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10-Q Filing

BENCHMARK ELECTRONICS INC CIK: 863436 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-025050
Period End Date 20210331
Filing Date 20210506
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance bhe-10q_20210331_htm.xml
Balance Sheet 79 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts, accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $1.37M USD Point-in-time
Allowance for doubtful accounts, accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $1.37M USD Point-in-time
Preferred shares, par value PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $390.81M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $400.43M USD Point-in-time
Preferred shares, par value PreferredStockParOrStatedValuePerShare $0.10 USD Point-in-time
Restricted cash RestrictedCashCurrent $5.18M USD Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred shares, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred shares, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred shares, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,371 and $1,371, respectively AccountsReceivableNetCurrent $276.29M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,371 and $1,371, respectively AccountsReceivableNetCurrent $309.33M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $142.78M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $148.21M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Inventories InventoryNet $327.38M USD Point-in-time
Inventories InventoryNet $355.16M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $26.46M USD Point-in-time
Common stock, issued CommonStockSharesIssued 36.30M shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $32.46M USD Point-in-time
Common stock, issued CommonStockSharesIssued 36.06M shares Point-in-time
Income taxes receivable IncomeTaxesReceivable $900.00K USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 36.06M shares Point-in-time
Income taxes receivable IncomeTaxesReceivable $417.00K USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 36.30M shares Point-in-time
Total current assets AssetsCurrent $1.20B USD Point-in-time
Total current assets AssetsCurrent $1.21B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $185.27M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $183.29M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $88.92M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $79.97M USD Point-in-time
Goodwill Goodwill $192.12M USD Point-in-time
Goodwill Goodwill $192.12M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $4.92M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $4.92M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $78.06M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $79.61M USD Point-in-time
Total assets Assets $1.76B USD Point-in-time
Total assets Assets $1.74B USD Point-in-time
Current installments of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $9.16M USD Point-in-time
Current installments of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $9.21M USD Point-in-time
Accounts payable AccountsPayableCurrent $282.21M USD Point-in-time
Accounts payable AccountsPayableCurrent $325.23M USD Point-in-time
Advance payments from customers ContractWithCustomerLiabilityCurrent $76.83M USD Point-in-time
Advance payments from customers ContractWithCustomerLiabilityCurrent $84.12M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $6.67M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $5.57M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $100.07M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $87.17M USD Point-in-time
Total current liabilities LiabilitiesCurrent $505.11M USD Point-in-time
Total current liabilities LiabilitiesCurrent $481.14M USD Point-in-time
Long-term debt, less current installments LongTermDebtAndCapitalLeaseObligations $128.86M USD Point-in-time
Long-term debt, less current installments LongTermDebtAndCapitalLeaseObligations $131.05M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $79.66M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $72.12M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $65.55M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $64.95M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $4.63M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $4.79M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Preferred stock, $0.10 par value; 5,000 shares authorized, none issued PreferredStockValue - USD Point-in-time
Preferred stock, $0.10 par value; 5,000 shares authorized, none issued PreferredStockValue - USD Point-in-time
Common stock, $0.10 par value; 145,000 shares authorized; issued and outstanding 36,062 and 36,295, respectively CommonStockValue $3.63M USD Point-in-time
Common stock, $0.10 par value; 145,000 shares authorized; issued and outstanding 36,062 and 36,295, respectively CommonStockValue $3.61M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $505.66M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $510.40M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $486.27M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $492.20M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-17.99M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-16.65M USD Point-in-time
Total shareholders equity StockholdersEquity $989.59M USD Point-in-time
Total shareholders equity StockholdersEquity $977.55M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.74B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.76B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Sales Revenues $514.96M USD 1 Quarter
Sales Revenues $505.72M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $463.49M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $471.60M USD 1 Quarter
Gross profit GrossProfit $42.23M USD 1 Quarter
Gross profit GrossProfit $43.36M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $31.57M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $30.55M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $2.38M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $1.60M USD 1 Quarter
Restructuring charges and other costs RestructuringChargesAndOtherCosts $1.59M USD 1 Quarter
Restructuring charges and other costs RestructuringChargesAndOtherCosts $2.92M USD 1 Quarter
Ransomware related incident costs (recovery), net RansomwareRelatedIncidentCostsNet $-3.44M USD 1 Quarter
Ransomware related incident costs (recovery), net RansomwareRelatedIncidentCostsNet $7.70M USD Annual
Income from operations OperatingIncomeLoss $6.49M USD 1 Quarter
Income from operations OperatingIncomeLoss $11.93M USD 1 Quarter
Interest expense InterestExpense $2.15M USD 1 Quarter
Interest expense InterestExpense $1.70M USD 1 Quarter
Interest income InvestmentIncomeInterest $165.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $599.00K USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-276.00K USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-662.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $9.67M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $4.72M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.76M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $873.00K USD 1 Quarter
Net income NetIncomeLoss $7.92M USD 1 Quarter
Net income NetIncomeLoss $3.85M USD 1 Quarter
Basic EarningsPerShareBasic $0.22 USD 1 Quarter
Basic EarningsPerShareBasic $0.10 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.10 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.22 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 36.79M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 36.25M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 37.07M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 36.71M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $3.85M USD 1 Quarter
Net income NetIncomeLoss $7.92M USD 1 Quarter
Depreciation Depreciation $8.97M USD 1 Quarter
Depreciation Depreciation $9.30M USD 1 Quarter
Amortization AdjustmentForAmortization $2.08M USD 1 Quarter
Amortization AdjustmentForAmortization $2.89M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-161.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-885.00K USD 1 Quarter
Asset impairments AssetImpairmentCharges $1.01M USD 1 Quarter
Gain on the sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $31.00K USD 1 Quarter
Gain on the sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $8.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.85M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $2.74M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-6.41M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-32.56M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $-1.10M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $5.43M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $23.77M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $28.70M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $6.67M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $3.11M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $14.88M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $42.44M USD 1 Quarter
Advance payments from customers IncreaseDecreaseInContractWithCustomerLiability $1.78M USD 1 Quarter
Advance payments from customers IncreaseDecreaseInContractWithCustomerLiability $-7.29M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-11.99M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-18.95M USD 1 Quarter
Operating leases IncreaseDecreaseInLeasingReceivables $83.00K USD 1 Quarter
Operating leases IncreaseDecreaseInLeasingReceivables $608.00K USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $648.00K USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $-250.00K USD 1 Quarter
Net cash provided by (used in) operations NetCashProvidedByUsedInOperatingActivities $-3.11M USD 1 Quarter
Net cash provided by (used in) operations NetCashProvidedByUsedInOperatingActivities $36.61M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $11.86M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $5.77M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $7.00K USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $13.00K USD 1 Quarter
Additions to purchased software PaymentsForSoftware $1.04M USD 1 Quarter
Additions to purchased software PaymentsForSoftware $652.00K USD 1 Quarter
Cash received from business divestitures ProceedsFromDivestitureOfBusinesses $1.34M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-57.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-6.41M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.49M USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $276.00K USD 1 Quarter
Proceeds from stock options exercised ProceedsFromStockOptionsExercised $359.00K USD 1 Quarter
Employee taxes paid for shares withheld PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.77M USD 1 Quarter
Employee taxes paid for shares withheld PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.92M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.80M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.54M USD 1 Quarter
Borrowings under credit agreement ProceedsFromIssuanceOfMediumTermNotes $110.00M USD 1 Quarter
Principal payments on credit agreement RepaymentsOfMediumTermNotes $16.88M USD 1 Quarter
Principal payments on credit agreement RepaymentsOfMediumTermNotes $1.88M USD 1 Quarter
Principal payments on finance leases FinanceLeasePrincipalPayments $312.00K USD 1 Quarter
Principal payments on finance leases FinanceLeasePrincipalPayments $380.00K USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $19.33M USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $13.05M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $66.54M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-23.76M USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-4.11M USD 1 Quarter
Effect of exchange rate changes EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-2.01M USD 1 Quarter
Net increase in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $4.44M USD 1 Quarter
Net increase in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $47.83M USD 1 Quarter
Cash and cash equivalents and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $400.43M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $363.96M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $395.99M USD Point-in-time
Cash and cash equivalents and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $411.79M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $363.96M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $395.99M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $400.43M USD Point-in-time
Cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $411.79M USD Point-in-time
Stockholders Equity 27 line items
Line Item Tag Value Unit Period
Beginning Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $989.59M USD Point-in-time
Beginning Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.01B USD Point-in-time
Beginning Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $977.55M USD Point-in-time
Beginning Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $989.62M USD Point-in-time
Balances, shares CommonStockSharesOutstanding 36.06M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 36.30M shares Point-in-time
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.74M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.85M USD 1 Quarter
Shares repurchased and retired, value StockRepurchasedAndRetiredDuringPeriodValue $19.33M USD 1 Quarter
Shares repurchased and retired, value StockRepurchasedAndRetiredDuringPeriodValue $13.05M USD 1 Quarter
Stock options exercised, value StockIssuedDuringPeriodValueStockOptionsExercised $359.00K USD 1 Quarter
Stock options exercised, value StockIssuedDuringPeriodValueStockOptionsExercised $276.00K USD 1 Quarter
Stock options exercised, shares StockIssuedDuringPeriodSharesStockOptionsExercised 46,000.00 shares 1 Quarter
Shares withheld for taxes, value RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-1.77M USD 1 Quarter
Shares withheld for taxes, value RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-2.92M USD 1 Quarter
Dividends declared Dividends $5.77M USD 1 Quarter
Dividends declared Dividends $5.83M USD 1 Quarter
Net income NetIncomeLoss $3.85M USD 1 Quarter
Net income NetIncomeLoss $7.92M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-1.34M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-5.24M USD 1 Quarter
Ending Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $989.59M USD Point-in-time
Ending Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.01B USD Point-in-time
Ending Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $977.55M USD Point-in-time
Ending Balances, value StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $989.62M USD Point-in-time
Balances, shares CommonStockSharesOutstanding 36.06M shares Point-in-time
Balances, shares CommonStockSharesOutstanding 36.30M shares Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $3.85M USD 1 Quarter
Net income NetIncomeLoss $7.92M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.26M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-2.42M USD 1 Quarter
Unrealized (gain) loss on derivative, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsAndTax $-4.09M USD 1 Quarter
Unrealized (gain) loss on derivative, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsAndTax $945.00K USD 1 Quarter
Other OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $139.00K USD 1 Quarter
Other OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $115.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-1.34M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-5.24M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $6.58M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-1.38M USD 1 Quarter

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

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