10-Q Filing

NEWMARKET CORP CIK: 1282637 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001282637-19-000011`
Period End Date	20190331
Filing Date	20190425
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	neu-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 26 Cash Flow Statement 40 Stockholders Equity 23 Comprehensive Income 20

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$78.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.17M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	11.18M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	11.19M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.04M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	11.19M	shares	Point-in-time
Trade and other accounts receivable, less allowance for doubtful accounts	`ReceivablesNetCurrent`	$314.86M	USD	Point-in-time
Trade and other accounts receivable, less allowance for doubtful accounts	`ReceivablesNetCurrent`	$351.40M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	11.18M	shares	Point-in-time
Inventories	`InventoryNet`	$396.34M	USD	Point-in-time
Inventories	`InventoryNet`	$395.66M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$30.83M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$29.18M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$856.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$813.42M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$633.01M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$644.14M	USD	Point-in-time
Intangibles (net of amortization) and goodwill	`IntangibleAssetsNetIncludingGoodwill`	$135.06M	USD	Point-in-time
Intangibles (net of amortization) and goodwill	`IntangibleAssetsNetIncludingGoodwill`	$136.04M	USD	Point-in-time
Prepaid pension cost	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$92.21M	USD	Point-in-time
Prepaid pension cost	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$88.70M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$57.76M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.09M	USD	Point-in-time
Deferred charges and other assets	`OtherAssetsNoncurrent`	$9.88M	USD	Point-in-time
Deferred charges and other assets	`OtherAssetsNoncurrent`	$18.97M	USD	Point-in-time
Total assets	`Assets`	$1.70B	USD	Point-in-time
Total assets	`Assets`	$1.80B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$151.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$135.47M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$78.23M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$91.20M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$17.92M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$17.88M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$6.43M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$10.38M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$13.48M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.52M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$271.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$259.97M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$782.02M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$771.00M	USD	Point-in-time
Operating lease liabilities-noncurrent	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liabilities-noncurrent	`OperatingLeaseLiabilityNoncurrent`	$43.93M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$165.07M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$174.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.26B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.21B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock and paid-in capital (without par value; authorized shares - 80,000,000; issued and outstanding shares - 11,188,126 at March 31, 2019 and 11,184,482 at December 31, 2018)	`CommonStocksIncludingAdditionalPaidInCapital`	$431.00K	USD	Point-in-time
Common stock and paid-in capital (without par value; authorized shares - 80,000,000; issued and outstanding shares - 11,188,126 at March 31, 2019 and 11,184,482 at December 31, 2018)	`CommonStocksIncludingAdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-145.99M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-181.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-176.13M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-132.69M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$713.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$671.22M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$489.91M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$538.20M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$601.65M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$654.78M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.70B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.80B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$589.25M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$536.62M	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$383.75M	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$432.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$156.78M	USD	1 Quarter
Gross profit	`GrossProfit`	$152.87M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$36.77M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$40.91M	USD	1 Quarter
Research, development, and testing expenses	`ResearchAndDevelopmentExpense`	$33.22M	USD	1 Quarter
Research, development, and testing expenses	`ResearchAndDevelopmentExpense`	$34.30M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$81.58M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$82.87M	USD	1 Quarter
Interest and financing expenses, net	`InterestExpense`	$5.16M	USD	1 Quarter
Interest and financing expenses, net	`InterestExpense`	$8.01M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$5.95M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$4.90M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$80.81M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$81.31M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$20.75M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$18.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$62.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$60.56M	USD	1 Quarter
Earnings per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$5.57	USD	1 Quarter
Earnings per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$5.14	USD	1 Quarter
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$1.75	USD	1 Quarter
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$1.75	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$78.25M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$72.83M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$84.17M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$73.04M	USD	Point-in-time
Net income	`NetIncomeLoss`	$62.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$60.56M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.66M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$2.16M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$2.71M	USD	1 Quarter
Working capital changes	`IncreaseDecreaseInOperatingCapital`	$63.66M	USD	1 Quarter
Working capital changes	`IncreaseDecreaseInOperatingCapital`	$63.43M	USD	1 Quarter
Cash pension and postretirement contributions	`PensionAndOtherPostretirementBenefitContributions`	$6.71M	USD	1 Quarter
Cash pension and postretirement contributions	`PensionAndOtherPostretirementBenefitContributions`	$2.42M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-1.32M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-536.00K	USD	1 Quarter
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$19.13M	USD	1 Quarter
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$10.04M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.80M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.35M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.80M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.35M	USD	1 Quarter
Net borrowings under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$16.07M	USD	1 Quarter
Net borrowings under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$22.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$20.63M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$19.58M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$632.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-98.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-613.00K	USD	1 Quarter
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.12M	USD	1 Quarter
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$641.00K	USD	1 Quarter
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$780.00K	USD	1 Quarter
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$548.00K	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.21M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.34M	USD	1 Quarter
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$78.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$72.83M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$84.17M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$73.04M	USD	Point-in-time

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Cash dividends (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$1.75	USD	1 Quarter
Cash dividends (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$1.75	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	11.19M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	11.18M	shares	Point-in-time
Balance	`StockholdersEquity`	$489.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$538.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$601.65M	USD	Point-in-time
Balance	`StockholdersEquity`	$654.78M	USD	Point-in-time
Net income	`NetIncomeLoss`	$62.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$60.56M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.19M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$13.30M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$19.58M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$20.63M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$632.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$477.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$529.00K	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	11.19M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	11.18M	shares	Point-in-time
Balance	`StockholdersEquity`	$489.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$538.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$601.65M	USD	Point-in-time
Balance	`StockholdersEquity`	$654.78M	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
Amortization of prior service cost (credit) included in net periodic benefit cost (income), income tax expense (benefit)	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax`	$-180.00K	USD	1 Quarter
Amortization of prior service cost (credit) included in net periodic benefit cost (income), income tax expense (benefit)	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax`	$-185.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$62.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$60.56M	USD	1 Quarter
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), income tax expense (benefit)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$-254.00K	USD	1 Quarter
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), income tax expense (benefit)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$-360.00K	USD	1 Quarter
Foreign currency translation adjustments, income tax expense (benefit)	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-40.00K	USD	1 Quarter
Foreign currency translation adjustments, income tax expense (benefit)	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-107.00K	USD	1 Quarter
Amortization of prior service cost (credit) included in net periodic benefit cost, net of income tax expense (benefit) of $(185) in 2019 and $(180) in 2018	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-601.00K	USD	1 Quarter
Amortization of prior service cost (credit) included in net periodic benefit cost, net of income tax expense (benefit) of $(185) in 2019 and $(180) in 2018	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-591.00K	USD	1 Quarter
Amortization of actuarial net loss (gain) included in net periodic benefit cost, net of income tax expense (benefit) of $254 in 2019 and $360 in 2018	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-1.14M	USD	1 Quarter
Amortization of actuarial net loss (gain) included in net periodic benefit cost, net of income tax expense (benefit) of $254 in 2019 and $360 in 2018	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-841.00K	USD	1 Quarter
Total pension plans and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-545.00K	USD	1 Quarter
Total pension plans and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-240.00K	USD	1 Quarter
Foreign currency translation adjustments, net of income tax expense (benefit) of $(107) in 2019 and $(40) in 2018	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$12.76M	USD	1 Quarter
Foreign currency translation adjustments, net of income tax expense (benefit) of $(107) in 2019 and $(40) in 2018	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.95M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.19M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$13.30M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$73.87M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$67.39M	USD	1 Quarter

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