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10-Q Filing

BENCHMARK ELECTRONICS INC CIK: 863436 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000863436-18-000015
Period End Date 20180331
Filing Date 20180509
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance bhe-20180331.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts, accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $105.00K USD Point-in-time
Allowance for doubtful accounts, accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $105.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $676.33M USD Point-in-time
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $432.04M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $752.48M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $742.55M USD Point-in-time
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $438.44M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $681.43M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $105 and $105, respectively AccountsReceivableNetCurrent $436.56M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $105 and $105, respectively AccountsReceivableNetCurrent $403.77M USD Point-in-time
Preferred shares, par value PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Preferred shares, par value PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $147.62M USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $146.50M USD Point-in-time
Preferred shares, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred shares, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Inventories InventoryNet $268.92M USD Point-in-time
Inventories InventoryNet $305.98M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $36.02M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $31.73M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $66.00K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Income taxes receivable IncomeTaxesReceivable $120.00K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Total current assets AssetsCurrent $1.57B USD Point-in-time
Common stock, issued CommonStockSharesIssued 49.14M shares Point-in-time
Total current assets AssetsCurrent $1.63B USD Point-in-time
Common stock, issued CommonStockSharesIssued 47.57M shares Point-in-time
Property, plant and equipment, net of accumulated depreciation of $438,435 and $432,043, respectively PropertyPlantAndEquipmentNet $186.47M USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 47.57M shares Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 49.14M shares Point-in-time
Property, plant and equipment, net of accumulated depreciation of $438,435 and $432,043, respectively PropertyPlantAndEquipmentNet $200.42M USD Point-in-time
Goodwill Goodwill $191.62M USD Point-in-time
Goodwill Goodwill $191.62M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $4.03M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $4.03M USD Point-in-time
Other, net OtherAssetsNoncurrent $96.44M USD Point-in-time
Other, net OtherAssetsNoncurrent $96.52M USD Point-in-time
Total assets Assets $2.06B USD Point-in-time
Total assets Assets $2.11B USD Point-in-time
Current installments of long-term debt and capital lease obligations LongTermDebtAndCapitalLeaseObligationsCurrent $18.27M USD Point-in-time
Current installments of long-term debt and capital lease obligations LongTermDebtAndCapitalLeaseObligationsCurrent $19.75M USD Point-in-time
Accounts payable AccountsPayableCurrent $368.62M USD Point-in-time
Accounts payable AccountsPayableCurrent $362.70M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $11.66M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $12.81M USD Point-in-time
Accrued liabilities OtherLiabilitiesCurrent $85.68M USD Point-in-time
Accrued liabilities OtherLiabilitiesCurrent $83.65M USD Point-in-time
Total current liabilities LiabilitiesCurrent $478.32M USD Point-in-time
Total current liabilities LiabilitiesCurrent $484.83M USD Point-in-time
Long-term debt and capital lease obligations, less current installments LongTermDebtAndCapitalLeaseObligations $193.41M USD Point-in-time
Long-term debt and capital lease obligations, less current installments LongTermDebtAndCapitalLeaseObligations $187.60M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $90.27M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $89.75M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $8.69M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $47.97M USD Point-in-time
Common stock, $0.10 par value; 145,000 shares authorized; issued and outstanding - 47,572 and 49,143, respectively CommonStockValue $4.91M USD Point-in-time
Common stock, $0.10 par value; 145,000 shares authorized; issued and outstanding - 47,572 and 49,143, respectively CommonStockValue $4.76M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $608.09M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $634.19M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $640.47M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $708.18M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-8.15M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.98M USD Point-in-time
Total shareholders' equity StockholdersEquity $1.34B USD Point-in-time
Total shareholders' equity StockholdersEquity $1.25B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.06B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.11B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Revenues Revenues $557.90M USD 1 Quarter
Revenues Revenues $608.14M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $549.82M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $510.37M USD 1 Quarter
Gross profit GrossProfit $47.53M USD 1 Quarter
Gross profit GrossProfit $58.32M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $35.75M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $32.65M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $2.37M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $2.48M USD 1 Quarter
Restructuring charges and other costs RestructuringChargesAndOtherCosts $1.51M USD 1 Quarter
Restructuring charges and other costs RestructuringChargesAndOtherCosts $2.23M USD 1 Quarter
Income from operations OperatingIncomeLoss $10.89M USD 1 Quarter
Income from operations OperatingIncomeLoss $17.97M USD 1 Quarter
Interest expense InterestExpense $2.43M USD 1 Quarter
Interest expense InterestExpense $2.23M USD 1 Quarter
Interest income InvestmentIncomeInterest $1.93M USD 1 Quarter
Interest income InvestmentIncomeInterest $1.07M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $43.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-81.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $17.52M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $9.66M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.10M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $41.16M USD 1 Quarter
Net income (loss) NetIncomeLoss $8.55M USD 1 Quarter
Net income (loss) NetIncomeLoss $-23.64M USD 1 Quarter
Basic EarningsPerShareBasic $0.17 USD 1 Quarter
Basic EarningsPerShareBasic $-0.49 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.17 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.49 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 49.51M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 48.52M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 50.08M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 48.52M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $8.55M USD 1 Quarter
Net income (loss) NetIncomeLoss $-23.64M USD 1 Quarter
Depreciation Depreciation $9.32M USD 1 Quarter
Depreciation Depreciation $9.54M USD 1 Quarter
Amortization AdjustmentForAmortization $2.95M USD 1 Quarter
Amortization AdjustmentForAmortization $2.84M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $74.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $39.00M USD 1 Quarter
Asset impairments AssetImpairmentCharges - USD 1 Quarter
Asset impairments AssetImpairmentCharges - USD 1 Quarter
Gain on the sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $197.00K USD 1 Quarter
Gain on the sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $46.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.16M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.87M USD 1 Quarter
Excess tax benefit from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities - USD 1 Quarter
Excess tax benefit from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities - USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-59.69M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-33.42M USD 1 Quarter
Contract assets IncreaseDecreaseInContractReceivablesNet $1.13M USD 1 Quarter
Contract assets IncreaseDecreaseInContractReceivablesNet $-6.56M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $38.21M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $29.58M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $3.29M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-5.94M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $2.34M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $16.23M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $5.26M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-9.12M USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $716.00K USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $187.00K USD 1 Quarter
Net cash provided by operations NetCashProvidedByUsedInOperatingActivities $24.53M USD 1 Quarter
Net cash provided by operations NetCashProvidedByUsedInOperatingActivities $77.91M USD 1 Quarter
Proceeds from sales of investments at par ProceedsFromSaleAndMaturityOfMarketableSecurities - USD 1 Quarter
Proceeds from sales of investments at par ProceedsFromSaleAndMaturityOfMarketableSecurities - USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $7.01M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $20.06M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $57.00K USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $217.00K USD 1 Quarter
Additions to purchased software PaymentsForSoftware $818.00K USD 1 Quarter
Additions to purchased software PaymentsForSoftware $566.00K USD 1 Quarter
Business acquisitions, net of cash acquired ProceedsFromPreviousAcquisition - USD 1 Quarter
Business acquisitions, net of cash acquired ProceedsFromPreviousAcquisition - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $108.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $179.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-7.47M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-21.00M USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $5.14M USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $3.08M USD 1 Quarter
Excess tax benefits from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities - USD 1 Quarter
Excess tax benefits from stock-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities - USD 1 Quarter
Employee taxes paid for shares withheld PaymentsRelatedToTaxWithholdingForShareBasedCompensation $763.00K USD 1 Quarter
Employee taxes paid for shares withheld PaymentsRelatedToTaxWithholdingForShareBasedCompensation $358.00K USD 1 Quarter
Borrowings under credit agreement ProceedsFromIssuanceOfMediumTermNotes - USD 1 Quarter
Borrowings under credit agreement ProceedsFromIssuanceOfMediumTermNotes $50.00M USD 1 Quarter
Principal payments on long-term debt and capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $3.08M USD 1 Quarter
Principal payments on long-term debt and capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $54.55M USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $58.38M USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $1.00M USD 1 Quarter
Equity forward contract related to accelerated share repurchase PaymentsForRepurchaseOfOtherEquity $10.00M USD 1 Quarter
Equity forward contract related to accelerated share repurchase PaymentsForRepurchaseOfOtherEquity - USD 1 Quarter
Debt issuance costs PaymentsOfFinancingCosts $434.00K USD 1 Quarter
Debt issuance costs PaymentsOfFinancingCosts - USD 1 Quarter
Net provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-70.62M USD 1 Quarter
Net provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $267.00K USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashAndCashEquivalents $866.00K USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashAndCashEquivalents $341.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-66.22M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $71.04M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $676.33M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $752.48M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $742.55M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $681.43M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $752.48M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $742.55M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $676.33M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $681.43M USD Point-in-time
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Balances, shares CommonStockSharesOutstanding 49.14M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 47.57M shares Point-in-time
Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.34B USD Point-in-time
Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.25B USD Point-in-time
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.87M USD 1 Quarter
Shares repurchased and retired, shares StockRepurchasedAndRetiredDuringPeriodShares 1.91M shares 1 Quarter
Shares repurchased and retired, value StockRepurchasedAndRetiredDuringPeriodValue $68.38M USD 1 Quarter
Stock options exercised, shares StockIssuedDuringPeriodSharesStockOptionsExercised 168,000.00 shares 1 Quarter
Stock options exercised, value StockIssuedDuringPeriodValueStockOptionsExercised $3.08M USD 1 Quarter
Vesting of restricted stock units, shares StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures 198,000.00 shares 1 Quarter
Vesting of restricted stock units, value StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Shares withheld for taxes, shares RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings 26,000.00 shares 1 Quarter
Shares withheld for taxes, value RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-763.00K USD 1 Quarter
Dividend Dividends $7.14M USD 1 Quarter
Net income (loss) NetIncomeLoss $8.55M USD 1 Quarter
Net income (loss) NetIncomeLoss $-23.64M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $2.17M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $964.00K USD 1 Quarter
Balances, shares CommonStockSharesOutstanding 49.14M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 47.57M shares Point-in-time
Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.34B USD Point-in-time
Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.25B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $8.55M USD 1 Quarter
Net income (loss) NetIncomeLoss $-23.64M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $608.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.33M USD 1 Quarter
Unrealized gain on investments, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax - USD 1 Quarter
Unrealized gain on investments, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $4.00K USD 1 Quarter
Unrealized gain on derivative, net of tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $833.00K USD 1 Quarter
Unrealized gain on derivative, net of tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $365.00K USD 1 Quarter
Other OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $-13.00K USD 1 Quarter
Other OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax - USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $2.17M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $964.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-21.48M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $9.52M USD 1 Quarter

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

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