10-Q Filing

ENCORE WIRE CORP CIK: 850460 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000850460-21-000034`
Period End Date	20210331
Filing Date	20210428
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	wire-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 28 Cash Flow Statement 48 Stockholders Equity 21

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.34M	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.21M	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`	$183.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$154.97M	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 $2,337 and $2,215	`AccountsReceivableNetCurrent`	$348.71M	USD	Point-in-time
Accounts receivable, net of allowance of $2,337 and $2,215	`AccountsReceivableNetCurrent`	$275.78M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$90.34M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$92.32M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.26M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	27.04M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	27.03M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$2.65M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$2.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$596.30M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	6.47M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	6.47M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$555.13M	USD	Point-in-time
Land and land improvements	`LandAndLandImprovements`	$60.66M	USD	Point-in-time
Land and land improvements	`LandAndLandImprovements`	$60.66M	USD	Point-in-time
Construction-in-progress	`ConstructionInProgressGross`	$113.79M	USD	Point-in-time
Construction-in-progress	`ConstructionInProgressGross`	$91.69M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$153.14M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$153.09M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$373.90M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$378.46M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$15.35M	USD	Point-in-time
Furniture and fixtures	`FurnitureAndFixturesGross`	$12.02M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$694.69M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$718.07M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$283.92M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$284.85M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$433.22M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$410.77M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$553.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$670.00K	USD	Point-in-time
Total assets	`Assets`	$966.45M	USD	Point-in-time
Total assets	`Assets`	$1.03B	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$56.73M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$69.81M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$34.89M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$36.87M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$13.19M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$93.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$117.89M	USD	Point-in-time
Deferred income taxes and other	`DeferredIncomeTaxLiabilitiesNet`	$32.90M	USD	Point-in-time
Deferred income taxes and other	`DeferredIncomeTaxLiabilitiesNet`	$35.13M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock value	`PreferredStockValue`	-	USD	Point-in-time
Common stock value	`CommonStockValue`	$270.00K	USD	Point-in-time
Common stock value	`CommonStockValue`	$270.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$67.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$68.78M	USD	Point-in-time
Treasury stock, at cost 6,468,705 and 6,468,705 shares	`TreasuryStockValue`	$111.72M	USD	Point-in-time
Treasury stock, at cost 6,468,705 and 6,468,705 shares	`TreasuryStockValue`	$111.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$881.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$922.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$777.17M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$879.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$837.73M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$779.10M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.03B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$966.45M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$444.14M	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`	$359.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$84.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$45.77M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$31.15M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$22.29M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$53.35M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$23.48M	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$884.00K	USD	1 Quarter
Net interest and other income	`NonoperatingIncomeExpense`	$25.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$53.38M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$24.37M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.76M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$41.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.61M	USD	1 Quarter
Earnings per common and common equivalent share - basic (in usd per share)	`EarningsPerShareBasic`	$2.00	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 - diluted (in usd per share)	`EarningsPerShareDiluted`	$1.99	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`	20.57M	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`	20.72M	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 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$41.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.57M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.28M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.72M	USD	1 Quarter
Stock-based compensation attributable to equity awards	`ShareBasedCompensation`	$737.00K	USD	1 Quarter
Stock-based compensation attributable to equity awards	`ShareBasedCompensation`	$460.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-48.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-530.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$72.93M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.73M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.98M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$884.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.13M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-907.00K	USD	1 Quarter
Trade accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.30M	USD	1 Quarter
Trade accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$9.75M	USD	1 Quarter
Current income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$3.16M	USD	1 Quarter
Current income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$14.45M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.01M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-845.00K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.50M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.22M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$90.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.13M	USD	1 Quarter
Deferred financing fees	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Deferred financing fees	`PaymentsOfFinancingCosts`	$550.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$20.58M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$155.00K	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$411.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$418.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-806.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-28.16M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-24.13M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$154.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$183.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$230.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$206.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$154.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$183.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$230.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$206.84M	USD	Point-in-time

Stockholders Equity 21 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`	$777.17M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$879.40M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$837.73M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$779.10M	USD	Point-in-time
Net income	`NetIncomeLoss`	$41.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.61M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$155.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$460.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$737.00K	USD	1 Quarter
Dividends declared	`DividendsCommonStockCash`	$413.00K	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
Ending balance	`StockholdersEquity`	$777.17M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$879.40M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$837.73M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$779.10M	USD	Point-in-time

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