10-Q Filing

ENCORE WIRE CORP CIK: 850460 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000850460-20-000042`
Period End Date	20200331
Filing Date	20200430
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	wire-20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 28 Cash Flow Statement 46 Stockholders Equity 20

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.50M	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.80M	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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$230.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$206.84M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance of $2,501 and $1,801	`AccountsReceivableNetCurrent`	$224.12M	USD	Point-in-time
Accounts receivable, net of allowance of $2,501 and $1,801	`AccountsReceivableNetCurrent`	$223.10M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$89.68M	USD	Point-in-time
Inventories, net	`InventoryNet`	$90.57M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$3.60M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$446.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.89M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.94M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.95M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$4.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$525.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$549.24M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	6.47M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	6.03M	shares	Point-in-time
Land and land improvements	`LandAndLandImprovements`	$52.35M	USD	Point-in-time
Land and land improvements	`LandAndLandImprovements`	$60.65M	USD	Point-in-time
Construction-in-progress	`ConstructionInProgressGross`	$49.85M	USD	Point-in-time
Construction-in-progress	`ConstructionInProgressGross`	$42.82M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$152.72M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$152.54M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$341.90M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$334.20M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$10.93M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$11.80M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$599.87M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$609.89M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$266.69M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$270.22M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$339.66M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$333.18M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$704.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$737.00K	USD	Point-in-time
Total assets	`Assets`	$883.15M	USD	Point-in-time
Total assets	`Assets`	$866.35M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$40.51M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$34.06M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$23.65M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$34.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$75.30M	USD	Point-in-time
Deferred income taxes and other	`DeferredIncomeTaxLiabilitiesNet`	$31.47M	USD	Point-in-time
Deferred income taxes and other	`DeferredIncomeTaxLiabilitiesNet`	$28.76M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Authorized shares 2,000,000; none issued	`PreferredStockValue`	-	USD	Point-in-time
Authorized shares 2,000,000; none issued	`PreferredStockValue`	-	USD	Point-in-time
Issued shares 26,946,916 and 26,939,403	`CommonStockValue`	$269.00K	USD	Point-in-time
Issued shares 26,946,916 and 26,939,403	`CommonStockValue`	$269.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$63.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$63.47M	USD	Point-in-time
Treasury stock, at cost 6,466,567 and 6,027,455 shares	`TreasuryStockValue`	$111.64M	USD	Point-in-time
Treasury stock, at cost 6,466,567 and 6,027,455 shares	`TreasuryStockValue`	$91.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$806.87M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$825.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$734.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$777.17M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$779.10M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$720.46M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$866.35M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$883.15M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$314.71M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$302.79M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$257.02M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$273.38M	USD	1 Quarter
Gross profit	`GrossProfit`	$45.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$41.33M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$22.29M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$25.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$16.33M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$23.48M	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$1.08M	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$884.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$24.37M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.41M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.76M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.61M	USD	1 Quarter
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$0.89	USD	1 Quarter
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$0.64	USD	1 Quarter
Earnings per common and common equivalent share - diluted (in usd per share)	`EarningsPerShareDiluted`	$0.64	USD	1 Quarter
Earnings per common and common equivalent share - diluted (in usd per share)	`EarningsPerShareDiluted`	$0.89	USD	1 Quarter
Weighted average common and common equivalent shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.88M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.79M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.85M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.98M	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`	$0.02	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$13.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.57M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.34M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.72M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$48.00K	USD	1 Quarter
Stock-based compensation attributable to equity awards	`ShareBasedCompensation`	$460.00K	USD	1 Quarter
Stock-based compensation attributable to equity awards	`ShareBasedCompensation`	$760.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$49.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-530.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.73M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.88M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-775.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$884.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-724.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.13M	USD	1 Quarter
Trade accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.44M	USD	1 Quarter
Trade accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.30M	USD	1 Quarter
Current income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$3.16M	USD	1 Quarter
Current income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$3.95M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.41M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.01M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.87M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.22M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$22.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$90.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.85M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.13M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$20.58M	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$431.00K	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$418.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$418.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-24.13M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-431.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$177.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$206.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$178.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$230.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$177.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$206.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$178.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$230.97M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
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`	$0.02	USD	1 Quarter
Beginning balance	`StockholdersEquity`	$734.64M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$777.17M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$779.10M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$720.46M	USD	Point-in-time
Net income	`NetIncomeLoss`	$13.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.61M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$760.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$460.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$431.00K	USD	1 Quarter
Dividends declared	`DividendsCommonStockCash`	$418.00K	USD	1 Quarter
Dividends declared	`DividendsCommonStockCash`	$411.00K	USD	1 Quarter
Purchase of treasury stock (in shares)	`TreasuryStockSharesAcquired`	0.00	shares	1 Quarter
Purchase of treasury stock (in shares)	`TreasuryStockSharesAcquired`	439,112.00	shares	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$20.58M	USD	1 Quarter
Beginning balance	`StockholdersEquity`	$734.64M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$777.17M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$779.10M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$720.46M	USD	Point-in-time

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