10-Q Filing

ZURN ELKAY WATER SOLUTIONS CORP CIK: 1439288 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001439288-17-000097`
Period End Date	20170630
Filing Date	20170802
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	rxn-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 38 Cash Flow Statement 56 Comprehensive Income 12

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$490.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$484.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$516.20M	USD	Point-in-time
Receivables, net	`AccountsReceivableNetCurrent`	$322.90M	USD	Point-in-time
Receivables, net	`AccountsReceivableNetCurrent`	$312.70M	USD	Point-in-time
Inventories	`InventoryNet`	$345.50M	USD	Point-in-time
Inventories	`InventoryNet`	$314.90M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$51.90M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$50.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.23B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.18B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$400.90M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$397.90M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$553.50M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$558.60M	USD	Point-in-time
Goodwill	`Goodwill`	$1.32B	USD	Point-in-time
Goodwill	`Goodwill`	$1.32B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$83.50M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$83.30M	USD	Point-in-time
Total assets	`Assets`	$3.58B	USD	Point-in-time
Total assets	`Assets`	$3.54B	USD	Point-in-time
Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Current maturities of debt	`LongTermDebtCurrent`	$16.50M	USD	Point-in-time
Shares issued (in shares)	`CommonStockSharesIssued`	103.74M	shares	Point-in-time
Shares issued (in shares)	`CommonStockSharesIssued`	103.60M	shares	Point-in-time
Current maturities of debt	`LongTermDebtCurrent`	$16.30M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$208.70M	USD	Point-in-time
Shares outstanding (in shares)	`CommonStockSharesOutstanding`	103.60M	shares	Point-in-time
Trade payables	`AccountsPayableCurrent`	$197.80M	USD	Point-in-time
Shares outstanding (in shares)	`CommonStockSharesOutstanding`	103.74M	shares	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$44.30M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$54.30M	USD	Point-in-time
Current portion of pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$4.30M	USD	Point-in-time
Current portion of pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$4.30M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$131.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$127.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$405.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$400.30M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.61B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.60B	USD	Point-in-time
Pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$174.40M	USD	Point-in-time
Pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$174.20M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$207.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$208.80M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$79.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$78.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.47B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.47B	USD	Point-in-time
Common stock, $0.01 par value; 200,000,000 shares authorized; shares issued and outstanding: 103,737,290 at June 30, 2017 and 103,600,540 at March 31, 2017	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock, $0.01 par value; 200,000,000 shares authorized; shares issued and outstanding: 103,737,290 at June 30, 2017 and 103,600,540 at March 31, 2017	`CommonStockValue`	$1.00M	USD	Point-in-time
Preferred stock, $0.01 par value; 10,000,000 shares authorized; shares of 5.75% Series A Mandatory Convertible Preferred Stock issued and outstanding: 402,500 at June 30, 2017 and March 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value; 10,000,000 shares authorized; shares of 5.75% Series A Mandatory Convertible Preferred Stock issued and outstanding: 402,500 at June 30, 2017 and March 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.26B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.26B	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-29.00M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-55.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-118.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-137.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.12B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.07B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.54B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.58B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$487.70M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$471.80M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$311.70M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$306.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$165.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$176.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$109.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$106.60M	USD	1 Quarter
Restructuring and other similar charges	`RestructuringCharges`	$2.70M	USD	1 Quarter
Restructuring and other similar charges	`RestructuringCharges`	$5.60M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$14.60M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$8.20M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$55.20M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$38.60M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$20.00M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$23.70M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.90M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-500.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$34.70M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-5.90M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$8.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.50M	USD	1 Quarter
Dividends on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$5.80M	USD	1 Quarter
Dividends on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Net income attributable to Rexnord common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$18.90M	USD	1 Quarter
Net income attributable to Rexnord common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$20.70M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	101.69M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	103.69M	shares	1 Quarter
Effect of dilutive equity awards (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	2.49M	shares	1 Quarter
Effect of dilutive equity awards (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	1.54M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	104.18M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	105.23M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$26.50M	USD	1 Quarter
Net income	`ProfitLoss`	$18.90M	USD	1 Quarter
Depreciation	`Depreciation`	$14.30M	USD	1 Quarter
Depreciation	`Depreciation`	$14.40M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$14.60M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$8.20M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$700.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$600.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$2.20M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$10.30M	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$-3.50M	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$-1.70M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.40M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.30M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-13.60M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-8.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$17.40M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$28.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$600.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-16.40M	USD	1 Quarter
Accruals and other	`IncreaseDecreaseInAccruedLiabilities`	$-6.30M	USD	1 Quarter
Accruals and other	`IncreaseDecreaseInAccruedLiabilities`	$-1.90M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$37.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.60M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.00M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.90M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$214.40M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Proceeds from dispositions of long-lived assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$900.00K	USD	1 Quarter
Proceeds from dispositions of long-lived assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$200.00K	USD	1 Quarter
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-225.50M	USD	1 Quarter
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.70M	USD	1 Quarter
Repayments of debt	`RepaymentsOfLongTermDebt`	$99.90M	USD	1 Quarter
Repayments of debt	`RepaymentsOfLongTermDebt`	$4.20M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.10M	USD	1 Quarter
Deferred acquisition payment	`PaymentsforPreviousAcquisitionDeferred`	-	USD	1 Quarter
Deferred acquisition payment	`PaymentsforPreviousAcquisitionDeferred`	$300.00K	USD	1 Quarter
Payments of dividend on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Payments of dividend on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$5.80M	USD	1 Quarter
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-94.10M	USD	1 Quarter
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$4.80M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.40M	USD	1 Quarter
Increase (Decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.10M	USD	1 Quarter
Increase (Decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-301.40M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$490.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$484.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$516.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$183.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$490.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$484.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$516.20M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to Rexnord	`NetIncomeLoss`	$18.90M	USD	1 Quarter
Net income attributable to Rexnord	`NetIncomeLoss`	$26.50M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$17.40M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.80M	USD	1 Quarter
Net change in unrealized losses on interest rate derivatives, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$1.20M	USD	1 Quarter
Net change in unrealized losses on interest rate derivatives, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$300.00K	USD	1 Quarter
Change in pension and postretirement defined benefit plans, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$300.00K	USD	1 Quarter
Change in pension and postretirement defined benefit plans, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$300.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$18.30M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-4.80M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$44.80M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$14.10M	USD	1 Quarter

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