10-Q Filing

CENTRAL EUROPEAN DISTRIBUTION CORP CIK: 1046880 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-416932`
Period End Date	20120630
Filing Date	20121005
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	cedc-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 103 Income Statement 52 Cash Flow Statement 38

Balance Sheet 103 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$24.51M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$27.39M	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$94.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.68M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	73.13M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts at June 30, 2012 of $ 27,387 and at December 31, 2011 of $24,510	`AccountsReceivableNetCurrent`	$410.87M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts at June 30, 2012 of $ 27,387 and at December 31, 2011 of $24,510	`AccountsReceivableNetCurrent`	$213.14M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	72.74M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	73.13M	shares	Point-in-time
Inventories	`InventoryNet`	$136.83M	USD	Point-in-time
Inventories	`InventoryNet`	$150.16M	USD	Point-in-time
Inventories	`InventoryNet`	$117.69M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	72.74M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$21.13M	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$16.54M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$23.02M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.87M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.22M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$4.72M	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsCurrentNet`	$6.80M	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsCurrentNet`	$2.96M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$537.66M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$670.20M	USD	Point-in-time
Treasury Stock at cost, shares	`TreasuryStockShares`	246,037.00	shares	Point-in-time
Treasury Stock at cost, shares	`TreasuryStockShares`	246,037.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$463.85M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$457.60M	USD	Point-in-time
Goodwill	`Goodwill`	$670.29M	USD	Point-in-time
Goodwill	`Goodwill`	$663.79M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$173.45M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$176.66M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetNoncurrent`	$21.49M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetNoncurrent`	$23.25M	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$13.55M	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$12.10M	USD	Point-in-time
Non-current assets held for sale	`AssetsHeldForSaleLongLived`	$675.00K	USD	Point-in-time
Non-current assets held for sale	`AssetsHeldForSaleLongLived`	$675.00K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$1.35B	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$1.33B	USD	Point-in-time
Total Assets	`Assets`	$1.87B	USD	Point-in-time
Total Assets	`Assets`	$2.02B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$83.07M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$144.80M	USD	Point-in-time
Bank loans and overdraft facilities	`ShortTermBorrowings`	$85.76M	USD	Point-in-time
Bank loans and overdraft facilities	`ShortTermBorrowings`	$57.19M	USD	Point-in-time
Obligations under Convertible Senior Notes	`ConvertibleShortTermNotesPayable`	$270.99M	USD	Point-in-time
Obligations under Convertible Senior Notes	`ConvertibleShortTermNotesPayable`	-	USD	Point-in-time
Obligations under Debt Security	`DebtObligations`	-	USD	Point-in-time
Obligations under Debt Security	`DebtObligations`	$70.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$9.61M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$7.36M	USD	Point-in-time
Taxes other than income taxes	`SalesAndExciseTaxPayableCurrent`	$189.51M	USD	Point-in-time
Taxes other than income taxes	`SalesAndExciseTaxPayableCurrent`	$124.77M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$61.03M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$48.21M	USD	Point-in-time
Current portions of obligations under capital leases	`CapitalLeaseObligationsCurrent`	$1.11M	USD	Point-in-time
Current portions of obligations under capital leases	`CapitalLeaseObligationsCurrent`	$956.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$479.00M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$675.38M	USD	Point-in-time
Long-term obligations under capital leases	`CapitalLeaseObligationsNoncurrent`	$532.00K	USD	Point-in-time
Long-term obligations under capital leases	`CapitalLeaseObligationsNoncurrent`	$684.00K	USD	Point-in-time
Long-term obligations under Convertible Senior Notes	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Long-term obligations under Convertible Senior Notes	`ConvertibleLongTermNotesPayable`	$304.64M	USD	Point-in-time
Long-term obligations under Senior Secured Notes	`SecuredLongTermDebt`	$917.85M	USD	Point-in-time
Long-term obligations under Senior Secured Notes	`SecuredLongTermDebt`	$932.09M	USD	Point-in-time
Long-term accruals	`OtherAccruedLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Long-term accruals	`OtherAccruedLiabilitiesNoncurrent`	$1.98M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$84.97M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$91.13M	USD	Point-in-time
Commitments and contingent liabilities (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$1.01B	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$1.33B	USD	Point-in-time
Temporary equity	`TemporaryEquityCarryingAmounts`	-	USD	Point-in-time
Temporary equity	`TemporaryEquityCarryingAmounts`	$29.56M	USD	Point-in-time
Common Stock ($0.01 par value, 120,000,000 shares authorized, 73,129,194 and 72,740,302 shares issued and outstanding at June 30, 2012 and December 31, 2011, respectively)	`CommonStockValue`	$731.00K	USD	Point-in-time
Common Stock ($0.01 par value, 120,000,000 shares authorized, 73,129,194 and 72,740,302 shares issued and outstanding at June 30, 2012 and December 31, 2011, respectively)	`CommonStockValue`	$727.00K	USD	Point-in-time
Preferred Stock ($0.01 par value, 1,000,000 shares authorized, none issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock ($0.01 par value, 1,000,000 shares authorized, none issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$1.37B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$1.37B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.23B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.20B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$35.16M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$17.82M	USD	Point-in-time
Less Treasury Stock at cost (246,037 shares at June 30, 2012 and December 31, 2011)	`TreasuryStockValue`	$150.00K	USD	Point-in-time
Less Treasury Stock at cost (246,037 shares at June 30, 2012 and December 31, 2011)	`TreasuryStockValue`	$150.00K	USD	Point-in-time
Total Stockholder's Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$158.11M	USD	Point-in-time
Total Stockholder's Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$207.33M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.02B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$1.87B	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsGross`	$402.75M	USD	1 Quarter
Sales	`SalesRevenueGoodsGross`	$724.51M	USD	2 Qtrs
Excise taxes	`ExciseAndSalesTaxes`	$391.32M	USD	2 Qtrs
Excise taxes	`ExciseAndSalesTaxes`	$215.55M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$333.19M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$336.71M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$187.20M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$198.36M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$202.74M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$111.86M	USD	1 Quarter
Gross profit	`GrossProfit`	$130.45M	USD	2 Qtrs
Gross profit	`GrossProfit`	$75.34M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$68.10M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$127.03M	USD	2 Qtrs
Gain on remeasurement of previously held equity interests	`GainOnPurchaseOfBusiness`	-	USD	2 Qtrs
Gain on remeasurement of previously held equity interests	`GainOnPurchaseOfBusiness`	-	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.24M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.42M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$10.89M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$16.09M	USD	2 Qtrs
Interest income / (expense), net	`InterestIncomeExpenseNet`	$-25.61M	USD	1 Quarter
Interest income / (expense), net	`InterestIncomeExpenseNet`	$-28.36M	USD	1 Quarter
Interest income / (expense), net	`InterestIncomeExpenseNet`	$-55.21M	USD	2 Qtrs
Interest income / (expense), net	`InterestIncomeExpenseNet`	$-51.91M	USD	2 Qtrs
Other financial income / (expense), net	`OtherFinancialIncomeExpenseNet`	$19.01M	USD	1 Quarter
Other financial income / (expense), net	`OtherFinancialIncomeExpenseNet`	$22.16M	USD	2 Qtrs
Other financial income / (expense), net	`OtherFinancialIncomeExpenseNet`	$49.53M	USD	2 Qtrs
Other financial income / (expense), net	`OtherFinancialIncomeExpenseNet`	$-75.43M	USD	1 Quarter
Other non operating income / (expense), net	`OtherNonoperatingIncomeExpense`	$-3.64M	USD	2 Qtrs
Other non operating income / (expense), net	`OtherNonoperatingIncomeExpense`	$-2.50M	USD	1 Quarter
Other non operating income / (expense), net	`OtherNonoperatingIncomeExpense`	$-5.10M	USD	2 Qtrs
Other non operating income / (expense), net	`OtherNonoperatingIncomeExpense`	$-2.66M	USD	1 Quarter
Income / (loss) before income taxes and equity in net losses from unconsolidated investments	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-31.43M	USD	2 Qtrs
Income / (loss) before income taxes and equity in net losses from unconsolidated investments	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-96.30M	USD	1 Quarter
Income tax benefit / (expense)	`IncomeTaxExpenseBenefit`	$2.03M	USD	2 Qtrs
Income tax benefit / (expense)	`IncomeTaxExpenseBenefit`	$-2.65M	USD	1 Quarter
Equity in net losses of affiliates	`IncomeLossFromEquityMethodInvestments`	-	USD	2 Qtrs
Equity in net losses of affiliates	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Net income / (loss)	`NetIncomeLoss`	$-33.47M	USD	2 Qtrs
Net income / (loss)	`NetIncomeLoss`	$-93.65M	USD	1 Quarter
Net loss from operations per share of common stock, basic	`EarningsPerShareBasic`	$-0.07	USD	2 Qtrs
Net loss from operations per share of common stock, basic	`EarningsPerShareBasic`	$-0.45	USD	2 Qtrs
Net loss from operations per share of common stock, basic	`EarningsPerShareBasic`	$-1.23	USD	1 Quarter
Net loss from operations per share of common stock, basic	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Net loss from operations per share of common stock, diluted	`EarningsPerShareDiluted`	$-0.07	USD	2 Qtrs
Net loss from operations per share of common stock, diluted	`EarningsPerShareDiluted`	$-1.23	USD	1 Quarter
Net loss from operations per share of common stock, diluted	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Net loss from operations per share of common stock, diluted	`EarningsPerShareDiluted`	$-0.45	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-17.34M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-39.87M	USD	1 Quarter
Comprehensive income / (loss) attributable to the company	`ComprehensiveIncomeNetOfTax`	$-50.81M	USD	2 Qtrs
Comprehensive income / (loss) attributable to the company	`ComprehensiveIncomeNetOfTax`	$-133.52M	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Debt issuance cost	`DebtIssuanceCosts`	$838.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-33.47M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-93.65M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.84M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.81M	USD	2 Qtrs
Unrealized foreign exchange gains	`ForeignCurrencyTransactionGainLossUnrealized`	$20.20M	USD	2 Qtrs
Stock options fair value expense	`StockOptionPlanExpense`	$1.59M	USD	2 Qtrs
Equity loss in affiliates	`IncomeLossFromEquityMethodInvestments`	-	USD	2 Qtrs
Equity loss in affiliates	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Gain on fair value remeasurement of previously held equity interest	`GainLossOnInvestments`	-	USD	2 Qtrs
Other non cash items	`OtherNoncashIncomeExpense`	$-1.04M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-201.15M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$19.19M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.69M	USD	2 Qtrs
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-69.03M	USD	2 Qtrs
Other accrued liabilities and payables (including taxes)	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-52.93M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.32M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.78M	USD	2 Qtrs
Proceeds from the disposal of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$234.00K	USD	2 Qtrs
Purchase of intangibles	`PaymentsToAcquireProductiveAssets`	-	USD	2 Qtrs
Purchase of trademarks	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Acquisitions of subsidiaries, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.55M	USD	2 Qtrs
Borrowings on bank loans and overdraft facility	`ProceedsFromBankDebt`	$14.99M	USD	2 Qtrs
Debt security, net of debt issuance cost of $838	`ProceedsFromShortTermDebt`	$69.16M	USD	2 Qtrs
Repayment of Convertible Senior Notes	`RepaymentsOfConvertibleDebt`	$35.53M	USD	2 Qtrs
Payment of bank loans, overdraft facility and other borrowings	`RepaymentsOfBankDebt`	$37.21M	USD	2 Qtrs
Issuance of shares in private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$30.00M	USD	2 Qtrs
Decrease in short term capital leases payable	`ReductionOfShortTermCapitalLeaseObligations`	$10.00K	USD	2 Qtrs
Proceeds from options exercised	`ProceedsFromStockOptionsExercised`	-	USD	2 Qtrs
Net cash provided by / (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$41.39M	USD	2 Qtrs
Currency effect on brought forward cash balances	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-895.00K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$44.27M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$94.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$138.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$94.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$138.68M	USD	Point-in-time
Common stock issued in connection with investment in subsidiaries	`StockIssued1`	-	USD	2 Qtrs

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