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As Of Filer Filing For·On·As Docs:Size 11/01/19 Mohawk Industries Inc 10-Q 9/28/19 87:11M |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 1.30M 6: EX-95.1 Mine-Safety Disclosure HTML 29K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 30K 3: EX-31.2 Certification -- §302 - SOA'02 HTML 30K 4: EX-32.1 Certification -- §906 - SOA'02 HTML 25K 5: EX-32.2 Certification -- §906 - SOA'02 HTML 25K 22: R1 Cover Page HTML 88K 53: R2 Condensed Consolidated Balance Sheets HTML 131K 80: R3 Condensed Consolidated Balance Sheets HTML 40K (Parenthetical) 32: R4 Condensed Consolidated Statements of Operations HTML 85K 23: R5 Condensed Consolidated Statements of Comprehensive HTML 53K Income (Loss) 55: R6 Condensed Consolidated Statements of Cash Flows HTML 122K 82: R7 General HTML 45K 33: R8 Acquisitions HTML 36K 21: R9 Revenue from Contracts with Customers HTML 178K 84: R10 Restructuring, acquisition and integration-related HTML 86K costs 58: R11 Receivables, net HTML 35K 31: R12 Inventories HTML 32K 42: R13 Goodwill and intangible assets HTML 103K 83: R14 Accounts payable and accrued expenses HTML 36K 57: R15 Accumulated other comprehensive income (Loss) HTML 267K 30: R16 Leases HTML 260K 41: R17 Stock-based compensation HTML 32K 85: R18 Other expense (income), net HTML 44K 56: R19 Income Taxes HTML 29K 15: R20 Stockholders' Equity HTML 267K 44: R21 Earnings per share HTML 60K 71: R22 Segment reporting HTML 74K 62: R23 Commitments and contingencies HTML 39K 14: R24 Debt HTML 101K 43: R25 Subsequent Event HTML 26K 70: R26 General (Policies) HTML 45K 61: R27 Revenue from Contracts with Customers (Tables) HTML 166K 12: R28 Restructuring, acquisition and integration-related HTML 88K costs (Tables) 45: R29 Receivables, net (Tables) HTML 35K 39: R30 Inventories (Tables) HTML 34K 27: R31 Goodwill and intangible assets (Tables) HTML 111K 59: R32 Accounts payable and accrued expenses (Tables) HTML 36K 86: R33 Accumulated other comprehensive income (Loss) HTML 35K (Tables) 40: R34 Leases (Tables) HTML 157K 28: R35 Other expense (Income), Net (Tables) HTML 43K 60: R36 Stockholders' Equity (Tables) HTML 257K 87: R37 Earnings per share (Tables) HTML 60K 38: R38 Segment reporting (Tables) HTML 73K 29: R39 Debt (Tables) HTML 63K 49: R40 General (Details) HTML 42K 18: R41 Acquisitions - Narrative (Details) HTML 83K 64: R42 Revenue from Contracts with Customers - Narrative HTML 35K (Details) 72: R43 Revenue from Contracts with Customers - Summary of HTML 88K Disaggregated Revenue (Details) 50: R44 Restructuring, acquisition and integration-related HTML 40K costs - Restructuring and Related Costs by Type of Cost (Details) 19: R45 Restructuring, acquisition and integration-related HTML 69K costs - Restructuring Reserve (Details) 65: R46 Receivables, net (Details) HTML 38K 73: R47 Inventories (Details) HTML 33K 48: R48 Goodwill and intangible assets - Schedule of HTML 50K goodwill (Details) 20: R49 Goodwill and intangible assets - Schedule of HTML 31K indefinite life assets not subject to amortization (Details) 26: R50 Goodwill and intangible assets - Schedule of HTML 62K intangible assets subject to amortization (Details) 36: R51 Goodwill and intangible assets - Schedule of HTML 27K intangible assets amortization expense (Details) 78: R52 Accounts payable and accrued expenses (Details) HTML 43K 52: R53 Accumulated other comprehensive income (Loss) HTML 38K (Details) 25: R54 Leases (Details) HTML 34K 35: R55 Leases - Components of lease expense (Details) HTML 56K 77: R56 Leases - Supplemental balance sheet information HTML 52K (Details) 51: R57 Leases - Maturities of lease liabilities (Details) HTML 77K 24: R58 Leases - Lease term and discount rate (Details) HTML 35K 37: R59 Leases - Supplemental cash flow information HTML 39K (Details) 75: R60 Stock-based compensation (Details) HTML 41K 68: R61 Other expense (Income), Net (Details) HTML 36K 17: R62 Income Taxes (Details) HTML 37K 47: R63 Stockholders' Equity (Details) HTML 100K 74: R64 Earnings per share (Details) HTML 60K 67: R65 Segment reporting (Details) HTML 56K 16: R66 Commitments and contingencies (Details) HTML 53K 46: R67 Debt - Senior Credit Facility and Term Loan HTML 82K (Details) 76: R68 Debt - Commercial Paper (Details) HTML 43K 66: R69 Debt - Senior Notes (Details) HTML 64K 54: R70 Debt - Fair Value and Carrying Value of Debt HTML 84K Instruments (Details) 81: R71 Subsequent Event (Details) HTML 29K 34: XML IDEA XML File -- Filing Summary XML 154K 79: XML XBRL Instance -- a2019q310qdocument_htm XML 3.58M 63: EXCEL IDEA Workbook of Financial Reports XLSX 93K 8: EX-101.CAL XBRL Calculations -- mhk-20190928_cal XML 279K 9: EX-101.DEF XBRL Definitions -- mhk-20190928_def XML 548K 10: EX-101.LAB XBRL Labels -- mhk-20190928_lab XML 1.59M 11: EX-101.PRE XBRL Presentations -- mhk-20190928_pre XML 933K 7: EX-101.SCH XBRL Schema -- mhk-20190928 XSD 170K 13: JSON XBRL Instance as JSON Data -- MetaLinks 350± 500K 69: ZIP XBRL Zipped Folder -- 0000851968-19-000082-xbrl Zip 276K
Document |
i ☒ | QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i ☐ | TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i Delaware | i 52-1604305 | |||
(State
or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||
i 160
S. Industrial Blvd. | i Calhoun | i Georgia | i 30701 | |
(Address
of principal executive offices) | (Zip Code) |
i Large
accelerated filer | x | Accelerated filer | ¨ | |
Non-accelerated filer | ¨ | Smaller reporting company | i ☐ | |
Emerging
growth company | i ☐ |
Title of Each Class | Trading
Symbol | Name of Each Exchange on Which Registered |
i Common Stock, $.01 par value | i MHK | i New
York Stock Exchange |
i Floating Rate Notes due 2020 | i New York Stock Exchange | |
i Floating
Rate Notes due 2021 | i New York Stock Exchange | |
i 2.000% Senior Notes due 2022 | i New
York Stock Exchange |
Page No | ||
Part I. | ||
Item 1. | ||
Condensed
Consolidated Statements of Operations for the three and nine months ended September 28, 2019 and September 29, 2018 | ||
Condensed Consolidated Statements of Cash Flows for the nine months ended September 28, 2019 and September 29, 2018 | ||
Item 2. | ||
Item 3. | ||
Item 4. | ||
Part II. | ||
Item 1. | ||
Item 1A. | ||
Item 2. | ||
Item 3. | ||
Item 4. | ||
Item 5. | ||
Item 6. |
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | i 111,303 | i 119,050 | |||
Receivables,
net | i 1,787,158 | i 1,606,159 | ||||
Inventories | i 2,337,952 | i 2,287,615 | ||||
Prepaid
expenses | i 425,595 | i 421,553 | ||||
Other
current assets | i 65,772 | i 74,919 | ||||
Total
current assets | i 4,727,780 | i 4,509,296 | ||||
Property,
plant and equipment | i 8,357,331 | i 8,227,074 | ||||
Less: accumulated
depreciation | i 3,756,701 | i 3,527,172 | ||||
Property,
plant and equipment, net | i 4,600,630 | i 4,699,902 | ||||
Right
of use operating lease assets | i 334,083 | — | ||||
Goodwill | i 2,519,214 | i 2,520,966 | ||||
Tradenames | i 689,788 | i 707,380 | ||||
Other
intangible assets subject to amortization, net | i 227,165 | i 254,430 | ||||
Deferred
income taxes and other non-current assets | i 294,102 | i 407,149 | ||||
$ | i 13,392,762 | i 13,099,123 |
LIABILITIES
AND STOCKHOLDERS’ EQUITY | ||||||
Current liabilities: | ||||||
Short-term debt and current portion of long-term debt | $ | i 1,273,158 | i 1,742,373 | |||
Accounts
payable and accrued expenses | i 1,738,859 | i 1,523,866 | ||||
Current
operating lease liabilities | i 102,682 | — | ||||
Total current liabilities | i 3,114,699 | i 3,266,239 | ||||
Deferred
income taxes | i 434,912 | i 413,740 | ||||
Long-term
debt, less current portion | i 1,483,581 | i 1,515,601 | ||||
Non-current
operating lease liabilities | i 238,560 | — | ||||
Other long-term liabilities | i 355,731 | i 463,484 | ||||
Total
liabilities | i 5,627,483 | i 5,659,064 | ||||
Commitments
and contingencies (Note 17) | i | i | ||||
Stockholders’
equity: | ||||||
Preferred stock, $.01 par value; 60 shares authorized; no shares issued | i — | i — | ||||
Common
stock, $.01 par value; 150,000 shares authorized; 79,193 and 79,656 shares issued in 2019 and 2018, respectively | i 792 | i 797 | ||||
Additional
paid-in capital | i 1,864,899 | i 1,852,173 | ||||
Retained
earnings | i 6,991,076 | i 6,588,197 | ||||
Accumulated
other comprehensive loss | ( i 882,287 | ) | ( i 791,608 | ) | ||
i 7,974,480 | i 7,649,559 | |||||
Less:
treasury stock at cost; 7,348 and 7,349 shares in 2019 and 2018, respectively | i 215,712 | i 215,745 | ||||
Total
Mohawk Industries, Inc. stockholders’ equity | i 7,758,768 | i 7,433,814 | ||||
Nonredeemable
noncontrolling interest | i 6,511 | i 6,245 | ||||
Total stockholders’
equity | i 7,765,279 | i 7,440,059 | ||||
$ | i 13,392,762 | i 13,099,123 |
Three
Months Ended | Nine Months Ended | |||||||||||
Net sales | $ | i 2,519,185 | i 2,545,800 | i 7,546,160 | i 7,535,016 | |||||||
Cost
of sales | i 1,827,494 | i 1,825,367 | i 5,492,924 | i 5,343,336 | ||||||||
Gross
profit | i 691,691 | i 720,433 | i 2,053,236 | i 2,191,680 | ||||||||
Selling,
general and administrative expenses | i 451,471 | i 433,189 | i 1,380,826 | i 1,309,730 | ||||||||
Operating
income | i 240,220 | i 287,244 | i 672,410 | i 881,950 | ||||||||
Interest
expense | i 9,316 | i 9,025 | i 30,310 | i 24,416 | ||||||||
Other
expense, net | i 52,713 | i 706 | i 45,929 | i 6,794 | ||||||||
Earnings
before income taxes | i 178,191 | i 277,513 | i 596,171 | i 850,740 | ||||||||
Income
tax expense | i 22,522 | i 49,487 | i 116,273 | i 215,928 | ||||||||
Net
earnings including noncontrolling interests | i 155,669 | i 228,026 | i 479,898 | i 634,812 | ||||||||
Net
income attributable to noncontrolling interests | i 151 | i 1,013 | i 354 | i 2,447 | ||||||||
Net
earnings attributable to Mohawk Industries, Inc. | $ | i 155,518 | i 227,013 | i 479,544 | i 632,365 | |||||||
Basic
earnings per share attributable to Mohawk Industries, Inc. | ||||||||||||
Basic earnings per share attributable to Mohawk Industries, Inc. | $ | i 2.16 | i 3.03 | i 6.63 | i 8.46 | |||||||
Weighted-average
common shares outstanding—basic | i 72,106 | i 74,603 | i 72,302 | i 74,599 | ||||||||
Diluted
earnings per share attributable to Mohawk Industries, Inc. | ||||||||||||
Diluted earnings per share attributable to Mohawk Industries, Inc. | $ | i 2.15 | i 3.02 | i 6.61 | i 8.42 | |||||||
Weighted-average
common shares outstanding—diluted | i 72,392 | i 74,945 | i 72,578 | i 74,977 |
Three
Months Ended | Nine Months Ended | |||||||||||
Net earnings including noncontrolling interests | $ | i 155,669 | i 228,026 | i 479,898 | i 634,812 | |||||||
Other
comprehensive income (loss): | ||||||||||||
Foreign currency translation adjustments | ( i 150,139 | ) | ( i 33,671 | ) | ( i 91,050 | ) | ( i 147,628 | ) | ||||
Pension
prior service cost and actuarial gain (loss), net of tax | i 216 | i 68 | i 283 | i 291 | ||||||||
Other
comprehensive income (loss) | ( i 149,923 | ) | ( i 33,603 | ) | ( i 90,767 | ) | ( i 147,337 | ) | ||||
Comprehensive
income | i 5,746 | i 194,423 | i 389,131 | i 487,475 | ||||||||
Comprehensive
income (loss) attributable to noncontrolling interests | ( i 7 | ) | i 656 | i 266 | i 962 | |||||||
Comprehensive
income attributable to Mohawk Industries, Inc. | $ | i 5,753 | i 193,767 | i 388,865 | i 486,513 |
Nine
Months Ended | ||||||
Cash flows from operating activities: | ||||||
Net earnings | $ | i 479,898 | i 634,812 | |||
Adjustments
to reconcile net earnings to net cash provided by (used in) operating activities: | ||||||
Restructuring | i 45,533 | i 42,791 | ||||
Depreciation
and amortization | i 422,693 | i 382,673 | ||||
Deferred
income taxes | i 9,303 | i 75,694 | ||||
(Gain)
loss on disposal of property, plant and equipment | i 1,571 | ( i 1,253 | ) | |||
Stock-based
compensation expense | i 17,228 | i 26,697 | ||||
Impairment
of net investment in a manufacturer and distributor of ceramic tile in China | i 65,172 | i — | ||||
Changes
in operating assets and liabilities, net of effects of acquisitions: | ||||||
Receivables, net | ( i 203,447 | ) | ( i 180,830 | ) | ||
Inventories | ( i 60,477 | ) | ( i 209,815 | ) | ||
Other
assets and prepaid expenses | ( i 38,942 | ) | ( i 68,122 | ) | ||
Accounts
payable and accrued expenses | i 250,637 | i 190,090 | ||||
Other
liabilities | ( i 11,083 | ) | i 1,748 | |||
Net
cash provided by operating activities | i 978,086 | i 894,485 | ||||
Cash
flows from investing activities: | ||||||
Additions to property, plant and equipment | ( i 405,614 | ) | ( i 642,949 | ) | ||
Acquisitions,
net of cash acquired | ( i 76,847 | ) | ( i 425,304 | ) | ||
Purchases
of short-term investments | ( i 451,000 | ) | ( i 526,096 | ) | ||
Redemption
of short-term investments | i 459,000 | i 566,000 | ||||
Net
cash used in investing activities | ( i 474,461 | ) | ( i 1,028,349 | ) | ||
Cash
flows from financing activities: | ||||||
Payments on Senior Credit Facilities | ( i 465,811 | ) | ( i 600,926 | ) | ||
Proceeds
from Senior Credit Facilities | i 419,957 | i 554,408 | ||||
Payments
on Commercial Paper | ( i 11,919,636 | ) | ( i 12,119,516 | ) | ||
Proceeds
from Commercial Paper | i 11,540,489 | i 11,976,223 | ||||
Proceeds
from Floating Rate Notes | i 331,325 | i 353,648 | ||||
Payments
on Floating Rate Notes | ( i 331,325 | ) | i — | |||
Proceeds
from other debt | i 7,355 | i — | ||||
Debt
issuance costs | ( i 757 | ) | ( i 864 | ) | ||
Purchase
of Mohawk common stock | ( i 76,671 | ) | i — | |||
Change
in outstanding checks in excess of cash | ( i 10,523 | ) | ( i 2,242 | ) | ||
Shares
redeemed for taxes | ( i 4,711 | ) | ( i 9,188 | ) | ||
Proceeds
from stock transactions | i 1 | i 2 | ||||
Net
cash (used in) provided by financing activities | ( i 510,307 | ) | i 151,545 | |||
Effect
of exchange rate changes on cash and cash equivalents | ( i 1,065 | ) | ( i 11,214 | ) | ||
Net
change in cash and cash equivalents | ( i 7,747 | ) | i 6,467 | |||
Cash
and cash equivalents, beginning of period | i 119,050 | i 84,884 | ||||
Cash
and cash equivalents, end of period | $ | i 111,303 | i 91,351 | |||
• | Incremental costs of obtaining a contract is recorded as an expense when incurred in selling, general and administrative expenses if the amortization period is less than i one
year. |
• | Shipping and handling activities performed after control has been transferred is accounted for as a fulfillment cost in cost of sales. |
Global Ceramic segment | Flooring NA segment | Flooring ROW segment | Total | |||||||||
Geographical Markets | ||||||||||||
United
States | $ | i 537,247 | i 963,784 | i 475 | i 1,501,506 | |||||||
Europe | i 168,032 | i 1,901 | i 424,230 | i 594,163 | ||||||||
Russia | i 77,024 | i 15 | i 32,614 | i 109,653 | ||||||||
Other | i 134,119 | i 36,208 | i 143,536 | i 313,863 | ||||||||
$ | i 916,422 | i 1,001,908 | i 600,855 | i 2,519,185 | ||||||||
Product
Categories | ||||||||||||
Ceramic & Stone | $ | i 916,422 | i 13,570 | i — | i 929,992 | |||||||
Carpet
& Resilient | i — | i 816,190 | i 193,941 | i 1,010,131 | ||||||||
Laminate
& Wood | i — | i 172,148 | i 204,241 | i 376,389 | ||||||||
Other
(1) | i — | i — | i 202,673 | i 202,673 | ||||||||
$ | i 916,422 | i 1,001,908 | i 600,855 | i 2,519,185 |
Global Ceramic segment | Flooring NA segment | Flooring ROW segment | Total | |||||||||
Geographical Markets | ||||||||||||
United
States | $ | i 565,616 | i 998,488 | i 421 | i 1,564,525 | |||||||
Europe | i 175,026 | i 1,217 | i 438,585 | i 614,828 | ||||||||
Russia | i 68,113 | i — | i 27,435 | i 95,548 | ||||||||
Other | i 77,018 | i 47,835 | i 146,046 | i 270,899 | ||||||||
$ | i 885,773 | i 1,047,540 | i 612,487 | i 2,545,800 | ||||||||
Product
Categories | ||||||||||||
Ceramic & Stone | $ | i 885,773 | i 16,779 | i — | i 902,552 | |||||||
Carpet
& Resilient | i — | i 851,970 | i 192,001 | i 1,043,971 | ||||||||
Laminate
& Wood | i — | i 178,791 | i 200,499 | i 379,290 | ||||||||
Other
(1) | i — | i — | i 219,987 | i 219,987 | ||||||||
$ | i 885,773 | i 1,047,540 | i 612,487 | i 2,545,800 |
Global Ceramic segment | Flooring NA segment | Flooring ROW segment | Total | |||||||||
Geographical Markets | ||||||||||||
United
States | $ | i 1,633,583 | i 2,793,110 | i 1,252 | i 4,427,945 | |||||||
Europe | i 552,546 | i 5,902 | i 1,369,908 | i 1,928,356 | ||||||||
Russia | i 196,731 | i 66 | i 83,315 | i 280,112 | ||||||||
Other | i 389,945 | i 108,249 | i 411,553 | i 909,747 | ||||||||
$ | i 2,772,805 | i 2,907,327 | i 1,866,028 | i 7,546,160 | ||||||||
Product
Categories | ||||||||||||
Ceramic & Stone | $ | i 2,772,805 | i 41,928 | i — | i 2,814,733 | |||||||
Carpet
& Resilient | i — | i 2,360,014 | i 586,388 | i 2,946,402 | ||||||||
Laminate
& Wood | i — | i 505,385 | i 629,500 | i 1,134,885 | ||||||||
Other
(1) | i — | i — | i 650,140 | i 650,140 | ||||||||
$ | i 2,772,805 | i 2,907,327 | i 1,866,028 | i 7,546,160 |
Global Ceramic segment | Flooring NA segment | Flooring ROW segment | Total | |||||||||
Geographical Markets | ||||||||||||
United
States | $ | i 1,700,338 | i 2,920,604 | i 421 | i 4,621,363 | |||||||
Europe | i 573,932 | i 4,737 | i 1,424,113 | i 2,002,782 | ||||||||
Russia | i 183,244 | i — | i 73,417 | i 256,661 | ||||||||
Other | i 234,104 | i 130,127 | i 289,979 | i 654,210 | ||||||||
$ | i 2,691,618 | i 3,055,468 | i 1,787,930 | i 7,535,016 | ||||||||
Product
Categories | ||||||||||||
Ceramic & Stone | $ | i 2,691,618 | i 52,500 | i — | i 2,744,118 | |||||||
Carpet
& Resilient | i — | i 2,466,695 | i 453,597 | i 2,920,292 | ||||||||
Laminate
& Wood | i — | i 536,273 | i 643,389 | i 1,179,662 | ||||||||
Other
(1) | i — | i — | i 690,944 | i 690,944 | ||||||||
$ | i 2,691,618 | i 3,055,468 | i 1,787,930 | i 7,535,016 |
• | In connection with acquisition activity, the Company typically incurs costs associated with executing the transactions, integrating the acquired operations (which may include expenditures for consulting and the integration
of systems and processes), and restructuring the combined company (which may include charges related to employees, assets and activities that will not continue in the combined company); and |
• | In connection with the Company’s cost-reduction/productivity initiatives, it typically incurs costs and charges associated with site closings and other facility rationalization actions and workforce reductions. |
Three Months Ended | Nine
Months Ended | |||||||||||
Cost of sales | ||||||||||||
Restructuring
costs (1) | $ | i 7,284 | i 10,004 | i 43,197 | i 33,425 | |||||||
Acquisition
integration-related costs | i 180 | i 198 | i 2,736 | i 3,293 | ||||||||
Restructuring
and acquisition integration-related costs | $ | i 7,464 | i 10,202 | i 45,933 | i 36,718 | |||||||
Selling,
general and administrative expenses | ||||||||||||
Restructuring costs (1) | $ | i 491 | i 1,476 | i 2,336 | i 9,366 | |||||||
Acquisition
transaction-related costs | i 413 | i 3,032 | i 1,330 | i 3,095 | ||||||||
Acquisition
integration-related costs | i 1,147 | i 5,180 | i 4,554 | i 8,857 | ||||||||
Restructuring,
acquisition transaction and integration-related costs | $ | i 2,051 | i 9,688 | i 8,220 | i 21,318 |
Lease impairments | Asset
write-downs | Severance | Other restructuring costs | Total | |||||||||||
Balance as of December 31, 2018 | $ | i 397 | i — | i 7,866 | i 250 | i 8,513 | |||||||||
Provision
- Global Ceramic segment | i — | i — | i 4,879 | i — | i 4,879 | ||||||||||
Provision
- Flooring NA segment | i — | i 21,791 | i 1,168 | i 12,087 | i 35,046 | ||||||||||
Provision
- Flooring ROW segment | i — | i 2,515 | i 2,367 | i 726 | i 5,608 | ||||||||||
Cash
payments | ( i 361 | ) | i — | ( i 11,715 | ) | ( i 12,702 | ) | ( i 24,778 | ) | ||||||
Non-cash
items | i — | ( i 24,306 | ) | ( i 130 | ) | ( i 111 | ) | ( i 24,547 | ) | ||||||
Balance
as of September 28, 2019 | $ | i 36 | i — | i 4,435 | i 250 | i 4,721 |
Customers, trade | $ | i 1,763,435 | i 1,562,284 | |||
Income
tax receivable | i 15,781 | i 17,217 | ||||
Other | i 78,399 | i 101,376 | ||||
i 1,857,615 | i 1,680,877 | |||||
Less: allowance
for discounts, claims and doubtful accounts | i 70,457 | i 74,718 | ||||
Receivables,
net | $ | i 1,787,158 | i 1,606,159 |
Finished goods | $ | i 1,637,525 | i 1,582,112 | |||
Work
in process | i 150,089 | i 165,616 | ||||
Raw
materials | i 550,338 | i 539,887 | ||||
Total
inventories | $ | i 2,337,952 | i 2,287,615 |
Global
Ceramic segment | Flooring NA segment | Flooring ROW segment | Total | |||||||||
Balance as of December 31, 2018 | ||||||||||||
Goodwill | $ | i 1,564,987 | i 874,198 | i 1,409,206 | i 3,848,391 | |||||||
Accumulated
impairment losses | ( i 531,930 | ) | ( i 343,054 | ) | ( i 452,441 | ) | ( i 1,327,425 | ) | ||||
i 1,033,057 | i 531,144 | i 956,765 | i 2,520,966 | |||||||||
Goodwill
recognized during the period | ( i 1,758 | ) | i — | i 47,543 | i 45,785 | |||||||
Currency
translation during the period | ( i 2,740 | ) | i — | ( i 44,797 | ) | ( i 47,537 | ) | |||||
Balance
as of September 28, 2019 | ||||||||||||
Goodwill | i 1,560,489 | i 874,198 | i 1,411,952 | i 3,846,639 | ||||||||
Accumulated
impairment losses | ( i 531,930 | ) | ( i 343,054 | ) | ( i 452,441 | ) | ( i 1,327,425 | ) | ||||
$ | i 1,028,559 | i 531,144 | i 959,511 | i 2,519,214 |
Tradenames | |||
Balance as of December 31, 2018 | $ | i 707,380 | |
Intangible
assets acquired during the period | ( i 874 | ) | |
Currency translation during the period | ( i 16,718 | ) | |
Balance
as of September 28, 2019 | $ | i 689,788 |
Gross
carrying amounts: | Customer relationships | Patents | Other | Total | ||||||||
Balance as of December 31, 2018 | $ | i 651,012 | i 254,483 | i 6,535 | i 912,030 | |||||||
Intangible
assets recognized during the period | i 2,092 | i — | i — | i 2,092 | ||||||||
Currency
translation during the period | ( i 20,143 | ) | ( i 11,213 | ) | ( i 173 | ) | ( i 31,529 | ) | ||||
Balance
as of September 28, 2019 | $ | i 632,961 | i 243,270 | i 6,362 | i 882,593 | |||||||
Accumulated
amortization: | Customer relationships | Patents | Other | Total | ||||||||
Balance as of December 31, 2018 | $ | i 406,386 | i 249,988 | i 1,227 | i 657,601 | |||||||
Amortization
during the period | i 19,027 | i 1,606 | ( i 37 | ) | i 20,596 | |||||||
Currency
translation during the period | ( i 11,722 | ) | ( i 11,028 | ) | ( i 19 | ) | ( i 22,769 | ) | ||||
Balance
as of September 28, 2019 | $ | i 413,691 | i 240,566 | i 1,171 | i 655,428 | |||||||
Intangible
assets subject to amortization, net | $ | i 219,270 | i 2,704 | i 5,191 | i 227,165 |
Three
Months Ended | Nine Months Ended | |||||||||||
Amortization expense | $ | i 6,912 | i 8,148 | i 20,596 | i 23,198 |
Outstanding checks in excess of cash | $ | i 4,064 | i 14,624 | |||
Accounts
payable, trade | i 964,098 | i 811,879 | ||||
Accrued
expenses | i 490,094 | i 430,431 | ||||
Product
warranties | i 46,984 | i 47,511 | ||||
Accrued
interest | i 12,293 | i 21,908 | ||||
Accrued
compensation and benefits | i 221,326 | i 197,513 | ||||
Total
accounts payable and accrued expenses | $ | i 1,738,859 | i 1,523,866 |
Foreign
currency translation adjustments | Pensions, net of tax | Total | |||||||
Balance as of December 31, 2018 | $ | ( i 782,102 | ) | ( i 9,506 | ) | ( i 791,608 | ) | ||
Current
period other comprehensive income | ( i 90,962 | ) | i 283 | ( i 90,679 | ) | ||||
Balance
as of September 28, 2019 | $ | ( i 873,064 | ) | ( i 9,223 | ) | ( i 882,287 | ) |
Three Months
Ended September 28, 2019 | Nine Months Ended September 28, 2019 | |||||||||||||||||
Cost of Goods Sold | Selling, General and Administrative | Total | Cost of Goods Sold | Selling,
General and Administrative | Total | |||||||||||||
Operating lease costs | ||||||||||||||||||
Fixed | $ | i 8,068 | i 25,316 | i 33,384 | i 23,925 | i 72,578 | i 96,503 | |||||||||||
Short-term | i 1,092 | i 2,640 | i 3,732 | i 4,083 | i 9,126 | i 13,209 | ||||||||||||
Variable | i 1,475 | i 7,053 | i 8,528 | i 5,846 | i 21,601 | i 27,447 | ||||||||||||
Sub-leases | ( i 114 | ) | ( i 113 | ) | ( i 227 | ) | ( i 239 | ) | ( i 397 | ) | ( i 636 | ) | ||||||
i 10,521 | i 34,896 | i 45,417 | i 33,615 | i 102,908 | i 136,523 | |||||||||||||
Finance
lease costs | ||||||||||||||||||
Amortization of leased assets | i — | i 404 | i 404 | i — | i 1,228 | i 1,228 | ||||||||||||
Interest
on lease liabilities | i — | i 102 | i 102 | i — | i 191 | i 191 | ||||||||||||
i — | i 506 | i 506 | i — | i 1,419 | i 1,419 | |||||||||||||
Net
lease costs | $ | i 10,521 | i 35,402 | i 45,923 | i 33,615 | i 104,327 | i 137,942 |
Classification | |||||
Assets | |||||
Operating
Leases | |||||
Right of use operating lease assets | Right of use operating lease assets | $ | i 334,083 | ||
Finance
Leases | |||||
Property, plant and equipment, gross | Property, plant and equipment | i 14,727 | |||
Accumulated
depreciation | Accumulated depreciation | ( i 2,809 | ) | ||
Property, plant and equipment, net | Property, plant and equipment, net | i 11,918 | |||
Total
lease assets | $ | i 346,001 | |||
Liabilities | |||||
Operating
Leases | |||||
Other current | Current operating lease liabilities | $ | i 102,682 | ||
Non-current | Non-current
operating lease liabilities | i 238,560 | |||
Total operating liabilities | i 341,242 | ||||
Finance
Leases | |||||
Short-term debt | Short-term debt and current portion of long-term debt | i 1,351 | |||
Long-term
debt | Long-term debt, less current portion | i 11,319 | |||
Total finance liabilities | i 12,670 | ||||
Total
lease liabilities | $ | i 353,912 | |||
Year ending December 31, | Finance Leases | Operating Leases | Total | ||||||
2019 (excluding
the nine months ended September 28, 2019) | $ | i 432 | i 31,316 | i 31,748 | |||||
2020 | i 1,647 | i 116,032 | i 117,679 | ||||||
2021 | i 1,258 | i 88,122 | i 89,380 | ||||||
2022 | i 1,022 | i 59,951 | i 60,973 | ||||||
2023 | i 926 | i 32,688 | i 33,614 | ||||||
Thereafter | i 8,987 | i 42,182 | i 51,169 | ||||||
Total
lease payments | i 14,272 | i 370,291 | i 384,563 | ||||||
Less
imputed interest | i 1,602 | i 29,049 | |||||||
Present
value, Total | $ | i 12,670 | i 341,242 |
Weighted Average Remaining Lease Term | ||
Operating Leases | i 4.37 | |
Finance Leases | i 12.32 | |
Weighted
Average Discount Rate | ||
Operating Leases | i 3.3 | % |
Finance Leases | i 2.4 | % |
Nine Months Ended | |||
Cash paid for amounts included in measurement of lease liabilities: | |||
Operating cash flows from operating leases | $ | i 96,752 | |
Operating
cash flows from finance leases | i 123 | ||
Financing cash flows from finance leases | i 1,224 | ||
Right-of-use
assets obtained in exchange for lease obligations: | |||
Operating Leases | i 113,253 | ||
Finance Leases | i 7,636 | ||
Amortization: | |||
Amortization
of Right of use operating lease assets (1) | i 85,061 |
Three
Months Ended | Nine Months Ended | |||||||||||
Foreign currency losses (gains), net | $ | ( i 1,181 | ) | i 2,456 | ( i 203 | ) | i 7,178 | |||||
Release
of indemnification asset | ( i 659 | ) | i — | ( i 659 | ) | i 1,749 | ||||||
Impairment
of net investment in a manufacturer and distributor of Ceramic tile in China(1) | i 65,172 | i — | i 65,172 | i — | ||||||||
All
other, net | ( i 10,619 | ) | ( i 1,750 | ) | ( i 18,381 | ) | ( i 2,133 | ) | ||||
Total
other expense, net | $ | i 52,713 | i 706 | i 45,929 | i 6,794 |
Total
Stockholders’ Equity | ||||||||||||||||||||||||||||
Redeemable Noncontrolling Interest | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income
(Loss) | Treasury Stock | Noncontrolling Interest | Total Stockholders’ Equity | |||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
$ | i — | i 79,712 | $ | i 797 | $ | i 1,859,248 | $ | i 6,903,261 | $ | ( i 732,521 | ) | ( i 7,348 | ) | $ | ( i 215,712 | ) | $ | i 6,518 | $ | i 7,821,591 | ||||||||
Shares
issued under employee and director stock plans | — | — | — | — | — | — | — | — | — | i — | ||||||||||||||||||
Stock-based
compensation expense | — | — | — | i 5,651 | — | — | — | — | — | i 5,651 | ||||||||||||||||||
Repurchases
of common stock | — | ( i 519 | ) | ( i 5 | ) | — | ( i 67,703 | ) | — | — | — | — | ( i 67,708 | ) | ||||||||||||||
Accretion
of redeemable noncontrolling interest | — | — | — | — | — | — | — | — | — | i — | ||||||||||||||||||
Noncontrolling
earnings | — | — | — | — | — | — | — | — | i 150 | i 150 | ||||||||||||||||||
Currency
translation adjustment on non-controlling interests | — | — | — | — | — | — | — | — | ( i 157 | ) | ( i 157 | ) | ||||||||||||||||
Currency
translation adjustment | — | — | — | — | — | ( i 149,982 | ) | — | — | — | ( i 149,982 | ) | ||||||||||||||||
Prior
pension and post-retirement benefit service cost and actuarial gain / loss | — | — | — | — | — | i 216 | — | — | — | i 216 | ||||||||||||||||||
Net
income | — | — | — | — | i 155,518 | — | — | — | — | i 155,518 | ||||||||||||||||||
$ | i — | i 79,193 | $ | i 792 | $ | i 1,864,899 | $ | i 6,991,076 | $ | ( i 882,287 | ) | ( i 7,348 | ) | $ | ( i 215,712 | ) | $ | i 6,511 | $ | i 7,765,279 |
Total
Stockholders’ Equity | ||||||||||||||||||||||||||||
Redeemable Noncontrolling Interest | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income
(Loss) | Treasury Stock | Noncontrolling Interest | Total Stockholders’ Equity | |||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
$ | i 30,043 | i 81,952 | $ | i 820 | $ | i 1,842,060 | $ | i 6,409,552 | $ | ( i 671,133 | ) | ( i 7,350 | ) | $ | ( i 215,745 | ) | $ | i 7,880 | $ | i 7,373,434 | ||||||||
Shares
issued under employee and director stock plans | — | — | — | — | — | — | — | — | — | i — | ||||||||||||||||||
Stock-based
compensation expense | — | — | — | i 5,104 | — | — | — | — | — | i 5,104 | ||||||||||||||||||
Repurchases
of common stock | — | — | — | — | — | — | — | — | — | i — | ||||||||||||||||||
Accretion
of redeemable noncontrolling interest | i 670 | — | — | — | ( i 669 | ) | — | — | — | — | ( i 669 | ) | ||||||||||||||||
Noncontrolling
earnings | i 817 | — | — | — | — | — | — | — | i 195 | i 195 | ||||||||||||||||||
Currency
translation adjustment on non-controlling interests | ( i 303 | ) | — | — | — | — | — | — | — | ( i 54 | ) | ( i 54 | ) | |||||||||||||||
Currency
translation adjustment | — | — | — | — | — | ( i 33,314 | ) | — | — | — | ( i 33,314 | ) | ||||||||||||||||
Prior
pension and post-retirement benefit service cost and actuarial gain / loss | — | — | — | — | — | i 68 | — | — | — | i 68 | ||||||||||||||||||
Net
income | — | — | — | — | i 227,013 | — | — | — | — | i 227,013 | ||||||||||||||||||
$ | i 31,227 | i 81,952 | $ | i 820 | $ | i 1,847,164 | $ | i 6,635,896 | $ | ( i 704,379 | ) | ( i 7,350 | ) | $ | ( i 215,745 | ) | $ | i 8,021 | $ | i 7,571,777 |
Total
Stockholders’ Equity | ||||||||||||||||||||||||||||
Redeemable Noncontrolling Interest | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income
(Loss) | Treasury Stock | Noncontrolling Interest | Total Stockholders’ Equity | |||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
$ | i — | i 79,656 | $ | i 797 | $ | i 1,852,173 | $ | i 6,588,197 | $ | ( i 791,608 | ) | ( i 7,349 | ) | $ | ( i 215,745 | ) | $ | i 6,245 | $ | i 7,440,059 | ||||||||
Shares
issued under employee and director stock plans | — | i 122 | i 1 | ( i 4,502 | ) | — | — | i 1 | i 33 | — | ( i 4,468 | ) | ||||||||||||||||
Stock-based
compensation expense | — | — | — | i 17,228 | — | — | — | — | — | i 17,228 | ||||||||||||||||||
Repurchases
of common stock | — | ( i 585 | ) | ( i 6 | ) | — | ( i 76,665 | ) | — | — | — | — | ( i 76,671 | ) | ||||||||||||||
Accretion
of redeemable noncontrolling interest | — | — | — | — | — | — | — | — | — | i — | ||||||||||||||||||
Noncontrolling
earnings | — | — | — | — | — | — | — | — | i 354 | i 354 | ||||||||||||||||||
Currency
translation adjustment on non-controlling interests | — | — | — | — | — | — | — | — | ( i 88 | ) | ( i 88 | ) | ||||||||||||||||
Currency
translation adjustment | — | — | — | — | — | ( i 90,962 | ) | — | — | — | ( i 90,962 | ) | ||||||||||||||||
Prior
pension and post-retirement benefit service cost and actuarial gain / loss | — | — | — | — | — | i 283 | — | — | — | i 283 | ||||||||||||||||||
Net
income | — | — | — | — | i 479,544 | — | — | — | — | i 479,544 | ||||||||||||||||||
$ | i — | i 79,193 | $ | i 792 | $ | i 1,864,899 | $ | i 6,991,076 | $ | ( i 882,287 | ) | ( i 7,348 | ) | $ | ( i 215,712 | ) | $ | i 6,511 | $ | i 7,765,279 |
Total
Stockholders’ Equity | ||||||||||||||||||||||||||||
Redeemable Noncontrolling Interest | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income
(Loss) | Treasury Stock | Noncontrolling Interest | Total Stockholders’ Equity | |||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
$ | i 29,463 | i 81,771 | $ | i 818 | $ | i 1,828,131 | $ | i 6,004,506 | $ | ( i 558,527 | ) | ( i 7,350 | ) | $ | ( i 215,766 | ) | $ | i 7,847 | $ | i 7,067,009 | ||||||||
Shares
issued under employee and director stock plans | — | i 181 | i 2 | ( i 7,664 | ) | — | — | — | i 21 | — | ( i 7,641 | ) | ||||||||||||||||
Stock-based
compensation expense | — | — | — | i 26,697 | — | — | — | — | — | i 26,697 | ||||||||||||||||||
Repurchases
of common stock | — | — | — | — | — | — | — | — | — | i — | ||||||||||||||||||
Accretion
of redeemable noncontrolling interest | i 975 | — | — | — | ( i 975 | ) | — | — | — | — | ( i 975 | ) | ||||||||||||||||
Noncontrolling
earnings | i 2,043 | — | — | — | — | — | — | — | i 404 | i 404 | ||||||||||||||||||
Currency
translation adjustment on non-controlling interests | ( i 1,254 | ) | — | — | — | — | — | — | — | ( i 230 | ) | ( i 230 | ) | |||||||||||||||
Currency
translation adjustment | — | — | — | — | ( i 146,143 | ) | — | — | — | ( i 146,143 | ) | |||||||||||||||||
Prior
pension and post-retirement benefit service cost and actuarial gain / loss | — | — | — | — | — | i 291 | — | — | — | i 291 | ||||||||||||||||||
Net
income | — | — | — | — | i 632,365 | — | — | — | — | i 632,365 | ||||||||||||||||||
$ | i 31,227 | i 81,952 | $ | i 820 | $ | i 1,847,164 | $ | i 6,635,896 | $ | ( i 704,379 | ) | ( i 7,350 | ) | $ | ( i 215,745 | ) | $ | i 8,021 | $ | i 7,571,777 |
Three
Months Ended | Nine Months Ended | |||||||||||
Net earnings attributable to Mohawk Industries, Inc. | $ | i 155,518 | i 227,013 | i 479,544 | i 632,365 | |||||||
Accretion
of redeemable noncontrolling interest (1) | i — | ( i 670 | ) | i — | ( i 975 | ) | ||||||
Net
earnings available to common stockholders | $ | i 155,518 | i 226,343 | i 479,544 | i 631,390 | |||||||
Weighted-average
common shares outstanding-basic and diluted: | ||||||||||||
Weighted-average common shares outstanding—basic | i 72,106 | i 74,603 | i 72,302 | i 74,599 | ||||||||
Add
weighted-average dilutive potential common shares—options to purchase common shares and RSUs, net | i 286 | i 342 | i 276 | i 378 | ||||||||
Weighted-average
common shares outstanding-diluted | i 72,392 | i 74,945 | i 72,578 | i 74,977 | ||||||||
Earnings
per share attributable to Mohawk Industries, Inc. | ||||||||||||
Basic | $ | i 2.16 | i 3.03 | i 6.63 | i 8.46 | |||||||
Diluted | $ | i 2.15 | i 3.02 | i 6.61 | i 8.42 |
Three
Months Ended | Nine Months Ended | |||||||||||
Net sales: | ||||||||||||
Global Ceramic segment | $ | i 916,422 | i 885,773 | i 2,772,805 | i 2,691,618 | |||||||
Flooring
NA segment | i 1,001,908 | i 1,047,540 | i 2,907,327 | i 3,055,468 | ||||||||
Flooring
ROW segment | i 600,855 | i 612,487 | i 1,866,028 | i 1,787,930 | ||||||||
Intersegment
sales | i — | i — | i — | i — | ||||||||
Total | $ | i 2,519,185 | i 2,545,800 | i 7,546,160 | i 7,535,016 | |||||||
Operating
income (loss): | ||||||||||||
Global Ceramic segment | $ | i 84,410 | i 118,716 | i 286,886 | i 366,893 | |||||||
Flooring
NA segment | i 80,223 | i 93,369 | i 140,374 | i 268,779 | ||||||||
Flooring
ROW segment | i 84,428 | i 84,108 | i 276,392 | i 273,334 | ||||||||
Corporate
and intersegment eliminations | ( i 8,841 | ) | ( i 8,949 | ) | ( i 31,242 | ) | ( i 27,056 | ) | ||||
Total | $ | i 240,220 | i 287,244 | i 672,410 | i 881,950 |
Assets: | ||||||
Global Ceramic segment | $ | i 5,385,279 | i 5,194,030 | |||
Flooring
NA segment | i 4,020,205 | i 3,938,639 | ||||
Flooring
ROW segment | i 3,736,296 | i 3,666,617 | ||||
Corporate
and intersegment eliminations | i 250,982 | i 299,837 | ||||
Total | $ | i 13,392,762 | i 13,099,123 |
Fair Value | Carrying Value | Fair Value | Carrying Value | |||||||||
3.85%
senior notes, payable February 1, 2023; interest payable semiannually | $ | i 626,491 | i 600,000 | i 599,904 | i 600,000 | |||||||
2.00%
senior notes, payable January 14, 2022; interest payable annually | i 569,037 | i 547,046 | i 587,487 | i 572,148 | ||||||||
Floating
Rate Notes, payable May 18, 2020, interest payable quarterly | i 328,002 | i 328,228 | i 343,004 | i 343,289 | ||||||||
Floating
Rate Notes, payable September 11, 2019, interest payable quarterly | i — | i — | i 343,560 | i 343,289 | ||||||||
Floating
rate notes, payable September 04, 2021, interest payable quarterly | i 324,650 | i 328,228 | i — | i — | ||||||||
U.S.
commercial paper | i 409,800 | i 409,800 | i 632,668 | i 632,668 | ||||||||
European
commercial paper | i 522,976 | i 522,976 | i 707,175 | i 707,175 | ||||||||
Five-year
senior secured credit facility, due March 26, 2022 | i 2,500 | i 2,500 | i 57,896 | i 57,896 | ||||||||
Capital
leases and other | i 21,469 | i 21,469 | i 6,664 | i 6,664 | ||||||||
Unamortized
debt issuance costs | ( i 3,508 | ) | ( i 3,508 | ) | ( i 5,155 | ) | ( i 5,155 | ) | ||||
Total
debt | i 2,801,417 | i 2,756,739 | i 3,273,203 | i 3,257,974 | ||||||||
Less
current portion of long-term debt and commercial paper | i 1,273,158 | i 1,273,158 | i 1,742,373 | i 1,742,373 | ||||||||
Long-term
debt, less current portion | $ | i 1,528,259 | i 1,483,581 | i 1,530,830 | i 1,515,601 |
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 |
Item
1. | Legal Proceedings |
Item
1A. | Risk Factors |
Item
2. | Unregistered Sales of Equity Securities and Use of Proceeds |
Period | Total Number of Shares Purchased in Millions | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plan in
Millions | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plan in Millions | ||||||
June 30 through August 3, 2019 | 0.4 | $ | 125.36 | 0.4 | $ | 168.6 | ||||
August
4 through August 31, 2019 | 0.0 | $ | — | 0.0 | $ | 168.6 | ||||
September 1 through September 28, 2019 | 0.2 | $ | 121.65 | 0.2 | $ | 149.2 | ||||
Total | 0.5 | $ | 124.27 | 0.5 |
Item
3. | Defaults Upon Senior Securities |
Item 4. | Mine Safety Disclosures |
Item 5. | Other Information |
Item 6. | Exhibits |
No. | Description | |
4.1 | Third
Supplemental Indenture, dated as of September 4, 2019, by and among Mohawk Capital Finance S.A., as issuer, Mohawk Industries, Inc., as parent guarantor, U.S. Bank National Association, as trustee, registrar and transfer agent and Elavon Financial Services DAC, as paying agent (incorporated herein by reference Exhibit 4.2 to the Company’s Current Report on Form 8-K dated September 4, 2019). | |
4.2 | Note for Floating Rate Notes due 2021 (incorporated
herein by reference Exhibit 4.3 to the Company’s Current Report on Form 8-K dated September 4, 2019). | |
31.1 | ||
31.2 | ||
32.1 | ||
32.2 | ||
95.1 | ||
101.SCH | XBRL
Taxonomy Extension Schema Document. | |
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document. | |
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document. | |
101.LAB | XBRL Taxonomy Extension Label Linkbase Document. | |
101.PRE | XBRL
Taxonomy Extension Presentation Linkbase Document. |
MOHAWK INDUSTRIES, INC. | ||||
(Registrant) | ||||
Dated: | By: | |||
Chairman
and Chief Executive Officer | ||||
(principal executive officer) | ||||
Dated: | By: | /s/
Glenn Landau | ||
Chief Financial Officer | ||||
(principal
financial officer) |
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
10/17/24 | ||||
2/1/23 | ||||
3/26/22 | ||||
1/14/22 | ||||
9/4/21 | ||||
3/26/21 | ||||
5/18/20 | 25-NSE, 8-K | |||
3/26/20 | ||||
1/1/20 | ||||
12/15/19 | ||||
Filed on: | 11/1/19 | 4 | ||
10/30/19 | ||||
10/18/19 | 8-K | |||
10/1/19 | ||||
For Period end: | 9/28/19 | |||
9/17/19 | ||||
9/11/19 | 8-A12B | |||
9/4/19 | 8-K | |||
8/31/19 | ||||
8/3/19 | ||||
6/29/19 | 10-Q | |||
1/31/19 | ||||
1/1/19 | ||||
12/31/18 | 10-K, 11-K, SD | |||
12/20/18 | ||||
11/16/18 | ||||
10/25/18 | 8-K | |||
9/29/18 | 10-Q | |||
9/25/18 | ||||
7/2/18 | ||||
6/30/18 | 10-Q | |||
6/13/18 | ||||
5/18/18 | 8-K | |||
1/1/18 | ||||
9/11/17 | 8-K | |||
6/19/17 | 4 | |||
4/4/17 | ||||
10/26/16 | ||||
5/24/16 | ||||
3/1/16 | 4, 8-K | |||
1/27/16 | ||||
1/14/16 | ||||
7/31/15 | 8-K | |||
6/9/15 | 8-K | |||
3/26/15 | ||||
2/28/14 | 10-K | |||
1/31/13 | 8-K | |||
12/31/10 | 10-K, 11-K | |||
12/31/09 | 10-K, 11-K, 5 | |||
12/31/08 | 10-K, 11-K, 8-K | |||
12/31/07 | 10-K, 11-K | |||
12/31/06 | 10-K, 5, ARS | |||
12/31/05 | ||||
List all Filings |