10-Q Filing

LSB INDUSTRIES, INC. CIK: 60714 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-022839`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	lxu-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 28 Cash Flow Statement 52 Stockholders Equity 18

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.70M	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$51.06M	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$40.20M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$328.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$261.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$50.73M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$39.94M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$24.63M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$21.74M	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$1.57M	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$1.67M	USD	Point-in-time
Total inventories	`InventoryNet`	$26.30M	USD	Point-in-time
Total inventories	`InventoryNet`	$23.31M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$11.84M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$8.72M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Supplies	`Supplies`	$24.69M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Supplies	`Supplies`	$25.16M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.28M	shares	Point-in-time
Other	`OtherPrepaidExpenseCurrent`	$8.30M	USD	Point-in-time
Other	`OtherPrepaidExpenseCurrent`	$8.83M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.28M	shares	Point-in-time
Treasury stock, common shares	`TreasuryStockCommonShares`	1.98M	shares	Point-in-time
Treasury stock, common shares	`TreasuryStockCommonShares`	2.01M	shares	Point-in-time
Total supplies, prepaid items and other	`SuppliesPrepaidItemsAndOther`	$42.72M	USD	Point-in-time
Total supplies, prepaid items and other	`SuppliesPrepaidItemsAndOther`	$44.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$130.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$157.24M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$928.39M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$936.47M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$19.15M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$15.33M	USD	Point-in-time
Intangible and other assets, net	`IntangiblesAndOtherAssetsNet`	$5.37M	USD	Point-in-time
Intangible and other assets, net	`IntangiblesAndOtherAssetsNet`	$5.81M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$21.14M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$24.52M	USD	Point-in-time
Total assets	`Assets`	$1.11B	USD	Point-in-time
Total assets	`Assets`	$1.09B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$54.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$58.48M	USD	Point-in-time
Short-term financing	`ShortTermBorrowings`	$9.93M	USD	Point-in-time
Short-term financing	`ShortTermBorrowings`	$6.89M	USD	Point-in-time
Accrued and other liabilities	`AccruedAndOtherLiabilitiesCurrent`	$40.54M	USD	Point-in-time
Accrued and other liabilities	`AccruedAndOtherLiabilitiesCurrent`	$25.48M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$9.66M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$9.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$103.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$111.11M	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$480.84M	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$449.63M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$11.40M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$14.51M	USD	Point-in-time
Other noncurrent accrued and other liabilities	`AccruedAndOtherLiabilitiesNoncurrent`	$6.21M	USD	Point-in-time
Other noncurrent accrued and other liabilities	`AccruedAndOtherLiabilitiesNoncurrent`	$5.15M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$35.34M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$35.72M	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.10 par value; 75,000,000 shares authorized, 31,283,210 shares issued	`CommonStockValue`	$3.13M	USD	Point-in-time
Common stock, $.10 par value; 75,000,000 shares authorized, 31,283,210 shares issued	`CommonStockValue`	$3.13M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$196.83M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$196.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$29.37M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$57.63M	USD	Point-in-time
Stockholders equity including treasury stock	`StockholdersEquityBeforeTreasuryStock`	$232.47M	USD	Point-in-time
Stockholders equity including treasury stock	`StockholdersEquityBeforeTreasuryStock`	$260.59M	USD	Point-in-time
Common stock, 1,979,994 shares (2,009,566 shares at December 31, 2019)	`TreasuryStockValue`	$13.27M	USD	Point-in-time
Common stock, 1,979,994 shares (2,009,566 shares at December 31, 2019)	`TreasuryStockValue`	$12.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$342.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$219.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$247.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$322.83M	USD	Point-in-time
Total Liabilities and Stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.09B	USD	Point-in-time
Total Liabilities and Stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.11B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$94.15M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$83.41M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$80.86M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$86.83M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.55M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$10.01M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$7.22M	USD	1 Quarter
Other expense (income), net	`OtherOperatingIncomeExpenseNet`	$468.00K	USD	1 Quarter
Other expense (income), net	`OtherOperatingIncomeExpenseNet`	$-23.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$71.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-6.99M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$10.99M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$13.48M	USD	1 Quarter
Non-operating other expense (income), net	`OtherNonoperatingIncomeExpense`	$675.00K	USD	1 Quarter
Non-operating other expense (income), net	`OtherNonoperatingIncomeExpense`	$-224.00K	USD	1 Quarter
Loss before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.14M	USD	1 Quarter
Loss before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-19.79M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$400.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-339.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.45M	USD	1 Quarter
Dividends on convertible preferred stocks	`DividendsPreferredStockCash`	$75.00K	USD	1 Quarter
Dividends on convertible preferred stocks	`DividendsPreferredStockCash`	$75.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-19.37M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-28.34M	USD	1 Quarter
Basic and dilutive net loss per common share	`EarningsPerShareBasicAndDiluted`	$-1.01	USD	1 Quarter
Basic and dilutive net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.69	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-11.54M	USD	1 Quarter
Net loss	`ProfitLoss`	$-19.45M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$445.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-374.00K	USD	1 Quarter
Depreciation and amortization of property, plant and equipment	`DepreciationDepletionAndAmortization`	$17.59M	USD	1 Quarter
Depreciation and amortization of property, plant and equipment	`DepreciationDepletionAndAmortization`	$16.83M	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAndOtherAssets`	$313.00K	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAndOtherAssets`	$315.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.37M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-2.10M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.54M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.51M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.39M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.00M	USD	1 Quarter
Prepaid insurance	`IncreaseDecreaseInPrepaidInsurance`	$-3.12M	USD	1 Quarter
Prepaid insurance	`IncreaseDecreaseInPrepaidInsurance`	$-2.99M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.48M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.17M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$11.80M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$9.66M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.40M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.87M	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.18M	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.06M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.74M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.12M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-179.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-9.00K	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.56M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.11M	USD	1 Quarter
Proceeds from revolving debt facility	`ProceedsFromLongTermLinesOfCredit`	$30.00M	USD	1 Quarter
Proceeds from other long-term debt	`ProceedsFromIssuanceOfOtherLongTermDebt`	$2.57M	USD	1 Quarter
Proceeds from other long-term debt	`ProceedsFromIssuanceOfOtherLongTermDebt`	$795.00K	USD	1 Quarter
Payments on other long-term debt	`RepaymentsOfOtherLongTermDebt`	$2.04M	USD	1 Quarter
Payments on other long-term debt	`RepaymentsOfOtherLongTermDebt`	$1.61M	USD	1 Quarter
Payments on short-term financing	`RepaymentsOfShortTermDebt`	$3.04M	USD	1 Quarter
Payments on short-term financing	`RepaymentsOfShortTermDebt`	$2.71M	USD	1 Quarter
Taxes paid on equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$690.00K	USD	1 Quarter
Taxes paid on equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$64.00K	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-79.00K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$27.43M	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.30M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.34M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$14.69M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.79M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.05M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$37.48M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.70M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$342.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$219.50M	USD	Point-in-time
Balance	`StockholdersEquity`	$247.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$322.83M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-11.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.45M	USD	1 Quarter
Dividend accrued on redeemable preferred stock	`TemporaryEquityAccretionOfDividends`	$8.31M	USD	1 Quarter
Dividend accrued on redeemable preferred stock	`TemporaryEquityAccretionOfDividends`	$7.26M	USD	1 Quarter
Accretion of redeemable preferred stock	`TemporaryEquityAccretionToRedemptionValue`	$504.00K	USD	1 Quarter
Accretion of redeemable preferred stock	`TemporaryEquityAccretionToRedemptionValue`	$496.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$495.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$612.00K	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$-64.00K	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$-690.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$342.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$219.50M	USD	Point-in-time
Balance	`StockholdersEquity`	$247.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$322.83M	USD	Point-in-time

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