10-Q Filing

TTM TECHNOLOGIES INC CIK: 1116942 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-011836`
Period End Date	20180331
Filing Date	20180508
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	ttmi-20180402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 35 Cash Flow Statement 49 Comprehensive Income 17

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	101.82M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$282.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$256.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	103.44M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$352.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$409.33M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$504.91M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	103.44M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	101.82M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$483.90M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	-	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$275.02M	USD	Point-in-time
Inventories	`InventoryNet`	$82.12M	USD	Point-in-time
Inventories	`InventoryNet`	$294.59M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$33.49M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$32.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.25B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.22B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.04B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.06B	USD	Point-in-time
Goodwill	`Goodwill`	$372.57M	USD	Point-in-time
Goodwill	`Goodwill`	$372.57M	USD	Point-in-time
Definite-lived intangibles, net	`FiniteLivedIntangibleAssetsNet`	$102.95M	USD	Point-in-time
Definite-lived intangibles, net	`FiniteLivedIntangibleAssetsNet`	$97.09M	USD	Point-in-time
Deposits and other non-current assets	`OtherAssetsNoncurrent`	$28.21M	USD	Point-in-time
Deposits and other non-current assets	`OtherAssetsNoncurrent`	$29.34M	USD	Point-in-time
Assets, Total	`Assets`	$2.79B	USD	Point-in-time
Assets, Total	`Assets`	$2.78B	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$4.58M	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$4.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$497.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$487.82M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$103.64M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$82.93M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$114.69M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$102.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$720.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$677.53M	USD	Point-in-time
Long-term debt, net of discount and issuance costs	`LongTermDebtNoncurrent`	$975.48M	USD	Point-in-time
Long-term debt, net of discount and issuance costs	`LongTermDebtNoncurrent`	$977.41M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$77.08M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$74.67M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.05B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.05B	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 300,000 shares authorized, 103,445 and 101,820 shares issued and outstanding in 2018 and 2017, respectively	`CommonStockValue`	$102.00K	USD	Point-in-time
Common stock, $0.001 par value; 300,000 shares authorized, 103,445 and 101,820 shares issued and outstanding in 2018 and 2017, respectively	`CommonStockValue`	$103.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$780.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$777.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$193.34M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$232.01M	USD	Point-in-time
Statutory surplus reserve	`StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance`	$37.51M	USD	Point-in-time
Statutory surplus reserve	`StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance`	$37.51M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.40M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.06M	USD	Point-in-time
Total TTM Technologies, Inc. stockholders equity	`StockholdersEquity`	$1.05B	USD	Point-in-time
Total TTM Technologies, Inc. stockholders equity	`StockholdersEquity`	$1.01B	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$2.78B	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$2.79B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$625.25M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$663.58M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$574.90M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$520.23M	USD	1 Quarter
Gross profit	`GrossProfit`	$105.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$88.68M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$17.63M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$16.66M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$29.88M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$35.19M	USD	1 Quarter
Amortization of definite-lived intangibles	`AmortizationOfIntangibleAssets`	$5.91M	USD	1 Quarter
Amortization of definite-lived intangibles	`AmortizationOfIntangibleAssets`	$5.86M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$52.45M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$58.68M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$30.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$52.57M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.75M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.60M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.11M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.71M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-14.85M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-15.31M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.15M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$37.26M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$4.14M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$5.05M	USD	1 Quarter
Net income	`ProfitLoss`	$10.10M	USD	1 Quarter
Net income	`ProfitLoss`	$33.12M	USD	1 Quarter
Less: Net income attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$166.00K	USD	1 Quarter
Net income attributable to TTM Technologies, Inc. stockholders	`NetIncomeLoss`	$32.96M	USD	1 Quarter
Net income attributable to TTM Technologies, Inc. stockholders	`NetIncomeLoss`	$10.10M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$10.10M	USD	1 Quarter
Net income	`ProfitLoss`	$33.12M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$39.77M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$36.08M	USD	1 Quarter
Amortization of definite-lived intangible assets	`AmortizationOfIntangibleAssets`	$5.91M	USD	1 Quarter
Amortization of definite-lived intangible assets	`AmortizationOfIntangibleAssets`	$5.86M	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$3.03M	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$2.60M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.62M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.63M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$394.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-439.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$12.84M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-13.45M	USD	1 Quarter
Contract Assets	`IncreaseDecreaseInContractAsset`	$14.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.88M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$11.10M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.58M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.01M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.47M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.66M	USD	1 Quarter
Accrued salaries, wages and benefits and other accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-26.66M	USD	1 Quarter
Accrued salaries, wages and benefits and other accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-47.57M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-14.26M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$49.58M	USD	1 Quarter
Purchase of property, plant and equipment and equipment deposits	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.26M	USD	1 Quarter
Purchase of property, plant and equipment and equipment deposits	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.19M	USD	1 Quarter
Proceeds from sale of property, plant and equipment and assets held for sale	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$9.88M	USD	1 Quarter
Proceeds from sale of property, plant and equipment and assets held for sale	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$53.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-23.38M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-42.14M	USD	1 Quarter
Repayment of long-term debt borrowing	`RepaymentsOfLongTermDebt`	$875.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$74.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-875.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$74.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$314.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$525.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-56.75M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.59M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$282.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$256.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$352.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$409.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$282.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$256.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$352.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$409.33M	USD	Point-in-time
Property, plant and equipment recorded in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$44.56M	USD	1 Quarter
Property, plant and equipment recorded in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$65.93M	USD	1 Quarter

Comprehensive Income 17 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$10.10M	USD	1 Quarter
Net income	`ProfitLoss`	$33.12M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$622.00K	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.62M	USD	1 Quarter
Unrealized (loss) gain on effective cash flow hedges during the period, net	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-6.00K	USD	1 Quarter
Unrealized (loss) gain on effective cash flow hedges during the period, net	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$68.00K	USD	1 Quarter
Loss realized in net earnings	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-41.00K	USD	1 Quarter
Loss realized in net earnings	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-44.00K	USD	1 Quarter
Net	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$35.00K	USD	1 Quarter
Net	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$112.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$6.73M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$657.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$39.86M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$10.75M	USD	1 Quarter
Less: Comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$166.00K	USD	1 Quarter
Comprehensive income attributable to TTM Technologies, Inc. stockholders	`ComprehensiveIncomeNetOfTax`	$10.75M	USD	1 Quarter
Comprehensive income attributable to TTM Technologies, Inc. stockholders	`ComprehensiveIncomeNetOfTax`	$39.69M	USD	1 Quarter

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