10-Q Filing

COMMSCOPE HOLDING COMPANY, INC. CIK: 1517228 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-024249`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	comm-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 42 Cash Flow Statement 47 Stockholders Equity 14 Comprehensive Income 12

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$40.30M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$32.10M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$730.10M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$705.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$521.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$325.90M	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
Series A convertible preferred stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $32.1 and $40.3, respectively	`AccountsReceivableNetCurrent`	$1.64B	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 $32.1 and $40.3, respectively	`AccountsReceivableNetCurrent`	$1.49B	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
Inventories, net	`InventoryNet`	$1.09B	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.09B	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$265.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$256.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.35B	USD	Point-in-time
Series A convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	1.04M	shares	Point-in-time
Series A convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	1.04M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.32B	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.04M	shares	Point-in-time
Series A convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.04M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $730.1 and $705.7, respectively	`PropertyPlantAndEquipmentNet`	$668.40M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $730.1 and $705.7, respectively	`PropertyPlantAndEquipmentNet`	$684.50M	USD	Point-in-time
Goodwill	`Goodwill`	$5.29B	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`	$5.26B	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$3.49B	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$3.65B	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
Common stock, shares issued	`CommonStockSharesIssued`	204.00M	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$616.30M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$600.90M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	200.10M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	204.00M	shares	Point-in-time
Total assets	`Assets`	$13.58B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	200.10M	shares	Point-in-time
Total assets	`Assets`	$13.36B	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	9.22M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	10.82M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.06B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.01B	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$835.50M	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$910.60M	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`	$1.95B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.93B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$9.49B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$9.49B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$206.20M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$189.60M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$531.80M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$508.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.18B	USD	Point-in-time
Total liabilities	`Liabilities`	$12.11B	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`	$1.04B	USD	Point-in-time
Series A convertible preferred stock, $0.01 par value	`TemporaryEquityCarryingAmountAttributableToParent`	$1.04B	USD	Point-in-time
Preferred stock, $0.01 par value: Authorized shares: 200,000,000; Issued and outstanding shares: 1,041,819 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: 1,041,819 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: 203,996,914 and 200,095,232, respectively	`CommonStockValue`	$2.10M	USD	Point-in-time
Common stock, $0.01 par value: Authorized shares: 1,300,000,000; issued and outstanding shares: 203,996,914 and 200,095,232, respectively	`CommonStockValue`	$2.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.53B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.51B	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-1.85B	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-1.75B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-194.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-155.90M	USD	Point-in-time
Treasury stock, at cost: 10,818,615 shares and 9,223,081 shares, respectively	`TreasuryStockValue`	$275.70M	USD	Point-in-time
Treasury stock, at cost: 10,818,615 shares and 9,223,081 shares, respectively	`TreasuryStockValue`	$251.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$355.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$573.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$207.80M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.58B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.36B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.03B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.07B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.40B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.39B	USD	1 Quarter
Gross profit	`GrossProfit`	$641.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$672.20M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$311.10M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$292.70M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$171.50M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$180.40M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$154.70M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$157.80M	USD	1 Quarter
Restructuring costs, net	`RestructuringCharges`	$23.70M	USD	1 Quarter
Restructuring costs, net	`RestructuringCharges`	$44.40M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$663.30M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$673.00M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-31.80M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$8.90M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-12.50M	USD	1 Quarter
Interest expense	`InterestExpense`	$149.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$137.50M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$500.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.10M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-191.30M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-127.10M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-29.50M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-31.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-159.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-97.60M	USD	1 Quarter
Series A convertible preferred stock dividend	`TemporaryEquityDividendsAdjustment`	$13.80M	USD	1 Quarter
Series A convertible preferred stock dividend	`TemporaryEquityDividendsAdjustment`	$14.30M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-173.70M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-111.90M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.55	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.89	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.55	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.89	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	194.90M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	201.70M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	201.70M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	194.90M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-159.90M	USD	1 Quarter
Net loss	`ProfitLoss`	$-97.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$205.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$199.20M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$23.50M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$23.50M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-53.40M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-38.30M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$164.20M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-69.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$10.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-50.60M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-15.20M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.10M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-23.90M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-217.20M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$1.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-9.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-42.70M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-124.00M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.90M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.40M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.80M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.40M	USD	1 Quarter
Long-term debt repaid	`RepaymentsOfLongTermDebt`	$8.00M	USD	1 Quarter
Long-term debt repaid	`RepaymentsOfLongTermDebt`	$108.00M	USD	1 Quarter
Dividends paid on Series A convertible preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$14.30M	USD	1 Quarter
Proceeds from the issuance of common shares under equity-based compensation plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$3.90M	USD	1 Quarter
Proceeds from the issuance of common shares under equity-based compensation plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$900.00K	USD	1 Quarter
Tax withholding payments for vested equity-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.90M	USD	1 Quarter
Tax withholding payments for vested equity-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$24.30M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-113.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-42.70M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-24.40M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.90M	USD	1 Quarter
Change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-196.00M	USD	1 Quarter
Change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-203.90M	USD	1 Quarter
Cash and cash equivalent at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$521.90M	USD	Point-in-time
Cash and cash equivalent at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$325.90M	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`	$521.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$325.90M	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`	204.00M	shares	Point-in-time
Beginning balance, Shares	`CommonStockSharesOutstanding`	200.10M	shares	Point-in-time
Ending balance, Shares	`CommonStockSharesOutstanding`	204.00M	shares	Point-in-time
Ending balance, Shares	`CommonStockSharesOutstanding`	200.10M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$355.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$573.40M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$207.80M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-159.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-97.60M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-107.70M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-38.40M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$355.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$573.40M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$207.80M	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`	$-97.60M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-51.30M	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-99.60M	USD	1 Quarter
Pension and other postretirement benefit activity	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-300.00K	USD	1 Quarter
Pension and other postretirement benefit activity	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$500.00K	USD	1 Quarter
Gain (loss) on hedging instruments	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-7.60M	USD	1 Quarter
Gain (loss) on hedging instruments	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$12.60M	USD	1 Quarter
Total other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-107.70M	USD	1 Quarter
Total other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-38.40M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-136.00M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-267.60M	USD	1 Quarter

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