$NDSN
NORDSON CORP

2019 Q2 Form 10-Q Financial Statement

#000156459019021843 Filed on June 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $551.1M $553.7M
YoY Change -0.47% 11.6%
Cost Of Revenue $249.6M $246.7M
YoY Change 1.18% 11.83%
Gross Profit $301.5M $307.0M
YoY Change -1.79% 11.43%
Gross Profit Margin 54.71% 55.45%
Selling, General & Admin $172.6M $178.1M
YoY Change -3.09% 3.85%
% of Gross Profit 57.24% 58.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.80M $27.40M
YoY Change 1.46% 31.1%
% of Gross Profit 9.22% 8.92%
Operating Expenses $172.6M $178.1M
YoY Change -3.09% 3.85%
Operating Profit $128.9M $128.9M
YoY Change 0.0% 24.5%
Interest Expense $12.37M $12.13M
YoY Change 2.02% 53.37%
% of Operating Profit 9.6% 9.41%
Other Income/Expense, Net -$568.0K $1.135M
YoY Change -150.04% -149.35%
Pretax Income $116.3M $118.1M
YoY Change -1.56% 24.86%
Income Tax $24.40M $26.90M
% Of Pretax Income 20.98% 22.77%
Net Earnings $91.92M $91.24M
YoY Change 0.75% 41.4%
Net Earnings / Revenue 16.68% 16.48%
Basic Earnings Per Share $1.60 $1.57
Diluted Earnings Per Share $1.58 $1.55
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.2M $155.9M
YoY Change -4.3% 76.36%
Cash & Equivalents $149.2M $155.9M
Short-Term Investments
Other Short-Term Assets $45.30M $31.30M
YoY Change 44.73% -12.81%
Inventory $280.7M $284.4M
Prepaid Expenses
Receivables $489.7M $512.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $964.9M $984.0M
YoY Change -1.94% 18.72%
LONG-TERM ASSETS
Property, Plant & Equipment $386.3M $359.5M
YoY Change 7.45% 12.35%
Goodwill $1.608B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $45.10M $47.40M
YoY Change -4.85% 52.9%
Total Long-Term Assets $2.510B $2.555B
YoY Change -1.76% 0.19%
TOTAL ASSETS
Total Short-Term Assets $964.9M $984.0M
Total Long-Term Assets $2.510B $2.555B
Total Assets $3.475B $3.539B
YoY Change -1.81% 4.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $93.04M $86.79M
YoY Change 7.21% 1.88%
Accrued Expenses $139.3M $151.3M
YoY Change -7.93% -8.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $153.7M $226.6M
YoY Change -32.15% 64.09%
Total Short-Term Liabilities $446.5M $534.7M
YoY Change -16.49% 17.12%
LONG-TERM LIABILITIES
Long-Term Debt $1.220B $1.312B
YoY Change -7.01% -16.63%
Other Long-Term Liabilities $234.1M $57.80M
YoY Change 305.02% 69.42%
Total Long-Term Liabilities $1.220B $1.370B
YoY Change -10.94% -14.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $446.5M $534.7M
Total Long-Term Liabilities $1.220B $1.370B
Total Liabilities $2.004B $1.905B
YoY Change 5.19% -7.74%
SHAREHOLDERS EQUITY
Retained Earnings $2.326B
YoY Change 15.35%
Common Stock $447.3M
YoY Change 8.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.299B
YoY Change -0.1%
Treasury Stock Shares
Shareholders Equity $1.471B $1.363B
YoY Change
Total Liabilities & Shareholders Equity $3.475B $3.539B
YoY Change -1.81% 4.73%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $91.92M $91.24M
YoY Change 0.75% 41.4%
Depreciation, Depletion And Amortization $27.80M $27.40M
YoY Change 1.46% 31.1%
Cash From Operating Activities $105.1M $103.0M
YoY Change 2.04% 76.98%
INVESTING ACTIVITIES
Capital Expenditures -$12.50M -$16.30M
YoY Change -23.31% -3.55%
Acquisitions
YoY Change
Other Investing Activities $700.0K -$700.0K
YoY Change -200.0% -99.91%
Cash From Investing Activities -$11.80M -$17.10M
YoY Change -30.99% -97.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -31.30M -60.30M
YoY Change -48.09% -108.02%
NET CHANGE
Cash From Operating Activities 105.1M 103.0M
Cash From Investing Activities -11.80M -17.10M
Cash From Financing Activities -31.30M -60.30M
Net Change In Cash 62.00M 25.60M
YoY Change 142.19% -25700.0%
FREE CASH FLOW
Cash From Operating Activities $105.1M $103.0M
Capital Expenditures -$12.50M -$16.30M
Free Cash Flow $117.6M $119.3M
YoY Change -1.42% 58.85%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
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<p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="text-decoration:underline;">Use of estimates</span>.  The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements.  Actual amounts could differ from these estimates.</p>
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0.210
ndsn Tax Cuts And Jobs Act Of2017 Change In Tax Rate Provisional Discrete Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateProvisionalDiscreteIncomeTaxExpenseBenefit
4866000
ndsn Tax Cuts And Jobs Act Of2017 Change In Tax Rate Provisional Discrete Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateProvisionalDiscreteIncomeTaxExpenseBenefit
-22089000
CY2019Q2 ndsn Additional Tax Benefit Related To Share Based Payment Transactions
AdditionalTaxBenefitRelatedToShareBasedPaymentTransactions
2149000
ndsn Additional Tax Benefit Related To Share Based Payment Transactions
AdditionalTaxBenefitRelatedToShareBasedPaymentTransactions
3017000
CY2018Q2 ndsn Additional Tax Benefit Related To Share Based Payment Transactions
AdditionalTaxBenefitRelatedToShareBasedPaymentTransactions
2202000
ndsn Additional Tax Benefit Related To Share Based Payment Transactions
AdditionalTaxBenefitRelatedToShareBasedPaymentTransactions
6950000
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-179314000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
912000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2950000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
7399000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-168965000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
4525
CY2018Q4 us-gaap Longterm Construction Loan Current And Noncurrent
LongtermConstructionLoanCurrentAndNoncurrent
1086000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
31000
ndsn Products Warranty Period
ProductsWarrantyPeriod
P1Y
CY2018Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
12195000
CY2017Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
13377000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4846000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5937000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5258000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
6642000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
227000
CY2019Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
11814000
CY2018Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
12899000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1377797000
CY2018Q2 us-gaap Change In Unrealized Gain Loss On Hedged Item In Foreign Currency Fair Value Hedge1
ChangeInUnrealizedGainLossOnHedgedItemInForeignCurrencyFairValueHedge1
2584000
ndsn Foreign Currency Forward Contracts Maturity Period Maximum
ForeignCurrencyForwardContractsMaturityPeriodMaximum
P90D
CY2019Q2 us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
-1236000
CY2019Q2 us-gaap Change In Unrealized Gain Loss On Hedged Item In Foreign Currency Fair Value Hedge1
ChangeInUnrealizedGainLossOnHedgedItemInForeignCurrencyFairValueHedge1
1863000
CY2018Q2 us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
-1607000
us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
-206000
us-gaap Change In Unrealized Gain Loss On Hedged Item In Foreign Currency Fair Value Hedge1
ChangeInUnrealizedGainLossOnHedgedItemInForeignCurrencyFairValueHedge1
-140000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
128896000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
128892000
us-gaap Operating Income Loss
OperatingIncomeLoss
213177000
us-gaap Operating Income Loss
OperatingIncomeLoss
248242000
CY2019Q2 us-gaap Interest Expense
InterestExpense
12372000
CY2018Q2 us-gaap Interest Expense
InterestExpense
12127000
us-gaap Interest Expense
InterestExpense
24738000
us-gaap Interest Expense
InterestExpense
23445000
CY2019Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
325000
CY2018Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
219000
us-gaap Investment Income Interest
InvestmentIncomeInterest
642000
us-gaap Investment Income Interest
InvestmentIncomeInterest
509000
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-568000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1135000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4757000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3669000
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
116281000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
118119000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
184324000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
221637000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
551119000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
553706000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1049029000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1104130000
ndsn Deferred Compensation Arrangement With Individual Employee Contribution Percentage Maximum
DeferredCompensationArrangementWithIndividualEmployeeContributionPercentageMaximum
1
ndsn Deferred Compensation Arrangement With Individual Employee Contribution Percentage Of Long Term Incentive Compensation Maximum
DeferredCompensationArrangementWithIndividualEmployeeContributionPercentageOfLongTermIncentiveCompensationMaximum
0.90
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
1374125000
CY2019Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1381087000
us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
-2571000
us-gaap Change In Unrealized Gain Loss On Hedged Item In Foreign Currency Fair Value Hedge1
ChangeInUnrealizedGainLossOnHedgedItemInForeignCurrencyFairValueHedge1
1602000
CY2018Q4 us-gaap Line Of Credit
LineOfCredit
52200000
CY2019Q2 us-gaap Unsecured Debt
UnsecuredDebt
36111000
CY2018Q4 us-gaap Unsecured Debt
UnsecuredDebt
36111000
CY2019Q2 us-gaap Longterm Construction Loan Current And Noncurrent
LongtermConstructionLoanCurrentAndNoncurrent
1019000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1318064000
CY2019Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
153734000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
28734000
CY2019Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
3672000
CY2018Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
3973000
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1220391000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1285357000

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