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10-Q Filing

MUELLER INDUSTRIES INC CIK: 89439 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0000089439-16-000044
Period End Date 20160331
Filing Date 20160427
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance mli-20160402.xml
Filing Contents
Balance Sheet 88 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $326.89M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $623.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $274.84M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $496.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $352.13M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $270.15M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $496 in 2016 and $623 in 2015 AccountsReceivableNetCurrent $275.88M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $496 in 2016 and $623 in 2015 AccountsReceivableNetCurrent $251.57M USD Point-in-time
Inventories InventoryNet $240.61M USD Point-in-time
Inventories InventoryNet $239.38M USD Point-in-time
Other current assets OtherAssetsCurrent $34.12M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Other current assets OtherAssetsCurrent $34.61M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 5.00M shares Point-in-time
Total current assets AssetsCurrent $800.40M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 5.00M shares Point-in-time
Total current assets AssetsCurrent $820.76M USD Point-in-time
Property, plant, and equipment, net PropertyPlantAndEquipmentNet $280.22M USD Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Property, plant, and equipment, net PropertyPlantAndEquipmentNet $278.48M USD Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Goodwill, net Goodwill $121.11M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Goodwill, net Goodwill $120.25M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $40.64M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $40.62M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 80.18M shares Point-in-time
Investment in unconsolidated affiliates InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $65.90M USD Point-in-time
Investment in unconsolidated affiliates InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $68.82M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 80.18M shares Point-in-time
Other assets OtherAssetsNoncurrent $31.39M USD Point-in-time
Other assets OtherAssetsNoncurrent $31.23M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 57.13M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 57.16M shares Point-in-time
Total assets Assets $1.36B USD Point-in-time
Total assets Assets $1.34B USD Point-in-time
Current portion of debt DebtCurrent $11.76M USD Point-in-time
Current portion of debt DebtCurrent $4.58M USD Point-in-time
Accounts payable AccountsPayableCurrent $88.05M USD Point-in-time
Accounts payable AccountsPayableCurrent $98.32M USD Point-in-time
Accrued wages and other employee costs EmployeeRelatedLiabilitiesCurrent $35.64M USD Point-in-time
Accrued wages and other employee costs EmployeeRelatedLiabilitiesCurrent $27.97M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $71.73M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $73.98M USD Point-in-time
Total current liabilities LiabilitiesCurrent $202.61M USD Point-in-time
Total current liabilities LiabilitiesCurrent $209.43M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $206.00M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $204.25M USD Point-in-time
Pension liabilities PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $17.45M USD Point-in-time
Pension liabilities PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $16.32M USD Point-in-time
Postretirement benefits other than pensions OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent $17.40M USD Point-in-time
Postretirement benefits other than pensions OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent $17.43M USD Point-in-time
Environmental reserves AccruedEnvironmentalLossContingenciesNoncurrent $20.93M USD Point-in-time
Environmental reserves AccruedEnvironmentalLossContingenciesNoncurrent $20.94M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $7.16M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $8.31M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $2.44M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $2.97M USD Point-in-time
Total liabilities Liabilities $479.10M USD Point-in-time
Total liabilities Liabilities $474.54M USD Point-in-time
Preferred stock - $1.00 par value; shares authorized 5,000,000; none outstanding PreferredStockValue - USD Point-in-time
Preferred stock - $1.00 par value; shares authorized 5,000,000; none outstanding PreferredStockValue - USD Point-in-time
Common stock - $.01 par value; shares authorized 100,000,000; issued 80,183,004; outstanding 57,126,707 in 2016 and 57,158,608 in 2015 CommonStockValue $802.00K USD Point-in-time
Common stock - $.01 par value; shares authorized 100,000,000; issued 80,183,004; outstanding 57,126,707 in 2016 and 57,158,608 in 2015 CommonStockValue $802.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $271.16M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $273.58M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.06B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.09B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-49.43M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-53.55M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-54.99M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-42.92M USD Point-in-time
Treasury common stock, at cost TreasuryStockValue $453.95M USD Point-in-time
Treasury common stock, at cost TreasuryStockValue $453.23M USD Point-in-time
Total Mueller Industries, Inc. stockholders' equity StockholdersEquity $854.80M USD Point-in-time
Total Mueller Industries, Inc. stockholders' equity StockholdersEquity $827.28M USD Point-in-time
Noncontrolling interest MinorityInterest $32.42M USD Point-in-time
Noncontrolling interest MinorityInterest $31.68M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $859.70M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $886.48M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.36B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.34B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueGoodsNet $532.81M USD 1 Quarter
Net sales SalesRevenueGoodsNet $537.24M USD 1 Quarter
Cost of goods sold CostOfGoodsSold $446.64M USD 1 Quarter
Cost of goods sold CostOfGoodsSold $460.83M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.92M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $7.85M USD 1 Quarter
Selling, general, and administrative expense SellingGeneralAndAdministrativeExpense $35.78M USD 1 Quarter
Selling, general, and administrative expense SellingGeneralAndAdministrativeExpense $32.83M USD 1 Quarter
Operating income OperatingIncomeLoss $35.72M USD 1 Quarter
Operating income OperatingIncomeLoss $41.47M USD 1 Quarter
Interest expense InterestExpense $1.85M USD 1 Quarter
Interest expense InterestExpense $2.08M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $245.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $105.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $33.75M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $39.86M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $14.12M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $11.41M USD 1 Quarter
Income from unconsolidated affiliates IncomeLossFromEquityMethodInvestments $2.92M USD 1 Quarter
Income from unconsolidated affiliates IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Consolidated net income ProfitLoss $28.66M USD 1 Quarter
Consolidated net income ProfitLoss $22.34M USD 1 Quarter
Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $362.00K USD 1 Quarter
Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $35.00K USD 1 Quarter
Net income attributable to Mueller Industries, Inc. NetIncomeLoss $28.63M USD 1 Quarter
Net income attributable to Mueller Industries, Inc. NetIncomeLoss $21.98M USD 1 Quarter
Weighted average shares for basic earnings per share (in shares) WeightedAverageNumberOfSharesOutstandingBasic 56.47M shares 1 Quarter
Weighted average shares for basic earnings per share (in shares) WeightedAverageNumberOfSharesOutstandingBasic 56.19M shares 1 Quarter
Effect of dilutive stock-based awards (in shares) WeightedAverageNumberDilutedSharesOutstandingAdjustment 731,000.00 shares 1 Quarter
Effect of dilutive stock-based awards (in shares) WeightedAverageNumberDilutedSharesOutstandingAdjustment 495,000.00 shares 1 Quarter
Adjusted weighted average shares for diluted earnings per share (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 56.92M shares 1 Quarter
Adjusted weighted average shares for diluted earnings per share (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 56.96M shares 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $0.39 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $0.51 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $0.50 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $0.39 USD 1 Quarter
Dividends per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.07 USD 1 Quarter
Dividends per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.07 USD 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $28.66M USD 1 Quarter
Consolidated net income ProfitLoss $22.34M USD 1 Quarter
Depreciation and amortization Depreciation $9.01M USD 1 Quarter
Depreciation and amortization Depreciation $8.02M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.35M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.24M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $2.92M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromEquityMethodInvestments - USD 1 Quarter
(Gain) loss on disposal of properties GainLossOnSaleOfPropertyPlantEquipment $-1.00K USD 1 Quarter
(Gain) loss on disposal of properties GainLossOnSaleOfPropertyPlantEquipment $23.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-570.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.90M USD 1 Quarter
Income tax benefit from exercise of stock options ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $96.00K USD 1 Quarter
Income tax benefit from exercise of stock options ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $69.00K USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $36.69M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $25.09M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-7.53M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.63M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-9.26M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $370.00K USD 1 Quarter
Current liabilities IncreaseDecreaseInOperatingLiabilities $655.00K USD 1 Quarter
Current liabilities IncreaseDecreaseInOperatingLiabilities $-7.39M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-704.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-131.00K USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $291.00K USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $-245.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $10.34M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $3.89M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $5.89M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $7.39M USD 1 Quarter
Net withdrawals from (deposits into) restricted cash IncreaseDecreaseInRestrictedCash $12.59M USD 1 Quarter
Net withdrawals from (deposits into) restricted cash IncreaseDecreaseInRestrictedCash $-84.00K USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfPropertyPlantAndEquipment $1.00K USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfPropertyPlantAndEquipment $492.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-19.49M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-5.81M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $250.00K USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $250.00K USD 1 Quarter
Dividends paid to stockholders of Mueller Industries, Inc. PaymentsOfDividends $4.24M USD 1 Quarter
Dividends paid to stockholders of Mueller Industries, Inc. PaymentsOfDividends $4.22M USD 1 Quarter
Repayment of debt by joint venture, net ProceedsFromRepaymentsOfDebt $-3.82M USD 1 Quarter
Repayment of debt by joint venture, net ProceedsFromRepaymentsOfDebt $-7.02M USD 1 Quarter
Issuance of debt ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities - USD 1 Quarter
Issuance of debt ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities $2.00M USD 1 Quarter
Net cash used to settle stock-based awards ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $93.00K USD 1 Quarter
Net cash used to settle stock-based awards ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $361.00K USD 1 Quarter
Income tax benefit from exercise of stock options ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $96.00K USD 1 Quarter
Income tax benefit from exercise of stock options ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $69.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-8.12M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-9.05M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-1.52M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-171.00K USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-4.70M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-25.24M USD 1 Quarter
Cash and cash equivalents at the beginning of the period CashAndCashEquivalentsAtCarryingValue $326.89M USD Point-in-time
Cash and cash equivalents at the beginning of the period CashAndCashEquivalentsAtCarryingValue $274.84M USD Point-in-time
Cash and cash equivalents at the beginning of the period CashAndCashEquivalentsAtCarryingValue $352.13M USD Point-in-time
Cash and cash equivalents at the beginning of the period CashAndCashEquivalentsAtCarryingValue $270.15M USD Point-in-time
Cash and cash equivalents at the end of the period CashAndCashEquivalentsAtCarryingValue $326.89M USD Point-in-time
Cash and cash equivalents at the end of the period CashAndCashEquivalentsAtCarryingValue $274.84M USD Point-in-time
Cash and cash equivalents at the end of the period CashAndCashEquivalentsAtCarryingValue $352.13M USD Point-in-time
Cash and cash equivalents at the end of the period CashAndCashEquivalentsAtCarryingValue $270.15M USD Point-in-time
Comprehensive Income 22 line items
Line Item Tag Value Unit Period
Net change with respect to derivative instruments and hedging activities, tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $221.00K USD 1 Quarter
Consolidated net income ProfitLoss $28.66M USD 1 Quarter
Consolidated net income ProfitLoss $22.34M USD 1 Quarter
Net change with respect to derivative instruments and hedging activities, tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $-274.00K USD 1 Quarter
Net actuarial loss on pension and postretirement obligations, tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $501.00K USD 1 Quarter
Net actuarial loss on pension and postretirement obligations, tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax $398.00K USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-8.40M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.11M USD 1 Quarter
Net change with respect to derivative instruments and hedging activities, net of tax of $(221) in 2016 and $274 in 2015 OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $594.00K USD 1 Quarter
Net change with respect to derivative instruments and hedging activities, net of tax of $(221) in 2016 and $274 in 2015 OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-198.00K USD 1 Quarter
Net actuarial loss on pension and postretirement obligations, net of tax of $(398) in 2016 and $(501) in 2015 OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-1.42M USD 1 Quarter
Net actuarial loss on pension and postretirement obligations, net of tax of $(398) in 2016 and $(501) in 2015 OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-1.17M USD 1 Quarter
Other, net OtherComprehensiveIncomeOtherNetOfTax $-27.00K USD 1 Quarter
Other, net OtherComprehensiveIncomeOtherNetOfTax $14.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $669.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-7.21M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $15.13M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $29.33M USD 1 Quarter
Comprehensive loss attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-345.00K USD 1 Quarter
Comprehensive loss attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-739.00K USD 1 Quarter
Comprehensive income attributable to Mueller Industries, Inc. ComprehensiveIncomeNetOfTax $30.07M USD 1 Quarter
Comprehensive income attributable to Mueller Industries, Inc. ComprehensiveIncomeNetOfTax $15.47M USD 1 Quarter

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

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