$REZI
RESIDEO TECHNOLOGIES, INC.

2020 Q3 Form 10-Q Financial Statement

#000156459020050926 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $1.362B $1.226B
YoY Change 11.09% 2.17%
Cost Of Revenue $992.0M $937.0M
YoY Change 5.87% 9.85%
Gross Profit $370.0M $309.0M
YoY Change 19.74% -10.95%
Gross Profit Margin 27.17% 25.2%
Selling, General & Admin $221.0M $230.0M
YoY Change -3.91% 5.02%
% of Gross Profit 59.73% 74.43%
Research & Development $18.00M
YoY Change
% of Gross Profit 4.86%
Depreciation & Amortization $22.00M $19.00M
YoY Change 15.79% 18.75%
% of Gross Profit 5.95% 6.15%
Operating Expenses $239.0M $230.0M
YoY Change 3.91% 5.02%
Operating Profit $131.0M $59.00M
YoY Change 122.03% -53.91%
Interest Expense $14.00M $16.00M
YoY Change -12.5% 700.0%
% of Operating Profit 10.69% 27.12%
Other Income/Expense, Net $3.000M $0.00
YoY Change -100.0%
Pretax Income $82.00M $8.000M
YoY Change 925.0% -144.44%
Income Tax $7.000M $0.00
% Of Pretax Income 8.54% 0.0%
Net Earnings $75.00M $8.000M
YoY Change 837.5% -97.43%
Net Earnings / Revenue 5.51% 0.65%
Basic Earnings Per Share $0.61 $0.07
Diluted Earnings Per Share $0.60 $0.06
COMMON SHARES
Basic Shares Outstanding 123.4M 122.8M
Diluted Shares Outstanding 125.2M 123.2M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $260.0M $132.0M
YoY Change 96.97% -28.26%
Cash & Equivalents $260.0M $132.0M
Short-Term Investments
Other Short-Term Assets $161.0M $134.0M
YoY Change 20.15% 86.11%
Inventory $618.0M $729.0M
Prepaid Expenses
Receivables $884.0M $845.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.923B $1.840B
YoY Change 4.51% 10.31%
LONG-TERM ASSETS
Property, Plant & Equipment $445.0M $306.0M
YoY Change 45.42% 10.87%
Goodwill $2.632B
YoY Change -0.23%
Intangibles $125.0M
YoY Change -9.42%
Long-Term Investments
YoY Change
Other Assets $244.0M $230.0M
YoY Change 6.09% 1177.78%
Total Long-Term Assets $3.346B $3.293B
YoY Change 1.61% 7.12%
TOTAL ASSETS
Total Short-Term Assets $1.923B $1.840B
Total Long-Term Assets $3.346B $3.293B
Total Assets $5.269B $5.133B
YoY Change 2.65% 8.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $858.0M $932.0M
YoY Change -7.94% 9.65%
Accrued Expenses $606.0M $531.0M
YoY Change 14.12% 36.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $181.0M $88.00M
YoY Change 105.68%
Total Short-Term Liabilities $1.645B $1.551B
YoY Change 6.06% 10.79%
LONG-TERM LIABILITIES
Long-Term Debt $1.141B $1.165B
YoY Change -2.06%
Other Long-Term Liabilities $1.013B $264.0M
YoY Change 283.71% -52.6%
Total Long-Term Liabilities $1.141B $1.429B
YoY Change -20.15% 156.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.645B $1.551B
Total Long-Term Liabilities $1.141B $1.429B
Total Liabilities $3.664B $2.980B
YoY Change 22.95% 52.27%
SHAREHOLDERS EQUITY
Retained Earnings $47.00M
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.000M
YoY Change
Treasury Stock Shares
Shareholders Equity $1.605B $1.573B
YoY Change
Total Liabilities & Shareholders Equity $5.269B $5.133B
YoY Change 2.65% 8.25%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $75.00M $8.000M
YoY Change 837.5% -97.43%
Depreciation, Depletion And Amortization $22.00M $19.00M
YoY Change 15.79% 18.75%
Cash From Operating Activities $21.00M -$33.00M
YoY Change -163.64% -128.21%
INVESTING ACTIVITIES
Capital Expenditures -$19.00M -$28.00M
YoY Change -32.14% -30.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$19.00M -$28.00M
YoY Change -32.14% -28.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -106.0M 53.00M
YoY Change -300.0% 253.33%
NET CHANGE
Cash From Operating Activities 21.00M -33.00M
Cash From Investing Activities -19.00M -28.00M
Cash From Financing Activities -106.0M 53.00M
Net Change In Cash -104.0M -8.000M
YoY Change 1200.0% -108.6%
FREE CASH FLOW
Cash From Operating Activities $21.00M -$33.00M
Capital Expenditures -$19.00M -$28.00M
Free Cash Flow $40.00M -$5.000M
YoY Change -900.0% -103.18%

Facts In Submission

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<p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:7.98%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates<span style="font-weight:normal;font-style:normal;">—The preparation of the Company’s Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the Consolidated Financial Statements and related disclosures in the accompanying Notes to Consolidated Financial Statements. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed, and the effects of changes are reflected in the Consolidated Financial Statements in the period they are determined to be necessary. Estimates are used when accounting for stock-based compensation, pension benefits, contingent consideration, indemnification liabilities, goodwill and intangible assets, and valuation allowances for accounts receivable, inventory, deferred tax assets, and the amounts of revenue and expenses reported during the period. The Company has used information available to identify potential impacts caused by the COVID-19 pandemic at September 26, 2020 in these estimates. </span></p>
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CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
0
us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000
CY2020Q3 us-gaap Professional Fees
ProfessionalFees
12000000
us-gaap Professional Fees
ProfessionalFees
41000000
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3000000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1000000
CY2020Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1000000
CY2019Q3 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
13000000
CY2019Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
0
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1000000

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