2016 Q1 Form 10-K Financial Statement

#000119312516521419 Filed on March 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 2014 Q1
Revenue $245.4M $1.180B $181.8M
YoY Change 18.52% 10.52% -1.45%
Cost Of Revenue $195.9M $975.0M $170.6M
YoY Change 8.47% 11.39% 0.41%
Gross Profit $49.50M $205.1M $12.69M
YoY Change 100.55% 6.53% -13.67%
Gross Profit Margin 20.17% 17.38% 6.98%
Selling, General & Admin $50.80M $156.3M $45.00M
YoY Change 48.1% 16.84% 129.59%
% of Gross Profit 102.62% 76.22% 354.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.200M $50.14M $2.300M
YoY Change 0.0% 3.95% 21.05%
% of Gross Profit 4.44% 24.44% 18.12%
Operating Expenses $52.90M $156.3M $47.30M
YoY Change 44.93% 16.84% 120.0%
Operating Profit -$3.396M $38.66M -$34.61M
YoY Change -71.26% -24.88% 408.97%
Interest Expense -$6.700M -$19.37M -$4.800M
YoY Change 8.06% 2.98% -21.31%
% of Operating Profit -50.1%
Other Income/Expense, Net $3.900M -$14.37M $700.0K
YoY Change -150.65% -1320.9% 600.0%
Pretax Income -$6.400M -$4.381M -$41.40M
YoY Change -73.11% -120.88% 193.62%
Income Tax $300.0K $6.284M -$22.10M
% Of Pretax Income
Net Earnings -$12.12M -$7.827M -$14.21M
YoY Change -15.35% -201.23% 30.37%
Net Earnings / Revenue -4.94% -0.66% -7.81%
Basic Earnings Per Share -$0.24 -$0.38 -$0.41
Diluted Earnings Per Share -$0.24 -$0.38 -$0.41
COMMON SHARES
Basic Shares Outstanding 54.24M shares 51.34M
Diluted Shares Outstanding 51.34M

Balance Sheet

Concept 2016 Q1 2015 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.600M $3.600M $3.900M
YoY Change 83.33% -7.69%
Cash & Equivalents $6.555M $3.931M
Short-Term Investments
Other Short-Term Assets $15.70M $22.50M $14.50M
YoY Change -30.22% 55.17%
Inventory $230.5M $260.6M $259.9M
Prepaid Expenses
Receivables $186.9M $154.3M $148.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $439.6M $441.0M $426.6M
YoY Change -0.32% 3.38%
LONG-TERM ASSETS
Property, Plant & Equipment $391.7M $375.8M $350.4M
YoY Change 4.24% 7.25%
Goodwill $100.9M $88.02M
YoY Change 2.24% 0.05%
Intangibles $59.87M $59.19M
YoY Change 3.12%
Long-Term Investments $13.19M $25.00M $23.62M
YoY Change -47.33% 5.93% 7.88%
Other Assets $45.26M $28.90M $65.45M
YoY Change -26.01% -7.67%
Total Long-Term Assets $597.8M $593.7M $555.9M
YoY Change 0.68% 5.45%
TOTAL ASSETS
Total Short-Term Assets $439.6M $441.0M $426.6M
Total Long-Term Assets $597.8M $593.7M $555.9M
Total Assets $1.037B $1.035B $982.5M
YoY Change 0.25% 4.56% 3.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.6M $111.9M $111.0M
YoY Change 6.89% 0.81%
Accrued Expenses $65.10M $54.30M $43.10M
YoY Change 19.89% 25.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $35.87M $25.30M $11.15M
YoY Change 274.43% 7.66%
Total Short-Term Liabilities $252.2M $197.6M $185.6M
YoY Change 27.62% 6.47%
LONG-TERM LIABILITIES
Long-Term Debt $312.2M $435.8M $442.9M
YoY Change -20.01% -8.69%
Other Long-Term Liabilities $37.92M $28.60M $32.17M
YoY Change 32.79% -11.18%
Total Long-Term Liabilities $350.1M $464.4M $475.1M
YoY Change -16.41% -8.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $252.2M $197.6M $185.6M
Total Long-Term Liabilities $350.1M $464.4M $475.1M
Total Liabilities $723.1M $743.0M $761.3M
YoY Change -0.48% -4.73%
SHAREHOLDERS EQUITY
Retained Earnings -$101.8M -$2.412M
YoY Change 47.27%
Common Stock $751.5M $11.96M
YoY Change 5.34%
Preferred Stock
YoY Change
Treasury Stock (at cost) $441.0M $448.4M
YoY Change -0.91%
Treasury Stock Shares
Shareholders Equity $187.5M $291.7M -$433.3M
YoY Change
Total Liabilities & Shareholders Equity $1.037B $1.035B $989.6M
YoY Change 0.25% 4.56%

Cashflow Statement

Concept 2016 Q1 2015 2014 Q1
OPERATING ACTIVITIES
Net Income -$12.12M -$7.827M -$14.21M
YoY Change -15.35% -201.23% 30.37%
Depreciation, Depletion And Amortization $2.200M $50.14M $2.300M
YoY Change 0.0% 3.95% 21.05%
Cash From Operating Activities $5.900M $74.38M -$15.70M
YoY Change -137.11% 2.72% -203.29%
INVESTING ACTIVITIES
Capital Expenditures -$14.90M $32.08M -$13.80M
YoY Change 37.96% -21.63% 305.88%
Acquisitions $36.39M
YoY Change
Other Investing Activities $1.300M $600.0K $5.200M
YoY Change -103.62% -15.01% 642.86%
Cash From Investing Activities -$13.60M -$76.10M -$8.600M
YoY Change -70.88% 96.64% 218.52%
FINANCING ACTIVITIES
Cash Dividend Paid $7.869M
YoY Change -93.16%
Common Stock Issuance & Retirement, Net $3.000K
YoY Change -99.72%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.800M 1.800M 22.90M
YoY Change -87.73% -105.79% -249.67%
NET CHANGE
Cash From Operating Activities 5.900M 74.38M -15.70M
Cash From Investing Activities -13.60M -76.10M -8.600M
Cash From Financing Activities 6.800M 1.800M 22.90M
Net Change In Cash -900.0K 74.38M -1.400M
YoY Change -87.5% 2.72% -50.0%
FREE CASH FLOW
Cash From Operating Activities $5.900M $74.38M -$15.70M
Capital Expenditures -$14.90M $32.08M -$13.80M
Free Cash Flow $20.80M $42.30M -$1.900M
YoY Change -507.84% 34.38% -110.22%

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1748000
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76000
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5229000
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611000
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111862000
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1591000
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118000
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385000
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CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Entity Registrant Name
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ADVANCED DRAINAGE SYSTEMS, INC.
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015 dei Trading Symbol
TradingSymbol
WMS
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CY2015 dei Entity Filer Category
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Non-accelerated Filer
CY2015 dei Entity Voluntary Filers
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No
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0.025 pure
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <b>Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> The preparation of our consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (&#x201C;GAAP&#x201D;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingencies and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Significant estimates include, but are not limited to, our allowance for doubtful accounts, inventory, useful lives of our property, plant and equipment and amortizing intangible assets, determination of the proper accounting for leases, accounting for investments, evaluation of goodwill, intangible assets and other long-lived assets for impairment, accounting for stock-based compensation and our ESOP, valuation of our Redeemable common stock and Redeemable convertible preferred stock, determination of allowances for sales returns, rebates and discounts, determination of the valuation allowance, if any, on deferred tax assets, and reserves for uncertain tax positions. Management&#x2019;s estimates and assumptions are evaluated on an ongoing basis and are based on historical experience, current conditions and available information. Management believes the accounting estimates are appropriate and reasonably determined; however, due to the inherent uncertainties in making these estimates, actual results could differ from those estimates.</p> </div>
CY2015 dei Document Period End Date
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2015-03-31
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0.006 pure
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-0.06
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false
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--03-31
CY2015 dei Document Fiscal Year Focus
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2015
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51344000 shares
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0.002 pure
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0.08
CY2015 dei Entity Central Index Key
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0001604028
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CY2015 dei Document Fiscal Period Focus
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FY
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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4454000 shares
CY2015 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <b>Concentrations of Risk</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> We have a large, active customer base of over 18,000 customers with one customer representing more than 10% of annual net sales. Such customer accounted for 10.7%, 10.6% and 9.7% of fiscal year 2015, 2014 and 2013 net sales, respectively. Our customer base is diversified across the range of end markets that we serve.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of Receivables. The Company provides its products to customers based on an evaluation of the customers&#x2019; financial condition, generally without requiring collateral. Exposure to losses on Receivables is principally dependent on each customer&#x2019;s financial condition. The Company performs ongoing credit evaluations of its customers. The Company monitors the exposure for credit losses and maintains allowances for anticipated losses. Concentrations of credit risk with respect to Receivables are limited due to the large number of customers comprising the Company&#x2019;s customer base and their dispersion across many different geographies although one customer accounts for approximately 14% of our receivables at March&#xA0;31, 2015.</p> </div>
CY2015 us-gaap Debt Instrument Interest Rate Terms
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ADS Mexicana loaned $5,000 to an entity owned by a Grupo Altima owner and such loan was repaid the same month. The applicable interest rate for the loan was 2.35%.
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0.076 pure
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0.165 pure
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2 Segment
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1914000
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1986000
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291000
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-7746000
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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36385000
CY2015 dei Entity Current Reporting Status
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Yes
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51344000 shares
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UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
336000
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0
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