructuring Reserve
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3200000
CY2022Q3 us-gaap Restructuring Reserve
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12900000
CY2023Q4 us-gaap Restructuring Reserve Accrual Adjustment1
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700000
CY2022Q4 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
0
CY2023Q4 us-gaap Payments For Restructuring
PaymentsForRestructuring
1000000
CY2022Q4 us-gaap Payments For Restructuring
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1900000
CY2023Q4 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-100000
CY2022Q4 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
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CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
3000000
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
12200000
CY2023Q1 us-gaap Restructuring Reserve
RestructuringReserve
10600000
CY2022Q1 us-gaap Restructuring Reserve
RestructuringReserve
20200000
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
800000
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
1400000
us-gaap Payments For Restructuring
PaymentsForRestructuring
5900000
us-gaap Payments For Restructuring
PaymentsForRestructuring
8600000
us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
-2500000
us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
0
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
0
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
800000
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
3000000
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
12200000
CY2023Q4 mod Number Of Automotive Businesses Sold
NumberOfAutomotiveBusinessesSold
3
CY2023Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
1400000
CY2022Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
300000
us-gaap Investment Income Interest
InvestmentIncomeInterest
3100000
us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2023Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1100000
CY2022Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-300000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1600000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2023Q4 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
800000
CY2022Q4 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
400000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2500000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1400000
CY2023Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-500000
CY2022Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-400000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4100000
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.186
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.256
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.216
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.238
CY2023Q4 us-gaap Income Tax Reconciliation Disposition Of Business
IncomeTaxReconciliationDispositionOfBusiness
-3100000
CY2023Q4 mod Number Of Automotive Businesses Sold
NumberOfAutomotiveBusinessesSold
3
CY2023Q3 mod Effective Income Tax Rate Reconciliation Release Of Unrecognized Tax Benefit Due To Lapse In Statute Of Limitations Amount
EffectiveIncomeTaxRateReconciliationReleaseOfUnrecognizedTaxBenefitDueToLapseInStatuteOfLimitationsAmount
-1800000
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
44400000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
24500000
us-gaap Net Income Loss
NetIncomeLoss
135700000
us-gaap Net Income Loss
NetIncomeLoss
63200000
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52300000
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52300000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52400000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52200000
CY2023Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
900000
CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
600000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
800000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
500000
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53200000
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52900000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53200000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52700000
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.21
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.83
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.2
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2023Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
67100000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
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CY2023Q1 us-gaap Restricted Cash
RestrictedCash
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
151200000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67200000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4200000
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
2700000
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
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CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
207700000
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
218300000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
55400000
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
49900000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
78200000
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
56700000
CY2023Q4 us-gaap Inventory Net
InventoryNet
341300000
CY2023Q1 us-gaap Inventory Net
InventoryNet
324900000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1239900000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
922600000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
960300000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
317300000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
314500000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3900000
CY2023Q1 us-gaap Goodwill
Goodwill
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us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
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us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
800000
CY2023Q4 us-gaap Goodwill
Goodwill
166700000
CY2023Q3 mod Number Of Coatings Facilities Sold
NumberOfCoatingsFacilitiesSold
2
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
58400000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
133000000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
51900000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
81100000
CY2023Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2100000
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7000000
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
10300000
CY2022Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
6200000
CY2023Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1600000
CY2022Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
900000
CY2023Q4 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
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CY2022Q4 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-300000
CY2023Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1400000
CY2022Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1400000
CY2023Q4 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-300000
CY2022Q4 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-300000
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
10400000
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
5700000
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
6900000
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
6300000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4700000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3800000
mod Standard Product Warranty Accrual Disposition Of Businesses
StandardProductWarrantyAccrualDispositionOfBusinesses
200000
mod Standard Product Warranty Accrual Disposition Of Businesses
StandardProductWarrantyAccrualDispositionOfBusinesses
0
us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-200000
us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
200000
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
10400000
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
5700000
CY2023Q4 mod Number Of Automotive Businesses Sold
NumberOfAutomotiveBusinessesSold
3
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
71600000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
59100000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
6800000
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
7100000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
13000000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11800000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
59800000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
48900000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
400000
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
400000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2000000
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2300000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3600000
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3200000
CY2023Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
6100000
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
5200000
us-gaap Operating Lease Cost
OperatingLeaseCost
17600000
us-gaap Operating Lease Cost
OperatingLeaseCost
16000000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
100000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
100000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
400000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
400000
CY2023Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0
CY2022Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000
CY2023Q4 us-gaap Lease Cost
LeaseCost
6200000
CY2022Q4 us-gaap Lease Cost
LeaseCost
5300000
us-gaap Lease Cost
LeaseCost
18100000
us-gaap Lease Cost
LeaseCost
16500000
CY2023Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1400000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4300000
CY2022Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1400000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4200000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
560000000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
560000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1804300000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1679800000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
335600000
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
351700000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
19700000
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
19700000
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2400000
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2700000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
313500000
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
329300000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2800000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
19700000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
44800000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
44800000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
198000000
CY2023Q4 mod Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
25500000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
335600000
CY2023Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
18300000
CY2023Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
17600000
CY2023Q4 us-gaap Accrual For Environmental Loss Contingencies Period Increase Decrease
AccrualForEnvironmentalLossContingenciesPeriodIncreaseDecrease
1000000
CY2023Q4 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
19900000
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
6200000
CY2023Q4 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
500000
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
700000
CY2023Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
19900000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
7300000
CY2022Q4 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
23800000
us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
-24300000
CY2022Q4 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
200000
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
200000
CY2022Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
25300000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-20500000
CY2023Q4 mod Number Of Automotive Businesses Sold
NumberOfAutomotiveBusinessesSold
3
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
561400000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
560000000
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
561400000
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
561400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1804300000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1804300000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1679800000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1679800000
CY2023Q4 us-gaap Gross Profit
GrossProfit
127300000
CY2023Q4 mod Gross Profit As Percentage Of Sales
GrossProfitAsPercentageOfSales
0.227
CY2022Q4 us-gaap Gross Profit
GrossProfit
97600000
CY2022Q4 mod Gross Profit As Percentage Of Sales
GrossProfitAsPercentageOfSales
0.174
us-gaap Gross Profit
GrossProfit
390300000
mod Gross Profit As Percentage Of Sales
GrossProfitAsPercentageOfSales
0.216
us-gaap Gross Profit
GrossProfit
277200000
mod Gross Profit As Percentage Of Sales
GrossProfitAsPercentageOfSales
0.165
CY2023Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
61700000
CY2022Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
39500000
us-gaap Operating Income Loss
OperatingIncomeLoss
193900000
us-gaap Operating Income Loss
OperatingIncomeLoss
101900000
CY2023Q4 us-gaap Assets
Assets
1651400000
CY2023Q1 us-gaap Assets
Assets
1565900000
CY2023Q4 mod Number Of Automotive Businesses Sold
NumberOfAutomotiveBusinessesSold
3
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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mod-20231231_pre.xml Edgar Link unprocessable
0001140361-24-004740-index-headers.html Edgar Link pending
0001140361-24-004740-index.html Edgar Link pending
0001140361-24-004740.txt Edgar Link pending
0001140361-24-004740-xbrl.zip Edgar Link pending
ef20015366_10q.htm Edgar Link pending
ef20015366_ex31-1.htm Edgar Link pending
ef20015366_ex31-2.htm Edgar Link pending
ef20015366_ex32-1.htm Edgar Link pending
ef20015366_ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mod-20231231.xsd Edgar Link pending
mod-20231231_cal.xml Edgar Link unprocessable
mod-20231231_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
ef20015366_10q_htm.xml Edgar Link completed
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mod-20231231_lab.xml Edgar Link unprocessable
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