10-Q Filing

Ranpak Holdings Corp. CIK: 1712463 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001628280-20-007304`
Period End Date	20200331
Filing Date	20200511
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	ranpakq12020_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 36 Cash Flow Statement 54 Stockholders Equity 21

Balance Sheet 59 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`	$20.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.70M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$36.10M	USD	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	995.00	shares	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	70.86M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$29.50M	USD	Point-in-time
Inventories, net	`InventoryNet`	$11.60M	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.50M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$3.20M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$68.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$71.40M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$124.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$122.50M	USD	Point-in-time
Goodwill	`Goodwill`	$446.70M	USD	Point-in-time
Goodwill	`Goodwill`	$448.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$458.60M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$449.60M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.10M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.20M	USD	Point-in-time
Total Assets	`Assets`	$1.10B	USD	Point-in-time
Total Assets	`Assets`	$1.09B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.30M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$15.50M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$13.60M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.60M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.50M	USD	Point-in-time
Deferred machine fee revenue	`ContractWithCustomerLiabilityCurrent`	$800.00K	USD	Point-in-time
Deferred machine fee revenue	`ContractWithCustomerLiabilityCurrent`	$2.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.90M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$418.80M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$415.50M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$113.90M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$115.00M	USD	Point-in-time
Capital lease obligations	`FinanceLeaseLiabilityNoncurrent`	$14.70M	USD	Point-in-time
Capital lease obligations	`FinanceLeaseLiabilityNoncurrent`	$4.60M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.30M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$700.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$572.60M	USD	Point-in-time
Total Liabilities	`Liabilities`	$573.70M	USD	Point-in-time
Commitments and Contingencies Note 7	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies Note 7	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$557.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$559.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-29.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.70M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.40M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.40M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$531.80M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$196.40M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$189.60M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$518.60M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.09B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.10B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Machine lease revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$9.00M	USD	1 Quarter
Machine lease revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$8.50M	USD	1 Quarter
Net sales	`Revenues`	$66.10M	USD	1 Quarter
Net sales	`Revenues`	$63.40M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$36.60M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$37.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$28.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$26.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.30M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$19.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.70M	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-300.00K	USD	1 Quarter
Other operating expense, net	`OtherOperatingIncomeExpenseNet`	$-1.00M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$2.20M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-600.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$8.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.20M	USD	1 Quarter
Foreign currency gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.90M	USD	1 Quarter
Foreign currency gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.50M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.30M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.00M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.70M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-600.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-3.40M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.40M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.00M	USD	1 Quarter
Interest rate swap adjustments	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-7.80M	USD	1 Quarter
Interest rate swap adjustments	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-6.80M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-15.40M	USD	1 Quarter
Net (loss) income per share (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Net (loss) income per share (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-3.39K	USD	1 Quarter
Weighted-average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	70.86M	shares	1 Quarter
Weighted-average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	995.00	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.10M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$600.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-200.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-300.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.70M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.10M	USD	1 Quarter
Currency (gain) on foreign denominated debt and notes payable	`ForeignCurrencyTransactionGainBeforeTax`	$1.60M	USD	1 Quarter
Currency (gain) on foreign denominated debt and notes payable	`ForeignCurrencyTransactionGainBeforeTax`	$2.10M	USD	1 Quarter
Amortization of restricted stock units	`RestrictedStockExpense`	-	USD	1 Quarter
Amortization of restricted stock units	`RestrictedStockExpense`	$2.20M	USD	1 Quarter
Decrease in receivables, net	`IncreaseDecreaseInReceivables`	$-6.10M	USD	1 Quarter
Decrease in receivables, net	`IncreaseDecreaseInReceivables`	$-2.90M	USD	1 Quarter
(Increase) in inventory	`IncreaseDecreaseInInventories`	$600.00K	USD	1 Quarter
(Increase) in inventory	`IncreaseDecreaseInInventories`	$2.10M	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.10M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.00M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.00M	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$900.00K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.70M	USD	1 Quarter
Change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.60M	USD	1 Quarter
Change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.60M	USD	1 Quarter
Converter equipment	`PaymentsToAcquireMachineryAndEquipment`	$6.20M	USD	1 Quarter
Converter equipment	`PaymentsToAcquireMachineryAndEquipment`	$8.60M	USD	1 Quarter
Other capital expenditures	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$300.00K	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`	$6.50M	USD	1 Quarter
Patent and trademark expenditures	`PaymentsToAcquireIntangibleAssets`	$100.00K	USD	1 Quarter
Patent and trademark expenditures	`PaymentsToAcquireIntangibleAssets`	$200.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.60M	USD	1 Quarter
Payments on term loans and credit facility	`RepaymentsOfLongTermDebt`	$1.10M	USD	1 Quarter
Payments on term loans and credit facility	`RepaymentsOfLongTermDebt`	$400.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-400.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.10M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-200.00K	USD	1 Quarter
Effect of Exchange Rate Changes on Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-200.00K	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$500.00K	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.70M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.20M	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`	$23.20M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.50M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.20M	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`	$23.20M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.50M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance (shares)	`CommonStockSharesOutstanding`	995.00	shares	Point-in-time
Beginning Balance (shares)	`CommonStockSharesOutstanding`	70.86M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$531.80M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$196.40M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$189.60M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$518.60M	USD	Point-in-time
Additional Shares Purchased	`StockIssuedDuringPeriodValueAdditionalSharesPurchased`	-	USD	1 Quarter
Issue Director Shares	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Amortization of restricted stock units	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$2.20M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.40M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.00M	USD	1 Quarter
Unrealized gain (loss) on interest rate swap, net of tax of $2.3	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-7.80M	USD	1 Quarter
Unrealized gain (loss) on interest rate swap, net of tax of $2.3	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.40M	USD	1 Quarter
Ending Balance (shares)	`CommonStockSharesOutstanding`	995.00	shares	Point-in-time
Ending Balance (shares)	`CommonStockSharesOutstanding`	70.86M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$531.80M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$196.40M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$189.60M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$518.60M	USD	Point-in-time

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