10-Q Filing

DNOW INC. CIK: 1599617 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-026862`
Period End Date	20160930
Filing Date	20161102
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	dnow-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 48 Cash Flow Statement 61 Comprehensive Income 12

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
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`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$126.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$195.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$90.00M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$485.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$339.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$693.00M	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
Inventories, net	`InventoryNet`	$532.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$22.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$24.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	107.22M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.02B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	107.47M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.29B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$153.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$165.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	107.47M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	107.22M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$4.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.00M	USD	Point-in-time
Goodwill	`Goodwill`	$205.00M	USD	Point-in-time
Goodwill	`Goodwill`	$331.00M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$194.00M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$161.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.00M	USD	Point-in-time
Total assets	`Assets`	$1.83B	USD	Point-in-time
Total assets	`Assets`	$1.71B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$193.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$211.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$94.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$95.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$307.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$292.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$108.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$145.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$443.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$429.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stockpar value $0.01; 20 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stockpar value $0.01; 20 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock - par value $0.01; 330 million shares authorized; 107,473,952 and 107,219,138 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock - par value $0.01; 330 million shares authorized; 107,473,952 and 107,219,138 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.98B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.00B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-607.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-444.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-134.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-122.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.27B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.40B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.71B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.83B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$2.37B	USD	3 Qtrs
Revenue	`Revenues`	$1.57B	USD	3 Qtrs
Revenue	`Revenues`	$520.00M	USD	1 Quarter
Revenue	`Revenues`	$753.00M	USD	1 Quarter
Cost of products	`CostOfGoodsSold`	$636.00M	USD	1 Quarter
Cost of products	`CostOfGoodsSold`	$1.31B	USD	3 Qtrs
Cost of products	`CostOfGoodsSold`	$1.97B	USD	3 Qtrs
Cost of products	`CostOfGoodsSold`	$433.00M	USD	1 Quarter
Warehousing, selling and administrative	`OperatingExpenses`	$153.00M	USD	1 Quarter
Warehousing, selling and administrative	`OperatingExpenses`	$140.00M	USD	1 Quarter
Warehousing, selling and administrative	`OperatingExpenses`	$432.00M	USD	3 Qtrs
Warehousing, selling and administrative	`OperatingExpenses`	$467.00M	USD	3 Qtrs
Impairment of goodwill	`GoodwillImpairmentLoss`	$255.00M	USD	3 Qtrs
Impairment of goodwill	`GoodwillImpairmentLoss`	$255.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-326.00M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-175.00M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-291.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-53.00M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$6.00M	USD	3 Qtrs
Other expense	`OtherNonoperatingExpense`	$3.00M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$7.00M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-182.00M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-291.00M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-332.00M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-56.00M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-79.00M	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-67.00M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-19.00M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-56.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-253.00M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-163.00M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-224.00M	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-2.36	USD	3 Qtrs
Basic loss per common share	`EarningsPerShareBasic`	$-0.53	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-2.09	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-1.52	USD	3 Qtrs
Diluted loss per common share	`EarningsPerShareDiluted`	$-2.09	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-2.36	USD	3 Qtrs
Diluted loss per common share	`EarningsPerShareDiluted`	$-1.52	USD	3 Qtrs
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.53	USD	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.40M	shares	3 Qtrs
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.19M	shares	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.16M	shares	3 Qtrs
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.47M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.16M	shares	3 Qtrs
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.19M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.47M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.40M	shares	3 Qtrs

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-56.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-253.00M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-163.00M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-224.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$39.00M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.00M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-89.00M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-24.00M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$19.00M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$17.00M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForRecoveryOfDoubtfulAccounts`	$16.00M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForRecoveryOfDoubtfulAccounts`	$21.00M	USD	3 Qtrs
Provision for inventory	`InventoryWriteDown`	$36.00M	USD	3 Qtrs
Provision for inventory	`InventoryWriteDown`	$31.00M	USD	3 Qtrs
Impairment of goodwill	`GoodwillImpairmentLoss`	$255.00M	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	$255.00M	USD	3 Qtrs
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-2.00M	USD	3 Qtrs
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$1.00M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-316.00M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-129.00M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-183.00M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-152.00M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-15.00M	USD	3 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.00M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-38.00M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-281.00M	USD	3 Qtrs
Income taxes receivable, net	`IncreaseDecreaseInIncomeTaxes`	$26.00M	USD	3 Qtrs
Income taxes receivable, net	`IncreaseDecreaseInIncomeTaxes`	$3.00M	USD	3 Qtrs
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.00M	USD	3 Qtrs
Other assets/liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.00M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$186.00M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$244.00M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$397.00M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$182.00M	USD	3 Qtrs
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$7.00M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-3.00M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-402.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-191.00M	USD	3 Qtrs
Borrowing under the revolving credit facility	`ProceedsFromLinesOfCredit`	$227.00M	USD	3 Qtrs
Borrowing under the revolving credit facility	`ProceedsFromLinesOfCredit`	$335.00M	USD	3 Qtrs
Repayments under the revolving credit facility	`RepaymentsOfLinesOfCredit`	$190.00M	USD	3 Qtrs
Repayments under the revolving credit facility	`RepaymentsOfLinesOfCredit`	$215.00M	USD	3 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.00M	USD	3 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$33.00M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$118.00M	USD	3 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$13.00M	USD	3 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-29.00M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$41.00M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-69.00M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$126.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$195.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$131.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$90.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$131.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$126.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$195.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$90.00M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-56.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-253.00M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-163.00M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-224.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$72.00M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$3.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$46.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$-12.00M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-151.00M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-325.00M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-270.00M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-59.00M	USD	1 Quarter

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