10-Q Filing

MRC GLOBAL INC. CIK: 1439095 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001439095-17-000014`
Period End Date	20170331
Filing Date	20170505
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	mrc-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 31 Cash Flow Statement 61 Comprehensive Income 6

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, dividend rate	`PreferredStockDividendRatePercentage`	0.07	pure	1 Quarter
Preferred stock, dividend rate	`PreferredStockDividendRatePercentage`	0.07	pure	Annual
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`	363,000.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$121.00M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$69.00M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$109.00M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$93.00M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	363,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	363,000.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$399.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$476.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	363,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	363,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	363,000.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$561.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$567.00M	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
Other current assets	`OtherAssetsCurrent`	$48.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$48.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.12B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.18B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	102.53M	shares	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$19.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	102.93M	shares	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$22.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$140.00M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	8.54M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	7.68M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$135.00M	USD	Point-in-time
Goodwill, net	`Goodwill`	$483.00M	USD	Point-in-time
Goodwill, net	`Goodwill`	$482.00M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$411.00M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$400.00M	USD	Point-in-time
Total assets	`Assets`	$2.23B	USD	Point-in-time
Total assets	`Assets`	$2.16B	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$390.00M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$314.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$112.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$111.00M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$8.00M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$8.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$510.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$433.00M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$404.00M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$406.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$184.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$184.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$24.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$23.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
6.5% Series A Convertible Perpetual Preferred Stock, $0.01 par value; authorized 363,000 shares; 363,000 shares issued and outstanding	`PreferredStockValue`	$355.00M	USD	Point-in-time
6.5% Series A Convertible Perpetual Preferred Stock, $0.01 par value; authorized 363,000 shares; 363,000 shares issued and outstanding	`PreferredStockValue`	$355.00M	USD	Point-in-time
Common stock, $0.01 par value per share: 500 million shares authorized, 102,927,696 and 102,529,637 issued, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock, $0.01 par value per share: 500 million shares authorized, 102,927,696 and 102,529,637 issued, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.68B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.68B	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-574.00M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-574.00M	USD	Point-in-time
Less: Treasury stock at cost: 8,537,410 and 7,677,580 shares, respectively	`TreasuryStockValue`	$125.00M	USD	Point-in-time
Less: Treasury stock at cost: 8,537,410 and 7,677,580 shares, respectively	`TreasuryStockValue`	$107.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-228.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-234.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$752.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$763.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.23B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.16B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$783.00M	USD	1 Quarter
Sales	`SalesRevenueNet`	$862.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$722.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$650.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$133.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$140.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$126.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$137.00M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$14.00M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-4.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.00M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-5.00M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-8.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.00M	USD	1 Quarter
Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$6.00M	USD	1 Quarter
Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$6.00M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.00M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	-	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.14	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted income (loss) per common share	`EarningsPerShareDiluted`	$-0.14	USD	1 Quarter
Diluted income (loss) per common share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted-average common shares, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	94.80M	shares	1 Quarter
Weighted-average common shares, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	100.70M	shares	1 Quarter
Weighted-average common shares, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	100.70M	shares	1 Quarter
Weighted-average common shares, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	94.80M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-8.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.00M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$12.00M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$11.00M	USD	1 Quarter
Equity-based compensation expense	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Equity-based compensation expense	`ShareBasedCompensation`	$4.00M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$1.00M	USD	1 Quarter
Increase (decrease) in LIFO reserve	`InventoryLIFOReserveEffectOnIncomeNet`	$-3.00M	USD	1 Quarter
Increase (decrease) in LIFO reserve	`InventoryLIFOReserveEffectOnIncomeNet`	$1.00M	USD	1 Quarter
Foreign currency losses	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-2.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-3.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-67.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$75.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-24.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$2.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-5.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$74.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-22.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-13.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.00M	USD	1 Quarter
Net cash provided by operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$22.00M	USD	1 Quarter
Net cash provided by operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$58.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.00M	USD	1 Quarter
Proceeds from the disposition of non-core product line	`ProceedsFromSaleOfOtherAssetsInvestingActivities`	$48.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$38.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.00M	USD	1 Quarter
Payments on revolving credit facilities	`RepaymentsOfLinesOfCredit`	$23.00M	USD	1 Quarter
Payments on revolving credit facilities	`RepaymentsOfLinesOfCredit`	$14.00M	USD	1 Quarter
Proceeds from revolving credit facilities	`ProceedsFromLinesOfCredit`	$23.00M	USD	1 Quarter
Proceeds from revolving credit facilities	`ProceedsFromLinesOfCredit`	$14.00M	USD	1 Quarter
Payments on long term obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.00M	USD	1 Quarter
Payments on long term obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.00M	USD	1 Quarter
Purchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$38.00M	USD	1 Quarter
Purchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$18.00M	USD	1 Quarter
Dividends paid on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$6.00M	USD	1 Quarter
Dividends paid on preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$6.00M	USD	1 Quarter
Repurchases of shares to satisfy tax withholdings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-29.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-46.00M	USD	1 Quarter
(Decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$50.00M	USD	1 Quarter
(Decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.00M	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.00M	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.00M	USD	1 Quarter
Cash -- beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$121.00M	USD	Point-in-time
Cash -- beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.00M	USD	Point-in-time
Cash -- beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$109.00M	USD	Point-in-time
Cash -- beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$93.00M	USD	Point-in-time
Cash -- end of period	`CashAndCashEquivalentsAtCarryingValue`	$121.00M	USD	Point-in-time
Cash -- end of period	`CashAndCashEquivalentsAtCarryingValue`	$69.00M	USD	Point-in-time
Cash -- end of period	`CashAndCashEquivalentsAtCarryingValue`	$109.00M	USD	Point-in-time
Cash -- end of period	`CashAndCashEquivalentsAtCarryingValue`	$93.00M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$7.00M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$8.00M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.00M	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-8.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$6.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$16.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.00M	USD	1 Quarter

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