10-Q Filing

BALCHEM CORP CIK: 9326 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001140361-18-021741`
Period End Date	20180331
Filing Date	20180504
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	bcpc-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 32 Cash Flow Statement 68 Comprehensive Income 12

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.42M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$431.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.64M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$362.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $362 and $431 at March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$91.23M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $362 and $431 at March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$96.00M	USD	Point-in-time
Inventories	`InventoryNet`	$60.70M	USD	Point-in-time
Inventories	`InventoryNet`	$66.27M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$25.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.96M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$25.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.77M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	-	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$677.00K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.22M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.22M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	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`	$199.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$211.81M	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
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$189.79M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$187.94M	USD	Point-in-time
Goodwill	`Goodwill`	$441.36M	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
Goodwill	`Goodwill`	$441.36M	USD	Point-in-time
Intangible assets with finite lives, net	`FiniteLivedIntangibleAssetsNet`	$121.94M	USD	Point-in-time
Intangible assets with finite lives, net	`FiniteLivedIntangibleAssetsNet`	$128.07M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	32.10M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	32.02M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.94M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	32.10M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.07M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	32.02M	shares	Point-in-time
Total assets	`Assets`	$963.64M	USD	Point-in-time
Total assets	`Assets`	$967.99M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$28.45M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$26.67M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$23.39M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$22.93M	USD	Point-in-time
Accrued compensation and other benefits	`EmployeeRelatedLiabilitiesCurrent`	$8.53M	USD	Point-in-time
Accrued compensation and other benefits	`EmployeeRelatedLiabilitiesCurrent`	$7.88M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	-	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$38.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$45.00K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$13.48M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$5.09M	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`	$98.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$108.40M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$183.96M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$175.32M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$48.53M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$48.55M	USD	Point-in-time
Other long-term obligations	`OtherLongTermDebtNoncurrent`	$5.85M	USD	Point-in-time
Other long-term obligations	`OtherLongTermDebtNoncurrent`	$6.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$346.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$328.10M	USD	Point-in-time
Commitments and contingencies (note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 16)	`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; 32,100,110 shares issued and outstanding at March 31, 2018 and 32,019,605 shares issued and outstanding at December 31, 2017	`CommonStockValue`	$2.13M	USD	Point-in-time
Common stock, $.0667 par value. Authorized 120,000,000 shares; 32,100,110 shares issued and outstanding at March 31, 2018 and 32,019,605 shares issued and outstanding at December 31, 2017	`CommonStockValue`	$2.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$151.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$154.03M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$464.64M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$483.99M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-266.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.64M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$616.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$639.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$967.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$963.64M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$161.41M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$137.73M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$109.95M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$93.30M	USD	1 Quarter
Gross margin	`GrossProfit`	$51.46M	USD	1 Quarter
Gross margin	`GrossProfit`	$44.43M	USD	1 Quarter
Selling expenses	`SellingExpense`	$14.06M	USD	1 Quarter
Selling expenses	`SellingExpense`	$13.71M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$2.57M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$1.81M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.20M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$7.42M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$21.73M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.05M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$22.70M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$27.41M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.88M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-196.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-361.00K	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$25.18M	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.71M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.19M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.83M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$19.35M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.52M	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`	$0.60	USD	1 Quarter
Net earnings per common share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.60	USD	1 Quarter
Net earnings per common share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.48	USD	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$19.35M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.13M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.34M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.79M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.84M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-38.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$79.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-69.00K	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-101.00K	USD	1 Quarter
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-51.00K	USD	1 Quarter
Asset impairment charge	`AssetImpairmentCharges`	-	USD	1 Quarter
Asset impairment charge	`AssetImpairmentCharges`	$71.00K	USD	1 Quarter
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$75.00K	USD	1 Quarter
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$1.09M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.34M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.44M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.57M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-345.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-9.07M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.27M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.25M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.63M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$368.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-724.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.48M	USD	1 Quarter
Cash paid for acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash paid for acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.17M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.73M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.93M	USD	1 Quarter
Proceeds from insurance	`ProceedsFromInsuranceSettlementInvestingActivities`	$1.59M	USD	1 Quarter
Proceeds from insurance	`ProceedsFromInsuranceSettlementInvestingActivities`	-	USD	1 Quarter
Intangible assets acquired	`PaymentsToAcquireIntangibleAssets`	$119.00K	USD	1 Quarter
Intangible assets acquired	`PaymentsToAcquireIntangibleAssets`	$147.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.26M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.25M	USD	1 Quarter
Proceeds from revolving loan	`PaymentsForProceedsFromLoansReceivable`	-	USD	1 Quarter
Proceeds from revolving loan	`PaymentsForProceedsFromLoansReceivable`	$-2.00M	USD	1 Quarter
Principal payments on revolving loan	`RepaymentsOfLongTermLinesOfCredit`	$5.00M	USD	1 Quarter
Principal payments on revolving loan	`RepaymentsOfLongTermLinesOfCredit`	-	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$8.75M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$8.75M	USD	1 Quarter
Principal payment on acquired debt	`RepaymentsOfBankDebt`	-	USD	1 Quarter
Principal payment on acquired debt	`RepaymentsOfBankDebt`	-	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$1.26M	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$3.97M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$12.07M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$13.42M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$611.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$786.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.70M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-20.46M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$263.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$744.00K	USD	1 Quarter
Increase/(Decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.65M	USD	1 Quarter
Increase/(Decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.26M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.68M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.00M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$40.42M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.64M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$42.68M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$37.00M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$40.42M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.64M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$19.35M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.52M	USD	1 Quarter
Net change in postretirement benefit plan, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$-5.00K	USD	1 Quarter
Net change in postretirement benefit plan, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$-4.00K	USD	1 Quarter
Net foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$541.00K	USD	1 Quarter
Net foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.36M	USD	1 Quarter
Net change in postretirement benefit plan, net of taxes of $(4) and $(5) for the three months ended March 31, 2018 and 2017	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$13.00K	USD	1 Quarter
Net change in postretirement benefit plan, net of taxes of $(4) and $(5) for the three months ended March 31, 2018 and 2017	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$10.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$551.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.38M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$20.72M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.07M	USD	1 Quarter

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