10-Q Filing

AVANOS MEDICAL, INC. CIK: 1606498 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001606498-17-000061`
Period End Date	20170930
Filing Date	20171101
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	hyh-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 56 Cash Flow Statement 54 Comprehensive Income 24

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$113.70M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$166.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$129.50M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowances	`AccountsReceivableNetCurrent`	$194.40M	USD	Point-in-time
Accounts receivable, net of allowances	`AccountsReceivableNetCurrent`	$190.10M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventories	`InventoryNet`	$300.50M	USD	Point-in-time
Inventories	`InventoryNet`	$272.50M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.20M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	46.84M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	46.68M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$20.00M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$593.50M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$681.00M	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$260.80M	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$261.10M	USD	Point-in-time
Goodwill	`Goodwill`	$1.03B	USD	Point-in-time
Goodwill	`Goodwill`	$1.03B	USD	Point-in-time
Other Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$169.80M	USD	Point-in-time
Other Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$154.80M	USD	Point-in-time
Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$16.30M	USD	Point-in-time
Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$15.10M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$3.70M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$3.60M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.15B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.07B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$172.50M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$173.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$151.30M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$146.90M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$324.40M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$319.40M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$579.00M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$580.40M	USD	Point-in-time
Deferred Tax Liabilities	`DeferredIncomeTaxLiabilitiesNet`	$36.50M	USD	Point-in-time
Deferred Tax Liabilities	`DeferredIncomeTaxLiabilitiesNet`	$35.80M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$31.90M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$30.10M	USD	Point-in-time
Total Liabilities	`Liabilities`	$968.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$969.30M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - $0.01 par value - authorized 20,000,000 shares, none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - $0.01 par value - authorized 20,000,000 shares, none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $0.01 par value - authorized 300,000,000 shares, 46,835,044 outstanding as of September 30, 2017 and 46,681,798 outstanding as of December 31, 2016	`CommonStockValue`	$500.00K	USD	Point-in-time
Common stock - $0.01 par value - authorized 300,000,000 shares, 46,835,044 outstanding as of September 30, 2017 and 46,681,798 outstanding as of December 31, 2016	`CommonStockValue`	$500.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.55B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.53B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-379.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-332.70M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$1.90M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$3.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-50.10M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.10B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.18B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$2.15B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$2.07B	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$1.18B	USD	3 Qtrs
Net Sales	`SalesRevenueNet`	$401.40M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$397.50M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$1.20B	USD	3 Qtrs
Cost of products sold	`CostOfGoodsSold`	$259.50M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$258.10M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$767.10M	USD	3 Qtrs
Cost of products sold	`CostOfGoodsSold`	$765.40M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$415.20M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$430.80M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$143.30M	USD	1 Quarter
Gross Profit	`GrossProfit`	$138.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.90M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$29.10M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$28.10M	USD	3 Qtrs
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$302.50M	USD	3 Qtrs
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$301.00M	USD	3 Qtrs
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$100.30M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$101.20M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-3.00M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-5.90M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-15.90M	USD	3 Qtrs
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-13.50M	USD	3 Qtrs
Operating Profit	`OperatingIncomeLoss`	$71.60M	USD	3 Qtrs
Operating Profit	`OperatingIncomeLoss`	$84.30M	USD	3 Qtrs
Operating Profit	`OperatingIncomeLoss`	$28.80M	USD	1 Quarter
Operating Profit	`OperatingIncomeLoss`	$20.90M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.60M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$200.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$700.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$500.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$8.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.40M	USD	1 Quarter
Interest expense	`InterestExpense`	$24.70M	USD	3 Qtrs
Interest expense	`InterestExpense`	$23.50M	USD	3 Qtrs
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.70M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$47.40M	USD	3 Qtrs
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.40M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$62.40M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$17.60M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$15.90M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$3.60M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$4.80M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$9.10M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$46.50M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$16.60M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$29.80M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.00	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.64	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.35	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.98	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.63	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.35	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.50M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$16.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.80M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.50M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.40M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$11.90M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$12.30M	USD	3 Qtrs
Net loss on asset dispositions	`GainLossOnDispositionOfAssets1`	$-100.00K	USD	3 Qtrs
Net loss on asset dispositions	`GainLossOnDispositionOfAssets1`	$-3.80M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-11.00M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.10M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-14.80M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$28.00M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.00M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.10M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$4.10M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$2.20M	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$10.80M	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-6.60M	USD	3 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	$5.80M	USD	3 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	$9.60M	USD	3 Qtrs
Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$143.90M	USD	3 Qtrs
Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$80.10M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$21.70M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$30.60M	USD	3 Qtrs
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	3 Qtrs
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$175.00M	USD	3 Qtrs
Proceeds from dispositions of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	3 Qtrs
Proceeds from dispositions of property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	3 Qtrs
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-196.70M	USD	3 Qtrs
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.50M	USD	3 Qtrs
Line of credit facility proceeds	`ProceedsFromLinesOfCredit`	$72.00M	USD	3 Qtrs
Line of credit facility proceeds	`ProceedsFromLinesOfCredit`	-	USD	3 Qtrs
Line of credit facility repayments	`RepaymentsOfLinesOfCredit`	$62.00M	USD	3 Qtrs
Line of credit facility repayments	`RepaymentsOfLinesOfCredit`	-	USD	3 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$900.00K	USD	3 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$2.00M	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$200.00K	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.30M	USD	3 Qtrs
Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$9.30M	USD	3 Qtrs
Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$300.00K	USD	3 Qtrs
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$700.00K	USD	3 Qtrs
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.50M	USD	3 Qtrs
Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$52.40M	USD	3 Qtrs
Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-42.80M	USD	3 Qtrs
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$113.70M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$86.70M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$166.10M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$129.50M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$113.70M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$86.70M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$166.10M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$129.50M	USD	Point-in-time

Comprehensive Income 24 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$9.10M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$46.50M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$16.60M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$29.80M	USD	3 Qtrs
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-500.00K	USD	1 Quarter
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$18.00M	USD	3 Qtrs
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$3.50M	USD	1 Quarter
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$3.00M	USD	3 Qtrs
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-100.00K	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-300.00K	USD	3 Qtrs
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-100.00K	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-200.00K	USD	3 Qtrs
Cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$200.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$1.70M	USD	3 Qtrs
Cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$100.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$1.20M	USD	3 Qtrs
Total Other Comprehensive Income (Loss), Net of Tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$3.70M	USD	1 Quarter
Total Other Comprehensive Income (Loss), Net of Tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Total Other Comprehensive Income (Loss), Net of Tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$19.50M	USD	3 Qtrs
Total Other Comprehensive Income (Loss), Net of Tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$4.90M	USD	3 Qtrs
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$66.00M	USD	3 Qtrs
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$34.70M	USD	3 Qtrs
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$8.90M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$20.30M	USD	1 Quarter

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