10-Q Filing

MODINE MANUFACTURING CO CIK: 67347 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001140361-16-074541`
Period End Date	20160630
Filing Date	20160803
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	mod-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 34 Cash Flow Statement 50 Comprehensive Income 16

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$70.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$60.70M	USD	Point-in-time
Trade accounts receivable - net	`AccountsReceivableNetCurrent`	$195.70M	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
Trade accounts receivable - net	`AccountsReceivableNetCurrent`	$189.10M	USD	Point-in-time
Inventories	`InventoryNet`	$116.20M	USD	Point-in-time
Inventories	`InventoryNet`	$111.00M	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
Other current assets	`OtherAssetsCurrent`	$41.40M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$43.50M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.62	USD	Point-in-time
Total current assets	`AssetsCurrent`	$412.50M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.62	USD	Point-in-time
Total current assets	`AssetsCurrent`	$417.40M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$338.60M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$338.80M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	49.40M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	49.00M	shares	Point-in-time
Intangible assets - net	`FiniteLivedIntangibleAssetsNet`	$7.50M	USD	Point-in-time
Intangible assets - net	`FiniteLivedIntangibleAssetsNet`	$8.20M	USD	Point-in-time
Goodwill	`Goodwill`	$14.90M	USD	Point-in-time
Treasury stock at cost (in shares)	`TreasuryStockShares`	1.70M	shares	Point-in-time
Goodwill	`Goodwill`	$15.80M	USD	Point-in-time
Treasury stock at cost (in shares)	`TreasuryStockShares`	1.60M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$123.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$123.10M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$23.10M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$22.70M	USD	Point-in-time
Total assets	`Assets`	$920.90M	USD	Point-in-time
Total assets	`Assets`	$925.40M	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$28.60M	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$37.50M	USD	Point-in-time
Long-term debt - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$8.50M	USD	Point-in-time
Long-term debt - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$12.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$139.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$142.40M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$54.70M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$58.60M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$35.50M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$36.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$273.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$280.30M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$121.30M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$125.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.20M	USD	Point-in-time
Pensions	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$118.60M	USD	Point-in-time
Pensions	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$115.90M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$16.30M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$16.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$537.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$538.20M	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 49.4 million and 49.0 million shares	`CommonStockValue`	$30.60M	USD	Point-in-time
Common stock, $0.625 par value, authorized 80.0 million shares, issued 49.4 million and 49.0 million shares	`CommonStockValue`	$30.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$186.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$185.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$358.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$366.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-178.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-174.20M	USD	Point-in-time
Treasury stock, at cost, 1.7 million and 1.6 million shares	`TreasuryStockValue`	$24.00M	USD	Point-in-time
Treasury stock, at cost, 1.7 million and 1.6 million shares	`TreasuryStockValue`	$25.20M	USD	Point-in-time
Total Modine shareholders' equity	`StockholdersEquity`	$381.10M	USD	Point-in-time
Total Modine shareholders' equity	`StockholdersEquity`	$376.20M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$6.70M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$6.50M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$382.70M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$387.80M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$920.90M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$925.40M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$347.20M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$346.10M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$285.20M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$289.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$62.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$57.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$42.80M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$44.60M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$2.30M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$2.60M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$15.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$11.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00M	USD	1 Quarter
Other expense - net	`OtherNonoperatingIncomeExpense`	$-200.00K	USD	1 Quarter
Other expense - net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.90M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.80M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.30M	USD	1 Quarter
Net earnings	`ProfitLoss`	$5.50M	USD	1 Quarter
Net earnings	`ProfitLoss`	$8.90M	USD	1 Quarter
Net earnings attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$300.00K	USD	1 Quarter
Net earnings attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$400.00K	USD	1 Quarter
Net earnings attributable to Modine	`NetIncomeLoss`	$5.10M	USD	1 Quarter
Net earnings attributable to Modine	`NetIncomeLoss`	$8.60M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	47.30M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46.90M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.20M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.80M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$5.50M	USD	1 Quarter
Net earnings	`ProfitLoss`	$8.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.50M	USD	1 Quarter
Insurance proceeds from Airedale fire	`ProceedsFromInsuranceSettlementOperatingActivities`	$700.00K	USD	1 Quarter
Insurance proceeds from Airedale fire	`ProceedsFromInsuranceSettlementOperatingActivities`	-	USD	1 Quarter
Other - net	`OtherNoncashIncomeExpense`	$-3.40M	USD	1 Quarter
Other - net	`OtherNoncashIncomeExpense`	$-800.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.00M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.50M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.40M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.70M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherAssetsAndLiabilities`	$7.20M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherAssetsAndLiabilities`	$4.40M	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.60M	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-100.00K	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.00M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.50M	USD	1 Quarter
Insurance proceeds from Airedale fire	`ProceedsFromInsuranceSettlementInvestingActivities`	$3.00M	USD	1 Quarter
Insurance proceeds from Airedale fire	`ProceedsFromInsuranceSettlementInvestingActivities`	$14.60M	USD	1 Quarter
Costs to replace building and equipment damaged in Airedale fire	`CostsToReplaceEquipmentDamagedInAiredaleFire`	$11.00M	USD	1 Quarter
Costs to replace building and equipment damaged in Airedale fire	`CostsToReplaceEquipmentDamagedInAiredaleFire`	$1.00M	USD	1 Quarter
Other - net	`PaymentsForProceedsFromOtherInvestingActivities`	$100.00K	USD	1 Quarter
Other - net	`PaymentsForProceedsFromOtherInvestingActivities`	$900.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-13.40M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-12.50M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$14.20M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$12.10M	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebtAndCapitalLeaseObligations`	$4.90M	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebtAndCapitalLeaseObligations`	$9.40M	USD	1 Quarter
Dividend paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$900.00K	USD	1 Quarter
Dividend paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	-	USD	1 Quarter
Other - net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-600.00K	USD	1 Quarter
Other - net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.10M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$8.20M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.20M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.20M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.60M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.80M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.80M	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$68.90M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.10M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$70.50M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.70M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$68.90M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.10M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$70.50M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.70M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$5.50M	USD	1 Quarter
Net earnings	`ProfitLoss`	$8.90M	USD	1 Quarter
Defined benefit plans, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$600.00K	USD	1 Quarter
Defined benefit plans, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$400.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.90M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$8.70M	USD	1 Quarter
Defined benefit plans, net of income taxes of $0.4 and $0.6 million	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.20M	USD	1 Quarter
Defined benefit plans, net of income taxes of $0.4 and $0.6 million	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-900.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$9.90M	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-4.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$4.90M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$15.40M	USD	1 Quarter
Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$400.00K	USD	1 Quarter
Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$200.00K	USD	1 Quarter
Comprehensive income attributable to Modine	`ComprehensiveIncomeNetOfTax`	$4.70M	USD	1 Quarter
Comprehensive income attributable to Modine	`ComprehensiveIncomeNetOfTax`	$15.00M	USD	1 Quarter

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