10-Q Filing

PLY GEM HOLDINGS INC CIK: 1284807 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001284807-17-000018`
Period End Date	20170331
Filing Date	20170508
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	pgem-20170401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 94 Income Statement 36 Cash Flow Statement 66

Balance Sheet 94 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$109.42M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.66M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.66M	USD	Point-in-time
Accounts receivable, less allowances of $2,775 and $2,663, respectively	`AccountsReceivableNetCurrent`	$209.92M	USD	Point-in-time
Accounts receivable, less allowances of $2,775 and $2,663, respectively	`AccountsReceivableNetCurrent`	$215.76M	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$78.62M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$69.64M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$24.62M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$28.37M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$67.70M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$78.37M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total inventory	`InventoryNet`	$161.96M	USD	Point-in-time
Total inventory	`InventoryNet`	$185.37M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$25.52M	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`	$26.85M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$447.31M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$450.32M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	68.41M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	68.27M	shares	Point-in-time
Land	`Land`	$8.26M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	68.27M	shares	Point-in-time
Land	`Land`	$8.25M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	68.41M	shares	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$67.95M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$67.39M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$420.84M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$413.56M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$489.76M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$496.49M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$324.21M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$330.55M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$165.56M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$165.94M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$104.16M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$98.94M	USD	Point-in-time
Goodwill	`Goodwill`	$478.51M	USD	Point-in-time
Goodwill	`Goodwill`	$478.80M	USD	Point-in-time
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent	`DeferredTaxAssetsNetNoncurrent`	$51.60M	USD	Point-in-time
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent	`DeferredTaxAssetsNetNoncurrent`	$50.35M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$8.41M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$8.84M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$637.75M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$641.86M	USD	Point-in-time
Total Assets	`Assets`	$1.25B	USD	Point-in-time
Total Assets	`Assets`	$1.26B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$84.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$75.40M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$169.01M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$124.77M	USD	Point-in-time
Current portion of payable to related parties pursuant to tax receivable agreement	`Taxreceivableagreementpayablecurrent`	$25.38M	USD	Point-in-time
Current portion of payable to related parties pursuant to tax receivable agreement	`Taxreceivableagreementpayablecurrent`	$25.38M	USD	Point-in-time
Less current portion of long-term debt	`LongTermDebtCurrent`	$4.30M	USD	Point-in-time
Less current portion of long-term debt	`LongTermDebtCurrent`	$4.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$239.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$274.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$693.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.72M	USD	Point-in-time
Long-term portion of payable to related parties pursuant to tax receivable agreement	`Taxreceivableagreementpayablenoncurrent`	$54.34M	USD	Point-in-time
Long-term portion of payable to related parties pursuant to tax receivable agreement	`Taxreceivableagreementpayablenoncurrent`	$54.34M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$84.10M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$86.39M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$868.34M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$836.09M	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, 68,407,259 and 68,269,749 issued and outstanding, respectively	`CommonStockValue`	$684.00K	USD	Point-in-time
Common stock $0.01 par, 250,000,000 shares authorized, 68,407,259 and 68,269,749 issued and outstanding, respectively	`CommonStockValue`	$683.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$751.45M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$753.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-714.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-717.05M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-33.27M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-33.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.11M	USD	Point-in-time
Total Liabilities and Stockholder's Deficit	`LiabilitiesAndStockholdersEquity`	$1.26B	USD	Point-in-time
Total Liabilities and Stockholder's Deficit	`LiabilitiesAndStockholdersEquity`	$1.25B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$430.01M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$408.61M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$340.49M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$321.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$86.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$89.53M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$70.73M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$72.36M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.39M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$5.34M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$77.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$77.70M	USD	1 Quarter
Operating earnings	`OperatingIncomeLoss`	$11.83M	USD	1 Quarter
Operating earnings	`OperatingIncomeLoss`	$9.58M	USD	1 Quarter
Foreign currency (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$155.00K	USD	1 Quarter
Foreign currency (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$584.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$16.89M	USD	1 Quarter
Interest expense	`InterestExpense`	$18.69M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.00K	USD	1 Quarter
Gains (Losses) on Extinguishment of Debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gains (Losses) on Extinguishment of Debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.40M	USD	1 Quarter
Tax receivable agreement liability adjustment	`Taxreceivableagreementadjustment`	-	USD	1 Quarter
Tax receivable agreement liability adjustment	`Taxreceivableagreementadjustment`	$18.15M	USD	1 Quarter
Income (Loss) before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-29.07M	USD	1 Quarter
Income (Loss) before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.89M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-1.49M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-1.25M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.64M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-27.58M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-3.62M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-24.52M	USD	1 Quarter
Basic and diluted net loss per share attributable to common shareholders	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted net loss per share attributable to common shareholders	`EarningsPerShareBasicAndDiluted`	$-0.40	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	68.13M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	68.40M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-3.64M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-27.58M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$14.03M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$13.45M	USD	1 Quarter
Restructuring Costs	`RestructuringCosts`	$904.00K	USD	1 Quarter
Restructuring Costs	`RestructuringCosts`	$566.00K	USD	1 Quarter
Non-cash interest expense, net	`AmortizationOfFinancingCostsAndDiscounts`	$3.48M	USD	1 Quarter
Non-cash interest expense, net	`AmortizationOfFinancingCostsAndDiscounts`	$3.42M	USD	1 Quarter
Gain on foreign currency transactions	`ForeignCurrencyTransactionGainLossRealized`	$155.00K	USD	1 Quarter
Gain on foreign currency transactions	`ForeignCurrencyTransactionGainLossRealized`	$584.00K	USD	1 Quarter
Gains (Losses) on Extinguishment of Debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gains (Losses) on Extinguishment of Debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.40M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$337.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$259.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.17M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$65.00K	USD	1 Quarter
Tax receivable agreement liability adjustment	`Taxreceivableagreementadjustment`	-	USD	1 Quarter
Tax receivable agreement liability adjustment	`Taxreceivableagreementadjustment`	$18.15M	USD	1 Quarter
Increase (reduction) in tax uncertainty, net of valuation allowance	`IncreaseDecreaseInLiabilityForUncertainTaxPositions`	$-144.00K	USD	1 Quarter
Increase (reduction) in tax uncertainty, net of valuation allowance	`IncreaseDecreaseInLiabilityForUncertainTaxPositions`	$62.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$138.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$32.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-9.13M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-5.84M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-10.98M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-23.42M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-255.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.12M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-875.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.41M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-37.77M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-43.99M	USD	1 Quarter
Cash payments on restructuring liabilities	`IncreaseDecreaseInRestructuringReserve`	$-668.00K	USD	1 Quarter
Cash payments on restructuring liabilities	`IncreaseDecreaseInRestructuringReserve`	$-23.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$82.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$137.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-48.55M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-50.64M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$7.73M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$8.42M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$72.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$76.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.66M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.35M	USD	1 Quarter
Net revolver borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$10.00M	USD	1 Quarter
Net revolver borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$30.00M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$1.07M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$31.07M	USD	1 Quarter
Payments Related to Tax Withholding for Share-based Compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.19M	USD	1 Quarter
Payments Related to Tax Withholding for Share-based Compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Proceeds from Stock Options Exercised	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from Stock Options Exercised	`ProceedsFromStockOptionsExercised`	$103.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.07M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$27.84M	USD	1 Quarter
Impact of exchange rate movements on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.19M	USD	1 Quarter
Impact of exchange rate movements on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$205.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-30.94M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-75.08M	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$34.34M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$51.60M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$109.42M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$20.66M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$34.34M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$51.60M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$109.42M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$20.66M	USD	Point-in-time

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