10-Q Filing

AVANOS MEDICAL, INC. CIK: 1606498 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001606498-20-000029`
Period End Date	20200331
Filing Date	20200506
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	avns-20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 28 Cash Flow Statement 44 Stockholders Equity 8 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
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$205.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$187.70M	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`	$163.80M	USD	Point-in-time
Accounts receivable, net of allowances	`AccountsReceivableNetCurrent`	$159.60M	USD	Point-in-time
Inventories	`InventoryNet`	$153.10M	USD	Point-in-time
Inventories	`InventoryNet`	$145.90M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.70M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	47.76M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	47.73M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.50M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$524.10M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$538.50M	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$178.70M	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$184.50M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$64.00M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$59.90M	USD	Point-in-time
Goodwill	`Goodwill`	$800.90M	USD	Point-in-time
Goodwill	`Goodwill`	$799.80M	USD	Point-in-time
Other Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$179.30M	USD	Point-in-time
Other Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$184.30M	USD	Point-in-time
Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$16.10M	USD	Point-in-time
Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$11.00M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$10.90M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$11.30M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.76B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.80B	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$14.70M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$14.30M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$83.00M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$73.50M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$101.60M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$114.80M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$189.40M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$212.50M	USD	Point-in-time
Long-Term Debt	`LongTermDebt`	$248.20M	USD	Point-in-time
Long-Term Debt	`LongTermDebt`	$248.10M	USD	Point-in-time
Operating Lease Liabilities	`OperatingLeaseLiabilityNoncurrent`	$58.80M	USD	Point-in-time
Operating Lease Liabilities	`OperatingLeaseLiabilityNoncurrent`	$62.60M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$11.20M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$10.80M	USD	Point-in-time
Total Liabilities	`Liabilities`	$534.40M	USD	Point-in-time
Total Liabilities	`Liabilities`	$507.20M	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, 47,755,911 outstanding as of March 31, 2020 and 47,734,206 outstanding as of December 31, 2019	`CommonStockValue`	$500.00K	USD	Point-in-time
Common stock - $0.01 par value - authorized 300,000,000 shares, 47,755,911 outstanding as of March 31, 2020 and 47,734,206 outstanding as of December 31, 2019	`CommonStockValue`	$500.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.59B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.60B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-284.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-288.30M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$8.90M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$8.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-46.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-32.00M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.28B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.27B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.26B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.76B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.80B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$180.40M	USD	1 Quarter
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$164.20M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$65.40M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$78.30M	USD	1 Quarter
Gross Profit	`GrossProfit`	$98.80M	USD	1 Quarter
Gross Profit	`GrossProfit`	$102.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.40M	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`	$91.10M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-6.80M	USD	1 Quarter
Other expense, net	`OtherOperatingIncomeExpenseNet`	$-1.00M	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$-24.60M	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$600.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.40M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$700.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.30M	USD	1 Quarter
Loss Before Income Taxes	`IncomeLossAttributableToParent`	$-25.90M	USD	1 Quarter
Loss Before Income Taxes	`IncomeLossAttributableToParent`	$-3.00M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-5.60M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-6.70M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-20.30M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$3.70M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.43	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted (in earnings per share)	`EarningsPerShareDiluted`	$-0.43	USD	1 Quarter
Diluted (in earnings per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-20.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.60M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.50M	USD	1 Quarter
Net loss on asset dispositions	`GainLossOnDispositionOfAssets1`	$-200.00K	USD	1 Quarter
Net loss on asset dispositions	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-17.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-15.50M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.50M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-20.30M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-19.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-8.20M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-14.50M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-23.80M	USD	1 Quarter
Deferred income taxes and other	`OtherOperatingActivitiesCashFlowStatement`	$300.00K	USD	1 Quarter
Deferred income taxes and other	`OtherOperatingActivitiesCashFlowStatement`	$-6.40M	USD	1 Quarter
Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.10M	USD	1 Quarter
Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.80M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$12.50M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$5.20M	USD	1 Quarter
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.20M	USD	1 Quarter
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.50M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.90M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$200.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.70M	USD	1 Quarter
Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Effect of Exchange Rate Changes on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-6.60M	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`	$-17.60M	USD	1 Quarter
Cash and Cash Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$348.30M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$187.70M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$205.30M	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$384.50M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$348.30M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$187.70M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$205.30M	USD	Point-in-time
Cash and Cash Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$384.50M	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.28B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.27B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.26B	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-20.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.70M	USD	1 Quarter
Balance	`StockholdersEquity`	$1.28B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.27B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.26B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-20.30M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$3.70M	USD	1 Quarter
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$700.00K	USD	1 Quarter
Unrealized currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-15.00M	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Defined benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-100.00K	USD	1 Quarter
Total Other Comprehensive (Loss) Income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$700.00K	USD	1 Quarter
Total Other Comprehensive (Loss) Income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-14.90M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-19.60M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-11.20M	USD	1 Quarter

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