10-Q Filing

TTM TECHNOLOGIES INC CIK: 1116942 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-017942`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	ttmi-20190401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 32 Cash Flow Statement 57 Stockholders Equity 15 Comprehensive Income 15

Balance Sheet 67 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$235.22M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	103.69M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$256.36M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	105.42M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$409.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$352.58M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$516.83M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	103.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	105.42M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$523.16M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$287.74M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$263.07M	USD	Point-in-time
Inventories	`InventoryNet`	$114.80M	USD	Point-in-time
Inventories	`InventoryNet`	$109.38M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$39.63M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$30.27M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.21B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.17B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.05B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.04B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$21.63M	USD	Point-in-time
Goodwill	`Goodwill`	$767.04M	USD	Point-in-time
Goodwill	`Goodwill`	$767.04M	USD	Point-in-time
Definite-lived intangibles, net	`FiniteLivedIntangibleAssetsNet`	$357.92M	USD	Point-in-time
Definite-lived intangibles, net	`FiniteLivedIntangibleAssetsNet`	$375.92M	USD	Point-in-time
Deposits and other non-current assets	`OtherAssetsNoncurrent`	$55.60M	USD	Point-in-time
Deposits and other non-current assets	`OtherAssetsNoncurrent`	$60.45M	USD	Point-in-time
Assets, Total	`Assets`	$3.46B	USD	Point-in-time
Assets, Total	`Assets`	$3.41B	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$30.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$431.29M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$424.29M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.39M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$3.22M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$79.02M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$94.95M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$113.76M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$102.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$607.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$673.21M	USD	Point-in-time
Long-term debt, net of discount and issuance costs	`LongTermDebtNoncurrent`	$1.46B	USD	Point-in-time
Long-term debt, net of discount and issuance costs	`LongTermDebtNoncurrent`	$1.47B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$14.60M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$99.09M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$94.78M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.56B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.58B	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 300,000 shares authorized, 105,421 and 103,687 shares issued and outstanding at April 1, 2019 and December 31, 2018, respectively	`CommonStockValue`	$104.00K	USD	Point-in-time
Common stock, $0.001 par value; 300,000 shares authorized, 105,421 and 103,687 shares issued and outstanding at April 1, 2019 and December 31, 2018, respectively	`CommonStockValue`	$105.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$797.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$801.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$433.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$429.76M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.92M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.82M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.01B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.05B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.23B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.23B	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$3.41B	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$3.46B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$663.58M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$620.20M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$531.51M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$574.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$88.68M	USD	1 Quarter
Gross profit	`GrossProfit`	$88.69M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$18.90M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$17.63M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$35.19M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$35.47M	USD	1 Quarter
Amortization of definite-lived intangibles	`AmortizationOfIntangibleAssets`	$16.83M	USD	1 Quarter
Amortization of definite-lived intangibles	`AmortizationOfIntangibleAssets`	$5.86M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$71.19M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$58.68M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$17.49M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$30.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$21.69M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.75M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-530.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-1.11M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-14.85M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-22.22M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.15M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.73M	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$5.05M	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$-1.48M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$10.10M	USD	1 Quarter
Basic (loss) earnings per share	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Basic (loss) earnings per share	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Diluted (loss) earnings per share	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted (loss) earnings per share	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-3.25M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$10.10M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$39.77M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$41.60M	USD	1 Quarter
Amortization of definite-lived intangible assets	`AmortizationOfIntangibleAssetsIncludingCostOfGoodAndServicesAmortization`	$18.00M	USD	1 Quarter
Amortization of definite-lived intangible assets	`AmortizationOfIntangibleAssetsIncludingCostOfGoodAndServicesAmortization`	$5.86M	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$3.85M	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$3.03M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$1.26M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.62M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.93M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-4.35M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-439.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-6.34M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$12.84M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$-24.67M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$14.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$11.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.42M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.60M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.01M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.98M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.66M	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-833.00K	USD	1 Quarter
Accrued salaries, wages and benefits and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-47.57M	USD	1 Quarter
Accrued salaries, wages and benefits and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-31.77M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.26M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.92M	USD	1 Quarter
Purchase of property, plant and equipment and equipment deposits	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.48M	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 other assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.04M	USD	1 Quarter
Proceeds from sale of property, plant and equipment and other assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$53.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.45M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.14M	USD	1 Quarter
Repayment of long-term debt borrowing	`RepaymentsOfLongTermDebt`	$30.00M	USD	1 Quarter
Repayment of long-term debt borrowing	`RepaymentsOfLongTermDebt`	$875.00K	USD	1 Quarter
Redemption of convertible notes	`RepaymentsOfConvertibleDebt`	$10.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-30.01M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-875.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$525.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$391.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.14M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-56.75M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$235.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$256.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$409.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$352.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$409.33M	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`	$256.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$235.22M	USD	Point-in-time
Cash paid, net for interest	`InterestPaidNet`	$25.84M	USD	1 Quarter
Cash paid, net for interest	`InterestPaidNet`	$15.31M	USD	1 Quarter
Cash paid, net for income taxes	`IncomeTaxesPaidNet`	$9.57M	USD	1 Quarter
Cash paid, net for income taxes	`IncomeTaxesPaidNet`	$14.49M	USD	1 Quarter
Property, plant and equipment recorded in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$65.93M	USD	1 Quarter
Property, plant and equipment recorded in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$48.15M	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$1.01B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.05B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.23B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.23B	USD	Point-in-time
Net (loss) income	`ProfitLoss`	$-3.25M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$10.10M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-901.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$657.00K	USD	1 Quarter
Redemption of convertible notes, net	`AdjustmentsToAdditionalPaidInCapitalRedemptionOfConvertibleNotesNet`	$-1.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.62M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.93M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$1.01B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.05B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.23B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.23B	USD	Point-in-time

Comprehensive Income 15 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-3.25M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$10.10M	USD	1 Quarter
Foreign currency translation adjustments, net	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$630.00K	USD	1 Quarter
Foreign currency translation adjustments, net	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$622.00K	USD	1 Quarter
Pension obligation adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-19.00K	USD	1 Quarter
Unrealized loss on effective cash flow hedges during the period, net	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-6.00K	USD	1 Quarter
Unrealized loss on effective cash flow hedges during the period, net	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-1.83M	USD	1 Quarter
Loss realized in the statement of operations	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-41.00K	USD	1 Quarter
Loss realized in the statement of operations	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-278.00K	USD	1 Quarter
Net	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$35.00K	USD	1 Quarter
Net	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-1.55M	USD	1 Quarter
Other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-901.00K	USD	1 Quarter
Other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$657.00K	USD	1 Quarter
Comprehensive (loss) income, net of tax	`ComprehensiveIncomeNetOfTax`	$-4.15M	USD	1 Quarter
Comprehensive (loss) income, net of tax	`ComprehensiveIncomeNetOfTax`	$10.75M	USD	1 Quarter

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