10-Q Filing

DNOW INC. CIK: 1599617 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000950170-22-007607`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	dnow-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 26 Cash Flow Statement 44 Stockholders Equity 16 Comprehensive Income 6

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$293.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$313.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$304.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$341.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$296.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$250.00M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$883.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	110.67M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	110.56M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$946.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$111.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$106.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	110.67M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	110.56M	shares	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$1.00M	USD	Point-in-time
Goodwill	`Goodwill`	$67.00M	USD	Point-in-time
Goodwill	`Goodwill`	$67.00M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$9.00M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$8.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.00M	USD	Point-in-time
Total assets	`Assets`	$1.16B	USD	Point-in-time
Total assets	`Assets`	$1.10B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$279.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$235.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$109.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$112.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$22.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$369.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$395.00M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$15.00M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$17.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	-	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$392.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$416.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - par value $0.01; 20 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - par value $0.01; 20 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock - par value $0.01; 330 million shares authorized; 110,669,457 and 110,558,831 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock - par value $0.01; 330 million shares authorized; 110,669,457 and 110,558,831 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.06B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.06B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.17B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.20B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-145.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-147.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$746.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$712.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.16B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.10B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$361.00M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$473.00M	USD	1 Quarter
Cost of products	`CostOfGoodsAndServicesSold`	$286.00M	USD	1 Quarter
Cost of products	`CostOfGoodsAndServicesSold`	$366.00M	USD	1 Quarter
Warehousing, selling and administrative	`WarehousingSellingAndAdministrativeExpense`	$79.00M	USD	1 Quarter
Warehousing, selling and administrative	`WarehousingSellingAndAdministrativeExpense`	$84.00M	USD	1 Quarter
Impairment and other charges	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment and other charges	`AssetImpairmentCharges`	$4.00M	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$-8.00M	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$23.00M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.00M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$10.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$33.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$3.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$30.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter
Diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	110.07M	shares	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	110.60M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.07M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.82M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-10.00M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$30.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.00M	USD	1 Quarter
Provision for inventory	`InventoryWriteDown`	$5.00M	USD	1 Quarter
Provision for inventory	`InventoryWriteDown`	$2.00M	USD	1 Quarter
Impairment and other charges	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment and other charges	`AssetImpairmentCharges`	$4.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$5.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-7.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$45.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$36.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$47.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-11.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Accounts payable, accrued liabilities and other, net	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherNet`	$-20.00M	USD	1 Quarter
Accounts payable, accrued liabilities and other, net	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherNet`	$-31.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.00M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$6.00M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.00M	USD	1 Quarter
Payments relating to finance leases and other, net	`PaymentsRelatingToFinanceLeasesAndOtherNet`	$1.00M	USD	1 Quarter
Payments relating to finance leases and other, net	`PaymentsRelatingToFinanceLeasesAndOtherNet`	$2.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.00M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.00M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-13.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-20.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$293.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$313.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$374.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$387.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$313.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$374.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$293.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$387.00M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$699.00M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$692.00M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$746.00M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$712.00M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$30.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.00M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.00M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.00M	USD	1 Quarter
Shares withheld for taxes	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-1.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$1.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$2.00M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$699.00M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$692.00M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$746.00M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$712.00M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$30.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-9.00M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$32.00M	USD	1 Quarter

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