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10-Q Filing

MEADWESTVACO CORP CIK: 1159297 Q1 2015
Filing Information
Form Type 10-Q
Accession Number 0001193125-15-182097
Period End Date 20150331
Filing Date 20150511
Fiscal Year 2015
Fiscal Period Q1
XBRL Instance mwv-20150331.xml
Filing Contents
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, Shares authorized CommonStockSharesAuthorized 600.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.06B USD Point-in-time
Common stock, Shares authorized CommonStockSharesAuthorized 600.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $454.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $262.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $332.00M USD Point-in-time
Common stock, Shares issued CommonStockSharesIssued 167.81M shares Point-in-time
Accounts receivable, net ReceivablesNetCurrent $688.00M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $608.00M USD Point-in-time
Common stock, Shares issued CommonStockSharesIssued 167.20M shares Point-in-time
Inventories InventoryNet $673.00M USD Point-in-time
Common stock, Shares outstanding CommonStockSharesOutstanding 167.20M shares Point-in-time
Common stock, Shares outstanding CommonStockSharesOutstanding 167.81M shares Point-in-time
Inventories InventoryNet $681.00M USD Point-in-time
Other current assets OtherAssetsCurrent $135.00M USD Point-in-time
Other current assets OtherAssetsCurrent $139.00M USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperation $93.00M USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperation $104.00M USD Point-in-time
Current assets AssetsCurrent $1.97B USD Point-in-time
Current assets AssetsCurrent $1.86B USD Point-in-time
Property, plant, equipment and forestlands, net PropertyPlantAndEquipmentNet $3.42B USD Point-in-time
Property, plant, equipment and forestlands, net PropertyPlantAndEquipmentNet $3.31B USD Point-in-time
Prepaid pension asset DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent $1.37B USD Point-in-time
Prepaid pension asset DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent $1.40B USD Point-in-time
Goodwill Goodwill $692.00M USD Point-in-time
Goodwill Goodwill $680.00M USD Point-in-time
Restricted assets held by special purpose entities RestrictedAssetsHeldBySpecialPurposeEntities $1.26B USD Point-in-time
Restricted assets held by special purpose entities RestrictedAssetsHeldBySpecialPurposeEntities $1.26B USD Point-in-time
Other assets OtherAssetsNoncurrent $625.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $644.00M USD Point-in-time
Total Assets Assets $9.36B USD Point-in-time
Total Assets Assets $9.13B USD Point-in-time
Accounts payable AccountsPayableCurrent $519.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $540.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $322.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $388.00M USD Point-in-time
Notes payable and current maturities of long-term debt NotesAndLoansPayableCurrent $82.00M USD Point-in-time
Notes payable and current maturities of long-term debt NotesAndLoansPayableCurrent $74.00M USD Point-in-time
Liabilities held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation $22.00M USD Point-in-time
Liabilities held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation $19.00M USD Point-in-time
Current liabilities LiabilitiesCurrent $1.03B USD Point-in-time
Current liabilities LiabilitiesCurrent $937.00M USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $1.79B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $1.81B USD Point-in-time
Non-recourse liabilities held by special purpose entities NonrecourseLiabilitiesOwedByConsolidatedSpecialPurposeEntities $1.11B USD Point-in-time
Non-recourse liabilities held by special purpose entities NonrecourseLiabilitiesOwedByConsolidatedSpecialPurposeEntities $1.11B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $1.32B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $1.33B USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $672.00M USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $695.00M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.01 par Shares authorized: 600,000,000 Shares issued and outstanding: 2015 - 167,806,112 (2014 - 167,198,221) CommonStockValue $2.00M USD Point-in-time
Common stock, $0.01 par Shares authorized: 600,000,000 Shares issued and outstanding: 2015 - 167,806,112 (2014 - 167,198,221) CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.90B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.87B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $857.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $866.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-160.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-486.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-180.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-631.00M USD Point-in-time
Total shareholders' equity StockholdersEquity $3.13B USD Point-in-time
Total shareholders' equity StockholdersEquity $3.25B USD Point-in-time
Non-controlling interests MinorityInterest $153.00M USD Point-in-time
Non-controlling interests MinorityInterest $154.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.41B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.10B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.66B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.28B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $9.36B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $9.13B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $1.32B USD 1 Quarter
Net sales SalesRevenueNet $1.28B USD 1 Quarter
Cost of sales CostOfSales $1.04B USD 1 Quarter
Cost of sales CostOfSales $1.07B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAdministrativeExpenses $161.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAdministrativeExpenses $159.00M USD 1 Quarter
Interest expense InterestExpense $52.00M USD 1 Quarter
Interest expense InterestExpense $53.00M USD 1 Quarter
Other income, net OtherIncomeExpenseNet $18.00M USD 1 Quarter
Other income, net OtherIncomeExpenseNet $13.00M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $44.00M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $46.00M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $13.00M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $15.00M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $31.00M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $31.00M USD 1 Quarter
Income from discontinued operations, net of income taxes IncomeLossFromDiscontinuedOperationsNetOfTax $2.00M USD 1 Quarter
Income from discontinued operations, net of income taxes IncomeLossFromDiscontinuedOperationsNetOfTax - USD 1 Quarter
Net income ProfitLoss $31.00M USD 1 Quarter
Net income ProfitLoss $33.00M USD 1 Quarter
Less: Net income attributable to non-controlling interests, net of income taxes NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Net income attributable to non-controlling interests, net of income taxes NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net income attributable to the company NetIncomeLoss $33.00M USD 1 Quarter
Net income attributable to the company NetIncomeLoss $31.00M USD 1 Quarter
Income from continuing operations attributable to the company IncomeLossFromContinuingOperations $31.00M USD 1 Quarter
Income from continuing operations attributable to the company IncomeLossFromContinuingOperations $31.00M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.19 USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.18 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.01 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare - USD 1 Quarter
Net income attributable to the company EarningsPerShareBasic $0.20 USD 1 Quarter
Net income attributable to the company EarningsPerShareBasic $0.18 USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.18 USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.18 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $0.01 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare - USD 1 Quarter
Net income attributable to the company EarningsPerShareDiluted $0.19 USD 1 Quarter
Net income attributable to the company EarningsPerShareDiluted $0.18 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 170.70M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 167.90M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 173.50M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 170.80M shares 1 Quarter
Cash dividends per share CommonStockDividendsPerShareDeclared $1.25 USD 1 Quarter
Cash dividends per share CommonStockDividendsPerShareDeclared $0.25 USD 1 Quarter
Cash Flow Statement 65 line items
Line Item Tag Value Unit Period
Special dividend PaymentsOfCapitalDistribution $175.00M USD 1 Quarter
Net income ProfitLoss $31.00M USD 1 Quarter
Net income ProfitLoss $33.00M USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTax $2.00M USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTax - USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $93.00M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $82.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $7.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $3.00M USD 1 Quarter
Pension income (excluding curtailments) PensionIncome $30.00M USD 1 Quarter
Pension income (excluding curtailments) PensionIncome $17.00M USD 1 Quarter
Impairment of long-lived assets AssetImpairmentCharges - USD 1 Quarter
Impairment of long-lived assets AssetImpairmentCharges $13.00M USD 1 Quarter
Appreciation in cash surrender value insurance policies IncreaseDecreaseInCashSurrenderValueLifeInsurancePolicies $6.00M USD 1 Quarter
Appreciation in cash surrender value insurance policies IncreaseDecreaseInCashSurrenderValueLifeInsurancePolicies $8.00M USD 1 Quarter
Changes in working capital, excluding the effects of acquisitions and dispositions IncreaseDecreaseInOperatingCapital $213.00M USD 1 Quarter
Changes in working capital, excluding the effects of acquisitions and dispositions IncreaseDecreaseInOperatingCapital $203.00M USD 1 Quarter
Payment of alternative minimum taxes - forestlands sale IncreaseDecreaseInIncomeTaxesPaid $98.00M USD 1 Quarter
Payment of alternative minimum taxes - forestlands sale IncreaseDecreaseInIncomeTaxesPaid - USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-1.00M USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-4.00M USD 1 Quarter
Net cash used in operating activities from continuing operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-113.00M USD 1 Quarter
Net cash used in operating activities from continuing operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-207.00M USD 1 Quarter
Discontinued operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations $-1.00M USD 1 Quarter
Discontinued operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations - USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-113.00M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-208.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $65.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $66.00M USD 1 Quarter
Proceeds from dispositions of assets ProceedsFromDispositionsOfAssets - USD 1 Quarter
Proceeds from dispositions of assets ProceedsFromDispositionsOfAssets $3.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-3.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-65.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-60.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $50.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $50.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $20.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $19.00M USD 1 Quarter
Changes in notes payable and other short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebt $-2.00M USD 1 Quarter
Changes in notes payable and other short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebt $3.00M USD 1 Quarter
Changes in bank overdrafts ProceedsFromRepaymentsOfBankOverdrafts $1.00M USD 1 Quarter
Changes in bank overdrafts ProceedsFromRepaymentsOfBankOverdrafts $14.00M USD 1 Quarter
Dividends paid (including special dividend of $175 million paid in March 2014) PaymentsOfDividends $218.00M USD 1 Quarter
Dividends paid (including special dividend of $175 million paid in March 2014) PaymentsOfDividends $42.00M USD 1 Quarter
Stock repurchases PaymentsForRepurchaseOfCommonStock $305.00M USD 1 Quarter
Stock repurchases PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $12.00M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $13.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $6.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $3.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-460.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $6.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-20.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $3.00M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-192.00M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-725.00M USD 1 Quarter
At beginning of period CashAndCashEquivalentsAtCarryingValue $1.06B USD Point-in-time
At beginning of period CashAndCashEquivalentsAtCarryingValue $454.00M USD Point-in-time
At beginning of period CashAndCashEquivalentsAtCarryingValue $262.00M USD Point-in-time
At beginning of period CashAndCashEquivalentsAtCarryingValue $332.00M USD Point-in-time
At end of period CashAndCashEquivalentsAtCarryingValue $1.06B USD Point-in-time
At end of period CashAndCashEquivalentsAtCarryingValue $454.00M USD Point-in-time
At end of period CashAndCashEquivalentsAtCarryingValue $262.00M USD Point-in-time
At end of period CashAndCashEquivalentsAtCarryingValue $332.00M USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $31.00M USD 1 Quarter
Net income ProfitLoss $33.00M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $19.00M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-153.00M USD 1 Quarter
Adjustments related to pension and other benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.00M USD 1 Quarter
Adjustments related to pension and other benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-3.00M USD 1 Quarter
Net unrealized income on derivative instruments OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax - USD 1 Quarter
Net unrealized income on derivative instruments OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $5.00M USD 1 Quarter
Other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTax $-145.00M USD 1 Quarter
Other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTax $20.00M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $51.00M USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-112.00M USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive (loss) income attributable to the company ComprehensiveIncomeNetOfTax $51.00M USD 1 Quarter
Comprehensive (loss) income attributable to the company ComprehensiveIncomeNetOfTax $-112.00M USD 1 Quarter

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

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