10-Q Filing

NEWMARKET CORP CIK: 1282637 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001282637-20-000011`
Period End Date	20200331
Filing Date	20200423
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	neu-202033110xq_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 26 Cash Flow Statement 40 Stockholders Equity 24 Comprehensive Income 20

Balance Sheet 68 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
Common stock, issued shares	`CommonStockSharesIssued`	11.19M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$144.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$178.66M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	10.94M	shares	Point-in-time
Trade and other accounts receivable, less allowance for credit losses	`ReceivablesNetCurrent`	$347.15M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	11.19M	shares	Point-in-time
Trade and other accounts receivable, less allowance for credit losses	`ReceivablesNetCurrent`	$335.83M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	10.94M	shares	Point-in-time
Inventories	`InventoryNet`	$365.94M	USD	Point-in-time
Inventories	`InventoryNet`	$371.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$34.12M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$33.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$879.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$930.93M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$633.87M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$635.44M	USD	Point-in-time
Intangibles (net of amortization) and goodwill	`IntangibleAssetsNetIncludingGoodwill`	$131.01M	USD	Point-in-time
Intangibles (net of amortization) and goodwill	`IntangibleAssetsNetIncludingGoodwill`	$131.88M	USD	Point-in-time
Prepaid pension cost	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$133.85M	USD	Point-in-time
Prepaid pension cost	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$136.35M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$57.44M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$60.51M	USD	Point-in-time
Deferred charges and other assets	`OtherAssetsNoncurrent`	$44.08M	USD	Point-in-time
Deferred charges and other assets	`OtherAssetsNoncurrent`	$44.06M	USD	Point-in-time
Total assets	`Assets`	$1.93B	USD	Point-in-time
Total assets	`Assets`	$1.89B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$178.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$178.46M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$89.82M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$77.35M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$19.02M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$19.22M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$7.46M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$10.63M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$14.04M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$13.06M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$5.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$8.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$308.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$312.91M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$740.51M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$642.94M	USD	Point-in-time
Operating lease liabilities-noncurrent	`OperatingLeaseLiabilityNoncurrent`	$46.79M	USD	Point-in-time
Operating lease liabilities-noncurrent	`OperatingLeaseLiabilityNoncurrent`	$43.59M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$197.43M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$203.41M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.29B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.20B	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock and paid-in capital (without par value; authorized shares - 80,000,000; issued and outstanding shares - 10,938,744 at March 31, 2020 and 11,188,549 at December 31, 2019)	`CommonStocksIncludingAdditionalPaidInCapital`	$1.97M	USD	Point-in-time
Common stock and paid-in capital (without par value; authorized shares - 80,000,000; issued and outstanding shares - 10,938,744 at March 31, 2020 and 11,188,549 at December 31, 2019)	`CommonStocksIncludingAdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-176.34M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-181.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-162.75M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-176.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$843.88M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$815.59M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$683.10M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$489.91M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$639.25M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$538.20M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.93B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.89B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$536.62M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$559.42M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$378.51M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$383.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$152.87M	USD	1 Quarter
Gross profit	`GrossProfit`	$180.91M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$36.77M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$35.72M	USD	1 Quarter
Research, development, and testing expenses	`ResearchAndDevelopmentExpense`	$33.22M	USD	1 Quarter
Research, development, and testing expenses	`ResearchAndDevelopmentExpense`	$35.51M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$82.87M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$109.69M	USD	1 Quarter
Interest and financing expenses, net	`InterestExpense`	$8.01M	USD	1 Quarter
Interest and financing expenses, net	`InterestExpense`	$7.10M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$5.95M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$7.50M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$80.81M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$110.08M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$18.60M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$24.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$62.20M	USD	1 Quarter
Earnings per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$7.67	USD	1 Quarter
Earnings per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$5.57	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`	$1.90	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$178.66M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$144.40M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.25M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$73.04M	USD	Point-in-time
Net income	`NetIncomeLoss`	$85.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$62.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.37M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.94M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$2.16M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$3.38M	USD	1 Quarter
Working capital changes	`IncreaseDecreaseInOperatingCapital`	$42.06M	USD	1 Quarter
Working capital changes	`IncreaseDecreaseInOperatingCapital`	$63.43M	USD	1 Quarter
Cash pension and postretirement contributions	`PensionAndOtherPostretirementBenefitContributions`	$2.42M	USD	1 Quarter
Cash pension and postretirement contributions	`PensionAndOtherPostretirementBenefitContributions`	$2.56M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-1.32M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-1.21M	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`	$64.46M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.11M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.35M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.35M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.11M	USD	1 Quarter
Net borrowings under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$16.07M	USD	1 Quarter
Net borrowings under revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$97.42M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$21.16M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$19.58M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$79.47M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.69M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-613.00K	USD	1 Quarter
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.89M	USD	1 Quarter
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.12M	USD	1 Quarter
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.20M	USD	1 Quarter
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$548.00K	USD	1 Quarter
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$34.27M	USD	1 Quarter
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.21M	USD	1 Quarter
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$178.66M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$144.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$73.04M	USD	Point-in-time

Stockholders Equity 24 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`	$1.90	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	11.19M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	10.94M	shares	Point-in-time
Balance	`StockholdersEquity`	$683.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$489.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$639.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$538.20M	USD	Point-in-time
Net income	`NetIncomeLoss`	$85.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$62.20M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.19M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-13.60M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$21.16M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$19.58M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$94.34M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$336.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$477.00K	USD	1 Quarter
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$633.00K	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	11.19M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	10.94M	shares	Point-in-time
Balance	`StockholdersEquity`	$683.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$489.91M	USD	Point-in-time
Balance	`StockholdersEquity`	$639.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$538.20M	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$85.54M	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
Amortization of prior service cost (credit) included in net periodic benefit cost (income), income tax expense (benefit)	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax`	$-170.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$62.20M	USD	1 Quarter
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), income tax expense (benefit)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$-397.00K	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
Foreign currency translation adjustments, income tax expense (benefit)	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-107.00K	USD	1 Quarter
Foreign currency translation adjustments, income tax expense (benefit)	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-841.00K	USD	1 Quarter
Amortization of prior service cost (credit) included in net periodic benefit cost (income), net of income tax expense (benefit) of $(170) in 2020 and $(185) 2019	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-531.00K	USD	1 Quarter
Amortization of prior service cost (credit) included in net periodic benefit cost (income), net of income tax expense (benefit) of $(170) in 2020 and $(185) 2019	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-601.00K	USD	1 Quarter
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), net of income tax expense (benefit) of $397 in 2020 and $254 in 2019	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-841.00K	USD	1 Quarter
Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), net of income tax expense (benefit) of $397 in 2020 and $254 in 2019	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-1.27M	USD	1 Quarter
Total pension plans and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-240.00K	USD	1 Quarter
Total pension plans and other postretirement benefits	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-736.00K	USD	1 Quarter
Foreign currency translation adjustments, net of income tax expense (benefit) of $(841) in 2020 and $(107) in 2019	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-14.33M	USD	1 Quarter
Foreign currency translation adjustments, net of income tax expense (benefit) of $(841) in 2020 and $(107) in 2019	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.95M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.19M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-13.60M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$67.39M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$71.95M	USD	1 Quarter

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