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10-Q Filing

AZZ INC CIK: 8947 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000008947-18-000108
Period End Date 20180531
Filing Date 20180703
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance azz-20170531.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Accounts Receivable, Allowance for Doubtful Accounts AllowanceForDoubtfulAccountsReceivableCurrent $569.00K USD Point-in-time
Accounts Receivable, Allowance for Doubtful Accounts AllowanceForDoubtfulAccountsReceivableCurrent $2.32M USD Point-in-time
Common Stock, Par Value (usd per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common Stock, Par Value (usd per share) CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $11.30M USD Point-in-time
Common Stock, Shares Authorized (shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.94M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.34M USD Point-in-time
Common Stock, Shares Authorized (shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $2,320 as of May 31, 2018 and $569 as of February 28, 2018) AccountsReceivableNetCurrent $169.24M USD Point-in-time
Common Stock, Shares Issued (shares) CommonStockSharesIssued 25.96M shares Point-in-time
Common Stock, Shares Issued (shares) CommonStockSharesIssued 26.03M shares Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $2,320 as of May 31, 2018 and $569 as of February 28, 2018) AccountsReceivableNetCurrent $141.49M USD Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 25.96M shares Point-in-time
Common Stock, Shares, Outstanding CommonStockSharesOutstanding 26.03M shares Point-in-time
Raw material InventoryRawMaterials $102.11M USD Point-in-time
Raw material InventoryRawMaterials $98.47M USD Point-in-time
Work-in-process InventoryWorkInProcess $2.54M USD Point-in-time
Work-in-process InventoryWorkInProcess $2.16M USD Point-in-time
Finished goods InventoryFinishedGoods $8.01M USD Point-in-time
Finished goods InventoryFinishedGoods $9.74M USD Point-in-time
Contract assets ContractWithCustomerAssetNet $51.79M USD Point-in-time
Contract assets ContractWithCustomerAssetNet $69.72M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssets $4.26M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssets $10.20M USD Point-in-time
Total current assets AssetsCurrent $375.37M USD Point-in-time
Total current assets AssetsCurrent $329.15M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $214.34M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $216.85M USD Point-in-time
Goodwill Goodwill $323.96M USD Point-in-time
Goodwill Goodwill $321.31M USD Point-in-time
Intangibles and other assets, net IntangibleAssetsNetExcludingGoodwill $156.51M USD Point-in-time
Intangibles and other assets, net IntangibleAssetsNetExcludingGoodwill $160.89M USD Point-in-time
Total assets Assets $1.07B USD Point-in-time
Total assets Assets $1.03B USD Point-in-time
Accounts payable AccountsPayableCurrent $54.16M USD Point-in-time
Accounts payable AccountsPayableCurrent $59.23M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $1.98M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $144.00K USD Point-in-time
Accrued salaries and wages EmployeeRelatedLiabilitiesCurrent $19.01M USD Point-in-time
Accrued salaries and wages EmployeeRelatedLiabilitiesCurrent $18.61M USD Point-in-time
Other accrued liabilities OtherLiabilitiesCurrent $19.62M USD Point-in-time
Other accrued liabilities OtherLiabilitiesCurrent $23.96M USD Point-in-time
Customer deposits CustomerAdvancesCurrent $1.28M USD Point-in-time
Customer deposits CustomerAdvancesCurrent $1.82M USD Point-in-time
Contract liabilities ContractWithCustomerLiability $21.84M USD Point-in-time
Contract liabilities ContractWithCustomerLiability $22.70M USD Point-in-time
Debt due within one year DebtCurrent - USD Point-in-time
Debt due within one year DebtCurrent $14.29M USD Point-in-time
Total current liabilities LiabilitiesCurrent $126.90M USD Point-in-time
Total current liabilities LiabilitiesCurrent $131.74M USD Point-in-time
Debt due after one year, net LongTermDebtNoncurrent $322.15M USD Point-in-time
Debt due after one year, net LongTermDebtNoncurrent $286.61M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $11.70M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $11.18M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $33.56M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $32.96M USD Point-in-time
Total liabilities Liabilities $463.01M USD Point-in-time
Total liabilities Liabilities $493.78M USD Point-in-time
Common stock, $1 par, shares authorized 100,000; 26,027 shares issued and outstanding at May 31, 2018 and 25,959 shares issued and outstanding at February 28, 2018 CommonStockValue $25.96M USD Point-in-time
Common stock, $1 par, shares authorized 100,000; 26,027 shares issued and outstanding at May 31, 2018 and 25,959 shares issued and outstanding at February 28, 2018 CommonStockValue $26.03M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $38.45M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $40.55M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $526.02M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $537.32M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-27.49M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-25.22M USD Point-in-time
Total shareholders equity StockholdersEquity $565.20M USD Point-in-time
Total shareholders equity StockholdersEquity $576.40M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.07B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.03B USD Point-in-time
Income Statement 26 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $205.28M USD 1 Quarter
Net sales SalesRevenueNet $262.24M USD 1 Quarter
Cost of sales CostOfGoodsSold $157.90M USD 1 Quarter
Cost of sales CostOfGoodsSold $203.53M USD 1 Quarter
Gross margin GrossProfit $58.70M USD 1 Quarter
Gross margin GrossProfit $47.38M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $27.36M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $35.01M USD 1 Quarter
Operating income OperatingIncomeLoss $20.02M USD 1 Quarter
Operating income OperatingIncomeLoss $23.70M USD 1 Quarter
Interest expense InterestExpense $3.84M USD 1 Quarter
Interest expense InterestExpense $3.36M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $291.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $185.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $20.15M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $16.85M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $4.79M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $4.43M USD 1 Quarter
Net income NetIncomeLoss $12.06M USD 1 Quarter
Net income NetIncomeLoss $15.72M USD 1 Quarter
Basic Earnings Per Share (usd per share) EarningsPerShareBasic $0.60 USD 1 Quarter
Basic Earnings Per Share (usd per share) EarningsPerShareBasic $0.46 USD 1 Quarter
Diluted Earnings Per Share (usd per share) EarningsPerShareDiluted $0.60 USD 1 Quarter
Diluted Earnings Per Share (usd per share) EarningsPerShareDiluted $0.46 USD 1 Quarter
Common Stock, Dividends, Per Share, Declared CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Common Stock, Dividends, Per Share, Declared CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $12.06M USD 1 Quarter
Net income NetIncomeLoss $15.72M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $1.81M USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $63.00K USD 1 Quarter
Amortization and depreciation DepreciationAndAmortization $12.42M USD 1 Quarter
Amortization and depreciation DepreciationAndAmortization $13.07M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $261.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $639.00K USD 1 Quarter
Net loss (gain) on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $100.00K USD 1 Quarter
Net loss (gain) on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-212.00K USD 1 Quarter
Amortization of deferred borrowing costs AmortizationOfFinancingCosts $138.00K USD 1 Quarter
Amortization of deferred borrowing costs AmortizationOfFinancingCosts $154.00K USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.36M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.19M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $29.58M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $14.11M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.36M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $6.98M USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $5.93M USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $5.62M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $1.15M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $1.02M USD 1 Quarter
Net change in contract assets and liabilities IncreaseDecreaseInBillingInExcessOfCostOfEarnings $-20.44M USD 1 Quarter
Net change in contract assets and liabilities IncreaseDecreaseInBillingInExcessOfCostOfEarnings $-4.94M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-2.40M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $5.58M USD 1 Quarter
Other accrued liabilities and income taxes payable IncreaseDecreaseInOtherOperatingLiabilities $7.56M USD 1 Quarter
Other accrued liabilities and income taxes payable IncreaseDecreaseInOtherOperatingLiabilities $-6.79M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-12.37M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-15.80M USD 1 Quarter
Proceeds from sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $171.00K USD 1 Quarter
Proceeds from sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Purchase of Property, Plant and Equipment PaymentsToAcquirePropertyPlantAndEquipment $10.14M USD 1 Quarter
Purchase of Property, Plant and Equipment PaymentsToAcquirePropertyPlantAndEquipment $2.85M USD 1 Quarter
Acquisition of Subsidiaries, Net of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired $8.00M USD 1 Quarter
Acquisition of Subsidiaries, Net of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net Cash From Investing Activities NetCashProvidedByUsedInInvestingActivities $-10.85M USD 1 Quarter
Net Cash From Investing Activities NetCashProvidedByUsedInInvestingActivities $-9.97M USD 1 Quarter
Proceeds from revolving loan ProceedsFromLinesOfCredit $102.50M USD 1 Quarter
Proceeds from revolving loan ProceedsFromLinesOfCredit $128.00M USD 1 Quarter
Payments on revolving loan RepaymentsOfLinesOfCredit $36.50M USD 1 Quarter
Payments on revolving loan RepaymentsOfLinesOfCredit $67.00M USD 1 Quarter
Payments on Long Term Debt RepaymentsOfLongTermDebt $63.50M USD 1 Quarter
Payments on Long Term Debt RepaymentsOfLongTermDebt $14.29M USD 1 Quarter
Payments for Repurchase of Common Stock PaymentsForRepurchaseOfCommonStock $2.68M USD 1 Quarter
Payments for Repurchase of Common Stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Payments of Dividends PaymentsOfDividends $4.42M USD 1 Quarter
Payments of Dividends PaymentsOfDividends $4.42M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivities $20.89M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivities $16.80M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-81.00K USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-498.00K USD 1 Quarter
Net Increase (Decrease) In Cash & Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-6.92M USD 1 Quarter
Net Increase (Decrease) In Cash & Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-4.96M USD 1 Quarter
Cash & Cash Equivalents At Beginning of Period CashAndCashEquivalentsAtCarryingValue $11.30M USD Point-in-time
Cash & Cash Equivalents At Beginning of Period CashAndCashEquivalentsAtCarryingValue $13.94M USD Point-in-time
Cash & Cash Equivalents At Beginning of Period CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Cash & Cash Equivalents At Beginning of Period CashAndCashEquivalentsAtCarryingValue $6.34M USD Point-in-time
Cash & Cash Equivalents At End of Period CashAndCashEquivalentsAtCarryingValue $11.30M USD Point-in-time
Cash & Cash Equivalents At End of Period CashAndCashEquivalentsAtCarryingValue $13.94M USD Point-in-time
Cash & Cash Equivalents At End of Period CashAndCashEquivalentsAtCarryingValue $20.85M USD Point-in-time
Cash & Cash Equivalents At End of Period CashAndCashEquivalentsAtCarryingValue $6.34M USD Point-in-time
Cash Paid For Interest InterestPaid $2.29M USD 1 Quarter
Cash Paid For Interest InterestPaid $2.46M USD 1 Quarter
Cash Paid For Income Taxes IncomeTaxesPaid $7.10M USD 1 Quarter
Cash Paid For Income Taxes IncomeTaxesPaid $670.00K USD 1 Quarter
Stockholders Equity 16 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $565.20M USD Point-in-time
Balance StockholdersEquity $576.40M USD Point-in-time
Stock Compensation StockIssuedDuringPeriodValueShareBasedCompensation $1.36M USD 1 Quarter
Restricted Stock Units StockIssuedDuringPeriodValueRestrictedStockAwardGross $-519.00K USD 1 Quarter
Stock Issued For Stock Appreciation Rights StockIssuedForStockAppreciationRights $1.00K USD 1 Quarter
Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.33M USD 1 Quarter
Treasury Stock, Retired, Par Value Method, Amount TreasuryStockRetiredParValueMethodAmount - USD 1 Quarter
Cash Dividend Paid DividendsCash $4.42M USD 1 Quarter
Net income NetIncomeLoss $12.06M USD 1 Quarter
Net income NetIncomeLoss $15.72M USD 1 Quarter
Foreign Currency Translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-2.26M USD 1 Quarter
Foreign Currency Translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-997.00K USD 1 Quarter
Interest rate swap OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-14.00K USD 1 Quarter
Interest rate swap OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-14.00K USD 1 Quarter
Balance StockholdersEquity $565.20M USD Point-in-time
Balance StockholdersEquity $576.40M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $12.06M USD 1 Quarter
Net income NetIncomeLoss $15.72M USD 1 Quarter
Interest rate swap, income tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $7.00K USD 1 Quarter
Interest rate swap, income tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $7.00K USD 1 Quarter
Foreign currency translation adjustments, net of income tax of $0 OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-2.26M USD 1 Quarter
Foreign currency translation adjustments, net of income tax of $0 OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-997.00K USD 1 Quarter
Interest rate swap, net of income tax of $7 and $7, respectively. OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-14.00K USD 1 Quarter
Interest rate swap, net of income tax of $7 and $7, respectively. OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-14.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-1.01M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-2.27M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $11.05M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $13.45M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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