2020 Q1 Form 10-Q Financial Statement

#000102116220000004 Filed on February 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q3
Revenue $693.1M $704.7M $772.1M
YoY Change -20.24% -12.78% -9.71%
Cost Of Revenue $556.6M $546.3M $622.2M
YoY Change -22.37% -23.41% -14.11%
Gross Profit $116.1M $142.2M $131.5M
YoY Change -11.55% 97.48% 22.45%
Gross Profit Margin 16.75% 20.18% 17.03%
Selling, General & Admin $63.00M $65.97M $66.20M
YoY Change -16.45% -8.14% -4.82%
% of Gross Profit 54.27% 46.4% 50.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.10M $29.84M $30.22M
YoY Change -4.21% -20.21% -20.76%
% of Gross Profit 29.38% 20.99% 22.99%
Operating Expenses $97.10M $703.0M $711.1M
YoY Change -12.36% -14.77% -17.04%
Operating Profit -$40.30M $1.661M $61.04M
YoY Change -78.7% -109.81% -3150.32%
Interest Expense -$26.10M -$33.20M -$35.40M
YoY Change -16.08% 13.31% 23.34%
% of Operating Profit -1998.8% -58.0%
Other Income/Expense, Net -$15.40M $14.80M $26.40M
YoY Change -223.2% -10.3% 60.0%
Pretax Income -$81.80M -$16.72M $53.46M
YoY Change -60.64% -43.75% -476.72%
Income Tax -$6.400M -$3.512M $11.23M
% Of Pretax Income 21.0%
Net Earnings -$75.07M -$13.21M $42.23M
YoY Change -62.39% -57.32% -387.78%
Net Earnings / Revenue -10.83% -1.87% 5.47%
Basic Earnings Per Share -$1.45 -$0.26 $0.84
Diluted Earnings Per Share -$1.45 -$0.26 $0.84
COMMON SHARES
Basic Shares Outstanding 51.85M shares 50.40M 49.99M
Diluted Shares Outstanding 50.40M 50.46M

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $485.5M $53.60M $24.90M
YoY Change 423.17% 86.76% -25.0%
Cash & Equivalents $485.5M $53.59M $24.85M
Short-Term Investments
Other Short-Term Assets $19.30M $26.10M $20.90M
YoY Change -43.9% -18.94% -30.33%
Inventory $453.0M $473.9M $454.4M
Prepaid Expenses
Receivables $359.5M $300.7M $342.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.562B $1.096B $1.143B
YoY Change 25.83% -28.48% -25.96%
LONG-TERM ASSETS
Property, Plant & Equipment $418.1M $433.5M $503.0M
YoY Change -23.09% -37.85% -29.56%
Goodwill $513.5M $583.7M $578.9M
YoY Change -11.95% -0.14% -1.3%
Intangibles $382.0M $394.8M $406.0M
YoY Change -11.37% -15.21% -15.4%
Long-Term Investments
YoY Change
Other Assets $105.1M $117.2M $130.8M
YoY Change 88.91% 134.14% 156.13%
Total Long-Term Assets $1.419B $1.529B $1.619B
YoY Change -12.07% -14.94% -11.62%
TOTAL ASSETS
Total Short-Term Assets $1.562B $1.096B $1.143B
Total Long-Term Assets $1.419B $1.529B $1.619B
Total Assets $2.980B $2.625B $2.762B
YoY Change 4.41% -21.17% -18.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $457.7M $380.0M $418.7M
YoY Change 5.51% -29.67% -25.43%
Accrued Expenses $227.4M $231.1M $222.0M
YoY Change -5.08% -4.19% -3.53%
Deferred Revenue $295.3M $264.5M $277.0M
YoY Change 0.55% -16.04% -21.97%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.300M $7.800M $7.800M
YoY Change -10.98% -46.21% -48.0%
Total Short-Term Liabilities $987.8M $883.3M $925.4M
YoY Change 1.28% -20.5% -20.35%
LONG-TERM LIABILITIES
Long-Term Debt $1.800B $1.401B $1.461B
YoY Change 21.59% -13.48% -9.44%
Other Long-Term Liabilities $306.2M $361.1M $390.9M
YoY Change -27.88% -15.9% 4.27%
Total Long-Term Liabilities $306.2M $361.1M $390.9M
YoY Change -27.88% -15.9% 4.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $987.8M $883.3M $925.4M
Total Long-Term Liabilities $306.2M $361.1M $390.9M
Total Liabilities $1.294B $1.244B $1.316B
YoY Change -7.57% -19.22% -14.34%
SHAREHOLDERS EQUITY
Retained Earnings -$803.5M -$753.4M -$737.5M
YoY Change 1.18% 32.87% 38.12%
Common Stock $804.8M
YoY Change -7.23%
Preferred Stock
YoY Change
Treasury Stock (at cost) $36.22M $38.42M $145.5M
YoY Change -77.24% -77.63% -16.53%
Treasury Stock Shares $602.8K 631.1K shares 2.386M shares
Shareholders Equity -$781.3M -$532.9M -$590.8M
YoY Change
Total Liabilities & Shareholders Equity $2.980B $2.625B $2.762B
YoY Change 4.41% -21.17% -18.18%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$75.07M -$13.21M $42.23M
YoY Change -62.39% -57.32% -387.78%
Depreciation, Depletion And Amortization $34.10M $29.84M $30.22M
YoY Change -4.21% -20.21% -20.76%
Cash From Operating Activities $57.40M $49.90M -$15.60M
YoY Change 206.95% 1117.07% -88.14%
INVESTING ACTIVITIES
Capital Expenditures -$12.50M -$9.700M -$9.500M
YoY Change 1.63% -7.62% -21.49%
Acquisitions
YoY Change
Other Investing Activities -$2.800M $50.00M
YoY Change -101.36% 12400.0%
Cash From Investing Activities -$15.30M $40.30M -$6.900M
YoY Change -107.89% -495.1% -124.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 395.6M -63.50M 19.70M
YoY Change -365.5% -2860.87% -80.93%
NET CHANGE
Cash From Operating Activities 57.40M 49.90M -15.60M
Cash From Investing Activities -15.30M 40.30M -6.900M
Cash From Financing Activities 395.6M -63.50M 19.70M
Net Change In Cash 437.7M 26.70M -2.800M
YoY Change 588.21% -802.63% -2900.0%
FREE CASH FLOW
Cash From Operating Activities $57.40M $49.90M -$15.60M
Capital Expenditures -$12.50M -$9.700M -$9.500M
Free Cash Flow $69.90M $59.60M -$6.100M
YoY Change 125.48% 308.22% -94.89%

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us-gaap Gain Loss Related To Litigation Settlement
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us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
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us-gaap Gain Loss On Sale Of Business
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us-gaap Gain Loss On Sale Of Business
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us-gaap Operating Expenses
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OperatingIncomeLoss
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OperatingIncomeLoss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2018Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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EarningsPerShareDiluted
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WeightedAverageNumberOfDilutedSharesOutstanding
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WeightedAverageNumberOfDilutedSharesOutstanding
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
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OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
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OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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CY2019Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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CY2018Q3 us-gaap Dividends Common Stock Cash
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CY2018Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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CY2018Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2018Q3 us-gaap Common Stock Shares Outstanding
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CY2018Q3 us-gaap Common Stock Value Outstanding
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51000 USD
us-gaap Deferred Income Tax Expense Benefit
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0 USD
us-gaap Share Based Compensation
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8245000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8509000 USD
CY2018Q3 us-gaap Additional Paid In Capital
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852402000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
174311000 USD
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-382225000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-533968000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-238051000 USD
CY2018Q4 us-gaap Profit Loss
ProfitLoss
-30945000 USD
CY2019Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
-84000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7725000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7725000 USD
CY2018Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1994000 USD
CY2018Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
25524 USD
CY2018Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2757000 USD
CY2018Q4 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
4735 shares
CY2018Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
97000 USD
CY2018Q4 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
14567 shares
CY2018Q4 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
321000 USD
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49848073 shares
CY2018Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
51000 USD
CY2018Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
852843000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
171771000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-390629000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-566991000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-276497000 USD
us-gaap Net Income Loss
NetIncomeLoss
46943000 USD
us-gaap Net Income Loss
NetIncomeLoss
-122155000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
104112000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
114349000 USD
tgi Amortization Of Acquired Contract Liabilities
AmortizationOfAcquiredContractLiabilities
56153000 USD
tgi Amortization Of Acquired Contract Liabilities
AmortizationOfAcquiredContractLiabilities
48769000 USD
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-55190000 USD
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-17837000 USD
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
14373000 USD
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
9114000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6811000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
632000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
622000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
8108000 USD
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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-8669000 USD
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-53047000 USD
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-6240000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
67764000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
61563000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-11315000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1615000 USD
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-143718000 USD
us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-72639000 USD
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-46693000 USD
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-55150000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
995000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-2508000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
39288000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
27250000 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
34824000 USD
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-49956000 USD
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-41417000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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22706000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6593000 USD
us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
215000000 USD
us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
-218066000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
570980000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
45000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
433197000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
73011000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
17545000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1941000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
6005000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
5975000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1179000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
645000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-101946000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
181494000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
739000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2126000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-39213000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-7155000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
92807000 USD
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35819000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53594000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28664000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
76444000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
84663000 USD
CY2019Q2 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Cumulative Effect Of Change On Equity Or Net Assets1
NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1
225000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Standards Issued Not Yet Implemented</span></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued ASU 2016-13, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments</span><span style="font-family:inherit;font-size:10pt;">. This ASU modifies the measurement of expected credit losses of certain financial instruments. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. The amendments in this ASU should be applied on a modified retrospective basis to all periods presented. The Company is currently evaluating the impact of adopting ASU 2016-13 and does not expect the adoption to have a significant impact on its consolidated financial statements and related disclosures.</span></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-13, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement</span><span style="font-family:inherit;font-size:10pt;">. This ASU modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. ASU 2018-13 is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods, with early adoption permitted. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company is currently evaluating the effect that ASU 2018-13 will have on its consolidated financial statements and related disclosures.</span></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-14, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans</span><span style="font-family:inherit;font-size:10pt;">, which modifies the disclosure requirements for defined benefit pension plans and other postretirement plans. ASU 2018-14 is effective for annual periods beginning after December 15, 2020, with early adoption permitted. The amendments in this ASU should be applied on a retrospective basis to all periods presented. The Company is currently evaluating the effect that ASU 2018-14 will have on its consolidated financial statements and related disclosures.</span></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-15, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract</span><span style="font-family:inherit;font-size:10pt;">. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods, with early adoption permitted. The amendments in this ASU should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company currently expects to adopt the standard prospectively and does not expect adoption to have a significant impact on its consolidated financial statements and related disclosures.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:24px;font-size:10pt;"><span 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 condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</span></div>
tgi Standard Product Warranty Term Of Warranty
StandardProductWarrantyTermOfWarranty
P3Y
tgi Extended Product Warranty Term Of Warranty
ExtendedProductWarrantyTermOfWarranty
P20Y
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
59577000 USD
CY2019Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
58395000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4370000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6243000 USD
CY2019Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2277789 shares
CY2019Q4 us-gaap Revenues
Revenues
704666000 USD
CY2018Q4 us-gaap Revenues
Revenues
807895000 USD
us-gaap Revenues
Revenues
2207007000 USD
us-gaap Revenues
Revenues
2495903000 USD
CY2019Q4 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
60000000 USD
CY2019Q4 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
7000000 USD
CY2019Q4 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
64000000 USD
CY2019Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
10000000 USD
CY2019Q4 us-gaap Revenues
Revenues
704666000 USD
CY2018Q4 us-gaap Revenues
Revenues
807895000 USD
us-gaap Revenues
Revenues
2207007000 USD
us-gaap Revenues
Revenues
2495903000 USD
CY2019Q4 tgi Contractwith Customer Currentand Noncurrent
ContractwithCustomerCurrentandNoncurrent
265190000 USD
CY2019Q1 tgi Contractwith Customer Currentand Noncurrent
ContractwithCustomerCurrentandNoncurrent
326667000 USD
CY2019Q4 tgi Total Contractwith Customer Liability Currentand Noncurrent
TotalContractwithCustomerLiabilityCurrentandNoncurrent
376522000 USD
CY2019Q1 tgi Total Contractwith Customer Liability Currentand Noncurrent
TotalContractwithCustomerLiabilityCurrentandNoncurrent
450051000 USD
CY2019Q4 tgi Contractwith Customer Net Asset Liability Currentand Noncurrent
ContractwithCustomerNetAssetLiabilityCurrentandNoncurrent
111332000 USD
CY2019Q1 tgi Contractwith Customer Net Asset Liability Currentand Noncurrent
ContractwithCustomerNetAssetLiabilityCurrentandNoncurrent
123384000 USD
tgi Contractwith Customer Asset Contract Assets Sold
ContractwithCustomerAssetContractAssetsSold
76667000 USD
tgi Contractwith Customers Liability Contract Liabilities Sold
ContractwithCustomersLiabilityContractLiabilitiesSold
12641000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
72293000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
23315000 USD
CY2019Q1 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
34185000 USD
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
112059000 USD
CY2019Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
156332000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1320852000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1798557000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
519786000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
503126000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
17829000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
5892000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4224000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1579000 USD
us-gaap Lease Cost
LeaseCost
29524000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
14046000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1600000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
6516000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2569000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
811000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
66578000 USD
CY2019Q4 tgi Finance Lease Rightof Use Asset Gross
FinanceLeaseRightofUseAssetGross
39364000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
21807000 USD
CY2019Q4 tgi Total Rightof Use Assets
TotalRightofUseAssets
88385000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14028000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
7795000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58152000 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
18172000 USD
CY2019Q4 tgi Total Lease Liabilities
TotalLeaseLiabilities
98147000 USD
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y2M12D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.064
CY2019Q4 tgi Total Lease Payments Due Year4
TotalLeasePaymentsDueYear4
13894000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
8322000 USD
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.058
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
7359000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2348000 USD
CY2019Q4 tgi Total Lease Payments Remainderof Fiscal Year
TotalLeasePaymentsRemainderofFiscalYear
9707000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
16753000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
8786000 USD
CY2019Q4 tgi Total Lease Payments Due Year2
TotalLeasePaymentsDueYear2
25539000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
14451000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
5751000 USD
CY2019Q4 tgi Total Lease Payments Due Year3
TotalLeasePaymentsDueYear3
20202000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
11021000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2873000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
2112000 USD
CY2019Q4 tgi Total Lease Payments Due Year5
TotalLeasePaymentsDueYear5
10434000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
35810000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
11263000 USD
CY2019Q4 tgi Total Lease Payments Due After Year5
TotalLeasePaymentsDueAfterYear5
47073000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
93716000 USD
CY2019Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
33133000 USD
CY2019Q4 tgi Total Lease Payments Due
TotalLeasePaymentsDue
126849000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21536000 USD
CY2019Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
7166000 USD
CY2019Q4 tgi Total Lease Payments Undiscounted Excess
TotalLeasePaymentsUndiscountedExcess
28702000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
72180000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
25967000 USD
CY2019Q4 tgi Total Lease Liability
TotalLeaseLiability
98147000 USD
CY2019Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
39036000 USD
CY2019Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
35883000 USD
CY2019Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
322336000 USD
CY2019Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
277996000 USD
CY2019Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
57061000 USD
CY2019Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
42399000 USD
CY2019Q4 tgi Rotable Assets
RotableAssets
55430000 USD
CY2019Q1 tgi Rotable Assets
RotableAssets
57282000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
473863000 USD
CY2019Q1 us-gaap Inventory Net
InventoryNet
413560000 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
17279000 USD
CY2019Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
13171000 USD
CY2019Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1408688000 USD
CY2019Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1488821000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
7795000 USD
CY2019Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
8201000 USD
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tgi Proceedsfrom Saleof Specified Assets
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tgi Mandatoryrepayment
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tgi Mandatory Repayment Minimum Percentof Proceeds
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q4 us-gaap Goodwill
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EffectOfExchangeRateOnCashAndCashEquivalents
739000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-39213000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
92807000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53594000 USD
us-gaap Net Income Loss
NetIncomeLoss
-122155000 USD
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-70961000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-193116000 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
34824000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
41417000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6593000 USD
us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
-218066000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
45000000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1941000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
5975000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
645000 USD
tgi Proceeds From Payments For Intercompany Financing And Advances
ProceedsFromPaymentsForIntercompanyFinancingAndAdvances
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
181494000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2126000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-7155000 USD
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35819000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28664000 USD
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
9257000 USD
us-gaap Restructuring Charges
RestructuringCharges
13490000 USD

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