10-Q Filing

BALCHEM CORP CIK: 9326 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001140361-16-064256`
Period End Date	20160331
Filing Date	20160510
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	bcpc-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 90 Income Statement 32 Cash Flow Statement 62 Comprehensive Income 12

Balance Sheet 90 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.80M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$235.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.61M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$285.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $285 and $235 at March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$69.36M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $285 and $235 at March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$60.48M	USD	Point-in-time
Inventories	`InventoryNet`	$60.44M	USD	Point-in-time
Inventories	`InventoryNet`	$46.09M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.21M	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
Prepaid expenses	`PrepaidExpenseCurrent`	$2.98M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$1.37M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$819.00K	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
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$810.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.91M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$198.29M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.07	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.07	USD	Point-in-time
Total current assets	`AssetsCurrent`	$177.46M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$173.07M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$158.51M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.58M	shares	Point-in-time
Goodwill	`Goodwill`	$441.67M	USD	Point-in-time
Goodwill	`Goodwill`	$383.91M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.53M	shares	Point-in-time
Intangible assets with finite lives, net	`FiniteLivedIntangibleAssetsNet`	$134.91M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	31.58M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	31.53M	shares	Point-in-time
Intangible assets with finite lives, net	`FiniteLivedIntangibleAssetsNet`	$173.77M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.06M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.26M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	0.00	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	1,089.00	shares	Point-in-time
Total assets	`Assets`	$970.23M	USD	Point-in-time
Total assets	`Assets`	$879.69M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$14.71M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$23.31M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$15.52M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$12.83M	USD	Point-in-time
Accrued compensation and other benefits	`EmployeeRelatedLiabilitiesCurrent`	$5.13M	USD	Point-in-time
Accrued compensation and other benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.78M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$10.73M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.73M	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`	$81.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$78.62M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$260.96M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$252.35M	USD	Point-in-time
Revolving loan - long-term	`LongTermLineOfCredit`	-	USD	Point-in-time
Revolving loan - long-term	`LongTermLineOfCredit`	$65.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$67.22M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$87.07M	USD	Point-in-time
Other long-term obligations	`OtherLongTermDebtNoncurrent`	$6.94M	USD	Point-in-time
Other long-term obligations	`OtherLongTermDebtNoncurrent`	$6.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$415.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$489.98M	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 120,000,000 shares; 31,575,778 shares issued and outstanding at March 31, 2016 and 31,528,449 shares issued and 31,527,360 shares outstanding at December 31, 2015	`CommonStockValue`	$2.10M	USD	Point-in-time
Common stock, $.0667 par value. Authorized 120,000,000 shares; 31,575,778 shares issued and outstanding at March 31, 2016 and 31,528,449 shares issued and 31,527,360 shares outstanding at December 31, 2015	`CommonStockValue`	$2.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$122.59M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$125.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$356.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$344.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.86M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.11M	USD	Point-in-time
Treasury stock, at cost: 0 and 1,089 shares at March 31, 2016 and December 31, 2015, respectively	`TreasuryStockValue`	$74.00K	USD	Point-in-time
Treasury stock, at cost: 0 and 1,089 shares at March 31, 2016 and December 31, 2015, respectively	`TreasuryStockValue`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$480.25M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$463.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$970.23M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$879.69M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$135.14M	USD	1 Quarter
Net sales	`Revenues`	$144.86M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$101.73M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$92.32M	USD	1 Quarter
Gross margin	`GrossProfit`	$42.82M	USD	1 Quarter
Gross margin	`GrossProfit`	$43.13M	USD	1 Quarter
Selling expenses	`SellingExpense`	$11.79M	USD	1 Quarter
Selling expenses	`SellingExpense`	$13.09M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$1.94M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$1.45M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.86M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$7.83M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$22.86M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.09M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$19.97M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$25.04M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.84M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.88M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-147.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-74.00K	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$23.09M	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.98M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$7.91M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.09M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.17M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$11.89M	USD	1 Quarter
Net earnings per common share - basic (in dollars per share)	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Net earnings per common share - basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Net earnings per common share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.37	USD	1 Quarter
Net earnings per common share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.48	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$15.17M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$11.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.02M	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`	$2.20M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-16.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$49.00K	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-34.00K	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-50.00K	USD	1 Quarter
Loss on disposal of assets	`AssetImpairmentCharges`	$89.00K	USD	1 Quarter
Loss on disposal of assets	`AssetImpairmentCharges`	$85.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.05M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.12M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.29M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.26M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-386.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.32M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.07M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-168.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-3.44M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$125.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-180.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$26.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$29.32M	USD	1 Quarter
Cash paid for acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash paid for acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$110.60M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.37M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.66M	USD	1 Quarter
Intangible assets acquired	`PaymentsToAcquireIntangibleAssets`	$153.00K	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`	$-121.41M	USD	1 Quarter
Proceeds from revolving loan	`PaymentsForProceedsFromLoansReceivable`	$-65.00M	USD	1 Quarter
Proceeds from revolving loan	`PaymentsForProceedsFromLoansReceivable`	-	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$8.75M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$9.63M	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$3.17M	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$1.34M	USD	1 Quarter
Excess tax benefits from stock compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$483.00K	USD	1 Quarter
Excess tax benefits from stock compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.49M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$10.73M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$9.25M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$615.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$45.85M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-12.34M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.18M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$616.00K	USD	1 Quarter
(Decrease) Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.33M	USD	1 Quarter
(Decrease) Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-45.62M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.17M	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`	$84.80M	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`	$39.17M	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`	$84.80M	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`	$15.17M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$11.89M	USD	1 Quarter
Net change in postretirement benefit plan, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$1.00K	USD	1 Quarter
Net change in postretirement benefit plan, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$2.00K	USD	1 Quarter
Net foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.68M	USD	1 Quarter
Net foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.25M	USD	1 Quarter
Net change in postretirement benefit plan, net of taxes of $1 and $2 for the three months ended March 31, 2016 and 2015.	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$-4.00K	USD	1 Quarter
Net change in postretirement benefit plan, net of taxes of $1 and $2 for the three months ended March 31, 2016 and 2015.	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$-3.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.25M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-2.68M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$13.14M	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.