2023 Q1 Form 10-Q Financial Statement

#000007233123000045 Filed on February 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $610.5M $683.6M
YoY Change 0.22% 14.07%
Cost Of Revenue $281.6M $320.4M
YoY Change 4.68% 19.51%
Gross Profit $328.9M $363.2M
YoY Change -3.31% 9.67%
Gross Profit Margin 53.87% 53.13%
Selling, General & Admin $184.6M $185.6M
YoY Change 0.2% 3.26%
% of Gross Profit 56.15% 51.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.43M $24.68M
YoY Change 4.11% 90.73%
% of Gross Profit 8.04% 6.8%
Operating Expenses $184.6M $185.6M
YoY Change 0.2% 3.26%
Operating Profit $144.2M $177.6M
YoY Change -7.47% 17.28%
Interest Expense $10.53M -$5.095M
YoY Change 86.37% 14.44%
% of Operating Profit 7.3% -2.87%
Other Income/Expense, Net -$13.14M $5.026M
YoY Change 237.5% -173.12%
Pretax Income $131.1M $177.5M
YoY Change -13.74% 26.72%
Income Tax $26.82M $36.29M
% Of Pretax Income 20.46% 20.44%
Net Earnings $104.3M $141.2M
YoY Change -13.41% 27.87%
Net Earnings / Revenue 17.08% 20.66%
Basic Earnings Per Share $1.82
Diluted Earnings Per Share $1.81 $2.443M
COMMON SHARES
Basic Shares Outstanding 57.17M shares 57.16M shares
Diluted Shares Outstanding 57.76M shares

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $122.0M $163.5M
YoY Change -28.47% -45.51%
Cash & Equivalents $122.0M $163.5M
Short-Term Investments
Other Short-Term Assets $62.05M $48.80M
YoY Change 20.26% 1.08%
Inventory $447.7M $383.4M
Prepaid Expenses
Receivables $668.6M $537.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.178B $1.133B
YoY Change 11.78% -2.74%
LONG-TERM ASSETS
Property, Plant & Equipment $472.8M $353.4M
YoY Change -0.11% -0.6%
Goodwill $2.107B $1.805B
YoY Change 14.74% 5.34%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $89.24M $529.3M
YoY Change 14.32% 580.2%
Total Long-Term Assets $3.059B $2.687B
YoY Change 10.01% 2.33%
TOTAL ASSETS
Total Short-Term Assets $1.178B $1.133B
Total Long-Term Assets $3.059B $2.687B
Total Assets $4.237B $3.820B
YoY Change 10.49% 0.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.60M $441.7M
YoY Change -6.11% 381.7%
Accrued Expenses $156.9M $206.8M
YoY Change -1.5% 2.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $420.9M $392.5M
YoY Change 1132.68% 1048.17%
Total Short-Term Liabilities $825.5M $834.2M
YoY Change 92.21% 87.3%
LONG-TERM LIABILITIES
Long-Term Debt $595.2M $345.3M
YoY Change -23.02% -55.82%
Other Long-Term Liabilities $38.64M $346.5M
YoY Change -3.95% 757.7%
Total Long-Term Liabilities $633.8M $691.8M
YoY Change -22.08% -15.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $825.5M $834.2M
Total Long-Term Liabilities $633.8M $691.8M
Total Liabilities $1.459B $1.526B
YoY Change 17.41% 20.39%
SHAREHOLDERS EQUITY
Retained Earnings $3.719B $3.652B
YoY Change 10.83% 11.86%
Common Stock $653.1M $639.0M
YoY Change 6.88% 6.92%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.794B $1.789B
YoY Change 14.86% 17.11%
Treasury Stock Shares
Shareholders Equity $2.447B $2.294B
YoY Change
Total Liabilities & Shareholders Equity $4.237B $3.820B
YoY Change 10.49% 0.78%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $104.3M $141.2M
YoY Change -13.41% 27.87%
Depreciation, Depletion And Amortization $26.43M $24.68M
YoY Change 4.11% 90.73%
Cash From Operating Activities $123.3M $173.4M
YoY Change 4.45% 1.74%
INVESTING ACTIVITIES
Capital Expenditures $9.302M -$12.06M
YoY Change -25.53% 17.84%
Acquisitions $377.8M
YoY Change 120.17%
Other Investing Activities -$377.8M -$135.0K
YoY Change 120.18% -332.76%
Cash From Investing Activities -$387.1M -$12.19M
YoY Change 110.29% 19.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.932M -$25.82M
YoY Change -106.6%
Debt Paid & Issued, Net $314.7M
YoY Change 19349.94%
Cash From Financing Activities $215.7M -121.6M
YoY Change -448.44% 249.52%
NET CHANGE
Cash From Operating Activities $123.3M 173.4M
Cash From Investing Activities -$387.1M -12.19M
Cash From Financing Activities $215.7M -121.6M
Net Change In Cash -$41.46M 39.66M
YoY Change -67.97% -68.4%
FREE CASH FLOW
Cash From Operating Activities $123.3M $173.4M
Capital Expenditures $9.302M -$12.06M
Free Cash Flow $114.0M $185.5M
YoY Change 7.99% 2.65%

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CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12491000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
7000 usd
CY2023Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
377843000 usd
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
171613000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-387136000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-184097000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
566978000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
361000 usd
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
314700000 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1618000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1318000 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1640000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8807000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5721000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6875000 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
35002000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
37199000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
29724000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
215693000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-61902000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6643000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1521000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-41463000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-129433000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
163457000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
299972000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121994000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
170539000 usd
CY2023Q1 ndsn Less Than50 Ownership Percentage Accounted For Under The Equity Method Of Investment
LessThan50OwnershipPercentageAccountedForUnderTheEquityMethodOfInvestment
0.50
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Use of estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.  The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements.  Actual amounts could differ from these estimates.</span>
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
9148000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
8218000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
348000 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
471000 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
256243000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
218491000 usd
CY2023Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
191185000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
157447000 usd
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
57917000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
53195000 usd
CY2023Q1 us-gaap Inventory Gross
InventoryGross
505345000 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
429133000 usd
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
57618000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
45735000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
447727000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
383398000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
931007000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
902541000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
569560000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
549099000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
361447000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
353442000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
12562000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
12305000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
1804693000 usd
CY2023Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
279630000 usd
CY2023Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
22790000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
2107113000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
801285000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
423450000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
377835000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
731065000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
401663000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
329402000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13872000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13085000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
900000 shares
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.205
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.208
CY2023Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1166000 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1115000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
195000 usd
CY2023Q1 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
576000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
76821000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2005000 shares
CY2023Q1 ndsn Products Warranty Period
ProductsWarrantyPeriod
P1Y
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
11723000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
11113000 usd
CY2023Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4809000 usd
CY2022Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3865000 usd
CY2023Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3186000 usd
CY2022Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3051000 usd
CY2023Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
215000 usd
CY2022Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-10000 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
13561000 usd
CY2022Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
11917000 usd
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
610477000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
609166000 usd
CY2023Q1 ndsn Deferred Compensation Arrangement With Individual Employee Contribution Percentage Maximum
DeferredCompensationArrangementWithIndividualEmployeeContributionPercentageMaximum
1
CY2023Q1 ndsn Deferred Compensation Arrangement With Individual Employee Contribution Percentage Of Long Term Incentive Compensation Maximum
DeferredCompensationArrangementWithIndividualEmployeeContributionPercentageOfLongTermIncentiveCompensationMaximum
0.90
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
1016113000 usd
CY2023Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1003337000 usd
CY2023Q1 ndsn Foreign Currency Forward Contracts Maturity Period Maximum
ForeignCurrencyForwardContractsMaturityPeriodMaximum
P90D
CY2023Q1 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
16139000 usd
CY2023Q1 ndsn Change In Unrealized Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
ChangeInUnrealizedGainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-20710000 usd
CY2022Q1 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-3598000 usd
CY2022Q1 ndsn Change In Unrealized Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
ChangeInUnrealizedGainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
3962000 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
2453000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
0 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1017233000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
738822000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
420947000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
392537000 usd
CY2023Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
1120000 usd
CY2022Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
965000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
595166000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
345320000 usd
CY2023Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
266000 usd
CY2022Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
266000 usd

Files In Submission

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0000072331-23-000045-xbrl.zip Edgar Link pending
exhibit101.htm Edgar Link pending
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ndsn-20230131_htm.xml Edgar Link completed
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