10-Q Filing

DNOW INC. CIK: 1599617 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-015084`
Period End Date	20190331
Filing Date	20190502
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	dnow-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 24 Cash Flow Statement 43 Stockholders Equity 20 Comprehensive Income 6

Balance Sheet 73 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`	$116.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$87.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$98.00M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$482.00M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$513.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$634.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$602.00M	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
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$19.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.25B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	108.71M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	108.43M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.22B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	108.71M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$106.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$110.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	108.43M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.00M	USD	Point-in-time
Goodwill	`Goodwill`	$318.00M	USD	Point-in-time
Goodwill	`Goodwill`	$314.00M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$144.00M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$140.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$74.00M	USD	Point-in-time
Total assets	`Assets`	$1.90B	USD	Point-in-time
Total assets	`Assets`	$1.79B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$339.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$329.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$130.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$110.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$475.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$441.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$124.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$132.00M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$40.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$5.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$6.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$581.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$651.00M	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; 108,708,922 and 108,426,962 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock - par value $0.01; 330 million shares authorized; 108,708,922 and 108,426,962 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.04B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.03B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-660.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-678.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-133.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-143.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.25B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.21B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.90B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.79B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$764.00M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$785.00M	USD	1 Quarter
Cost of products	`CostOfGoodsAndServicesSold`	$616.00M	USD	1 Quarter
Cost of products	`CostOfGoodsAndServicesSold`	$627.00M	USD	1 Quarter
Warehousing, selling and administrative	`OperatingExpenses`	$135.00M	USD	1 Quarter
Warehousing, selling and administrative	`OperatingExpenses`	$141.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$23.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$7.00M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$4.00M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$4.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.00M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	108.56M	shares	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	108.07M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	109.06M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	108.17M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$2.00M	USD	1 Quarter
Net income	`ProfitLoss`	$18.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.00M	USD	1 Quarter
Provision for inventory	`InventoryWriteDown`	$2.00M	USD	1 Quarter
Provision for inventory	`InventoryWriteDown`	$4.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$1.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$5.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$74.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$26.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$34.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$22.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.00M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$48.00M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.00M	USD	1 Quarter
Income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxes`	$1.00M	USD	1 Quarter
Income taxes receivable / payable	`IncreaseDecreaseInIncomeTaxes`	$1.00M	USD	1 Quarter
Other assets / liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00M	USD	1 Quarter
Borrowings under the revolving credit facility	`ProceedsFromLinesOfCredit`	$85.00M	USD	1 Quarter
Borrowings under the revolving credit facility	`ProceedsFromLinesOfCredit`	$106.00M	USD	1 Quarter
Repayments under the revolving credit facility	`RepaymentsOfLinesOfCredit`	$114.00M	USD	1 Quarter
Repayments under the revolving credit facility	`RepaymentsOfLinesOfCredit`	$72.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.00M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-29.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$87.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$98.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$116.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$80.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$116.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$80.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$87.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$98.00M	USD	Point-in-time
Accrued purchases of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.00M	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.25B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.21B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.19B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.19B	USD	Point-in-time
Beginning balance, Common stock value	`CommonStockValue`	$1.00M	USD	Point-in-time
Beginning balance, Common stock value	`CommonStockValue`	$1.00M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.00M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.00M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.00M	USD	1 Quarter
Shares withheld for taxes	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-2.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$1.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$10.00M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.25B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.21B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.19B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.19B	USD	Point-in-time
Ending balance, Common stock value	`CommonStockValue`	$1.00M	USD	Point-in-time
Ending balance, Common stock value	`CommonStockValue`	$1.00M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$10.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$28.00M	USD	1 Quarter

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