10-Q Filing

ICF International, Inc. CIK: 1362004 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-015493`
Period End Date	20190331
Filing Date	20190503
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	icfi-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 38 Cash Flow Statement 71

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.69M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.69M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Contract receivables, net	`AccountsReceivableNetCurrent`	$222.47M	USD	Point-in-time
Contract receivables, net	`AccountsReceivableNetCurrent`	$230.97M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$151.81M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	70.00M	shares	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$126.69M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	70.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	22.66M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.25M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.55M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	22.45M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	18.87M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$6.50M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.22M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	18.82M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$399.74M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$392.11M	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$50.89M	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$48.10M	USD	Point-in-time
Restricted cash - non-current	`RestrictedCashNoncurrent`	$1.27M	USD	Point-in-time
Restricted cash - non-current	`RestrictedCashNoncurrent`	$1.27M	USD	Point-in-time
Restricted cash - non-current	`RestrictedCashNoncurrent`	$1.29M	USD	Point-in-time
Goodwill	`Goodwill`	$715.64M	USD	Point-in-time
Goodwill	`Goodwill`	$720.36M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$35.49M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$33.52M	USD	Point-in-time
Operating lease - right-of-use assets	`OperatingLeaseRightOfUseAsset`	$127.59M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$21.22M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$22.53M	USD	Point-in-time
Total Assets	`Assets`	$1.21B	USD	Point-in-time
Total Assets	`Assets`	$1.35B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$102.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$87.04M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$33.49M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$35.94M	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$30.32M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$44.10M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$50.01M	USD	Point-in-time
Accrued subcontractors and other direct costs	`AccruedSubcontractorAndOtherDirectCosts`	$49.95M	USD	Point-in-time
Accrued subcontractors and other direct costs	`AccruedSubcontractorAndOtherDirectCosts`	$58.79M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$39.07M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$27.90M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$278.06M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$281.17M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$232.32M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$200.42M	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$112.68M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$13.94M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$40.16M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$43.34M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$22.54M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$20.86M	USD	Point-in-time
Total Liabilities	`Liabilities`	$553.45M	USD	Point-in-time
Total Liabilities	`Liabilities`	$692.05M	USD	Point-in-time
Commitments and Contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $.001; 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.001; 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.001; 70,000,000 shares authorized; 22,660,508 and 22,445,576 shares issued as of March 31, 2019 and December 31, 2018, respectively; 18,865,729 and 18,817,495 shares outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$23.00K	USD	Point-in-time
Common stock, par value $.001; 70,000,000 shares authorized; 22,660,508 and 22,445,576 shares issued as of March 31, 2019 and December 31, 2018, respectively; 18,865,729 and 18,817,495 shares outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$22.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$326.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$330.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$499.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$486.44M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$155.07M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$139.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.55M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.27M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$662.57M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$616.03M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$622.50M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$660.42M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$1.21B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$1.35B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$302.78M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$341.25M	USD	1 Quarter
Direct costs	`CostOfGoodsAndServicesSold`	$215.95M	USD	1 Quarter
Direct costs	`CostOfGoodsAndServicesSold`	$188.83M	USD	1 Quarter
Indirect and selling expenses	`SellingGeneralAndAdministrativeExpense`	$96.52M	USD	1 Quarter
Indirect and selling expenses	`SellingGeneralAndAdministrativeExpense`	$89.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.47M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.13M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.24M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$103.42M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$96.37M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$17.58M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$21.89M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.67M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.45M	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$104.00K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-412.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.02M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.02M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.60M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.32M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.81	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.65	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.80	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.67M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.82M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.16M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.26M	shares	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.14	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.14	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.61M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$283.00K	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$14.03M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$15.60M	USD	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$12.42M	USD	1 Quarter
Net income	`ProfitLoss`	$15.32M	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$628.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-159.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-3.14M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-2.64M	USD	1 Quarter
Non-cash equity compensation	`ShareBasedCompensation`	$2.39M	USD	1 Quarter
Non-cash equity compensation	`ShareBasedCompensation`	$4.15M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.90M	USD	1 Quarter
Facilities consolidation reserve	`FacilitiesConsolidationReserve`	$-67.00K	USD	1 Quarter
Facilities consolidation reserve	`FacilitiesConsolidationReserve`	$-64.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$127.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$130.00K	USD	1 Quarter
Other adjustments, net	`OtherNoncashIncomeExpense`	$535.00K	USD	1 Quarter
Other adjustments, net	`OtherNoncashIncomeExpense`	$264.00K	USD	1 Quarter
Net contract assets and liabilities	`IncreaseDecreaseInCommodityContractAssetsAndLiabilities`	$23.15M	USD	1 Quarter
Net contract assets and liabilities	`IncreaseDecreaseInCommodityContractAssetsAndLiabilities`	$11.41M	USD	1 Quarter
Contract receivables	`IncreaseDecreaseInReceivables`	$-3.32M	USD	1 Quarter
Contract receivables	`IncreaseDecreaseInReceivables`	$-8.24M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.11M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.35M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.56M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.94M	USD	1 Quarter
Accrued salaries and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$5.91M	USD	1 Quarter
Accrued salaries and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$834.00K	USD	1 Quarter
Accrued subcontractors and other direct costs	`IncreaseDecreaseInAccruedSubcontractorAndOtherDirectCosts`	$-8.80M	USD	1 Quarter
Accrued subcontractors and other direct costs	`IncreaseDecreaseInAccruedSubcontractorAndOtherDirectCosts`	$-13.54M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-8.71M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$4.46M	USD	1 Quarter
Income tax receivable and payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-2.12M	USD	1 Quarter
Income tax receivable and payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-757.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-366.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$346.00K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.85M	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.69M	USD	1 Quarter
Capital expenditures for property and equipment and capitalized software	`PaymentsToAcquireProductiveAssets`	$7.54M	USD	1 Quarter
Capital expenditures for property and equipment and capitalized software	`PaymentsToAcquireProductiveAssets`	$3.24M	USD	1 Quarter
Payments for business acquisitions, net of cash received	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$11.84M	USD	1 Quarter
Payments for business acquisitions, net of cash received	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.82M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.07M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.36M	USD	1 Quarter
Advances from working capital facilities	`ProceedsFromBankDebt`	$138.24M	USD	1 Quarter
Advances from working capital facilities	`ProceedsFromBankDebt`	$163.24M	USD	1 Quarter
Payments on working capital facilities	`RepaymentsOfLongTermDebt`	$131.35M	USD	1 Quarter
Payments on working capital facilities	`RepaymentsOfLongTermDebt`	$113.00M	USD	1 Quarter
Payments on capital expenditure obligations	`RepaymentOfCapitalExpenditureObligations`	$814.00K	USD	1 Quarter
Debt issue costs	`PaymentsOfDebtIssuanceCosts`	$21.00K	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$1.80M	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$404.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$2.64M	USD	1 Quarter
Net payments for stockholder issuances and buybacks	`ProceedsFromRepurchaseOfEquity`	$-15.22M	USD	1 Quarter
Net payments for stockholder issuances and buybacks	`ProceedsFromRepurchaseOfEquity`	$-9.11M	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$17.10M	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$14.44M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$305.00K	USD	1 Quarter
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$120.00K	USD	1 Quarter
Decrease in Cash, Cash Equivalents, and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.30M	USD	1 Quarter
Decrease in Cash, Cash Equivalents, and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.70M	USD	1 Quarter
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.99M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.69M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$24.27M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$20.57M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.99M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.69M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$24.27M	USD	Point-in-time
Cash, Cash Equivalents, and Restricted Cash, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$20.57M	USD	Point-in-time
Interest	`InterestPaidNet`	$1.60M	USD	1 Quarter
Interest	`InterestPaidNet`	$1.60M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$1.07M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$615.00K	USD	1 Quarter

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