Company Quick10K Filing
Moog
Price-0.00 EPS5
Shares35 P/E-0
MCap-0 P/FCF-0
Net Debt741 EBIT273
TEV741 TEV/EBIT3
TTM 2019-09-28, in MM, except price, ratios
10-Q 2020-03-28 Filed 2020-04-24
10-Q 2019-12-28 Filed 2020-01-24
10-K 2019-09-28 Filed 2019-11-12
10-Q 2019-06-29 Filed 2019-07-26
10-Q 2019-03-30 Filed 2019-04-26
10-Q 2018-12-29 Filed 2019-01-25
10-K 2018-09-29 Filed 2018-11-13
10-Q 2018-06-30 Filed 2018-07-27
10-Q 2018-03-31 Filed 2018-04-27
10-Q 2017-12-30 Filed 2018-01-26
10-K 2017-09-30 Filed 2017-11-14
10-Q 2017-07-01 Filed 2017-07-28
10-Q 2017-04-01 Filed 2017-04-28
10-Q 2016-12-31 Filed 2017-01-31
10-K 2016-10-01 Filed 2016-11-14
10-Q 2016-07-02 Filed 2016-08-01
10-Q 2016-04-02 Filed 2016-05-02
10-Q 2016-01-02 Filed 2016-02-01
10-K 2015-10-03 Filed 2015-11-16
10-Q 2015-07-04 Filed 2015-08-04
10-Q 2015-04-04 Filed 2015-05-04
10-Q 2015-01-03 Filed 2015-02-03
10-K 2014-09-27 Filed 2014-11-10
10-Q 2014-06-28 Filed 2014-07-30
10-Q 2014-03-29 Filed 2014-04-30
10-Q 2013-12-28 Filed 2014-01-29
10-K 2013-09-28 Filed 2013-11-12
10-Q 2013-06-29 Filed 2013-07-31
10-Q 2013-03-30 Filed 2013-05-02
10-Q 2012-12-29 Filed 2013-02-01
10-K 2012-09-29 Filed 2012-11-20
10-Q 2012-06-30 Filed 2012-08-03
10-Q 2012-03-31 Filed 2012-05-08
10-Q 2011-12-31 Filed 2012-02-07
10-K 2011-10-01 Filed 2011-11-30
10-Q 2011-07-02 Filed 2011-08-09
10-Q 2011-04-02 Filed 2011-05-10
10-Q 2011-01-01 Filed 2011-02-09
10-K 2010-10-02 Filed 2010-12-01
10-Q 2010-07-03 Filed 2010-08-10
10-Q 2010-04-03 Filed 2010-05-11
10-Q 2010-01-02 Filed 2010-02-09
8-K 2020-07-24 Earnings, Other Events, Exhibits
8-K 2020-04-24
8-K 2020-02-11
8-K 2020-01-24
8-K 2020-01-13
8-K 2019-12-13
8-K 2019-12-13
8-K 2019-12-06
8-K 2019-12-05
8-K 2019-12-05
8-K 2019-11-25
8-K 2019-11-13
8-K 2019-11-11
8-K 2019-11-11
8-K 2019-11-01
8-K 2019-10-15
8-K 2019-07-26
8-K 2019-05-03
8-K 2019-04-26
8-K 2019-03-04
8-K 2019-02-12
8-K 2019-01-25
8-K 2018-11-02
8-K 2018-07-27
8-K 2018-05-08
8-K 2018-04-27
8-K 2018-03-15
8-K 2018-02-14
8-K 2018-01-26

MOG 10Q Quarterly Report

Part I Financial Information
Item 1. Financial Statements
Note 1 - Basis of Presentation
Note 2 - Revenue From Contracts with Customers
Note 3 - Acquisitions and Divestitures
Note 4 - Receivables
Note 5 - Inventories
Note 6 - Property, Plant and Equipment
Note 7 - Leases
Note 8 - Goodwill and Intangible Assets
Note 9 - Indebtedness
Note 10 - Other Accrued Liabilities
Note 11 - Derivative Financial Instruments
Note 12 - Fair Value
Note 13 - Employee Benefit Plans
Note 14 - Restructuring
Note 15 - Income Taxes
Note 16 - Accumulated Other Comprehensive Income (Loss)
Note 17 - Stock Employee Compensation Trust and Supplemental Retirement Plan Trust
Note 18 - Earnings per Share and Dividends
Note 19 - Segment Information
Note 20 - Related Party Transactions
Note 21 - Commitments and Contingencies
Note 22 - Subsequent Event
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 1A. Risk Factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 6. Exhibits.
EX-31.1 exhibit311apr2420wconf.htm
EX-31.2 exhibit312apr2420wconf.htm
EX-32.1 exhibit321apr2420wconf.htm

Moog Earnings 2020-03-28

Balance SheetIncome StatementCash Flow
3.32.62.01.30.70.02012201420172020
Assets, Equity
0.80.60.50.30.20.02012201420172020
Rev, G Profit, Net Income
0.20.10.0-0.0-0.1-0.22012201420172020
Ops, Inv, Fin

Document
false--10-03Q22020000006788771776000681260000.250.500.502020-06-27425148876170425148876170425148826170425148826170sixtytwelve51280000512800005128000051280000 0000067887 2019-09-29 2020-03-28 0000067887 us-gaap:CommonClassBMember 2019-09-29 2020-03-28 0000067887 us-gaap:CommonClassAMember 2019-09-29 2020-03-28 0000067887 us-gaap:CommonClassBMember 2020-04-20 0000067887 us-gaap:CommonClassAMember 2020-04-20 0000067887 2018-12-30 2019-03-30 0000067887 2019-12-29 2020-03-28 0000067887 2018-09-30 2019-03-30 0000067887 2020-03-28 0000067887 2019-09-28 0000067887 us-gaap:CommonClassAMember 2020-03-28 0000067887 mog:SupplementalRetirementPlanTrustMember 2019-09-28 0000067887 us-gaap:CommonClassBMember 2019-09-28 0000067887 us-gaap:CommonClassBMember 2020-03-28 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2020-03-28 0000067887 mog:SupplementalRetirementPlanTrustMember 2020-03-28 0000067887 us-gaap:CommonClassAMember 2019-09-28 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2019-09-28 0000067887 2019-03-30 0000067887 us-gaap:RetainedEarningsMember 2020-03-28 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2018-12-29 0000067887 us-gaap:AdditionalPaidInCapitalMember 2019-09-29 2020-03-28 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2019-12-29 2020-03-28 0000067887 mog:SupplementalRetirementPlanTrustMember 2018-09-30 2019-03-30 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2018-12-30 2019-03-30 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-30 0000067887 us-gaap:AdditionalPaidInCapitalMember 2019-12-29 2020-03-28 0000067887 us-gaap:TreasuryStockMember 2018-09-30 2019-03-30 0000067887 us-gaap:AdditionalPaidInCapitalMember 2019-12-28 0000067887 us-gaap:AdditionalPaidInCapitalMember 2018-12-30 2019-03-30 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-29 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-30 2019-03-30 0000067887 us-gaap:CommonStockMember 2019-03-30 0000067887 us-gaap:AdditionalPaidInCapitalMember 2019-09-28 0000067887 mog:SupplementalRetirementPlanTrustMember 2019-12-29 2020-03-28 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-28 0000067887 us-gaap:TreasuryStockMember 2019-09-29 2020-03-28 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2019-03-30 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-29 2020-03-28 0000067887 us-gaap:TreasuryStockMember 2019-12-29 2020-03-28 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-28 0000067887 us-gaap:TreasuryStockMember 2019-12-28 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-28 0000067887 us-gaap:TreasuryStockMember 2020-03-28 0000067887 mog:SupplementalRetirementPlanTrustMember 2018-09-29 0000067887 us-gaap:TreasuryStockMember 2018-12-29 0000067887 us-gaap:AccountingStandardsUpdate201409Member us-gaap:RetainedEarningsMember 2018-12-30 2019-03-30 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-30 2019-03-30 0000067887 us-gaap:AccountingStandardsUpdate201409Member us-gaap:RetainedEarningsMember 2019-09-29 2020-03-28 0000067887 us-gaap:RetainedEarningsMember 2019-12-29 2020-03-28 0000067887 us-gaap:AccountingStandardsUpdate201409Member us-gaap:RetainedEarningsMember 2018-09-30 2019-03-30 0000067887 us-gaap:RetainedEarningsMember 2018-12-30 2019-03-30 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2019-09-29 2020-03-28 0000067887 us-gaap:RetainedEarningsMember 2019-09-29 2020-03-28 0000067887 us-gaap:AdditionalPaidInCapitalMember 2018-09-29 0000067887 mog:SupplementalRetirementPlanTrustMember 2018-12-30 2019-03-30 0000067887 us-gaap:RetainedEarningsMember 2019-03-30 0000067887 mog:SupplementalRetirementPlanTrustMember 2019-03-30 0000067887 us-gaap:RetainedEarningsMember 2019-09-28 0000067887 us-gaap:AccountingStandardsUpdate201409Member us-gaap:RetainedEarningsMember 2019-12-29 2020-03-28 0000067887 us-gaap:TreasuryStockMember 2019-03-30 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2018-09-30 2019-03-30 0000067887 mog:SupplementalRetirementPlanTrustMember 2019-09-29 2020-03-28 0000067887 us-gaap:AdditionalPaidInCapitalMember 2020-03-28 0000067887 mog:SupplementalRetirementPlanTrustMember 2019-12-28 0000067887 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 2019-03-30 0000067887 us-gaap:AdditionalPaidInCapitalMember 2018-12-29 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-29 2020-03-28 0000067887 us-gaap:AdditionalPaidInCapitalMember 2019-03-30 0000067887 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-29 0000067887 us-gaap:CommonStockMember 2020-03-28 0000067887 us-gaap:TreasuryStockMember 2019-09-28 0000067887 us-gaap:TreasuryStockMember 2018-12-30 2019-03-30 0000067887 us-gaap:RetainedEarningsMember 2018-12-29 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2018-09-29 0000067887 us-gaap:TreasuryStockMember 2018-09-29 0000067887 us-gaap:RetainedEarningsMember 2019-12-28 0000067887 us-gaap:RetainedEarningsMember 2018-09-30 2019-03-30 0000067887 us-gaap:RetainedEarningsMember 2018-09-29 0000067887 us-gaap:TrustForBenefitOfEmployeesMember 2019-12-28 0000067887 mog:SupplementalRetirementPlanTrustMember 2018-12-29 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-12-29 0000067887 us-gaap:CommonClassAMember 2019-12-28 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2020-03-28 0000067887 us-gaap:CommonClassBMember 2019-03-30 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-03-30 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-09-30 2019-03-30 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2020-03-28 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2020-03-28 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-12-30 2019-03-30 0000067887 us-gaap:CommonClassAMember 2019-03-30 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-12-29 2020-03-28 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-09-29 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2018-12-30 2019-03-30 0000067887 us-gaap:CommonClassBMember mog:SupplementalRetirementPlanTrustMember 2020-03-28 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-12-29 0000067887 us-gaap:CommonClassAMember 2018-09-29 0000067887 us-gaap:CommonClassAMember us-gaap:TrustForBenefitOfEmployeesMember 2020-03-28 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2018-12-30 2019-03-30 0000067887 us-gaap:CommonClassBMember 2018-12-29 0000067887 us-gaap:CommonClassAMember 2018-12-29 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2019-12-29 2020-03-28 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-09-29 2020-03-28 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-12-28 0000067887 us-gaap:CommonClassBMember 2018-09-30 2019-03-30 0000067887 us-gaap:CommonClassBMember mog:SupplementalRetirementPlanTrustMember 2019-03-30 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-09-28 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2019-03-30 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2018-12-29 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-09-30 2019-03-30 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2019-12-28 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2019-09-29 2020-03-28 0000067887 us-gaap:CommonClassBMember 2019-12-28 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-09-29 2020-03-28 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-03-30 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2018-09-30 2019-03-30 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2019-09-28 0000067887 us-gaap:CommonClassBMember 2019-12-29 2020-03-28 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-12-29 2020-03-28 0000067887 us-gaap:CommonClassBMember 2018-12-30 2019-03-30 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2018-09-29 0000067887 us-gaap:CommonClassAMember us-gaap:TrustForBenefitOfEmployeesMember 2019-03-30 0000067887 us-gaap:CommonClassBMember 2018-09-29 0000067887 us-gaap:CommonClassAMember us-gaap:TreasuryStockMember 2018-09-29 0000067887 us-gaap:CommonClassAMember 2018-09-30 2019-03-30 0000067887 us-gaap:CommonClassAMember 2018-12-30 2019-03-30 0000067887 us-gaap:CommonClassAMember 2019-12-29 2020-03-28 0000067887 us-gaap:CommonClassBMember us-gaap:TrustForBenefitOfEmployeesMember 2019-12-28 0000067887 us-gaap:CommonClassBMember us-gaap:TreasuryStockMember 2019-09-28 0000067887 us-gaap:CommonStockMember 2018-12-29 0000067887 us-gaap:CommonClassBMember mog:SupplementalRetirementPlanTrustMember 2019-12-28 0000067887 us-gaap:CommonStockMember 2019-09-28 0000067887 us-gaap:CommonClassAMember us-gaap:TrustForBenefitOfEmployeesMember 2019-12-28 0000067887 us-gaap:CommonClassBMember mog:SupplementalRetirementPlanTrustMember 2019-09-28 0000067887 us-gaap:CommonClassBMember mog:SupplementalRetirementPlanTrustMember 2018-09-29 0000067887 us-gaap:CommonClassBMember mog:SupplementalRetirementPlanTrustMember 2018-12-29 0000067887 us-gaap:CommonClassAMember us-gaap:TrustForBenefitOfEmployeesMember 2018-12-29 0000067887 us-gaap:CommonStockMember 2018-09-29 0000067887 us-gaap:CommonClassAMember us-gaap:TrustForBenefitOfEmployeesMember 2019-09-28 0000067887 us-gaap:CommonClassAMember us-gaap:TrustForBenefitOfEmployeesMember 2018-09-29 0000067887 us-gaap:CommonStockMember 2019-12-28 0000067887 2018-09-29 0000067887 srt:RestatementAdjustmentMember 2019-03-30 0000067887 srt:ScenarioPreviouslyReportedMember 2019-03-30 0000067887 us-gaap:PreviousAccountingGuidanceMember 2019-09-29 2020-03-28 0000067887 srt:RestatementAdjustmentMember 2019-09-29 2020-03-28 0000067887 us-gaap:PreviousAccountingGuidanceMember 2019-12-29 2020-03-28 0000067887 srt:RestatementAdjustmentMember 2019-12-29 2020-03-28 0000067887 srt:RestatementAdjustmentMember 2020-03-28 0000067887 us-gaap:PreviousAccountingGuidanceMember 2020-03-28 0000067887 srt:ScenarioPreviouslyReportedMember 2019-09-28 0000067887 srt:RestatementAdjustmentMember 2019-09-28 0000067887 srt:ScenarioPreviouslyReportedMember 2018-12-30 2019-03-30 0000067887 srt:RestatementAdjustmentMember 2018-09-30 2019-03-30 0000067887 srt:RestatementAdjustmentMember 2018-12-30 2019-03-30 0000067887 srt:ScenarioPreviouslyReportedMember 2018-09-30 2019-03-30 0000067887 us-gaap:PreviousAccountingGuidanceMember 2018-12-30 2019-03-30 0000067887 us-gaap:PreviousAccountingGuidanceMember 2018-09-30 2019-03-30 0000067887 us-gaap:AccountingStandardsUpdate201602Member 2019-09-29 0000067887 us-gaap:TransferredAtPointInTimeMember 2019-09-29 2020-03-28 0000067887 us-gaap:TransferredOverTimeMember 2019-09-29 2020-03-28 0000067887 us-gaap:TransferredAtPointInTimeMember 2019-12-29 2020-03-28 0000067887 srt:MaximumMember 2019-09-29 2020-03-28 0000067887 2020-03-28 2020-03-28 0000067887 us-gaap:TransferredOverTimeMember 2019-12-29 2020-03-28 0000067887 srt:MinimumMember 2019-09-29 2020-03-28 0000067887 mog:IndustrialSystemsMember 2018-09-30 2018-12-29 0000067887 mog:GATInc.Member mog:IndustrialSystemsMember 2019-11-28 2019-11-28 0000067887 us-gaap:OtherExpenseMember mog:IndustrialSystemsMember 2018-09-30 2018-12-29 0000067887 us-gaap:OtherExpenseMember mog:IndustrialSystemsMember 2019-09-29 2019-12-28 0000067887 mog:IndustrialSystemsMember 2019-09-29 2019-12-28 0000067887 2018-09-30 2019-09-28 0000067887 mog:SpaceAndDefenseControlsMember 2019-09-29 2020-03-28 0000067887 mog:AircraftControlsMember 2019-09-29 2020-03-28 0000067887 mog:IndustrialSystemsMember 2020-03-28 0000067887 mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 mog:IndustrialSystemsMember 2019-09-28 0000067887 mog:AircraftControlsMember 2020-03-28 0000067887 mog:SpaceAndDefenseControlsMember 2020-03-28 0000067887 mog:AircraftControlsMember 2019-09-28 0000067887 mog:SpaceAndDefenseControlsMember 2019-09-28 0000067887 us-gaap:CustomerRelatedIntangibleAssetsMember 2020-03-28 0000067887 us-gaap:CustomerContractsMember 2020-03-28 0000067887 us-gaap:CustomerContractsMember 2019-09-28 0000067887 us-gaap:MarketingRelatedIntangibleAssetsMember 2019-09-29 2020-03-28 0000067887 us-gaap:MarketingRelatedIntangibleAssetsMember 2019-09-28 0000067887 us-gaap:CustomerRelatedIntangibleAssetsMember 2019-09-28 0000067887 us-gaap:OtherIntangibleAssetsMember 2019-09-28 0000067887 us-gaap:TechnologyBasedIntangibleAssetsMember 2020-03-28 0000067887 us-gaap:TechnologyBasedIntangibleAssetsMember 2019-09-29 2020-03-28 0000067887 us-gaap:MarketingRelatedIntangibleAssetsMember 2020-03-28 0000067887 us-gaap:CustomerRelatedIntangibleAssetsMember 2019-09-29 2020-03-28 0000067887 us-gaap:TechnologyBasedIntangibleAssetsMember 2019-09-28 0000067887 us-gaap:OtherIntangibleAssetsMember 2020-03-28 0000067887 us-gaap:OtherIntangibleAssetsMember 2019-09-29 2020-03-28 0000067887 us-gaap:CustomerContractsMember 2019-09-29 2020-03-28 0000067887 mog:Seniornotes4.25Member us-gaap:SeniorNotesMember 2019-12-13 0000067887 us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2020-03-28 0000067887 mog:Seniornotes5.25Member us-gaap:SeniorNotesMember 2020-01-13 0000067887 us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2019-10-16 2019-10-16 0000067887 mog:Seniornotes5.25Member us-gaap:SeniorNotesMember 2020-01-13 2020-01-13 0000067887 us-gaap:RevolvingCreditFacilityMember us-gaap:LineOfCreditMember 2019-10-15 0000067887 mog:SECTRevolvingCreditFacilityMember us-gaap:LineOfCreditMember 2019-09-03 0000067887 us-gaap:RevolvingCreditFacilityMember us-gaap:LineOfCreditMember 2019-10-15 2019-10-15 0000067887 mog:Seniornotes4.25Member us-gaap:SeniorNotesMember 2019-09-29 2020-03-28 0000067887 us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2019-10-16 0000067887 mog:Seniornotes4.25Member 2020-03-28 0000067887 mog:Seniornotes5.25Member 2020-03-28 0000067887 us-gaap:RevolvingCreditFacilityMember 2019-09-28 0000067887 mog:Seniornotes4.25Member 2019-09-28 0000067887 mog:SECTRevolvingCreditFacilityMember 2020-03-28 0000067887 mog:Seniornotes5.25Member 2019-09-28 0000067887 mog:SECTRevolvingCreditFacilityMember 2019-09-28 0000067887 us-gaap:RevolvingCreditFacilityMember 2020-03-28 0000067887 2019-12-28 0000067887 2018-12-29 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherCurrentLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-28 0000067887 us-gaap:OtherCurrentLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-28 0000067887 us-gaap:OtherCurrentAssetsMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2020-03-28 0000067887 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-28 0000067887 us-gaap:LiabilitiesTotalMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-09-28 0000067887 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2019-09-28 0000067887 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-28 0000067887 us-gaap:LiabilitiesTotalMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-28 0000067887 us-gaap:AssetsTotalMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2020-03-28 0000067887 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-28 0000067887 us-gaap:AssetsTotalMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-28 0000067887 us-gaap:OtherAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-28 0000067887 us-gaap:OtherCurrentAssetsMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-09-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:OtherOperatingIncomeExpenseMember 2019-12-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:OtherOperatingIncomeExpenseMember 2018-12-30 2019-03-30 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:OtherOperatingIncomeExpenseMember 2019-09-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:OtherOperatingIncomeExpenseMember 2018-09-30 2019-03-30 0000067887 us-gaap:OtherCurrentLiabilitiesMember us-gaap:FairValueInputsLevel2Member 2020-03-28 0000067887 us-gaap:AssetsTotalMember us-gaap:FairValueInputsLevel2Member 2020-03-28 0000067887 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:FairValueInputsLevel2Member 2019-09-28 0000067887 us-gaap:AssetsTotalMember us-gaap:FairValueInputsLevel2Member 2019-09-28 0000067887 us-gaap:OtherCurrentLiabilitiesMember us-gaap:FairValueInputsLevel2Member 2019-09-28 0000067887 us-gaap:LiabilitiesTotalMember us-gaap:FairValueInputsLevel2Member 2019-09-28 0000067887 us-gaap:OtherCurrentAssetsMember us-gaap:FairValueInputsLevel2Member 2019-09-28 0000067887 us-gaap:LiabilitiesTotalMember us-gaap:FairValueInputsLevel2Member 2020-03-28 0000067887 us-gaap:OtherCurrentAssetsMember us-gaap:FairValueInputsLevel2Member 2020-03-28 0000067887 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel2Member 2019-09-28 0000067887 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:FairValueInputsLevel2Member 2020-03-28 0000067887 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel2Member 2020-03-28 0000067887 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2019-12-29 2020-03-28 0000067887 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2019-09-29 2020-03-28 0000067887 country:US us-gaap:PensionPlansDefinedBenefitMember 2018-12-30 2019-03-30 0000067887 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2018-12-30 2019-03-30 0000067887 country:US us-gaap:PensionPlansDefinedBenefitMember 2019-09-29 2020-03-28 0000067887 country:US us-gaap:PensionPlansDefinedBenefitMember 2019-12-29 2020-03-28 0000067887 us-gaap:ForeignPlanMember us-gaap:PensionPlansDefinedBenefitMember 2018-09-30 2019-03-30 0000067887 country:US us-gaap:PensionPlansDefinedBenefitMember 2018-09-30 2019-03-30 0000067887 us-gaap:PensionPlansDefinedBenefitMember 2019-12-29 2020-03-28 0000067887 us-gaap:ForeignPlanMember 2019-12-29 2020-03-28 0000067887 us-gaap:PensionPlansDefinedBenefitMember 2019-09-29 2020-03-28 0000067887 country:US 2019-09-29 2020-03-28 0000067887 us-gaap:ForeignPlanMember 2018-12-30 2019-03-30 0000067887 us-gaap:ForeignPlanMember 2018-09-30 2019-03-30 0000067887 country:US 2018-12-30 2019-03-30 0000067887 country:US 2018-09-30 2019-03-30 0000067887 us-gaap:ForeignPlanMember 2019-09-29 2020-03-28 0000067887 country:US 2019-12-29 2020-03-28 0000067887 us-gaap:PensionPlansDefinedBenefitMember 2018-09-30 2019-03-30 0000067887 us-gaap:PensionPlansDefinedBenefitMember 2018-12-30 2019-03-30 0000067887 mog:A2018PlanMember 2020-03-28 0000067887 mog:A2018PlanMember mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 mog:A2018PlanMember mog:SpaceAndDefenseControlsMember 2019-09-29 2020-03-28 0000067887 mog:A2018PlanMember 2019-09-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:CostOfSalesMember 2019-09-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:CostOfSalesMember 2018-12-30 2019-03-30 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:SalesMember 2018-09-30 2019-03-30 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:SalesMember 2019-09-29 2020-03-28 0000067887 us-gaap:InterestRateSwapMember us-gaap:InterestExpenseMember 2019-12-29 2020-03-28 0000067887 us-gaap:InterestRateSwapMember us-gaap:InterestExpenseMember 2018-09-30 2019-03-30 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:CostOfSalesMember 2018-09-30 2019-03-30 0000067887 us-gaap:InterestRateSwapMember us-gaap:InterestExpenseMember 2018-12-30 2019-03-30 0000067887 us-gaap:InterestRateSwapMember us-gaap:InterestExpenseMember 2019-09-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:SalesMember 2019-12-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:CostOfSalesMember 2019-12-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember us-gaap:SalesMember 2018-12-30 2019-03-30 0000067887 us-gaap:AccumulatedTranslationAdjustmentMember 2019-09-29 2020-03-28 0000067887 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-09-28 0000067887 us-gaap:AccumulatedTranslationAdjustmentMember 2019-09-28 0000067887 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-09-29 2020-03-28 0000067887 us-gaap:AccumulatedTranslationAdjustmentMember 2020-03-28 0000067887 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-09-28 0000067887 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2019-09-29 2020-03-28 0000067887 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2020-03-28 0000067887 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2020-03-28 0000067887 us-gaap:InterestRateSwapMember 2019-09-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember 2019-09-29 2020-03-28 0000067887 us-gaap:ForeignExchangeContractMember 2019-12-29 2020-03-28 0000067887 us-gaap:InterestRateSwapMember 2018-12-30 2019-03-30 0000067887 us-gaap:ForeignExchangeContractMember 2018-12-30 2019-03-30 0000067887 us-gaap:ForeignExchangeContractMember 2018-09-30 2019-03-30 0000067887 us-gaap:InterestRateSwapMember 2019-12-29 2020-03-28 0000067887 us-gaap:InterestRateSwapMember 2018-09-30 2019-03-30 0000067887 mog:U.S.GovernmentCustomerMember mog:SpaceAndDefenseControlsMember 2019-09-29 2020-03-28 0000067887 mog:CommercialCustomerMember mog:IndustrialSystemsMember 2018-12-30 2019-03-30 0000067887 us-gaap:OtherCustomerMember mog:AircraftControlsMember 2018-09-30 2019-03-30 0000067887 mog:U.S.GovernmentCustomerMember mog:AircraftControlsMember 2019-12-29 2020-03-28 0000067887 mog:CommercialCustomerMember mog:AircraftControlsMember 2018-12-30 2019-03-30 0000067887 us-gaap:OtherCustomerMember mog:SpaceAndDefenseControlsMember 2018-09-30 2019-03-30 0000067887 us-gaap:OtherCustomerMember 2019-12-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:SpaceAndDefenseControlsMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember mog:AircraftControlsMember 2019-12-29 2020-03-28 0000067887 mog:AircraftControlsMember 2019-12-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:IndustrialSystemsMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember mog:SpaceAndDefenseControlsMember 2018-12-30 2019-03-30 0000067887 mog:AircraftControlsMember 2018-12-30 2019-03-30 0000067887 us-gaap:OtherCustomerMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember mog:AircraftControlsMember 2019-09-29 2020-03-28 0000067887 mog:IndustrialSystemsMember 2018-09-30 2019-03-30 0000067887 mog:SpaceAndDefenseControlsMember 2019-12-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember mog:SpaceAndDefenseControlsMember 2018-09-30 2019-03-30 0000067887 us-gaap:OtherCustomerMember mog:IndustrialSystemsMember 2018-09-30 2019-03-30 0000067887 mog:IndustrialSystemsMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember mog:SpaceAndDefenseControlsMember 2018-09-30 2019-03-30 0000067887 mog:SpaceAndDefenseControlsMember 2018-09-30 2019-03-30 0000067887 mog:SpaceAndDefenseControlsMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember mog:AircraftControlsMember 2018-09-30 2019-03-30 0000067887 mog:CommercialCustomerMember mog:SpaceAndDefenseControlsMember 2019-12-29 2020-03-28 0000067887 mog:AircraftControlsMember 2018-09-30 2019-03-30 0000067887 mog:U.S.GovernmentCustomerMember 2019-12-29 2020-03-28 0000067887 mog:CommercialCustomerMember mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:AircraftControlsMember 2019-12-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember mog:AircraftControlsMember 2018-09-30 2019-03-30 0000067887 mog:U.S.GovernmentCustomerMember mog:AircraftControlsMember 2019-09-29 2020-03-28 0000067887 mog:IndustrialSystemsMember 2019-12-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember mog:IndustrialSystemsMember 2018-09-30 2019-03-30 0000067887 mog:U.S.GovernmentCustomerMember mog:IndustrialSystemsMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember 2019-09-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:SpaceAndDefenseControlsMember 2019-09-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember 2019-09-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember 2019-12-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember mog:SpaceAndDefenseControlsMember 2018-12-30 2019-03-30 0000067887 mog:U.S.GovernmentCustomerMember 2018-09-30 2019-03-30 0000067887 us-gaap:OtherCustomerMember 2018-09-30 2019-03-30 0000067887 mog:CommercialCustomerMember mog:SpaceAndDefenseControlsMember 2019-09-29 2020-03-28 0000067887 mog:CommercialCustomerMember mog:IndustrialSystemsMember 2019-12-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember 2019-09-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember mog:IndustrialSystemsMember 2019-12-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:AircraftControlsMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember 2018-09-30 2019-03-30 0000067887 mog:U.S.GovernmentCustomerMember mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:IndustrialSystemsMember 2019-12-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:AircraftControlsMember 2019-09-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember mog:SpaceAndDefenseControlsMember 2019-12-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:SpaceAndDefenseControlsMember 2019-12-29 2020-03-28 0000067887 us-gaap:OtherCustomerMember mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 mog:U.S.GovernmentCustomerMember mog:AircraftControlsMember 2018-12-30 2019-03-30 0000067887 mog:CommercialCustomerMember mog:IndustrialSystemsMember 2018-09-30 2019-03-30 0000067887 mog:EnergyMember mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 mog:EnergyMember mog:IndustrialSystemsMember 2018-09-30 2019-03-30 0000067887 mog:MilitaryMember mog:AircraftControlsMember 2018-09-30 2019-03-30 0000067887 mog:CommercialMember mog:AircraftControlsMember 2018-12-30 2019-03-30 0000067887 mog:MedicalMember mog:IndustrialSystemsMember 2018-12-30 2019-03-30 0000067887 mog:SimulationandTestMember mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 mog:SimulationandTestMember mog:IndustrialSystemsMember 2018-12-30 2019-03-30 0000067887 mog:EnergyMember mog:IndustrialSystemsMember 2018-12-30 2019-03-30 0000067887 mog:MilitaryMember mog:AircraftControlsMember 2018-12-30 2019-03-30 0000067887 mog:DefenseMember mog:SpaceAndDefenseControlsMember 2019-12-29 2020-03-28 0000067887 mog:SpaceMember mog:SpaceAndDefenseControlsMember 2019-09-29 2020-03-28 0000067887 mog:MedicalMember mog:IndustrialSystemsMember 2018-09-30 2019-03-30 0000067887 mog:MilitaryMember mog:AircraftControlsMember 2019-12-29 2020-03-28 0000067887 mog:DefenseMember mog:SpaceAndDefenseControlsMember 2018-09-30 2019-03-30 0000067887 mog:MedicalMember mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 mog:CommercialMember mog:AircraftControlsMember 2019-09-29 2020-03-28 0000067887 mog:MilitaryMember mog:AircraftControlsMember 2019-09-29 2020-03-28 0000067887 mog:IndustrialAutomationMember mog:IndustrialSystemsMember 2019-12-29 2020-03-28 0000067887 mog:IndustrialAutomationMember mog:IndustrialSystemsMember 2018-12-30 2019-03-30 0000067887 mog:MedicalMember mog:IndustrialSystemsMember 2019-12-29 2020-03-28 0000067887 mog:IndustrialAutomationMember mog:IndustrialSystemsMember 2019-09-29 2020-03-28 0000067887 mog:EnergyMember mog:IndustrialSystemsMember 2019-12-29 2020-03-28 0000067887 mog:CommercialMember mog:AircraftControlsMember 2019-12-29 2020-03-28 0000067887 mog:SpaceMember mog:SpaceAndDefenseControlsMember 2018-12-30 2019-03-30 0000067887 mog:DefenseMember mog:SpaceAndDefenseControlsMember 2018-12-30 2019-03-30 0000067887 mog:DefenseMember mog:SpaceAndDefenseControlsMember 2019-09-29 2020-03-28 0000067887 mog:SimulationandTestMember mog:IndustrialSystemsMember 2018-09-30 2019-03-30 0000067887 mog:SimulationandTestMember mog:IndustrialSystemsMember 2019-12-29 2020-03-28 0000067887 mog:SpaceMember mog:SpaceAndDefenseControlsMember 2018-09-30 2019-03-30 0000067887 mog:IndustrialAutomationMember mog:IndustrialSystemsMember 2018-09-30 2019-03-30 0000067887 mog:SpaceMember mog:SpaceAndDefenseControlsMember 2019-12-29 2020-03-28 0000067887 mog:CommercialMember mog:AircraftControlsMember 2018-09-30 2019-03-30 0000067887 us-gaap:BankingMember 2020-03-28 0000067887 us-gaap:CreditCardIntermediaryReceivablesMember us-gaap:BankingMember 2018-12-30 2019-03-30 0000067887 us-gaap:LeaseAgreementsMember us-gaap:BankingMember 2019-09-29 2020-03-28 0000067887 us-gaap:CreditCardIntermediaryReceivablesMember us-gaap:BankingMember 2019-09-29 2020-03-28 0000067887 us-gaap:CreditCardIntermediaryReceivablesMember us-gaap:BankingMember 2019-12-29 2020-03-28 0000067887 us-gaap:CreditCardIntermediaryReceivablesMember us-gaap:BankingMember 2018-09-30 2019-03-30 0000067887 2017-10-01 2018-09-29 iso4217:USD iso4217:USD xbrli:shares xbrli:pure xbrli:shares



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 28, 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 number 1-05129
MOOG Inc.
(Exact name of registrant as specified in its charter)
New York
 
16-0757636
 
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
 
 
400 Jamison Rd
East Aurora,
New York
14052-0018
 
(Address of Principal Executive Offices)
(Zip Code)
 
(716) 652-2000
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
Class A common stock
MOG.A
New York Stock Exchange
Class B common stock
MOG.B
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 and posted 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, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
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 Act).     Yes       No  

The number of shares outstanding of each class of common stock as of April 20, 2020 was:
Class A common stock, 30,003,471 shares
Class B common stock, 2,580,775 shares







Moog Inc.
QUARTERLY REPORT ON FORM 10-Q
TABLE OF CONTENTS
 
 
 
 
 
 
 
 
PAGE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 






PART I FINANCIAL INFORMATION
Item 1. Financial Statements
moogimage2a13.jpg
Consolidated Condensed Statements of Earnings
(Unaudited)
 
 
Three Months Ended
 
Six Months Ended
(dollars in thousands, except share and per share data)
 
March 28,
2020
 
March 30, 2019 (1)
 
March 28,
2020
 
March 30, 2019 (1)
Net sales
 
$
765,277

 
$
718,811

 
$
1,520,120

 
$
1,398,487

Cost of sales
 
557,223

 
521,410

 
1,100,809

 
1,001,584

Gross profit
 
208,054

 
197,401

 
419,311

 
396,903

Research and development
 
26,688

 
31,344

 
54,896

 
63,220

Selling, general and administrative
 
107,251

 
99,860

 
205,618

 
196,186

Interest
 
10,251

 
9,939

 
20,483

 
19,621

Other
 
2,333

 
2,342

 
9,879

 
7,477

Earnings before income taxes
 
61,531

 
53,916

 
128,435

 
110,399

Income taxes
 
11,786

 
12,857

 
28,663

 
26,571

Net earnings
 
$
49,745

 
$
41,059

 
$
99,772

 
$
83,828

 
 
 
 
 
 
 
 
 
Net earnings per share
 
 
 
 
 
 
 
 
Basic
 
$
1.49

 
$
1.18

 
$
2.94

 
$
2.41

Diluted
 
$
1.48

 
$
1.17

 
$
2.91

 
$
2.38

 
 
 
 
 
 
 
 
 
Dividends declared per share
 
$
0.25

 
$
0.25

 
$
0.50

 
$
0.50

 
 
 
 
 
 
 
 
 
Average common shares outstanding
 
 
 
 
 
 
 
 
Basic
 
33,434,420

 
34,886,541

 
33,972,635

 
34,850,898

Diluted
 
33,685,395

 
35,241,113

 
34,236,399

 
35,183,471

See accompanying Notes to Consolidated Condensed Financial Statements.
(1) As adjusted, see Note 1 - Basis of Presentation.



4



moogimage2a13.jpg
Consolidated Condensed Statements of Comprehensive Income (Loss)
(Unaudited)
 
 
Three Months Ended
 
Six Months Ended
(dollars in thousands)
 
March 28,
2020
 
March 30, 2019 (1)
 
March 28,
2020

March 30, 2019 (1)
Net earnings
 
$
49,745

 
$
41,059

 
$
99,772

 
$
83,828

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
Foreign currency translation adjustment
 
(23,418
)
 
1,106

 
(1,885
)
 
(8,281
)
Retirement liability adjustment
 
6,116

 
5,977

 
10,479

 
12,096

Change in accumulated income (loss) on derivatives
 
(1,163
)
 
(79
)
 
239

 
585

Other comprehensive income (loss), net of tax
 
(18,465
)
 
7,004

 
8,833

 
4,400

Comprehensive income (loss)
 
$
31,280

 
$
48,063

 
$
108,605

 
$
88,228

See accompanying Notes to Consolidated Condensed Financial Statements.
(1) As adjusted, see Note 1 - Basis of Presentation.



5



moogimage2a13.jpg
Consolidated Condensed Balance Sheets
(Unaudited)
(dollars in thousands)
 
March 28,
2020
 
September 28, 2019 (1)
ASSETS
 
 
 
 
Current assets
 
 
 
 
Cash and cash equivalents
 
$
115,984

 
$
89,702

Restricted cash
 
3,281

 
2,846

Receivables
 
1,007,730

 
957,287

Inventories, net
 
589,493

 
534,974

Prepaid expenses and other current assets
 
44,002

 
44,164

Total current assets
 
1,760,490

 
1,628,973

Property, plant and equipment, net
 
617,369

 
586,767

Operating lease right-of-use assets
 
66,193

 

Goodwill
 
810,354

 
784,240

Intangible assets, net
 
96,742

 
79,646

Deferred income taxes
 
19,651

 
19,992

Other assets
 
14,174

 
14,619

Total assets
 
$
3,384,973

 
$
3,114,237

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
Current liabilities
 
 
 
 
Current installments of long-term debt
 
$

 
$
249

Accounts payable
 
244,708

 
257,677

Accrued compensation
 
111,280

 
143,765

Contract advances
 
182,822

 
137,242

Accrued liabilities and other
 
206,800

 
188,725

Total current liabilities
 
745,610

 
727,658

Long-term debt, excluding current installments
 
1,093,966

 
832,984

Long-term pension and retirement obligations
 
161,973

 
160,034

Deferred income taxes
 
50,259

 
40,528

Other long-term liabilities
 
87,487

 
30,552

Total liabilities
 
2,139,295

 
1,791,756

Shareholders’ equity
 
 
 
 
Common stock - Class A
 
43,800

 
43,795

Common stock - Class B
 
7,480

 
7,485

Additional paid-in capital
 
449,720

 
510,546

Retained earnings
 
2,211,462

 
2,128,739

Treasury shares
 
(957,082
)
 
(769,569
)
Stock Employee Compensation Trust
 
(60,386
)
 
(111,492
)
Supplemental Retirement Plan Trust
 
(42,672
)
 
(71,546
)
Accumulated other comprehensive loss
 
(406,644
)
 
(415,477
)
Total shareholders’ equity
 
1,245,678

 
1,322,481

Total liabilities and shareholders’ equity
 
$
3,384,973

 
$
3,114,237

See accompanying Notes to Consolidated Condensed Financial Statements.
(1) As adjusted, see Note 1 - Basis of Presentation.
 
 
 
 

6



moogimage2a13.jpg
Consolidated Condensed Statements of Shareholders' Equity
(Unaudited)
  
 
Three Months Ended
 
Six Months Ended
(dollars in thousands)
 
March 28, 2020 (1)
 
March 30, 2019 (1)
 
March 28, 2020 (1)
 
March 30, 2019 (1)
COMMON STOCK
 
 
 
 
 
 
 
 
Beginning and end of period
 
$
51,280

 
$
51,280

 
$
51,280

 
$
51,280

ADDITIONAL PAID-IN CAPITAL
 
 
 
 
 
 
 
 
Beginning of period
 
518,822

 
491,945

 
510,546

 
502,257

Issuance of treasury shares
 
(722
)
 
(1,390
)
 
3,767

 
1,070

Equity-based compensation expense
 
890

 
1,683

 
3,271

 
3,691

Adjustment to market - SECT, SERP and other
 
(69,270
)
 
18,300

 
(67,864
)
 
3,520

End of period
 
449,720

 
510,538

 
449,720

 
510,538

RETAINED EARNINGS
 
 
 
 
 
 
 
 
Beginning of period
 
2,170,105

 
2,023,114

 
2,128,739

 
1,974,125

Net earnings
 
49,745

 
41,059

 
99,772

 
83,828

Dividends
 
(8,388
)
 
(8,727
)
 
(17,049
)
 
(17,430
)
Adoption of ASC 606
 

 

 

 
14,923

End of period
 
2,211,462

 
2,055,446

 
2,211,462

 
2,055,446

TREASURY SHARES AT COST
 
 
 
 
 
 
 
 
Beginning of period
 
(828,453
)
 
(747,900
)
 
(769,569
)
 
(738,494
)
Class A and B shares issued related to compensation
 
3,921

 
3,833

 
4,448

 
4,968

Class A and B shares purchased
 
(132,550
)
 
(5,778
)
 
(191,961
)
 
(16,319
)
End of period
 
(957,082
)
 
(749,845
)
 
(957,082
)
 
(749,845
)
STOCK EMPLOYEE COMPENSATION TRUST (SECT)
 
 
 
 
 
 
 
 
Beginning of period
 
(115,503
)
 
(102,182
)
 
(111,492
)
 
(118,449
)
Issuance of shares
 
18,325

 
8,918

 
18,325

 
17,679

Purchase of shares
 
(3,769
)
 
(5,424
)
 
(6,209
)
 
(7,354
)
Adjustment to market
 
40,561

 
(10,818
)
 
38,990

 
(1,382
)
End of period
 
(60,386
)
 
(109,506
)
 
(60,386
)
 
(109,506
)
SUPPLEMENTAL RETIREMENT PLAN (SERP) TRUST
 
 
 
 
 
 
 
 
Beginning of period
 
(71,381
)
 
(67,597
)
 
(71,546
)
 
(72,941
)
Adjustment to market
 
28,709

 
(7,482
)
 
28,874

 
(2,138
)
End of period
 
(42,672
)
 
(75,079
)
 
(42,672
)
 
(75,079
)
ACCUMULATED OTHER COMPREHENSIVE LOSS
 
 
 
 
 
 
 
 
Beginning of period
 
(388,179
)
 
(375,396
)
 
(415,477
)
 
(372,792
)
Other comprehensive income (loss)
 
(18,465
)
 
7,004

 
8,833

 
4,400

End of period
 
(406,644
)
 
(368,392
)
 
(406,644
)
 
(368,392
)
TOTAL SHAREHOLDERS’ EQUITY
 
$
1,245,678

 
$
1,314,442

 
$
1,245,678

 
$
1,314,442

See accompanying Notes to Consolidated Condensed Financial Statements.
(1) As adjusted, see Note 1 - Basis of Presentation.

7



moogimage2a13.jpg
Consolidated Condensed Statements of Shareholders’ Equity, Shares
(Unaudited)
  
 
Three Months Ended
 
Six Months Ended
(share data)
 
March 28, 2020
 
March 30, 2019
 
March 28, 2020
 
March 30, 2019
COMMON STOCK - CLASS A
 
 
 
 
 
 
 
 
Beginning of period
 
43,796,335

 
43,785,435

 
43,794,935

 
43,784,489

Conversion of Class B to Class A
 
2,894

 

 
4,294

 
946

End of period
 
43,799,229

 
43,785,435

 
43,799,229

 
43,785,435

COMMON STOCK - CLASS B
 
 
 
 
 
 
 
 
Beginning of period
 
7,483,378

 
7,494,278

 
7,484,778

 
7,495,224

Conversion of Class B to Class A
 
(2,894
)
 

 
(4,294
)
 
(946
)
End of period
 
7,480,484

 
7,494,278

 
7,480,484

 
7,494,278

TREASURY SHARES - CLASS A COMMON STOCK
 
 
 
 
 
 
 
 
Beginning of period
 
(11,767,540
)
 
(10,897,407
)
 
(11,101,512
)
 
(10,872,575
)
Class A shares issued related to compensation
 
14,521

 
48,122

 
17,599

 
71,863

Class A shares purchased
 
(1,617,591
)
 
(33,495
)
 
(2,286,697
)
 
(82,068
)
End of period
 
(13,370,610
)
 
(10,882,780
)
 
(13,370,610
)
 
(10,882,780
)
TREASURY SHARES - CLASS B COMMON STOCK
 
 
 
 
 
 
 
 
Beginning of period
 
(3,260,602
)
 
(3,348,499
)
 
(3,345,489
)
 
(3,323,996
)
Class B shares issued related to compensation
 
44,217

 
39,536

 
138,784

 
98,329

Class B shares purchased
 
(128,492
)
 
(38,287
)
 
(138,172
)
 
(121,583
)
End of period
 
(3,344,877
)
 
(3,347,250
)
 
(3,344,877
)
 
(3,347,250
)
SECT - CLASS A COMMON STOCK
 
 
 
 
 
 
 
 
Beginning and end of period
 
(425,148
)
 
(425,148
)
 
(425,148
)
 
(425,148
)
SECT - CLASS B COMMON STOCK
 
 
 
 
 
 
 
 
Beginning of period
 
(914,896
)
 
(899,864
)
 
(886,300
)
 
(983,772
)
Issuance of shares
 
221,256

 
113,749

 
221,256

 
221,326

Purchase of shares
 
(40,966
)
 
(60,412
)
 
(69,562
)
 
(84,081
)
End of period
 
(734,606
)
 
(846,527
)
 
(734,606
)
 
(846,527
)
SERP - CLASS B COMMON STOCK
 
 
 
 
 
 
 
 
Beginning and end of period
 
(826,170
)
 
(876,170
)
 
(826,170
)
 
(876,170
)
See accompanying Notes to Consolidated Condensed Financial Statements.


8



moogimage2a13.jpg
Consolidated Condensed Statements of Cash Flows
(Unaudited)

 
 
Six Months Ended
(dollars in thousands)
 
March 28,
2020
 
March 30, 2019 (1)
CASH FLOWS FROM OPERATING ACTIVITIES
 
 
 
 
Net earnings
 
$
99,772

 
$
83,828

Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
 
 
 
 
Depreciation
 
36,962

 
36,074

Amortization
 
6,676

 
7,212

Deferred income taxes
 
(1,346
)
 
2,182

Equity-based compensation expense
 
3,271

 
3,691

Other
 
5,674

 
1,331

Changes in assets and liabilities providing (using) cash:
 
 
 
 
Receivables
 
(43,910
)
 
(16,621
)
Inventories
 
(49,467
)
 
(44,428
)
Accounts payable
 
(14,891
)
 
10,208

Contract advances
 
46,468

 
17,127

Accrued expenses
 
(9,920
)
 
(6,075
)
Accrued income taxes
 
(12,338
)
 
(1,767
)
Net pension and post retirement liabilities
 
15,785

 
15,639

Other assets and liabilities
 
(2,032
)
 
447

Net cash provided by operating activities
 
80,704

 
108,848

CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
 
Acquisitions of businesses, net of cash acquired
 
(54,265
)
 

Purchase of property, plant and equipment
 
(53,463
)
 
(59,971
)
Other investing transactions
 
(3,706
)
 
2,447

Net cash used by investing activities
 
(111,434
)
 
(57,524
)
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
 
Net short-term repayments
 

 
(3,560
)
Proceeds from revolving lines of credit
 
829,000

 
327,300

Payments on revolving lines of credit
 
(758,500
)
 
(361,300
)
Proceeds from long-term debt
 
4,300

 

Payments on long-term debt
 
(4,300
)
 
(167
)
Proceeds from senior notes, net of issuance costs
 
491,769

 

Payments on senior notes
 
(300,000
)
 

Payments on finance lease obligations
 
(412
)
 

Payment of dividends
 
(17,049
)
 
(17,430
)
Proceeds from sale of treasury stock
 
3,199

 
2,443

Purchase of outstanding shares for treasury
 
(191,961
)
 
(16,319
)
Proceeds from sale of stock held by SECT
 
14,278

 
9,479

Purchase of stock held by SECT
 
(6,209
)
 
(7,354
)
Other financing transactions
 
(5,877
)
 

Net cash provided (used) by financing activities
 
58,238