10-Q Filing

BALCHEM CORP CIK: 9326 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001140361-15-018222`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	bcpc-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 32 Cash Flow Statement 64 Comprehensive Income 12

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$265.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$207.33M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$288.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$208.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.61M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $265 and $288 at March 31, 2015 and December 31, 2014	`AccountsReceivableNetCurrent`	$64.09M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $265 and $288 at March 31, 2015 and December 31, 2014	`AccountsReceivableNetCurrent`	$71.98M	USD	Point-in-time
Inventories	`InventoryNet`	$49.62M	USD	Point-in-time
Inventories	`InventoryNet`	$50.45M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.54M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.37M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$25.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$25.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.39M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.37M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.23M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.48M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$181.30M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$179.13M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.07	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$133.49M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$131.59M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.07	USD	Point-in-time
Goodwill	`Goodwill`	$383.91M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Goodwill	`Goodwill`	$383.91M	USD	Point-in-time
Intangible assets with finite lives, net	`FiniteLivedIntangibleAssetsNet`	$154.13M	USD	Point-in-time
Intangible assets with finite lives, net	`FiniteLivedIntangibleAssetsNet`	$160.39M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	30.85M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.06M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	31.06M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.18M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	30.85M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.34M	USD	Point-in-time
Total assets	`Assets`	$861.53M	USD	Point-in-time
Total assets	`Assets`	$854.84M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$20.04M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$24.35M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$15.61M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$16.55M	USD	Point-in-time
Accrued compensation and other benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.74M	USD	Point-in-time
Accrued compensation and other benefits	`EmployeeRelatedLiabilitiesCurrent`	$9.14M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$9.25M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.17M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.79M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$35.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$35.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$78.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$95.52M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$297.50M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$288.75M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$70.66M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$70.70M	USD	Point-in-time
Other long-term obligations	`OtherLongTermDebtNoncurrent`	$6.05M	USD	Point-in-time
Other long-term obligations	`OtherLongTermDebtNoncurrent`	$5.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$469.63M	USD	Point-in-time
Total liabilities	`Liabilities`	$443.62M	USD	Point-in-time
Commitments and contingencies (note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $25 par value. Authorized 2,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $25 par value. Authorized 2,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.0667 par value. Authorized 60,000,000 shares; 31,056,901 shares issued and outstanding at March 31, 2015 and 30,845,586 shares issued and outstanding at December 31, 2014	`CommonStockValue`	$2.06M	USD	Point-in-time
Common stock, $.0667 par value. Authorized 60,000,000 shares; 31,056,901 shares issued and outstanding at March 31, 2015 and 30,845,586 shares issued and outstanding at December 31, 2014	`CommonStockValue`	$2.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$104.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$97.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$310.37M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$295.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.65M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$391.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$411.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$861.53M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$854.84M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$86.00M	USD	1 Quarter
Net sales	`Revenues`	$144.86M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$101.73M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$62.78M	USD	1 Quarter
Gross margin	`GrossProfit`	$23.21M	USD	1 Quarter
Gross margin	`GrossProfit`	$43.13M	USD	1 Quarter
Selling expenses	`SellingExpense`	$4.19M	USD	1 Quarter
Selling expenses	`SellingExpense`	$11.79M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$773.00K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$1.45M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.90M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.86M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$9.86M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$18.09M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$13.36M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$25.04M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$46.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.88M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-74.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-28.00K	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.37M	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$23.09M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$7.91M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.48M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.89M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.17M	USD	1 Quarter
Net earnings per common share - basic (in dollars per share)	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Net earnings per common share - basic (in dollars per share)	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Net earnings per common share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Net earnings per common share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.48	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$8.89M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.03M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.17M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$988.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$55.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-16.00K	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-36.00K	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-34.00K	USD	1 Quarter
Loss on disposal of assets	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on disposal of assets	`AssetImpairmentCharges`	$85.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.12M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.39M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$50.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.29M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-526.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.32M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$400.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.01M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-168.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.12M	USD	1 Quarter
Customer deposits and other deferred revenue	`IncreaseDecreaseInCustomerDeposits`	$11.00K	USD	1 Quarter
Customer deposits and other deferred revenue	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$125.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$24.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$10.24M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$26.60M	USD	1 Quarter
Deposit held in escrow	`IncreaseDecreaseInRestrictedCash`	$5.50M	USD	1 Quarter
Deposit held in escrow	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.14M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.37M	USD	1 Quarter
Intangible assets acquired	`PaymentsToAcquireIntangibleAssets`	$27.00K	USD	1 Quarter
Intangible assets acquired	`PaymentsToAcquireIntangibleAssets`	$387.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.75M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.67M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$8.75M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Repayments of short-term obligations	`RepaymentsOfShortTermDebt`	$89.00K	USD	1 Quarter
Repayments of short-term obligations	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$3.17M	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$1.33M	USD	1 Quarter
Excess tax benefits from stock compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.69M	USD	1 Quarter
Excess tax benefits from stock compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.49M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$9.25M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$7.86M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$33.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-12.34M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.96M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-30.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.18M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.42M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.33M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$207.33M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$208.75M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.29M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.61M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$207.33M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$208.75M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.29M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.61M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$8.89M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.17M	USD	1 Quarter
Net change in postretirement benefit plan, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$2.00K	USD	1 Quarter
Net change in postretirement benefit plan, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$1.00K	USD	1 Quarter
Net foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.68M	USD	1 Quarter
Net foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-18.00K	USD	1 Quarter
Net change in postretirement benefit plan, net of taxes of $2 and $1 for the three months ended March 31, 2015 and 2014	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$-2.00K	USD	1 Quarter
Net change in postretirement benefit plan, net of taxes of $2 and $1 for the three months ended March 31, 2015 and 2014	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$-3.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-20.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-2.68M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.87M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.49M	USD	1 Quarter

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