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10-Q Filing

QUAD/GRAPHICS, INC. CIK: 1481792 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001481792-19-000028
Period End Date 20190331
Filing Date 20190501
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance quad-20190331.xml
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Allowances for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $27.60M USD Point-in-time
Allowances for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $28.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $69.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $30.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $64.40M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $10.40M USD Point-in-time
Receivables, less allowances for doubtful accounts of $28.0 million at March 31, 2019, and $27.6 million at December 31, 2018 ReceivablesNetCurrent $528.70M USD Point-in-time
Receivables, less allowances for doubtful accounts of $28.0 million at March 31, 2019, and $27.6 million at December 31, 2018 ReceivablesNetCurrent $512.30M USD Point-in-time
Inventories InventoryNet $283.00M USD Point-in-time
Inventories InventoryNet $300.60M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $47.80M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $50.20M USD Point-in-time
Total current assets AssetsCurrent $946.60M USD Point-in-time
Total current assets AssetsCurrent $855.90M USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $1.24B USD Point-in-time
Property, plant and equipmentnet PropertyPlantAndEquipmentNet $1.26B USD Point-in-time
Operating lease right-of-use assetsnet OperatingLeaseRightOfUseAsset - USD Point-in-time
Operating lease right-of-use assetsnet OperatingLeaseRightOfUseAsset $127.30M USD Point-in-time
Goodwill Goodwill $114.80M USD Point-in-time
Goodwill Goodwill $54.60M USD Point-in-time
Other intangible assetsnet IntangibleAssetsNetExcludingGoodwill $172.60M USD Point-in-time
Other intangible assetsnet IntangibleAssetsNetExcludingGoodwill $112.60M USD Point-in-time
Equity method investment in unconsolidated entity EquityMethodInvestments $3.90M USD Point-in-time
Equity method investment in unconsolidated entity EquityMethodInvestments $4.00M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $92.80M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $93.90M USD Point-in-time
Total assets Assets $2.47B USD Point-in-time
Total assets Assets $2.60B USD Point-in-time
Accounts payable AccountsPayableCurrent $511.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $419.30M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $247.80M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $292.30M USD Point-in-time
Short-term debt and current portion of long-term debt LongTermDebtCurrent $52.40M USD Point-in-time
Short-term debt and current portion of long-term debt LongTermDebtCurrent $42.90M USD Point-in-time
Current portion of finance lease obligations FinanceLeaseLiabilityCurrent $5.10M USD Point-in-time
Current portion of finance lease obligations FinanceLeaseLiabilityCurrent $5.10M USD Point-in-time
Current portion of operating lease obligations OperatingLeaseLiabilityCurrent $33.60M USD Point-in-time
Current portion of operating lease obligations OperatingLeaseLiabilityCurrent - USD Point-in-time
Total current liabilities LiabilitiesCurrent $758.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $851.30M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $882.60M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.07B USD Point-in-time
Finance lease obligations FinanceLeaseLiabilityNoncurrent $9.80M USD Point-in-time
Finance lease obligations FinanceLeaseLiabilityNoncurrent $10.30M USD Point-in-time
Operating lease obligations OperatingLeaseLiabilityNoncurrent $97.20M USD Point-in-time
Operating lease obligations OperatingLeaseLiabilityNoncurrent - USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $32.10M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $19.90M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $223.70M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $232.60M USD Point-in-time
Total liabilities Liabilities $2.01B USD Point-in-time
Total liabilities Liabilities $2.18B 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 $861.30M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $836.20M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $56.60M USD Point-in-time
Treasury stock, at cost TreasuryStockValue $29.90M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-211.40M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-249.90M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-127.30M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-118.80M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-155.30M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-152.20M USD Point-in-time
Quads shareholders equity StockholdersEquity $402.50M USD Point-in-time
Quads shareholders equity StockholdersEquity $442.50M USD Point-in-time
Noncontrolling interests MinorityInterest $17.40M USD Point-in-time
Noncontrolling interests MinorityInterest $17.70M USD Point-in-time
Total shareholders equity and noncontrolling interests StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $460.20M USD Point-in-time
Total shareholders equity and noncontrolling interests StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $419.90M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.47B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $2.60B USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Products SalesRevenueGoodsNet $805.10M USD 1 Quarter
Products SalesRevenueGoodsNet $801.10M USD 1 Quarter
Services SalesRevenueServicesNet $166.40M USD 1 Quarter
Services SalesRevenueServicesNet $199.60M USD 1 Quarter
Total net sales SalesRevenueNet $967.50M USD 1 Quarter
Total net sales SalesRevenueNet $1.00B USD 1 Quarter
Products CostOfGoodsSold $665.20M USD 1 Quarter
Products CostOfGoodsSold $695.00M USD 1 Quarter
Services CostOfServices $127.20M USD 1 Quarter
Services CostOfServices $142.10M USD 1 Quarter
Total cost of sales CostOfGoodsAndServicesSold $792.40M USD 1 Quarter
Total cost of sales CostOfGoodsAndServicesSold $837.10M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $86.90M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $97.90M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $56.20M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $59.20M USD 1 Quarter
Restructuring, impairment and transaction-related charges RestructuringSettlementAndImpairmentProvisions $24.90M USD 1 Quarter
Restructuring, impairment and transaction-related charges RestructuringSettlementAndImpairmentProvisions $7.60M USD 1 Quarter
Total operating expenses CostsAndExpenses $1.00B USD 1 Quarter
Total operating expenses CostsAndExpenses $960.40M USD 1 Quarter
Operating income OperatingIncomeLoss $7.10M USD 1 Quarter
Operating income OperatingIncomeLoss $2.90M USD 1 Quarter
Interest expense InterestExpense $17.30M USD 1 Quarter
Interest expense InterestExpense $21.80M USD 1 Quarter
Net pension income DefinedBenefitPlanNetPeriodicBenefitCost $-3.10M USD 1 Quarter
Net pension income DefinedBenefitPlanNetPeriodicBenefitCost $-1.50M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-15.90M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss before income taxes and equity in loss (earnings) of unconsolidated entity IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-33.30M USD 1 Quarter
Loss before income taxes and equity in loss (earnings) of unconsolidated entity IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-7.10M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-10.60M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-3.30M USD 1 Quarter
Loss before equity in loss (earnings) of unconsolidated entity IncomeLossBeforeEquityinEarningsLossofUnconsolidatedEntities $-22.70M USD 1 Quarter
Loss before equity in loss (earnings) of unconsolidated entity IncomeLossBeforeEquityinEarningsLossofUnconsolidatedEntities $-3.80M USD 1 Quarter
Equity in loss (earnings) of unconsolidated entity IncomeLossFromEquityMethodInvestments $-100.00K USD 1 Quarter
Equity in loss (earnings) of unconsolidated entity IncomeLossFromEquityMethodInvestments $300.00K USD 1 Quarter
Net loss ProfitLoss $-3.50M USD 1 Quarter
Net loss ProfitLoss $-22.80M USD 1 Quarter
Less: net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-300.00K USD 1 Quarter
Net loss attributable to Quad common shareholders NetIncomeLoss $-22.50M USD 1 Quarter
Net loss attributable to Quad common shareholders NetIncomeLoss $-3.50M USD 1 Quarter
Basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $-0.45 USD 1 Quarter
Basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $-0.07 USD 1 Quarter
Basic and diluted (in shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 50.10M shares 1 Quarter
Basic and diluted (in shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 49.60M shares 1 Quarter
Cash Flow Statement 69 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-3.50M USD 1 Quarter
Net loss ProfitLoss $-22.80M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $56.20M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $59.20M USD 1 Quarter
Employee stock ownership plan contribution EmployeeStockOwnershipPlanESOPCompensationExpense $22.30M USD 1 Quarter
Employee stock ownership plan contribution EmployeeStockOwnershipPlanESOPCompensationExpense - USD 1 Quarter
Employee stock ownership plan contribution EmployeeStockOwnershipPlanESOPCompensationExpense $22.30M USD Point-in-time
Impairment charges OtherAssetImpairmentCharges $1.70M USD 1 Quarter
Impairment charges OtherAssetImpairmentCharges $7.90M USD 1 Quarter
Amortization of debt issuance costs and original issue discount AmortizationOfFinancingCostsAndDiscounts $1.10M USD 1 Quarter
Amortization of debt issuance costs and original issue discount AmortizationOfFinancingCostsAndDiscounts $900.00K USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt $-15.90M USD 1 Quarter
Loss on debt extinguishment GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Stock-based compensation ShareBasedCompensation $5.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $5.40M USD 1 Quarter
Gain from property insurance claims InsuredEventGainLoss $17.20M USD 1 Quarter
Gain from property insurance claims InsuredEventGainLoss $800.00K USD 1 Quarter
Gain on the sale or disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $3.00M USD 1 Quarter
Gain on the sale or disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $2.20M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $900.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-10.70M USD 1 Quarter
Equity in loss (earnings) of unconsolidated entity IncomeLossFromEquityMethodInvestments $-100.00K USD 1 Quarter
Equity in loss (earnings) of unconsolidated entity IncomeLossFromEquityMethodInvestments $300.00K USD 1 Quarter
Changes in operating assets and liabilitiesnet of acquisitions IncreaseDecreaseInOtherOperatingCapitalNet $104.30M USD 1 Quarter
Changes in operating assets and liabilitiesnet of acquisitions IncreaseDecreaseInOtherOperatingCapitalNet $68.20M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $2.20M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-58.60M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $45.30M 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 $7.80M USD 1 Quarter
Proceeds from property insurance claims ProceedsFromInsuranceSettlementInvestingActivities $300.00K USD 1 Quarter
Proceeds from property insurance claims ProceedsFromInsuranceSettlementInvestingActivities $13.40M USD 1 Quarter
Acquisition of businessesnet of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $121.00M USD 1 Quarter
Acquisition of businessesnet of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $73.90M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-158.20M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-80.40M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $490.40M 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 $534.30M USD 1 Quarter
Payments of finance lease obligations RepaymentsOfLongTermCapitalLeaseObligations $1.60M USD 1 Quarter
Payments of finance lease obligations RepaymentsOfLongTermCapitalLeaseObligations $1.60M USD 1 Quarter
Borrowings on revolving credit facilities ProceedsFromLongTermLinesOfCredit $245.50M USD 1 Quarter
Borrowings on revolving credit facilities ProceedsFromLongTermLinesOfCredit $1.24B USD 1 Quarter
Payments on revolving credit facilities RepaymentsOfLongTermLinesOfCredit $174.00M USD 1 Quarter
Payments on revolving credit facilities RepaymentsOfLongTermLinesOfCredit $990.10M USD 1 Quarter
Payments of debt issuance costs and financing fees PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Payments of debt issuance costs and financing fees PaymentsOfDebtIssuanceCosts $20.20M USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised - USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $4.00M 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 $6.60M USD 1 Quarter
Payment of cash dividends PaymentsOfDividends $19.20M USD 1 Quarter
Payment of cash dividends PaymentsOfDividends $17.20M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $44.20M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $157.70M 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 - USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-34.20M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-59.10M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $69.50M 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 $64.40M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $10.40M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $69.50M 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 $64.40M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $10.40M USD Point-in-time
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Cash dividend declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.30 USD 1 Quarter
Cash dividend declared (in dollars per share) CommonStockDividendsPerShareDeclared $0.30 USD 1 Quarter
Beginning balance, Quad's shareholders equity StockholdersEquity $402.50M USD Point-in-time
Beginning balance, Quad's shareholders equity StockholdersEquity $442.50M USD Point-in-time
Beginning balance, noncontrolling interests MinorityInterest $17.40M USD Point-in-time
Beginning balance, noncontrolling interests MinorityInterest $17.70M USD Point-in-time
Net earnings (loss) attributable to Quad common shareholders NetIncomeLoss $-22.50M USD 1 Quarter
Net earnings (loss) attributable to Quad common shareholders NetIncomeLoss $-3.50M USD 1 Quarter
Net earnings (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net earnings (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-300.00K USD 1 Quarter
Ending balance, Quad's shareholders' equity StockholdersEquity $402.50M USD Point-in-time
Ending balance, Quad's shareholders' equity StockholdersEquity $442.50M USD Point-in-time
Ending balance, noncontrolling interests MinorityInterest $17.40M USD Point-in-time
Ending balance, noncontrolling interests MinorityInterest $17.70M USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-3.50M USD 1 Quarter
Net loss ProfitLoss $-22.80M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $5.60M USD 1 Quarter
Translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-300.00K USD 1 Quarter
Interest rate swap adjustments OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $-3.70M USD 1 Quarter
Interest rate swap adjustments OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $3.70M USD 1 Quarter
Other comprehensive (loss) income, before tax OtherComprehensiveIncomeLossBeforeTax $-4.00M USD 1 Quarter
Other comprehensive (loss) income, before tax OtherComprehensiveIncomeLossBeforeTax $9.30M USD 1 Quarter
Income tax impact related to items of other comprehensive (loss) income OtherComprehensiveIncomeLossTax $-900.00K USD 1 Quarter
Income tax impact related to items of other comprehensive (loss) income OtherComprehensiveIncomeLossTax $800.00K USD 1 Quarter
Other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTax $-3.10M USD 1 Quarter
Other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTax $8.50M USD 1 Quarter
Total comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-25.90M USD 1 Quarter
Total comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $5.00M USD 1 Quarter
Less: comprehensive loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-300.00K USD 1 Quarter
Less: comprehensive loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive (loss) income attributable to Quad common shareholders ComprehensiveIncomeNetOfTax $5.00M USD 1 Quarter
Comprehensive (loss) income attributable to Quad common shareholders ComprehensiveIncomeNetOfTax $-25.60M USD 1 Quarter

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

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