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10-Q Filing

GENTEX CORP CIK: 355811 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000355811-19-000020
Period End Date 20190331
Filing Date 20190503
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance gntx-20190331_htm.xml
Balance Sheet 53 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $221.69M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $217.03M USD Point-in-time
Short-term investments ShortTermInvestments $169.41M USD Point-in-time
Short-term investments ShortTermInvestments $180.31M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $213.54M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $244.27M USD Point-in-time
Inventories InventoryNet $225.28M USD Point-in-time
Inventories InventoryNet $225.30M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $14.82M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $25.67M USD Point-in-time
Total current assets AssetsCurrent $886.40M USD Point-in-time
Total current assets AssetsCurrent $850.93M USD Point-in-time
PLANT AND EQUIPMENTNET PropertyPlantAndEquipmentNet $492.61M USD Point-in-time
PLANT AND EQUIPMENTNET PropertyPlantAndEquipmentNet $498.47M USD Point-in-time
Goodwill Goodwill $307.37M USD Point-in-time
Goodwill Goodwill $307.37M USD Point-in-time
Long-term investments LongTermInvestments $126.53M USD Point-in-time
Long-term investments LongTermInvestments $137.98M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $264.85M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $269.68M USD Point-in-time
Patents and other assets, net PatentandOtherAssetsNet $21.01M USD Point-in-time
Patents and other assets, net PatentandOtherAssetsNet $22.61M USD Point-in-time
Total other assets OtherAssetsNoncurrent $736.03M USD Point-in-time
Total other assets OtherAssetsNoncurrent $721.36M USD Point-in-time
Total assets Assets $2.09B USD Point-in-time
Total assets Assets $2.10B USD Point-in-time
Accounts payable AccountsPayableCurrent $90.12M USD Point-in-time
Accounts payable AccountsPayableCurrent $92.81M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $76.35M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $94.38M USD Point-in-time
Total current liabilities LiabilitiesCurrent $184.49M USD Point-in-time
Total current liabilities LiabilitiesCurrent $169.16M USD Point-in-time
OTHER NON-CURRENT LIABILITIES OtherLiabilitiesNoncurrent $5.51M USD Point-in-time
OTHER NON-CURRENT LIABILITIES OtherLiabilitiesNoncurrent - USD Point-in-time
DEFERRED INCOME TAXES DeferredTaxLiabilitiesNoncurrent $54.52M USD Point-in-time
DEFERRED INCOME TAXES DeferredTaxLiabilitiesNoncurrent $53.29M USD Point-in-time
Total liabilities Liabilities $243.29M USD Point-in-time
Total liabilities Liabilities $223.68M USD Point-in-time
Common stock CommonStockValue $15.34M USD Point-in-time
Common stock CommonStockValue $15.56M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $748.64M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $745.32M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.09B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.10B USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-275.73K USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $2.21M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.60M USD Point-in-time
Total shareholders investment StockholdersEquity $2.05B USD Point-in-time
Total shareholders investment StockholdersEquity $1.97B USD Point-in-time
Total shareholders investment StockholdersEquity $1.86B USD Point-in-time
Total shareholders investment StockholdersEquity $1.86B USD Point-in-time
Total liabilities and shareholders investment LiabilitiesAndStockholdersEquity $2.10B USD Point-in-time
Total liabilities and shareholders investment LiabilitiesAndStockholdersEquity $2.09B USD Point-in-time
Income Statement 33 line items
Line Item Tag Value Unit Period
NET SALES RevenueFromContractWithCustomerIncludingAssessedTax $465.42M USD 1 Quarter
NET SALES RevenueFromContractWithCustomerIncludingAssessedTax $468.59M USD 1 Quarter
COST OF GOODS SOLD CostOfGoodsAndServicesSold $292.79M USD 1 Quarter
COST OF GOODS SOLD CostOfGoodsAndServicesSold $298.94M USD 1 Quarter
Gross profit GrossProfit $169.64M USD 1 Quarter
Gross profit GrossProfit $172.63M USD 1 Quarter
Engineering, research and development ResearchAndDevelopmentExpense $26.05M USD 1 Quarter
Engineering, research and development ResearchAndDevelopmentExpense $28.09M USD 1 Quarter
Selling, general & administrative SellingGeneralAndAdministrativeExpense $18.06M USD 1 Quarter
Selling, general & administrative SellingGeneralAndAdministrativeExpense $19.96M USD 1 Quarter
Total operating expenses OperatingExpenses $48.05M USD 1 Quarter
Total operating expenses OperatingExpenses $44.11M USD 1 Quarter
Income from operations OperatingIncomeLoss $128.52M USD 1 Quarter
Income from operations OperatingIncomeLoss $121.60M USD 1 Quarter
Investment income InvestmentIncomeNonoperating $2.04M USD 1 Quarter
Investment income InvestmentIncomeNonoperating $3.26M USD 1 Quarter
Other income (loss), net OtherNonoperatingIncomeExpense $1.21M USD 1 Quarter
Other income (loss), net OtherNonoperatingIncomeExpense $49.47K USD 1 Quarter
Total Other Income NonoperatingIncomeExpense $3.31M USD 1 Quarter
Total Other Income NonoperatingIncomeExpense $3.24M USD 1 Quarter
INCOME BEFORE PROVISION FOR INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $124.91M USD 1 Quarter
INCOME BEFORE PROVISION FOR INCOME TAXES IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $131.76M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $20.63M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $20.51M USD 1 Quarter
NET INCOME NetIncomeLoss $111.25M USD 1 Quarter
NET INCOME NetIncomeLoss $104.28M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.40 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.40 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.40 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.40 USD 1 Quarter
Cash Dividends Declared per Share (in dollars per share) CommonStockDividendsPerShareDeclared $0.11 USD Point-in-time
Cash Dividends Declared per Share (in dollars per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Cash Dividends Declared per Share (in dollars per share) CommonStockDividendsPerShareDeclared $0.11 USD 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $111.25M USD 1 Quarter
Net income NetIncomeLoss $104.28M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $28.05M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $28.10M USD 1 Quarter
(Gain) on disposal of assets GainLossOnSaleOfOtherAssets $43.34K USD 1 Quarter
(Gain) on disposal of assets GainLossOnSaleOfOtherAssets $4.37K USD 1 Quarter
Loss on disposal of assets GainLossOnDispositionOfAssets $-122.30K USD 1 Quarter
Loss on disposal of assets GainLossOnDispositionOfAssets $-8.68K USD 1 Quarter
(Gain) on sale of investments GainOnSaleOfInvestments $1.25M USD 1 Quarter
(Gain) on sale of investments GainOnSaleOfInvestments $88.58K USD 1 Quarter
Loss on sale of investments GainLossOnSaleOfInvestments - USD 1 Quarter
Loss on sale of investments GainLossOnSaleOfInvestments $-529.48K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.23M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-2.75M USD 1 Quarter
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock ShareBasedCompensation $3.98M USD 1 Quarter
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock ShareBasedCompensation $4.86M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $30.73M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $15.31M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-9.53M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $21.44K USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-10.85M USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-2.87M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-12.59M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-2.69M USD 1 Quarter
Accrued liabilities, excluding dividends declared and short-term debt IncreaseDecreaseInAccruedLiabilities $23.13M USD 1 Quarter
Accrued liabilities, excluding dividends declared and short-term debt IncreaseDecreaseInAccruedLiabilities $20.44M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $147.45M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $133.84M USD 1 Quarter
Sales proceeds ProceedsFromSaleOfAvailableForSaleSecurities $17.14M USD 1 Quarter
Sales proceeds ProceedsFromSaleOfAvailableForSaleSecurities $53.82M USD 1 Quarter
Maturities and calls ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $3.00M USD 1 Quarter
Maturities and calls ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $3.00M USD 1 Quarter
Purchases PaymentsToAcquireAvailableForSaleSecurities $1.21M USD 1 Quarter
Purchases PaymentsToAcquireAvailableForSaleSecurities $18.48M USD 1 Quarter
Plant and equipment additions PaymentsToAcquireProductiveAssets $16.84M USD 1 Quarter
Plant and equipment additions PaymentsToAcquireProductiveAssets $26.25M USD 1 Quarter
Proceeds from sale of plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $67.40K USD 1 Quarter
Proceeds from sale of plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $117.45K USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-45.32K USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-164.22K USD 1 Quarter
Net cash (used for) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-14.90M USD 1 Quarter
Net cash (used for) provided by investing activities NetCashProvidedByUsedInInvestingActivities $29.47M USD 1 Quarter
Repayment of debt RepaymentsOfLongTermDebt - USD 1 Quarter
Repayment of debt RepaymentsOfLongTermDebt $28.00M USD 1 Quarter
Issuance of common stock from stock plan transactions ProceedsFromIssuanceOfCommonStock $10.51M USD 1 Quarter
Issuance of common stock from stock plan transactions ProceedsFromIssuanceOfCommonStock $36.27M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $28.53M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $28.03M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $202.57M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $96.27M USD 1 Quarter
Net cash (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-114.28M USD 1 Quarter
Net cash (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-222.33M USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $4.66M USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-45.41M USD 1 Quarter
CASH AND CASH EQUIVALENTS, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $221.69M USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $524.32M USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $217.03M USD Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $569.73M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $221.69M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $524.32M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $217.03M USD Point-in-time
CASH AND CASH EQUIVALENTS, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $569.73M USD Point-in-time
Stockholders Equity 25 line items
Line Item Tag Value Unit Period
Dividends declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.11 USD Point-in-time
Dividends declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Dividends declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.11 USD 1 Quarter
Beginning balance StockholdersEquity $2.05B USD Point-in-time
Beginning balance StockholdersEquity $1.97B USD Point-in-time
Beginning balance StockholdersEquity $1.86B USD Point-in-time
Beginning balance StockholdersEquity $1.86B USD Point-in-time
Issuance of common stock and the tax benefit of stock plan transactions StockIssuedDuringPeriodValueNewIssues $36.27M USD 1 Quarter
Issuance of common stock and the tax benefit of stock plan transactions StockIssuedDuringPeriodValueNewIssues $10.51M USD 1 Quarter
Repurchases of common stock (in shares) StockRepurchasedDuringPeriodShares 4.70M shares 1 Quarter
Repurchases of common stock StockRepurchasedDuringPeriodValue $202.57M USD 1 Quarter
Repurchases of common stock StockRepurchasedDuringPeriodValue $96.27M USD 1 Quarter
Stock-based compensation expense related to stock options, employee stock purchases and restricted stock AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.86M USD 1 Quarter
Stock-based compensation expense related to stock options, employee stock purchases and restricted stock AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.98M USD 1 Quarter
Impact of ASU 2016-01 adoption NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification - USD 1 Quarter
Dividends declared DividendsCommonStockCash $30.12M USD 1 Quarter
Dividends declared DividendsCommonStockCash $29.39M USD 1 Quarter
Net income NetIncomeLoss $111.25M USD 1 Quarter
Net income NetIncomeLoss $104.28M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $1.32M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $1.66M USD 1 Quarter
Ending balance StockholdersEquity $2.05B USD Point-in-time
Ending balance StockholdersEquity $1.97B USD Point-in-time
Ending balance StockholdersEquity $1.86B USD Point-in-time
Ending balance StockholdersEquity $1.86B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $111.25M USD 1 Quarter
Net income NetIncomeLoss $104.28M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $299.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $1.63M USD 1 Quarter
Unrealized gains on derivatives OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $67.05K USD 1 Quarter
Unrealized gains on derivatives OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax - USD 1 Quarter
Unrealized gains (losses) on debt securities, net OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $-21.28K USD 1 Quarter
Unrealized gains (losses) on debt securities, net OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $1.30M USD 1 Quarter
Other comprehensive income, before tax OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent $1.67M USD 1 Quarter
Other comprehensive income, before tax OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent $1.60M USD 1 Quarter
Expense for income taxes related to components of other comprehensive income OtherComprehensiveIncomeLossTax $9.61K USD 1 Quarter
Expense for income taxes related to components of other comprehensive income OtherComprehensiveIncomeLossTax $272.63K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $1.66M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $1.32M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTax $112.91M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTax $105.61M USD 1 Quarter

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

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