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10-Q Filing

MSC INDUSTRIAL DIRECT CO INC CIK: 1003078 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001003078-23-000008
Period End Date 20221130
Filing Date 20230105
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance msm-20221203x10q_htm.xml
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance for credit losses AllowanceForDoubtfulAccountsReceivableCurrent $21.72M USD Point-in-time
Accounts receivable, allowance for credit losses AllowanceForDoubtfulAccountsReceivableCurrent $20.77M 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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $43.54M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $26.33M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts receivable, net of allowance for credit losses of $21,719 and $20,771, respectively AccountsReceivableNetCurrent $687.61M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts receivable, net of allowance for credit losses of $21,719 and $20,771, respectively AccountsReceivableNetCurrent $685.83M USD Point-in-time
Inventories InventoryNet $715.62M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Inventories InventoryNet $726.41M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $120.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $96.85M USD Point-in-time
Total current assets AssetsCurrent $1.56B USD Point-in-time
Total current assets AssetsCurrent $1.54B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $286.67M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $297.11M USD Point-in-time
Goodwill Goodwill $709.75M USD Point-in-time
Goodwill Goodwill $710.13M USD Point-in-time
Identifiable intangibles, net IntangibleAssetsNetExcludingGoodwill $110.70M USD Point-in-time
Identifiable intangibles, net IntangibleAssetsNetExcludingGoodwill $114.33M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $64.78M USD Point-in-time
Class A treasury stock, at cost, shares TreasuryStockShares 1.23M shares Point-in-time
Class A treasury stock, at cost, shares TreasuryStockShares 1.27M shares Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $62.80M USD Point-in-time
Other assets OtherAssetsNoncurrent $9.89M USD Point-in-time
Other assets OtherAssetsNoncurrent $10.46M USD Point-in-time
Total assets Assets $2.75B USD Point-in-time
Total assets Assets $2.73B USD Point-in-time
Current portion of debt including obligations under finance leases LongTermDebtAndCapitalLeaseObligationsCurrent $326.24M USD Point-in-time
Current portion of debt including obligations under finance leases LongTermDebtAndCapitalLeaseObligationsCurrent $325.68M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $18.53M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $18.56M USD Point-in-time
Accounts payable AccountsPayableCurrent $212.79M USD Point-in-time
Accounts payable AccountsPayableCurrent $217.38M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $169.20M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $164.33M USD Point-in-time
Total current liabilities LiabilitiesCurrent $726.76M USD Point-in-time
Total current liabilities LiabilitiesCurrent $725.94M USD Point-in-time
Long-term debt including obligations under finance leases LongTermDebtAndCapitalLeaseObligations $453.87M USD Point-in-time
Long-term debt including obligations under finance leases LongTermDebtAndCapitalLeaseObligations $468.91M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $45.69M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $47.62M USD Point-in-time
Deferred income taxes and tax uncertainties DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent $124.66M USD Point-in-time
Deferred income taxes and tax uncertainties DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent $124.66M USD Point-in-time
Total liabilities Liabilities $1.35B USD Point-in-time
Total liabilities Liabilities $1.37B 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 $798.41M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $814.49M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $703.57M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $681.29M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-23.12M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-22.19M USD Point-in-time
Class A treasury stock, at cost, 1,266,439 and 1,228,472 shares, respectively TreasuryStockValue $106.20M USD Point-in-time
Class A treasury stock, at cost, 1,266,439 and 1,228,472 shares, respectively TreasuryStockValue $109.59M USD Point-in-time
Total MSC Industrial shareholders equity StockholdersEquity $1.39B USD Point-in-time
Total MSC Industrial shareholders equity StockholdersEquity $1.35B USD Point-in-time
Noncontrolling interest MinorityInterest $11.85M USD Point-in-time
Noncontrolling interest MinorityInterest $12.08M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.19B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.36B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.75B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.73B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $957.75M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $848.55M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $495.95M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $559.95M USD 1 Quarter
Gross profit GrossProfit $397.80M USD 1 Quarter
Gross profit GrossProfit $352.60M USD 1 Quarter
Operating expenses OperatingExpenses $256.58M USD 1 Quarter
Operating expenses OperatingExpenses $279.69M USD 1 Quarter
Restructuring and other costs RestructuringCosts $2.09M USD 1 Quarter
Restructuring and other costs RestructuringCosts $5.28M USD 1 Quarter
Income from operations OperatingIncomeLoss $116.01M USD 1 Quarter
Income from operations OperatingIncomeLoss $90.73M USD 1 Quarter
Interest expense InterestExpense $3.73M USD 1 Quarter
Interest expense InterestExpense $6.92M USD 1 Quarter
Interest income InvestmentIncomeInterest $100.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $19.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-413.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-1.34M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-8.16M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-4.12M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $107.85M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $86.61M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $20.35M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $26.64M USD 1 Quarter
Net income ProfitLoss $81.21M USD 1 Quarter
Net income ProfitLoss $66.26M USD 1 Quarter
Less: Net (loss) income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $190.00K USD 1 Quarter
Less: Net (loss) income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-102.00K USD 1 Quarter
Net income attributable to MSC Industrial NetIncomeLoss $81.31M USD 1 Quarter
Net income attributable to MSC Industrial NetIncomeLoss $66.07M USD 1 Quarter
Basic EarningsPerShareBasic $1.45 USD 1 Quarter
Basic EarningsPerShareBasic $1.19 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.45 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.18 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 55.53M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 55.89M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 55.86M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 56.08M shares 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $81.21M USD 1 Quarter
Net income ProfitLoss $66.26M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $17.41M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $18.57M USD 1 Quarter
Non-cash operating lease cost OperatingLeaseRightOfUseAssetAmortizationExpense $4.87M USD 1 Quarter
Non-cash operating lease cost OperatingLeaseRightOfUseAssetAmortizationExpense $4.22M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $5.69M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $4.99M USD 1 Quarter
Loss on disposal of property, plant and equipment GainLossOnDispositionOfAssets $-229.00K USD 1 Quarter
Loss on disposal of property, plant and equipment GainLossOnDispositionOfAssets $-104.00K USD 1 Quarter
Provision for credit losses ProvisionForDoubtfulAccounts $2.67M USD 1 Quarter
Provision for credit losses ProvisionForDoubtfulAccounts $1.84M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $21.80M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-56.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $9.52M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $755.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $22.76M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-4.17M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-4.84M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiability $-4.25M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $27.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $508.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-15.05M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $1.06M USD 1 Quarter
Total adjustments AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $-8.45M USD 1 Quarter
Total adjustments AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $-5.19M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $76.02M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $57.80M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $25.50M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $15.26M USD 1 Quarter
Cash used in business acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $87.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-15.26M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-25.59M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $4.56M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $18.54M USD 1 Quarter
Payments of regular cash dividends PaymentsOfOrdinaryDividends $44.21M 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 sale of Class A Common Stock in connection with associate stock purchase plan ProceedsFromStockPlans $1.06M USD 1 Quarter
Proceeds from exercise of Class A Common Stock options ProceedsFromStockOptionsExercised $7.10M USD 1 Quarter
Proceeds from exercise of Class A Common Stock options ProceedsFromStockOptionsExercised $8.34M USD 1 Quarter
Borrowings under credit facilities ProceedsFromLinesOfCredit $26.00M USD 1 Quarter
Borrowings under credit facilities ProceedsFromLinesOfCredit $84.00M USD 1 Quarter
Borrowings under financing obligations ProceedsFromOtherDebt $1.06M USD 1 Quarter
Borrowings under financing obligations ProceedsFromOtherDebt $1.06M USD 1 Quarter
Payments under credit facilities RepaymentsOfLinesOfCredit $99.00M USD 1 Quarter
Payments under credit facilities RepaymentsOfLinesOfCredit $50.00M USD 1 Quarter
Payments on finance lease and financing obligations RepaymentsOfDebtAndCapitalLeaseObligations $418.00K USD 1 Quarter
Payments on finance lease and financing obligations RepaymentsOfDebtAndCapitalLeaseObligations $657.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-67.95M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-19.79M USD 1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-409.00K USD 1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $311.00K USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $22.34M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-17.21M USD 1 Quarter
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $62.88M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $40.54M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $43.54M USD Point-in-time
Cash and cash equivalentsbeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.33M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $62.88M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $40.54M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $43.54M USD Point-in-time
Cash and cash equivalentsend of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.33M USD Point-in-time
Cash paid for income taxes IncomeTaxesPaid $2.77M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaid $1.61M USD 1 Quarter
Cash paid for interest InterestPaidNet $5.44M USD 1 Quarter
Cash paid for interest InterestPaidNet $2.27M USD 1 Quarter
Cash dividends declared, but not yet paid DividendsPayableCurrentAndNoncurrent $41.74M USD Point-in-time
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.19B USD Point-in-time
Balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.36B USD Point-in-time
Foreign Currency Translation Adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-4.99M USD 1 Quarter
Foreign Currency Translation Adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.27M USD 1 Quarter
Net Income (Loss) NetIncomeLoss $81.31M USD 1 Quarter
Net Income (Loss) NetIncomeLoss $66.07M USD 1 Quarter
Balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.19B USD Point-in-time
Balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.40B USD Point-in-time
Balance, Value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.36B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income, as reported ProfitLoss $81.21M USD 1 Quarter
Net income, as reported ProfitLoss $66.26M USD 1 Quarter
Other comprehensive income, taxes OtherComprehensiveIncomeLossTax - USD 1 Quarter
Other comprehensive income, taxes OtherComprehensiveIncomeLossTax - USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-4.99M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.27M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $82.48M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $61.27M USD 1 Quarter
Net loss (income) NetIncomeLossAttributableToNoncontrollingInterest $190.00K USD 1 Quarter
Net loss (income) NetIncomeLossAttributableToNoncontrollingInterest $-102.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $-911.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest $335.00K USD 1 Quarter
Comprehensive income attributable to MSC Industrial ComprehensiveIncomeNetOfTax $61.99M USD 1 Quarter
Comprehensive income attributable to MSC Industrial ComprehensiveIncomeNetOfTax $82.25M USD 1 Quarter

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

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