10-Q Filing

MYERS INDUSTRIES INC CIK: 69488 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0000069488-13-000007`
Period End Date	20130331
Filing Date	20130501
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	mye-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 24 Cash Flow Statement 62 Stockholders Equity 8 Comprehensive Income 10

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.80M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.95M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.30M	USD	Point-in-time
Accounts receivable-less allowances of $3,782 and $3,255, respectively	`AccountsReceivableNetCurrent`	$124.08M	USD	Point-in-time
Accounts receivable-less allowances of $3,782 and $3,255, respectively	`AccountsReceivableNetCurrent`	$115.51M	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.78M	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.25M	USD	Point-in-time
Finished and in-process products	`InventoryFinishedGoodsAndWorkInProcessNetOfReserves`	$75.07M	USD	Point-in-time
Finished and in-process products	`InventoryFinishedGoodsAndWorkInProcessNetOfReserves`	$72.90M	USD	Point-in-time
Raw materials and supplies	`InventoryRawMaterialsAndSuppliesNetOfReserves`	$34.34M	USD	Point-in-time
Raw materials and supplies	`InventoryRawMaterialsAndSuppliesNetOfReserves`	$34.60M	USD	Point-in-time
Inventory net	`InventoryNet`	$107.50M	USD	Point-in-time
Preferred Shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Inventory net	`InventoryNet`	$109.41M	USD	Point-in-time
Preferred Shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.03M	USD	Point-in-time
Preferred Shares, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Shares, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$3.60M	USD	Point-in-time
Preferred Shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.24M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$239.60M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$249.01M	USD	Point-in-time
Common Shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common Shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common Shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.48M	shares	Point-in-time
Common Shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.55M	shares	Point-in-time
Goodwill	`Goodwill`	$61.04M	USD	Point-in-time
Common shares, treasury (in shares)	`TreasuryStockShares`	4.15M	shares	Point-in-time
Goodwill	`Goodwill`	$61.06M	USD	Point-in-time
Common shares, treasury (in shares)	`TreasuryStockShares`	4.36M	shares	Point-in-time
Patents and other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$25.00M	USD	Point-in-time
Patents and other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$25.84M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$7.88M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$7.51M	USD	Point-in-time
Total other non current assets	`AssetsNoncurrent`	$93.55M	USD	Point-in-time
Total other non current assets	`AssetsNoncurrent`	$94.78M	USD	Point-in-time
Land	`Land`	$4.44M	USD	Point-in-time
Land	`Land`	$4.44M	USD	Point-in-time
Buildings and leasehold improvements	`BuildingsAndImprovementsGross`	$57.06M	USD	Point-in-time
Buildings and leasehold improvements	`BuildingsAndImprovementsGross`	$57.06M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$445.79M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$449.24M	USD	Point-in-time
Property, Plant and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$510.73M	USD	Point-in-time
Property, Plant and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$507.29M	USD	Point-in-time
Less allowances for depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$364.69M	USD	Point-in-time
Less allowances for depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$356.80M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$150.48M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$146.04M	USD	Point-in-time
Total Assets	`Assets`	$484.86M	USD	Point-in-time
Total Assets	`Assets`	$488.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$72.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.77M	USD	Point-in-time
Employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$13.98M	USD	Point-in-time
Employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$18.89M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$1.09M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$2.67M	USD	Point-in-time
Taxes, other than income taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$2.64M	USD	Point-in-time
Taxes, other than income taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$2.61M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$841.00K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$240.00K	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$19.46M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$19.24M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$114.48M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$103.37M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$92.81M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$103.58M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$17.09M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$17.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$30.47M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$29.68M	USD	Point-in-time
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Common Shares, without par value (authorized 60,000,000 shares; outstanding 33,551,449 and 33,480,189; net of treasury shares of 4,148,683 and 4,356,160, respectively)	`CommonStockValue`	$20.33M	USD	Point-in-time
Common Shares, without par value (authorized 60,000,000 shares; outstanding 33,551,449 and 33,480,189; net of treasury shares of 4,148,683 and 4,356,160, respectively)	`CommonStockValue`	$20.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$266.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$266.63M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$9.72M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$10.64M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-67.36M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-62.59M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$230.02M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$234.09M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$488.60M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$484.86M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$198.79M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$214.98M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$140.79M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$156.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$58.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$58.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$40.88M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$45.07M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$17.12M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$13.24M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.09M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.08M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.15M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.04M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.27M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.98M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.23	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.09	USD	1 Quarter
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.08	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.98M	USD	1 Quarter
Depreciation	`Depreciation`	$8.15M	USD	1 Quarter
Depreciation	`Depreciation`	$7.54M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$757.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.00M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$667.00K	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$438.00K	USD	1 Quarter
Provision for (recovery of) loss on accounts receivable	`ProvisionForDoubtfulAccounts`	$822.00K	USD	1 Quarter
Provision for (recovery of) loss on accounts receivable	`ProvisionForDoubtfulAccounts`	$-627.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$2.23M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-32.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$586.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-834.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$224.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-50.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.68M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.83M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.22M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.09M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.73M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$237.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-8.62M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-13.90M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.41M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.50M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.14M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.51M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.33M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$3.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-96.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.41M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.81M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$305.00K	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Net borrowing on credit facility	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$6.26M	USD	1 Quarter
Net borrowing on credit facility	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$10.76M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$2.32M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$397.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.71M	USD	1 Quarter
Tax benefit from options	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	-	USD	1 Quarter
Tax benefit from options	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$-37.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.96M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.55M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.04M	USD	1 Quarter
Foreign exchange rate effect on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$676.00K	USD	1 Quarter
Foreign exchange rate effect on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$469.00K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$105.00K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.50M	USD	1 Quarter
Cash at January 1	`CashAndCashEquivalentsAtCarryingValue`	$6.80M	USD	Point-in-time
Cash at January 1	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Cash at January 1	`CashAndCashEquivalentsAtCarryingValue`	$3.95M	USD	Point-in-time
Cash at January 1	`CashAndCashEquivalentsAtCarryingValue`	$3.30M	USD	Point-in-time
Cash at March 31	`CashAndCashEquivalentsAtCarryingValue`	$6.80M	USD	Point-in-time
Cash at March 31	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Cash at March 31	`CashAndCashEquivalentsAtCarryingValue`	$3.95M	USD	Point-in-time
Cash at March 31	`CashAndCashEquivalentsAtCarryingValue`	$3.30M	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.09	USD	1 Quarter
Dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.08	USD	1 Quarter
Balance at January 1, 2013	`StockholdersEquity`	$230.02M	USD	Point-in-time
Balance at January 1, 2013	`StockholdersEquity`	$234.09M	USD	Point-in-time
Net income	`NetIncomeLoss`	$7.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.98M	USD	1 Quarter
Balance at March 31, 2013	`StockholdersEquity`	$230.02M	USD	Point-in-time
Balance at March 31, 2013	`StockholdersEquity`	$234.09M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.98M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-851.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.39M	USD	1 Quarter
Pension liability	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$75.00K	USD	1 Quarter
Pension liability	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-632.00K	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-926.00K	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.02M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.96M	USD	1 Quarter

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