2022 Q1 Form 10-Q Financial Statement

#000153080422000009 Filed on April 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $965.0M $891.0M
YoY Change 8.31% 23.41%
Cost Of Revenue $733.0M $687.0M
YoY Change 6.7% 25.59%
Gross Profit $232.0M $206.0M
YoY Change 12.62% 17.71%
Gross Profit Margin 24.04% 23.12%
Selling, General & Admin $78.00M $81.00M
YoY Change -3.7% -13.83%
% of Gross Profit 33.62% 39.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.00M $84.00M
YoY Change -19.05% 18.31%
% of Gross Profit 29.31% 40.78%
Operating Expenses $78.00M $81.00M
YoY Change -3.7% -13.83%
Operating Profit $69.00M $125.0M
YoY Change -44.8% 58.23%
Interest Expense $32.00M $50.00M
YoY Change -36.0% 11.11%
% of Operating Profit 46.38% 40.0%
Other Income/Expense, Net -$4.000M -$10.00M
YoY Change -60.0% -200.0%
Pretax Income $34.00M $32.00M
YoY Change 6.25% -31.91%
Income Tax $18.00M $6.000M
% Of Pretax Income 52.94% 18.75%
Net Earnings $16.00M $19.00M
YoY Change -15.79% -40.63%
Net Earnings / Revenue 1.66% 2.13%
Basic Earnings Per Share $0.10 $0.13
Diluted Earnings Per Share $0.10 $0.12
COMMON SHARES
Basic Shares Outstanding 154.6M shares 147.1M shares
Diluted Shares Outstanding 159.6M shares 153.9M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $292.0M $759.0M
YoY Change -61.53% 80.71%
Cash & Equivalents $292.0M $759.0M
Short-Term Investments
Other Short-Term Assets $191.0M $171.0M
YoY Change 11.7% 37.9%
Inventory $1.050B $1.052B
Prepaid Expenses
Receivables $651.0M $652.0M
Other Receivables $5.000M $6.000M
Total Short-Term Assets $2.189B $2.640B
YoY Change -17.08% 22.34%
LONG-TERM ASSETS
Property, Plant & Equipment $2.619B $2.583B
YoY Change 1.39% 3.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $197.0M $177.0M
YoY Change 11.3% 12.03%
Total Long-Term Assets $4.026B $3.983B
YoY Change 1.08% 34.02%
TOTAL ASSETS
Total Short-Term Assets $2.189B $2.640B
Total Long-Term Assets $4.026B $3.983B
Total Assets $6.215B $6.623B
YoY Change -6.16% 29.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $490.0M $378.0M
YoY Change 29.63% 35.0%
Accrued Expenses $377.0M $308.0M
YoY Change 22.4% -10.98%
Deferred Revenue $6.000M $8.000M
YoY Change -25.0% 166.67%
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $16.00M $514.0M
YoY Change -96.89% 1613.33%
Total Short-Term Liabilities $923.0M $1.254B
YoY Change -26.4% 37.65%
LONG-TERM LIABILITIES
Long-Term Debt $2.567B $2.901B
YoY Change -11.51% -1.79%
Other Long-Term Liabilities $30.00M $33.00M
YoY Change -9.09% -23.26%
Total Long-Term Liabilities $30.00M $33.00M
YoY Change -9.09% -23.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $923.0M $1.254B
Total Long-Term Liabilities $30.00M $33.00M
Total Liabilities $4.086B $4.766B
YoY Change -14.27% 7.08%
SHAREHOLDERS EQUITY
Retained Earnings $659.0M $440.0M
YoY Change 49.77% -193.42%
Common Stock $2.051B $2.040B
YoY Change 0.54% 10.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.073B $1.812B
YoY Change
Total Liabilities & Shareholders Equity $6.215B $6.623B
YoY Change -6.16% 29.1%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $16.00M $19.00M
YoY Change -15.79% -40.63%
Depreciation, Depletion And Amortization $68.00M $84.00M
YoY Change -19.05% 18.31%
Cash From Operating Activities $189.0M $135.0M
YoY Change 40.0% -582.14%
INVESTING ACTIVITIES
Capital Expenditures -$103.0M -$58.00M
YoY Change 77.59% 52.63%
Acquisitions
YoY Change
Other Investing Activities $1.000M $1.000M
YoY Change 0.0%
Cash From Investing Activities -$102.0M -$57.00M
YoY Change 78.95% 50.0%
FINANCING ACTIVITIES
Cash Dividend Paid $1.000M $14.00M
YoY Change -92.86% 40.0%
Common Stock Issuance & Retirement, Net $25.00M $0.00
YoY Change
Debt Paid & Issued, Net $3.000M $2.260B
YoY Change -99.87% 32185.71%
Cash From Financing Activities -$29.00M $48.00M
YoY Change -160.42% -75.13%
NET CHANGE
Cash From Operating Activities $189.0M $135.0M
Cash From Investing Activities -$102.0M -$57.00M
Cash From Financing Activities -$29.00M $48.00M
Net Change In Cash $64.00M $119.0M
YoY Change -46.22% 0.85%
FREE CASH FLOW
Cash From Operating Activities $189.0M $135.0M
Capital Expenditures -$103.0M -$58.00M
Free Cash Flow $292.0M $193.0M
YoY Change 51.3% 1830.0%

Facts In Submission

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CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
36000000 USD
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2567000000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2558000000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
33000000 USD
CY2022Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
25000000 USD
CY2022Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
25000000 USD
CY2022Q1 trox Cash Flow Hedge Gain Loss To Be Reclassified Remainder Of The Year
CashFlowHedgeGainLossToBeReclassifiedRemainderOfTheYear
23000000 USD
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
149000000 USD
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
166000000 USD
CY2022Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
4000000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
3000000 USD
CY2022Q1 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
4000000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
-4000000 USD
CY2022Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
2000000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
2000000 USD
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
155000000 USD
CY2021Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
163000000 USD
CY2022Q1 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
9000000 USD
CY2021Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
10000000 USD
CY2022Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
18.03
CY2022Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
146000000 USD
CY2021Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
139000000 USD
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
155000000 USD
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
149000000 USD
CY2022Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
UnrecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
223000000 USD
CY2022Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
122000000 USD
CY2022Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
146000000 USD
CY2022Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
75000000 USD
CY2022Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
67000000 USD
CY2022Q1 trox Unrecorded Unconditional Purchase Obligation Due After Four Years
UnrecordedUnconditionalPurchaseObligationDueAfterFourYears
595000000 USD
CY2022Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
58000000 USD
CY2022Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
59000000 USD
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000 USD
CY2022Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1386221 shares
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25000000 USD
CY2022Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
275000000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
49000000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3251 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 USD
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
100000 USD

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