10-Q Filing

Atkore Inc. CIK: 1666138 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001666138-24-000016`
Period End Date	20231231
Filing Date	20240201
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	atkr-20231229_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 26 Cash Flow Statement 60 Stockholders Equity 18 Comprehensive Income 10

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for current and expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.26M	USD	Point-in-time
Accounts receivable, allowance for current and expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.18M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$388.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$380.92M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	36.91M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.32M	shares	Point-in-time
Accounts receivable, less allowance for current and expected credit losses of $6,265 and $5,179, respectively	`AccountsReceivableNetCurrent`	$517.63M	USD	Point-in-time
Accounts receivable, less allowance for current and expected credit losses of $6,265 and $5,179, respectively	`AccountsReceivableNetCurrent`	$559.85M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.32M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.91M	shares	Point-in-time
Inventories, net	`InventoryNet`	$493.64M	USD	Point-in-time
Inventories, net	`InventoryNet`	$493.85M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$96.67M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$105.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.50B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.54B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$586.98M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$559.04M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$394.37M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$381.20M	USD	Point-in-time
Goodwill	`Goodwill`	$311.11M	USD	Point-in-time
Goodwill	`Goodwill`	$312.96M	USD	Point-in-time
Right-of-use assets, net	`OperatingAndFinanceLeaseRightofUseAssetNet`	$144.83M	USD	Point-in-time
Right-of-use assets, net	`OperatingAndFinanceLeaseRightofUseAssetNet`	$120.75M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$569.00K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$546.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$10.71M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$10.70M	USD	Point-in-time
Total Assets	`Assets`	$2.94B	USD	Point-in-time
Total Assets	`Assets`	$2.94B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$248.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$292.73M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$4.62M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$6.32M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$30.52M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$45.58M	USD	Point-in-time
Customer liabilities	`ContractWithCustomerLiabilityCurrent`	$121.58M	USD	Point-in-time
Customer liabilities	`ContractWithCustomerLiabilityCurrent`	$131.12M	USD	Point-in-time
Lease obligations	`OperatingAndFinanceLeaseLiabilityCurrent`	$17.88M	USD	Point-in-time
Lease obligations	`OperatingAndFinanceLeaseLiabilityCurrent`	$16.23M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$82.17M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$72.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$505.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$564.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$763.23M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$762.69M	USD	Point-in-time
Long-term lease obligations	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$105.52M	USD	Point-in-time
Long-term lease obligations	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$129.05M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$21.28M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$22.35M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.74M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$14.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.43B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.47B	USD	Point-in-time
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 36,905,528 and 37,317,893 shares issued and outstanding, respectively	`CommonStockValue`	$374.00K	USD	Point-in-time
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 36,905,528 and 37,317,893 shares issued and outstanding, respectively	`CommonStockValue`	$370.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$490.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$506.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.04B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$994.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-24.16M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-33.94M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$1.28B	USD	Point-in-time
Total Equity	`StockholdersEquity`	$1.47B	USD	Point-in-time
Total Equity	`StockholdersEquity`	$1.25B	USD	Point-in-time
Total Equity	`StockholdersEquity`	$1.50B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.94B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$2.94B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$833.82M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$798.48M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$499.47M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$507.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$290.54M	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`	$100.61M	USD	1 Quarter
Intangible asset amortization	`AmortizationOfIntangibleAssets`	$14.47M	USD	1 Quarter
Intangible asset amortization	`AmortizationOfIntangibleAssets`	$12.80M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$231.58M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$175.46M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-9.49M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-7.79M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-41.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$167.65M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$222.05M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$29.27M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$48.56M	USD	1 Quarter
Net income	`NetIncomeLoss`	$138.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$173.49M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$4.26	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$3.66	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.61	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$4.20	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$138.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$173.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.97M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.02M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.67M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.27M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.76M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.27M	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$3.54M	USD	1 Quarter
Amortization of right-of-use assets	`FinanceLeaseRightOfUseAssetAmortization`	$6.14M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherOperatingActivitiesCashFlowStatement`	$1.41M	USD	1 Quarter
Other non-cash adjustments to net income	`OtherOperatingActivitiesCashFlowStatement`	$2.07M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-43.84M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-26.84M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-11.56M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.02M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.14M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.93M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-48.83M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-42.01M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-15.95M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-36.07M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-260.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$38.79M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-910.00K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-532.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$198.85M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$158.11M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.01M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$44.33M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$5.97M	USD	1 Quarter
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$82.18M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-117.19M	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`	$-21.30M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$150.06M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$96.43M	USD	1 Quarter
Finance lease payments	`FinanceLeasePrincipalPayments`	$427.00K	USD	1 Quarter
Finance lease payments	`FinanceLeasePrincipalPayments`	-	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-118.15M	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`	$3.16M	USD	1 Quarter
Effects of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.24M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-80.92M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.19M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$388.75M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$380.92M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$388.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.83M	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`	$380.92M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$388.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.83M	USD	Point-in-time
Capital expenditures, not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$7.23M	USD	1 Quarter
Capital expenditures, not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$5.03M	USD	1 Quarter
Operating lease right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.18M	USD	1 Quarter
Operating lease right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$24.75M	USD	1 Quarter
Acquisitions of businesses, not yet paid	`AcquisitionsOfBusinessesNotYetPaid`	-	USD	1 Quarter
Acquisitions of businesses, not yet paid	`AcquisitionsOfBusinessesNotYetPaid`	$14.12M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$1.28B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.47B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.25B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.50B	USD	Point-in-time
Net income	`NetIncomeLoss`	$138.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$173.49M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$9.78M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$11.32M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.76M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.27M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`StockIssuedDuringPeriodValueNewIssues`	$-21.30M	USD	1 Quarter
Issuance of common stock, net of shares withheld for tax	`StockIssuedDuringPeriodValueNewIssues`	$-14.78M	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$97.39M	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$150.06M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$1.28B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.47B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.25B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.50B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$138.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$173.49M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$9.73M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$11.26M	USD	1 Quarter
Change in unrecognized loss related to pension benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-53.00K	USD	1 Quarter
Change in unrecognized loss related to pension benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-62.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$9.78M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$11.32M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$148.16M	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.