$TSE
Trinseo PLC

2021 Q4 Form 10-Q Financial Statement

#000155837021015008 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $1.299B $1.269B $1.274B
YoY Change 69.05% 86.88% 138.39%
Cost Of Revenue $1.177B $1.101B $1.054B
YoY Change 65.62% 92.18% 106.24%
Gross Profit $121.6M $168.3M $220.0M
YoY Change -9.05% 58.33% 840.17%
Gross Profit Margin 9.36% 13.26% 17.27%
Selling, General & Admin $93.00M $76.40M $97.30M
YoY Change 48.09% 65.01% 83.93%
% of Gross Profit 76.48% 45.4% 44.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $56.50M $49.80M $28.30M
YoY Change 73.85% 62.21% -18.68%
% of Gross Profit 46.46% 29.59% 12.86%
Operating Expenses $93.00M $76.40M $97.30M
YoY Change 48.09% 65.01% 83.93%
Operating Profit $47.20M $107.8M $151.0M
YoY Change -53.63% 37.68% -1100.0%
Interest Expense -$300.0K -$23.00M -$21.60M
YoY Change -102.33% 130.0% 84.62%
% of Operating Profit -0.64% -21.34% -14.3%
Other Income/Expense, Net -$1.100M $100.0K -$5.600M
YoY Change -147.83% -108.33% 1300.0%
Pretax Income $23.40M $84.90M $156.2M
YoY Change -74.76% 26.53% -674.26%
Income Tax $22.00M $5.500M $23.30M
% Of Pretax Income 94.02% 6.48% 14.92%
Net Earnings $123.8M $93.10M $151.6M
YoY Change 85.61% -12.0% -218.07%
Net Earnings / Revenue 9.53% 7.33% 11.9%
Basic Earnings Per Share $3.20 $2.39 $3.91
Diluted Earnings Per Share $3.14 $2.36 $3.82
COMMON SHARES
Basic Shares Outstanding 38.84M 38.80M 38.80M
Diluted Shares Outstanding 39.50M 39.60M

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $573.0M $207.5M $367.0M
YoY Change -2.67% -58.77% -36.92%
Cash & Equivalents $573.0M $207.5M $367.0M
Short-Term Investments
Other Short-Term Assets $44.30M $40.00M $30.20M
YoY Change 193.38% 93.24% 147.54%
Inventory $621.0M $617.3M $562.9M
Prepaid Expenses
Receivables $740.2M $762.7M $769.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.979B $2.007B $2.112B
YoY Change 30.41% 47.23% 57.68%
LONG-TERM ASSETS
Property, Plant & Equipment $804.3M $795.5M $722.5M
YoY Change 18.33% 21.1% 25.98%
Goodwill $710.1M $719.9M $623.5M
YoY Change 1043.48% 918.25% 820.97%
Intangibles
YoY Change
Long-Term Investments $247.8M $250.3M $253.2M
YoY Change 3.21% 8.54% 19.27%
Other Assets $147.7M $150.2M $144.0M
YoY Change -2.38% 5.55% 5.49%
Total Long-Term Assets $2.734B $2.757B $2.393B
YoY Change 105.84% 114.79% 91.45%
TOTAL ASSETS
Total Short-Term Assets $1.979B $2.007B $2.112B
Total Long-Term Assets $2.734B $2.757B $2.393B
Total Assets $4.712B $4.764B $4.505B
YoY Change 65.62% 79.99% 73.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $590.3M $507.9M $495.1M
YoY Change 66.09% 84.69% 131.79%
Accrued Expenses $253.5M $234.5M $187.1M
YoY Change 62.92% 43.25% 23.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $18.50M $149.1M $19.10M
YoY Change 51.64% 1092.8% 63.25%
Total Short-Term Liabilities $914.4M $1.005B $814.0M
YoY Change 71.46% 119.55% 86.87%
LONG-TERM LIABILITIES
Long-Term Debt $2.306B $2.308B $2.310B
YoY Change 99.08% 99.01% 83.15%
Other Long-Term Liabilities $306.7M $365.7M $394.6M
YoY Change -22.35% 1.56% 22.39%
Total Long-Term Liabilities $2.785B $2.837B $2.861B
YoY Change 61.75% 72.84% 68.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $914.4M $1.005B $814.0M
Total Long-Term Liabilities $2.785B $2.837B $2.861B
Total Liabilities $3.699B $3.842B $3.675B
YoY Change 64.05% 83.03% 72.5%
SHAREHOLDERS EQUITY
Retained Earnings $741.8M $1.036B $955.8M
YoY Change 0.35% 53.4% 63.27%
Common Stock $468.5M $582.7M $579.2M
YoY Change -19.24% 0.6% 0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.013B $922.0M $829.8M
YoY Change
Total Liabilities & Shareholders Equity $4.712B $4.764B $4.505B
YoY Change 65.62% 79.99% 73.98%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $123.8M $93.10M $151.6M
YoY Change 85.61% -12.0% -218.07%
Depreciation, Depletion And Amortization $56.50M $49.80M $28.30M
YoY Change 73.85% 62.21% -18.68%
Cash From Operating Activities $214.5M $208.2M -$21.00M
YoY Change 67.97% 301.16% -125.74%
INVESTING ACTIVITIES
Capital Expenditures -$53.00M -$34.70M -$17.40M
YoY Change 147.66% 173.23% -27.2%
Acquisitions
YoY Change
Other Investing Activities $402.4M -$448.9M -$1.376B
YoY Change -7416.36% -687850.0%
Cash From Investing Activities $349.4M -$483.6M -$1.393B
YoY Change -1398.88% 3707.87% 5777.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -197.1M 117.9M 704.1M
YoY Change 926.56% -198.66% 768.19%
NET CHANGE
Cash From Operating Activities 214.5M 208.2M -21.00M
Cash From Investing Activities 349.4M -483.6M -1.393B
Cash From Financing Activities -197.1M 117.9M 704.1M
Net Change In Cash 366.8M -157.5M -709.8M
YoY Change 349.51% 96.14% -610.65%
FREE CASH FLOW
Cash From Operating Activities $214.5M $208.2M -$21.00M
Capital Expenditures -$53.00M -$34.70M -$17.40M
Free Cash Flow $267.5M $242.9M -$3.600M
YoY Change 79.41% 276.01% -103.41%

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us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:24.5pt;margin:6pt 0pt 0pt 0pt;">Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications pertain primarily to the Company’s entry into an agreement during the second quarter of 2021 to sell its Synthetic Rubber business, as a result of which the Company reclassified its Synthetic Rubber assets and liabilities as held-for-sale and reclassified the operating results of its Synthetic Rubber business, net of taxes, as discontinued operations for all periods presented. Refer to Note 4 for further information. Throughout this Quarterly Report, unless otherwise indicated, amounts and activity are presented on a continuing operations basis. Additionally, the condensed consolidated financial statements herein reflect reclassifications related to the Company’s resegmentation effective October 1, 2020, as described in Note 16.</p>
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us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Inventory
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CY2021Q3 us-gaap Net Income Loss
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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