2012 Q2 Form 10-Q Financial Statement

#000110465912055179 Filed on August 07, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $993.1M $939.8M
YoY Change 5.67% 14.71%
Cost Of Revenue $746.0M $726.2M
YoY Change 2.73% 18.45%
Gross Profit $253.1M $221.7M
YoY Change 14.16% 7.52%
Gross Profit Margin 25.49% 23.59%
Selling, General & Admin $149.6M $145.4M
YoY Change 2.89% 16.79%
% of Gross Profit 59.11% 65.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.70M $28.40M
YoY Change -9.51% -15.98%
% of Gross Profit 10.15% 12.81%
Operating Expenses $159.0M $155.0M
YoY Change 2.58% 15.5%
Operating Profit $92.00M $66.70M
YoY Change 37.93% -7.36%
Interest Expense $33.80M -$40.90M
YoY Change -182.64% -15.5%
% of Operating Profit 36.74% -61.32%
Other Income/Expense, Net -$33.90M $200.0K
YoY Change -17050.0% -103.64%
Pretax Income $62.30M $1.600M
YoY Change 3793.75% -90.48%
Income Tax $15.50M -$400.0K
% Of Pretax Income 24.88% -25.0%
Net Earnings $43.00M $1.600M
YoY Change 2587.5% -88.65%
Net Earnings / Revenue 4.33% 0.17%
Basic Earnings Per Share $0.35 $0.02
Diluted Earnings Per Share $0.34 $0.02
COMMON SHARES
Basic Shares Outstanding 130.6M shares
Diluted Shares Outstanding 133.4M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.40M $83.80M
YoY Change -29.12% -28.74%
Cash & Equivalents $56.80M $81.10M
Short-Term Investments $2.600M $2.700M
Other Short-Term Assets $228.3M $189.9M
YoY Change 20.22% -15.41%
Inventory $808.6M $734.9M
Prepaid Expenses
Receivables $326.3M $427.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.423B $1.436B
YoY Change -0.96% 5.75%
LONG-TERM ASSETS
Property, Plant & Equipment $555.8M $555.0M
YoY Change 0.14% -7.5%
Goodwill $1.158B
YoY Change
Intangibles $826.3M
YoY Change
Long-Term Investments
YoY Change
Other Assets $149.1M $95.60M
YoY Change 55.96% -18.91%
Total Long-Term Assets $2.689B $2.718B
YoY Change -1.06% -5.71%
TOTAL ASSETS
Total Short-Term Assets $1.423B $1.436B
Total Long-Term Assets $2.689B $2.718B
Total Assets $4.112B $4.154B
YoY Change -1.02% -2.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $481.5M $510.3M
YoY Change -5.64% 14.47%
Accrued Expenses $312.2M $304.7M
YoY Change 2.46% -10.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $116.6M $103.2M
YoY Change 12.98% -28.43%
Total Short-Term Liabilities $1.107B $1.155B
YoY Change -4.14% -0.46%
LONG-TERM LIABILITIES
Long-Term Debt $1.946B $1.978B
YoY Change -1.61% -4.11%
Other Long-Term Liabilities $344.4M $317.0M
YoY Change 8.64% 10.96%
Total Long-Term Liabilities $2.506B $2.295B
YoY Change 9.21% -2.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.107B $1.155B
Total Long-Term Liabilities $2.506B $2.295B
Total Liabilities $3.613B $3.658B
YoY Change -1.23% -1.87%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 30.87M shares
Shareholders Equity $512.5M $495.8M
YoY Change
Total Liabilities & Shareholders Equity $4.112B $4.154B
YoY Change -1.02% -2.04%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $43.00M $1.600M
YoY Change 2587.5% -88.65%
Depreciation, Depletion And Amortization $25.70M $28.40M
YoY Change -9.51% -15.98%
Cash From Operating Activities $8.100M -$33.00M
YoY Change -124.55% -141.3%
INVESTING ACTIVITIES
Capital Expenditures -$20.50M -$11.00M
YoY Change 86.36% 71.88%
Acquisitions
YoY Change
Other Investing Activities -$3.000M $2.400M
YoY Change -225.0% 84.62%
Cash From Investing Activities -$23.50M -$8.600M
YoY Change 173.26% 68.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.300M 50.00M
YoY Change -93.4% -182.78%
NET CHANGE
Cash From Operating Activities 8.100M -33.00M
Cash From Investing Activities -23.50M -8.600M
Cash From Financing Activities 3.300M 50.00M
Net Change In Cash -12.10M 8.400M
YoY Change -244.05% -41.67%
FREE CASH FLOW
Cash From Operating Activities $8.100M -$33.00M
Capital Expenditures -$20.50M -$11.00M
Free Cash Flow $28.60M -$22.00M
YoY Change -230.0% -125.49%

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DebtAndCapitalLeaseObligations
2062800000 USD
CY2012Q2 us-gaap Debt Current
DebtCurrent
116600000 USD
CY2012Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1946200000 USD
mtw Debt Instrument Number Of Loan Facilities Included With Senior Credit Facility
DebtInstrumentNumberOfLoanFacilitiesIncludedWithSeniorCreditFacility
4 facility
mtw Debt Instrument Number Of Loan Facilities Included With Senior Credit Facility
DebtInstrumentNumberOfLoanFacilitiesIncludedWithSeniorCreditFacility
3 facility
mtw Debt Instrument Number Of Senior Notes Outstanding
DebtInstrumentNumberOfSeniorNotesOutstanding
3 note
mtw Senior Notes Default Redemption Minimum Principal As Percentage Of Principal Outstanding
SeniorNotesDefaultRedemptionMinimumPrincipalAsPercentageOfPrincipalOutstanding
0.25 pure
mtw Derivative Early Termination Senior Notes
DerivativeEarlyTerminationSeniorNotes
5
CY2011 us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
121100000 USD
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
124300000 USD
CY2011Q4 mtw Fair Value Of Deferred Purchase Price Notes
FairValueOfDeferredPurchasePriceNotes
40300000 USD
CY2012Q2 mtw Fair Value Of Deferred Purchase Price Notes
FairValueOfDeferredPurchasePriceNotes
76900000 USD
mtw Accounts Receivable Securitization Financial Covenants Compliance Period
AccountsReceivableSecuritizationFinancialCovenantsCompliancePeriod
12
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2012Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
55800000 USD
CY2011Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
45800000 USD
CY2011Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3365463 shares
CY2012Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2816914 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2989874 shares
CY2012Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2012Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3500000 shares
CY2012Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
10000000 shares
CY2012Q2 mtw Stock Repurchase Program Shares Acquired
StockRepurchaseProgramSharesAcquired
7600000 shares
CY2012Q2 mtw Stock Repurchase Program Shares Acquired At Cost
StockRepurchaseProgramSharesAcquiredAtCost
49800000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8400000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8600000 USD
CY2012Q2 mtw Product Liability Self Insurance Retention Levels Fluctuation Period
ProductLiabilitySelfInsuranceRetentionLevelsFluctuationPeriod
5
CY2012Q2 us-gaap Litigation Reserve Current
LitigationReserveCurrent
27000000 USD
CY2012Q2 mtw Litigation Reserve Current For Actual Cases
LitigationReserveCurrentForActualCases
5700000 USD
CY2012Q2 mtw Litigation Reserve Current For Incurred But Not Reported Cases
LitigationReserveCurrentForIncurredButNotReportedCases
21300000 USD
CY2011Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
104400000 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
102100000 USD
CY2011Q4 us-gaap Deferred Revenue
DeferredRevenue
61200000 USD
CY2012Q2 us-gaap Deferred Revenue
DeferredRevenue
56300000 USD
CY2011Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
89500000 USD
CY2012Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
74900000 USD
mtw Standard Product Warranty Period Low End Of Range
StandardProductWarrantyPeriodLowEndOfRange
12
mtw Standard Product Warranty Period High End Of Range
StandardProductWarrantyPeriodHighEndOfRange
60
CY2010Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
99900000 USD
CY2011 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
66800000 USD
CY2011 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
62300000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
31400000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
32600000 USD
us-gaap Standard Product Warranty Accrual Currency Translation Increase Decrease
StandardProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-1100000 USD
mtw Reporting Segments Number
ReportingSegmentsNumber
2 segment

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