10-Q Filing

MSC INDUSTRIAL DIRECT CO INC CIK: 1003078 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001003078-20-000038`
Period End Date	20191130
Filing Date	20200108
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	msm-20191130x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 35 Cash Flow Statement 62 Stockholders Equity 10 Comprehensive Income 12

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.88M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.09M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.62M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.78M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $17,879 and $17,088, respectively	`AccountsReceivableNetCurrent`	$536.88M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $17,879 and $17,088, respectively	`AccountsReceivableNetCurrent`	$541.09M	USD	Point-in-time
Inventories	`InventoryNet`	$559.14M	USD	Point-in-time
Inventories	`InventoryNet`	$539.43M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$67.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$66.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.17B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.20B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$310.85M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$312.32M	USD	Point-in-time
Goodwill	`Goodwill`	$677.27M	USD	Point-in-time
Goodwill	`Goodwill`	$677.33M	USD	Point-in-time
Identifiable intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$113.74M	USD	Point-in-time
Identifiable intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$116.67M	USD	Point-in-time
Class A treasury stock, at cost, shares	`TreasuryStockShares`	1.27M	shares	Point-in-time
Class A treasury stock, at cost, shares	`TreasuryStockShares`	1.25M	shares	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$59.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.18M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.84M	USD	Point-in-time
Total assets	`Assets`	$2.31B	USD	Point-in-time
Total assets	`Assets`	$2.34B	USD	Point-in-time
Current portion of long-term debt including obligations under finance leases	`DebtCurrent`	$138.88M	USD	Point-in-time
Current portion of long-term debt including obligations under finance leases	`DebtCurrent`	$175.45M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$21.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$142.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$160.11M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$111.35M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$101.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$403.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$446.92M	USD	Point-in-time
Long-term debt including obligations under finance leases	`LongTermDebtAndCapitalLeaseObligations`	$267.58M	USD	Point-in-time
Long-term debt including obligations under finance leases	`LongTermDebtAndCapitalLeaseObligations`	$266.43M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$37.98M	USD	Point-in-time
Deferred income taxes and tax uncertainties	`DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent`	$114.01M	USD	Point-in-time
Deferred income taxes and tax uncertainties	`DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent`	$114.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$823.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$827.36M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$668.67M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$659.23M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$970.14M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$946.65M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-22.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-21.31M	USD	Point-in-time
Class A treasury stock, at cost, 1,274,580 and 1,248,944 shares, respectively	`TreasuryStockValue`	$104.61M	USD	Point-in-time
Class A treasury stock, at cost, 1,274,580 and 1,248,944 shares, respectively	`TreasuryStockValue`	$106.69M	USD	Point-in-time
Total MSC Industrial shareholders equity	`StockholdersEquity`	$1.48B	USD	Point-in-time
Total MSC Industrial shareholders equity	`StockholdersEquity`	$1.51B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$5.33M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$5.50M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.52B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.38B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.31B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.34B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$823.60M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$831.60M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$473.61M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$476.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$347.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$357.99M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$256.90M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$254.99M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$90.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$103.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.17M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.06M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$162.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$121.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-3.89M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-3.04M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$99.11M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$87.26M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$21.81M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$24.88M	USD	1 Quarter
Net income	`ProfitLoss`	$65.45M	USD	1 Quarter
Net income	`ProfitLoss`	$74.23M	USD	1 Quarter
Less: Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$34.00K	USD	1 Quarter
Net income attributable to MSC Industrial	`NetIncomeLoss`	$74.23M	USD	1 Quarter
Net income attributable to MSC Industrial	`NetIncomeLoss`	$65.42M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.34	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.33	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.18	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	55.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	55.27M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.44M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.83M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$65.45M	USD	1 Quarter
Net income	`ProfitLoss`	$74.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$17.02M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$15.85M	USD	1 Quarter
Non-cash operating lease cost	`OperatingLeaseCostOperatingActivities`	$5.54M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.16M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.17M	USD	1 Quarter
Loss on disposal of property, plant, and equipment	`GainLossOnDispositionOfAssets`	$-140.00K	USD	1 Quarter
Loss on disposal of property, plant, and equipment	`GainLossOnDispositionOfAssets`	$-141.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.53M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.81M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.63M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.56M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-20.63M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$9.80M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.04M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$182.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-5.42M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-753.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-669.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.38M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-27.99M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.63M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$19.66M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$76.87M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.11M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.05M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.69M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.05M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.69M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$63.53M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.01M	USD	1 Quarter
Payments of cash dividends	`PaymentsOfOrdinaryDividends`	$41.54M	USD	1 Quarter
Payments of cash dividends	`PaymentsOfOrdinaryDividends`	$34.86M	USD	1 Quarter
Proceeds from sale of Class A common stock in connection with associate stock purchase plan	`ProceedsFromStockPlans`	$954.00K	USD	1 Quarter
Proceeds from sale of Class A common stock in connection with associate stock purchase plan	`ProceedsFromStockPlans`	$1.03M	USD	1 Quarter
Proceeds from exercise of Class A common stock options	`ProceedsFromStockOptionsExercised`	$4.53M	USD	1 Quarter
Proceeds from exercise of Class A common stock options	`ProceedsFromStockOptionsExercised`	$9.33M	USD	1 Quarter
Borrowings under the revolving credit facilities	`ProceedsFromLinesOfCredit`	$245.00M	USD	1 Quarter
Borrowings under the revolving credit facilities	`ProceedsFromLinesOfCredit`	$69.00M	USD	1 Quarter
Payments under the revolving credit facilities	`RepaymentsOfShortTermDebt`	$259.00M	USD	1 Quarter
Payments under the revolving credit facilities	`RepaymentsOfShortTermDebt`	$107.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-180.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$753.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-101.35M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-77.16M	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-66.00K	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$230.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.51M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-34.60M	USD	1 Quarter
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.62M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.29M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$46.22M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.78M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$11.62M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$32.29M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$46.22M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$27.78M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$1.79M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$1.76M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$895.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$1.69M	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance, Value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.52B	USD	Point-in-time
Balance, Value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time
Balance, Value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.38B	USD	Point-in-time
Net Income	`NetIncomeLoss`	$74.23M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$65.42M	USD	1 Quarter
Foreign Currency Translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.61M	USD	1 Quarter
Foreign Currency Translation Adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.34M	USD	1 Quarter
Balance, Value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.52B	USD	Point-in-time
Balance, Value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time
Balance, Value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.38B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income, as reported	`ProfitLoss`	$65.45M	USD	1 Quarter
Other comprehensive income, taxes	`OtherComprehensiveIncomeLossTax`	-	USD	1 Quarter
Net income, as reported	`ProfitLoss`	$74.23M	USD	1 Quarter
Other comprehensive income, taxes	`OtherComprehensiveIncomeLossTax`	-	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.61M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.34M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$72.89M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$67.06M	USD	1 Quarter
Net income	`NetIncomeLossAttributableToNoncontrollingInterest`	$34.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest`	$140.00K	USD	1 Quarter
Comprehensive income attributable to MSC Industrial	`ComprehensiveIncomeNetOfTax`	$72.89M	USD	1 Quarter
Comprehensive income attributable to MSC Industrial	`ComprehensiveIncomeNetOfTax`	$66.88M	USD	1 Quarter

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