10-Q Filing

METALICO INC CIK: 1048685 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-214091`
Period End Date	20130331
Filing Date	20130510
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	mea-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 40 Cash Flow Statement 58 Comprehensive Income 6

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$572.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$561.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.42M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.58M	USD	Point-in-time
Trade receivables, less allowance for doubtful accounts 2013 - $561; 2012 - $572	`AccountsReceivableNetCurrent`	$59.07M	USD	Point-in-time
Trade receivables, less allowance for doubtful accounts 2013 - $561; 2012 - $572	`AccountsReceivableNetCurrent`	$61.34M	USD	Point-in-time
Inventories	`InventoryNet`	$74.95M	USD	Point-in-time
Inventories	`InventoryNet`	$69.21M	USD	Point-in-time
Prepaid expenses and other current assets	`OtherPrepaidExpenseCurrent`	$5.40M	USD	Point-in-time
Prepaid expenses and other current assets	`OtherPrepaidExpenseCurrent`	$6.54M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.66M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$4.34M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.01M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$150.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$148.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$100.43M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$101.58M	USD	Point-in-time
Goodwill	`Goodwill`	$54.77M	USD	Point-in-time
Goodwill	`Goodwill`	$54.93M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$40.92M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$40.12M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$4.15M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$4.21M	USD	Point-in-time
Total assets	`Assets`	$381.40M	USD	Point-in-time
Total assets	`Assets`	$347.65M	USD	Point-in-time
Total assets	`Assets`	$351.98M	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$36.10M	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$7.89M	USD	Point-in-time
Current maturities of other long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$5.25M	USD	Point-in-time
Current maturities of other long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$4.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.18M	USD	Point-in-time
Accrued expenses and other current liabilities	`OtherAccruedLiabilitiesCurrent`	$5.33M	USD	Point-in-time
Accrued expenses and other current liabilities	`OtherAccruedLiabilitiesCurrent`	$5.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.92M	USD	Point-in-time
Senior unsecured convertible notes payable	`ConvertibleLongTermNotesPayable`	$67.94M	USD	Point-in-time
Senior unsecured convertible notes payable	`ConvertibleLongTermNotesPayable`	$67.93M	USD	Point-in-time
Other long-term debt, less current maturities	`LongTermDebtAndCapitalLeaseObligations`	$16.82M	USD	Point-in-time
Other long-term debt, less current maturities	`LongTermDebtAndCapitalLeaseObligations`	$49.33M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.65M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.74M	USD	Point-in-time
Accrued expenses and other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.48M	USD	Point-in-time
Accrued expenses and other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.47M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$130.38M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$97.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$170.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$166.67M	USD	Point-in-time
Commitments and Contingencies (Notes 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Notes 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$48.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$48.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$184.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$184.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.38M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-449.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-449.00K	USD	Point-in-time
Total Metalico, Inc. and Subsidiaries equity	`StockholdersEquity`	$179.87M	USD	Point-in-time
Total Metalico, Inc. and Subsidiaries equity	`StockholdersEquity`	$180.51M	USD	Point-in-time
Noncontrolling interest	`NoncontrollingInterestInVariableInterestEntity`	$1.17M	USD	Point-in-time
Noncontrolling interest	`NoncontrollingInterestInVariableInterestEntity`	$1.11M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$180.98M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$181.68M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$351.98M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$347.65M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueGoodsNet`	$137.69M	USD	1 Quarter
Revenue	`SalesRevenueGoodsNet`	$164.09M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$126.00M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$146.89M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.60M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.33M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.48M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$137.08M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$158.19M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.89M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$611.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.30M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.31M	USD	1 Quarter
Equity in income (loss) of unconsolidated investee	`IncomeLossFromEquityMethodInvestments`	$-10.00K	USD	1 Quarter
Equity in income (loss) of unconsolidated investee	`IncomeLossFromEquityMethodInvestments`	$-71.00K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$93.00K	USD	1 Quarter
Financial instruments fair value adjustment	`DerivativeGainLossOnDerivativeNet`	$-152.00K	USD	1 Quarter
Financial instruments fair value adjustment	`DerivativeGainLossOnDerivativeNet`	$3.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$14.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$4.00K	USD	1 Quarter
Total financial and other income (expense)	`NonoperatingIncomeExpense`	$-2.37M	USD	1 Quarter
Total financial and other income (expense)	`NonoperatingIncomeExpense`	$-2.37M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.76M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.53M	USD	1 Quarter
(Benefit) provision for federal and state income taxes	`IncomeTaxExpenseBenefit`	$-524.00K	USD	1 Quarter
(Benefit) provision for federal and state income taxes	`IncomeTaxExpenseBenefit`	$1.31M	USD	1 Quarter
Consolidated net (loss) income	`ProfitLoss`	$-1.23M	USD	1 Quarter
Consolidated net (loss) income	`ProfitLoss`	$2.22M	USD	1 Quarter
Net loss attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$53.00K	USD	1 Quarter
Net (loss) income attributable to Metalico, Inc.	`NetIncomeLoss`	$2.22M	USD	1 Quarter
Net (loss) income attributable to Metalico, Inc.	`NetIncomeLoss`	$-1.18M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	47.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	47.75M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.50M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.75M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Consolidated net (loss) income	`ProfitLoss`	$-1.23M	USD	1 Quarter
Consolidated net (loss) income	`ProfitLoss`	$2.22M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.74M	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-24.00K	USD	1 Quarter
Equity in loss of unconsolidated investee	`IncomeLossFromEquityMethodInvestments`	$-10.00K	USD	1 Quarter
Equity in loss of unconsolidated investee	`IncomeLossFromEquityMethodInvestments`	$-71.00K	USD	1 Quarter
Compensation expense on restricted stock and stock options issued	`ShareBasedCompensation`	$417.00K	USD	1 Quarter
Compensation expense on restricted stock and stock options issued	`ShareBasedCompensation`	$342.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$97.00K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$93.00K	USD	1 Quarter
Net (gain) loss on sale and disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$2.00K	USD	1 Quarter
Net (gain) loss on sale and disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-20.00K	USD	1 Quarter
Financial instruments fair value adjustment	`DerivativeGainLossOnDerivativeNet`	$-152.00K	USD	1 Quarter
Financial instruments fair value adjustment	`DerivativeGainLossOnDerivativeNet`	$3.00K	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$-14.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$26.59M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$2.28M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-11.18M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.74M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.41M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.83M	USD	1 Quarter
Accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$1.37M	USD	1 Quarter
Accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$2.19M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.04M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.86M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$65.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.06M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.76M	USD	1 Quarter
Cash paid for business acquisitions, less cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.50M	USD	1 Quarter
Cash paid for business acquisitions, less cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$700.00K	USD	1 Quarter
(Increase) decrease in other assets	`PaymentsForProceedsFromProductiveAssets`	$-72.00K	USD	1 Quarter
(Increase) decrease in other assets	`PaymentsForProceedsFromProductiveAssets`	$3.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.69M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.19M	USD	1 Quarter
Net borrowings (payments) under revolving lines-of-credit	`ProceedsFromRepaymentsOfOtherDebt`	$-3.33M	USD	1 Quarter
Net borrowings (payments) under revolving lines-of-credit	`ProceedsFromRepaymentsOfOtherDebt`	$11.97M	USD	1 Quarter
Proceeds from other borrowings	`ProceedsFromOtherDebt`	$279.00K	USD	1 Quarter
Proceeds from other borrowings	`ProceedsFromOtherDebt`	$3.65M	USD	1 Quarter
Principal payments on other borrowings	`RepaymentsOfOtherDebt`	$1.87M	USD	1 Quarter
Principal payments on other borrowings	`RepaymentsOfOtherDebt`	$4.54M	USD	1 Quarter
Debt issuance costs paid	`PaymentsOfDebtIssuanceCosts`	$400.00K	USD	1 Quarter
Debt issuance costs paid	`PaymentsOfDebtIssuanceCosts`	$275.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-24.00K	USD	1 Quarter
Proceeds from issuance of common stock on exercised options	`ProceedsFromStockOptionsExercised`	$36.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.70M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.20M	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-852.00K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-349.00K	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.42M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.58M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$5.42M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$5.93M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$5.58M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$2.22M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.18M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-1.23M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$2.22M	USD	1 Quarter

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