10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001877322-22-000005 |
| Period End Date | 20220331 |
| Filing Date | 20220510 |
| Fiscal Year | 2022 |
| Fiscal Period | Q1 |
| XBRL Instance | esab-20220401_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
50 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Trade receivables, allowance for doubtful accounts |
AllowanceForDoubtfulAccountsReceivableCurrent
|
$23.91M | USD | Point-in-time |
| Trade receivables, allowance for doubtful accounts |
AllowanceForDoubtfulAccountsReceivableCurrent
|
$27.48M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$41.21M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$56.63M | USD | Point-in-time |
| Trade receivables, less allowance for credit losses of $27,484 and $23,912 |
AccountsReceivableNetCurrent
|
$410.20M | USD | Point-in-time |
| Trade receivables, less allowance for credit losses of $27,484 and $23,912 |
AccountsReceivableNetCurrent
|
$383.50M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$462.54M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$420.06M | USD | Point-in-time |
| Prepaid expenses |
PrepaidExpenseCurrent
|
$51.95M | USD | Point-in-time |
| Prepaid expenses |
PrepaidExpenseCurrent
|
$59.02M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$67.36M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$59.70M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$964.07M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$1.05B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$286.28M | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$280.59M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$1.53B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$1.51B | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$508.52M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$521.43M | USD | Point-in-time |
| Lease assets - right of use |
OperatingLeaseRightOfUseAsset
|
$107.72M | USD | Point-in-time |
| Lease assets - right of use |
OperatingLeaseRightOfUseAsset
|
$107.94M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$48.54M | USD | Point-in-time |
| Other assets |
OtherAssetsNoncurrent
|
$322.48M | USD | Point-in-time |
| Total assets |
Assets
|
$3.78B | USD | Point-in-time |
| Total assets |
Assets
|
$3.46B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$345.48M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$369.00M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$283.41M | USD | Point-in-time |
| Accrued liabilities |
AccruedLiabilitiesCurrent
|
$251.11M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$652.41M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$596.59M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$362.94M | USD | Point-in-time |
| Other liabilities |
OtherLiabilitiesNoncurrent
|
$611.58M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$959.53M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$1.26B | USD | Point-in-time |
| Net Parent investment |
MembersCapital
|
$2.92B | USD | Point-in-time |
| Net Parent investment |
MembersCapital
|
$3.04B | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-460.89M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-564.05M | USD | Point-in-time |
| Total Parents equity |
StockholdersEquity
|
$2.46B | USD | Point-in-time |
| Total Parents equity |
StockholdersEquity
|
$2.48B | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$40.51M | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$40.99M | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.50B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.54B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$3.46B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$3.78B | USD | Point-in-time |
Income Statement
40 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net sales |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$647.91M | USD | 1 Quarter |
| Net sales |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$568.13M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$368.33M | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$423.58M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$199.79M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$224.33M | USD | 1 Quarter |
| Selling, general and administrative expense |
SellingGeneralAndAdministrativeExpense
|
$124.42M | USD | 1 Quarter |
| Selling, general and administrative expense |
SellingGeneralAndAdministrativeExpense
|
$135.41M | USD | 1 Quarter |
| Restructuring and other related charges |
RestructuringCharges
|
$3.08M | USD | 1 Quarter |
| Restructuring and other related charges |
RestructuringCharges
|
$5.30M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$72.30M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$83.61M | USD | 1 Quarter |
| Interest income and other, net |
InterestExpenseIncomeAndOtherNet
|
$-556.00K | USD | 1 Quarter |
| Interest income and other, net |
InterestExpenseIncomeAndOtherNet
|
$-225.00K | USD | 1 Quarter |
| Income from continuing operations before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$72.53M | USD | 1 Quarter |
| Income from continuing operations before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$84.17M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$13.99M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$25.75M | USD | 1 Quarter |
| Net income from continuing operations |
IncomeLossFromContinuingOperations
|
$58.53M | USD | 1 Quarter |
| Net income from continuing operations |
IncomeLossFromContinuingOperations
|
$58.42M | USD | 1 Quarter |
| Loss from discontinued operations, net of taxes |
IncomeLossFromDiscontinuedOperationsNetOfTax
|
$-2.02M | USD | 1 Quarter |
| Loss from discontinued operations, net of taxes |
IncomeLossFromDiscontinuedOperationsNetOfTax
|
- | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$56.40M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$58.53M | USD | 1 Quarter |
| Less: Income attributable to noncontrolling interest, net of taxes |
NetIncomeLossAttributableToNoncontrollingInterest
|
$876.00K | USD | 1 Quarter |
| Less: Income attributable to noncontrolling interest, net of taxes |
NetIncomeLossAttributableToNoncontrollingInterest
|
$966.00K | USD | 1 Quarter |
| Net income attributable to ESAB Corporation |
NetIncomeLoss
|
$57.66M | USD | 1 Quarter |
| Net income attributable to ESAB Corporation |
NetIncomeLoss
|
$55.44M | USD | 1 Quarter |
| Income from continuing operations (in dollars per share) |
IncomeLossFromContinuingOperationsPerBasicShare
|
$0.96 | USD | 1 Quarter |
| Income from continuing operations (in dollars per share) |
IncomeLossFromContinuingOperationsPerBasicShare
|
$0.96 | USD | 1 Quarter |
| Loss on discontinued operations (in dollars per share) |
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
|
$-0.03 | USD | 1 Quarter |
| Loss on discontinued operations (in dollars per share) |
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
|
- | USD | 1 Quarter |
| Net income per share (in dollars per share) |
EarningsPerShareBasic
|
$0.93 | USD | 1 Quarter |
| Net income per share (in dollars per share) |
EarningsPerShareBasic
|
$0.96 | USD | 1 Quarter |
| Income from continuing operations (in dollars per share) |
IncomeLossFromContinuingOperationsPerDilutedShare
|
$0.96 | USD | 1 Quarter |
| Income from continuing operations (in dollars per share) |
IncomeLossFromContinuingOperationsPerDilutedShare
|
$0.96 | USD | 1 Quarter |
| Loss on discontinued operations (in dollars per share) |
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
|
- | USD | 1 Quarter |
| Loss on discontinued operations (in dollars per share) |
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
|
$-0.03 | USD | 1 Quarter |
| Net income per share - diluted (in dollars per share) |
EarningsPerShareDiluted
|
$0.96 | USD | 1 Quarter |
| Net income per share - diluted (in dollars per share) |
EarningsPerShareDiluted
|
$0.93 | USD | 1 Quarter |
Cash Flow Statement
48 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$56.40M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$58.53M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$18.72M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortization
|
$16.69M | USD | 1 Quarter |
| Stock-based compensation expense |
ShareBasedCompensation
|
$1.59M | USD | 1 Quarter |
| Stock-based compensation expense |
ShareBasedCompensation
|
$1.73M | USD | 1 Quarter |
| Deferred income tax expense (benefit) |
DeferredIncomeTaxesAndTaxCredits
|
$3.51M | USD | 1 Quarter |
| Deferred income tax expense (benefit) |
DeferredIncomeTaxesAndTaxCredits
|
$-974.00K | USD | 1 Quarter |
| Trade receivables, net |
IncreaseDecreaseInAccountsReceivable
|
$29.83M | USD | 1 Quarter |
| Trade receivables, net |
IncreaseDecreaseInAccountsReceivable
|
$35.04M | USD | 1 Quarter |
| Inventories, net |
IncreaseDecreaseInInventories
|
$29.37M | USD | 1 Quarter |
| Inventories, net |
IncreaseDecreaseInInventories
|
$41.92M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$11.97M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$55.61M | USD | 1 Quarter |
| Other operating assets and liabilities |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$6.21M | USD | 1 Quarter |
| Other operating assets and liabilities |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$2.46M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$16.09M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$62.85M | USD | 1 Quarter |
| Purchases of property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$5.90M | USD | 1 Quarter |
| Purchases of property, plant and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$4.70M | USD | 1 Quarter |
| Proceeds from sale of property, plant and equipment |
ProceedsFromSaleOfBuildings
|
$2.75M | USD | 1 Quarter |
| Proceeds from sale of property, plant and equipment |
ProceedsFromSaleOfBuildings
|
$153.00K | USD | 1 Quarter |
| Acquisition, net of cash received |
PaymentsToAcquireBusinessesNetOfCashAcquired
|
$4.86M | USD | 1 Quarter |
| Acquisition, net of cash received |
PaymentsToAcquireBusinessesNetOfCashAcquired
|
- | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-9.41M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-3.16M | USD | 1 Quarter |
| Repayments of short-term borrowings |
RepaymentsOfShortTermDebt
|
$511.00K | USD | 1 Quarter |
| Repayments of short-term borrowings |
RepaymentsOfShortTermDebt
|
$3.00K | USD | 1 Quarter |
| Payment of deferred consideration |
PaymentForContingentConsiderationLiabilityFinancingActivities
|
$1.50M | USD | 1 Quarter |
| Payment of deferred consideration |
PaymentForContingentConsiderationLiabilityFinancingActivities
|
- | USD | 1 Quarter |
| Distributions to noncontrolling interest holders |
PaymentsToMinorityShareholders
|
$941.00K | USD | 1 Quarter |
| Distributions to noncontrolling interest holders |
PaymentsToMinorityShareholders
|
$1.05M | USD | 1 Quarter |
| Transfers from (to) Parent, net |
TransfersToFromParentNet
|
$-2.85M | USD | 1 Quarter |
| Transfers from (to) Parent, net |
TransfersToFromParentNet
|
$55.07M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-56.13M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-105.00K | USD | 1 Quarter |
| Effect of foreign exchange rates on Cash and cash equivalents |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$-1.37M | USD | 1 Quarter |
| Effect of foreign exchange rates on Cash and cash equivalents |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$2.60M | USD | 1 Quarter |
| Increase (decrease) in Cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-4.05M | USD | 1 Quarter |
| Increase (decrease) in Cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$15.42M | USD | 1 Quarter |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$41.21M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$45.15M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$49.21M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$56.63M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$41.21M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$45.15M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$49.21M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$56.63M | USD | Point-in-time |
Stockholders Equity
20 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Other comprehensive income (loss), net of tax expense |
OtherComprehensiveIncomeLossTax
|
$579.00K | USD | 1 Quarter |
| Other comprehensive income (loss), net of tax expense |
OtherComprehensiveIncomeLossTax
|
$1.49M | USD | 1 Quarter |
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.50B | USD | Point-in-time |
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.54B | USD | Point-in-time |
| Beginning balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
| Net income |
ProfitLoss
|
$56.40M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$58.53M | USD | 1 Quarter |
| Distributions to noncontrolling owners |
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
$941.00K | USD | 1 Quarter |
| Distributions to noncontrolling owners |
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
$1.05M | USD | 1 Quarter |
| Other comprehensive income (loss), net of tax |
OtherComprehensiveIncomeLossNetOfTax
|
$-44.40M | USD | 1 Quarter |
| Other comprehensive income (loss), net of tax |
OtherComprehensiveIncomeLossNetOfTax
|
$-29.82M | USD | 1 Quarter |
| Common stock-based award activity |
StockIssuedDuringPeriodValueShareBasedCompensation
|
$1.59M | USD | 1 Quarter |
| Common stock-based award activity |
StockIssuedDuringPeriodValueShareBasedCompensation
|
$1.73M | USD | 1 Quarter |
| Transfers from Parent, net |
MembersEquityTransfersToFromParentNet
|
$55.07M | USD | 1 Quarter |
| Transfers from Parent, net |
MembersEquityTransfersToFromParentNet
|
$-2.85M | USD | 1 Quarter |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.50B | USD | Point-in-time |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.54B | USD | Point-in-time |
| Ending balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
Comprehensive Income
18 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
ProfitLoss
|
$56.40M | USD | 1 Quarter |
| Foreign currency translation, tax expense |
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
$338.00K | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$58.53M | USD | 1 Quarter |
| Foreign currency translation, tax expense |
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
$1.49M | USD | 1 Quarter |
| Amortization of pension and other post-retirement net actuarial gain, tax expense |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
|
- | USD | 1 Quarter |
| Amortization of pension and other post-retirement net actuarial gain, tax expense |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
|
$241.00K | USD | 1 Quarter |
| Foreign currency translation, net of tax expense of $338 and $1,491 |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$-30.04M | USD | 1 Quarter |
| Foreign currency translation, net of tax expense of $338 and $1,491 |
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
$-45.19M | USD | 1 Quarter |
| Amortization of pension and other post-retirement net actuarial gain, net of tax expense of $241 and $0 |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
|
$-786.00K | USD | 1 Quarter |
| Amortization of pension and other post-retirement net actuarial gain, net of tax expense of $241 and $0 |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
|
$-221.00K | USD | 1 Quarter |
| Other comprehensive loss |
OtherComprehensiveIncomeLossNetOfTax
|
$-44.40M | USD | 1 Quarter |
| Other comprehensive loss |
OtherComprehensiveIncomeLossNetOfTax
|
$-29.82M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$28.72M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$12.00M | USD | 1 Quarter |
| Less: comprehensive income attributable to noncontrolling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$458.00K | USD | 1 Quarter |
| Less: comprehensive income attributable to noncontrolling interest |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$564.00K | USD | 1 Quarter |
| Comprehensive income attributable to ESAB Corporation |
ComprehensiveIncomeNetOfTax
|
$11.54M | USD | 1 Quarter |
| Comprehensive income attributable to ESAB Corporation |
ComprehensiveIncomeNetOfTax
|
$28.15M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.