10-Q Filing

DNOW INC. CIK: 1599617 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-021642`
Period End Date	20200331
Filing Date	20200506
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	dnow-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 24 Cash Flow Statement 41 Stockholders Equity 16 Comprehensive Income 6

Balance Sheet 71 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
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`	$116.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$202.00M	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
Receivables, net	`ReceivablesNetCurrent`	$370.00M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$366.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$434.00M	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
Inventories, net	`InventoryNet`	$465.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Assets held-for-sale	`AssetsHeldForSaleNotPartOfDisposalGroup`	$34.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	109.21M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	109.31M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.07B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	109.31M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	109.21M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.02B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$120.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$112.00M	USD	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`	$245.00M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$90.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$67.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$62.00M	USD	Point-in-time
Total assets	`Assets`	$1.20B	USD	Point-in-time
Total assets	`Assets`	$1.59B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$255.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$258.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$127.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$119.00M	USD	Point-in-time
Liabilities held-for-sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation`	$6.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$8.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$8.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$385.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$396.00M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$34.00M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$31.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$13.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$447.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$428.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - par value $0.01; 20 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - par 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; 109,308,266 and 109,207,678 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock - par value $0.01; 330 million shares authorized; 109,308,266 and 109,207,678 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.05B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.05B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.11B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-775.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-167.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-128.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$768.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.14B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.59B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.20B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$785.00M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$604.00M	USD	1 Quarter
Cost of products	`CostOfGoodsAndServicesSold`	$487.00M	USD	1 Quarter
Cost of products	`CostOfGoodsAndServicesSold`	$627.00M	USD	1 Quarter
Warehousing, selling and administrative	`WarehousingSellingAndAdministrativeExpense`	$135.00M	USD	1 Quarter
Warehousing, selling and administrative	`WarehousingSellingAndAdministrativeExpense`	$130.00M	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$320.00M	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$-333.00M	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$23.00M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$4.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-333.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-2.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-331.00M	USD	1 Quarter
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$-3.03	USD	1 Quarter
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$-3.03	USD	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	108.56M	shares	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	109.25M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	109.25M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	109.06M	shares	1 Quarter

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-331.00M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$18.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.00M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$4.00M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-3.00M	USD	1 Quarter
Provision for inventory	`InventoryWriteDown`	$9.00M	USD	1 Quarter
Provision for inventory	`InventoryWriteDown`	$4.00M	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$320.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$12.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$3.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$12.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$26.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$34.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-13.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.00M	USD	1 Quarter
Accounts payable, accrued liabilities and other, net	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherNet`	$1.00M	USD	1 Quarter
Accounts payable, accrued liabilities and other, net	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherNet`	$3.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00M	USD	1 Quarter
Net proceeds from sale of business	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$25.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$22.00M	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
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.00M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-7.00M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$19.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-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`	$116.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$202.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$183.00M	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`	$116.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$202.00M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.25B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$768.00M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.14B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.21B	USD	Point-in-time
Cumulative effect of accounting change	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$-6.00M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-331.00M	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 (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$10.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-39.00M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.25B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$768.00M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.14B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.21B	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-331.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$10.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-39.00M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$28.00M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-370.00M	USD	1 Quarter

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