10-Q Filing

Atkore Inc. CIK: 1666138 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001666138-23-000032`
Period End Date	20221231
Filing Date	20230201
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	atkr-20221230_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 26 Cash Flow Statement 60 Stockholders Equity 18 Comprehensive Income 10

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for current and expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.49M	USD	Point-in-time
Accounts receivable, allowance for current and expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.54M	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`	$307.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$388.75M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	41.35M	shares	Point-in-time
Accounts receivable, less allowance for current and expected credit losses of $2,488 and $2,544, respectively	`AccountsReceivableNetCurrent`	$506.85M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	39.87M	shares	Point-in-time
Accounts receivable, less allowance for current and expected credit losses of $2,488 and $2,544, respectively	`AccountsReceivableNetCurrent`	$528.90M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	39.87M	shares	Point-in-time
Inventories, net	`InventoryNet`	$454.51M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	41.35M	shares	Point-in-time
Inventories, net	`InventoryNet`	$445.78M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$63.34M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$80.65M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	260,900.00	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	260,900.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.32B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.45B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$390.22M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$418.55M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$382.71M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$426.90M	USD	Point-in-time
Goodwill	`Goodwill`	$289.33M	USD	Point-in-time
Goodwill	`Goodwill`	$323.21M	USD	Point-in-time
Right-of-use assets, net	`OperatingAndFinanceLeaseRightofUseAssetNet`	$69.73M	USD	Point-in-time
Right-of-use assets, net	`OperatingAndFinanceLeaseRightofUseAssetNet`	$71.03M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$9.41M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$5.68M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$3.48M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$3.48M	USD	Point-in-time
Total Assets	`Assets`	$2.57B	USD	Point-in-time
Total Assets	`Assets`	$2.60B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$244.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$210.85M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$12.94M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$5.52M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$29.90M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$61.27M	USD	Point-in-time
Customer liabilities	`ContractWithCustomerLiabilityCurrent`	$111.15M	USD	Point-in-time
Customer liabilities	`ContractWithCustomerLiabilityCurrent`	$99.45M	USD	Point-in-time
Lease obligations	`OperatingAndFinanceLeaseLiabilityCurrent`	$13.79M	USD	Point-in-time
Lease obligations	`OperatingAndFinanceLeaseLiabilityCurrent`	$13.85M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$77.78M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$68.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$447.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$501.91M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$761.07M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$760.54M	USD	Point-in-time
Long-term lease obligations	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$57.98M	USD	Point-in-time
Long-term lease obligations	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$56.84M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$15.64M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$16.15M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$15.24M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$13.15M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.35B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.30B	USD	Point-in-time
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 39,867,895 and 41,351,350 shares issued and outstanding, respectively	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 39,867,895 and 41,351,350 shares issued and outstanding, respectively	`CommonStockValue`	$415.00K	USD	Point-in-time
Treasury stock, held at cost, 260,900 and 260,900 shares, respectively	`TreasuryStockCommonValue`	$2.58M	USD	Point-in-time
Treasury stock, held at cost, 260,900 and 260,900 shares, respectively	`TreasuryStockCommonValue`	$2.58M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$500.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$490.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$825.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$801.98M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-50.15M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-38.82M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$864.74M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$942.62M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$1.28B	USD	Point-in-time
Total Equity	`StockholdersEquity`	$1.25B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.60B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.57B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$840.80M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$833.82M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$499.47M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$485.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$354.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$334.35M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$89.98M	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`	$12.80M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$268.43M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$231.58M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-6.92M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-9.49M	USD	1 Quarter
Other (income) and expense, net	`OtherNonoperatingIncomeExpense`	$308.00K	USD	1 Quarter
Other (income) and expense, net	`OtherNonoperatingIncomeExpense`	$-41.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$222.05M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$261.82M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$48.56M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$56.98M	USD	1 Quarter
Net income	`NetIncomeLoss`	$173.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$204.84M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$4.26	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$4.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$4.20	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$4.32	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$173.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$204.84M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.97M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.72M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.27M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.27M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.43M	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$3.12M	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$3.54M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherOperatingActivitiesCashFlowStatement`	$4.05M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherOperatingActivitiesCashFlowStatement`	$1.41M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-26.84M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$75.09M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-11.56M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.93M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$11.59M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.34M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-48.83M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-36.07M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-23.17M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.82M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$38.79M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.09M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-532.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$97.19M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$198.85M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.36M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.01M	USD	1 Quarter
Proceeds from sale of properties and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of properties and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$432.00K	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$82.18M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$36.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-117.19M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.02M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`ProceedsFromIssuanceOfCommonStock`	$-14.78M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`ProceedsFromIssuanceOfCommonStock`	$-24.50M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$104.54M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$150.06M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-129.05M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-164.83M	USD	1 Quarter
Effects of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.24M	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`	$-80.92M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-77.33M	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`	$388.75M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.83M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$498.96M	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`	$388.75M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.83M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$498.96M	USD	Point-in-time
Capital expenditures, not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$7.23M	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`	$1.07M	USD	1 Quarter
Operating lease right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.18M	USD	1 Quarter
Acquisitions of businesses, not yet paid	`AcquisitionsOfBusinessesNotYetPaid`	$14.12M	USD	1 Quarter
Acquisitions of businesses, not yet paid	`AcquisitionsOfBusinessesNotYetPaid`	$2.86M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$864.74M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$942.62M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.28B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.25B	USD	Point-in-time
Net income	`NetIncomeLoss`	$173.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$204.84M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$11.32M	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`	$5.27M	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`	$-14.78M	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$150.06M	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$104.55M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$864.74M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$942.62M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.28B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.25B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$173.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$204.84M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$11.26M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.46M	USD	1 Quarter
Change in unrecognized loss related to pension benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-62.00K	USD	1 Quarter
Change in unrecognized loss related to pension benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-125.00K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$11.32M	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.33M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$203.51M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$184.82M	USD	1 Quarter

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