10-Q Filing

LSB INDUSTRIES, INC. CIK: 60714 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-017168`
Period End Date	20230331
Filing Date	20230503
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	lxu-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 26 Cash Flow Statement 55 Stockholders Equity 14

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.20M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$63.77M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.20M	shares	Point-in-time
Treasury stock, common shares	`TreasuryStockCommonShares`	15.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$330.55M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$376.88M	USD	Point-in-time
Treasury stock, common shares	`TreasuryStockCommonShares`	14.90M	shares	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$60.25M	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$75.49M	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$86.90M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$699.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$693.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$74.80M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$59.56M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$28.10M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$28.89M	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$1.99M	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$1.53M	USD	Point-in-time
Total inventories	`InventoryNet`	$29.63M	USD	Point-in-time
Total inventories	`InventoryNet`	$30.88M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$12.27M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$17.43M	USD	Point-in-time
Precious metals	`PreciousMetals`	$13.32M	USD	Point-in-time
Precious metals	`PreciousMetals`	$14.47M	USD	Point-in-time
Supplies	`Supplies`	$28.57M	USD	Point-in-time
Supplies	`Supplies`	$27.50M	USD	Point-in-time
Other	`OtherPrepaidExpenseCurrent`	$8.35M	USD	Point-in-time
Other	`OtherPrepaidExpenseCurrent`	$9.49M	USD	Point-in-time
Total supplies, prepaid items and other	`SuppliesPrepaidItemsAndOther`	$64.81M	USD	Point-in-time
Total supplies, prepaid items and other	`SuppliesPrepaidItemsAndOther`	$66.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$579.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$566.60M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$842.92M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$848.66M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$21.32M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$22.68M	USD	Point-in-time
Intangible and other assets, net	`IntangiblesAndOtherAssetsNet`	$1.70M	USD	Point-in-time
Intangible and other assets, net	`IntangiblesAndOtherAssetsNet`	$1.88M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$23.02M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$24.56M	USD	Point-in-time
Total assets	`Assets`	$1.45B	USD	Point-in-time
Total assets	`Assets`	$1.44B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$68.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$78.18M	USD	Point-in-time
Short-term financing	`ShortTermBorrowings`	$10.17M	USD	Point-in-time
Short-term financing	`ShortTermBorrowings`	$16.13M	USD	Point-in-time
Accrued and other liabilities	`OtherAccruedLiabilitiesCurrent`	$38.47M	USD	Point-in-time
Accrued and other liabilities	`OtherAccruedLiabilitiesCurrent`	$43.62M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$8.54M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$9.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$142.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$130.67M	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$702.07M	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$702.73M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$14.90M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$13.46M	USD	Point-in-time
Other noncurrent accrued and other liabilities	`AccruedAndOtherLiabilitiesNoncurrent`	$522.00K	USD	Point-in-time
Other noncurrent accrued and other liabilities	`AccruedAndOtherLiabilitiesNoncurrent`	$522.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$63.49M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$69.09M	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.10 par value; 150 million shares authorized, 91.2 million shares issued	`CommonStockValue`	$9.12M	USD	Point-in-time
Common stock, $.10 par value; 150 million shares authorized, 91.2 million shares issued	`CommonStockValue`	$9.12M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$497.18M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$497.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$214.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$199.09M	USD	Point-in-time
Stockholders equity including treasury stock	`StockholdersEquityBeforeTreasuryStock`	$721.33M	USD	Point-in-time
Stockholders equity including treasury stock	`StockholdersEquityBeforeTreasuryStock`	$705.39M	USD	Point-in-time
Common stock, 15.0 million shares (14.9 million shares at December 31, 2022)	`TreasuryStockValue`	$189.51M	USD	Point-in-time
Common stock, 15.0 million shares (14.9 million shares at December 31, 2022)	`TreasuryStockValue`	$191.37M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$460.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$529.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$515.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$518.19M	USD	Point-in-time
Total Liabilities and Stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.45B	USD	Point-in-time
Total Liabilities and Stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.44B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$198.98M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$180.96M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$108.25M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$139.36M	USD	1 Quarter
Gross profit	`GrossProfit`	$90.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$41.60M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$9.87M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$10.94M	USD	1 Quarter
Other expense (income), net	`OtherOperatingIncomeExpenseNet`	$-1.20M	USD	1 Quarter
Other expense (income), net	`OtherOperatingIncomeExpenseNet`	$176.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$30.54M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$79.97M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$12.21M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$9.96M	USD	1 Quarter
Non-operating other expense (income), net	`OtherNonoperatingIncomeExpense`	$-135.00K	USD	1 Quarter
Non-operating other expense (income), net	`OtherNonoperatingIncomeExpense`	$3.48M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$69.88M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.80M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.90M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$58.77M	USD	1 Quarter
Net income	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Net income	`EarningsPerShareBasic`	$0.66	USD	1 Quarter
Net income	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Net income	`EarningsPerShareDiluted`	$0.65	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$58.77M	USD	1 Quarter
Net income	`ProfitLoss`	$15.90M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$10.82M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.61M	USD	1 Quarter
Depreciation and amortization of property, plant and equipment	`DepreciationDepletionAndAmortization`	$17.44M	USD	1 Quarter
Depreciation and amortization of property, plant and equipment	`DepreciationDepletionAndAmortization`	$17.20M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$719.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$803.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.22M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-946.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.71M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-15.42M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$10.82M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.25M	USD	1 Quarter
Prepaid insurance	`IncreaseDecreaseInPrepaidInsurance`	$-3.69M	USD	1 Quarter
Prepaid insurance	`IncreaseDecreaseInPrepaidInsurance`	$-5.16M	USD	1 Quarter
Supplies, prepaid items and other	`IncreaseDecreaseInOtherOperatingAssetsSuppliesPrepaidOther`	$4.46M	USD	1 Quarter
Supplies, prepaid items and other	`IncreaseDecreaseInOtherOperatingAssetsSuppliesPrepaidOther`	$6.25M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.86M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.00M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$10.90M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$13.62M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingNotClassifiedElsewhere`	$-1.57M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingNotClassifiedElsewhere`	$-5.06M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$59.25M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.49M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.44M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.25M	USD	1 Quarter
Proceeds from short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$88.71M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$133.66M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$89.31M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-11.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-51.00K	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-63.38M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-97.51M	USD	1 Quarter
Net proceeds from 6.25% senior secured notes	`ProceedsFromSecuredNotesPayable`	$200.00M	USD	1 Quarter
Payments on other long-term debt	`RepaymentsOfOtherLongTermDebt`	$6.91M	USD	1 Quarter
Payments on other long-term debt	`RepaymentsOfOtherLongTermDebt`	$2.18M	USD	1 Quarter
Payments on short-term financing	`RepaymentsOfShortTermDebt`	$5.97M	USD	1 Quarter
Payments on short-term financing	`RepaymentsOfShortTermDebt`	$2.81M	USD	1 Quarter
Payments of debt-related costs, including extinguishment costs	`PaymentsOfDebtRelatedCosts`	$4.10M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.54M	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$184.18M	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.69M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-14.82M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$172.16M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$63.77M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$48.95M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$254.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$82.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$63.77M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$48.95M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$254.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$82.14M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$460.49M	USD	Point-in-time
Balance	`StockholdersEquity`	$529.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$515.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$518.19M	USD	Point-in-time
Net income	`NetIncomeLoss`	$15.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$58.77M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$719.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$803.00K	USD	1 Quarter
Shares withheld restricted stock and restricted stock units vesting	`IssuanceRestrictedStockAndRestrictedStockUnitsVestingValue`	$-2.54M	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$-1.87M	USD	1 Quarter
Balance	`StockholdersEquity`	$460.49M	USD	Point-in-time
Balance	`StockholdersEquity`	$529.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$515.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$518.19M	USD	Point-in-time

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