10-Q Filing

MANITOWOC CO INC CIK: 61986 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-011618`
Period End Date	20180331
Filing Date	20180508
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	mtw-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 39 Cash Flow Statement 54 Comprehensive Income 15

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.60M	USD	Point-in-time
Accounts Receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.90M	USD	Point-in-time
Preferred stock authorized (in shares)	`PreferredStockSharesAuthorized`	3.50M	shares	Point-in-time
Preferred stock authorized (in shares)	`PreferredStockSharesAuthorized`	3.50M	shares	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$123.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.10M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$73.90M	USD	Point-in-time
Par value of preferred stock per share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Par value of preferred stock per share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, less allowances of $10.6 and $10.9, respectively	`AccountsReceivableNetCurrent`	$179.20M	USD	Point-in-time
Preferred stock outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, less allowances of $10.6 and $10.9, respectively	`AccountsReceivableNetCurrent`	$168.60M	USD	Point-in-time
Preferred stock outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories net	`InventoryNet`	$471.50M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventories net	`InventoryNet`	$400.60M	USD	Point-in-time
Notes receivable net	`NotesAndLoansReceivableNetCurrent`	$28.90M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	40.79M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	40.79M	shares	Point-in-time
Notes receivable net	`NotesAndLoansReceivableNetCurrent`	$31.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.60M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$56.50M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	35.27M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	35.52M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$818.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$790.40M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	5.52M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	5.27M	shares	Point-in-time
Property, plant and equipment net	`PropertyPlantAndEquipmentNet`	$306.10M	USD	Point-in-time
Property, plant and equipment net	`PropertyPlantAndEquipmentNet`	$303.70M	USD	Point-in-time
Goodwill	`Goodwill`	$321.30M	USD	Point-in-time
Goodwill	`Goodwill`	$323.90M	USD	Point-in-time
Other intangible assets net	`IntangibleAssetsNetExcludingGoodwill`	$123.70M	USD	Point-in-time
Other intangible assets net	`IntangibleAssetsNetExcludingGoodwill`	$122.10M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$72.20M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$70.30M	USD	Point-in-time
Total assets	`Assets`	$1.61B	USD	Point-in-time
Total assets	`Assets`	$1.64B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$375.80M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$403.10M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt	`DebtCurrent`	$8.20M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt	`DebtCurrent`	$7.60M	USD	Point-in-time
Product warranties	`ProductWarrantyAccrualClassifiedCurrent`	$35.50M	USD	Point-in-time
Product warranties	`ProductWarrantyAccrualClassifiedCurrent`	$36.80M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$14.40M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$12.70M	USD	Point-in-time
Product liabilities	`LossContingencyAccrualProductLiabilityNet`	$22.40M	USD	Point-in-time
Product liabilities	`LossContingencyAccrualProductLiabilityNet`	$20.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$484.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$453.00M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$266.70M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$266.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$13.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.00M	USD	Point-in-time
Pension obligations	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$88.00M	USD	Point-in-time
Pension obligations	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$88.90M	USD	Point-in-time
Postretirement health and other benefit obligations	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$25.50M	USD	Point-in-time
Postretirement health and other benefit obligations	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$25.10M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$22.10M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$20.80M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$60.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$62.40M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$477.30M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$476.30M	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock (authorized 3,500,000 shares of $.01 par value; none outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock (authorized 3,500,000 shares of $.01 par value; none outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Common stock (75,000,000 shares authorized, 40,793,983 shares issued, 35,519,082 and 35,273,864 shares outstanding, respectively)	`CommonStockValue`	$1.40M	USD	Point-in-time
Common stock (75,000,000 shares authorized, 40,793,983 shares issued, 35,519,082 and 35,273,864 shares outstanding, respectively)	`CommonStockValue`	$1.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$576.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$578.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-85.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-97.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$256.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$246.70M	USD	Point-in-time
Treasury stock, at cost (5,274,901 and 5,520,119 shares, respectively)	`TreasuryStockValue`	$59.80M	USD	Point-in-time
Treasury stock, at cost (5,274,901 and 5,520,119 shares, respectively)	`TreasuryStockValue`	$57.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$683.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$677.50M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.61B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.64B	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$386.10M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$305.80M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$253.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$317.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$51.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$68.40M	USD	1 Quarter
Engineering, selling and administrative expenses	`EngineeringSellingAndAdministrativeExpense`	$60.40M	USD	1 Quarter
Engineering, selling and administrative expenses	`EngineeringSellingAndAdministrativeExpense`	$61.40M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$400.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$100.00K	USD	1 Quarter
Restructuring expense	`RestructuringCharges`	$6.20M	USD	1 Quarter
Restructuring expense	`RestructuringCharges`	$11.70M	USD	1 Quarter
Other operating (income) expense - net	`OtherOperatingIncomeExpenseNet`	$-200.00K	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$73.70M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$66.70M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-21.80M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$1.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$10.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$10.10M	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$500.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$500.00K	USD	1 Quarter
Other income (expense) - net	`OtherNonoperatingIncomeExpense`	$2.70M	USD	1 Quarter
Other income (expense) - net	`OtherNonoperatingIncomeExpense`	$-2.10M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-12.70M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-7.80M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.10M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-34.50M	USD	1 Quarter
Provision for taxes on income	`IncomeTaxExpenseBenefit`	$3.90M	USD	1 Quarter
Provision for taxes on income	`IncomeTaxExpenseBenefit`	$1.50M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-36.00M	USD	1 Quarter
Basic income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-1.03	USD	1 Quarter
Basic income (loss) per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.28	USD	1 Quarter
Diluted income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.28	USD	1 Quarter
Diluted income (loss) per common share (in dollars per share)	`EarningsPerShareDiluted`	$-1.03	USD	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.02M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.37M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.37M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.02M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-36.00M	USD	1 Quarter
Depreciation	`Depreciation`	$9.10M	USD	1 Quarter
Depreciation	`Depreciation`	$10.60M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$400.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$100.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$500.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$500.00K	USD	1 Quarter
(Gain) loss on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$1.30M	USD	1 Quarter
(Gain) loss on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$800.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-7.50M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-3.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$135.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$78.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$71.50M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$33.30M	USD	1 Quarter
Notes receivable	`IncreaseDecreaseInNotesReceivableCurrent`	$-5.70M	USD	1 Quarter
Notes receivable	`IncreaseDecreaseInNotesReceivableCurrent`	$-4.10M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-700.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-8.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$37.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$46.60M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-27.00M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-23.20M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-109.30M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-173.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.80M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.40M	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.70M	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$6.30M	USD	1 Quarter
Cash receipts on sold accounts receivable	`ProceedsFromSaleOfFinanceReceivables`	$148.60M	USD	1 Quarter
Cash receipts on sold accounts receivable	`ProceedsFromSaleOfFinanceReceivables`	$76.80M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$148.50M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$74.70M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$3.30M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$2.10M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.00M	USD	1 Quarter
Payments on notes financing - net	`ProceedsFromRepaymentsOfNotesPayable`	$-2.20M	USD	1 Quarter
Exercises of stock options	`ProceedsFromStockOptionsExercised`	$2.70M	USD	1 Quarter
Exercises of stock options	`ProceedsFromStockOptionsExercised`	$1.30M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-800.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-800.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.70M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$600.00K	USD	1 Quarter
Net decrease in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-34.80M	USD	1 Quarter
Net decrease in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-23.60M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$123.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.10M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$73.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$123.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.10M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$73.90M	USD	Point-in-time

Comprehensive Income 15 line items

Line Item	Tag	Value	Unit	Period
Unrealized income on derivatives, net of income taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-36.00M	USD	1 Quarter
Unrealized income on derivatives, net of income taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax`	-	USD	1 Quarter
Employee pension and post retirement benefits, net of income taxes of	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$-100.00K	USD	1 Quarter
Employee pension and post retirement benefits, net of income taxes of	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$-400.00K	USD	1 Quarter
Unrealized income on derivatives, net of income tax provision of $0.0 and $0.0, respectively	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$500.00K	USD	1 Quarter
Employee pension and postretirement benefits, net of income tax provision of $0.1 and $0.4, respectively	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-700.00K	USD	1 Quarter
Employee pension and postretirement benefits, net of income tax provision of $0.1 and $0.4, respectively	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-600.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$11.40M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$10.10M	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$11.20M	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$12.10M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-24.80M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$2.10M	USD	1 Quarter

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