10-Q Filing

REV GROUP, INC. CIK: 1687221 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-073447`
Period End Date	20170131
Filing Date	20170307
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	revg-20170128.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 30 Cash Flow Statement 62 Stockholders Equity 20 Comprehensive Income 6

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Contingently redeemable common stock, shares outstanding	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Contingently redeemable common stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.61M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.14M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$187.95M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$181.24M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$341.50M	USD	Point-in-time
Inventories, net	`InventoryNet`	$325.63M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$12.04M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$560.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$529.73M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$161.85M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$146.42M	USD	Point-in-time
Goodwill	`Goodwill`	$87.64M	USD	Point-in-time
Goodwill	`Goodwill`	$84.51M	USD	Point-in-time
Goodwill	`Goodwill`	$83.19M	USD	Point-in-time
Goodwill	`Goodwill`	$82.83M	USD	Point-in-time
Intangibles assets, net	`IntangibleAssetsNetExcludingGoodwill`	$124.04M	USD	Point-in-time
Intangibles assets, net	`IntangibleAssetsNetExcludingGoodwill`	$127.83M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$4.32M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$3.90M	USD	Point-in-time
Total assets	`Assets`	$889.02M	USD	Point-in-time
Total assets	`Assets`	$720.82M	USD	Point-in-time
Total assets	`Assets`	$942.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$129.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$111.45M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$87.63M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$107.04M	USD	Point-in-time
Accrued warranty	`StandardProductWarrantyAccrualCurrent`	$22.69M	USD	Point-in-time
Accrued warranty	`StandardProductWarrantyAccrualCurrent`	$21.15M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$54.58M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$91.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$294.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$331.60M	USD	Point-in-time
Notes payable and bank debt	`DebtAndCapitalLeaseObligations`	$256.04M	USD	Point-in-time
Notes payable and bank debt	`DebtAndCapitalLeaseObligations`	$336.01M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.37M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$17.45M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$24.83M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$23.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$628.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$664.43M	USD	Point-in-time
Contingently redeemable common stock (0 and 1,607,760 shares outstanding, respectively)	`TemporaryEquityCarryingAmountAttributableToParent`	$22.29M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock ($.001 par value, 5,000 shares authorized, none issued or outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock ($.001 par value, 5,000 shares authorized, none issued or outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$272.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$206.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$31.66M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$58.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$39.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$237.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$277.77M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$889.02M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$942.20M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$372.78M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$442.94M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$395.42M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$337.84M	USD	1 Quarter
Gross profit	`GrossProfit`	$47.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$34.94M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$27.11M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$56.50M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$1.14M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$1.20M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$2.96M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$864.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.24M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.61M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$61.17M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$33.45M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-13.65M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$1.49M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.69M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.48M	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-21.13M	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.20M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-2.19M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-7.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.01M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.30M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.26	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.26	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.01M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.87M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.42M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$550.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$585.00K	USD	1 Quarter
Amortization of senior note discount	`AmortizationOfDebtDiscountPremium`	$51.00K	USD	1 Quarter
Amortization of senior note discount	`AmortizationOfDebtDiscountPremium`	$42.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$25.51M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.68M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.87M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-8.56M	USD	1 Quarter
(Gain) Loss on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-46.00K	USD	1 Quarter
(Gain) Loss on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$205.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.38M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-11.16M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$1.64M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$17.38M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$3.29M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.16M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-22.26M	USD	1 Quarter
Accrued warranty	`IncreaseDecreaseInWarrantLiability`	$-1.28M	USD	1 Quarter
Accrued warranty	`IncreaseDecreaseInWarrantLiability`	$-1.51M	USD	1 Quarter
Customer advances	`IncreaseDecreaseInCustomerAdvances`	$6.85M	USD	1 Quarter
Customer advances	`IncreaseDecreaseInCustomerAdvances`	$19.14M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-7.57M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-28.94M	USD	1 Quarter
Long-term assets	`IncreaseDecreaseInNoncurrentAssets`	$164.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-33.75M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.98M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.73M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.62M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$919.00K	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$20.58M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.61M	USD	1 Quarter
Acquisition of Ancira assets	`PaymentsToAcquireBusinessTwoNetOfCashAcquired`	$6.43M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-13.78M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-38.29M	USD	1 Quarter
Net proceeds from borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	$13.30M	USD	1 Quarter
Net proceeds from borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	$79.60M	USD	1 Quarter
Repayment of debt assumed from acquisition	`RepaymentsOfDebt`	$3.70M	USD	1 Quarter
Repayment of long-term debt and capital leases	`RepaymentsOfDebtAndCapitalLeaseObligations`	$269.00K	USD	1 Quarter
Redemption of common stock and stock options	`PaymentsForRepurchaseOfCommonStock`	$3.25M	USD	1 Quarter
Redemption of common stock and stock options	`PaymentsForRepurchaseOfCommonStock`	$1.40M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$7.93M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$76.35M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$4.32M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-3.88M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.97M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.82M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.14M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.97M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.82M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.14M	USD	Point-in-time
Interest	`InterestPaidNet`	$10.10M	USD	1 Quarter
Interest	`InterestPaidNet`	$10.31M	USD	1 Quarter
Income taxes, net of refunds	`IncomeTaxesPaidNet`	$10.38M	USD	1 Quarter
Income taxes, net of refunds	`IncomeTaxesPaidNet`	$4.36M	USD	1 Quarter
Note payable due to seller of acquisition	`NotesIssued1`	$1.00M	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$237.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$277.77M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-3.01M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.30M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$458.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$19.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$4.35M	USD	1 Quarter
Change in value of contingently redeemable common stock	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$13.08M	USD	1 Quarter
Redemption of contingently redeemable common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$35.37M	USD	1 Quarter
Liability awards	`AdjustmentsToAdditionalPaidInCapitalStockOptionsQualifiedForLiabilityAwardAccounting`	$26.48M	USD	1 Quarter
Balance	`StockholdersEquity`	$237.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$277.77M	USD	Point-in-time
Temporary equity balance	`TemporaryEquityCarryingAmountAttributableToParent`	$22.29M	USD	Point-in-time
Temporary equity balance, shares	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Temporary equity balance, shares	`TemporaryEquitySharesOutstanding`	1.61M	shares	Point-in-time
Change in value of contingently redeemable common stock	`TemporaryEquityChangeInFairValueDueToChangeInStockPrice`	$13.08M	USD	1 Quarter
Redemption of contingently redeemable common stock	`ReclassificationsOfTemporaryToPermanentEquity`	$35.37M	USD	1 Quarter
Temporary equity balance	`TemporaryEquityCarryingAmountAttributableToParent`	$22.29M	USD	Point-in-time
Temporary equity balance, shares	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Temporary equity balance, shares	`TemporaryEquitySharesOutstanding`	1.61M	shares	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.01M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.30M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$458.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$19.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.55M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.28M	USD	1 Quarter

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