$TGI
TRIUMPH GROUP INC

2020 Q3 Form 10-Q Financial Statement

#000156459020051321 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $481.8M $772.1M
YoY Change -37.6% -9.71%
Cost Of Revenue $382.1M $622.2M
YoY Change -38.6% -14.11%
Gross Profit $99.74M $131.5M
YoY Change -24.12% 22.45%
Gross Profit Margin 20.7% 17.03%
Selling, General & Admin $56.24M $66.20M
YoY Change -15.05% -4.82%
% of Gross Profit 56.38% 50.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.10M $30.22M
YoY Change -26.87% -20.76%
% of Gross Profit 22.15% 22.99%
Operating Expenses $56.24M $711.1M
YoY Change -92.09% -17.04%
Operating Profit $7.422M $61.04M
YoY Change -87.84% -3150.32%
Interest Expense -$52.50M -$35.40M
YoY Change 48.31% 23.34%
% of Operating Profit -707.36% -58.0%
Other Income/Expense, Net $12.40M $26.40M
YoY Change -53.03% 60.0%
Pretax Income -$32.66M $53.46M
YoY Change -161.09% -476.72%
Income Tax $832.0K $11.23M
% Of Pretax Income 21.0%
Net Earnings -$33.49M $42.23M
YoY Change -179.29% -387.78%
Net Earnings / Revenue -6.95% 5.47%
Basic Earnings Per Share -$0.64 $0.84
Diluted Earnings Per Share -$0.64 $0.84
COMMON SHARES
Basic Shares Outstanding 52.01M 49.99M
Diluted Shares Outstanding 52.01M 50.46M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $440.2M $24.90M
YoY Change 1667.87% -25.0%
Cash & Equivalents $440.2M $24.85M
Short-Term Investments
Other Short-Term Assets $131.6M $20.90M
YoY Change 529.67% -30.33%
Inventory $465.8M $454.4M
Prepaid Expenses
Receivables $233.8M $342.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.465B $1.143B
YoY Change 28.12% -25.96%
LONG-TERM ASSETS
Property, Plant & Equipment $360.9M $503.0M
YoY Change -28.24% -29.56%
Goodwill $516.8M $578.9M
YoY Change -10.72% -1.3%
Intangibles $116.9M $406.0M
YoY Change -71.21% -15.4%
Long-Term Investments
YoY Change
Other Assets $74.22M $130.8M
YoY Change -43.27% 156.13%
Total Long-Term Assets $1.069B $1.619B
YoY Change -33.97% -11.62%
TOTAL ASSETS
Total Short-Term Assets $1.465B $1.143B
Total Long-Term Assets $1.069B $1.619B
Total Assets $2.533B $2.762B
YoY Change -8.27% -18.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $242.5M $418.7M
YoY Change -42.09% -25.43%
Accrued Expenses $196.6M $222.0M
YoY Change -11.42% -3.53%
Deferred Revenue $175.2M $277.0M
YoY Change -36.76% -21.97%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.200M $7.800M
YoY Change -7.69% -48.0%
Total Short-Term Liabilities $674.0M $925.4M
YoY Change -27.16% -20.35%
LONG-TERM LIABILITIES
Long-Term Debt $2.015B $1.461B
YoY Change 37.91% -9.44%
Other Long-Term Liabilities $274.8M $390.9M
YoY Change -29.71% 4.27%
Total Long-Term Liabilities $274.8M $390.9M
YoY Change -29.71% 4.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $674.0M $925.4M
Total Long-Term Liabilities $274.8M $390.9M
Total Liabilities $948.8M $1.316B
YoY Change -27.92% -14.34%
SHAREHOLDERS EQUITY
Retained Earnings -$1.113B -$737.5M
YoY Change 50.88% 38.12%
Common Stock $794.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.89M $145.5M
YoY Change -85.64% -16.53%
Treasury Stock Shares $382.2K 2.386M shares
Shareholders Equity -$1.064B -$590.8M
YoY Change
Total Liabilities & Shareholders Equity $2.533B $2.762B
YoY Change -8.27% -18.18%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$33.49M $42.23M
YoY Change -179.29% -387.78%
Depreciation, Depletion And Amortization $22.10M $30.22M
YoY Change -26.87% -20.76%
Cash From Operating Activities -$42.20M -$15.60M
YoY Change 170.51% -88.14%
INVESTING ACTIVITIES
Capital Expenditures -$5.100M -$9.500M
YoY Change -46.32% -21.49%
Acquisitions
YoY Change
Other Investing Activities $700.0K
YoY Change
Cash From Investing Activities -$4.400M -$6.900M
YoY Change -36.23% -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 454.1M 19.70M
YoY Change 2205.08% -80.93%
NET CHANGE
Cash From Operating Activities -42.20M -15.60M
Cash From Investing Activities -4.400M -6.900M
Cash From Financing Activities 454.1M 19.70M
Net Change In Cash 407.5M -2.800M
YoY Change -14653.57% -2900.0%
FREE CASH FLOW
Cash From Operating Activities -$42.20M -$15.60M
Capital Expenditures -$5.100M -$9.500M
Free Cash Flow -$37.10M -$6.100M
YoY Change 508.2% -94.89%

Facts In Submission

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OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
tgi:LiabilitiesRelatedToAssetsHeldForSaleCurrent
CY2020Q1 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:OtherLiabilitiesNoncurrent
CY2020Q3 us-gaap Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List
FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
tgi:LiabilitiesRelatedToAssetsHeldForSaleCurrent
CY2020Q1 us-gaap Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List
FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:LongTermDebtAndCapitalLeaseObligations
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y2M12D
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M18D
CY2020Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y10M24D
CY2020Q3 us-gaap Assets Current
AssetsCurrent
1464536000
CY2020Q1 us-gaap Assets Current
AssetsCurrent
1561632000
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
360949000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
418141000
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
53461000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
42234000
us-gaap Net Income Loss
NetIncomeLoss
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CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.84
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
0
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
0
CY2019Q3 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
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us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
0
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
0
CY2019Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
118073000
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
118073000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
0
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
0
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
10596000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
9189000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
0
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
0
CY2020Q3 tgi Other Comprehensive Income Loss Unrealized Gain Loss On Cash Flow Hedges During Period Tax
OtherComprehensiveIncomeLossUnrealizedGainLossOnCashFlowHedgesDuringPeriodTax
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tgi Other Comprehensive Income Loss Unrealized Gain Loss On Cash Flow Hedges During Period Tax
OtherComprehensiveIncomeLossUnrealizedGainLossOnCashFlowHedgesDuringPeriodTax
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CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q3 tgi Other Comprehensive Income Loss Unrealized Gain Loss On Cash Flow Hedges During Period Tax
OtherComprehensiveIncomeLossUnrealizedGainLossOnCashFlowHedgesDuringPeriodTax
0
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q2 us-gaap Profit Loss
ProfitLoss
16924000
CY2020Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
7282000
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
4265000
CY2020Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2020Q3 tgi Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Excluding Derivative Hedge
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxExcludingDerivativeHedge
2231000
CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2020Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
21000
CY2020Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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tgi Other Comprehensive Income Loss Unrealized Gain Loss On Cash Flow Hedges During Period Tax
OtherComprehensiveIncomeLossUnrealizedGainLossOnCashFlowHedgesDuringPeriodTax
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CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
2772000
CY2019Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
245000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
6430000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
340000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
0
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
0
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
2099000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
1737000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
4331000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-288213000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q2 us-gaap Profit Loss
ProfitLoss
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CY2020Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0
CY2020Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2020Q2 tgi Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Excluding Derivative Hedge
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxExcludingDerivativeHedge
2100000
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2020Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2020Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q3 us-gaap Profit Loss
ProfitLoss
-33489000
CY2019Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2683000
CY2019Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0
CY2019Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
2573000
CY2019Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2019Q2 tgi Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Excluding Derivative Hedge
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxExcludingDerivativeHedge
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CY2019Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2019Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
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CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1903000
CY2019Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1043000
CY2019Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
262000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-557919000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
42234000
CY2019Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6227000
CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0
CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-68852000
CY2019Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-29436000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-15871000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
546000000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-117434000
tgi Repayments Of Long Term Debt And Finance Lease Obligation
RepaymentsOfLongTermDebtAndFinanceLeaseObligation
92843000
tgi Repayments Of Long Term Debt And Finance Lease Obligation
RepaymentsOfLongTermDebtAndFinanceLeaseObligation
415447000
CY2019Q3 tgi Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Excluding Derivative Hedge
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxExcludingDerivativeHedge
-1078000
CY2019Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.04
CY2019Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2003000
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2804000
CY2019Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5000
CY2019Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
222000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
-590824000
us-gaap Net Income Loss
NetIncomeLoss
-309275000
us-gaap Net Income Loss
NetIncomeLoss
59158000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
50700000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
74269000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
252382000
tgi Amortization Of Acquired Contract Liabilities
AmortizationOfAcquiredContractLiabilities
28150000
tgi Amortization Of Acquired Contract Liabilities
AmortizationOfAcquiredContractLiabilities
39556000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-747000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
4829000
tgi Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments And Special Termination Benefits
DefinedBenefitPlanRecognizedNetGainLossDueToCurtailmentsAndSpecialTerminationBenefits
14373000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
19721000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6955000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4689000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1140000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
15159000
us-gaap Share Based Compensation
ShareBasedCompensation
5407000
us-gaap Share Based Compensation
ShareBasedCompensation
5290000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-33930000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
26945000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
41807000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2938000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
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us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
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us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
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us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-30483000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
878000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-21000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-239723000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10593000
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
12804000
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
16995000
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-1521000
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
574000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11283000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17569000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-400000000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
713900000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
17342000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
16275000
us-gaap Payments Of Dividends
PaymentsOfDividends
4001000
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-33923000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
495000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-17428000
CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-803481000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1048000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
203220000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-38386000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2534000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-67955000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
485463000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
92807000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
440211000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
24852000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q3 tgi Defined Benefit Plan Percentage Of Fair Value Of Investments Of Other Pension Assets Assets
DefinedBenefitPlanPercentageOfFairValueOfInvestmentsOfOtherPensionAssetsAssets
0.56
CY2020Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-12427000
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-24843000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-32657000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-307590000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
832000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1685000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-33489000
us-gaap Net Income Loss
NetIncomeLoss
-309275000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.95
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.95
CY2020Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-4265000
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-8530000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13778000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
21062000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-19711000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-288213000
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-725386000
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1112756000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
-1064357000
CY2019Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-27824000
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-41226000
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
53461000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
74883000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11227000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15725000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
42234000
us-gaap Net Income Loss
NetIncomeLoss
59158000
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.84
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
CY2019Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
68852000
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-76157000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-76586000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
-781264000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1281000
us-gaap Operating Lease Payments
OperatingLeasePayments
9300000
tgi Contract With Customer Asset Liability Net Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetLiabilityNetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
27740000
CY2020Q3 tgi Contract Assets Classified As Held For Sale
ContractAssetsClassifiedAsHeldForSale
38355000
CY2020Q3 tgi Contract Liabilities Classified As Held For Sale
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<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Arial;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p>
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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Arial;font-weight:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 16% and 21% of total trade accounts receivable as of September 30, 2020 and March 31, 2020, respectively. Trade and other accounts receivable from Bombardier Inc. ("Bombardier") include receivables from transition services and represented approximately 13% and 16% as of September 30, 2020 and March 31, 2020, respectively. The Company had no other concentrations of credit risk of more than 10%.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Sales to Boeing for the six months ended September 30, 2020, were $361,770, or 37% of net sales, of which $104,547 and $257,224 were from the Systems &amp; Support and Aerospace Structures, respectively. Sales to Boeing for the six months ended September 30, 2019, were $510,934, or 34% of net sales, of which $128,477 and $382,457 were from the Systems &amp; Support and Aerospace Structures, respectively. The percentage increase in sales to Boeing as compared with the prior period is driven entirely by military sales.  </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Sales to Gulfstream Aerospace Corporation (“Gulfstream”) for the six months ended September 30, 2020, were $90,203, or 9% of net sales, of which $1,764 and $88,440 were from the Systems &amp; Support and Aerospace Structures, respectively. Sales to Gulfstream for the six months ended September 30, 2019, were $187,689, or 12% of net sales, of which $1,716 and $185,973 were from the Systems &amp; Support and Aerospace Structures, respectively.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">No other single customer accounted for more than 10% of the Company’s net sales. However, the loss of any significant customer, including Boeing and Gulfstream, could have a material adverse effect on the Company and its operating subsidiaries.</p>
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tgi-ex181_323.htm Edgar Link pending
tgi-ex221_233.htm Edgar Link pending
tgi-ex311_10.htm Edgar Link pending
tgi-ex312_7.htm Edgar Link pending
tgi-ex321_6.htm Edgar Link pending
tgi-ex322_11.htm Edgar Link pending