10-Q Filing

DRESSER-RAND GROUP INC. CIK: 1316656 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-041073`
Period End Date	20110331
Filing Date	20110428
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	drc-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 42 Cash Flow Statement 59

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for losses on accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$11.10M	USD	Point-in-time
Allowance for losses on accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$11.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$178.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$223.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$294.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$420.80M	USD	Point-in-time
Accounts receivable, less allowance for losses of $11.1 at 2011 and $11.4 at 2010	`AccountsReceivableNetCurrent`	$303.50M	USD	Point-in-time
Accounts receivable, less allowance for losses of $11.1 at 2011 and $11.4 at 2010	`AccountsReceivableNetCurrent`	$278.60M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$291.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$309.50M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpensesAndOther`	$66.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	75.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	80.44M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpensesAndOther`	$36.50M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	80.44M	shares	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetCurrent`	$31.80M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.76M	shares	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetCurrent`	$31.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$981.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.08B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$277.80M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$278.10M	USD	Point-in-time
Goodwill	`Goodwill`	$504.70M	USD	Point-in-time
Goodwill	`Goodwill`	$487.10M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$423.10M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$426.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$29.30M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$41.50M	USD	Point-in-time
Total assets	`Assets`	$2.23B	USD	Point-in-time
Total assets	`Assets`	$2.30B	USD	Point-in-time
Accounts payable and accruals	`AccountsPayableAndAccruedLiabilitiesCurrent`	$401.40M	USD	Point-in-time
Accounts payable and accruals	`AccountsPayableAndAccruedLiabilitiesCurrent`	$371.20M	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$253.60M	USD	Point-in-time
Customer advance payments	`CustomerAdvancesCurrent`	$302.50M	USD	Point-in-time
Accrued income taxes payable	`AccruedIncomeTaxesCurrent`	$21.80M	USD	Point-in-time
Accrued income taxes payable	`AccruedIncomeTaxesCurrent`	$14.10M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$78.70M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$774.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$669.10M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$25.90M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$23.10M	USD	Point-in-time
Postemployment and other employee benefit liabilities	`OtherEmployeeRelatedLiabilitiesCurrentAndNoncurrent`	$109.00M	USD	Point-in-time
Postemployment and other employee benefit liabilities	`OtherEmployeeRelatedLiabilitiesCurrentAndNoncurrent`	$89.70M	USD	Point-in-time
Long-term debt	`SubordinatedLongTermDebt`	$535.00M	USD	Point-in-time
Long-term debt	`SubordinatedLongTermDebt`	$370.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$44.30M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$43.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.22B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.47B	USD	Point-in-time
Common stock, $0.01 par value, 250,000,000 shares authorized; and 75,755,191 and 80,436,896 shares issued and outstanding, respectively	`CommonStockValue`	$800.00K	USD	Point-in-time
Common stock, $0.01 par value, 250,000,000 shares authorized; and 75,755,191 and 80,436,896 shares issued and outstanding, respectively	`CommonStockValue`	$800.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$341.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$784.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$777.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-40.20M	USD	Point-in-time
Total Dresser-Rand stockholders' equity	`StockholdersEquity`	$764.40M	USD	Point-in-time
Total Dresser-Rand stockholders' equity	`StockholdersEquity`	$1.09B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	-	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-2.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.09B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$762.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.30B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.23B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales of products	`SalesRevenueGoodsNet`	$253.40M	USD	1 Quarter
Net sales of products	`SalesRevenueGoodsNet`	$398.50M	USD	1 Quarter
Net sales of services	`SalesRevenueServicesNet`	$100.80M	USD	1 Quarter
Net sales of services	`SalesRevenueServicesNet`	$103.60M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$502.10M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$354.20M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$178.20M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$287.10M	USD	1 Quarter
Cost of services sold	`CostOfServices`	$75.40M	USD	1 Quarter
Cost of services sold	`CostOfServices`	$72.90M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$253.60M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$360.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$142.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$100.60M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$71.40M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$77.00M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$4.40M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$6.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$19.20M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$64.40M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$8.20M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$15.00M	USD	1 Quarter
Early redemption premium on debt	`EarlyRepaymentOfSeniorDebt`	$-8.20M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-16.20M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$3.60M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-400.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$40.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$17.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.20M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-1.60M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$22.30M	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.00M	USD	1 Quarter
Net income attributable to Dresser-Rand	`NetIncomeLoss`	$400.00K	USD	1 Quarter
Net income attributable to Dresser-Rand	`NetIncomeLoss`	$22.30M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	81.86M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	79.45M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	80.25M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.24M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to Dresser-Rand	`NetIncomeLoss`	$400.00K	USD	1 Quarter
Net income attributable to Dresser-Rand	`NetIncomeLoss`	$22.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.80M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$500.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$300.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.60M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$-100.00K	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$600.00K	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$3.40M	USD	1 Quarter
Amortization of debt financing costs	`AmortizationOfFinancingCosts`	$7.80M	USD	1 Quarter
Amortization of debt financing costs	`AmortizationOfFinancingCosts`	$800.00K	USD	1 Quarter
Provision for losses on inventory	`ProvisionForLossesOnInventory`	$400.00K	USD	1 Quarter
Provision for losses on inventory	`ProvisionForLossesOnInventory`	$1.20M	USD	1 Quarter
Loss on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-100.00K	USD	1 Quarter
Loss on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-200.00K	USD	1 Quarter
Net income from equity investment	`GainLossOnSaleOfEquityInvestments`	$100.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-31.10M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-29.40M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-26.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$14.80M	USD	1 Quarter
Accounts payable and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-42.30M	USD	1 Quarter
Accounts payable and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-37.90M	USD	1 Quarter
Customer advances	`IncreaseDecreaseInCustomerAdvances`	$-30.20M	USD	1 Quarter
Customer advances	`IncreaseDecreaseInCustomerAdvances`	$44.40M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$44.90M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$500.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.00M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.50M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.10M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00M	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	1 Quarter
Acquisitions, net of cash	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$58.30M	USD	1 Quarter
Other investments	`PaymentsToAcquireOtherInvestments`	$6.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.40M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-63.20M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$100.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.10M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfSubordinatedLongTermDebt`	$535.00M	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$3.40M	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$600.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$355.00M	USD	1 Quarter
Payments for debt financing costs	`PaymentsOfDebtIssuanceCosts`	$13.20M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfSubordinatedDebt`	$291.30M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfSubordinatedDebt`	$100.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-119.00M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$600.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.70M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$9.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-44.30M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-125.90M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$178.90M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$223.20M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$294.90M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$420.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$178.90M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$223.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$294.90M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$420.80M	USD	Point-in-time

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