10-Q Filing

MODINE MANUFACTURING CO CIK: 67347 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001140361-17-029787`
Period End Date	20170630
Filing Date	20170802
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	mod-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 34 Cash Flow Statement 46 Comprehensive Income 16

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.90M	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
Trade accounts receivable - net	`AccountsReceivableNetCurrent`	$295.20M	USD	Point-in-time
Trade accounts receivable - net	`AccountsReceivableNetCurrent`	$317.80M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	16.00M	shares	Point-in-time
Inventories	`InventoryNet`	$180.20M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	16.00M	shares	Point-in-time
Inventories	`InventoryNet`	$168.50M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$55.40M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$61.40M	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
Total current assets	`AssetsCurrent`	$553.30M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.62	USD	Point-in-time
Total current assets	`AssetsCurrent`	$600.90M	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
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$473.00M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$459.00M	USD	Point-in-time
Intangible assets - net	`FiniteLivedIntangibleAssetsNet`	$134.10M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	51.80M	shares	Point-in-time
Intangible assets - net	`FiniteLivedIntangibleAssetsNet`	$135.00M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	51.90M	shares	Point-in-time
Treasury stock at cost (in shares)	`TreasuryStockShares`	1.80M	shares	Point-in-time
Treasury stock at cost (in shares)	`TreasuryStockShares`	1.70M	shares	Point-in-time
Goodwill	`Goodwill`	$165.10M	USD	Point-in-time
Goodwill	`Goodwill`	$169.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$111.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$108.40M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$29.60M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$30.20M	USD	Point-in-time
Total assets	`Assets`	$1.52B	USD	Point-in-time
Total assets	`Assets`	$1.45B	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$73.40M	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$90.60M	USD	Point-in-time
Long-term debt - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$31.80M	USD	Point-in-time
Long-term debt - current portion	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$34.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$230.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$246.80M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$76.00M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$74.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$45.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$41.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$455.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$488.70M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$405.70M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$406.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.70M	USD	Point-in-time
Pensions	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$119.50M	USD	Point-in-time
Pensions	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$119.40M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$39.90M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$38.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.03B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.06B	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 51.9 million and 51.8 million shares	`CommonStockValue`	$32.40M	USD	Point-in-time
Common stock, $0.625 par value, authorized 80.0 million shares, issued 51.9 million and 51.8 million shares	`CommonStockValue`	$32.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$219.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$216.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$389.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$372.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-164.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-181.80M	USD	Point-in-time
Treasury stock, at cost, 1.8 million and 1.7 million shares	`TreasuryStockValue`	$27.10M	USD	Point-in-time
Treasury stock, at cost, 1.8 million and 1.7 million shares	`TreasuryStockValue`	$25.40M	USD	Point-in-time
Total Modine shareholders' equity	`StockholdersEquity`	$414.00M	USD	Point-in-time
Total Modine shareholders' equity	`StockholdersEquity`	$449.90M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$6.70M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$7.20M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$456.60M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$421.20M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.52B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.45B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$515.50M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$347.20M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$284.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$427.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$88.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$62.30M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$59.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$44.20M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$1.70M	USD	1 Quarter
Restructuring expenses	`RestructuringCharges`	$2.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$27.60M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$15.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00M	USD	1 Quarter
Other expense - net	`OtherNonoperatingIncomeExpense`	$-900.00K	USD	1 Quarter
Other expense - net	`OtherNonoperatingIncomeExpense`	$-900.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.10M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.90M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.70M	USD	1 Quarter
Net earnings	`ProfitLoss`	$17.40M	USD	1 Quarter
Net earnings	`ProfitLoss`	$8.90M	USD	1 Quarter
Net earnings attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$400.00K	USD	1 Quarter
Net earnings attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$300.00K	USD	1 Quarter
Net earnings attributable to Modine	`NetIncomeLoss`	$17.00M	USD	1 Quarter
Net earnings attributable to Modine	`NetIncomeLoss`	$8.60M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.34	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`	$0.34	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46.90M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	49.50M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	50.10M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.20M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$17.40M	USD	1 Quarter
Net earnings	`ProfitLoss`	$8.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.50M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.10M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.40M	USD	1 Quarter
Other - net	`OtherNoncashIncomeExpense`	$-2.20M	USD	1 Quarter
Other - net	`OtherNoncashIncomeExpense`	$-4.50M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.00M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$14.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.50M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.20M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.40M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$11.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.60M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.60M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.50M	USD	1 Quarter
Other - net	`PaymentsForProceedsFromOtherInvestingActivities`	$800.00K	USD	1 Quarter
Other - net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.10M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.40M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.40M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$14.20M	USD	1 Quarter
Borrowings of debt	`ProceedsFromIssuanceOfDebt`	$48.10M	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebtAndCapitalLeaseObligations`	$4.90M	USD	1 Quarter
Repayments of debt	`RepaymentsOfDebtAndCapitalLeaseObligations`	$36.70M	USD	1 Quarter
Dividend paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	-	USD	1 Quarter
Dividend paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$900.00K	USD	1 Quarter
Other - net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.10M	USD	1 Quarter
Other - net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-900.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.20M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.60M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.40M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.20M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.30M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.80M	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$41.50M	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`	$34.20M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$68.90M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$41.50M	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`	$34.20M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$68.90M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$17.40M	USD	1 Quarter
Net earnings	`ProfitLoss`	$8.90M	USD	1 Quarter
Defined benefit plans, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$400.00K	USD	1 Quarter
Defined benefit plans, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$500.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$16.50M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.90M	USD	1 Quarter
Defined benefit plans, net of income taxes of $0.5 and $0.4 million	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-800.00K	USD	1 Quarter
Defined benefit plans, net of income taxes of $0.5 and $0.4 million	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-900.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$17.30M	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`	$34.70M	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`	$34.30M	USD	1 Quarter
Comprehensive income attributable to Modine	`ComprehensiveIncomeNetOfTax`	$4.70M	USD	1 Quarter

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