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10-Q Filing

QUAD/GRAPHICS, INC. CIK: 1481792 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001481792-14-000021
Period End Date 20140331
Filing Date 20140507
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance quad-20140331.xml
Filing Contents
Balance Sheet 76 line items
Line Item Tag Value Unit Period
Allowances for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $58.90M USD Point-in-time
Allowances for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $60.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $24.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $16.90M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.10M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $13.10M USD Point-in-time
Receivables, less allowances for doubtful accounts of $60.5 million at March 31, 2014 and $58.9 million at December 31, 2013 ReceivablesNetCurrent $698.90M USD Point-in-time
Receivables, less allowances for doubtful accounts of $60.5 million at March 31, 2014 and $58.9 million at December 31, 2013 ReceivablesNetCurrent $628.90M USD Point-in-time
Inventories InventoryNet $272.50M USD Point-in-time
Inventories InventoryNet $270.20M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $37.20M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $42.80M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $48.10M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $52.90M USD Point-in-time
Short-term restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $4.50M USD Point-in-time
Short-term restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $7.30M USD Point-in-time
Total current assets AssetsCurrent $1.07B USD Point-in-time
Total current assets AssetsCurrent $1.02B USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $1.91B USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $1.93B USD Point-in-time
Goodwill Goodwill $772.90M USD Point-in-time
Goodwill Goodwill $773.10M USD Point-in-time
Other intangible assetsnet IntangibleAssetsNetExcludingGoodwill $211.30M USD Point-in-time
Other intangible assetsnet IntangibleAssetsNetExcludingGoodwill $221.80M USD Point-in-time
Long-term restricted cash RestrictedCashAndCashEquivalentsNoncurrent $48.60M USD Point-in-time
Long-term restricted cash RestrictedCashAndCashEquivalentsNoncurrent $51.50M USD Point-in-time
Equity method investments in unconsolidated entities EquityMethodInvestments $55.70M USD Point-in-time
Equity method investments in unconsolidated entities EquityMethodInvestments $57.10M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $62.40M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $66.70M USD Point-in-time
Total assets Assets $4.08B USD Point-in-time
Total assets Assets $4.17B USD Point-in-time
Accounts payable AccountsPayableCurrent $401.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $352.90M USD Point-in-time
Amounts owing in satisfaction of bankruptcy claims AmountsOwingInSatisfactionOfBankruptcyClaims $2.50M USD Point-in-time
Amounts owing in satisfaction of bankruptcy claims AmountsOwingInSatisfactionOfBankruptcyClaims $2.10M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $350.70M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $312.70M USD Point-in-time
Short-term debt and current portion of long-term debt LongTermDebtCurrent $132.90M USD Point-in-time
Short-term debt and current portion of long-term debt LongTermDebtCurrent $127.60M USD Point-in-time
Current portion of capital lease obligations CapitalLeaseObligationsCurrent $5.90M USD Point-in-time
Current portion of capital lease obligations CapitalLeaseObligationsCurrent $7.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $888.80M USD Point-in-time
Total current liabilities LiabilitiesCurrent $806.50M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.30B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.27B USD Point-in-time
Unsecured notes to be issued UnsecuredNotesToBeIssued $18.00M USD Point-in-time
Unsecured notes to be issued UnsecuredNotesToBeIssued $17.90M USD Point-in-time
Capital lease obligations CapitalLeaseObligationsNoncurrent $11.90M USD Point-in-time
Capital lease obligations CapitalLeaseObligationsNoncurrent $6.50M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $395.20M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $395.90M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $287.80M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $303.90M USD Point-in-time
Total liabilities Liabilities $2.88B USD Point-in-time
Total liabilities Liabilities $2.82B USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Preferred stock PreferredStockValue - USD Point-in-time
Preferred stock PreferredStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $960.10M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $983.10M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $248.80M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $223.50M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $558.80M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $535.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.60M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-7.30M USD Point-in-time
Quad/Graphics common stock and other equity StockholdersEquity $1.29B USD Point-in-time
Quad/Graphics common stock and other equity StockholdersEquity $1.27B USD Point-in-time
Noncontrolling interests MinorityInterest $-1.30M USD Point-in-time
Noncontrolling interests MinorityInterest - USD Point-in-time
Total common stock and other equity and noncontrolling interests StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.29B USD Point-in-time
Total common stock and other equity and noncontrolling interests StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.27B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $4.17B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $4.08B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Products SalesRevenueGoodsNet $982.50M USD 1 Quarter
Products SalesRevenueGoodsNet $953.70M USD 1 Quarter
Services SalesRevenueServicesNet $149.10M USD 1 Quarter
Services SalesRevenueServicesNet $147.00M USD 1 Quarter
Total net sales SalesRevenueNet $1.10B USD 1 Quarter
Total net sales SalesRevenueNet $1.13B USD 1 Quarter
Products CostOfGoodsSold $783.60M USD 1 Quarter
Products CostOfGoodsSold $801.40M USD 1 Quarter
Services CostOfServices $108.40M USD 1 Quarter
Services CostOfServices $109.00M USD 1 Quarter
Total cost of sales CostOfGoodsAndServicesSold $892.60M USD 1 Quarter
Total cost of sales CostOfGoodsAndServicesSold $909.80M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $103.50M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $105.90M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $88.80M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $83.80M USD 1 Quarter
Restructuring, impairment and transaction-related charges RestructuringSettlementAndImpairmentProvisions $11.90M USD 1 Quarter
Restructuring, impairment and transaction-related charges RestructuringSettlementAndImpairmentProvisions $25.90M USD 1 Quarter
Total operating expenses CostsAndExpenses $1.09B USD 1 Quarter
Total operating expenses CostsAndExpenses $1.13B USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-900.00K USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $11.00M USD 1 Quarter
Interest expense InterestExpense $21.90M USD 1 Quarter
Interest expense InterestExpense $20.90M USD 1 Quarter
Loss before income taxes and equity in earnings (loss) of unconsolidated entities IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-22.80M USD 1 Quarter
Loss before income taxes and equity in earnings (loss) of unconsolidated entities IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-9.90M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-1.20M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-8.50M USD 1 Quarter
Loss before equity in earnings (loss) of unconsolidated entities IncomeLossBeforeEquityinEarningsLossofUnconsolidatedEntities $-14.30M USD 1 Quarter
Loss before equity in earnings (loss) of unconsolidated entities IncomeLossBeforeEquityinEarningsLossofUnconsolidatedEntities $-8.70M USD 1 Quarter
Equity in earnings (loss) of unconsolidated entities IncomeLossFromEquityMethodInvestments $200.00K USD 1 Quarter
Equity in earnings (loss) of unconsolidated entities IncomeLossFromEquityMethodInvestments $-400.00K USD 1 Quarter
Net loss ProfitLoss $-9.10M USD 1 Quarter
Net loss ProfitLoss $-14.10M USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-100.00K USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-300.00K USD 1 Quarter
Net loss attributable to Quad/Graphics common shareholders NetIncomeLoss $-14.00M USD 1 Quarter
Net loss attributable to Quad/Graphics common shareholders NetIncomeLoss $-8.80M USD 1 Quarter
Loss Per Share, Basic and Diluted attributable to Quad/Graphics common shareholders EarningsPerShareBasicAndDiluted $-0.31 USD 1 Quarter
Loss Per Share, Basic and Diluted attributable to Quad/Graphics common shareholders EarningsPerShareBasicAndDiluted $-0.19 USD 1 Quarter
Cash dividends paid per common share for all classes of common shares CommonStockDividendsPerShareCashPaid $0.30 USD 1 Quarter
Cash dividends paid per common share for all classes of common shares CommonStockDividendsPerShareCashPaid $0.30 USD 1 Quarter
Basic and diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted 46.80M shares 1 Quarter
Basic and diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted 47.40M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-9.10M USD 1 Quarter
Net loss ProfitLoss $-14.10M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $88.80M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $83.80M USD 1 Quarter
Impairment charges AssetImpairmentCharges $3.70M USD 1 Quarter
Impairment charges AssetImpairmentCharges $1.10M USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCostsAndDiscounts $1.00M USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCostsAndDiscounts $1.10M USD 1 Quarter
Stock-based compensation charges ShareBasedCompensation $5.20M USD 1 Quarter
Stock-based compensation charges ShareBasedCompensation $4.20M USD 1 Quarter
Gain on sales or disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $100.00K USD 1 Quarter
Gain on sales or disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-8.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-3.70M USD 1 Quarter
Equity in (earnings) loss of unconsolidated entities IncomeLossFromEquityMethodInvestments $200.00K USD 1 Quarter
Equity in (earnings) loss of unconsolidated entities IncomeLossFromEquityMethodInvestments $-400.00K USD 1 Quarter
Dividends from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $5.00M USD 1 Quarter
Dividends from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions - USD 1 Quarter
Changes in operating assets and liabilitiesnet of acquisitions IncreaseDecreaseInOtherOperatingCapitalNet $-40.10M USD 1 Quarter
Changes in operating assets and liabilitiesnet of acquisitions IncreaseDecreaseInOtherOperatingCapitalNet $44.80M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $33.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $121.40M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $45.80M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $28.30M USD 1 Quarter
Cost investment in unconsolidated entities PaymentsToAcquireCostMethodInvestments $4.10M USD 1 Quarter
Cost investment in unconsolidated entities PaymentsToAcquireCostMethodInvestments $300.00K USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $200.00K USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $5.40M USD 1 Quarter
Transfers from restricted cash IncreaseDecreaseInRestrictedCash $-100.00K USD 1 Quarter
Transfers from restricted cash IncreaseDecreaseInRestrictedCash $-4.20M USD 1 Quarter
Acquisition of businessesnet of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisition of businessesnet of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $237.40M USD 1 Quarter
Payments to Acquire Business Two, Net of Cash Acquired PaymentsToAcquireBusinessTwoNetOfCashAcquired $1.50M USD 1 Quarter
Payments to Acquire Business Two, Net of Cash Acquired PaymentsToAcquireBusinessTwoNetOfCashAcquired $8.90M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-257.90M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-58.50M USD 1 Quarter
Payments of long-term debt RepaymentsOfOtherLongTermDebt $10.20M USD 1 Quarter
Payments of long-term debt RepaymentsOfOtherLongTermDebt $16.30M USD 1 Quarter
Payments of capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $2.60M USD 1 Quarter
Payments of capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $1.80M USD 1 Quarter
Borrowings on revolving credit facilities ProceedsFromLongTermLinesOfCredit $419.60M USD 1 Quarter
Borrowings on revolving credit facilities ProceedsFromLongTermLinesOfCredit $487.20M USD 1 Quarter
Payments on revolving credit facilities RepaymentsOfLongTermLinesOfCredit $314.40M USD 1 Quarter
Payments on revolving credit facilities RepaymentsOfLongTermLinesOfCredit $362.80M USD 1 Quarter
Bankruptcy claim payments on unsecured notes to be issued BankruptcyClaimPaymentsOnUnsecuredNotesToBeIssued $4.20M USD 1 Quarter
Bankruptcy claim payments on unsecured notes to be issued BankruptcyClaimPaymentsOnUnsecuredNotesToBeIssued $100.00K USD 1 Quarter
Sale of stock for options exercised ProceedsFromIssuanceOfCommonStock $800.00K USD 1 Quarter
Sale of stock for options exercised ProceedsFromIssuanceOfCommonStock $500.00K USD 1 Quarter
Shares withheld from employees for the tax obligation on equity grants PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.00M USD 1 Quarter
Shares withheld from employees for the tax obligation on equity grants PaymentsRelatedToTaxWithholdingForShareBasedCompensation - USD 1 Quarter
Payment of cash dividends PaymentsOfDividends $14.70M USD 1 Quarter
Payment of cash dividends PaymentsOfDividends $14.00M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $23.70M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $142.30M USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $1.50M USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $1.80M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease - USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $7.30M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $24.20M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $16.90M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $13.10M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $13.10M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $24.20M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $16.90M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $13.10M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $13.10M USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-9.10M USD 1 Quarter
Net loss ProfitLoss $-14.10M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-2.30M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-800.00K USD 1 Quarter
Pension and other postretirement benefit plan adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax $1.50M USD 1 Quarter
Pension and other postretirement benefit plan adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax $1.40M USD 1 Quarter
Other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-2.30M USD 1 Quarter
Other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-3.70M USD 1 Quarter
Income tax benefit related to items of other comprehensive loss OtherComprehensiveIncomeLossTax $-600.00K USD 1 Quarter
Income tax benefit related to items of other comprehensive loss OtherComprehensiveIncomeLossTax $-600.00K USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-1.70M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-3.10M USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-17.20M USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-10.80M USD 1 Quarter
Less: comprehensive loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-100.00K USD 1 Quarter
Less: comprehensive loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-300.00K USD 1 Quarter
Comprehensive loss attributable to Quad/Graphics common shareholders ComprehensiveIncomeNetOfTax $-10.50M USD 1 Quarter
Comprehensive loss attributable to Quad/Graphics common shareholders ComprehensiveIncomeNetOfTax $-17.10M USD 1 Quarter

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

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