10-Q Filing

AVANOS MEDICAL, INC. CIK: 1606498 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001606498-19-000032`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	avns-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 40 Cash Flow Statement 46 Stockholders Equity 18 Comprehensive Income 12

Balance Sheet 71 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`	$384.50M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$348.30M	USD	Point-in-time
Accounts receivable, net of allowances	`AccountsReceivableNetCurrent`	$150.50M	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`	$135.00M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventories	`InventoryNet`	$121.40M	USD	Point-in-time
Inventories	`InventoryNet`	$129.60M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	47.50M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$57.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$47.10M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	47.44M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$660.00M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$713.60M	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$154.10M	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$159.60M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$54.90M	USD	Point-in-time
Goodwill	`Goodwill`	$783.70M	USD	Point-in-time
Goodwill	`Goodwill`	$783.60M	USD	Point-in-time
Other Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$168.20M	USD	Point-in-time
Other Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$163.20M	USD	Point-in-time
Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$6.30M	USD	Point-in-time
Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$6.20M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$7.60M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$6.40M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.83B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.83B	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$11.70M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$148.80M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$169.90M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$94.40M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$77.90M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$264.30M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$238.40M	USD	Point-in-time
Long-Term Debt	`LongTermDebt`	$247.70M	USD	Point-in-time
Long-Term Debt	`LongTermDebt`	$247.90M	USD	Point-in-time
Operating Lease Liabilities	`OperatingLeaseLiabilityNoncurrent`	$57.70M	USD	Point-in-time
Deferred Tax Liabilities	`DeferredIncomeTaxLiabilitiesNet`	$4.40M	USD	Point-in-time
Deferred Tax Liabilities	`DeferredIncomeTaxLiabilitiesNet`	$4.40M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$5.50M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$19.80M	USD	Point-in-time
Total Liabilities	`Liabilities`	$553.90M	USD	Point-in-time
Total Liabilities	`Liabilities`	$536.20M	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, 47,504,680 outstanding as of March 31, 2019 and 47,444,340 outstanding as of December 31, 2018	`CommonStockValue`	$500.00K	USD	Point-in-time
Common stock - $0.01 par value - authorized 300,000,000 shares, 47,504,680 outstanding as of March 31, 2019 and 47,444,340 outstanding as of December 31, 2018	`CommonStockValue`	$500.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.58B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.58B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-262.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-242.40M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$5.30M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$7.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-33.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-33.00M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.25B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.30B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.22B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.28B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.83B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.83B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$164.20M	USD	1 Quarter
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$156.40M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$65.30M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$65.40M	USD	1 Quarter
Gross Profit	`GrossProfit`	$98.80M	USD	1 Quarter
Gross Profit	`GrossProfit`	$91.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.90M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.20M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$106.40M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$86.40M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-6.80M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-1.80M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-24.60M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-7.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.40M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.80M	USD	1 Quarter
Loss Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-14.80M	USD	1 Quarter
Loss Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-25.90M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-5.60M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.50M	USD	1 Quarter
Loss from Continuing Operations	`IncomeLossFromContinuingOperations`	$-11.30M	USD	1 Quarter
Loss from Continuing Operations	`IncomeLossFromContinuingOperations`	$-20.30M	USD	1 Quarter
Income from Discontinued Operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$31.50M	USD	1 Quarter
Income from Discontinued Operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$20.20M	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-20.30M	USD	1 Quarter
Continuing Operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.24	USD	1 Quarter
Continuing Operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.43	USD	1 Quarter
Discontinued Operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued Operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.67	USD	1 Quarter
Basic (Loss) Earnings Per Share (in dollars per share)	`EarningsPerShareBasic`	$-0.43	USD	1 Quarter
Basic (Loss) 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`	$-0.43	USD	1 Quarter
Discontinued Operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.67	USD	1 Quarter
Discontinued Operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted (Loss) Earnings Per Share (in dollars per share)	`EarningsPerShareDiluted`	$-0.43	USD	1 Quarter
Diluted (Loss) Earnings Per Share (in dollars per share)	`EarningsPerShareDiluted`	$0.43	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$20.20M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-20.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.80M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.50M	USD	1 Quarter
Net loss on asset dispositions	`GainLossOnDispositionOfAssets1`	$-200.00K	USD	1 Quarter
Net loss on asset dispositions	`GainLossOnDispositionOfAssets1`	$-800.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-15.50M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.50M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$18.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-20.30M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.40M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-19.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$20.10M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-13.60M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-23.80M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$300.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$600.00K	USD	1 Quarter
Cash (Used in) Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$26.30M	USD	1 Quarter
Cash (Used in) Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.10M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$9.60M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$12.50M	USD	1 Quarter
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.60M	USD	1 Quarter
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.50M	USD	1 Quarter
Debt repayments	`RepaymentsOfSecuredDebt`	-	USD	1 Quarter
Debt repayments	`RepaymentsOfSecuredDebt`	$40.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.90M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$100.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$200.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.40M	USD	1 Quarter
Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.70M	USD	1 Quarter
Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-36.70M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.40M	USD	1 Quarter
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.10M	USD	1 Quarter
Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-36.20M	USD	1 Quarter
Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-16.60M	USD	1 Quarter
Cash and Cash Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$203.10M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$219.70M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$384.50M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$348.30M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$203.10M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$219.70M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$384.50M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$348.30M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.25B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.30B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.22B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.28B	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$20.20M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-20.30M	USD	1 Quarter
Issuance of common stock upon the exercise or redemption of share-based awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.30M	USD	1 Quarter
Issuance of common stock upon the exercise or redemption of share-based awards	`StockIssuedDuringPeriodValueStockOptionsExercised`	$200.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.20M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.50M	USD	1 Quarter
Purchases of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$1.90M	USD	1 Quarter
Purchases of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$100.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$9.50M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$700.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$1.25B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.30B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.22B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.28B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net (Loss) Income	`NetIncomeLoss`	$20.20M	USD	1 Quarter
Net (Loss) Income	`NetIncomeLoss`	$-20.30M	USD	1 Quarter
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$9.30M	USD	1 Quarter
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$700.00K	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$300.00K	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$500.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Total Other Comprehensive Income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$700.00K	USD	1 Quarter
Total Other Comprehensive Income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$9.50M	USD	1 Quarter
Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTax`	$-19.60M	USD	1 Quarter
Comprehensive (Loss) Income	`ComprehensiveIncomeNetOfTax`	$29.70M	USD	1 Quarter

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