10-Q Filing

Atkore Inc. CIK: 1666138 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001666138-22-000039`
Period End Date	20211231
Filing Date	20220131
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	atkr-20211224_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 26 Cash Flow Statement 64 Stockholders Equity 18 Comprehensive Income 10

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for current and expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.85M	USD	Point-in-time
Accounts receivable, allowance for current and expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.51M	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`	$576.29M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	46.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	45.39M	shares	Point-in-time
Accounts receivable, less allowance for current and expected credit losses of $2,847 and $2,510, respectively	`AccountsReceivableNetCurrent`	$541.68M	USD	Point-in-time
Accounts receivable, less allowance for current and expected credit losses of $2,847 and $2,510, respectively	`AccountsReceivableNetCurrent`	$524.93M	USD	Point-in-time
Inventories, net	`InventoryNet`	$362.10M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	45.39M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	46.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$285.99M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$45.91M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	290,600.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$34.25M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	290,600.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.45B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.42B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$276.86M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$275.62M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$251.38M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$241.20M	USD	Point-in-time
Goodwill	`Goodwill`	$199.05M	USD	Point-in-time
Goodwill	`Goodwill`	$211.93M	USD	Point-in-time
Right-of-use assets, net	`OperatingAndFinanceLeaseRightofUseAssetNet`	$41.11M	USD	Point-in-time
Right-of-use assets, net	`OperatingAndFinanceLeaseRightofUseAssetNet`	$40.88M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$35.05M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$29.69M	USD	Point-in-time
Other long-term assets	`NontradeReceivablesNoncurrent`	$2.55M	USD	Point-in-time
Other long-term assets	`NontradeReceivablesNoncurrent`	$1.97M	USD	Point-in-time
Total Assets	`Assets`	$2.27B	USD	Point-in-time
Total Assets	`Assets`	$2.21B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$233.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$243.16M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$72.95M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$74.51M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$29.80M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$57.44M	USD	Point-in-time
Customer liabilities	`ContractWithCustomerLiabilityCurrent`	$80.32M	USD	Point-in-time
Customer liabilities	`ContractWithCustomerLiabilityCurrent`	$98.56M	USD	Point-in-time
Lease obligations	`OperatingAndFinanceLeaseLiabilityCurrent`	$11.79M	USD	Point-in-time
Lease obligations	`OperatingAndFinanceLeaseLiabilityCurrent`	$11.65M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$59.27M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$51.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$500.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$524.94M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$758.39M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$758.92M	USD	Point-in-time
Long-term lease obligations	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$30.24M	USD	Point-in-time
Long-term lease obligations	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$30.08M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$18.14M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$16.75M	USD	Point-in-time
Pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$3.17M	USD	Point-in-time
Pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$3.82M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$14.34M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.35B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.32B	USD	Point-in-time
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 45,394,463 and 45,997,159 shares issued and outstanding, respectively	`CommonStockValue`	$461.00K	USD	Point-in-time
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 45,394,463 and 45,997,159 shares issued and outstanding, respectively	`CommonStockValue`	$455.00K	USD	Point-in-time
Treasury stock, held at cost, 290,600 and 290,600 shares, respectively	`TreasuryStockValue`	$2.58M	USD	Point-in-time
Treasury stock, held at cost, 290,600 and 290,600 shares, respectively	`TreasuryStockValue`	$2.58M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$485.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$506.92M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$488.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$388.66M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-28.73M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.06M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$942.62M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$378.41M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$437.35M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$864.74M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.27B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.21B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$511.08M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$840.80M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$321.89M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$485.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$189.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$354.81M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$61.08M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$78.15M	USD	1 Quarter
Intangible asset amortization	`AmortizationOfIntangibleAssets`	$8.23M	USD	1 Quarter
Intangible asset amortization	`AmortizationOfIntangibleAssets`	$8.26M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$119.85M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$268.43M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-6.92M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-8.25M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$431.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$308.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$112.03M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$261.82M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$56.98M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$26.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$204.84M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$4.38	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.78	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$4.32	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.75	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$85.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$204.84M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$19.04M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.12M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.72M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.52M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.43M	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$3.35M	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$3.12M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherOperatingActivitiesCashFlowStatement`	$1.70M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherOperatingActivitiesCashFlowStatement`	$4.05M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$45.38M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$20.33M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$75.09M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$11.59M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.69M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.06M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.34M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.28M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-23.17M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.91M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-22.53M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$86.28M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$97.19M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.36M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.23M	USD	1 Quarter
Proceeds from sale of properties and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$432.00K	USD	1 Quarter
Proceeds from sale of properties and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.12M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$36.10M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.19M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-35.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.02M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.26M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$40.00M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`ProceedsFromIssuanceOfCommonStock`	$-24.50M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`ProceedsFromIssuanceOfCommonStock`	$-3.93M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$104.54M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$35.04M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-17.00K	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-129.05M	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`	$2.91M	USD	1 Quarter
Effects of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-450.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-77.33M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.05M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$576.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$498.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$280.42M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$284.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$576.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$498.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$280.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$284.47M	USD	Point-in-time
Capital expenditures, not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$306.00K	USD	1 Quarter
Capital expenditures, not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$1.50M	USD	1 Quarter
Operating lease right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$850.00K	USD	1 Quarter
Operating lease right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.07M	USD	1 Quarter
Acquisitions of businesses, not yet paid	`BusinessCombinationConsiderationTransferredLiabilitiesIncurred`	$2.86M	USD	1 Quarter
Acquisitions of businesses, not yet paid	`BusinessCombinationConsiderationTransferredLiabilitiesIncurred`	-	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$942.62M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$378.41M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$437.35M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$864.74M	USD	Point-in-time
Net income	`NetIncomeLoss`	$85.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$204.84M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.31M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.33M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.43M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.52M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`StockIssuedDuringPeriodValueNewIssues`	$-24.50M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`StockIssuedDuringPeriodValueNewIssues`	$-3.93M	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$104.55M	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$35.04M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$942.62M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$378.41M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$437.35M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$864.74M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$85.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$204.84M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.46M	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`	$-125.00K	USD	1 Quarter
Change in unrecognized loss related to pension benefit plans	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-262.00K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.31M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.33M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$203.51M	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.