2013 Q4 Form 10-Q Financial Statement

#000119312513434620 Filed on November 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $1.264B $845.5M $723.5M
YoY Change 71.66% 16.87% 7.85%
Cost Of Revenue $1.005B $617.8M $560.9M
YoY Change 78.92% 10.15% 5.22%
Gross Profit $259.4M $227.6M $162.9M
YoY Change 51.86% 39.7% 18.28%
Gross Profit Margin 20.52% 26.92% 22.52%
Selling, General & Admin $100.0M $77.10M $51.53M
YoY Change 79.53% 49.62% 5.35%
% of Gross Profit 38.55% 33.87% 31.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.50M $42.40M $42.90M
YoY Change 69.83% -1.17% 4.38%
% of Gross Profit 31.03% 18.63% 26.33%
Operating Expenses $99.70M $77.10M $51.53M
YoY Change 68.13% 49.62% 5.35%
Operating Profit $122.9M $142.8M $91.89M
YoY Change 29.51% 55.4% 29.1%
Interest Expense -$28.00M -$11.85M -$30.59M
YoY Change 5.26% -61.26% 356.57%
% of Operating Profit -22.78% -8.3% -33.29%
Other Income/Expense, Net
YoY Change
Pretax Income $95.00M $130.9M $61.48M
YoY Change 6.74% 112.96% -4.61%
Income Tax -$133.1M $46.25M $21.69M
% Of Pretax Income -140.11% 35.32% 35.28%
Net Earnings $228.1M $84.70M $39.68M
YoY Change 287.4% 113.45% -5.02%
Net Earnings / Revenue 18.04% 10.02% 5.48%
Basic Earnings Per Share $2.36 $0.88 $0.41
Diluted Earnings Per Share $2.34 $0.87 $0.41
COMMON SHARES
Basic Shares Outstanding 98.08M shares 96.76M shares 96.36M shares
Diluted Shares Outstanding 97.60M shares 97.35M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $191.0M $396.6M $140.9M
YoY Change -7.91% 181.48% 251.37%
Cash & Equivalents $191.0M $396.6M $140.9M
Short-Term Investments
Other Short-Term Assets $79.60M $53.30M $60.90M
YoY Change 84.26% -12.48% 29.85%
Inventory $594.3M $266.9M $260.8M
Prepaid Expenses
Receivables $643.1M $409.7M $379.7M
Other Receivables $23.00M $9.400M $82.60M
Total Short-Term Assets $1.531B $1.136B $924.8M
YoY Change 56.51% 22.83% 38.06%
LONG-TERM ASSETS
Property, Plant & Equipment $2.806B $1.369B $1.376B
YoY Change 105.38% -0.54% -4.04%
Goodwill $546.8M $67.16M $71.56M
YoY Change 713.69% -6.14%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $69.70M $49.23M $47.55M
YoY Change 54.13% 3.53% -16.29%
Total Long-Term Assets $3.665B $1.521B $1.530B
YoY Change 141.66% -0.6% -2.08%
TOTAL ASSETS
Total Short-Term Assets $1.531B $1.136B $924.8M
Total Long-Term Assets $3.665B $1.521B $1.530B
Total Assets $5.196B $2.657B $2.455B
YoY Change 108.27% 8.23% 9.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $357.5M $163.9M $147.3M
YoY Change 204.23% 11.28% -16.63%
Accrued Expenses $214.1M $129.6M $114.8M
YoY Change 74.5% 12.91% -0.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $39.00M $15.00M $15.00M
YoY Change 160.0% 0.0% -86.33%
Total Short-Term Liabilities $660.6M $353.9M $307.3M
YoY Change 151.89% 15.18% -27.19%
LONG-TERM LIABILITIES
Long-Term Debt $2.509B $767.4M $782.4M
YoY Change 222.21% -1.91% 37.09%
Other Long-Term Liabilities $65.40M $33.66M $28.82M
YoY Change 123.75% 16.82% -89.19%
Total Long-Term Liabilities $3.226B $1.204B $1.208B
YoY Change 163.5% -0.31% 44.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $660.6M $353.9M $307.3M
Total Long-Term Liabilities $3.226B $1.204B $1.208B
Total Liabilities $3.887B $1.558B $1.515B
YoY Change 161.45% 2.83% 20.32%
SHAREHOLDERS EQUITY
Retained Earnings $1.019B $787.7M $670.2M
YoY Change 37.25% 17.53%
Common Stock $402.7M $397.5M $371.9M
YoY Change 6.04% 6.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.357B $1.099B $940.1M
YoY Change
Total Liabilities & Shareholders Equity $5.244B $2.657B $2.455B
YoY Change 110.18% 8.23% 9.96%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $228.1M $84.70M $39.68M
YoY Change 287.4% 113.45% -5.02%
Depreciation, Depletion And Amortization $80.50M $42.40M $42.90M
YoY Change 69.83% -1.17% 4.38%
Cash From Operating Activities $188.0M $137.2M $101.8M
YoY Change 23.36% 34.77% 42.18%
INVESTING ACTIVITIES
Capital Expenditures -$104.6M -$49.80M -$24.70M
YoY Change 207.65% 101.62% -66.71%
Acquisitions
YoY Change
Other Investing Activities -$1.174B $200.0K $0.00
YoY Change -1174400.0% -100.0%
Cash From Investing Activities -$1.279B -$49.60M -$24.60M
YoY Change 3661.47% 101.63% -70.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 885.2M -60.90M -451.4M
YoY Change -1805.59% -86.51% 566.77%
NET CHANGE
Cash From Operating Activities 188.0M 137.2M 101.8M
Cash From Investing Activities -1.279B -49.60M -24.60M
Cash From Financing Activities 885.2M -60.90M -451.4M
Net Change In Cash -205.7M 26.70M -374.2M
YoY Change -409.32% -107.14% 373.67%
FREE CASH FLOW
Cash From Operating Activities $188.0M $137.2M $101.8M
Capital Expenditures -$104.6M -$49.80M -$24.70M
Free Cash Flow $292.6M $187.0M $126.5M
YoY Change 56.97% 47.83% -13.24%

Facts In Submission

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dei Document Type
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<div> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>1. Basis of Presentation</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The condensed consolidated financial statements of Packaging Corporation of America (&#x201C;PCA&#x201D; or the &#x201C;Company&#x201D;) as of September&#xA0;30, 2013 and 2012 and for the three- and nine-month periods ended are unaudited but include all adjustments (consisting only of normal recurring adjustments) that management considers necessary for a fair presentation of such financial statements. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with Article&#xA0;10 of SEC Regulation&#xA0;S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete audited financial statements. Operating results for the period ended September&#xA0;30, 2013 are not necessarily indicative of the results that may be expected for the year ending December&#xA0;31, 2013. These condensed consolidated financial statements should be read in conjunction with PCA&#x2019;s Annual Report on Form&#xA0;10-K for the year ended December&#xA0;31, 2012.</p> </div>
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2013-05-01
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2014-10-19
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pkg Mill Production Capacity
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Repayments Of Long Term Debt And Capital Securities
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Payments Of Financing Costs
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us-gaap Gross Profit
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Income Loss
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102789000
us-gaap Increase Decrease In Inventories
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4217000
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Cost Of Goods Sold
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Share Based Compensation
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25000
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pkg Alternative Fuel Mixture Credits
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72436000
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CY2010Q4 us-gaap Loss Contingency Parties Jointly And Severally Liable In Litigation
LossContingencyPartiesJointlyAndSeverallyLiableInLitigation
PCA and eight other U.S. and Canadian containerboard producers were named as defendants
CY2013Q2 us-gaap Defined Benefit Plan Benefit Obligation Period Increase Decrease
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13800000
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5400000
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8400000
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CY2012Q3 us-gaap Allocated Share Based Compensation Expense
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CY2013Q3 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
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AllocatedShareBasedCompensationExpenseNetOfTax
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CY2013Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2013Q3 pkg Corporate Overhead
CorporateOverhead
21143000

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