10-Q Filing

Ranpak Holdings Corp. CIK: 1712463 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000950170-22-008023`
Period End Date	20220331
Filing Date	20220506
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	pack-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 46 Cash Flow Statement 62 Stockholders Equity 16

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	426.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$103.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$47.60M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$43.70M	USD	Point-in-time
Inventories, net	`InventoryNet`	$32.90M	USD	Point-in-time
Inventories, net	`InventoryNet`	$41.20M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.70M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$6.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.30M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$187.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$191.50M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$126.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$123.10M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$5.90M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$6.60M	USD	Point-in-time
Goodwill	`Goodwill`	$451.30M	USD	Point-in-time
Goodwill	`Goodwill`	$453.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$406.50M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$398.60M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$100.00K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$29.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.40M	USD	Point-in-time
Total assets	`Assets`	$1.20B	USD	Point-in-time
Total assets	`Assets`	$1.21B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.40M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$31.50M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$23.00M	USD	Point-in-time
Current portion of long-term debt	`CurrentPortionOfLongTermDebtAndFinanceLeaseLiabilities`	$1.00M	USD	Point-in-time
Current portion of long-term debt	`CurrentPortionOfLongTermDebtAndFinanceLeaseLiabilities`	$1.00M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$2.40M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$2.20M	USD	Point-in-time
Deferred machine fee revenue	`ContractWithCustomerLiabilityCurrent`	$2.10M	USD	Point-in-time
Deferred machine fee revenue	`ContractWithCustomerLiabilityCurrent`	$3.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$71.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$67.70M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$400.40M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$398.10M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$97.70M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$98.00M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesNoncurrent`	$2.40M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$3.80M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$4.30M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$900.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$577.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$568.90M	USD	Point-in-time
Commitments and contingencies - Note 13	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies - Note 13	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$694.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$688.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-69.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.30M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.60M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.00M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$636.20M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$522.90M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$523.80M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$631.40M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.20B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.21B	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`Revenues`	$87.70M	USD	1 Quarter
Net revenue	`Revenues`	$82.50M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$51.40M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$57.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$36.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$24.60M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$29.70M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$19.10M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$8.20M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$8.70M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-800.00K	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-500.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-13.80M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$7.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00M	USD	1 Quarter
Foreign currency gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.60M	USD	1 Quarter
Foreign currency gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$600.00K	USD	1 Quarter
Income (loss) before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.70M	USD	1 Quarter
Income (loss) before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.20M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$4.10M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$600.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-14.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.30M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	81.57M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	73.56M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	76.25M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.57M	shares	1 Quarter
Foreign currency translation, adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-2.80M	USD	1 Quarter
Foreign currency translation, adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-8.40M	USD	1 Quarter
Interest rate swap adjustments	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$2.60M	USD	1 Quarter
Interest rate swap adjustments	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$8.10M	USD	1 Quarter
Cross currency swap adjustments	`OtherComprehensiveIncomeLossCrossCurrencySwapAdjustmentsBeforeTax`	-	USD	1 Quarter
Cross currency swap adjustments	`OtherComprehensiveIncomeLossCrossCurrencySwapAdjustmentsBeforeTax`	$100.00K	USD	1 Quarter
Total other comprehensive income (loss), before tax	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$5.40M	USD	1 Quarter
Total other comprehensive income (loss), before tax	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-5.80M	USD	1 Quarter
Provision for income taxes related to other comprehensive income (loss)	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$2.00M	USD	1 Quarter
Provision for income taxes related to other comprehensive income (loss)	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$600.00K	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-6.40M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$3.40M	USD	1 Quarter
Comprehensive loss, net of tax	`ComprehensiveIncomeNetOfTax`	$-100.00K	USD	1 Quarter
Comprehensive loss, net of tax	`ComprehensiveIncomeNetOfTax`	$-10.70M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-14.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.80M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-200.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-1.40M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-1.40M	USD	1 Quarter
Amortization of initial value of interest rate swap	`AmortizationOfDeferredHedgeGains`	$-200.00K	USD	1 Quarter
Amortization of initial value of interest rate swap	`AmortizationOfDeferredHedgeGains`	$-200.00K	USD	1 Quarter
Currency gain on foreign denominated debt and notes payable	`ForeignCurrencyTransactionGainLossUnrealized`	$200.00K	USD	1 Quarter
Currency gain on foreign denominated debt and notes payable	`ForeignCurrencyTransactionGainLossUnrealized`	$3.60M	USD	1 Quarter
Amortization of restricted stock units	`RestrictedStockExpense`	$8.80M	USD	1 Quarter
Amortization of restricted stock units	`RestrictedStockExpense`	$2.70M	USD	1 Quarter
(Increase) decrease in receivables, net	`IncreaseDecreaseInAccountsReceivable`	$4.80M	USD	1 Quarter
(Increase) decrease in receivables, net	`IncreaseDecreaseInAccountsReceivable`	$3.00M	USD	1 Quarter
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$5.50M	USD	1 Quarter
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$7.60M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.20M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-100.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.80M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.90M	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-4.90M	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-300.00K	USD	1 Quarter
Change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.90M	USD	1 Quarter
Change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.90M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.40M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.50M	USD	1 Quarter
Converter equipment	`PaymentsToAcquireMachineryAndEquipment`	$8.40M	USD	1 Quarter
Converter equipment	`PaymentsToAcquireMachineryAndEquipment`	$8.00M	USD	1 Quarter
Other capital expenditures	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$1.40M	USD	1 Quarter
Other capital expenditures	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$2.90M	USD	1 Quarter
Total capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.90M	USD	1 Quarter
Total capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.80M	USD	1 Quarter
Patent and trademark expenditures	`PaymentsToAcquireIntangibleAssets`	$900.00K	USD	1 Quarter
Patent and trademark expenditures	`PaymentsToAcquireIntangibleAssets`	$300.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.70M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.20M	USD	1 Quarter
Principal payments on term loans	`RepaymentsOfLinesOfCredit`	$400.00K	USD	1 Quarter
Principal payments on term loans	`RepaymentsOfLinesOfCredit`	$400.00K	USD	1 Quarter
Payments on finance lease liabilities	`FinanceLeasePrincipalPayments`	$200.00K	USD	1 Quarter
Payments on finance lease liabilities	`FinanceLeasePrincipalPayments`	$200.00K	USD	1 Quarter
Exit payment	`ExitPayment`	$8.20M	USD	1 Quarter
Exit payment	`ExitPayment`	-	USD	1 Quarter
Tax payments for withholdings on stock-based awards distributed	`TaxPaymentsForWithholdingsOnStockBasedAwardsDistributed`	-	USD	1 Quarter
Tax payments for withholdings on stock-based awards distributed	`TaxPaymentsForWithholdingsOnStockBasedAwardsDistributed`	$-2.50M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.80M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.10M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-200.00K	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-500.00K	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-23.40M	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.00M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.90M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.50M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.50M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.50M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.90M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.50M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.50M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.50M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$636.20M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$522.90M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$523.80M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$631.40M	USD	Point-in-time
Stock-based awards vested and distributed	`StockIssuedDuringPeriodValueNewIssues`	$-2.90M	USD	1 Quarter
Stock-based awards vested and distributed	`StockIssuedDuringPeriodValueNewIssues`	$-1.70M	USD	1 Quarter
Amortization of restricted stock units	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$2.70M	USD	1 Quarter
Amortization of restricted stock units	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$8.80M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-14.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.30M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-6.40M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$3.40M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$636.20M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$522.90M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$523.80M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$631.40M	USD	Point-in-time

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