2013 Q2 Form 10-Q Financial Statement

#000102116213000028 Filed on August 02, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2 2012 Q1
Revenue $145.1M $127.1M $946.4M
YoY Change 14.15% -84.96% 2.97%
Cost Of Revenue $696.5M $651.3M $706.4M
YoY Change 6.94% 0.38% -0.41%
Gross Profit $222.3M $214.9M $219.6M
YoY Change 3.46% 21.42% 14.49%
Gross Profit Margin 153.22% 169.04% 23.21%
Selling, General & Admin $66.72M $61.96M $63.80M
YoY Change 7.68% 1.63% -6.18%
% of Gross Profit 30.01% 28.84% 29.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.93M $31.82M $30.60M
YoY Change 19.23% 7.97% -4.97%
% of Gross Profit 17.06% 14.81% 13.93%
Operating Expenses $802.3M $746.7M $94.50M
YoY Change 7.44% 0.95% -5.59%
Operating Profit $141.3M $140.9M $183.2M
YoY Change 0.29% 33.75% 69.02%
Interest Expense -$19.70M -$17.20M -$18.50M
YoY Change 14.53% -35.09% -17.41%
% of Operating Profit -13.94% -12.2% -10.1%
Other Income/Expense, Net
YoY Change
Pretax Income $121.6M $123.7M $164.8M
YoY Change -1.68% 56.76% 91.63%
Income Tax $42.59M $47.38M $58.50M
% Of Pretax Income 35.02% 38.3% 35.5%
Net Earnings $79.04M $76.33M $106.3M
YoY Change 3.55% 52.01% 102.99%
Net Earnings / Revenue 54.48% 60.05% 11.23%
Basic Earnings Per Share $1.56 $1.54 $2.16
Diluted Earnings Per Share $1.50 $1.46 $2.03
COMMON SHARES
Basic Shares Outstanding 50.82M shares 49.42M shares 50.12M shares
Diluted Shares Outstanding 52.81M shares 52.27M shares

Balance Sheet

Concept 2013 Q2 2012 Q2 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.50M $32.00M $29.70M
YoY Change -42.19% -12.09% -24.43%
Cash & Equivalents $18.53M $32.00M $29.66M
Short-Term Investments
Other Short-Term Assets $114.6M $143.4M $172.8M
YoY Change -20.08% 166.54% 46.69%
Inventory $1.087B $868.3M $818.0M
Prepaid Expenses
Receivables $411.2M $364.1M $440.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.631B $1.408B $1.461B
YoY Change 15.86% 15.46% 11.25%
LONG-TERM ASSETS
Property, Plant & Equipment $885.2M $745.2M $733.4M
YoY Change 18.78% 2.38% -0.2%
Goodwill $1.724B $1.545B $1.546B
YoY Change 11.6% 1.02%
Intangibles $951.4M $820.8M $829.7M
YoY Change 15.91% -3.48%
Long-Term Investments
YoY Change
Other Assets $68.76M $28.08M $26.42M
YoY Change 144.88% -69.21% -31.85%
Total Long-Term Assets $3.630B $3.139B $3.136B
YoY Change 15.65% -2.0% -0.88%
TOTAL ASSETS
Total Short-Term Assets $1.631B $1.408B $1.461B
Total Long-Term Assets $3.630B $3.139B $3.136B
Total Assets $5.261B $4.547B $4.597B
YoY Change 15.72% 2.81% 2.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $312.4M $279.7M $266.1M
YoY Change 11.69% 3.41% 1.3%
Accrued Expenses $248.1M $258.1M $311.6M
YoY Change -3.86% -12.72% -0.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $56.50M $129.0M $142.2M
YoY Change -56.2% -24.16% -52.65%
Total Short-Term Liabilities $617.0M $666.8M $720.0M
YoY Change -7.48% -20.9% -17.88%
LONG-TERM LIABILITIES
Long-Term Debt $1.357B $972.2M $1.017B
YoY Change 39.61% -9.01% 0.47%
Other Long-Term Liabilities $194.9M $129.0M $136.3M
YoY Change 51.11% -84.29% -18.77%
Total Long-Term Liabilities $194.9M $129.0M $136.3M
YoY Change 51.11% -93.17% -18.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $617.0M $666.8M $720.0M
Total Long-Term Liabilities $194.9M $129.0M $136.3M
Total Liabilities $811.9M $795.8M $856.3M
YoY Change 2.02% -70.87% -18.02%
SHAREHOLDERS EQUITY
Retained Earnings $1.335B $1.045B $970.4M
YoY Change 27.76% 39.11%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.210M $1.716M
YoY Change -66.25%
Treasury Stock Shares 0.000 shares 76.99K shares 0.000 shares
Shareholders Equity $2.134B $1.867B $1.793B
YoY Change
Total Liabilities & Shareholders Equity $5.261B $4.547B $4.597B
YoY Change 15.72% 2.81% 2.68%

Cashflow Statement

Concept 2013 Q2 2012 Q2 2012 Q1
OPERATING ACTIVITIES
Net Income $79.04M $76.33M $106.3M
YoY Change 3.55% 52.01% 102.99%
Depreciation, Depletion And Amortization $37.93M $31.82M $30.60M
YoY Change 19.23% 7.97% -4.97%
Cash From Operating Activities $11.88M $102.5M $84.30M
YoY Change -88.41% 12.38% 205.43%
INVESTING ACTIVITIES
Capital Expenditures -$56.20M -$37.10M -$35.30M
YoY Change 51.48% 136.31% 65.73%
Acquisitions $31.33M $0.00
YoY Change -100.0%
Other Investing Activities -$18.10M $0.00 $3.900M
YoY Change -100.0% 1850.0%
Cash From Investing Activities -$74.37M -$37.10M -$31.30M
YoY Change 100.46% 170.87% 48.34%
FINANCING ACTIVITIES
Cash Dividend Paid $2.069M $1.997M
YoY Change 3.61% 103.57%
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $48.71M -$62.42M -55.90M
YoY Change -178.03% -22.73% 5490.0%
NET CHANGE
Cash From Operating Activities $11.88M $102.5M 84.30M
Cash From Investing Activities -$74.37M -$37.10M -31.30M
Cash From Financing Activities $48.71M -$62.42M -55.90M
Net Change In Cash -$13.78M $3.027M -2.900M
YoY Change -555.24% -193.72% -152.73%
FREE CASH FLOW
Cash From Operating Activities $11.88M $102.5M $84.30M
Capital Expenditures -$56.20M -$37.10M -$35.30M
Free Cash Flow $68.08M $139.6M $119.6M
YoY Change -51.25% 30.57% 144.58%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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 financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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6993000 USD
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CY2013Q2 us-gaap Selling General And Administrative Expense
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CY2013Q2 us-gaap Share Based Compensation
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us-gaap Standard Product Warranty Description
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CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2013Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
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7728000 USD
CY2013Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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153000 USD
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236000 USD
CY2013Q2 tgi Amortization Of Acquired Contract Liabilities
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11150000 USD
CY2012Q2 tgi Earnings Before Interest Taxes Depreciation And Amortization
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166914000 USD
CY2013Q2 tgi Earnings Before Interest Taxes Depreciation And Amortization
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168130000 USD
CY2013Q2 tgi Income Tax Examination Notification From Number Of States
IncomeTaxExaminationNotificationFromNumberOfStates
1
CY2012Q2 tgi Increase Decrease In Rotable Assets
IncreaseDecreaseInRotableAssets
865000 USD
CY2013Q2 tgi Increase Decrease In Rotable Assets
IncreaseDecreaseInRotableAssets
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CY2013Q2 tgi Intangible Assets Including Goodwill Net
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CY2013Q1 tgi Intangible Assets Including Goodwill Net
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2676151000 USD
CY2013Q2 tgi Intercompany Debt
IntercompanyDebt
0 USD
CY2013Q1 tgi Intercompany Debt
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0 USD
CY2012Q2 tgi Intercompany Interest And Charges
IntercompanyInterestAndCharges
0 USD
CY2013Q2 tgi Intercompany Interest And Charges
IntercompanyInterestAndCharges
0 USD
CY2013Q2 tgi Intercompany Investments And Advances
IntercompanyInvestmentsAndAdvances
0 USD
CY2013Q1 tgi Intercompany Investments And Advances
IntercompanyInvestmentsAndAdvances
0 USD
CY2013Q2 tgi Interest Expense And Other
InterestExpenseAndOther
19710000 USD
CY2012Q2 tgi Interest Expense And Other
InterestExpenseAndOther
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CY2013Q2 tgi Other Assets Including Deferred Income Taxes Noncurrent
OtherAssetsIncludingDeferredIncomeTaxesNoncurrent
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CY2013Q1 tgi Other Assets Including Deferred Income Taxes Noncurrent
OtherAssetsIncludingDeferredIncomeTaxesNoncurrent
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CY2012Q2 tgi Proceeds From Payments For Intercompany Financing And Advances
ProceedsFromPaymentsForIntercompanyFinancingAndAdvances
0 USD
CY2013Q2 tgi Proceeds From Payments For Intercompany Financing And Advances
ProceedsFromPaymentsForIntercompanyFinancingAndAdvances
0 USD
CY2013Q2 tgi Rotable Assets
RotableAssets
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CY2013Q1 tgi Rotable Assets
RotableAssets
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CY2013Q2 dei Amendment Flag
AmendmentFlag
false
CY2013Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2013Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2013Q2 dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
CY2013Q2 dei Document Type
DocumentType
10-Q
CY2013Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001021162
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
52013582 shares
CY2013Q2 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013Q2 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q2 dei Entity Registrant Name
EntityRegistrantName
TRIUMPH GROUP INC
CY2013Q2 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013Q2 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

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