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10-Q Filing

TTM TECHNOLOGIES INC CIK: 1116942 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001564590-22-019520
Period End Date 20220331
Filing Date 20220511
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance ttmi-10q_20220404_htm.xml
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 108.19M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $519.08M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $537.68M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 108.38M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 101.39M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $412.43M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 103.53M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $386.35M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $324.86M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $318.71M USD Point-in-time
Treasury stock, common shares TreasuryStockCommonShares 7.00M shares Point-in-time
Treasury stock, common shares TreasuryStockCommonShares 4.66M shares Point-in-time
Inventories InventoryNet $127.61M USD Point-in-time
Inventories InventoryNet $137.34M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $30.91M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $46.62M USD Point-in-time
Total current assets AssetsCurrent $1.41B USD Point-in-time
Total current assets AssetsCurrent $1.43B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $663.39M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $665.75M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $19.50M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $20.80M USD Point-in-time
Goodwill Goodwill $637.32M USD Point-in-time
Goodwill Goodwill $637.32M USD Point-in-time
Definite-lived intangibles, net FiniteLivedIntangibleAssetsNet $239.92M USD Point-in-time
Definite-lived intangibles, net FiniteLivedIntangibleAssetsNet $230.26M USD Point-in-time
Deposits and other non-current assets OtherAssetsNoncurrent $54.34M USD Point-in-time
Deposits and other non-current assets OtherAssetsNoncurrent $59.48M USD Point-in-time
Total assets Assets $3.04B USD Point-in-time
Total assets Assets $3.03B USD Point-in-time
Accounts payable AccountsPayableCurrent $383.93M USD Point-in-time
Accounts payable AccountsPayableCurrent $361.48M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $22.52M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $14.19M USD Point-in-time
Accrued salaries, wages and benefits EmployeeRelatedLiabilitiesCurrent $89.45M USD Point-in-time
Accrued salaries, wages and benefits EmployeeRelatedLiabilitiesCurrent $88.99M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $91.12M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $93.03M USD Point-in-time
Total current liabilities LiabilitiesCurrent $586.57M USD Point-in-time
Total current liabilities LiabilitiesCurrent $558.15M USD Point-in-time
Long-term debt, net of discount and issuance costs LongTermDebtNoncurrent $927.82M USD Point-in-time
Long-term debt, net of discount and issuance costs LongTermDebtNoncurrent $928.21M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $13.92M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $15.25M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $68.91M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $67.63M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $1.01B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $1.01B USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.001 par value; 300,000 shares authorized; 108,383 and 108,194 shares issued as of April 4, 2022 and January 3, 2022, respectively; 101,387 and 103,533 shares outstanding as of April 4, 2022 and January 3, 2022, respectively CommonStockValue $108.00K USD Point-in-time
Common stock, $0.001 par value; 300,000 shares authorized; 108,383 and 108,194 shares issued as of April 4, 2022 and January 3, 2022, respectively; 101,387 and 103,533 shares outstanding as of April 4, 2022 and January 3, 2022, respectively CommonStockValue $108.00K USD Point-in-time
Treasury stock common stock at cost; 6,996 and 4,661 shares as of April 4, 2022 and January 3, 2022, respectively TreasuryStockCommonValue $93.47M USD Point-in-time
Treasury stock common stock at cost; 6,996 and 4,661 shares as of April 4, 2022 and January 3, 2022, respectively TreasuryStockCommonValue $63.81M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $840.11M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $842.79M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $723.50M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $706.26M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-27.25M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-25.10M USD Point-in-time
Total stockholders equity StockholdersEquity $1.44B USD Point-in-time
Total stockholders equity StockholdersEquity $1.45B USD Point-in-time
Total stockholders equity StockholdersEquity $1.46B USD Point-in-time
Total stockholders equity StockholdersEquity $1.44B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $3.03B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $3.04B USD Point-in-time
Income Statement 35 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $581.26M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $526.43M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $490.34M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $444.83M USD 1 Quarter
Gross profit GrossProfit $81.60M USD 1 Quarter
Gross profit GrossProfit $90.92M USD 1 Quarter
Selling and marketing SellingAndMarketingExpense $18.27M USD 1 Quarter
Selling and marketing SellingAndMarketingExpense $16.28M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $31.53M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $32.95M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $5.55M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $4.47M USD 1 Quarter
Amortization of definite-lived intangibles AmortizationOfIntangibleAssets $9.52M USD 1 Quarter
Amortization of definite-lived intangibles AmortizationOfIntangibleAssets $8.27M USD 1 Quarter
Total operating expenses OperatingExpenses $61.80M USD 1 Quarter
Total operating expenses OperatingExpenses $65.06M USD 1 Quarter
Operating income OperatingIncomeLoss $25.87M USD 1 Quarter
Operating income OperatingIncomeLoss $19.80M USD 1 Quarter
Interest expense InterestExpense $11.36M USD 1 Quarter
Interest expense InterestExpense $11.39M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-15.22M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $2.51M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $1.97M USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-9.39M USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-24.10M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-4.30M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $16.48M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-769.00K USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-1.11M USD 1 Quarter
Net income (loss) NetIncomeLoss $17.25M USD 1 Quarter
Net income (loss) NetIncomeLoss $-3.19M USD 1 Quarter
Basic earnings (loss) per share EarningsPerShareBasic $0.17 USD 1 Quarter
Basic earnings (loss) per share EarningsPerShareBasic $-0.03 USD 1 Quarter
Diluted earnings (loss) per share EarningsPerShareDiluted $0.17 USD 1 Quarter
Diluted earnings (loss) per share EarningsPerShareDiluted $-0.03 USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-3.19M USD 1 Quarter
Net income (loss) ProfitLoss $17.25M USD 1 Quarter
Depreciation of property, plant and equipment DepreciationIncludingDepreciationOfDiscontinuedOperations $21.48M USD 1 Quarter
Depreciation of property, plant and equipment DepreciationIncludingDepreciationOfDiscontinuedOperations $21.50M USD 1 Quarter
Amortization of definite-lived intangible assets AmortizationOfIntangibleAssetsIncludingCostOfGoodAndServicesAmortization $9.66M USD 1 Quarter
Amortization of definite-lived intangible assets AmortizationOfIntangibleAssetsIncludingCostOfGoodAndServicesAmortization $10.90M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $537.00K USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $533.00K USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-15.22M USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $-683.00K USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $3.30M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $4.23M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $4.21M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-534.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-1.36M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $26.09M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-14.34M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $-6.15M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $-1.55M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $5.47M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $9.73M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $15.85M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $6.50M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $24.11M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $10.88M USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $-768.00K USD 1 Quarter
Contract liabilities IncreaseDecreaseInContractWithCustomerLiability $8.34M USD 1 Quarter
Accrued salaries, wages and benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-15.07M USD 1 Quarter
Accrued salaries, wages and benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-454.00K USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $-7.13M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $1.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $35.99M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $41.15M USD 1 Quarter
Purchase of property, plant and equipment and other assets PaymentsToAcquirePropertyPlantAndEquipment $23.45M USD 1 Quarter
Purchase of property, plant and equipment and other assets PaymentsToAcquirePropertyPlantAndEquipment $21.80M USD 1 Quarter
Proceeds from sale of property, plant and equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $25.00K USD 1 Quarter
Proceeds from sale of property, plant and equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $831.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-23.42M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-20.97M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $30.23M USD 1 Quarter
Cash used to settle warrants CashUsedToSettleWarrants $887.00K USD 1 Quarter
Proceeds from long-term debt borrowing ProceedsFromIssuanceOfLongTermDebt $500.00M USD 1 Quarter
Repayment of long-term debt borrowings RepaymentsOfLongTermDebtExcludingAssumedDebtAndConvertibleDebt $425.84M USD 1 Quarter
Payment of debt issuance costs PaymentsOfDebtIssuanceCosts $4.77M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-1.31M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $68.08M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-31.12M USD 1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-51.00K USD 1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-176.00K USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-18.60M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $88.08M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $537.68M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $519.08M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $451.56M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $539.65M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $539.65M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $537.68M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $519.08M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $451.56M USD Point-in-time
Cash paid, net for interest InterestPaidNet $17.56M USD 1 Quarter
Cash paid, net for interest InterestPaidNet $15.24M USD 1 Quarter
Cash paid, net for income taxes IncomeTaxesPaidNet $713.00K USD 1 Quarter
Cash paid, net for income taxes IncomeTaxesPaidNet $3.26M USD 1 Quarter
Property, plant and equipment recorded in accounts payable CapitalExpendituresIncurredButNotYetPaid $31.66M USD 1 Quarter
Property, plant and equipment recorded in accounts payable CapitalExpendituresIncurredButNotYetPaid $28.96M USD 1 Quarter
Issuance of common stock for warrant settlement IssuanceOfCommonStockForWarrantSettlement $68.00K USD 1 Quarter
Issuance of common stock for warrant settlement IssuanceOfCommonStockForWarrantSettlement $589.00K USD 1 Quarter
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $1.44B USD Point-in-time
Beginning balance StockholdersEquity $1.45B USD Point-in-time
Beginning balance StockholdersEquity $1.46B USD Point-in-time
Beginning balance StockholdersEquity $1.44B USD Point-in-time
Net income (loss) NetIncomeLoss $17.25M USD 1 Quarter
Net income (loss) NetIncomeLoss $-3.19M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $2.15M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $1.79M USD 1 Quarter
Repurchases of common stock StockRepurchasedDuringPeriodValue $30.23M USD 1 Quarter
Repurchases of common stock (in shares) StockRepurchasedDuringPeriodShares 2.37M shares 1 Quarter
Fair value of warrants reclassified to warrant liabilities FairValueOfWarrantsReclassifiedToWarrantLiabilities $-987.00K USD 1 Quarter
Fair value of warrants reclassified to warrant liabilities FairValueOfWarrantsReclassifiedToWarrantLiabilities $-4.34M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.21M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.23M USD 1 Quarter
Ending balance StockholdersEquity $1.44B USD Point-in-time
Ending balance StockholdersEquity $1.45B USD Point-in-time
Ending balance StockholdersEquity $1.46B USD Point-in-time
Ending balance StockholdersEquity $1.44B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $17.25M USD 1 Quarter
Net income (loss) NetIncomeLoss $-3.19M USD 1 Quarter
Foreign currency translation adjustments, net OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-3.00K USD 1 Quarter
Foreign currency translation adjustments, net OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-36.00K USD 1 Quarter
Unrealized gain (loss) on effective cash flow hedges during the period, net OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-263.00K USD 1 Quarter
Unrealized gain (loss) on effective cash flow hedges during the period, net OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $153.00K USD 1 Quarter
Loss realized in the statement of operations, net OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $2.03M USD 1 Quarter
Loss realized in the statement of operations, net OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $2.05M USD 1 Quarter
Net OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $2.19M USD 1 Quarter
Net OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $1.79M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $2.15M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $1.79M USD 1 Quarter
Comprehensive income (loss), net of tax ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-1.41M USD 1 Quarter
Comprehensive income (loss), net of tax ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $19.40M USD 1 Quarter

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

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