10-Q Filing

COMMSCOPE HOLDING COMPANY, INC. CIK: 1517228 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-017382`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	comm-10q_20190331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 38 Cash Flow Statement 49 Stockholders Equity 14 Comprehensive Income 12

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.40M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$19.50M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$437.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$454.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$458.20M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$449.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$176.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$472.70M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $19.5 and $17.4, respectively	`AccountsReceivableNetCurrent`	$810.40M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $19.5 and $17.4, respectively	`AccountsReceivableNetCurrent`	$957.60M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$535.50M	USD	Point-in-time
Inventories, net	`InventoryNet`	$473.30M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$135.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$151.50M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.82B	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.88B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $449.2 and $437.7, respectively	`PropertyPlantAndEquipmentNet`	$450.90M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $449.2 and $437.7, respectively	`PropertyPlantAndEquipmentNet`	$453.80M	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
Goodwill	`Goodwill`	$2.85B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.30B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.30B	shares	Point-in-time
Goodwill	`Goodwill`	$2.86B	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$1.29B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	192.38M	shares	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$1.35B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	193.46M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	193.46M	shares	Point-in-time
Funds restricted for acquisition	`FundsRestrictedForAcquisitions`	$3.76B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	192.38M	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$189.50M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$97.50M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.74M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	7.06M	shares	Point-in-time
Total assets	`Assets`	$10.37B	USD	Point-in-time
Total assets	`Assets`	$6.63B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$399.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$475.30M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$429.60M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$291.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$904.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$690.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$3.99B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$7.46B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$83.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$79.90M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$185.40M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$113.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.87B	USD	Point-in-time
Total liabilities	`Liabilities`	$8.63B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value: Authorized shares: 200,000,000; Issued and outstanding shares: None	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value: Authorized shares: 200,000,000; Issued and outstanding shares: None	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value: Authorized shares: 1,300,000,000; Issued and outstanding shares: 193,456,207 and 192,376,255, respectively	`CommonStockValue`	$2.00M	USD	Point-in-time
Common stock, $0.01 par value: Authorized shares: 1,300,000,000; Issued and outstanding shares: 193,456,207 and 192,376,255, respectively	`CommonStockValue`	$2.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.39B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.39B	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-252.10M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-249.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-170.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-159.20M	USD	Point-in-time
Treasury stock, at cost: 7,060,763 shares and 6,744,082 shares, respectively	`TreasuryStockValue`	$221.30M	USD	Point-in-time
Treasury stock, at cost: 7,060,763 shares and 6,744,082 shares, respectively	`TreasuryStockValue`	$228.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.76B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.74B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.73B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.63B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$10.37B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.12B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.10B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$687.70M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$709.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$411.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$411.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$199.20M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$185.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$50.20M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$49.90M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$59.30M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$67.20M	USD	1 Quarter
Restructuring costs, net	`RestructuringCharges`	$12.40M	USD	1 Quarter
Restructuring costs, net	`RestructuringCharges`	$5.50M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$307.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$321.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$103.70M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$90.70M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-5.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$59.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$97.50M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.40M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$11.80M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$46.30M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-700.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$12.60M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.60M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$33.70M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	191.40M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	192.80M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	192.80M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	195.50M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$33.70M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-2.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$89.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$83.70M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$7.50M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$10.50M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.40M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$150.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$71.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$25.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$62.40M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$24.50M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$24.50M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$136.80M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$15.40M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-12.40M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-3.30M	USD	1 Quarter
Net cash generated by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.00M	USD	1 Quarter
Net cash generated by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.20M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.40M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.60M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$600.00K	USD	1 Quarter
Acquisition funds held in escrow	`AcquisitionFundHeldInEscrow`	$3.75B	USD	1 Quarter
Cash paid for acquisitions, including purchase price adjustments, net of cash acquired	`PaymentsForProceedsFromPreviousAcquisition`	$11.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.60M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.78B	USD	1 Quarter
Long-term debt repaid	`RepaymentsOfLongTermDebt`	$225.00M	USD	1 Quarter
Long-term debt proceeds	`ProceedsFromIssuanceOfLongTermDebt`	$3.75B	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$9.30M	USD	1 Quarter
Proceeds from the issuance of common shares under equity-based compensation plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$1.30M	USD	1 Quarter
Proceeds from the issuance of common shares under equity-based compensation plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$3.90M	USD	1 Quarter
Tax withholding payments for vested equity-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$15.40M	USD	1 Quarter
Tax withholding payments for vested equity-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$7.50M	USD	1 Quarter
Net cash generated by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.50M	USD	1 Quarter
Net cash generated by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.51B	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.60M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$500.00K	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$18.70M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-281.80M	USD	1 Quarter
Cash and cash equivalent at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$454.00M	USD	Point-in-time
Cash and cash equivalent at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$458.20M	USD	Point-in-time
Cash and cash equivalent at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$176.40M	USD	Point-in-time
Cash and cash equivalent at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$472.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$454.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$458.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$176.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$472.70M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, Shares	`CommonStockSharesOutstanding`	193.46M	shares	Point-in-time
Beginning balance, Shares	`CommonStockSharesOutstanding`	192.38M	shares	Point-in-time
Ending balance, Shares	`CommonStockSharesOutstanding`	193.46M	shares	Point-in-time
Ending balance, Shares	`CommonStockSharesOutstanding`	192.38M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$1.76B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.74B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.73B	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-2.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$33.70M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-11.30M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$44.80M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$1.76B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.74B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.73B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-2.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$33.70M	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$46.80M	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.70M	USD	1 Quarter
Pension and other postretirement benefit activity	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$1.40M	USD	1 Quarter
Pension and other postretirement benefit activity	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$100.00K	USD	1 Quarter
Loss on hedging instruments	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-600.00K	USD	1 Quarter
Loss on hedging instruments	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-1.50M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-11.30M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$44.80M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$78.50M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-13.60M	USD	1 Quarter

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