10-Q Filing

ENCORE WIRE CORP CIK: 850460 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0000850460-17-000031`
Period End Date	20170930
Filing Date	20171102
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	wire-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 56 Cash Flow Statement 52

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.04M	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.03M	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$79.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$101.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$79.93M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$95.75M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of allowance of $2,027 and $2,036	`AccountsReceivableNetCurrent`	$222.95M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance of $2,027 and $2,036	`AccountsReceivableNetCurrent`	$184.88M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$93.27M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$95.42M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$2.48M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$2.91M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.76M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.84M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$422.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$376.38M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	6.03M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	6.03M	shares	Point-in-time
Land and land improvements	`LandAndLandImprovements`	$51.02M	USD	Point-in-time
Land and land improvements	`LandAndLandImprovements`	$50.93M	USD	Point-in-time
Construction-in-progress	`ConstructionInProgressGross`	$16.12M	USD	Point-in-time
Construction-in-progress	`ConstructionInProgressGross`	$35.83M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$121.43M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$141.34M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$289.49M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$303.34M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$9.20M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$9.52M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$521.35M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$506.89M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$235.82M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$225.50M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$281.39M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$285.53M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$193.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$193.00K	USD	Point-in-time
Total assets	`Assets`	$708.37M	USD	Point-in-time
Total assets	`Assets`	$657.96M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$32.16M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$18.58M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$29.52M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$27.99M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$4.32M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$276.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$61.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$50.88M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$33.97M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$33.76M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.01 par value: Authorized shares 2,000,000; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value: Authorized shares 2,000,000; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value: Authorized shares - 40,000,000; Issued shares - 26,840,203 and 26,762,703	`CommonStockValue`	$268.00K	USD	Point-in-time
Common stock, $.01 par value: Authorized shares - 40,000,000; Issued shares - 26,840,203 and 26,762,703	`CommonStockValue`	$268.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$55.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$57.56M	USD	Point-in-time
Treasury stock, at cost 6,027,455 and 6,027,455 shares	`TreasuryStockValue`	$91.06M	USD	Point-in-time
Treasury stock, at cost 6,027,455 and 6,027,455 shares	`TreasuryStockValue`	$91.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$608.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$645.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$573.11M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$612.64M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$708.37M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$657.96M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$292.03M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$237.17M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$862.96M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$701.54M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$748.79M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$209.35M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$252.94M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$614.95M	USD	3 Qtrs
Gross profit	`GrossProfit`	$86.59M	USD	3 Qtrs
Gross profit	`GrossProfit`	$114.16M	USD	3 Qtrs
Gross profit	`GrossProfit`	$39.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$27.82M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$52.76M	USD	3 Qtrs
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$57.20M	USD	3 Qtrs
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$19.14M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$18.72M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$33.84M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$56.97M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$19.95M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$9.10M	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$148.00K	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$184.00K	USD	3 Qtrs
Net interest and other income	`NonoperatingIncomeExpense`	$32.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.09M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.87M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$57.15M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.11M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.43M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.13M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.11M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$18.62M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$6.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$38.53M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$22.44M	USD	3 Qtrs
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$1.86	USD	3 Qtrs
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$1.08	USD	3 Qtrs
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$0.29	USD	1 Quarter
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Weighted average common and common equivalent shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.76M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.70M	shares	3 Qtrs
Weighted average common and common equivalent shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.75M	shares	3 Qtrs
Weighted average common and common equivalent shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.70M	shares	1 Quarter
Earnings per common and common equivalent share - diluted (in usd per share)	`EarningsPerShareDiluted`	$1.85	USD	3 Qtrs
Earnings per common and common equivalent share - diluted (in usd per share)	`EarningsPerShareDiluted`	$1.08	USD	3 Qtrs
Earnings per common and common equivalent share - diluted (in usd per share)	`EarningsPerShareDiluted`	$0.67	USD	1 Quarter
Earnings per common and common equivalent share - diluted (in usd per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Weighted average common and common equivalent shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.76M	shares	3 Qtrs
Weighted average common and common equivalent shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.77M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.84M	shares	3 Qtrs
Weighted average common and common equivalent shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.84M	shares	1 Quarter
Cash dividends declared per share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Cash dividends declared per share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	3 Qtrs
Cash dividends declared per share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.02	USD	1 Quarter
Cash dividends declared per share (in usd per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	3 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$38.53M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$22.44M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.01M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.61M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-210.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.71M	USD	3 Qtrs
Excess tax benefits of options exercised	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	3 Qtrs
Excess tax benefits of options exercised	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$32.00K	USD	3 Qtrs
Stock-based compensation attributable to equity awards	`ShareBasedCompensation`	$837.00K	USD	3 Qtrs
Stock-based compensation attributable to equity awards	`ShareBasedCompensation`	$647.00K	USD	3 Qtrs
Other	`OtherNoncashIncomeExpense`	$-1.56M	USD	3 Qtrs
Other	`OtherNoncashIncomeExpense`	$401.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.53M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$37.84M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-839.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.15M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$464.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$424.00K	USD	3 Qtrs
Trade accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$15.08M	USD	3 Qtrs
Trade accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.95M	USD	3 Qtrs
Current income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-4.04M	USD	3 Qtrs
Current income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$5.23M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.56M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.95M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.20M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.61M	USD	3 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$44.00K	USD	3 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$923.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.27M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.56M	USD	3 Qtrs
Deferred financing fees	`PaymentsOfFinancingCosts`	$1.00K	USD	3 Qtrs
Deferred financing fees	`PaymentsOfFinancingCosts`	$150.00K	USD	3 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$1.18M	USD	3 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$1.14M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$1.24M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$1.25M	USD	3 Qtrs
Excess tax benefits of options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$32.00K	USD	3 Qtrs
Excess tax benefits of options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-225.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-63.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.61M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$775.00K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$79.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$101.37M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$79.93M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$95.75M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$79.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$101.37M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$79.93M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$95.75M	USD	Point-in-time

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