10-Q Filing

TTM TECHNOLOGIES INC CIK: 1116942 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-166200`
Period End Date	20170331
Filing Date	20170511
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	ttmi-20170403.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 39 Cash Flow Statement 49 Comprehensive Income 18

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$259.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	101.74M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$282.87M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	100.40M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$256.28M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$432.79M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	100.40M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$419.34M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	101.74M	shares	Point-in-time
Inventories	`InventoryNet`	$275.09M	USD	Point-in-time
Inventories	`InventoryNet`	$269.21M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$54.56M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$49.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.01B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.03B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$976.45M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$966.64M	USD	Point-in-time
Goodwill	`Goodwill`	$372.59M	USD	Point-in-time
Goodwill	`Goodwill`	$372.61M	USD	Point-in-time
Definite-lived intangibles, net	`FiniteLivedIntangibleAssetsNet`	$120.69M	USD	Point-in-time
Definite-lived intangibles, net	`FiniteLivedIntangibleAssetsNet`	$126.61M	USD	Point-in-time
Deposits and other non-current assets	`OtherAssetsNoncurrent`	$21.38M	USD	Point-in-time
Deposits and other non-current assets	`OtherAssetsNoncurrent`	$33.23M	USD	Point-in-time
Assets, Total	`Assets`	$2.53B	USD	Point-in-time
Assets, Total	`Assets`	$2.50B	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$110.65M	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$160.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$371.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$362.14M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$75.75M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$97.17M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$109.63M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$123.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$689.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$721.58M	USD	Point-in-time
Long-term debt, net of discount and issuance costs	`LongTermDebtNoncurrent`	$909.03M	USD	Point-in-time
Long-term debt, net of discount and issuance costs	`LongTermDebtNoncurrent`	$861.39M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$74.59M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$72.86M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$981.89M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$935.98M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 300,000 shares authorized, 101,742 and 100,396 shares issued and outstanding in 2017 and 2016, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.001 par value; 300,000 shares authorized, 101,742 and 100,396 shares issued and outstanding in 2017 and 2016, respectively	`CommonStockValue`	$102.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$758.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$762.14M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$107.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$74.79M	USD	Point-in-time
Statutory surplus reserve	`StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance`	$31.85M	USD	Point-in-time
Statutory surplus reserve	`StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance`	$31.85M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-44.33M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-37.60M	USD	Point-in-time
Total TTM Technologies, Inc. stockholders' equity	`StockholdersEquity`	$820.85M	USD	Point-in-time
Total TTM Technologies, Inc. stockholders' equity	`StockholdersEquity`	$864.24M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$8.28M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$8.44M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$829.12M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$872.68M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$2.53B	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$2.50B	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$583.26M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$625.25M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$499.69M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$520.23M	USD	1 Quarter
Gross profit	`GrossProfit`	$83.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$105.02M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$17.31M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$16.66M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$36.21M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$29.27M	USD	1 Quarter
Amortization of definite-lived intangibles	`AmortizationOfIntangibleAssets`	$5.95M	USD	1 Quarter
Amortization of definite-lived intangibles	`AmortizationOfIntangibleAssets`	$5.91M	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$609.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$1.86M	USD	1 Quarter
Impairment of long-lived assets	`TangibleAssetImpairmentCharges`	$3.35M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$64.66M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$52.45M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$52.57M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$18.90M	USD	1 Quarter
Interest expense	`InterestExpense`	$21.78M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.60M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.71M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.21M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-15.31M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-20.57M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.67M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$37.26M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$4.14M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$5.48M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$33.12M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-7.15M	USD	1 Quarter
Less: Net income attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$114.00K	USD	1 Quarter
Less: Net income attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$166.00K	USD	1 Quarter
Net income (loss) attributable to TTM Technologies, Inc. stockholders	`NetIncomeLoss`	$-7.26M	USD	1 Quarter
Net income (loss) attributable to TTM Technologies, Inc. stockholders	`NetIncomeLoss`	$32.96M	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Diluted earnings (loss) per share	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Diluted earnings (loss) per share	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-7.15M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$33.12M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$36.08M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$40.23M	USD	1 Quarter
Amortization of definite-lived intangible assets	`AmortizationOfIntangibleAssets`	$5.95M	USD	1 Quarter
Amortization of definite-lived intangible assets	`AmortizationOfIntangibleAssets`	$5.91M	USD	1 Quarter
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$6.12M	USD	1 Quarter
Amortization of debt discount and debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$2.60M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.63M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.25M	USD	1 Quarter
Impairment of long-lived assets	`TangibleAssetImpairmentCharges`	$3.35M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$394.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$542.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-13.45M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-23.75M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.88M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-4.37M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.58M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-6.99M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-48.69M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.47M	USD	1 Quarter
Accrued salaries, wages and benefits and other accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-19.80M	USD	1 Quarter
Accrued salaries, wages and benefits and other accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-26.66M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$49.58M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$17.89M	USD	1 Quarter
Purchase of property, plant and equipment and equipment deposits	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.12M	USD	1 Quarter
Purchase of property, plant and equipment and equipment deposits	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.26M	USD	1 Quarter
Proceeds from sale of property, plant and equipment and assets held for sale	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$9.88M	USD	1 Quarter
Release of restricted cash to cash and cash equivalents	`IncreaseDecreaseInRestrictedCash`	$-3.53M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-16.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-23.38M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$74.00K	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$76.48M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$74.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-76.48M	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-246.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$314.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-75.42M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.59M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$256.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$282.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$259.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$183.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$256.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$282.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$259.10M	USD	Point-in-time
Purchases of property, plant and equipment recorded in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$44.56M	USD	1 Quarter
Purchases of property, plant and equipment recorded in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$23.99M	USD	1 Quarter

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-7.15M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$33.12M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-3.87M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$6.62M	USD	1 Quarter
Unrealized gain (loss) on effective cash flow hedges during the period, net	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$68.00K	USD	1 Quarter
Unrealized gain (loss) on effective cash flow hedges during the period, net	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-7.00K	USD	1 Quarter
Loss realized in net earnings	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-44.00K	USD	1 Quarter
Loss realized in net earnings	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-42.00K	USD	1 Quarter
Net	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$112.00K	USD	1 Quarter
Net	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$35.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$6.73M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.84M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$39.86M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-10.99M	USD	1 Quarter
Less: Comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$114.00K	USD	1 Quarter
Less: Comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$166.00K	USD	1 Quarter
Comprehensive income (loss) attributable to TTM Technologies, Inc. stockholders	`ComprehensiveIncomeNetOfTax`	$39.69M	USD	1 Quarter
Comprehensive income (loss) attributable to TTM Technologies, Inc. stockholders	`ComprehensiveIncomeNetOfTax`	$-11.10M	USD	1 Quarter

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