Company Quick10K Filing
Autoliv
Price77.92 EPS2
Shares87 P/E32
MCap6,810 P/FCF21
Net Debt1,576 EBIT399
TEV8,387 TEV/EBIT21
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-07-17
10-Q 2020-03-31 Filed 2020-04-24
10-K 2019-12-31 Filed 2020-02-21
10-Q 2019-09-30 Filed 2019-10-25
10-Q 2019-06-30 Filed 2019-07-19
10-Q 2019-03-31 Filed 2019-04-26
10-K 2018-12-31 Filed 2019-02-21
10-Q 2018-09-30 Filed 2018-10-26
10-Q 2018-06-30 Filed 2018-07-27
10-Q 2018-03-31 Filed 2018-04-27
10-K 2017-12-31 Filed 2018-02-22
10-Q 2017-09-30 Filed 2017-10-26
10-Q 2017-06-30 Filed 2017-07-21
10-Q 2017-03-31 Filed 2017-04-28
10-K 2016-12-31 Filed 2017-02-23
10-Q 2016-09-30 Filed 2016-10-27
10-Q 2016-06-30 Filed 2016-07-22
10-Q 2016-03-31 Filed 2016-04-29
10-K 2015-12-31 Filed 2016-02-19
10-Q 2015-09-30 Filed 2015-10-23
10-Q 2015-06-30 Filed 2015-07-17
10-Q 2015-03-31 Filed 2015-04-22
10-K 2014-12-31 Filed 2015-02-19
10-Q 2014-09-30 Filed 2014-10-23
10-Q 2014-06-30 Filed 2014-07-18
10-Q 2014-03-31 Filed 2014-04-25
10-K 2013-12-31 Filed 2014-02-21
10-Q 2013-09-30 Filed 2013-10-24
10-Q 2013-06-30 Filed 2013-07-19
10-Q 2013-03-31 Filed 2013-04-26
10-Q 2012-09-30 Filed 2012-10-23
10-Q 2012-06-30 Filed 2012-07-20
10-Q 2012-03-31 Filed 2012-04-27
10-K 2011-12-31 Filed 2012-02-23
10-Q 2011-09-30 Filed 2011-10-26
10-Q 2011-06-30 Filed 2011-07-21
10-Q 2011-03-31 Filed 2011-04-20
10-K 2010-12-31 Filed 2011-02-23
10-Q 2010-09-30 Filed 2010-10-26
10-Q 2010-06-30 Filed 2010-07-23
10-Q 2010-03-31 Filed 2010-04-28
10-K 2009-12-31 Filed 2010-02-19
8-K 2020-08-01 Officers, Exhibits
8-K 2020-07-17 Earnings, Regulation FD, Exhibits
8-K 2020-05-28
8-K 2020-05-07
8-K 2020-04-24
8-K 2020-04-02
8-K 2020-03-18
8-K 2020-02-25
8-K 2020-02-20
8-K 2020-01-28
8-K 2020-01-23
8-K 2019-11-26
8-K 2019-11-19
8-K 2019-11-08
8-K 2019-10-25
8-K 2019-09-18
8-K 2019-08-19
8-K 2019-07-19
8-K 2019-06-27
8-K 2019-05-07
8-K 2019-04-26
8-K 2019-04-12
8-K 2019-04-11
8-K 2019-03-01
8-K 2019-02-22
8-K 2019-01-29
8-K 2019-01-10
8-K 2018-12-06
8-K 2018-11-08
8-K 2018-10-26
8-K 2018-09-19
8-K 2018-08-15
8-K 2018-07-27
8-K 2018-06-27
8-K 2018-06-21
8-K 2018-06-08
8-K 2018-05-30
8-K 2018-05-24
8-K 2018-05-08
8-K 2018-04-27
8-K 2018-04-26
8-K 2018-03-26
8-K 2018-03-02
8-K 2018-02-14
8-K 2018-01-30

ALV 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-10.1 alv-ex101_300.htm
EX-10.2 alv-ex102_81.htm
EX-10.3 alv-ex103_82.htm
EX-10.4 alv-ex104_83.htm
EX-31.1 alv-ex311_8.htm
EX-31.2 alv-ex312_9.htm
EX-32.1 alv-ex321_7.htm
EX-32.2 alv-ex322_6.htm

Autoliv Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
2.92.31.71.10.5-0.12012201420172020
Rev, G Profit, Net Income
1.00.70.40.2-0.1-0.42012201420172020
Ops, Inv, Fin

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

 

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the quarterly period ended June 30, 2020

or

 

Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the transition period from                     to                    

 

Commission File No.: 001-12933

 

AUTOLIV, INC.

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

51-0378542

(State or other jurisdiction of

 

(I.R.S. Employer

incorporation or organization)

 

Identification No.)

 

 

 

Klarabergsviadukten 70, Section B7

 

 

Box 70381,

 

 

Stockholm, Sweden

 

SE-107 24

(Address of principal executive offices)

 

(Zip Code)

+46 8 587 20 600

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock (par value $1.00 per share)

 

ALV

 

New York Stock Exchange

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.    Yes:      No:  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes:      No:  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes:      No:  

 

Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date: As of July 10, 2020, there were 87,331,791 shares of common stock of Autoliv, Inc., par value $1.00 per share, outstanding.  

 

 

 

 

 

 


 

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. (“Autoliv,” the “Company” or “we”) or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements.

In some cases, you can identify these statements by forward-looking words such as “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “may,” “likely,” “might,” “would,” “should,” “could,” or the negative of these terms and other comparable terminology, although not all forward-looking statements contain such words.

Because these forward-looking statements involve risks and uncertainties, the outcome could differ materially from those set out in the forward-looking statements for a variety of reasons, including without limitation: general economic conditions; the impacts of the coronavirus (COVID-19) pandemic on the Company’s financial condition, business operations, operating costs, liquidity and competition; changes in light vehicle production; fluctuation in vehicle production schedules for which the Company is a supplier; changes in general industry and market conditions or regional growth or decline; changes in and the successful execution of our capacity alignment: restructuring and cost reduction and efficiency initiatives and the market reaction thereto; loss of business from increased competition; higher raw material, fuel and energy costs; changes in consumer and customer preferences for end products; customer losses; changes in regulatory conditions; customer bankruptcies, consolidations or restructuring or divestiture of customer brands; unfavorable fluctuations in currencies or interest rates among the various jurisdictions in which we operate; component shortages; market acceptance of our new products; costs or difficulties related to the integration of any new or acquired businesses and technologies; continued uncertainty in pricing negotiations with customers; successful integration of acquisitions and operations of joint ventures; successful implementation of strategic partnerships and collaborations; our ability to be awarded new business; product liability, warranty and recall claims and investigations and other litigation and customer reactions thereto (including the resolution of the Toyota Recall); higher expenses for our pension and other postretirement benefits, including higher funding needs for our pension plans; work stoppages or other labor issues; possible adverse results of pending or future litigation or infringement claims; our ability to protect our intellectual property rights; negative impacts of antitrust investigations or other governmental investigations and associated litigation relating to the conduct of our business; tax assessments by governmental authorities and changes in our effective tax rate; dependence on key personnel; legislative or regulatory changes impacting or limiting our business; political conditions; dependence on and relationships with customers and suppliers; and other risks and uncertainties identified in Item 1A “Risk Factors” of this Quarterly Report on Form 10-Q, Item 1A “Risk Factors” and Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on February 21, 2020.

For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law.

2


 

 

INDEX

 

 

 

 

 

PART I - FINANCIAL INFORMATION

 

4

 

 

 

ITEM 1.  FINANCIAL STATEMENTS

 

4

 

 

 

1.       

Basis of Presentation

 

9

2.       

New Accounting Standards

 

9

3.       

Fair Value Measurements

 

10

4.       

Income Taxes

 

12

5.        

Inventories

 

12

6.       

Restructuring

 

12

7.     

Product-Related Liabilities

 

13

8.     

Retirement Plans

 

13

9.     

Contingent Liabilities

 

14

10.     

Stock Incentive Plan

 

15

11.     

Earnings Per Share

 

15

12.     

Related Party Transactions

 

16

13.

Revenue Disaggregation

 

17

14.     

Subsequent Events

 

17

 

 

 

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

18

 

 

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

30

 

 

 

ITEM 4. CONTROLS AND PROCEDURES

 

30

 

 

 

 

 

 

 

 

 

PART II - OTHER INFORMATION

 

31

 

 

 

ITEM 1. LEGAL PROCEEDINGS

 

31

 

 

 

ITEM 1A. RISK FACTORS

 

31

 

 

 

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

33

 

 

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

33

 

 

 

ITEM 4. MINE SAFETY DISCLOSURES

 

33

 

 

 

ITEM 5. OTHER INFORMATION

 

33

 

 

 

ITEM 6. EXHIBITS

 

34

 

3


 

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(Dollars in millions, except per share data)

 

 

 

Three months ended June 30

 

 

Six months ended June 30

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net sales

 

$

1,047.6

 

 

$

2,154.7

 

 

$

2,893.4

 

 

$

4,328.7

 

Cost of sales

 

 

(1,033.2

)

 

 

(1,755.0

)

 

 

(2,548.0

)

 

 

(3,550.2

)

Gross profit

 

 

14.4

 

 

 

399.7

 

 

 

345.4

 

 

 

778.5

 

Selling, general and administrative expenses

 

 

(98.5

)

 

 

(101.1

)

 

 

(192.0

)

 

 

(202.5

)

Research, development and engineering expenses, net

 

 

(88.0

)

 

 

(117.0

)

 

 

(190.6

)

 

 

(224.4

)

Amortization of intangibles

 

 

(2.4

)

 

 

(2.9

)

 

 

(5.1

)

 

 

(5.7

)

Other income (expense), net

 

 

(59.0

)

 

 

(9.2

)

 

 

(56.9

)

 

 

(3.2

)

Operating (loss) income

 

 

(233.5

)

 

 

169.5

 

 

 

(99.2

)

 

 

342.7

 

Income from equity method investment

 

 

0.0

 

 

 

0.2

 

 

 

0.3

 

 

 

1.2

 

Interest income

 

 

1.4

 

 

 

1.0

 

 

 

2.6

 

 

 

2.0

 

Interest expense

 

 

(15.8

)

 

 

(17.5

)

 

 

(32.1

)

 

 

(35.5

)

Other non-operating items, net

 

 

1.3

 

 

 

(2.4

)

 

 

(6.8

)

 

 

(6.0

)

(Loss) income before income taxes

 

 

(246.6

)

 

 

150.8

 

 

 

(135.2

)

 

 

304.4

 

Income tax benefit (expense)

 

 

72.3

 

 

 

(41.4

)

 

 

35.8

 

 

 

(83.5

)

Net (loss) income

 

 

(174.3

)

 

 

109.4

 

 

 

(99.4

)

 

 

220.9

 

Less: Net income attributable to non-controlling interest

 

 

0.4

 

 

 

0.3

 

 

 

0.5

 

 

 

0.4

 

Net (loss) income attributable to controlling interest

 

$

(174.7

)

 

$

109.1

 

 

$

(99.9

)

 

$

220.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) earnings per share  –  basic 1)

 

$

(2.00

)

 

$

1.25

 

 

$

(1.14

)

 

$

2.53

 

Net (loss) earnings per share  –  diluted 1)

 

$

(2.00

)

 

$

1.25

 

 

$

(1.14

)

 

$

2.52

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding, net of

   treasury shares (in millions)

 

 

87.3

 

 

 

87.2

 

 

 

87.3

 

 

 

87.2

 

Weighted average number of shares outstanding,

   assuming dilution and net of treasury

   shares (in millions)

 

 

87.3

 

 

 

87.3

 

 

 

87.3

 

 

 

87.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividend per share – declared 2)

 

$

0.00

 

 

$

0.62

 

 

$

0.00

 

 

$

1.24

 

Cash dividend per share – paid

 

$

0.00

 

 

$

0.62

 

 

$

0.62

 

 

$

1.24

 

 

1)

Participating share awards with the right to receive dividend equivalents are (under the two-class method) excluded from the earnings per share calculation (see Note 11 to the unaudited condensed consolidated financial statements).

2)

On February 20, the Company declared a dividend of $0.62 per share for the second quarter of 2020. On April 2, 2020, the Company canceled its declared dividend for the second quarter of 2020.

See Notes to the unaudited Condensed Consolidated Financial Statements.

4


 

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

(Dollars in millions)

 

 

 

Three months ended June 30

 

 

Six months ended June 30

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net (loss) income

 

$

(174.3

)

 

$

109.4

 

 

$

(99.4

)

 

$

220.9

 

Other comprehensive income (loss) before tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in cumulative translation adjustments

 

 

26.6

 

 

 

6.1

 

 

 

(75.2

)

 

 

26.9

 

Net change in unrealized components of defined benefit plans

 

 

3.1

 

 

 

0.0

 

 

 

4.0

 

 

 

0.1

 

Other comprehensive income (loss), before tax

 

 

29.7

 

 

 

6.1

 

 

 

(71.2

)

 

 

27.0

 

Tax effect allocated to other comprehensive loss

 

 

(0.9

)

 

 

0.0

 

 

 

(1.2

)

 

 

0.0

 

Other comprehensive income (loss), net of tax

 

 

28.8

 

 

 

6.1

 

 

 

(72.4

)

 

 

27.0

 

Comprehensive (loss) income

 

 

(145.5

)

 

 

115.5

 

 

 

(171.8

)

 

 

247.9

 

Less: Comprehensive income attributable to

   non-controlling interest

 

 

0.4

 

 

 

0.1

 

 

 

0.3

 

 

 

0.5

 

Comprehensive (loss) income attributable to

   controlling interest

 

$

(145.9

)

 

$

115.4

 

 

$

(172.1

)

 

$

247.4

 

 

See Notes to the unaudited Condensed Consolidated Financial Statements.

5


 

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in millions)

 

 

 

As of

 

 

 

June 30, 2020

 

 

December 31, 2019

 

Assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

1,223.2

 

 

$

444.7

 

Receivables, net

 

 

1,179.5

 

 

 

1,626.7

 

Inventories, net

 

 

757.8

 

 

 

740.9

 

Other current assets

 

 

222.4

 

 

 

189.8

 

Total current assets

 

 

3,382.9

 

 

 

3,002.1

 

Property, plant and equipment, net

 

 

1,753.1

 

 

 

1,815.7

 

Investments and other non-current assets

 

 

486.3

 

 

 

386.4

 

Operating lease right-of-use assets

 

 

150.0

 

 

 

156.8

 

Goodwill

 

 

1,385.0

 

 

 

1,387.9

 

Intangible assets, net

 

 

17.2

 

 

 

22.3

 

Total assets

 

$

7,174.5

 

 

$

6,771.2

 

 

 

 

 

 

 

 

 

 

Liabilities and equity

 

 

 

 

 

 

 

 

Short-term debt

 

$

492.9

 

 

$

368.1

 

Accounts payable

 

 

615.7

 

 

 

950.6

 

Accrued expenses

 

 

848.0

 

 

 

824.7

 

Operating lease liabilities - current

 

 

36.7

 

 

 

37.8

 

Other current liabilities

 

 

158.7

 

 

 

229.0

 

Total current liabilities

 

 

2,152.0

 

 

 

2,410.2

 

Long-term debt

 

 

2,567.0

 

 

 

1,726.1

 

Pension liability

 

 

235.7

 

 

 

240.2

 

Operating lease liabilities - non-current

 

 

114.4

 

 

 

119.4

 

Other non-current liabilities

 

 

150.4

 

 

 

152.9

 

Total non-current liabilities

 

 

3,067.5

 

 

 

2,238.6

 

Common stock

 

 

102.8

 

 

 

102.8

 

Additional paid-in capital

 

 

1,329.3

 

 

 

1,329.3

 

Retained earnings

 

 

2,184.2

 

 

 

2,283.5

 

Accumulated other comprehensive loss

 

 

(521.1

)

 

 

(448.9

)

Treasury stock

 

 

(1,153.7

)

 

 

(1,157.5

)

Total controlling interest's equity

 

 

1,941.5

 

 

 

2,109.2

 

Non-controlling interest

 

 

13.5

 

 

 

13.2

 

Total equity

 

 

1,955.0

 

 

 

2,122.4

 

Total liabilities and equity

 

$

7,174.5

 

 

$

6,771.2

 

 

See Notes to the unaudited condensed consolidated financial statements.

 

6


 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in millions)

 

 

 

Six months ended June 30

 

 

 

2020

 

 

2019

 

Operating activities

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(99.4

)

 

$

220.9

 

Adjustments, non-cash items, to reconcile net (loss) income to cash provided by operating

   activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

175.3

 

 

 

176.0

 

Deferred income taxes

 

 

(101.3

)

 

 

(3.8

)

Other non-cash items, net

 

 

(0.3

)

 

 

1.2

 

Increase (decrease) in operating capital:

 

 

 

 

 

 

 

 

EC antitrust payment

 

 

 

 

 

(203.0

)

Net change in operating assets and liabilities

 

 

25.4

 

 

 

(54.2

)

Other, net

 

 

28.1

 

 

 

(4.0

)

Net cash provided by operating activities

 

 

27.8

 

 

 

133.1

 

 

 

 

 

 

 

 

 

 

Investing activities

 

 

 

 

 

 

 

 

Expenditures for property, plant and equipment

 

 

(153.7

)

 

 

(236.8

)

Proceeds from sale of property, plant and equipment

 

 

1.6

 

 

 

1.0

 

Net cash used in investing activities

 

 

(152.1

)

 

 

(235.8

)

 

 

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

 

 

Net decrease in short-term debt

 

 

(142.0

)

 

 

(250.8

)

Increase of long-term debt

 

 

1,720.1

 

 

 

245.2

 

Repayment of long-term debt

 

 

(629.5

)

 

 

 

Dividends paid

 

 

(54.1

)

 

 

(108.5

)

Common stock options exercised

 

 

0.2

 

 

 

0.2

 

Other, net

 

 

0.0

 

 

 

(0.3

)

Net cash provided by (used in) financing activities

 

 

894.7

 

 

 

(114.2

)

Effect of exchange rate changes on cash and cash equivalents

 

 

8.1

 

 

 

7.5

 

Increase (decrease) in cash and cash equivalents

 

 

778.5

 

 

 

(209.4

)

Cash and cash equivalents at beginning of period

 

 

444.7

 

 

 

615.8

 

Cash and cash equivalents at end of period

 

$

1,223.2

 

 

$

406.4

 

 

See Notes to unaudited condensed consolidated financial statements.

7


 

CONSOLIDATED STATEMENTS OF TOTAL EQUITY (UNAUDITED)

(Dollars in millions)

 

 

Common

stock

 

 

Additional

paid-in

capital

 

 

Retained

earnings

 

 

Accumulated

other

comprehensive

loss

 

 

Treasury

stock

 

 

Total

controlling

interest's

equity

 

 

Non-

controlling

interest

 

 

Total

equity

 

Balances at December 31, 2019

$

102.8

 

 

$

1,329.3

 

 

$

2,283.5

 

 

$

(448.9

)

 

$

(1,157.5

)

 

$

2,109.2

 

 

$

13.2

 

 

$

2,122.4

 

Comprehensive Income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 

 

 

 

 

 

 

74.8

 

 

 

 

 

 

 

 

 

 

74.8

 

 

 

0.1

 

 

 

74.9

 

Foreign currency translation

   adjustment

 

 

 

 

 

 

 

 

 

 

 

 

(101.6

)

 

 

 

 

 

 

(101.6

)

 

 

(0.2

)

 

 

(101.8

)

Pension liability

 

 

 

 

 

 

 

 

 

 

 

 

0.6

 

 

 

 

 

 

 

0.6

 

 

 

 

 

 

0.6

 

Total Comprehensive Income (loss)

 

 

 

 

 

 

74.8

 

 

 

(101.0

)

 

 

 

 

 

(26.2

)

 

 

(0.1

)

 

 

(26.3

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.6

 

 

 

1.6

 

 

 

 

 

 

1.6

 

Cash dividends declared

 

 

 

 

 

 

 

 

 

(53.6

)

 

 

 

 

 

 

 

 

 

(53.6

)

 

 

 

 

 

(53.6

)

Balances at March 31, 2020

$

102.8

 

 

$

1,329.3

 

 

$

2,304.7

 

 

$

(549.9

)

 

$

(1,155.9

)

 

$

2,031.0

 

 

$

13.1

 

 

$

2,044.1

 

Comprehensive (Loss) income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

 

 

 

 

 

(174.7

)

 

 

 

 

 

 

 

 

 

(174.7

)