10-Q Filing

LSB INDUSTRIES, INC. CIK: 60714 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-017840`
Period End Date	20220331
Filing Date	20220504
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	lxu-10q_20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 29 Cash Flow Statement 51 Stockholders Equity 16

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
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`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.20M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$254.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.20M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.26M	USD	Point-in-time
Treasury stock, common shares	`TreasuryStockCommonShares`	1.40M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$89.31M	USD	Point-in-time
Treasury stock, common shares	`TreasuryStockCommonShares`	1.60M	shares	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$97.52M	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$86.90M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$463.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$474.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$97.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$86.43M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$25.81M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$14.69M	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$1.59M	USD	Point-in-time
Raw materials	`InventoryRawMaterialsNetOfReserves`	$1.90M	USD	Point-in-time
Total inventories	`InventoryNet`	$27.40M	USD	Point-in-time
Total inventories	`InventoryNet`	$16.58M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$14.24M	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$10.56M	USD	Point-in-time
Precious metals	`PreciousMetals`	$13.95M	USD	Point-in-time
Precious metals	`PreciousMetals`	$14.95M	USD	Point-in-time
Supplies	`Supplies`	$27.07M	USD	Point-in-time
Supplies	`Supplies`	$26.56M	USD	Point-in-time
Other	`OtherPrepaidExpenseCurrent`	$2.23M	USD	Point-in-time
Other	`OtherPrepaidExpenseCurrent`	$9.80M	USD	Point-in-time
Total supplies, prepaid items and other	`SuppliesPrepaidItemsAndOther`	$61.37M	USD	Point-in-time
Total supplies, prepaid items and other	`SuppliesPrepaidItemsAndOther`	$57.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$529.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$243.14M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$858.48M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$850.37M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$24.83M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$27.32M	USD	Point-in-time
Intangible and other assets, net	`IntangiblesAndOtherAssetsNet`	$3.56M	USD	Point-in-time
Intangible and other assets, net	`IntangiblesAndOtherAssetsNet`	$3.91M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$28.38M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$31.22M	USD	Point-in-time
Total assets	`Assets`	$1.13B	USD	Point-in-time
Total assets	`Assets`	$1.41B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$49.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$60.65M	USD	Point-in-time
Short-term financing	`ShortTermBorrowings`	$9.91M	USD	Point-in-time
Short-term financing	`ShortTermBorrowings`	$12.72M	USD	Point-in-time
Accrued and other liabilities	`AccruedAndOtherLiabilitiesCurrent`	$33.30M	USD	Point-in-time
Accrued and other liabilities	`AccruedAndOtherLiabilitiesCurrent`	$44.91M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$9.45M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$8.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$104.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$123.58M	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$518.19M	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$708.40M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$19.57M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$17.54M	USD	Point-in-time
Other noncurrent accrued and other liabilities	`AccruedAndOtherLiabilitiesNoncurrent`	$3.02M	USD	Point-in-time
Other noncurrent accrued and other liabilities	`AccruedAndOtherLiabilitiesNoncurrent`	$3.03M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$37.45M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$26.63M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.10 par value; 150 million shares authorized, 91.2 million shares issued	`CommonStockValue`	$9.12M	USD	Point-in-time
Common stock, $.10 par value; 150 million shares authorized, 91.2 million shares issued	`CommonStockValue`	$9.12M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$493.96M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$493.16M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-31.25M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$27.51M	USD	Point-in-time
Stockholders equity including treasury stock	`StockholdersEquityBeforeTreasuryStock`	$471.02M	USD	Point-in-time
Stockholders equity including treasury stock	`StockholdersEquityBeforeTreasuryStock`	$530.59M	USD	Point-in-time
Common stock, 1.6 million shares (1.4 million shares at December 31, 2021)	`TreasuryStockValue`	$12.40M	USD	Point-in-time
Common stock, 1.6 million shares (1.4 million shares at December 31, 2021)	`TreasuryStockValue`	$10.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$127.04M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$460.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$518.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$149.64M	USD	Point-in-time
Total Liabilities and Stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.13B	USD	Point-in-time
Total Liabilities and Stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.41B	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$198.98M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$98.12M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$90.06M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$108.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$90.73M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$8.79M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$10.94M	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$176.00K	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$263.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-470.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$79.97M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$9.96M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$12.37M	USD	1 Quarter
Non-operating other expense, net	`OtherNonoperatingIncomeExpense`	$-135.00K	USD	1 Quarter
Non-operating other expense, net	`OtherNonoperatingIncomeExpense`	$-395.00K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$69.88M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.24M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.12M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$42.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-13.28M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$58.77M	USD	1 Quarter
Dividends on convertible preferred stocks	`DividendsPreferredStockCash`	$75.00K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$58.77M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-23.38M	USD	1 Quarter
Net income (loss)	`EarningsPerShareBasic`	$-0.63	USD	1 Quarter
Net income (loss)	`EarningsPerShareBasic`	$0.66	USD	1 Quarter
Net income (loss)	`EarningsPerShareDiluted`	$-0.63	USD	1 Quarter
Net income (loss)	`EarningsPerShareDiluted`	$0.65	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-13.28M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$58.77M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$10.82M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$327.00K	USD	1 Quarter
Depreciation and amortization of property, plant and equipment	`DepreciationDepletionAndAmortization`	$17.20M	USD	1 Quarter
Depreciation and amortization of property, plant and equipment	`DepreciationDepletionAndAmortization`	$16.76M	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAndOtherAssets`	$311.00K	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangibleAndOtherAssets`	$315.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$1.06M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-1.44M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$17.32M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.71M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-625.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$10.82M	USD	1 Quarter
Prepaid insurance	`IncreaseDecreaseInPrepaidInsurance`	$-3.69M	USD	1 Quarter
Prepaid insurance	`IncreaseDecreaseInPrepaidInsurance`	$-2.27M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.60M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.00M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$10.41M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$13.62M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-7.83M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$5.07M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.49M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.71M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.25M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.13M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$89.31M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-51.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-198.00K	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.93M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-97.51M	USD	1 Quarter
Net proceeds from 6.25% senior secured notes	`ProceedsFromSecuredNotesPayable`	$200.00M	USD	1 Quarter
Payments on other long-term debt	`RepaymentsOfOtherLongTermDebt`	$3.35M	USD	1 Quarter
Payments on other long-term debt	`RepaymentsOfOtherLongTermDebt`	$6.91M	USD	1 Quarter
Payments on short-term financing	`RepaymentsOfShortTermDebt`	$5.42M	USD	1 Quarter
Payments on short-term financing	`RepaymentsOfShortTermDebt`	$2.81M	USD	1 Quarter
Payments of debt-related costs, including extinguishment costs	`PaymentsOfDebtRelatedCosts`	$4.10M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-36.00K	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$184.18M	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.81M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$172.16M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.03M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$254.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.26M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$254.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.23M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.26M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$127.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$460.49M	USD	Point-in-time
Balance	`StockholdersEquity`	$518.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$149.64M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-13.28M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$58.77M	USD	1 Quarter
Dividend accrued on redeemable preferred stock	`TemporaryEquityAccretionOfDividends`	$9.51M	USD	1 Quarter
Accretion of redeemable preferred stock	`TemporaryEquityAccretionToRedemptionValue`	$511.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$803.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$713.00K	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOtherNet`	$-1.87M	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOtherNet`	$-18.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$127.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$460.49M	USD	Point-in-time
Balance	`StockholdersEquity`	$518.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$149.64M	USD	Point-in-time

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