10-Q Filing

MODINE MANUFACTURING CO CIK: 67347 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001140361-14-030065`
Period End Date	20140630
Filing Date	20140731
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	mod-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 34 Cash Flow Statement 40 Comprehensive Income 20

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.00M	USD	Point-in-time
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`	$87.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.80M	USD	Point-in-time
Trade accounts receivable - net	`AccountsReceivableNetCurrent`	$219.70M	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
Trade accounts receivable - net	`AccountsReceivableNetCurrent`	$221.10M	USD	Point-in-time
Inventories	`InventoryNet`	$127.30M	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`	$116.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$13.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$12.60M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.62	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$85.90M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$60.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$519.50M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	48.60M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	48.30M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$498.80M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$359.60M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$360.60M	USD	Point-in-time
Treasury stock at cost (in shares)	`TreasuryStockShares`	700,000.00	shares	Point-in-time
Treasury stock at cost (in shares)	`TreasuryStockShares`	700,000.00	shares	Point-in-time
Intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$12.40M	USD	Point-in-time
Intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$12.20M	USD	Point-in-time
Goodwill	`Goodwill`	$29.40M	USD	Point-in-time
Goodwill	`Goodwill`	$28.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$96.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$98.60M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$34.20M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$29.40M	USD	Point-in-time
Total assets	`Assets`	$1.05B	USD	Point-in-time
Total assets	`Assets`	$1.03B	USD	Point-in-time
Short-term debt	`ShortTermBankLoansAndNotesPayable`	$30.60M	USD	Point-in-time
Short-term debt	`ShortTermBankLoansAndNotesPayable`	$32.40M	USD	Point-in-time
Long-term debt - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$600.00K	USD	Point-in-time
Long-term debt - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$800.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$171.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$162.90M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$66.10M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$70.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$100.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$82.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$361.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$357.20M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$131.10M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$131.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$7.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$7.30M	USD	Point-in-time
Pensions	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$81.00M	USD	Point-in-time
Pensions	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$78.20M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$22.90M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$27.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$600.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$603.70M	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 48.6 million and 48.3 million shares	`CommonStockValue`	$30.40M	USD	Point-in-time
Common stock, $0.625 par value, authorized 80.0 million shares, issued 48.6 million and 48.3 million shares	`CommonStockValue`	$30.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$177.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$175.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$338.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$351.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-131.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-101.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-128.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-103.90M	USD	Point-in-time
Treasury stock, at cost, 0.7 million and 0.7 million shares	`TreasuryStockValue`	$16.10M	USD	Point-in-time
Treasury stock, at cost, 0.7 million and 0.7 million shares	`TreasuryStockValue`	$15.20M	USD	Point-in-time
Total Modine shareholders' equity	`StockholdersEquity`	$424.80M	USD	Point-in-time
Total Modine shareholders' equity	`StockholdersEquity`	$442.20M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$3.80M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$4.40M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$446.60M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$428.60M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.05B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.03B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$375.80M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$392.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$313.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$324.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$67.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$61.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$42.40M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$42.80M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$500.00K	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$800.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$19.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$24.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00M	USD	1 Quarter
Other expense - net	`OtherNonoperatingIncomeExpense`	$-500.00K	USD	1 Quarter
Other expense - net	`OtherNonoperatingIncomeExpense`	$-200.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.50M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.80M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.90M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.70M	USD	1 Quarter
Net earnings	`ProfitLoss`	$14.10M	USD	1 Quarter
Net earnings	`ProfitLoss`	$10.60M	USD	1 Quarter
Net earnings attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$400.00K	USD	1 Quarter
Net earnings attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$600.00K	USD	1 Quarter
Net earnings attributable to Modine	`NetIncomeLoss`	$10.00M	USD	1 Quarter
Net earnings attributable to Modine	`NetIncomeLoss`	$13.70M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.29	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46.70M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	47.00M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.70M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.30M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$14.10M	USD	1 Quarter
Net earnings	`ProfitLoss`	$10.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.30M	USD	1 Quarter
Other - net	`OtherNoncashIncomeExpense`	$-4.30M	USD	1 Quarter
Other - net	`OtherNoncashIncomeExpense`	$-1.60M	USD	1 Quarter
Net changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$29.20M	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`	$2.50M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.40M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.20M	USD	1 Quarter
Costs to replace building and equipment damaged in Airedale fire	`CostsToReplaceEquipmentDamagedInAiredaleFire`	$1.40M	USD	1 Quarter
Costs to replace building and equipment damaged in Airedale fire	`CostsToReplaceEquipmentDamagedInAiredaleFire`	-	USD	1 Quarter
Other - net	`PaymentsForProceedsFromOtherInvestingActivities`	$200.00K	USD	1 Quarter
Other - net	`PaymentsForProceedsFromOtherInvestingActivities`	$-100.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.00M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.10M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$76.20M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$16.90M	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebtAndCapitalLeaseObligations`	$73.10M	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebtAndCapitalLeaseObligations`	$19.20M	USD	1 Quarter
Dividend paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$500.00K	USD	1 Quarter
Dividend paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	-	USD	1 Quarter
Other - net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.20M	USD	1 Quarter
Other - net	`ProceedsFromPaymentsForOtherFinancingActivities`	$300.00K	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.40M	USD	1 Quarter
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$300.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-100.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.10M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.20M	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.00M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.90M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$87.20M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.80M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$74.00M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.90M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$87.20M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.80M	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$14.10M	USD	1 Quarter
Net earnings	`ProfitLoss`	$10.60M	USD	1 Quarter
Defined benefit plans, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$500.00K	USD	1 Quarter
Defined benefit plans, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	-	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.70M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.30M	USD	1 Quarter
Cash flow hedges, tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax`	-	USD	1 Quarter
Cash flow hedges, tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax`	-	USD	1 Quarter
Defined benefit plans, net of income taxes of $0.5 and $0	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.30M	USD	1 Quarter
Defined benefit plans, net of income taxes of $0.5 and $0	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-900.00K	USD	1 Quarter
Cash flow hedges, net of income taxes of $0	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$100.00K	USD	1 Quarter
Cash flow hedges, net of income taxes of $0	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$2.60M	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-2.90M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$7.70M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$16.70M	USD	1 Quarter
Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$600.00K	USD	1 Quarter
Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$600.00K	USD	1 Quarter
Comprehensive income attributable to Modine	`ComprehensiveIncomeNetOfTax`	$16.10M	USD	1 Quarter
Comprehensive income attributable to Modine	`ComprehensiveIncomeNetOfTax`	$7.10M	USD	1 Quarter

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