$VVV
VALVOLINE INC

2018 Q4 Form 10-Q Financial Statement

#000167491019000039 Filed on February 07, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4 2017 Q3
Revenue $557.0M $545.0M $547.0M
YoY Change 2.2% 11.45% 10.73%
Cost Of Revenue $374.0M $350.0M $349.0M
YoY Change 6.86% 15.13% 16.33%
Gross Profit $183.0M $195.0M $196.0M
YoY Change -6.15% 5.41% 1.03%
Gross Profit Margin 32.85% 35.78% 35.83%
Selling, General & Admin $105.0M $107.0M $7.000M
YoY Change -1.87% 12.63% -91.05%
% of Gross Profit 57.38% 54.87% 3.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.00M $11.00M $12.00M
YoY Change 27.27% 22.22% 27.66%
% of Gross Profit 7.65% 5.64% 6.12%
Operating Expenses $105.0M $107.0M $7.000M
YoY Change -1.87% 12.63% -91.05%
Operating Profit $87.00M $88.00M $113.0M
YoY Change -1.14% -6.38% -4.24%
Interest Expense -$17.00M -$14.00M -$9.000M
YoY Change 21.43% 40.0% 45.16%
% of Operating Profit -19.54% -15.91% -7.96%
Other Income/Expense, Net $11.00M $19.00M
YoY Change -42.11% -47.22%
Pretax Income $72.00M $84.00M $177.0M
YoY Change -14.29% -23.64% 62.68%
Income Tax $19.00M $71.00M $72.00M
% Of Pretax Income 26.39% 84.52% 40.68%
Net Earnings $53.00M -$10.00M $105.0M
YoY Change -630.0% -113.89% 61.54%
Net Earnings / Revenue 9.52% -1.83% 19.2%
Basic Earnings Per Share $0.28 -$0.05 $0.52
Diluted Earnings Per Share $0.28 -$0.05 $0.52
COMMON SHARES
Basic Shares Outstanding 188.0M shares 202.0M shares 202.6M shares
Diluted Shares Outstanding 189.0M shares 202.0M shares

Balance Sheet

Concept 2018 Q4 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $99.00M $115.0M $201.0M
YoY Change -13.91% -51.27% 16.86%
Cash & Equivalents $99.00M $115.0M $201.0M
Short-Term Investments
Other Short-Term Assets $38.00M $32.00M $29.00M
YoY Change 18.75% 10.34% -48.21%
Inventory $190.0M $170.0M $175.0M
Prepaid Expenses
Receivables $376.0M $418.0M $385.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $668.0M $735.0M $790.0M
YoY Change -9.12% -3.16% 8.22%
LONG-TERM ASSETS
Property, Plant & Equipment $428.0M $384.0M $391.0M
YoY Change 11.46% 16.01% 20.68%
Goodwill $400.0M $360.0M $330.0M
YoY Change 11.11% 25.0%
Intangibles
YoY Change
Long-Term Investments $32.00M $33.00M $30.00M
YoY Change -3.03% 10.0% 15.38%
Other Assets $97.00M $86.00M $88.00M
YoY Change 12.79% -3.37% -1.12%
Total Long-Term Assets $1.164B $1.092B $1.125B
YoY Change 6.59% -1.27% 2.74%
TOTAL ASSETS
Total Short-Term Assets $668.0M $735.0M $790.0M
Total Long-Term Assets $1.164B $1.092B $1.125B
Total Assets $1.832B $1.827B $1.915B
YoY Change 0.27% -2.04% 4.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $152.0M $141.0M $192.0M
YoY Change 7.8% -3.42% 8.47%
Accrued Expenses $198.0M $208.0M $196.0M
YoY Change -4.81% -19.07% -3.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $75.00M
YoY Change -100.0%
Long-Term Debt Due $30.00M $19.00M $15.00M
YoY Change 57.89% 26.67% -21.05%
Total Short-Term Liabilities $380.0M $368.0M $478.0M
YoY Change 3.26% -25.35% 19.5%
LONG-TERM LIABILITIES
Long-Term Debt $1.291B $1.147B $1.034B
YoY Change 12.55% 76.46% 42.82%
Other Long-Term Liabilities $174.0M $175.0M $178.0M
YoY Change -0.57% 15.13% 24.48%
Total Long-Term Liabilities $1.795B $1.653B $1.554B
YoY Change 8.59% -0.3% -11.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $380.0M $368.0M $478.0M
Total Long-Term Liabilities $1.795B $1.653B $1.554B
Total Liabilities $2.175B $2.021B $2.032B
YoY Change 7.62% -6.04% -5.71%
SHAREHOLDERS EQUITY
Retained Earnings -$412.0M -$238.0M -$167.0M
YoY Change 73.11% -483.87%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$343.0M -$194.0M -$117.0M
YoY Change
Total Liabilities & Shareholders Equity $1.832B $1.827B $1.915B
YoY Change 0.27% -2.04% 4.93%

Cashflow Statement

Concept 2018 Q4 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $53.00M -$10.00M $105.0M
YoY Change -630.0% -113.89% 61.54%
Depreciation, Depletion And Amortization $14.00M $11.00M $12.00M
YoY Change 27.27% 22.22% 27.66%
Cash From Operating Activities $85.00M $20.00M -$287.0M
YoY Change 325.0% -77.27% -329.05%
INVESTING ACTIVITIES
Capital Expenditures $27.00M $14.00M -$25.00M
YoY Change 92.86% 55.56% -47.37%
Acquisitions $30.00M $60.00M
YoY Change -50.0%
Other Investing Activities -$1.000M $0.00 -$1.000M
YoY Change -100.0% -350.0%
Cash From Investing Activities -$56.00M -$74.00M -$26.00M
YoY Change -24.32% 640.0% -44.8%
FINANCING ACTIVITIES
Cash Dividend Paid $20.00M $15.00M
YoY Change 33.33% 50.0%
Common Stock Issuance & Retirement, Net $0.00 $37.00M
YoY Change -100.0%
Debt Paid & Issued, Net $101.0M $4.000M
YoY Change 2425.0% -94.94%
Cash From Financing Activities -$25.00M -$31.00M 382.0M
YoY Change -19.35% 93.75% 302.95%
NET CHANGE
Cash From Operating Activities $85.00M $20.00M -287.0M
Cash From Investing Activities -$56.00M -$74.00M -26.00M
Cash From Financing Activities -$25.00M -$31.00M 382.0M
Net Change In Cash $3.000M -$85.00M 69.00M
YoY Change -103.53% -237.1% -60.12%
FREE CASH FLOW
Cash From Operating Activities $85.00M $20.00M -$287.0M
Capital Expenditures $27.00M $14.00M -$25.00M
Free Cash Flow $58.00M $6.000M -$262.0M
YoY Change 866.67% -92.41% -251.62%

Facts In Submission

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CY2017Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
37000000 USD
CY2017Q4 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
15000000 USD
CY2017Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
15000000 USD
CY2017Q4 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4000000 USD
CY2017Q4 vvv Proceedsfrom Paymentsfor Other Financing Activities Other Intercompany Activity
ProceedsfromPaymentsforOtherFinancingActivitiesOtherIntercompanyActivity
0 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-31000000 USD
CY2017Q4 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1000000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-86000000 USD
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
201000000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
115000000 USD

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0001674910-19-000039.txt Edgar Link pending
0001674910-19-000039-xbrl.zip Edgar Link pending
exhibit311-certificati.htm Edgar Link pending
exhibit312-certificati.htm Edgar Link pending
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vvv-20181231_htm.xml Edgar Link completed
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