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10-Q Filing

BELDEN INC. CIK: 913142 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000913142-23-000014
Period End Date 20230331
Filing Date 20230508
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance bdc-20230402_htm.xml
Filing Contents
Balance Sheet 60 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $687.68M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $589.04M USD Point-in-time
Receivables, net ReceivablesNetCurrent $417.87M USD Point-in-time
Receivables, net ReceivablesNetCurrent $440.10M USD Point-in-time
Inventories, net InventoryNet $370.73M USD Point-in-time
Inventories, net InventoryNet $341.56M USD Point-in-time
Other current assets OtherAssetsCurrent $63.43M USD Point-in-time
Other current assets OtherAssetsCurrent $66.87M USD Point-in-time
Total current assets AssetsCurrent $1.44B USD Point-in-time
Total current assets AssetsCurrent $1.54B USD Point-in-time
Property, plant and equipment, less accumulated depreciation PropertyPlantAndEquipmentNet $381.90M USD Point-in-time
Property, plant and equipment, less accumulated depreciation PropertyPlantAndEquipmentNet $381.86M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $74.45M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $73.38M USD Point-in-time
Goodwill Goodwill $862.25M USD Point-in-time
Goodwill Goodwill $864.24M USD Point-in-time
Intangible assets, less accumulated amortization IntangibleAssetsNetExcludingGoodwill $243.00M USD Point-in-time
Intangible assets, less accumulated amortization IntangibleAssetsNetExcludingGoodwill $246.83M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $14.64M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $14.80M USD Point-in-time
Other long-lived assets OtherAssetsNoncurrent $46.50M USD Point-in-time
Other long-lived assets OtherAssetsNoncurrent $47.31M USD Point-in-time
Total assets Assets $3.07B USD Point-in-time
Total assets Assets $3.16B USD Point-in-time
Accounts payable AccountsPayableCurrent $350.06M USD Point-in-time
Accounts payable AccountsPayableCurrent $295.05M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $239.44M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $289.86M USD Point-in-time
Total current liabilities LiabilitiesCurrent $639.92M USD Point-in-time
Total current liabilities LiabilitiesCurrent $534.49M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.16B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.18B USD Point-in-time
Postretirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $67.83M USD Point-in-time
Postretirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $67.40M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $58.49M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $58.58M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $61.40M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $59.25M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $31.77M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $30.97M USD Point-in-time
Common stock CommonStockValue $503.00K USD Point-in-time
Common stock CommonStockValue $503.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $809.60M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $825.67M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $812.56M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $751.52M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-23.17M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.87M USD Point-in-time
Treasury stock TreasuryStockCommonValue $465.97M USD Point-in-time
Treasury stock TreasuryStockCommonValue $428.81M USD Point-in-time
Total Belden stockholders equity StockholdersEquity $1.14B USD Point-in-time
Total Belden stockholders equity StockholdersEquity $1.13B USD Point-in-time
Noncontrolling interests MinorityInterest $939.00K USD Point-in-time
Noncontrolling interests MinorityInterest $694.00K USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.14B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $956.08M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.13B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $947.60M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $3.16B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $3.07B USD Point-in-time
Income Statement 60 line items
Line Item Tag Value Unit Period
Revenues Revenues $641.79M USD 1 Quarter
Revenues Revenues $610.37M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $401.51M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $395.68M USD 1 Quarter
Gross profit GrossProfit $208.86M USD 1 Quarter
Gross profit GrossProfit $246.10M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $121.57M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $103.07M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $23.46M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $29.38M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $9.61M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $8.82M USD 1 Quarter
Operating income OperatingIncomeLoss $85.54M USD 1 Quarter
Operating income OperatingIncomeLoss $73.52M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-14.41M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-8.20M USD 1 Quarter
Non-operating pension benefit PensionCostBenefitNonoperating $-488.00K USD 1 Quarter
Non-operating pension benefit PensionCostBenefitNonoperating $-1.20M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-6.39M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Income from continuing operations before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $53.92M USD 1 Quarter
Income from continuing operations before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $77.82M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $9.82M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $14.88M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $44.10M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $62.95M USD 1 Quarter
Loss from discontinued operations, net of tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax - USD 1 Quarter
Loss from discontinued operations, net of tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax $-3.69M USD 1 Quarter
Loss on disposal of discontinued operations, net of tax DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax - USD 1 Quarter
Loss on disposal of discontinued operations, net of tax DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax $-4.57M USD 1 Quarter
Net income ProfitLoss $35.84M USD 1 Quarter
Net income ProfitLoss $62.95M USD 1 Quarter
Less: Net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $3.00K USD 1 Quarter
Less: Net income (loss) attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-247.00K USD 1 Quarter
Net income attributable to Belden stockholders NetIncomeLoss $63.19M USD 1 Quarter
Net income attributable to Belden stockholders NetIncomeLoss $35.84M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 44.81M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 42.83M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 45.57M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 43.67M shares 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $1.48 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.98 USD 1 Quarter
Discontinued operations (in dollars per share) DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare $-0.08 USD 1 Quarter
Discontinued operations (in dollars per share) DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare - USD 1 Quarter
Disposal of discontinued operations (in dollars per share) DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare $-0.10 USD 1 Quarter
Disposal of discontinued operations (in dollars per share) DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare - USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $1.48 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareBasic $0.80 USD 1 Quarter
Continuing operation (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.97 USD 1 Quarter
Continuing operation (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $1.45 USD 1 Quarter
Discontinued operations (in dollars per share) DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare $-0.08 USD 1 Quarter
Discontinued operations (in dollars per share) DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare - USD 1 Quarter
Disposal of discontinued operations (in dollars per share) DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerDilutedShare $-0.10 USD 1 Quarter
Disposal of discontinued operations (in dollars per share) DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerDilutedShare - USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $1.45 USD 1 Quarter
Net income (in dollars per share) EarningsPerShareDiluted $0.79 USD 1 Quarter
Comprehensive income attributable to Belden ComprehensiveIncomeNetOfTax $39.77M USD 1 Quarter
Comprehensive income attributable to Belden ComprehensiveIncomeNetOfTax $45.89M USD 1 Quarter
Common stock dividends declared per share (usd per share) CommonStockDividendsPerShareDeclared $0.05 USD 1 Quarter
Common stock dividends declared per share (usd per share) CommonStockDividendsPerShareDeclared $0.05 USD 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $35.84M USD 1 Quarter
Net income ProfitLoss $62.95M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $21.08M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $23.42M USD 1 Quarter
Share-based compensation ShareBasedCompensation $6.25M USD 1 Quarter
Share-based compensation ShareBasedCompensation $5.22M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-6.39M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $-13.93M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $-37.62M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $28.15M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $46.96M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-56.06M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-21.37M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-83.53M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-54.55M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $2.70M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $2.21M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $4.11M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $2.92M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-11.55M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $1.75M USD 1 Quarter
Net cash used for operating activities NetCashProvidedByUsedInOperatingActivities $-31.87M USD 1 Quarter
Net cash used for operating activities NetCashProvidedByUsedInOperatingActivities $-57.95M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $13.84M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $10.96M USD 1 Quarter
Cash used for business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $65.99M USD 1 Quarter
Cash used for business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Proceeds from disposal of tangible assets ProceedsFromSaleOfPropertyPlantAndEquipment $1.00K USD 1 Quarter
Proceeds from disposal of tangible assets ProceedsFromSaleOfPropertyPlantAndEquipment $56.00K USD 1 Quarter
Proceeds from disposal of businesses, net of cash sold ProceedsFromDivestitureOfBusinessesNetOfCashDivested $338.69M USD 1 Quarter
Proceeds from disposal of businesses, net of cash sold ProceedsFromDivestitureOfBusinessesNetOfCashDivested $10.00M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $261.79M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-3.84M USD 1 Quarter
Payments under share repurchase program ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase $-50.00M USD 1 Quarter
Payments under share repurchase program ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase $-50.00M USD 1 Quarter
Withholding tax payments for share-based payment awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.70M USD 1 Quarter
Withholding tax payments for share-based payment awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $13.29M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $2.28M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $2.15M USD 1 Quarter
Payments under financing lease obligations ProceedsFromPaymentsForOtherFinancingActivities $-45.00K USD 1 Quarter
Payments under financing lease obligations ProceedsFromPaymentsForOtherFinancingActivities $-38.00K USD 1 Quarter
Payments under borrowing arrangements RepaymentsOfLongTermLinesOfCredit $230.64M USD 1 Quarter
Payments under borrowing arrangements RepaymentsOfLongTermLinesOfCredit - USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $1.68M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-63.80M USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-286.66M USD 1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $881.00K USD 1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-1.35M USD 1 Quarter
Decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-98.63M USD 1 Quarter
Decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-84.17M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $589.04M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $643.76M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $559.58M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $687.68M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $589.04M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $643.76M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $559.58M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $687.68M USD Point-in-time
Stockholders Equity 30 line items
Line Item Tag Value Unit Period
Common stock dividends declared per share (usd per share) CommonStockDividendsPerShareDeclared $0.05 USD 1 Quarter
Common stock dividends declared per share (usd per share) CommonStockDividendsPerShareDeclared $0.05 USD 1 Quarter
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.14B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $956.08M USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.13B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $947.60M USD Point-in-time
Net income (loss) ProfitLoss $35.84M USD 1 Quarter
Net income (loss) ProfitLoss $62.95M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-17.30M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $3.96M USD 1 Quarter
Common stock issuance StockIssuedDuringPeriodValueNewIssues $1.68M USD 1 Quarter
Retirement Savings Plan stock contributions StockIssuedDuringPeriodValueStockContributionRetirementSavingsPlan $2.45M USD 1 Quarter
Retirement Savings Plan stock contributions StockIssuedDuringPeriodValueStockContributionRetirementSavingsPlan $2.40M USD 1 Quarter
Exercise of stock options, net of tax withholding forfeitures StockIssuedDuringPeriodValueShareBasedCompensation $-151.00K USD 1 Quarter
Exercise of stock options, net of tax withholding forfeitures StockIssuedDuringPeriodValueShareBasedCompensation $-2.60M USD 1 Quarter
Conversion of restricted stock units into common stock, net of tax withholding forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-10.70M USD 1 Quarter
Conversion of restricted stock units into common stock, net of tax withholding forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-3.55M USD 1 Quarter
Share repurchase program, net of excise tax StockRepurchasedDuringPeriodNetOfExciseTaxValue $50.27M USD 1 Quarter
Share repurchase program, net of excise tax (in shares) StockRepurchasedDuringPeriodShares 600,000.00 shares 1 Quarter
Share repurchase program, net of excise tax (in shares) StockRepurchasedDuringPeriodShares 900,000.00 shares 1 Quarter
Share repurchase program, net of excise tax StockRepurchasedDuringPeriodValue $50.00M USD 1 Quarter
Share repurchase program, net of excise tax StockRepurchasedDuringPeriodValue $50.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $5.22M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.25M USD 1 Quarter
Common stock dividends DividendsCommonStockCash $2.26M USD 1 Quarter
Common stock dividends DividendsCommonStockCash $2.15M USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.14B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $956.08M USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.13B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $947.60M USD Point-in-time

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

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