$TGI
TRIUMPH GROUP INC

2022 Q3 Form 10-Q Financial Statement

#000095017022014222 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $307.6M $349.4M $386.7M
YoY Change -13.93% -11.92% -17.17%
Cost Of Revenue $208.1M $272.4M $284.7M
YoY Change -20.69% -7.25% -20.82%
Gross Profit $99.54M $76.98M $101.9M
YoY Change 4.71% -25.24% -4.92%
Gross Profit Margin 32.36% 22.03% 26.36%
Selling, General & Admin $60.42M $51.75M $49.30M
YoY Change 11.66% -8.01% -8.37%
% of Gross Profit 60.7% 67.22% 48.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.685M $9.806M $9.600M
YoY Change -32.91% -36.45% -53.17%
% of Gross Profit 8.73% 12.74% 9.42%
Operating Expenses $69.10M $51.75M $58.90M
YoY Change 27.71% -8.01% -20.63%
Operating Profit $30.44M $14.73M $43.03M
YoY Change 85.0% -29.27% 30.41%
Interest Expense -$32.45M -$31.91M -$30.80M
YoY Change -5.06% -17.24% -21.23%
% of Operating Profit -106.63% -216.59% -71.57%
Other Income/Expense, Net $8.563M $8.586M -$17.75M
YoY Change -18.05% -598.61% -245.52%
Pretax Income $108.3M -$8.592M -$9.758M
YoY Change -1586.7% -70.51% -86.63%
Income Tax $1.750M $1.750M $817.0K
% Of Pretax Income 1.62%
Net Earnings $106.5M -$10.34M -$10.58M
YoY Change -1274.49% -65.93% -85.61%
Net Earnings / Revenue 34.63% -2.96% -2.74%
Basic Earnings Per Share $1.64 -$0.16
Diluted Earnings Per Share $1.632M -$0.16 -$163.5K
COMMON SHARES
Basic Shares Outstanding 64.97M 64.82M 64.63M
Diluted Shares Outstanding 65.28M 64.82M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $104.5M $134.6M $240.9M
YoY Change -46.19% -43.31% -59.17%
Cash & Equivalents $104.5M $134.6M $240.9M
Short-Term Investments
Other Short-Term Assets $17.55M $104.9M $80.01M
YoY Change -71.07% 360.5% -66.03%
Inventory $398.1M $379.9M $361.7M
Prepaid Expenses
Receivables $279.3M $168.1M $178.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $799.3M $885.0M $963.1M
YoY Change -17.46% -12.14% -38.04%
LONG-TERM ASSETS
Property, Plant & Equipment $160.9M $165.7M $169.1M
YoY Change -10.17% -19.15% -20.02%
Goodwill $508.0M $513.7M
YoY Change -2.76% -1.52%
Intangibles $81.88M $84.85M
YoY Change -17.67% -17.18%
Long-Term Investments
YoY Change
Other Assets $28.39M $26.93M $30.48M
YoY Change -39.27% -45.61% -50.07%
Total Long-Term Assets $768.9M $782.5M $798.1M
YoY Change -7.62% -10.7% -10.98%
TOTAL ASSETS
Total Short-Term Assets $799.3M $885.0M $963.1M
Total Long-Term Assets $768.9M $782.5M $798.1M
Total Assets $1.568B $1.667B $1.761B
YoY Change -12.91% -11.47% -28.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $154.6M $132.7M $161.5M
YoY Change 8.41% -19.43% -10.0%
Accrued Expenses $156.0M $168.8M $208.1M
YoY Change -33.84% -28.18% -23.27%
Deferred Revenue $53.91M $171.8M
YoY Change -65.93% -15.96%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.849M $2.968M $3.268M
YoY Change -21.67% -36.21% -37.15%
Total Short-Term Liabilities $355.9M $543.5M $602.1M
YoY Change -35.18% -3.41% -16.18%
LONG-TERM LIABILITIES
Long-Term Debt $1.588B $1.587B $1.586B
YoY Change -1.13% -1.2% -18.75%
Other Long-Term Liabilities $319.2M $47.27M $51.71M
YoY Change 160.59% -71.77% -75.07%
Total Long-Term Liabilities $1.907B $47.27M $51.71M
YoY Change 1456.99% -71.77% -75.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $355.9M $543.5M $602.1M
Total Long-Term Liabilities $1.907B $47.27M $51.71M
Total Liabilities $2.270B $590.8M $653.9M
YoY Change 238.11% -19.08% -29.37%
SHAREHOLDERS EQUITY
Retained Earnings -$1.307B -$1.297B
YoY Change 1.77% 3.41%
Common Stock $971.4M $973.1M
YoY Change 0.5% -0.53%
Preferred Stock
YoY Change
Treasury Stock (at cost) $96.00K
YoY Change -99.24%
Treasury Stock Shares $0.00 $14.90K
Shareholders Equity -$702.1M -$805.3M -$787.4M
YoY Change
Total Liabilities & Shareholders Equity $1.568B $1.667B $1.761B
YoY Change -12.91% -11.47% -28.14%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $106.5M -$10.34M -$10.58M
YoY Change -1274.49% -65.93% -85.61%
Depreciation, Depletion And Amortization $8.685M $9.806M $9.600M
YoY Change -32.91% -36.45% -53.17%
Cash From Operating Activities -$19.35M -$93.03M $32.97M
YoY Change -46.28% -37.78% 44.58%
INVESTING ACTIVITIES
Capital Expenditures -$7.962M -$5.366M -$3.843M
YoY Change 48.3% 154.07% -38.02%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $3.968M
YoY Change -100.0% -100.0% -70.61%
Cash From Investing Activities -$7.962M -$5.366M $125.0K
YoY Change 242.3% -103.42% -98.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -867.0K -4.432M -1.102M
YoY Change -75.96% -98.77% -101.39%
NET CHANGE
Cash From Operating Activities -19.35M -93.03M 32.97M
Cash From Investing Activities -7.962M -5.366M 125.0K
Cash From Financing Activities -867.0K -4.432M -1.102M
Net Change In Cash -28.18M -106.2M 31.99M
YoY Change -32.83% -69.85% -70.81%
FREE CASH FLOW
Cash From Operating Activities -$19.35M -$93.03M $32.97M
Capital Expenditures -$7.962M -$5.366M -$3.843M
Free Cash Flow -$11.38M -$87.66M $36.81M
YoY Change -62.85% -40.53% 26.92%

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-1013000
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-838000
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-706000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5897000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
22672000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-16239000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7679000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-787423000
CY2021Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2021Q2 tgi Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Excluding Derivative Hedge
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxExcludingDerivativeHedge
-706000
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2470000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-10342000
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-10382000
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2336000
CY2022Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0
CY2022Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
5323000
CY2021Q2 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
279000
CY2022Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-93030000
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-149514000
CY2022Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2022Q2 tgi Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Excluding Derivative Hedge
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxExcludingDerivativeHedge
-838000
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1657000
CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3442000
CY2022Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
160000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-805287000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-818853000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-30351000
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2749000
CY2021Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0
CY2021Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
20629000
CY2021Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
172000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-826226000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10342000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9806000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15431000
CY2022Q2 tgi Amortization Of Acquired Contract Liabilities
AmortizationOfAcquiredContractLiabilities
523000
CY2021Q2 tgi Amortization Of Acquired Contract Liabilities
AmortizationOfAcquiredContractLiabilities
1214000
CY2021Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-5969000
CY2021Q2 tgi Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments And Special Termination Benefits
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailmentsAndSpecialTerminationBenefits
-16078000
CY2022Q2 us-gaap Amortization Of Financing Costs
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1562000
CY2021Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4002000
CY2022Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
200000
CY2021Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-28000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1578000
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2247000
CY2022Q2 us-gaap Increase Decrease In Accounts Receivable
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-4474000
CY2021Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1321000
CY2022Q2 us-gaap Increase Decrease In Contract With Customer Asset
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8638000
CY2021Q2 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
4426000
CY2022Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
19190000
CY2021Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9354000
CY2022Q2 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
7538000
CY2021Q2 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3633000
CY2022Q2 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
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CY2021Q2 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
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CY2022Q2 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
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CY2021Q2 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-13713000
CY2022Q2 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-255000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
134636000
CY2022Q2 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
3044000
CY2021Q2 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
2112000
CY2022Q2 tgi Payments For Proceeds From Sale Of Assets And Businesses
PaymentsForProceedsFromSaleOfAssetsAndBusinesses
2322000
CY2021Q2 tgi Payments For Proceeds From Sale Of Assets And Businesses
PaymentsForProceedsFromSaleOfAssetsAndBusinesses
-180478000
CY2021Q2 us-gaap Payments To Acquire Buildings
PaymentsToAcquireBuildings
21550000
CY2022Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5366000
CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
156816000
CY2022Q2 tgi Repayments Of Long Term Debt And Finance Lease Obligation
RepaymentsOfLongTermDebtAndFinanceLeaseObligation
990000
CY2021Q2 tgi Repayments Of Long Term Debt And Finance Lease Obligation
RepaymentsOfLongTermDebtAndFinanceLeaseObligation
350688000
CY2021Q2 tgi Payment Of Premium On Redemption Of First Lien Notes
PaymentOfPremiumOnRedemptionOfFirstLienNotes
7489000
CY2022Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3442000
CY2021Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2336000
CY2022Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4432000
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-360513000
CY2022Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-3414000
CY2021Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
815000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-106242000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-352396000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
240878000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
589882000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
237486000
CY2022Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2021Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q2 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</span></p>
CY2022Q2 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">The Company’s trade and other accounts receivable are exposed to credit risk. However, the risk is limited due to the diversity of the customer base and the customer base’s wide geographical area. Trade accounts receivable from The Boeing Company ("Boeing") (representing commercial, military, and space) represented approximately </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">20</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> and </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">17</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> of total trade accounts receivable as of June 30, 2022 and March 31, 2022, respectively. Trade and other accounts receivable from Qarbon Aerospace Inc. include receivables that largely correspond with payables associated with transition services and represented approximately </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> and </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">11</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> of total trade accounts receivable as of June 30, 2022 and March 31, 2022, respectively. The Company had no other concentrations of credit risk of more than 10%.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">Sales to Boeing for the three months ended June 30, 2022, were </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">118,303</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">, or </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">34</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> of net sales, of which </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">39,588</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">78,715</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> were from Systems &amp; Support and Aerospace Structures, respectively. Sales to Boeing for the three months ended June 30, 2021, were </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">142,102</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">, or </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">36</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> of net sales, of which </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">40,053</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">102,049</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> were from Systems &amp; Support and Aerospace Structures, respectively.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">No other single customer accounted for more than 10% of the Company’s net sales. However, the loss of any significant customer could have a material adverse effect on the Company and its operating subsidiaries.</span></p>
CY2022Q2 tgi Customer Advance Repayments Obligations
CustomerAdvanceRepaymentsObligations
103803000
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
3268000
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1587073000
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
15220000
CY2022Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1159000
CY2021Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
485000
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1586222000
CY2022Q2 us-gaap Revenues
Revenues
349384000
CY2021Q2 us-gaap Revenues
Revenues
396646000
CY2022Q2 us-gaap Revenues
Revenues
349384000
CY2021Q2 us-gaap Revenues
Revenues
396646000
CY2022Q2 tgi Contract With Customer Current And Noncurrent
ContractWithCustomerCurrentAndNoncurrent
97394000
CY2022Q1 tgi Contract With Customer Current And Noncurrent
ContractWithCustomerCurrentAndNoncurrent
101893000
CY2022Q2 tgi Contract With Customer Asset Change In Contract Asset
ContractWithCustomerAssetChangeInContractAsset
4499000
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
54947000
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
172862000
CY2022Q2 tgi Contract With Customer Liability Change In Contract Liability
ContractWithCustomerLiabilityChangeInContractLiability
117915000
CY2022Q2 tgi Contract With Customer Net Asset Liability Current And Noncurrent
ContractWithCustomerNetAssetLiabilityCurrentAndNoncurrent
42447000
CY2022Q1 tgi Contract With Customer Net Asset Liability Current And Noncurrent
ContractWithCustomerNetAssetLiabilityCurrentAndNoncurrent
-70969000
CY2022Q2 tgi Contract With Customer Asset Liability Net Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetLiabilityNetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
113416000
CY2022Q2 tgi Change In Accounting Estimate
ChangeInAccountingEstimate
11747000
CY2022Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1590041000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1829569000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
916200000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
890235000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
23134000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
CY2022Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1589490000
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
48821000
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
44841000
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
283245000
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
269368000
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
20390000
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
19472000
CY2022Q2 tgi Rotable Assets
RotableAssets
27473000
CY2022Q1 tgi Rotable Assets
RotableAssets
28011000
CY2022Q2 us-gaap Inventory Net
InventoryNet
379929000
CY2022Q1 us-gaap Inventory Net
InventoryNet
361692000
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
2968000
CY2022Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
13658000
CY2022Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
15173000
CY2022Q2 us-gaap Interest Paid
InterestPaid
25869000
CY2021Q2 us-gaap Interest Paid
InterestPaid
46026000
CY2021Q2 tgi Payment Of Premium On Redemption Of First Lien Notes
PaymentOfPremiumOnRedemptionOfFirstLienNotes
7489000
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12064000
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
11800000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64820000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64299000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64820000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64299000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.204
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.042
CY2022Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q2 us-gaap Revenues
Revenues
349384000
CY2022Q2 tgi Intersegment Sales
IntersegmentSales
0
CY2022Q2 tgi Earnings Before Interest Taxes Depreciation Amortization Including Impairments And Pension Benefit Expense
EarningsBeforeInterestTaxesDepreciationAmortizationIncludingImpairmentsAndPensionBenefitExpense
56729000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9806000
CY2022Q2 tgi Interest Expense And Other Net
InterestExpenseAndOtherNet
31912000
CY2022Q2 tgi Corporate Expenses
CorporateExpenses
13949000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1578000
CY2022Q2 tgi Amortization Of Acquired Contract Liabilities
AmortizationOfAcquiredContractLiabilities
523000
CY2022Q2 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-8586000
CY2022Q2 tgi Consideration Payable To Customer Related To Divestiture
ConsiderationPayableToCustomerRelatedToDivestiture
17185000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8592000
CY2022Q2 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
3044000
CY2022Q2 us-gaap Assets
Assets
1667461000
CY2021Q2 us-gaap Revenues
Revenues
396646000
CY2021Q2 tgi Earnings Before Interest Taxes Depreciation Amortization Including Impairments And Pension Benefit Expense
EarningsBeforeInterestTaxesDepreciationAmortizationIncludingImpairmentsAndPensionBenefitExpense
60218000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15431000
CY2021Q2 tgi Interest Expense And Other Net
InterestExpenseAndOtherNet
38558000
CY2021Q2 tgi Corporate Expenses
CorporateExpenses
16953000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2247000
CY2021Q2 tgi Amortization Of Acquired Contract Liabilities
AmortizationOfAcquiredContractLiabilities
1214000
CY2021Q2 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
1722000
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-9689000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-29137000
CY2021Q2 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
2112000
CY2022Q2 tgi Minimum Annual Payment Period On Withdrawal Liability Obligation
MinimumAnnualPaymentPeriodOnWithdrawalLiabilityObligation
P10Y

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