10-Q Filing

Atkore Inc. CIK: 1666138 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001666138-21-000036`
Period End Date	20201231
Filing Date	20210202
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	atkr-20201225_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 26 Cash Flow Statement 57 Stockholders Equity 17 Comprehensive Income 10

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for current and expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.46M	USD	Point-in-time
Allowance for current and expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.17M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$280.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$284.47M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	46.62M	shares	Point-in-time
Accounts receivable, less allowance for current and expected credit losses of $2,455 and $3,168, respectively	`AccountsReceivableNetCurrent`	$350.25M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	47.41M	shares	Point-in-time
Accounts receivable, less allowance for current and expected credit losses of $2,455 and $3,168, respectively	`AccountsReceivableNetCurrent`	$298.24M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	46.62M	shares	Point-in-time
Inventories, net	`InventoryNet`	$221.26M	USD	Point-in-time
Inventories, net	`InventoryNet`	$199.09M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	47.41M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	260,900.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$40.12M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	260,900.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$46.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$892.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$828.68M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$245.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$243.89M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$248.84M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$255.35M	USD	Point-in-time
Goodwill	`Goodwill`	$188.24M	USD	Point-in-time
Goodwill	`Goodwill`	$189.98M	USD	Point-in-time
Right-of-use assets, net	`OperatingAndFinanceLeaseRightofUseAssetNet`	$38.69M	USD	Point-in-time
Right-of-use assets, net	`OperatingAndFinanceLeaseRightofUseAssetNet`	$36.86M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$687.00K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$955.00K	USD	Point-in-time
Other long-term assets	`NontradeReceivablesNoncurrent`	$2.99M	USD	Point-in-time
Other long-term assets	`NontradeReceivablesNoncurrent`	$892.00K	USD	Point-in-time
Total Assets	`Assets`	$1.56B	USD	Point-in-time
Total Assets	`Assets`	$1.61B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$142.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$156.72M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.36M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$16.09M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$25.75M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$32.84M	USD	Point-in-time
Customer liabilities	`ContractWithCustomerLiabilityCurrent`	$48.38M	USD	Point-in-time
Customer liabilities	`ContractWithCustomerLiabilityCurrent`	$35.80M	USD	Point-in-time
Lease obligations	`OperatingAndFinanceLeaseLiabilityCurrent`	$15.79M	USD	Point-in-time
Lease obligations	`OperatingAndFinanceLeaseLiabilityCurrent`	$11.75M	USD	Point-in-time
Other current liabilities	`AccruedLiabilitiesCurrent`	$50.83M	USD	Point-in-time
Other current liabilities	`AccruedLiabilitiesCurrent`	$47.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$309.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$276.17M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$803.74M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$764.38M	USD	Point-in-time
Long-term lease obligations	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$24.14M	USD	Point-in-time
Long-term lease obligations	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$26.19M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$24.52M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$22.52M	USD	Point-in-time
Other long-term tax liabilities	`AccruedIncomeTaxesNoncurrent`	$1.62M	USD	Point-in-time
Other long-term tax liabilities	`AccruedIncomeTaxesNoncurrent`	$1.54M	USD	Point-in-time
Pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$40.02M	USD	Point-in-time
Pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$38.71M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.39M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.18B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.18B	USD	Point-in-time
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 46,624,975 and 47,407,023 shares issued and outstanding, respectively	`CommonStockValue`	$467.00K	USD	Point-in-time
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 46,624,975 and 47,407,023 shares issued and outstanding, respectively	`CommonStockValue`	$475.00K	USD	Point-in-time
Treasury stock, held at cost, 260,900 and 260,900 shares, respectively	`TreasuryStockValue`	$2.58M	USD	Point-in-time
Treasury stock, held at cost, 260,900 and 260,900 shares, respectively	`TreasuryStockValue`	$2.58M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$488.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$487.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-64.15M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-35.24M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-42.55M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$437.35M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$378.41M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$272.13M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$232.94M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$1.56B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$1.61B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$447.45M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$511.08M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$330.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$321.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$116.84M	USD	1 Quarter
Gross profit	`GrossProfit`	$189.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$56.22M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$61.08M	USD	1 Quarter
Intangible asset amortization	`AmortizationOfIntangibleAssets`	$8.26M	USD	1 Quarter
Intangible asset amortization	`AmortizationOfIntangibleAssets`	$8.11M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$52.52M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$119.85M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-8.25M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-10.62M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$234.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$431.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$42.13M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$112.03M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$26.96M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$7.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.07M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.78	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.72	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.75	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.71	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$34.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.07M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$19.04M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.73M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.12M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.09M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.12M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.52M	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$3.63M	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$3.35M	USD	1 Quarter
Other adjustments to net income	`OtherOperatingActivitiesCashFlowStatement`	$2.85M	USD	1 Quarter
Other adjustments to net income	`OtherOperatingActivitiesCashFlowStatement`	$1.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-25.14M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$45.38M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$20.33M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$17.64M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-14.90M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.06M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-23.12M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$6.64M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$86.28M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$52.17M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.23M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.81M	USD	1 Quarter
Insurance proceeds for property, plant and equipment	`ProceedsFromInsuranceSettlementInvestingActivities`	-	USD	1 Quarter
Insurance proceeds for property, plant and equipment	`ProceedsFromInsuranceSettlementInvestingActivities`	$1.12M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.20M	USD	Point-in-time
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.19M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-15.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-35.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.79M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.26M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$40.00M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`ProceedsFromIssuanceOfCommonStock`	$-3.93M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`ProceedsFromIssuanceOfCommonStock`	$-2.98M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$35.04M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-17.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-60.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.04M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-78.98M	USD	1 Quarter
Effects of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.38M	USD	1 Quarter
Effects of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.91M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.05M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$40.72M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$164.13M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$123.42M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$284.47M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$280.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$164.13M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$123.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$284.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$280.42M	USD	Point-in-time
Capital expenditures, not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$306.00K	USD	1 Quarter
Capital expenditures, not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$618.00K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$437.35M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$378.41M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$272.13M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$232.94M	USD	Point-in-time
Net income	`NetIncomeLoss`	$34.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.07M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.32M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.31M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.52M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.12M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`StockIssuedDuringPeriodValueNewIssues`	$-3.93M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`StockIssuedDuringPeriodValueNewIssues`	$-2.98M	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$35.04M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$437.35M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$378.41M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$272.13M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$232.94M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$34.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.07M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$5.11M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$7.05M	USD	1 Quarter
Change in unrecognized loss related to pension benefit plans	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-207.00K	USD	1 Quarter
Change in unrecognized loss related to pension benefit plans	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-262.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.32M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.31M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$40.11M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$92.38M	USD	1 Quarter

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