10-Q Filing

MODINE MANUFACTURING CO CIK: 67347 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001140361-13-029898`
Period End Date	20130630
Filing Date	20130801
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	mod-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 42 Cash Flow Statement 38 Comprehensive Income 16

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.90M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.03	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.03	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.20M	USD	Point-in-time
Trade accounts receivable - net	`AccountsReceivableNetCurrent`	$194.50M	USD	Point-in-time
Trade accounts receivable - net	`AccountsReceivableNetCurrent`	$206.10M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	16.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	16.00M	shares	Point-in-time
Inventories	`InventoryNet`	$118.80M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$116.90M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$61.90M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.62	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$58.20M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.62	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$399.00M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$412.10M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	48.10M	shares	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$355.90M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	47.80M	shares	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$349.30M	USD	Point-in-time
Investment in affiliate	`EquityMethodInvestments`	$3.30M	USD	Point-in-time
Investment in affiliate	`EquityMethodInvestments`	$3.30M	USD	Point-in-time
Treasury stock at cost (in shares)	`TreasuryStockShares`	600,000.00	shares	Point-in-time
Treasury stock at cost (in shares)	`TreasuryStockShares`	700,000.00	shares	Point-in-time
Intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$8.30M	USD	Point-in-time
Intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$8.10M	USD	Point-in-time
Goodwill	`Goodwill`	$27.60M	USD	Point-in-time
Goodwill	`Goodwill`	$28.70M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$22.70M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$23.60M	USD	Point-in-time
Total assets	`Assets`	$818.80M	USD	Point-in-time
Total assets	`Assets`	$823.10M	USD	Point-in-time
Short-term debt	`ShortTermBankLoansAndNotesPayable`	$30.60M	USD	Point-in-time
Short-term debt	`ShortTermBankLoansAndNotesPayable`	$33.20M	USD	Point-in-time
Long-term debt - current portion	`LongTermDebtCurrent`	$500.00K	USD	Point-in-time
Long-term debt - current portion	`LongTermDebtCurrent`	$1.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$145.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$150.70M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$53.20M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$51.20M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$47.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$47.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$279.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$280.10M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$132.40M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$132.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$8.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$8.20M	USD	Point-in-time
Pensions	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$106.00M	USD	Point-in-time
Pensions	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$108.00M	USD	Point-in-time
Postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$6.70M	USD	Point-in-time
Postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$6.70M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$14.10M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$14.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$547.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$550.50M	USD	Point-in-time
Commitments and contingencies (see Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.025 par value, authorized 16.0 million shares, issued - none	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.025 par value, authorized 16.0 million shares, issued - none	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.625 par value, authorized 80.0 million shares, issued 48.1 million and 47.8 million shares	`CommonStockValue`	$29.90M	USD	Point-in-time
Common stock, $0.625 par value, authorized 80.0 million shares, issued 48.1 million and 47.8 million shares	`CommonStockValue`	$30.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$171.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$172.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$217.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$207.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-131.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-128.40M	USD	Point-in-time
Treasury stock, at cost, 0.7 million and 0.6 million shares	`TreasuryStockValue`	$14.60M	USD	Point-in-time
Treasury stock, at cost, 0.7 million and 0.6 million shares	`TreasuryStockValue`	$15.10M	USD	Point-in-time
Total Modine shareholders' equity	`StockholdersEquity`	$265.70M	USD	Point-in-time
Total Modine shareholders' equity	`StockholdersEquity`	$273.30M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$2.60M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$2.70M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$268.30M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$276.00M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$818.80M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$823.10M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$350.40M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$375.80M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$298.70M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$313.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$51.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$61.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$43.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$42.40M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$4.60M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$500.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.90M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$19.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00M	USD	1 Quarter
Other (expense) income - net	`OtherNonoperatingIncomeExpense`	$100.00K	USD	1 Quarter
Other (expense) income - net	`OtherNonoperatingIncomeExpense`	$-500.00K	USD	1 Quarter
Earnings from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.00M	USD	1 Quarter
Earnings from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.50M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.90M	USD	1 Quarter
Earnings (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$10.60M	USD	1 Quarter
Earnings (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.00M	USD	1 Quarter
Earnings from discontinued operations, net of income taxes	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Earnings from discontinued operations, net of income taxes	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$100.00K	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$10.60M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$-900.00K	USD	1 Quarter
Net earnings attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$600.00K	USD	1 Quarter
Net earnings attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$300.00K	USD	1 Quarter
Net earnings (loss) attributable to Modine	`NetIncomeLoss`	$10.00M	USD	1 Quarter
Net earnings (loss) attributable to Modine	`NetIncomeLoss`	$-1.20M	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.21	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.03	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.03	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.21	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46.50M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46.70M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	46.50M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.30M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net earnings (loss)	`ProfitLoss`	$10.60M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$-900.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.10M	USD	1 Quarter
Other - net	`OtherNoncashIncomeExpense`	$-1.60M	USD	1 Quarter
Other - net	`OtherNoncashIncomeExpense`	$-4.10M	USD	1 Quarter
Net changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$12.50M	USD	1 Quarter
Net changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$12.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.80M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.20M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.70M	USD	1 Quarter
Other - net	`PaymentsForProceedsFromOtherInvestingActivities`	$600.00K	USD	1 Quarter
Other - net	`PaymentsForProceedsFromOtherInvestingActivities`	$-100.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.10M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.30M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$58.50M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$76.20M	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebtAndCapitalLeaseObligations`	$38.20M	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebtAndCapitalLeaseObligations`	$73.10M	USD	1 Quarter
Dividend paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	-	USD	1 Quarter
Dividend paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$500.00K	USD	1 Quarter
Other - net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.20M	USD	1 Quarter
Other - net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-200.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.40M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.10M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-800.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-100.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.80M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.10M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.90M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.40M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$43.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$43.20M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net earnings (loss)	`ProfitLoss`	$10.60M	USD	1 Quarter
Net earnings (loss)	`ProfitLoss`	$-900.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.30M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-19.00M	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.30M	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.00M	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$800.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$100.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-2.90M	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-17.20M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$7.70M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-18.10M	USD	1 Quarter
Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$600.00K	USD	1 Quarter
Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$300.00K	USD	1 Quarter
Comprehensive income (loss) attributable to Modine	`ComprehensiveIncomeNetOfTax`	$7.10M	USD	1 Quarter
Comprehensive income (loss) attributable to Modine	`ComprehensiveIncomeNetOfTax`	$-18.40M	USD	1 Quarter

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