10-Q Filing

COMMSCOPE HOLDING COMPANY, INC. CIK: 1517228 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-022087`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	comm-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 41 Cash Flow Statement 50 Stockholders Equity 14 Comprehensive Income 12

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$40.00M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.40M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$553.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$176.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$458.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$598.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$394.30M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$585.00M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $40.0 and $35.4, respectively	`AccountsReceivableNetCurrent`	$1.60B	USD	Point-in-time
Series A convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Series A convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $40.0 and $35.4, respectively	`AccountsReceivableNetCurrent`	$1.70B	USD	Point-in-time
Inventories, net	`InventoryNet`	$975.90M	USD	Point-in-time
Inventories, net	`InventoryNet`	$909.40M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$238.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$238.90M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	200.00M	shares	Point-in-time
Series A convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	1.01M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.51B	USD	Point-in-time
Series A convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	1.01M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.15B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $585.0 and $553.8, respectively	`PropertyPlantAndEquipmentNet`	$723.80M	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.01M	shares	Point-in-time
Series A convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.01M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $585.0 and $553.8, respectively	`PropertyPlantAndEquipmentNet`	$693.50M	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`	$5.47B	USD	Point-in-time
Goodwill	`Goodwill`	$5.42B	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$4.26B	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
Other intangible assets, net	`OtherIntangibleAssetsNet`	$4.10B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$512.50M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$460.70M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	195.81M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	194.56M	shares	Point-in-time
Total assets	`Assets`	$14.43B	USD	Point-in-time
Total assets	`Assets`	$13.87B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	195.81M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	194.56M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	7.98M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	7.41M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.15B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$974.00M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$846.90M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$862.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$32.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$32.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.04B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.85B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$9.80B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$9.70B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$215.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$206.90M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$537.80M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$527.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.60B	USD	Point-in-time
Total liabilities	`Liabilities`	$12.29B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A convertible preferred stock, $0.01 par value	`TemporaryEquityCarryingAmountAttributableToParent`	$1.01B	USD	Point-in-time
Series A convertible preferred stock, $0.01 par value	`TemporaryEquityCarryingAmountAttributableToParent`	$1.00B	USD	Point-in-time
Preferred stock, $0.01 par value: Authorized shares: 200,000,000; Issued and outstanding shares: 1,013,750 Series A convertible preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value: Authorized shares: 200,000,000; Issued and outstanding shares: 1,013,750 Series A convertible preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value: Authorized shares: 1,300,000,000; Issued and outstanding shares: 195,807,913 and 194,563,530, respectively	`CommonStockValue`	$2.00M	USD	Point-in-time
Common stock, $0.01 par value: Authorized shares: 1,300,000,000; Issued and outstanding shares: 195,807,913 and 194,563,530, respectively	`CommonStockValue`	$2.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.45B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.46B	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-1.34B	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-1.18B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-197.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-304.70M	USD	Point-in-time
Treasury stock, at cost: 7,981,297 shares and 7,411,382 shares, respectively	`TreasuryStockValue`	$234.50M	USD	Point-in-time
Treasury stock, at cost: 7,981,297 shares and 7,411,382 shares, respectively	`TreasuryStockValue`	$240.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$836.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.74B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$573.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.87B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.43B	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.03B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.10B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.39B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$701.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$641.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$398.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$311.10M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$185.40M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$180.40M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$50.20M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$59.30M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$157.80M	USD	1 Quarter
Restructuring costs, net	`RestructuringCharges`	$12.40M	USD	1 Quarter
Restructuring costs, net	`RestructuringCharges`	$23.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$673.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$307.30M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-31.80M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$90.70M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-12.50M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-5.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$149.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$97.50M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.10M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$11.80M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-700.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-191.30M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-31.40M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$1.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-159.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.30M	USD	1 Quarter
Series A convertible preferred stock dividend	`TemporaryEquityDividendsAdjustment`	$13.80M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-173.70M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.30M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.89	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.89	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	194.90M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	192.80M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	194.90M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	192.80M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-159.90M	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$205.40M	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`	$23.50M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-38.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-69.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$150.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-50.60M	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`	$-15.20M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-217.20M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$136.80M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-3.30M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-9.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-42.70M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.90M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.40M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	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 Cable Exchange acquisition	`PaymentsToAcquireCableExchange`	$11.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.80M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.78B	USD	1 Quarter
Long-term debt repaid	`RepaymentsOfLongTermDebt`	$108.00M	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`	$900.00K	USD	1 Quarter
Proceeds from the issuance of common shares under equity-based compensation plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$1.30M	USD	1 Quarter
Tax withholding payments for vested equity-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$7.50M	USD	1 Quarter
Tax withholding payments for vested equity-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.90M	USD	1 Quarter
Net cash generated by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-113.00M	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`	$500.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-24.40M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-281.80M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-203.90M	USD	1 Quarter
Cash and cash equivalent at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$176.40M	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`	$598.20M	USD	Point-in-time
Cash and cash equivalent at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$394.30M	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`	$458.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$598.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$394.30M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, Shares	`CommonStockSharesOutstanding`	195.81M	shares	Point-in-time
Beginning balance, Shares	`CommonStockSharesOutstanding`	194.56M	shares	Point-in-time
Ending balance, Shares	`CommonStockSharesOutstanding`	195.81M	shares	Point-in-time
Ending balance, Shares	`CommonStockSharesOutstanding`	194.56M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$836.30M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.74B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$573.40M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-159.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.30M	USD	1 Quarter
Other comprehensive loss, net of tax:	`OtherComprehensiveIncomeLossNetOfTax`	$-11.30M	USD	1 Quarter
Other comprehensive loss, net of tax:	`OtherComprehensiveIncomeLossNetOfTax`	$-107.70M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$836.30M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.74B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$573.40M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-159.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.30M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.70M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-99.60M	USD	1 Quarter
Pension and other postretirement benefit activity	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$500.00K	USD	1 Quarter
Pension and other postretirement benefit activity	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$100.00K	USD	1 Quarter
Loss on hedging instruments	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-7.60M	USD	1 Quarter
Loss on hedging instruments	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-1.50M	USD	1 Quarter
Total other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-11.30M	USD	1 Quarter
Total other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-107.70M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-267.60M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.60M	USD	1 Quarter

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