2017 Form 10-K Financial Statement

#000119312517234020 Filed on July 24, 2017

View on sec.gov

Income Statement

Concept 2017 2016 Q2 2016 Q1
Revenue $3.014B $714.7M $647.1M
YoY Change 6.89% -15.53% -19.6%
Cost Of Revenue $2.478B $580.2M $551.2M
YoY Change 4.69% -21.14% -21.96%
Gross Profit $535.9M $134.5M $95.92M
YoY Change 18.41% 21.9% -2.61%
Gross Profit Margin 17.78% 18.82% 14.82%
Selling, General & Admin $316.4M $78.60M $70.15M
YoY Change 6.38% 2.61% 5.07%
% of Gross Profit 59.04% 58.45% 73.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.27M $22.00M $20.70M
YoY Change 6.36% 0.92% -4.61%
% of Gross Profit 13.67% 16.36% 21.58%
Operating Expenses $316.4M $78.60M $70.15M
YoY Change 6.38% 2.61% 5.07%
Operating Profit $213.1M $55.88M $25.07M
YoY Change 74.61% 65.74% -148.17%
Interest Expense $29.80M $26.00M $7.886M
YoY Change -5.92% 157.43% -5.91%
% of Operating Profit 13.98% 46.53% 31.45%
Other Income/Expense, Net $4.300M $7.500M $3.300M
YoY Change 2.38% -933.33% 1550.0%
Pretax Income $297.1M $87.60M $45.49M
YoY Change 37.17% 140.0% -209.82%
Income Tax $79.19M $23.90M $11.34M
% Of Pretax Income 26.65% 27.28% 24.94%
Net Earnings $204.5M $58.52M $29.85M
YoY Change 42.31% 102.75% -216.09%
Net Earnings / Revenue 6.79% 8.19% 4.61%
Basic Earnings Per Share $3.28 $0.95 $0.48
Diluted Earnings Per Share $3.15 $0.92 $0.47
COMMON SHARES
Basic Shares Outstanding 62.44M 61.75M shares
Diluted Shares Outstanding 64.87M 63.87M shares

Balance Sheet

Concept 2017 2016 Q2 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $278.1M $84.20M $25.40M
YoY Change 230.29% 170.74% -40.24%
Cash & Equivalents $278.1M $84.19M $25.43M
Short-Term Investments $0.00
Other Short-Term Assets $73.40M $79.30M $90.00M
YoY Change -7.44% -20.62% -11.42%
Inventory $353.9M $319.3M $321.2M
Prepaid Expenses
Receivables $478.4M $421.8M $399.1M
Other Receivables $7.200M $10.50M $12.00M
Total Short-Term Assets $1.191B $915.1M $847.7M
YoY Change 30.15% -7.77% -24.71%
LONG-TERM ASSETS
Property, Plant & Equipment $570.5M $582.8M $539.0M
YoY Change -2.11% 13.57% 5.34%
Goodwill $246.1M $244.1M
YoY Change 2.96% 1.41%
Intangibles $96.16M $94.61M
YoY Change -19.27% -25.25%
Long-Term Investments $208.6M $191.8M $208.9M
YoY Change 8.76% -2.52% 6.7%
Other Assets $24.80M $29.25M $25.60M
YoY Change -15.36% 17.64% 23.7%
Total Long-Term Assets $1.134B $1.146B $1.112B
YoY Change -1.04% 5.14% 1.53%
TOTAL ASSETS
Total Short-Term Assets $1.191B $915.1M $847.7M
Total Long-Term Assets $1.134B $1.146B $1.112B
Total Assets $2.325B $2.061B $1.960B
YoY Change 12.81% -1.01% -11.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $367.2M $290.4M $262.4M
YoY Change 27.15% -1.26% -32.09%
Accrued Expenses $127.8M $45.06M $52.99M
YoY Change 6.32% -20.83% -9.62%
Deferred Revenue
YoY Change
Short-Term Debt $100.0K $2.651M $30.77M
YoY Change -96.3% -97.07% -75.0%
Long-Term Debt Due $6.700M $862.0K $857.0K
YoY Change 644.44% 2.5% 2.63%
Total Short-Term Liabilities $520.8M $430.1M $427.6M
YoY Change 21.09% -17.99% -34.41%
LONG-TERM LIABILITIES
Long-Term Debt $571.8M $577.5M $579.5M
YoY Change -0.99% -0.32% 0.62%
Other Long-Term Liabilities $124.5M $63.49M $62.01M
YoY Change 6.87% 8.96% 11.23%
Total Long-Term Liabilities $696.3M $641.0M $641.5M
YoY Change 0.33% 0.53% 1.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $520.8M $430.1M $427.6M
Total Long-Term Liabilities $696.3M $641.0M $641.5M
Total Liabilities $1.374B $1.141B $1.146B
YoY Change 8.34% -8.33% -16.33%
SHAREHOLDERS EQUITY
Retained Earnings $523.0M
YoY Change 2.39%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $951.6M $793.4M $719.8M
YoY Change
Total Liabilities & Shareholders Equity $2.325B $2.061B $1.960B
YoY Change 12.81% -1.15% -11.77%

Cashflow Statement

Concept 2017 2016 Q2 2016 Q1
OPERATING ACTIVITIES
Net Income $204.5M $58.52M $29.85M
YoY Change 42.31% 102.75% -216.09%
Depreciation, Depletion And Amortization $73.27M $22.00M $20.70M
YoY Change 6.36% 0.92% -4.61%
Cash From Operating Activities $335.7M $117.5M $106.2M
YoY Change -18.8% 57.3% 26.73%
INVESTING ACTIVITIES
Capital Expenditures $68.39M -$21.50M $14.97M
YoY Change -29.53% -6.52% -42.67%
Acquisitions $31.26M
YoY Change -42.53%
Other Investing Activities $5.400M -$100.0K -$34.50M
YoY Change -118.0% -100.96% -38.72%
Cash From Investing Activities -$62.96M -$21.60M -$49.50M
YoY Change -50.44% 71.43% -40.0%
FINANCING ACTIVITIES
Cash Dividend Paid $50.72M $11.91M
YoY Change 7.47% -4.83%
Common Stock Issuance & Retirement, Net $0.00 $25.61M
YoY Change -100.0% -49.51%
Debt Paid & Issued, Net $874.0K $216.0K
YoY Change 1.39% -99.79%
Cash From Financing Activities -78.82M -37.10M -58.60M
YoY Change -66.21% -49.52% 5.78%
NET CHANGE
Cash From Operating Activities 335.7M 117.5M 106.2M
Cash From Investing Activities -62.96M -21.60M -49.50M
Cash From Financing Activities -78.82M -37.10M -58.60M
Net Change In Cash 193.9M 58.80M -1.900M
YoY Change 265.0% -615.79% -96.49%
FREE CASH FLOW
Cash From Operating Activities $335.7M $117.5M $106.2M
Capital Expenditures $68.39M -$21.50M $14.97M
Free Cash Flow $267.3M $139.0M $91.23M
YoY Change -15.51% 42.27% 58.16%

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CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
65732000
CY2015 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
-1846000
CY2015 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
13270000
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
85089000
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
7178000
CY2015 us-gaap Inventory Write Down
InventoryWriteDown
1716000
CY2015 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
79047000
CY2015 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
295920000
CY2015 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-254000
CY2015 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-9365000
CY2015 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
15189000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-170318000
CY2015 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10471000
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
17219000
CY2015 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
2910000
CY2015 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
259000
CY2015 us-gaap Unusual Or Infrequent Item Loss Gross
UnusualOrInfrequentItemLossGross
243000
CY2015 us-gaap Unusual Or Infrequent Item Net Of Insurance Proceeds
UnusualOrInfrequentItemNetOfInsuranceProceeds
1005000
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20422000
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-159012000
CY2015 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
7974000
CY2015 us-gaap Cost Of Goods Sold
CostOfGoodsSold
2920701000
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2731000
CY2015 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1367000
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-83190000
CY2015 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
6952000
CY2015 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-8866000
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
30572000
CY2015 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
14007000
CY2015 wor Restructuring And Other Expense Income
RestructuringAndOtherExpenseIncome
6927000
CY2015 wor Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
102557000
CY2015 wor Equity Method Investment Summarized Financial Information Operating Income Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncomeLoss
193531000
CY2015 wor Retirement Plan Cost
RetirementPlanCost
13016000
CY2015 wor Effective Income Tax Rate Reconciliation Foreign Valuation Allowance
EffectiveIncomeTaxRateReconciliationForeignValuationAllowance
0.012 pure
CY2015 wor Equity Method Investment Summarized Financial Information Income Tax Expense Benefit
EquityMethodInvestmentSummarizedFinancialInformationIncomeTaxExpenseBenefit
10488000
CY2015 wor Equity Method Investment Summarized Financial Information Interest Expense
EquityMethodInvestmentSummarizedFinancialInformationInterestExpense
8695000
CY2015 wor Effective Income Tax Rate From Continuing Operations Including Noncontrolling Interests
EffectiveIncomeTaxRateFromContinuingOperationsIncludingNoncontrollingInterests
0.228 pure
CY2015 wor Equity Method Investment Summarized Financial Information Depreciation And Amortization
EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization
35662000
CY2015 wor Theoretical Common Shares In Nonqualified Deferred Compensation Plan
TheoreticalCommonSharesInNonqualifiedDeferredCompensationPlan
14560000
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100048 shares
CY2017 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0375 pure
CY2017 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2017 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017 dei Document Type
DocumentType
10-K
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.15
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.003 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.001 pure
CY2017 dei Entity Central Index Key
EntityCentralIndexKey
0000108516
CY2017 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
335672000
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y11M12D
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
16.90
CY2017 dei Trading Symbol
TradingSymbol
WOR
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64874000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62443000 shares
CY2017 dei Amendment Flag
AmendmentFlag
false
CY2017 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.00 pure
CY2017 us-gaap Defined Benefit Plan Investment Policies And Strategies Narrative Description
DefinedBenefitPlanInvestmentPoliciesAndStrategiesNarrativeDescription
The investment policy and strategy for the defined benefit plan is: (i) long-term in nature with liquidity requirements that are anticipated to be minimal due to the projected normal retirement date of the average employee and the current average age of participants
CY2017 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimate Of Time To Transfer1
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimateOfTimeToTransfer1
P12M
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.018 pure
CY2017 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
1606000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.021 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.010 pure
CY2017 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2017 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y5M20D
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
34000 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.60
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
11.57
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
29.95
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
42.30
CY2017 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2431000 shares
CY2017 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.80
CY2017 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-31
CY2017 us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<div> <p style="margin-top:18px;margin-bottom:0px; margin-left:4%"> <font style="font-family:Times New Roman" size="2"><b>Economic (Non-designated) Hedges</b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%" align="justify"><font style="font-family:Times New Roman" size="2">We enter into foreign currency contracts to manage our foreign exchange exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative instruments are adjusted to current market value at the end of each period through earnings.</font></p> </div>
CY2017 dei Document Period End Date
DocumentPeriodEndDate
2017-05-31
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.28
CY2017 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.019 pure
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
111000 shares
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
84000 shares
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1076000 shares
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2"><i>Use of Estimates:</i>&#xA0;&#xA0;&#xA0;&#xA0;The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (&#x201C;U.S. GAAP&#x201D;) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></p> </div>
CY2017 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-1135000
CY2017 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.0700 pure
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.279 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.005 pure
CY2017 dei Entity Registrant Name
EntityRegistrantName
WORTHINGTON INDUSTRIES INC
CY2017 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2017 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2017 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
34000 shares
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
13.84
CY2017 us-gaap Sales Revenue Net
SalesRevenueNet
3014108000
CY2017 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
56588000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
68386000
CY2017 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
15622000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
1158000
CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-2822000
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-805000
CY2017 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
3196000
CY2017 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
7669000
CY2017 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
2459000
CY2017 us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
0
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
213121000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
204515000
CY2017 us-gaap Interest Paid Net
InterestPaidNet
29826000
CY2017 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
8023000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
30905000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
266222000
CY2017 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1905000
CY2017 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
34599000
CY2017 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
752000
CY2017 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-7951000
CY2017 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
1614743000
CY2017 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
6166000
CY2017 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
218699000
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
205305000
CY2017 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13158000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
617000
CY2017 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
874000
CY2017 us-gaap Profit Loss
ProfitLoss
217937000
CY2017 us-gaap Payments For Restructuring
PaymentsForRestructuring
7421000
CY2017 us-gaap Payments Of Dividends
PaymentsOfDividends
50716000
CY2017 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3764000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax
-559000
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1342000
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
55652000
CY2017 us-gaap Gross Profit
GrossProfit
535905000
CY2017 us-gaap Equity Method Investment Summarized Financial Information Gross Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss
390729000
CY2017 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
250748000
CY2017 us-gaap Defined Benefit Plan Future Amortization Of Gain Loss
DefinedBenefitPlanFutureAmortizationOfGainLoss
-473000
CY2017 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1025000
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-9075000
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
762000
CY2017 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
220000
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-985000
CY2017 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
39927000
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
110038000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
297127000
CY2017 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
12191000
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14349000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
18177000
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
18443000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
476000
CY2017 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1527000
CY2017 us-gaap Depreciation
Depreciation
73268000
CY2017 us-gaap Dividends Cash
DividendsCash
51448000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
79190000
CY2017 us-gaap Interest Expense
InterestExpense
29796000
CY2017 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-62964000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2242000
CY2017 us-gaap Cost Of Goods Sold
CostOfGoodsSold
2478203000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2954000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
227000
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
36000
CY2017 us-gaap Advertising Expense
AdvertisingExpense
14822000
CY2017 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
9112000
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
50200000
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
7593000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
60747000
CY2017 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
-2224000
CY2017 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
294000
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
14542000
CY2017 us-gaap Depreciation And Amortization
DepreciationAndAmortization
86793000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
2926000
CY2017 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-2528000
CY2017 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-120000
CY2017 us-gaap Sales Discounts Returns And Allowances Goods
SalesDiscountsReturnsAndAllowancesGoods
6738000
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
316373000
CY2017 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
328000
CY2017 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2097000
CY2017 us-gaap Loss On Derivative Instruments Pretax
LossOnDerivativeInstrumentsPretax
0
CY2017 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
15622000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-78815000
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
13422000
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
13519000
CY2017 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
3485000
CY2017 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
-9075000
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
269000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
206000
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13525000
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
193893000
CY2017 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
13394000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-210000
CY2017 us-gaap Defined Benefit Plan Benefits Paid
DefinedBenefitPlanBenefitsPaid
1062000
CY2017 us-gaap Defined Benefit Plans Estimated Future Employer Contributions In Next Fiscal Year
DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear
0
CY2017 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
854000
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
67492000
CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
1700000
CY2017 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-542000
CY2017 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
5422000
CY2017 us-gaap Restructuring Charges
RestructuringCharges
5606000
CY2017 wor Restructuring And Other Expense Income
RestructuringAndOtherExpenseIncome
6411000
CY2017 wor Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
283705000
CY2017 wor Equity Method Investment Summarized Financial Information Operating Income Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncomeLoss
272940000
CY2017 wor Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss And Net Periodic Benefit Credit Cost
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossAndNetPeriodicBenefitCreditCost
3157000
CY2017 wor Retirement Plan Cost
RetirementPlanCost
14870000
CY2017 wor Effective Income Tax Rate Reconciliation Foreign Valuation Allowance
EffectiveIncomeTaxRateReconciliationForeignValuationAllowance
0.007 pure
CY2017 wor Equity Method Investment Summarized Financial Information Income Tax Expense Benefit
EquityMethodInvestmentSummarizedFinancialInformationIncomeTaxExpenseBenefit
17362000
CY2017 wor Equity Method Investment Summarized Financial Information Interest Expense
EquityMethodInvestmentSummarizedFinancialInformationInterestExpense
8721000
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