2020 Q3 Form 10-Q Financial Statement

#000160466520000022 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $232.0M $238.5M $270.1M
YoY Change -7.18% -11.69% -10.57%
Cost Of Revenue $131.6M $148.5M $178.1M
YoY Change -16.04% -16.64% -13.06%
Gross Profit $100.4M $90.03M $91.96M
YoY Change 7.69% -2.1% -5.31%
Gross Profit Margin 43.28% 37.75% 34.05%
Selling, General & Admin $6.255M $6.139M $7.639M
YoY Change -8.31% -19.64% 3.58%
% of Gross Profit 6.23% 6.82% 8.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.91M $22.71M $22.23M
YoY Change 2.69% 2.19% 0.83%
% of Gross Profit 22.82% 25.23% 24.17%
Operating Expenses $6.255M $6.139M $7.639M
YoY Change -8.31% -19.64% 3.58%
Operating Profit $94.14M $83.89M $84.32M
YoY Change 8.96% -0.51% -6.04%
Interest Expense -$2.300M -$3.400M -$5.100M
YoY Change -47.73% -33.33% -7.27%
% of Operating Profit -2.44% -4.05% -6.05%
Other Income/Expense, Net $17.00K $123.0K $1.153M
YoY Change -96.99% -89.33% 97.77%
Pretax Income $91.83M $80.58M $80.35M
YoY Change 11.24% 0.29% -5.23%
Income Tax -$15.00K $206.0K $237.0K
% Of Pretax Income -0.02% 0.26% 0.29%
Net Earnings $18.54M $14.86M $13.73M
YoY Change 24.21% 8.21% 7.65%
Net Earnings / Revenue 7.99% 6.23% 5.09%
Basic Earnings Per Share
Diluted Earnings Per Share $525.6K $423.3K $389.2K
COMMON SHARES
Basic Shares Outstanding 35.19M shares 35.19M shares 35.19M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.30M $23.60M $17.50M
YoY Change 25.27% 34.86% -38.6%
Cash & Equivalents $23.33M $23.62M $17.47M
Short-Term Investments
Other Short-Term Assets $600.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Inventory $1.652M $1.529M $4.029M
Prepaid Expenses
Receivables $5.144M $7.007M $199.5M
Other Receivables $0.00 $866.0K $1.256M
Total Short-Term Assets $278.2M $246.0M $222.4M
YoY Change 17.2% 10.62% -8.4%
LONG-TERM ASSETS
Property, Plant & Equipment $1.061B $1.077B $1.129B
YoY Change -4.69% -4.57% -3.77%
Goodwill $5.814M $5.814M $5.814M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $37.50M $39.80M $53.70M
YoY Change -26.33% -25.88% -23.61%
Total Long-Term Assets $1.104B $1.123B $1.189B
YoY Change -5.61% -5.51% -4.87%
TOTAL ASSETS
Total Short-Term Assets $278.2M $246.0M $222.4M
Total Long-Term Assets $1.104B $1.123B $1.189B
Total Assets $1.382B $1.369B $1.411B
YoY Change -1.76% -2.97% -5.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.816M $8.846M $8.030M
YoY Change 46.77% 10.16% 8.66%
Accrued Expenses $16.96M $16.81M $18.29M
YoY Change -26.17% -8.09% -3.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $41.69M $31.09M $36.31M
YoY Change 1.85% -14.38% -23.74%
LONG-TERM LIABILITIES
Long-Term Debt $399.7M $399.7M $399.7M
YoY Change 0.0% 0.0% -16.31%
Other Long-Term Liabilities $555.0K $740.0K $1.110M
YoY Change -73.34% -33.33% 660.27%
Total Long-Term Liabilities $555.0K $740.0K $1.110M
YoY Change -73.34% -33.33% 660.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.69M $31.09M $36.31M
Total Long-Term Liabilities $555.0K $740.0K $1.110M
Total Liabilities $443.5M $433.2M $438.8M
YoY Change -0.2% -1.28% -16.85%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $278.9M $276.9M $277.8M
YoY Change
Total Liabilities & Shareholders Equity $1.382B $1.369B $1.411B
YoY Change -1.76% -2.97% -5.45%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $18.54M $14.86M $13.73M
YoY Change 24.21% 8.21% 7.65%
Depreciation, Depletion And Amortization $22.91M $22.71M $22.23M
YoY Change 2.69% 2.19% 0.83%
Cash From Operating Activities $117.2M $112.7M $100.2M
YoY Change -3.54% 12.48% -12.41%
INVESTING ACTIVITIES
Capital Expenditures -$8.600M -$8.600M -$13.50M
YoY Change 95.45% -36.3% 95.65%
Acquisitions
YoY Change
Other Investing Activities -$20.00M -$10.00M $135.5M
YoY Change -16.67% -107.38% -1657.47%
Cash From Investing Activities -$28.60M -$18.60M $122.1M
YoY Change 0.35% -115.23% -877.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -88.90M -94.60M -289.4M
YoY Change -3.26% -67.31% 204.31%
NET CHANGE
Cash From Operating Activities 117.2M 112.7M 100.2M
Cash From Investing Activities -28.60M -18.60M 122.1M
Cash From Financing Activities -88.90M -94.60M -289.4M
Net Change In Cash -300.0K -500.0K -67.10M
YoY Change -127.27% -99.25% -1963.89%
FREE CASH FLOW
Cash From Operating Activities $117.2M $112.7M $100.2M
Capital Expenditures -$8.600M -$8.600M -$13.50M
Free Cash Flow $125.8M $121.3M $113.7M
YoY Change -0.08% 6.68% -6.27%

Facts In Submission

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0 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
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us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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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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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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OtherReceivablesNetCurrent
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CY2019Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2154000 USD
CY2020Q2 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
330000 USD
CY2019Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
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CY2020Q2 us-gaap Inventory Net
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CY2019Q4 us-gaap Inventory Net
InventoryNet
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CY2020Q2 us-gaap Depreciation
Depreciation
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CY2019Q2 us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
45467000 USD
us-gaap Depreciation
Depreciation
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CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
14860000 USD
CY2019Q2 us-gaap Net Income Loss
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13733000 USD
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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CY2020Q2 us-gaap Undistributed Earnings
UndistributedEarnings
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CY2019Q2 us-gaap Undistributed Earnings
UndistributedEarnings
-2380000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
-574000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
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CY2020Q2 us-gaap Distributed Earnings
DistributedEarnings
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CY2020Q2 us-gaap Undistributed Earnings
UndistributedEarnings
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CY2020Q2 us-gaap Net Income Loss
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CY2020Q2 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
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35194545 shares
CY2019Q2 us-gaap Distributed Earnings
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16113000 USD
CY2019Q2 us-gaap Undistributed Earnings
UndistributedEarnings
-2380000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
13733000 USD
CY2019Q2 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35188189 shares
us-gaap Distributed Earnings
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us-gaap Undistributed Earnings
UndistributedEarnings
-574000 USD
us-gaap Net Income Loss
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us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
35194545 shares
us-gaap Distributed Earnings
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31779000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
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us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
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33774647 shares
CY2020Q2 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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0.4714
CY2019Q2 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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0.4452
us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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0.9428
us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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0.8780
CY2018Q4 wlkp Partners Units Maximum Aggregate Offering Amount Atm
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50000 USD
CY2019Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2020Q2 us-gaap Revenue From Related Parties
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CY2019Q2 us-gaap Revenue From Related Parties
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us-gaap Revenue From Related Parties
RevenueFromRelatedParties
442259000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
487087000 USD
CY2019Q4 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
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162773000 USD
CY2020Q2 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
5440000 USD
CY2019Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
15201000 USD
CY2019Q4 us-gaap Derivative Nonmonetary Notional Amount Volume
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39100000 gal
CY2020Q1 us-gaap Derivative Nonmonetary Notional Amount Volume
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15100000 gal
CY2020Q1 us-gaap Derivative Nonmonetary Notional Amount Mass
DerivativeNonmonetaryNotionalAmountMass
36000000.0 lb
CY2019Q4 us-gaap Derivative Nonmonetary Notional Amount Mass
DerivativeNonmonetaryNotionalAmountMass
93000000.0 lb
CY2020Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
385000 USD
wlkp Siteleaseagreementnumber
Siteleaseagreementnumber
2
wlkp Siteleaseagreementsterminyears
Siteleaseagreementsterminyears
50
CY2020Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 USD
CY2019Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 USD
CY2020Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 USD
CY2019Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
399674000 USD
CY2019Q2 us-gaap Repayments Of Debt
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201445000 USD
CY2020Q2 us-gaap Longterm Debt Weighted Average Interest Rate
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0.034
CY2019Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.041
CY2020Q2 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
810000 USD
CY2019Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1959000 USD
CY2019Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
597000 USD
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16807000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17507000 USD
CY2020Q2 us-gaap Interest Payable Current
InterestPayableCurrent
3431000 USD
CY2020Q2 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
4770000 USD
CY2020Q2 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
3411000 USD
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
4187000 USD
CY2019Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
2611000 USD
CY2019Q4 wlkp Accrued Maintenance Costs Current
AccruedMaintenanceCostsCurrent
3225000 USD
wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
182000 USD
wlkp Increase Decreasein Capital Expenditure Accrual
IncreaseDecreaseinCapitalExpenditureAccrual
567000 USD

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