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10-Q Filing

GENERAL CABLE CORP /DE/ CIK: 886035 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000886035-17-000021
Period End Date 20170331
Filing Date 20170504
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance bgc-20170331.xml
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Allowances for receivables AllowanceForDoubtfulAccountsReceivableCurrent $22.60M USD Point-in-time
Allowances for receivables AllowanceForDoubtfulAccountsReceivableCurrent $20.20M USD Point-in-time
Common stock, par value (usd per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (usd per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $101.10M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $83.40M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 49.39M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $112.40M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 49.62M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $120.30M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 49.62M shares Point-in-time
Receivables, net of allowances of $22.6 million at March 31, 2017 and $20.2 million at December 31, 2016 ReceivablesNetCurrent $664.50M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 49.39M shares Point-in-time
Receivables, net of allowances of $22.6 million at March 31, 2017 and $20.2 million at December 31, 2016 ReceivablesNetCurrent $673.90M USD Point-in-time
Inventories InventoryNet $768.20M USD Point-in-time
Treasury stock (in shares) TreasuryStockShares 9.19M shares Point-in-time
Treasury stock (in shares) TreasuryStockShares 9.42M shares Point-in-time
Inventories InventoryNet $818.10M USD Point-in-time
Prepaid expenses and other PrepaidExpenseCurrent $65.40M USD Point-in-time
Prepaid expenses and other PrepaidExpenseCurrent $82.40M USD Point-in-time
Total current assets AssetsCurrent $1.66B USD Point-in-time
Total current assets AssetsCurrent $1.60B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $529.00M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $529.30M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $20.40M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $20.00M USD Point-in-time
Goodwill Goodwill $12.10M USD Point-in-time
Goodwill Goodwill $12.00M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $27.10M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $28.30M USD Point-in-time
Unconsolidated affiliated companies EquityMethodInvestments $200.00K USD Point-in-time
Unconsolidated affiliated companies EquityMethodInvestments $9.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $43.40M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $47.60M USD Point-in-time
Total assets Assets $2.24B USD Point-in-time
Total assets Assets $2.29B USD Point-in-time
Accounts payable AccountsPayableCurrent $424.90M USD Point-in-time
Accounts payable AccountsPayableCurrent $414.00M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $419.60M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $340.80M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $59.60M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $67.50M USD Point-in-time
Total current liabilities LiabilitiesCurrent $825.30M USD Point-in-time
Total current liabilities LiabilitiesCurrent $901.10M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $871.10M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $992.90M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $126.70M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $124.00M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $170.60M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $173.80M USD Point-in-time
Total liabilities Liabilities $2.11B USD Point-in-time
Total liabilities Liabilities $2.07B USD Point-in-time
Commitments and contingencies (see Note 17) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (see Note 17) CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.01 par value, issued and outstanding shares: March 31, 2017 49,615,292 (net of 9,194,674 treasury shares), December 31, 2016 49,390,850 (net of 9,419,116 treasury shares) CommonStockValue $600.00K USD Point-in-time
Common stock, $0.01 par value, issued and outstanding shares: March 31, 2017 49,615,292 (net of 9,194,674 treasury shares), December 31, 2016 49,390,850 (net of 9,419,116 treasury shares) CommonStockValue $600.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $711.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $705.90M USD Point-in-time
Treasury stock TreasuryStockValue $166.00M USD Point-in-time
Treasury stock TreasuryStockValue $169.90M USD Point-in-time
Retained earnings (deficit) RetainedEarningsAccumulatedDeficit $-102.20M USD Point-in-time
Retained earnings (deficit) RetainedEarningsAccumulatedDeficit $-98.30M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-286.40M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-276.90M USD Point-in-time
Total Company shareholders equity StockholdersEquity $165.30M USD Point-in-time
Total Company shareholders equity StockholdersEquity $153.10M USD Point-in-time
Noncontrolling interest MinorityInterest $15.80M USD Point-in-time
Noncontrolling interest MinorityInterest $15.70M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $261.60M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $181.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $242.90M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $168.90M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.24B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.29B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Net sales Revenues $918.20M USD 1 Quarter
Net sales Revenues $1.00B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $891.80M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $799.60M USD 1 Quarter
Gross profit GrossProfit $118.60M USD 1 Quarter
Gross profit GrossProfit $110.90M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $88.50M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $94.80M USD 1 Quarter
Goodwill impairment charges GoodwillImpairmentLoss - USD 1 Quarter
Goodwill impairment charges GoodwillImpairmentLoss $1.60M USD 1 Quarter
Intangible asset impairment charges ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill $300.00K USD 1 Quarter
Intangible asset impairment charges ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill - USD 1 Quarter
Operating income OperatingIncomeLoss $20.50M USD 1 Quarter
Operating income OperatingIncomeLoss $23.80M USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $15.00M USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-1.20M USD 1 Quarter
Interest expense InterestExpense $20.70M USD 1 Quarter
Interest expense InterestExpense $21.90M USD 1 Quarter
Interest income InvestmentIncomeInterest $600.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $500.00K USD 1 Quarter
Interest income (expense), total InterestIncomeExpenseNet $-21.40M USD 1 Quarter
Interest income (expense), total InterestIncomeExpenseNet $-20.10M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-2.10M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $18.70M USD 1 Quarter
Income tax (provision) benefit IncomeTaxExpenseBenefit $6.30M USD 1 Quarter
Income tax (provision) benefit IncomeTaxExpenseBenefit $2.40M USD 1 Quarter
Equity in net earnings of affiliated companies IncomeLossFromEquityMethodInvestments $100.00K USD 1 Quarter
Equity in net earnings of affiliated companies IncomeLossFromEquityMethodInvestments - USD 1 Quarter
Net income (loss) including noncontrolling interest ProfitLoss $-4.40M USD 1 Quarter
Net income (loss) including noncontrolling interest ProfitLoss $12.40M USD 1 Quarter
Less: net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $300.00K USD 1 Quarter
Less: net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net income (loss) attributable to Company common shareholders NetIncomeLossAvailableToCommonStockholdersBasic $12.40M USD 1 Quarter
Net income (loss) attributable to Company common shareholders NetIncomeLossAvailableToCommonStockholdersBasic $-4.70M USD 1 Quarter
Earnings (loss) per common share-basic (per share) EarningsPerShareBasic $0.25 USD 1 Quarter
Earnings (loss) per common share-basic (per share) EarningsPerShareBasic $-0.10 USD 1 Quarter
Earnings (loss) per common share - assuming dilution (per share) EarningsPerShareDiluted $-0.10 USD 1 Quarter
Earnings (loss) per common share - assuming dilution (per share) EarningsPerShareDiluted $0.24 USD 1 Quarter
Dividends per common share (per share) CommonStockDividendsPerShareCashPaid $0.18 USD 1 Quarter
Dividends per common share (per share) CommonStockDividendsPerShareCashPaid $0.18 USD 1 Quarter
Net income (loss) ProfitLoss $-4.40M USD 1 Quarter
Net income (loss) ProfitLoss $12.40M USD 1 Quarter
Currency translation gain (loss) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $31.50M USD 1 Quarter
Currency translation gain (loss) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $8.60M USD 1 Quarter
Defined benefit plan adjustments, net of tax of $0.4 million in the three months ended March 31, 2017 and $0.9 million in the three months ended April 1, 2016 OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.30M USD 1 Quarter
Defined benefit plan adjustments, net of tax of $0.4 million in the three months ended March 31, 2017 and $0.9 million in the three months ended April 1, 2016 OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-800.00K USD 1 Quarter
Comprehensive income (loss), net of tax ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $28.40M USD 1 Quarter
Comprehensive income (loss), net of tax ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $21.80M USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interest, net of tax ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-100.00K USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interest, net of tax ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $500.00K USD 1 Quarter
Comprehensive income (loss) attributable to Company common shareholders, net of tax ComprehensiveIncomeNetOfTax $27.90M USD 1 Quarter
Comprehensive income (loss) attributable to Company common shareholders, net of tax ComprehensiveIncomeNetOfTax $21.90M USD 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net income (loss) including noncontrolling interest ProfitLoss $-4.40M USD 1 Quarter
Net income (loss) including noncontrolling interest ProfitLoss $12.40M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $19.50M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $21.20M USD 1 Quarter
Foreign currency exchange (gain) loss ForeignCurrencyTransactionGainLossUnrealized $2.00M USD 1 Quarter
Foreign currency exchange (gain) loss ForeignCurrencyTransactionGainLossUnrealized $-500.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $3.10M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-2.30M USD 1 Quarter
Non-cash asset impairment charges AssetImpairmentCharges $8.60M USD 1 Quarter
Non-cash asset impairment charges AssetImpairmentCharges - USD 1 Quarter
Non-cash interest charges InterestExpenseDebt $1.00M USD 1 Quarter
Non-cash interest charges InterestExpenseDebt $900.00K USD 1 Quarter
(Gain) loss on disposal of subsidiaries DisposalGroupNotDiscontinuedOperationGainLossOnDisposal $2.00M USD 1 Quarter
(Gain) loss on disposal of subsidiaries DisposalGroupNotDiscontinuedOperationGainLossOnDisposal $-3.50M USD 1 Quarter
(Gain) loss on disposal of property GainLossOnSaleOfPropertyPlantEquipment $-2.90M USD 1 Quarter
(Gain) loss on disposal of property GainLossOnSaleOfPropertyPlantEquipment $-500.00K USD 1 Quarter
(Increase) decrease in receivables IncreaseDecreaseInAccountsReceivable $91.00M USD 1 Quarter
(Increase) decrease in receivables IncreaseDecreaseInAccountsReceivable $1.90M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $-3.40M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $42.80M USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $2.80M USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $2.00M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $19.10M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $41.60M USD 1 Quarter
Increase (decrease) in accrued and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-21.00M USD 1 Quarter
Increase (decrease) in accrued and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-95.40M USD 1 Quarter
Net cash flows of operating activities NetCashProvidedByUsedInOperatingActivities $-40.60M USD 1 Quarter
Net cash flows of operating activities NetCashProvidedByUsedInOperatingActivities $-88.80M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $14.30M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $35.20M USD 1 Quarter
Proceeds from properties sold ProceedsFromSaleOfProductiveAssets $200.00K USD 1 Quarter
Proceeds from properties sold ProceedsFromSaleOfProductiveAssets $300.00K USD 1 Quarter
Disposal of subsidiaries, net of cash disposed of ProceedsFromDivestitureOfBusinessesNetOfCashDivested $-100.00K USD 1 Quarter
Disposal of subsidiaries, net of cash disposed of ProceedsFromDivestitureOfBusinessesNetOfCashDivested $5.30M USD 1 Quarter
Net cash flows of investing activities NetCashProvidedByUsedInInvestingActivities $-14.20M USD 1 Quarter
Net cash flows of investing activities NetCashProvidedByUsedInInvestingActivities $-29.60M USD 1 Quarter
Dividends paid to shareholders PaymentsOfDividendsPreferredStockAndPreferenceStock $9.40M USD 1 Quarter
Dividends paid to shareholders PaymentsOfDividendsPreferredStockAndPreferenceStock $8.90M USD 1 Quarter
Proceeds from debt ProceedsFromOtherDebt $389.90M USD 1 Quarter
Proceeds from debt ProceedsFromOtherDebt $731.70M USD 1 Quarter
Repayments of debt RepaymentsOfOtherDebt $622.40M USD 1 Quarter
Repayments of debt RepaymentsOfOtherDebt $321.90M USD 1 Quarter
Net cash flows of financing activities NetCashProvidedByUsedInFinancingActivities $59.10M USD 1 Quarter
Net cash flows of financing activities NetCashProvidedByUsedInFinancingActivities $99.90M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $800.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $3.60M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $7.90M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-17.70M USD 1 Quarter
Cash and cash equivalents beginning of period CashAndCashEquivalentsAtCarryingValue $101.10M USD Point-in-time
Cash and cash equivalents beginning of period CashAndCashEquivalentsAtCarryingValue $83.40M USD Point-in-time
Cash and cash equivalents beginning of period CashAndCashEquivalentsAtCarryingValue $112.40M USD Point-in-time
Cash and cash equivalents beginning of period CashAndCashEquivalentsAtCarryingValue $120.30M USD Point-in-time
Cash and cash equivalents end of period CashAndCashEquivalentsAtCarryingValue $101.10M USD Point-in-time
Cash and cash equivalents end of period CashAndCashEquivalentsAtCarryingValue $83.40M USD Point-in-time
Cash and cash equivalents end of period CashAndCashEquivalentsAtCarryingValue $112.40M USD Point-in-time
Cash and cash equivalents end of period CashAndCashEquivalentsAtCarryingValue $120.30M USD Point-in-time
Income tax payments, net of refunds IncomeTaxesPaidNet $11.40M USD 1 Quarter
Income tax payments, net of refunds IncomeTaxesPaidNet $2.60M USD 1 Quarter
Interest paid InterestPaid $24.30M USD 1 Quarter
Interest paid InterestPaid $22.90M USD 1 Quarter
Capital expenditures included in accounts payable CapitalExpendituresIncurredButNotYetPaid $11.20M USD 1 Quarter
Capital expenditures included in accounts payable CapitalExpendituresIncurredButNotYetPaid $11.10M USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $261.60M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $181.00M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $242.90M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $168.90M USD Point-in-time
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $28.40M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $21.80M USD 1 Quarter
Common stock dividend DividendsCommonStockCash $9.40M USD 1 Quarter
Common stock dividend DividendsCommonStockCash $8.90M USD 1 Quarter
Excess tax benefit (deficiency) from stock based compensation AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet $-3.00M USD 1 Quarter
Stock options and RSU expense AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $3.50M USD 1 Quarter
Stock options and RSU expense AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $1.60M USD 1 Quarter
Other issuance pursuant to restricted stock, stock options and other ShareholdersEquityOther $1.90M USD 1 Quarter
Other issuance pursuant to restricted stock, stock options and other ShareholdersEquityOther $1.30M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $261.60M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $181.00M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $242.90M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $168.90M USD Point-in-time
Comprehensive Income 2 line items
Line Item Tag Value Unit Period
Defined benefit plan adjustments, tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax $-400.00K USD 1 Quarter
Defined benefit plan adjustments, tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax $-900.00K USD 1 Quarter

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

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