10-Q Filing

Ranpak Holdings Corp. CIK: 1712463 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-025571`
Period End Date	20210331
Filing Date	20210507
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	pack-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 50 Cash Flow Statement 56 Stockholders Equity 22

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	426.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$41.60M	USD	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	75.52M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$39.10M	USD	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	75.85M	shares	Point-in-time
Inventories, net	`InventoryNet`	$16.10M	USD	Point-in-time
Inventories, net	`InventoryNet`	$21.00M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$100.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.30M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$107.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$108.80M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$124.40M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$121.10M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$6.60M	USD	Point-in-time
Goodwill	`Goodwill`	$458.40M	USD	Point-in-time
Goodwill	`Goodwill`	$453.60M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$440.60M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$429.20M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.90M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.80M	USD	Point-in-time
Total assets	`Assets`	$1.13B	USD	Point-in-time
Total assets	`Assets`	$1.13B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$24.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.70M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$23.60M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$30.70M	USD	Point-in-time
Current portion of long-term debt	`CurrentPortionOfLongTermDebtAndFinanceLeaseLiabilities`	$500.00K	USD	Point-in-time
Current portion of long-term debt	`CurrentPortionOfLongTermDebtAndFinanceLeaseLiabilities`	$1.00M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$2.10M	USD	Point-in-time
Deferred machine fee revenue	`ContractWithCustomerLiabilityCurrent`	$1.40M	USD	Point-in-time
Deferred machine fee revenue	`ContractWithCustomerLiabilityCurrent`	$2.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$55.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.50M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$427.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$432.70M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$107.70M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$109.60M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesNoncurrent`	$9.60M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesNoncurrent`	$6.90M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$4.40M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.20M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$900.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$602.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$610.60M	USD	Point-in-time
Commitments and contingencies Note 13	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies Note 13	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$565.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$564.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.50M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$10.70M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.30M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$523.80M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$522.90M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$518.60M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$531.80M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.13B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.13B	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Machine lease revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$8.50M	USD	1 Quarter
Machine lease revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$10.80M	USD	1 Quarter
Net revenue	`Revenues`	$87.70M	USD	1 Quarter
Net revenue	`Revenues`	$63.40M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$51.40M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$36.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$36.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$26.80M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$19.60M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$19.10M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$8.70M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$7.50M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-800.00K	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-300.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-600.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$7.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.60M	USD	1 Quarter
Foreign currency gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.50M	USD	1 Quarter
Foreign currency gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.60M	USD	1 Quarter
Income (loss) before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.30M	USD	1 Quarter
Income (loss) before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.70M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-600.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.70M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	73.56M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	70.86M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	76.25M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	70.86M	shares	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-8.40M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$9.50M	USD	Point-in-time
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-4.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$17.90M	USD	Point-in-time
Interest rate swap adjustments	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-7.30M	USD	Point-in-time
Interest rate swap adjustments	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-9.90M	USD	Point-in-time
Interest rate swap adjustments	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$-10.10M	USD	1 Quarter
Interest rate swap adjustments	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax`	$2.60M	USD	1 Quarter
Total other comprehensive loss, before tax	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-14.10M	USD	1 Quarter
Total other comprehensive loss, before tax	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-5.80M	USD	1 Quarter
Benefit from income taxes related to other comprehensive income (loss)	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-2.30M	USD	1 Quarter
Benefit from income taxes related to other comprehensive income (loss)	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$600.00K	USD	1 Quarter
Total other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-6.40M	USD	1 Quarter
Total other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-11.80M	USD	1 Quarter
Comprehensive loss, net of tax	`ComprehensiveIncomeNetOfTax`	$-100.00K	USD	1 Quarter
Comprehensive loss, net of tax	`ComprehensiveIncomeNetOfTax`	$-15.40M	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$6.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.50M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-300.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-200.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-1.40M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.70M	USD	1 Quarter
Amortization of initial value of hedging instrument	`AmortizationOfDeferredHedgeGains`	$-200.00K	USD	1 Quarter
Currency gain on foreign denominated debt and notes payable	`ForeignCurrencyTransactionGainLossUnrealized`	$1.60M	USD	1 Quarter
Currency gain on foreign denominated debt and notes payable	`ForeignCurrencyTransactionGainLossUnrealized`	$3.60M	USD	1 Quarter
Amortization of restricted stock units	`RestrictedStockExpense`	$2.20M	USD	1 Quarter
Amortization of restricted stock units	`RestrictedStockExpense`	$2.70M	USD	1 Quarter
(Increase) decrease in receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-6.10M	USD	1 Quarter
(Increase) decrease in receivables, net	`IncreaseDecreaseInAccountsReceivable`	$3.00M	USD	1 Quarter
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$2.10M	USD	1 Quarter
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$5.50M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-100.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.00M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.80M	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.70M	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-300.00K	USD	1 Quarter
Change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.90M	USD	1 Quarter
Change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.60M	USD	1 Quarter
Converter equipment	`PaymentsToAcquireMachineryAndEquipment`	$8.60M	USD	1 Quarter
Converter equipment	`PaymentsToAcquireMachineryAndEquipment`	$8.00M	USD	1 Quarter
Other capital expenditures	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$2.90M	USD	1 Quarter
Other capital expenditures	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$1.70M	USD	1 Quarter
Total capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.30M	USD	1 Quarter
Total capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.90M	USD	1 Quarter
Patent and trademark expenditures	`PaymentsToAcquireIntangibleAssets`	$300.00K	USD	1 Quarter
Patent and trademark expenditures	`PaymentsToAcquireIntangibleAssets`	$200.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.50M	USD	1 Quarter
Payments on term loans and credit facility	`RepaymentsOfLongTermDebt`	$400.00K	USD	1 Quarter
Payments on term loans and credit facility	`RepaymentsOfLongTermDebt`	$400.00K	USD	1 Quarter
Payments on finance lease liabilities	`FinanceLeasePrincipalPayments`	$200.00K	USD	1 Quarter
Exit payment	`ExitPayment`	$8.20M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-400.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.80M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-200.00K	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-500.00K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$500.00K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.00M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.50M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.70M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.50M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.20M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.50M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.70M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.50M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.20M	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$523.80M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$522.90M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$518.60M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$531.80M	USD	Point-in-time
Beginning Balance (Shares)	`CommonStockSharesOutstanding`	75.52M	shares	Point-in-time
Beginning Balance (Shares)	`CommonStockSharesOutstanding`	75.85M	shares	Point-in-time
Stock-based awards vested and distributed	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Stock-based awards vested and distributed	`StockIssuedDuringPeriodValueNewIssues`	$-1.70M	USD	1 Quarter
Issue Director shares	`DirectorStockIssuedDuringPeriodValue`	-	USD	1 Quarter
Issue Director shares	`DirectorStockIssuedDuringPeriodValue`	-	USD	1 Quarter
Amortization of restricted stock units	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$2.70M	USD	1 Quarter
Amortization of restricted stock units	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$2.20M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-6.40M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-11.80M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$523.80M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$522.90M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$518.60M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$531.80M	USD	Point-in-time
Ending Balance (Shares)	`CommonStockSharesOutstanding`	75.52M	shares	Point-in-time
Ending Balance (Shares)	`CommonStockSharesOutstanding`	75.85M	shares	Point-in-time

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