Company Quick10K Filing
Stericycle
Price49.12 EPS-2
Shares91 P/E-27
MCap4,475 P/FCF22
Net Debt2,713 EBIT-164
TEV7,188 TEV/EBIT-44
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-08-06
10-Q 2020-03-31 Filed 2020-05-07
10-K 2019-12-31 Filed 2020-02-28
10-Q 2019-09-30 Filed 2019-10-31
10-Q 2019-06-30 Filed 2019-08-01
10-Q 2019-03-31 Filed 2019-05-02
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-11-01
10-Q 2018-06-30 Filed 2018-08-02
10-Q 2018-03-31 Filed 2018-05-03
10-K 2017-12-31 Filed 2018-02-26
10-Q 2017-09-30 Filed 2017-11-08
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-15
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-03-31 Filed 2016-05-09
10-K 2015-12-31 Filed 2016-03-15
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-05
10-Q 2015-03-31 Filed 2015-05-07
10-K 2014-12-31 Filed 2015-03-02
10-Q 2014-09-30 Filed 2014-11-07
10-Q 2014-06-30 Filed 2014-08-07
10-Q 2014-03-31 Filed 2014-05-08
10-K 2013-12-31 Filed 2014-02-28
10-Q 2013-09-30 Filed 2013-11-07
10-Q 2013-06-30 Filed 2013-08-08
10-Q 2013-03-31 Filed 2013-05-09
10-K 2012-12-31 Filed 2013-02-28
10-Q 2012-09-30 Filed 2012-11-08
10-Q 2012-06-30 Filed 2012-08-08
10-Q 2012-03-31 Filed 2012-05-09
10-K 2011-12-31 Filed 2012-02-28
10-Q 2011-09-30 Filed 2011-11-09
10-Q 2011-06-30 Filed 2011-08-09
10-Q 2011-03-31 Filed 2011-05-10
10-K 2010-12-31 Filed 2011-02-28
10-Q 2010-09-30 Filed 2010-11-05
10-Q 2010-06-30 Filed 2010-08-09
10-Q 2010-03-31 Filed 2010-05-07
10-K 2009-12-31 Filed 2010-02-26
8-K 2020-08-06 Earnings, Exhibits
8-K 2020-06-19
8-K 2020-06-05
8-K 2020-05-22
8-K 2020-05-07
8-K 2020-04-06
8-K 2020-03-26
8-K 2020-02-27
8-K 2020-02-25
8-K 2020-02-06
8-K 2020-01-06
8-K 2019-10-31
8-K 2019-09-26
8-K 2019-08-01
8-K 2019-06-14
8-K 2019-06-07
8-K 2019-06-04
8-K 2019-05-22
8-K 2019-05-02
8-K 2019-05-02
8-K 2019-03-25
8-K 2019-02-28
8-K 2019-02-28
8-K 2019-01-08
8-K 2018-12-19
8-K 2018-12-19
8-K 2018-11-01
8-K 2018-10-24
8-K 2018-09-28
8-K 2018-08-02
8-K 2018-06-19
8-K 2018-05-23
8-K 2018-05-03
8-K 2018-03-23
8-K 2018-03-14
8-K 2018-02-21

SRCL 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements (Unaudited)
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies
Note 2 - Revenues From Contracts with Customers
Note 3 - Restructuring, Divestitures, and Impairments
Note 4 - Goodwill and Other Intangible Assets
Note 5 - Long - Term Debt
Note 6 - Income Taxes
Note 7 - (Loss) Earnings per Common Share
Note 8 - Segment Reporting
Note 9 - Commitments and Contingencies
Note 10 - Covid - 19 Pandemic
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
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Part II
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Part IV
Item 6. Exhibits
EX-31.1 srcl-ex311_6.htm
EX-31.2 srcl-ex312_8.htm
EX-32 srcl-ex32_7.htm

Stericycle Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
1.00.70.40.2-0.1-0.42012201420172020
Rev, G Profit, Net Income
1.71.00.3-0.4-1.1-1.82012201420172020
Ops, Inv, Fin

srcl-10q_20200630.htm
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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 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 Number 1-37556

 

Stericycle, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

36-3640402

(State or other jurisdiction of incorporation or organization)

(IRS Employer Identification Number)

2355 Waukegan Road

Bannockburn, Illinois 60015

(Address of principal executive offices, including zip code)

(847) 367-5910

(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 $0.01 per share

SRCL

Nasdaq Global Select Market

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 the 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

 

On August 3, 2020, there were 91,482,888 shares of the Registrant’s Common Stock outstanding.

 


 

Table of Contents

 

 

Page No.

PART I. FINANCIAL INFORMATION

 

 

 

 

 

Item 1.  Financial Statements (Unaudited)

 

 

 

 

 

Condensed Consolidated Statements of Loss for the three and six months ended June 30, 2020 and 2019

5

 

 

 

 

Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2020 and 2019

6

 

 

 

 

Condensed Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019

7

 

 

 

 

Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2020 and 2019

8

 

 

 

 

Condensed Consolidated Statements of Changes in Equity for the three and six months ended June 30, 2020 and 2019

9

 

 

 

 

Notes to Condensed Consolidated Financial Statements

11

 

 

 

 

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

28

 

 

 

 

Item 3.  Quantitative and Qualitative Disclosure about Market Risk

48

 

 

 

 

Item 4.  Controls and Procedures

48

 

 

 

PART II. OTHER INFORMATION

 

 

 

 

 

Item 1.  Legal Proceedings

51

 

 

 

 

Item 1A.  Risk Factors

51

 

 

 

 

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

53

 

 

 

 

Item 6.  Exhibits

54

 

 

 

 

SIGNATURES

55

 

 

2020 Q2 10-Q Report

Stericycle, Inc.  •  2

 


 

Glossary of Defined Terms

Unless the context requires otherwise, the “Company,” “Stericycle,” "we," "us" or "our" refers to Stericycle, Inc. on a consolidated basis. The Company also uses several other terms in this Quarterly Report on Form 10-Q, most of which are explained or defined below:

 

2020 Q2 10-Q Report

Stericycle, Inc.  •  3

 


 

Abbreviation

Description

2019 Form 10-K

Annual report on Form 10-K for the year ended December 31, 2019

Adjusted Income from Operations

Income from Operations adjusted for certain items discussed in Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

ASC 740

Accounting Standards Codification Topic 740 "Income Taxes"

ASEA

Security, Energy and Environmental Agency

ASU

Accounting Standards Update

Buyer

Harsco Corporation and CEI Holding LLC, a Delaware limited liability company and subsidiary of Harsco Corporation

CARES Act

U.S. Coronavirus Aid, Relief, and Economic Security Act enacted into law on March 27, 2020

Clean Air Act

The Clean Air Act of 1970

Consolidated Leverage Ratio

Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) (i) Consolidated Funded Indebtedness as of such date minus (ii) Unrestricted Cash as of such date to (b) Consolidated EBITDA for the period of four fiscal quarters most recently ended on or prior to such date, as defined in the Fifth Amendment.

COR

Cost of revenues

COSO Framework

Internal Control Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission

COVID-19

The global novel coronavirus disease 2019 outbreak, which the World Health Organization declared as to be a pandemic

Credit Agreement

Credit Agreement dated November 17, 2017 by and among the Company and certain of its subsidiaries named therein, Bank of America, N.A., as administrative agent, and the other financial institutions party thereto

CRS

Communication and Related Services

DAQ

Division of Air Quality

DEA

U.S. Drug Enforcement Agency

Disposal Group

The divestiture of Domestic Environmental Solutions

DOJ

U.S. Department of Justice

Domestic Environmental Solutions

Hazardous Waste Solutions and Manufacturing and Industrial Services

DSO

Days Sales Outstanding, defined as the average number of days that it takes a company to collect payment after a sale has been made computed as the last three and twelve months of Revenues for the quarter and period ended DSO, respectively, divided by the Accounts Receivable balance.

DTSC

Department of Toxic Substances Control

EBITDA

Earnings before interest, tax, depreciation and amortization

EPA

U.S. Environmental Protection Agency

ERP

Enterprise Resource Planning

Exchange Act

U.S. Securities Exchange Act of 1934

Expert Solutions

Recall and Return Services

FASB

Financial Accounting Standards Board

FCPA

U.S. Foreign Corrupt Practices Act

Fifth Amendment

Fifth Amendment to the Credit Agreement, dated as of February 25, 2020

HSA

Healthcare Service Agreement with Buyer

International

Operating segment including Europe, Middle East, Asia Pacific and Latin America Business operations outside of North America

IRS

U.S. Internal Revenue Service

North America

Operating segment in North America, including Puerto Rico

NOV

Notice of Violation

Other

Represents corporate enabling and shared services functions

PFA

Pre-filing agreement

Purchase Agreement

Stock Purchase Agreement, dated as of February 6, 2020, by and between Stericycle, Inc., and the Buyer

PSU

Performance-based restricted stock unit

ROU

Right-of-use

RSU

Restricted stock unit

RWCS

Regulated Waste and Compliance Services

SEC

U.S. Securities and Exchanges Commission

Senior Credit Facility

The Company's $1.2 billion senior credit facility due in 2022 granted under the terms of the Credit Agreement

Senior Notes

5.375% Senior Notes due July 2024

SG&A

Selling, general and administrative expenses

SID

Secure Information Destruction Services

SOP

Sorted office paper

SQ Settlement

Small quantity medical waste customers class action settlement of $295.0 million

Term Facility

Aggregate amount of commitments made by any lender under the terms of the Credit Agreement

Term Loans

Advances made by any lender under the Term Facility

TAS

Telephone answering services

TSA

Transition Services Agreement with Buyer

U.K.

United Kingdom

U.S.

United States of America

U.S. GAAP

U.S. Generally Accepted Accounting Principles

 

2020 Q2 10-Q Report

Stericycle, Inc.  •  4

 


 

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited)

STERICYCLE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF LOSS

(Unaudited)

 

In millions, except per share data

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

 

2020

 

 

2019

 

Revenues

$

598.2

 

 

$

845.8

 

 

$

1,383.2

 

 

$

1,675.9

 

Cost of revenues

 

368.5

 

 

 

543.2

 

 

 

866.9

 

 

 

1,076.2

 

Gross profit

 

229.7

 

 

 

302.6

 

 

 

516.3

 

 

 

599.7

 

Selling, general and administrative expenses

 

201.0

 

 

 

277.0

 

 

 

459.7

 

 

 

562.8

 

Divestiture losses (gains), net

 

3.8

 

 

 

0.3

 

 

 

62.1

 

 

 

(5.1

)

Goodwill impairment

 

-

 

 

 

-

 

 

 

-

 

 

 

20.9

 

Income (loss) from operations

 

24.9

 

 

 

25.3

 

 

 

(5.5

)

 

 

21.1

 

Interest expense, net

 

(19.3

)

 

 

(33.6

)

 

 

(44.3

)

 

 

(61.2

)

Loss on early extinguishment of debt

 

-

 

 

 

(23.1

)

 

 

-

 

 

 

(23.1

)

Other expense, net

 

(1.0

)

 

 

(1.8

)

 

 

(3.9

)

 

 

(4.0

)

Income (loss) before income taxes

 

4.6

 

 

 

(33.2

)

 

 

(53.7

)

 

 

(67.2

)

Income tax (expense) benefit

 

(8.7

)

 

 

3.0

 

 

 

29.7

 

 

 

(0.6

)

Net loss

 

(4.1

)

 

 

(30.2

)

 

 

(24.0

)

 

 

(67.8

)

Net income attributable to noncontrolling interests

 

(0.4

)

 

 

(0.3

)

 

 

(0.6

)

 

 

(0.5

)

Net loss attributable to Stericycle, Inc. common shareholders

 

(4.5

)

 

 

(30.5

)

 

 

(24.6

)

 

 

(68.3

)

Loss per common share attributable to Stericycle, Inc. common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

(0.05

)

 

$

(0.33

)

 

$

(0.27

)

 

$

(0.75

)

Diluted

$

(0.05

)

 

$

(0.33

)

 

$

(0.27

)

 

$

(0.75

)

Weighted average number of common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

91.4

 

 

 

91.0

 

 

 

91.4

 

 

 

90.9

 

Diluted

 

91.4

 

 

 

91.0

 

 

 

91.4

 

 

 

90.9

 

See accompanying Notes to Condensed Consolidated Financial Statements.

 

2020 Q2 10-Q Report

Stericycle, Inc.  •  5

 


 

STERICYCLE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF

COMPREHENSIVE INCOME (LOSS)

(Unaudited)

 

In millions

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net loss

$

(4.1

)

 

$

(30.2

)

 

$

(24.0

)

 

$

(67.8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss):

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Currency translation adjustments

 

10.3

 

 

 

(2.4

)

 

 

(28.8

)

 

 

6.1

 

Amortization of cash flow hedge into income, net of tax expense ($0.1 and $0.2) for the three and six months ended June 30, 2019, respectively

 

-

 

 

 

0.2

 

 

 

-

 

 

 

0.4

 

Change in fair value of cash flow hedge, net of tax expense ($0.1 for both the three and six months ended June 30, 2019)

 

-

 

 

 

0.2

 

 

 

-

 

 

 

0.2

 

Reclassification of cash flow hedge, net of tax expense ($1.1 for both the three and six months ended June 30, 2019)

 

-

 

 

 

2.3

 

 

 

-

 

 

 

2.3

 

Total other comprehensive income (loss)

 

10.3

 

 

 

0.3

 

 

 

(28.8

)

 

 

9.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss)

 

6.2

 

 

 

(29.9

)

 

 

(52.8

)

 

 

(58.8

)

Less: comprehensive income attributable to noncontrolling interests

 

0.4

 

 

 

0.3

 

 

 

0.7

 

 

 

0.8

 

Comprehensive income (loss) attributable to Stericycle, Inc. common shareholders

$

5.8

 

 

$

(30.2

)

 

$

(53.5

)

 

$

(59.6

)

 

See accompanying Notes to Condensed Consolidated Financial Statements.

 

2020 Q2 10-Q Report

Stericycle, Inc.  •  6

 


 

STERICYCLE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

In millions, except per share data

 

 

June 30, 2020

 

 

December 31, 2019

 

ASSETS

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

 

Cash and cash equivalents

$

42.0

 

 

$

34.7

 

Accounts receivable, less allowance for doubtful accounts of $59.8 in 2020 and $67.9 in 2019

 

376.1

 

 

 

544.3

 

Prepaid expenses

 

120.0

 

 

 

60.7

 

Other current assets

 

54.5

 

 

 

66.9

 

Total Current Assets

 

592.6

 

 

 

706.6

 

Property, plant and equipment, less accumulated depreciation of $642.2 in 2020 and $667.8 in 2019

 

705.6

 

 

 

798.5

 

Operating lease right-of-use assets

 

376.0

 

 

 

435.0

 

Goodwill

 

2,785.7

 

 

 

2,982.2

 

Intangible assets, less accumulated amortization of $584.0 in 2020 and $584.9 in 2019

 

1,160.7

 

 

 

1,422.4

 

Other assets

 

64.7

 

 

 

92.3

 

Total Assets

$

5,685.3

 

 

$

6,437.0

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

 

 

Current portion of long-term debt

$

114.6

 

 

$

103.1

 

Bank overdrafts

 

-

 

 

 

1.9

 

Accounts payable

 

149.6

 

 

 

220.1

 

Accrued liabilities

 

263.3

 

 

 

296.6

 

Operating lease liabilities

 

83.3

 

 

 

94.8

 

Other current liabilities

 

49.5

 

 

 

40.4

 

Total Current Liabilities

 

660.3

 

 

 

756.9

 

Long-term debt, net

 

1,998.7

 

 

 

2,559.3

 

Long-term operating lease liabilities

 

311.2

 

 

 

356.1

 

Deferred income taxes

 

318.0

 

 

 

295.1

 

Long-term taxes payable

 

45.0

 

 

 

70.7

 

Other liabilities

 

56.0

 

 

 

64.2

 

Total Liabilities

 

3,389.2

 

 

 

4,102.3

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity:

 

 

 

 

 

 

 

Common stock (par value $0.01 per share, 120.0 shares authorized, 91.5 and 91.1 issued and outstanding in 2020 and 2019, respectively)

 

0.9

 

 

 

0.9

 

Additional paid-in capital

 

1,222.4

 

 

 

1,205.7

 

Retained earnings

 

1,415.3

 

 

 

1,442.4

 

Accumulated other comprehensive loss

 

(347.0

)

 

 

(318.1

)

Total Stericycle, Inc.’s Equity

 

2,291.6

 

 

 

2,330.9

 

Noncontrolling interests

 

4.5

 

 

 

3.8

 

Total Equity

 

2,296.1

 

 

 

2,334.7

 

Total Liabilities and Equity

$

5,685.3

 

 

$

6,437.0

 

See accompanying Notes to Condensed Consolidated Financial Statements.

 

2020 Q2 10-Q Report

Stericycle, Inc.  •  7

 


 

STERICYCLE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

In millions

 

 

Six Months Ended June 30,

 

 

2020

 

 

2019

 

OPERATING ACTIVITIES:

 

 

 

 

 

 

 

Net loss

$

(24.0

)

 

$

(67.8

)

Adjustments to reconcile net loss to net cash from operating activities:

 

 

 

 

 

 

 

Depreciation

 

57.0

 

 

 

64.7

 

Intangible amortization

 

63.1

 

 

 

74.7

 

Loss on early extinguishment of debt and related charges

 

-

 

 

 

26.5

 

Stock-based compensation expense

 

12.9

 

 

 

10.0

 

Deferred income taxes

 

(2.7

)

 

 

12.8

 

Goodwill impairment

 

-

 

 

 

20.9

 

Divestiture losses (gains), net

 

62.1

 

 

 

(5.1

)

Asset impairments, loss (gain) on disposal of property plant and equipment and other charges

 

12.3

 

 

 

7.9

 

Other, net

 

4.0

 

 

 

0.9

 

Changes in operating assets and liabilities, net of the effects of acquisitions and divestitures:

 

 

 

 

 

 

 

Accounts receivable

 

42.5

 

 

 

(14.0

)

Prepaid expenses

 

(17.6

)

 

 

(22.4

)

Accounts payable

 

(21.4

)

 

 

3.6

 

Accrued liabilities

 

(1.3

)

 

 

(50.6

)

Other assets and liabilities

 

20.4

 

 

 

8.9

 

Net cash from operating activities

 

207.3

 

 

 

71.0

 

INVESTING ACTIVITIES:

 

 

 

 

 

 

 

Capital expenditures

 

(74.6

)

 

 

(108.2

)

Payments for acquisitions, net of cash acquired

 

-

 

 

 

(0.3

)

Proceeds from divestiture of businesses

 

427.7

 

 

 

13.6

 

Other, net

 

(0.8

)

 

 

1.8

 

Net cash from investing activities

 

352.3

 

 

 

(93.1

)

FINANCING ACTIVITIES:

 

 

 

 

 

 

 

Repayments of long-term debt and other obligations

 

(16.9

)

 

 

(21.1

)

Proceeds from foreign bank debt

 

0.6

 

 

 

9.0

 

Repayments of foreign bank debt

 

(2.9

)

 

 

(4.5

)

Proceeds from term loan

 

-

 

 

 

365.0

 

Repayment of term loan

 

(388.1

)

 

 

(23.8

)

Repayment of private placement of long-term note

 

-

 

 

 

(1,075.0

)

Proceeds from senior notes

 

-

 

 

 

600.0

 

Proceeds from senior credit facility

 

608.1

 

 

 

933.9

 

Repayment of senior credit facility

 

(745.6

)

 

 

(731.5

)

Repayments of bank overdrafts, net

 

(1.6

)

 

 

(12.1

)

Payments of capital lease obligations

 

(2.1

)

 

 

(1.3

)

Payments of debt issuance costs

 

(1.4

)

 

 

(8.8

)

Proceeds from issuance of common stock, net of (payments of) taxes from withheld shares

 

(1.1

)

 

 

13.9

 

Payments on early extinguishment of debt

 

-

 

 

 

(20.4

)

Net cash from financing activities

 

(551.0

)

 

 

23.3

 

Effect of exchange rate changes on cash and cash equivalents

 

(1.3

)

 

 

(1.0

)

Net change in cash and cash equivalents

 

7.3

 

 

 

0.2

 

Cash and cash equivalents at beginning of period

 

34.7

 

 

 

34.3

 

Cash and cash equivalents at end of period

$

42.0

 

 

$

34.5

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL CASH FLOW INFORMATION:

 

 

 

 

 

 

 

Net issuances of obligations for acquisitions

$

-

 

 

$

0.3

 

Capital expenditures in accounts payable

$

9.0

 

 

$

30.6

 

Interest paid during the period, net of capitalized interest

$

45.5

 

 

$

48.8

 

Income taxes paid during the period, net of refunds

$

0.6

 

 

$

6.5

 

 

 

 

 

 

 

 

 

See accompanying Notes to Condensed Consolidated Financial Statements.

 

 

2020 Q2 10-Q Report

Stericycle, Inc.  •  8

 


 

STERICYCLE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(Unaudited)

In millions

 

 

Stericycle, Inc. Equity

 

 

 

 

 

 

 

 

 

 

Common Stock

 

 

Additional Paid-In Capital

 

 

Retained Earnings

 

 

Accumulated Other Comprehensive Loss

 

 

Noncontrolling Interests

 

 

Total Equity

 

 

Shares

 

Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of April 1, 2020

 

91.4

 

$

0.9

 

 

$

1,212.7

 

 

$

1,419.8

 

 

$

(357.2

)

 

$

4.0

 

 

$

2,280.2

 

Net loss

 

-

 

 

-

 

 

 

-

 

 

 

(4.5

)

 

 

 

 

 

 

0.4

 

 

 

(4.1

)

Currency translation adjustment

 

-