10-Q Filing

DNOW INC. CIK: 1599617 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-023715`
Period End Date	20210331
Filing Date	20210505
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	dnow-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 25 Cash Flow Statement 40 Stockholders Equity 15 Comprehensive Income 6

Balance Sheet 67 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$374.00M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$387.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$202.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$198.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$245.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$262.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$247.00M	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
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.00M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	330.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$882.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	110.26M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	109.95M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$861.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$89.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	109.95M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	110.26M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$98.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$1.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$1.00M	USD	Point-in-time
Goodwill	`Goodwill`	$7.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$47.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$48.00M	USD	Point-in-time
Total assets	`Assets`	$1.01B	USD	Point-in-time
Total assets	`Assets`	$1.03B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$200.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$172.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$95.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$92.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$5.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$298.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$272.00M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$22.00M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$25.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$14.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$309.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$334.00M	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; 110,255,003 and 109,951,610 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock - par value $0.01; 330 million shares authorized; 110,255,003 and 109,951,610 shares issued and outstanding at March 31, 2021 and December 31, 2020, 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`	$-1.22B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.21B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-144.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-145.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$699.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$692.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.01B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.03B	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$604.00M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$361.00M	USD	1 Quarter
Cost of products	`CostOfGoodsAndServicesSold`	$286.00M	USD	1 Quarter
Cost of products	`CostOfGoodsAndServicesSold`	$487.00M	USD	1 Quarter
Warehousing, selling and administrative	`WarehousingSellingAndAdministrativeExpense`	$79.00M	USD	1 Quarter
Warehousing, selling and administrative	`WarehousingSellingAndAdministrativeExpense`	$130.00M	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$320.00M	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$4.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-333.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-8.00M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$1.00M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-333.00M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-2.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-331.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-3.03	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-3.03	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	110.07M	shares	1 Quarter
Weighted-average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	109.25M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.07M	shares	1 Quarter
Weighted-average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	109.25M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-10.00M	USD	1 Quarter
Net loss	`ProfitLoss`	$-331.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.00M	USD	1 Quarter
Provision for inventory	`InventoryWriteDown`	$5.00M	USD	1 Quarter
Provision for inventory	`InventoryWriteDown`	$9.00M	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$320.00M	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$4.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$7.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$5.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$12.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$45.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-11.00M	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`	$-20.00M	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`	$-4.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.00M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$6.00M	USD	1 Quarter
Net proceeds from sale of business	`ProceedsFromDivestitureOfBusinessesNetOfCashDivested`	$25.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$22.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.00M	USD	1 Quarter
Payments relating to finance leases and other, net	`PaymentsRelatingToFinanceLeasesAndOtherNet`	$2.00M	USD	1 Quarter
Payments relating to finance leases and other, net	`PaymentsRelatingToFinanceLeasesAndOtherNet`	$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`	$-2.00M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-7.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$19.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-13.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$374.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$387.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$202.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$374.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$387.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$202.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$183.00M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$768.00M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.14B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$699.00M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$692.00M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-331.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.00M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.00M	USD	1 Quarter
Shares withheld for taxes	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-1.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-39.00M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$768.00M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.14B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$699.00M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$692.00M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-331.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-39.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.00M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-370.00M	USD	1 Quarter

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