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10-Q Filing

NVENT ELECTRIC PLC CIK: 1720635 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001720635-22-000018
Period End Date 20220331
Filing Date 20220429
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance nvt-20220331_htm.xml
Filing Contents
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Accounts and notes receivable, allowances AllowanceForDoubtfulAccountsReceivableCurrent $7.90M USD Point-in-time
Accounts and notes receivable, allowances AllowanceForDoubtfulAccountsReceivableCurrent $6.70M USD Point-in-time
Ordinary shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Ordinary shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.50M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $122.50M USD Point-in-time
Ordinary shares authorized (in shares) CommonStockSharesAuthorized 400.00M shares Point-in-time
Ordinary shares authorized (in shares) CommonStockSharesAuthorized 400.00M shares Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $51.10M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $104.90M USD Point-in-time
Ordinary shares issued (in shares) CommonStockSharesIssued 166.10M shares Point-in-time
Accounts and notes receivable, net of allowances of $7.9 and $6.7, respectively AccountsAndNotesReceivableNet $438.10M USD Point-in-time
Accounts and notes receivable, net of allowances of $7.9 and $6.7, respectively AccountsAndNotesReceivableNet $441.70M USD Point-in-time
Ordinary shares issued (in shares) CommonStockSharesIssued 166.30M shares Point-in-time
Inventories InventoryNet $348.30M USD Point-in-time
Inventories InventoryNet $321.90M USD Point-in-time
Other current assets OtherAssetsCurrent $102.00M USD Point-in-time
Other current assets OtherAssetsCurrent $123.80M USD Point-in-time
Total current assets AssetsCurrent $964.90M USD Point-in-time
Total current assets AssetsCurrent $911.50M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $291.10M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $287.50M USD Point-in-time
Goodwill Goodwill $2.19B USD Point-in-time
Goodwill Goodwill $2.19B USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $1.14B USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $1.13B USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $141.10M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $140.20M USD Point-in-time
Total other assets AssetsNoncurrentExcludingPropertyPlantAndEquipment $3.47B USD Point-in-time
Total other assets AssetsNoncurrentExcludingPropertyPlantAndEquipment $3.45B USD Point-in-time
Total assets Assets $4.67B USD Point-in-time
Total assets Assets $4.70B USD Point-in-time
Current maturities of long-term debt and short-term borrowings LongTermDebtCurrent $5.00M USD Point-in-time
Current maturities of long-term debt and short-term borrowings LongTermDebtCurrent $5.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $263.70M USD Point-in-time
Accounts payable AccountsPayableCurrent $261.00M USD Point-in-time
Employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $113.90M USD Point-in-time
Employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $84.70M USD Point-in-time
Other current liabilities OtherAccruedLiabilitiesCurrent $256.40M USD Point-in-time
Other current liabilities OtherAccruedLiabilitiesCurrent $234.90M USD Point-in-time
Total current liabilities LiabilitiesCurrent $636.30M USD Point-in-time
Total current liabilities LiabilitiesCurrent $588.30M USD Point-in-time
Long-term debt LongTermDebt $1.04B USD Point-in-time
Long-term debt LongTermDebt $994.20M USD Point-in-time
Pension and other post-retirement compensation and benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $208.10M USD Point-in-time
Pension and other post-retirement compensation and benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $204.10M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $210.00M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $210.30M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $129.20M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $126.50M USD Point-in-time
Total liabilities Liabilities $2.18B USD Point-in-time
Total liabilities Liabilities $2.17B USD Point-in-time
Ordinary shares $0.01 par value, 400.0 authorized, 166.3 and 166.1 issued at March 31, 2022 and December 31, 2021, respectively CommonStockValueOutstanding $1.70M USD Point-in-time
Ordinary shares $0.01 par value, 400.0 authorized, 166.3 and 166.1 issued at March 31, 2022 and December 31, 2021, respectively CommonStockValueOutstanding $1.70M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.40B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.40B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $213.30M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $174.50M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-83.90M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-83.20M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.53B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.45B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.50B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.41B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.67B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.70B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $548.90M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $694.70M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $339.90M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $447.40M USD 1 Quarter
Gross profit GrossProfit $247.30M USD 1 Quarter
Gross profit GrossProfit $209.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $117.20M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $142.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $11.40M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $15.20M USD 1 Quarter
Operating income OperatingIncomeLoss $80.40M USD 1 Quarter
Operating income OperatingIncomeLoss $90.10M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-8.10M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-7.20M USD 1 Quarter
Other expense OtherNonoperatingExpense $600.00K USD 1 Quarter
Other expense OtherNonoperatingExpense $600.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $71.70M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $82.30M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $6.30M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $14.50M USD 1 Quarter
Net income NetIncomeLoss $67.80M USD 1 Quarter
Net income NetIncomeLoss $65.40M USD 1 Quarter
Net income NetIncomeLoss $67.80M USD 1 Quarter
Net income NetIncomeLoss $65.40M USD 1 Quarter
Changes in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $3.00M USD 1 Quarter
Changes in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $3.00M USD 1 Quarter
Changes in market value of derivative financial instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $19.30M USD 1 Quarter
Changes in market value of derivative financial instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $-3.70M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $87.70M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $67.10M USD 1 Quarter
Basic pro forma earnings per ordinary share (in dollars per share) BasicEarningsPerShareProForma $0.41 USD 1 Quarter
Basic pro forma earnings per ordinary share (in dollars per share) BasicEarningsPerShareProForma $0.39 USD 1 Quarter
Diluted pro forma earnings per ordinary share (in dollars per share) DilutedEarningsPerShareProForma $0.40 USD 1 Quarter
Diluted pro forma earnings per ordinary share (in dollars per share) DilutedEarningsPerShareProForma $0.39 USD 1 Quarter
Basic (shares) WeightedAverageNumberOfSharesOutstandingBasic 167.70M shares 1 Quarter
Basic (shares) WeightedAverageNumberOfSharesOutstandingBasic 166.20M shares 1 Quarter
Diluted (shares) WeightedAverageNumberOfDilutedSharesOutstanding 168.20M shares 1 Quarter
Diluted (shares) WeightedAverageNumberOfDilutedSharesOutstanding 168.80M shares 1 Quarter
Cash dividends paid per ordinary share (in usd per share) CommonStockDividendsPerShareCashPaid $0.17 USD 1 Quarter
Cash dividends paid per ordinary share (in usd per share) CommonStockDividendsPerShareCashPaid $0.17 USD 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest ProfitLoss $65.40M USD 1 Quarter
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest ProfitLoss $67.80M USD 1 Quarter
Depreciation Depreciation $10.70M USD 1 Quarter
Depreciation Depreciation $9.70M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $17.80M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $15.90M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-100.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-1.50M USD 1 Quarter
Share-based compensation ShareBasedCompensation $6.60M USD 1 Quarter
Share-based compensation ShareBasedCompensation $-200.00K USD 1 Quarter
Accounts and notes receivable IncreaseDecreaseInAccountsReceivable $42.20M USD 1 Quarter
Accounts and notes receivable IncreaseDecreaseInAccountsReceivable $5.50M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $6.20M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $29.10M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $12.60M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $22.70M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $6.30M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $10.10M USD 1 Quarter
Employee compensation and benefits IncreaseDecreaseInOtherEmployeeRelatedLiabilities $7.10M USD 1 Quarter
Employee compensation and benefits IncreaseDecreaseInOtherEmployeeRelatedLiabilities $-28.40M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $-16.90M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $2.50M USD 1 Quarter
Other non-current assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet - USD 1 Quarter
Other non-current assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-1.90M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $6.50M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $49.90M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $9.90M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $11.10M USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $1.90M USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $100.00K USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $3.90M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-13.70M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-9.20M USD 1 Quarter
Net receipts of revolving long-term debt NetReceiptsOfRevolvingLongTermDebt - USD 1 Quarter
Net receipts of revolving long-term debt NetReceiptsOfRevolvingLongTermDebt $47.80M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $1.40M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $5.00M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $29.00M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $29.40M USD 1 Quarter
Shares issued to employees, net of shares withheld ProceedsIssuanceOfSharesShareBasedPaymentArrangementNetOfTaxWithholdingPayments $-3.00M USD 1 Quarter
Shares issued to employees, net of shares withheld ProceedsIssuanceOfSharesShareBasedPaymentArrangementNetOfTaxWithholdingPayments $2.00M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $20.00M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $8.50M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $5.90M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-52.40M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-1.40M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-1.60M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-17.60M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.60M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.50M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $122.50M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $51.10M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $104.90M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.50M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $122.50M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $51.10M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $104.90M USD Point-in-time
Stockholders Equity 26 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.53B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.45B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.50B USD Point-in-time
Beginning balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.41B USD Point-in-time
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest ProfitLoss $65.40M USD 1 Quarter
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest ProfitLoss $67.80M USD 1 Quarter
Other Comprehensive Income (Loss), Net of Tax OtherComprehensiveIncomeLossNetOfTax $-700.00K USD 1 Quarter
Other Comprehensive Income (Loss), Net of Tax OtherComprehensiveIncomeLossNetOfTax $22.30M USD 1 Quarter
Dividends, Common Stock DividendsCommonStock $29.00M USD 1 Quarter
Dividends, Common Stock DividendsCommonStock $29.40M USD 1 Quarter
Share repurchases (in shares) StockRepurchasedDuringPeriodShares 900,000.00 shares 1 Quarter
Share repurchases (in shares) StockRepurchasedDuringPeriodShares 100,000.00 shares 1 Quarter
Share repurchases StockRepurchasedDuringPeriodValue $20.00M USD 1 Quarter
Share repurchases StockRepurchasedDuringPeriodValue $3.90M USD 1 Quarter
Stock Issued During Period, Value, Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised $1.40M USD 1 Quarter
Stock Issued During Period, Value, Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised $4.10M USD 1 Quarter
Issuance of restricted shares, net of cancellations StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures 0.00 shares 1 Quarter
Issuance of restricted shares, net of cancellations StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures 0.00 shares 1 Quarter
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $2.00M USD 1 Quarter
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $4.40M USD 1 Quarter
APIC, Share-based Payment Arrangement, Increase for Cost Recognition AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.60M USD 1 Quarter
APIC, Share-based Payment Arrangement, Increase for Cost Recognition AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $-200.00K USD 1 Quarter
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.53B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.45B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.50B USD Point-in-time
Ending balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.41B USD Point-in-time

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

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