10-Q Filing

AVANOS MEDICAL, INC. CIK: 1606498 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001606498-18-000033`
Period End Date	20180331
Filing Date	20180502
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	hyh-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 40 Cash Flow Statement 46 Comprehensive Income 12

Balance Sheet 74 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$203.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$219.70M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$143.10M	USD	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
Accounts receivable, net of allowances	`AccountsReceivableNetCurrent`	$203.00M	USD	Point-in-time
Accounts receivable, net of allowances	`AccountsReceivableNetCurrent`	$199.50M	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
Inventories	`InventoryNet`	$92.30M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventories	`InventoryNet`	$91.10M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	47.01M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.80M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.40M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	46.92M	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$632.50M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$650.40M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.16B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.16B	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$117.50M	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$109.90M	USD	Point-in-time
Goodwill	`Goodwill`	$764.70M	USD	Point-in-time
Goodwill	`Goodwill`	$764.60M	USD	Point-in-time
Other Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$148.90M	USD	Point-in-time
Other Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$144.60M	USD	Point-in-time
Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$11.30M	USD	Point-in-time
Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$7.60M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$3.80M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$4.10M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.20B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.20B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$39.80M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$194.40M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$171.20M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$144.90M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$128.30M	USD	Point-in-time
Liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$33.90M	USD	Point-in-time
Liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$37.90M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$360.60M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$389.80M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$541.10M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$542.00M	USD	Point-in-time
Deferred Tax Liabilities	`DeferredIncomeTaxLiabilitiesNet`	$18.30M	USD	Point-in-time
Deferred Tax Liabilities	`DeferredIncomeTaxLiabilitiesNet`	$17.80M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$30.20M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$31.80M	USD	Point-in-time
Total Liabilities	`Liabilities`	$980.50M	USD	Point-in-time
Total Liabilities	`Liabilities`	$951.10M	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, 47,014,536 outstanding as of March 31, 2018 and 46,920,076 outstanding as of December 31, 2017	`CommonStockValue`	$500.00K	USD	Point-in-time
Common stock - $0.01 par value - authorized 300,000,000 shares, 47,014,536 outstanding as of March 31, 2018 and 46,920,076 outstanding as of December 31, 2017	`CommonStockValue`	$500.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.56B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.55B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-279.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-299.90M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$4.50M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$4.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-21.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-31.30M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.22B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.25B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$2.20B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$2.20B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$145.70M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$156.40M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$64.20M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$65.30M	USD	1 Quarter
Gross Profit	`GrossProfit`	$81.50M	USD	1 Quarter
Gross Profit	`GrossProfit`	$91.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.90M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$86.40M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$84.80M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-7.00M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-1.80M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-17.60M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-7.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$400.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$8.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.60M	USD	1 Quarter
Loss Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-14.80M	USD	1 Quarter
Loss Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-24.80M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.50M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-9.90M	USD	1 Quarter
Loss from Continuing Operations	`IncomeLossFromContinuingOperations`	$-11.30M	USD	1 Quarter
Loss from Continuing Operations	`IncomeLossFromContinuingOperations`	$-14.90M	USD	1 Quarter
Income from Discontinued Operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$31.50M	USD	1 Quarter
Income from Discontinued Operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$27.70M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$12.80M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$20.20M	USD	1 Quarter
Continuing Operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.32	USD	1 Quarter
Continuing Operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.24	USD	1 Quarter
Discontinued Operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.67	USD	1 Quarter
Discontinued Operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.59	USD	1 Quarter
Basic Earnings Per Share (in dollars per share)	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Basic Earnings Per Share (in dollars per share)	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Continuing Operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.24	USD	1 Quarter
Continuing Operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.32	USD	1 Quarter
Discontinued Operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.67	USD	1 Quarter
Discontinued Operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.59	USD	1 Quarter
Diluted Earnings Per Share (in dollars per share)	`EarningsPerShareDiluted`	$0.43	USD	1 Quarter
Diluted Earnings Per Share (in dollars per share)	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$12.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.80M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.40M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.50M	USD	1 Quarter
Net loss on asset dispositions	`GainLossOnDispositionOfAssets1`	$-800.00K	USD	1 Quarter
Net loss on asset dispositions	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.50M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-8.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$18.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$900.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.40M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$11.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$20.10M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-13.60M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-19.60M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$600.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$3.50M	USD	1 Quarter
Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$37.00M	USD	1 Quarter
Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$26.30M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$9.60M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$10.20M	USD	1 Quarter
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.60M	USD	1 Quarter
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.20M	USD	1 Quarter
Debt repayments	`RepaymentsOfSecuredDebt`	-	USD	1 Quarter
Debt repayments	`RepaymentsOfSecuredDebt`	$40.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$100.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsAndExcessTaxBenefitsFromStockOptionExercises`	$500.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsAndExcessTaxBenefitsFromStockOptionExercises`	$3.40M	USD	1 Quarter
Cash (Used in) Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$500.00K	USD	1 Quarter
Cash (Used in) Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-36.70M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.10M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.40M	USD	1 Quarter
(Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-16.60M	USD	1 Quarter
(Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$29.40M	USD	1 Quarter
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$203.10M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$219.70M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$143.10M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$113.70M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$203.10M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$219.70M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$143.10M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$113.70M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$12.80M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$20.20M	USD	1 Quarter
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$9.80M	USD	1 Quarter
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$9.30M	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$300.00K	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$500.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$700.00K	USD	1 Quarter
Total Other Comprehensive Income, Net of Tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$10.70M	USD	1 Quarter
Total Other Comprehensive Income, Net of Tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$9.50M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$29.70M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$23.50M	USD	1 Quarter

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