10-Q Filing

PLY GEM HOLDINGS INC CIK: 1284807 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001284807-14-000032`
Period End Date	20140331
Filing Date	20140512
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	pgem-20140329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 36 Cash Flow Statement 70

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.80M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.33M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.45M	USD	Point-in-time
Accounts receivable, less allowances of $4,331 and $4,453, respectively	`AccountsReceivableNetCurrent`	$140.06M	USD	Point-in-time
Accounts receivable, less allowances of $4,331 and $4,453, respectively	`AccountsReceivableNetCurrent`	$163.58M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$51.31M	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$55.28M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$25.42M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$23.82M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$60.34M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$72.35M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total inventory	`InventoryNet`	$153.05M	USD	Point-in-time
Total inventory	`InventoryNet`	$135.47M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$27.48M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.21M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$3.18M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$7.59M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$367.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$371.73M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	67.81M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	67.22M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	67.81M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	67.22M	shares	Point-in-time
Land	`Land`	$4.49M	USD	Point-in-time
Land	`Land`	$4.53M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$43.39M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$43.69M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$324.56M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$321.61M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$369.83M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$372.43M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$262.20M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$258.19M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$111.65M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$110.23M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$110.01M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$103.55M	USD	Point-in-time
Goodwill	`Goodwill`	$418.49M	USD	Point-in-time
Goodwill	`Goodwill`	$420.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$5.03M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$5.41M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$29.20M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$23.23M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$556.26M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$558.88M	USD	Point-in-time
Total Assets	`Assets`	$1.03B	USD	Point-in-time
Total Assets	`Assets`	$1.04B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$77.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$82.98M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$90.58M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$112.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$167.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$195.92M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$17.11M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$16.57M	USD	Point-in-time
Payable to related parties pursuant to tax receivable agreement	`Taxreceivableagreementpayable`	$11.62M	USD	Point-in-time
Payable to related parties pursuant to tax receivable agreement	`Taxreceivableagreementpayable`	$16.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$52.56M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$52.08M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$888.39M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$817.03M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock $0.01 par, 50,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock $0.01 par, 50,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.01 par, 250,000,000 shares authorized, 67,810,280 and 67,223,233 issued and outstanding, respectively	`CommonStockValue`	$678.00K	USD	Point-in-time
Common stock $0.01 par, 250,000,000 shares authorized, 67,810,280 and 67,223,233 issued and outstanding, respectively	`CommonStockValue`	$672.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$743.21M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$741.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-791.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-842.82M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.24M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.21M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-107.17M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-52.00M	USD	Point-in-time
Total Liabilities and Stockholder's Deficit	`LiabilitiesAndStockholdersEquity`	$1.03B	USD	Point-in-time
Total Liabilities and Stockholder's Deficit	`LiabilitiesAndStockholdersEquity`	$1.04B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$257.10M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$269.46M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$215.25M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$229.65M	USD	1 Quarter
Gross profit	`GrossProfit`	$41.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$39.81M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$38.22M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$54.08M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$5.32M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.20M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$42.42M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$59.40M	USD	1 Quarter
Operating earnings	`OperatingIncomeLoss`	$-19.59M	USD	1 Quarter
Operating earnings	`OperatingIncomeLoss`	$-572.00K	USD	1 Quarter
Foreign currency (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$-33.00K	USD	1 Quarter
Foreign currency (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$-228.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$18.52M	USD	1 Quarter
Interest expense	`InterestExpense`	$23.67M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$15.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$24.00K	USD	1 Quarter
Tax receivable agreement liability adjustment	`Taxreceivableagreementadjustment`	-	USD	1 Quarter
Tax receivable agreement liability adjustment	`Taxreceivableagreementadjustment`	$4.37M	USD	1 Quarter
Loss on modification or extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on modification or extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-21.36M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-64.05M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-24.26M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-12.47M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-51.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.11M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-28.88M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-56.59M	USD	1 Quarter
Earnings Per Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.76	USD	1 Quarter
Earnings Per Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.57	USD	1 Quarter
Weighted Average Number of Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	48.96M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	67.75M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-51.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-28.11M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$11.28M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$9.71M	USD	1 Quarter
Restructuring Costs	`RestructuringCosts`	$1.26M	USD	1 Quarter
Restructuring Costs	`RestructuringCosts`	-	USD	1 Quarter
Non-cash interest expense, net	`AmortizationOfFinancingCostsAndDiscounts`	$2.83M	USD	1 Quarter
Non-cash interest expense, net	`AmortizationOfFinancingCostsAndDiscounts`	$4.17M	USD	1 Quarter
Loss (gain) on foreign currency transactions	`ForeignCurrencyTransactionGainLossRealized`	$-228.00K	USD	1 Quarter
Loss (gain) on foreign currency transactions	`ForeignCurrencyTransactionGainLossRealized`	$-33.00K	USD	1 Quarter
Gains (Losses) on Extinguishment of Debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gains (Losses) on Extinguishment of Debt	`GainsLossesOnExtinguishmentOfDebt`	$-21.36M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$398.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$456.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.05M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.87M	USD	1 Quarter
Tax receivable agreement liability adjustment	`Taxreceivableagreementadjustment`	-	USD	1 Quarter
Tax receivable agreement liability adjustment	`Taxreceivableagreementadjustment`	$4.37M	USD	1 Quarter
Increase (decrease) in tax uncertainty, net of valuation allowance	`IncreaseDecreaseInLiabilityForUncertainTaxPositions`	$117.00K	USD	1 Quarter
Increase (decrease) in tax uncertainty, net of valuation allowance	`IncreaseDecreaseInLiabilityForUncertainTaxPositions`	$-206.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$157.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$8.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$21.33M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$24.79M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$22.23M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$18.81M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.52M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$511.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.43M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-27.06M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-13.23M	USD	1 Quarter
Cash payments on restructuring liabilities	`IncreaseDecreaseInRestructuringReserve`	$-2.08M	USD	1 Quarter
Cash payments on restructuring liabilities	`IncreaseDecreaseInRestructuringReserve`	$-539.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.03M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.81M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-90.29M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-59.41M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$5.68M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.67M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$617.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$11.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.65M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.06M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfSeniorLongTermDebt`	$927.85M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfSeniorLongTermDebt`	-	USD	1 Quarter
Net revolver borrowings (payments)	`ProceedsFromRepaymentsOfLinesOfCredit`	$50.00M	USD	1 Quarter
Net revolver borrowings (payments)	`ProceedsFromRepaymentsOfLinesOfCredit`	$40.00M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$852.00M	USD	1 Quarter
Payment of early call premium	`PaymentOfEarlyCallPremium`	-	USD	1 Quarter
Payment of early call premium	`PaymentOfEarlyCallPremium`	$61.14M	USD	1 Quarter
Proceeds from Stock Options Exercised	`ProceedsFromStockOptionsExercised`	$1.03M	USD	1 Quarter
Proceeds from Stock Options Exercised	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Debt issuance costs paid	`PaymentsOfDebtIssuanceCosts`	$14.32M	USD	1 Quarter
Debt issuance costs paid	`PaymentsOfDebtIssuanceCosts`	$62.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$41.41M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$49.94M	USD	1 Quarter
Impact of exchange rate movements on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-371.00K	USD	1 Quarter
Impact of exchange rate movements on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$98.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-16.03M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-54.31M	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$15.49M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$27.19M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$69.80M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$15.49M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$27.19M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$69.80M	USD	Point-in-time

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