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10-Q Filing

QUAD/GRAPHICS, INC. CIK: 1481792 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001481792-18-000014
Period End Date 20180331
Filing Date 20180502
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance quad-20180331.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Allowances for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $28.00M USD Point-in-time
Allowances for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $28.90M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $19.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $30.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $10.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $64.40M USD Point-in-time
Receivables, less allowances for doubtful accounts of $28.0 million at March 31, 2018, and $28.9 million at December 31, 2017 ReceivablesNetCurrent $552.50M USD Point-in-time
Receivables, less allowances for doubtful accounts of $28.0 million at March 31, 2018, and $28.9 million at December 31, 2017 ReceivablesNetCurrent $531.30M USD Point-in-time
Inventories InventoryNet $269.20M USD Point-in-time
Inventories InventoryNet $246.50M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $55.40M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $45.10M USD Point-in-time
Total current assets AssetsCurrent $908.50M USD Point-in-time
Total current assets AssetsCurrent $886.10M USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $1.38B USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $1.35B USD Point-in-time
Goodwill Goodwill $88.00M USD Point-in-time
Goodwill Goodwill - USD Point-in-time
Other intangible assetsnet IntangibleAssetsNetExcludingGoodwill $116.60M USD Point-in-time
Other intangible assetsnet IntangibleAssetsNetExcludingGoodwill $43.40M USD Point-in-time
Equity method investment in unconsolidated entity EquityMethodInvestments $3.90M USD Point-in-time
Equity method investment in unconsolidated entity EquityMethodInvestments $3.60M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $96.40M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $119.30M USD Point-in-time
Total assets Assets $2.45B USD Point-in-time
Total assets Assets $2.54B USD Point-in-time
Accounts payable AccountsPayableCurrent $381.60M USD Point-in-time
Accounts payable AccountsPayableCurrent $388.60M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $316.70M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $283.20M USD Point-in-time
Short-term debt and current portion of long-term debt LongTermDebtCurrent $43.50M USD Point-in-time
Short-term debt and current portion of long-term debt LongTermDebtCurrent $42.00M USD Point-in-time
Current portion of capital lease obligations CapitalLeaseObligationsCurrent $5.60M USD Point-in-time
Current portion of capital lease obligations CapitalLeaseObligationsCurrent $5.70M USD Point-in-time
Total current liabilities LiabilitiesCurrent $721.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $745.90M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $970.30M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $903.50M USD Point-in-time
Capital lease obligations CapitalLeaseObligationsNoncurrent $13.70M USD Point-in-time
Capital lease obligations CapitalLeaseObligationsNoncurrent $13.30M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $41.90M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $44.70M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $225.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $224.90M USD Point-in-time
Total liabilities Liabilities $1.93B USD Point-in-time
Total liabilities Liabilities $1.97B 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 $861.10M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $850.40M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $17.90M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $52.80M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-162.90M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-176.40M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-124.40M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-152.60M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-144.50M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-118.80M USD Point-in-time
Quad/Graphics' shareholders' equity StockholdersEquity $538.70M USD Point-in-time
Quad/Graphics' shareholders' equity StockholdersEquity $522.40M USD Point-in-time
Noncontrolling interests MinorityInterest - USD Point-in-time
Noncontrolling interests MinorityInterest $30.00M USD Point-in-time
Total shareholders' equity and noncontrolling interests StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $568.70M USD Point-in-time
Total shareholders' equity and noncontrolling interests StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $522.40M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.54B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.45B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Products SalesRevenueGoodsNet $854.30M USD 1 Quarter
Products SalesRevenueGoodsNet $801.10M USD 1 Quarter
Services SalesRevenueServicesNet $144.30M USD 1 Quarter
Services SalesRevenueServicesNet $166.40M USD 1 Quarter
Total net sales SalesRevenueNet $967.50M USD 1 Quarter
Total net sales SalesRevenueNet $998.60M USD 1 Quarter
Products CostOfGoodsSold $682.40M USD 1 Quarter
Products CostOfGoodsSold $665.20M USD 1 Quarter
Services CostOfServices $127.20M USD 1 Quarter
Services CostOfServices $98.70M USD 1 Quarter
Total cost of sales CostOfGoodsAndServicesSold $792.40M USD 1 Quarter
Total cost of sales CostOfGoodsAndServicesSold $781.10M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $86.90M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $98.60M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $58.70M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $56.20M USD 1 Quarter
Restructuring, impairment and transaction-related charges RestructuringSettlementAndImpairmentProvisions $24.90M USD 1 Quarter
Restructuring, impairment and transaction-related charges RestructuringSettlementAndImpairmentProvisions $9.20M USD 1 Quarter
Total operating expenses CostsAndExpenses $947.60M USD 1 Quarter
Total operating expenses CostsAndExpenses $960.40M USD 1 Quarter
Operating income OperatingIncomeLoss $51.00M USD 1 Quarter
Operating income OperatingIncomeLoss $7.10M USD 1 Quarter
Interest expense InterestExpense $17.30M USD 1 Quarter
Interest expense InterestExpense $18.20M USD 1 Quarter
Net pension income NetPeriodicDefinedBenefitsExpenseReversalofExpenseExcludingServiceCostComponent $-2.60M USD 1 Quarter
Net pension income NetPeriodicDefinedBenefitsExpenseReversalofExpenseExcludingServiceCostComponent $-3.10M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-2.60M USD 1 Quarter
Earnings (loss) before income taxes and equity in (earnings) loss of unconsolidated entity IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $32.80M USD 1 Quarter
Earnings (loss) before income taxes and equity in (earnings) loss of unconsolidated entity IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-7.10M USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $6.70M USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $-3.30M USD 1 Quarter
Earnings (loss) before equity in (earnings) loss of unconsolidated entity IncomeLossBeforeEquityinEarningsLossofUnconsolidatedEntities $26.10M USD 1 Quarter
Earnings (loss) before equity in (earnings) loss of unconsolidated entity IncomeLossBeforeEquityinEarningsLossofUnconsolidatedEntities $-3.80M USD 1 Quarter
Equity in (earnings) loss of unconsolidated entity IncomeLossFromEquityMethodInvestments $-700.00K USD 1 Quarter
Equity in (earnings) loss of unconsolidated entity IncomeLossFromEquityMethodInvestments $300.00K USD 1 Quarter
Net earnings (loss) ProfitLoss $-3.50M USD 1 Quarter
Net earnings (loss) ProfitLoss $25.40M USD 1 Quarter
Net (earnings) loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net (earnings) loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net earnings (loss) attributable to Quad/Graphics common shareholders NetIncomeLoss $25.40M USD 1 Quarter
Net earnings (loss) attributable to Quad/Graphics common shareholders NetIncomeLoss $-3.50M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.52 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.07 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.07 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.49 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.30 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.30 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 49.10M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 50.10M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 51.50M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 50.10M shares 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net earnings (loss) ProfitLoss $-3.50M USD 1 Quarter
Net earnings (loss) ProfitLoss $25.40M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $58.70M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $56.20M USD 1 Quarter
Employee stock ownership plan contribution EmployeeStockOwnershipPlanESOPCompensationExpense - USD 1 Quarter
Employee stock ownership plan contribution EmployeeStockOwnershipPlanESOPCompensationExpense $22.30M USD 1 Quarter
Impairment charges OtherAssetImpairmentCharges $7.90M USD 1 Quarter
Impairment charges OtherAssetImpairmentCharges $400.00K USD 1 Quarter
Amortization of debt issuance costs and original issue discount AmortizationOfFinancingCostsAndDiscounts $900.00K USD 1 Quarter
Amortization of debt issuance costs and original issue discount AmortizationOfFinancingCostsAndDiscounts $900.00K USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-2.60M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $5.40M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $6.00M USD 1 Quarter
Gain from a property insurance claim InsuredEventGainLoss $17.20M USD 1 Quarter
Gain from a property insurance claim InsuredEventGainLoss - USD 1 Quarter
Gain on sale or disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $2.20M USD 1 Quarter
Gain on sale or disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $3.70M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $3.20M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $900.00K USD 1 Quarter
Equity in (earnings) loss of unconsolidated entity IncomeLossFromEquityMethodInvestments $-700.00K USD 1 Quarter
Equity in (earnings) loss of unconsolidated entity IncomeLossFromEquityMethodInvestments $300.00K USD 1 Quarter
Changes in operating assets and liabilitiesnet of acquisitions IncreaseDecreaseInOtherOperatingCapitalNet $68.20M USD 1 Quarter
Changes in operating assets and liabilitiesnet of acquisitions IncreaseDecreaseInOtherOperatingCapitalNet $30.90M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $2.20M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $63.30M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $23.40M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $24.20M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $4.30M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $10.80M USD 1 Quarter
Proceeds from property insurance claims ProceedsFromInsuranceSettlementInvestingActivities $3.00M USD 1 Quarter
Proceeds from property insurance claims ProceedsFromInsuranceSettlementInvestingActivities $13.40M USD 1 Quarter
Loan to an unconsolidated entity PaymentsForProceedsFromLoansReceivable $5.00M USD 1 Quarter
Loan to an unconsolidated entity PaymentsForProceedsFromLoansReceivable - USD 1 Quarter
Acquisition of businessesnet of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisition of businessesnet of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $73.90M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-14.60M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-80.40M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $375.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Payments of long-term debt RepaymentsOfOtherLongTermDebt $5.00M USD 1 Quarter
Payments of long-term debt RepaymentsOfOtherLongTermDebt $384.00M USD 1 Quarter
Payments of capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $1.60M USD 1 Quarter
Payments of capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $2.10M USD 1 Quarter
Borrowings on revolving credit facilities ProceedsFromLongTermLinesOfCredit $245.50M USD 1 Quarter
Borrowings on revolving credit facilities ProceedsFromLongTermLinesOfCredit $67.00M USD 1 Quarter
Payments on revolving credit facilities RepaymentsOfLongTermLinesOfCredit $174.00M USD 1 Quarter
Payments on revolving credit facilities RepaymentsOfLongTermLinesOfCredit $83.80M USD 1 Quarter
Payments of debt issuance costs and financing fees PaymentsOfDebtIssuanceCosts $4.60M USD 1 Quarter
Payments of debt issuance costs and financing fees PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $4.00M USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $1.30M USD 1 Quarter
Equity awards redeemed to pay employees' tax obligations PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.50M USD 1 Quarter
Equity awards redeemed to pay employees' tax obligations PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.90M USD 1 Quarter
Payment of cash dividends PaymentsOfDividends $16.80M USD 1 Quarter
Payment of cash dividends PaymentsOfDividends $17.20M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-4.10M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-58.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $44.20M USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-200.00K USD 1 Quarter
Effect of exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $400.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-8.90M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-34.20M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $19.20M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $30.20M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $10.30M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $64.40M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $19.20M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $30.20M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $10.30M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $64.40M USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net earnings (loss) ProfitLoss $-3.50M USD 1 Quarter
Net earnings (loss) ProfitLoss $25.40M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $7.70M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $5.60M USD 1 Quarter
Interest rate swap adjustments OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $400.00K USD 1 Quarter
Interest rate swap adjustments OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $3.70M USD 1 Quarter
Other comprehensive income, before tax OtherComprehensiveIncomeLossBeforeTax $8.10M USD 1 Quarter
Other comprehensive income, before tax OtherComprehensiveIncomeLossBeforeTax $9.30M USD 1 Quarter
Income tax impact related to items of other comprehensive income OtherComprehensiveIncomeLossTax - USD 1 Quarter
Income tax impact related to items of other comprehensive income OtherComprehensiveIncomeLossTax $800.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $8.50M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $8.10M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $33.50M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $5.00M USD 1 Quarter
Less: comprehensive (income) loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Less: comprehensive (income) loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive income attributable to Quad/Graphics common shareholders ComprehensiveIncomeNetOfTax $33.50M USD 1 Quarter
Comprehensive income attributable to Quad/Graphics common shareholders ComprehensiveIncomeNetOfTax $5.00M USD 1 Quarter

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

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