|
Condensed Consolidated Statements of Financial Position (Unaudited) |
||||||||||
| (IN THOUSANDS) | March 31, 2019 | December 31, 2018 | ||||||||
| Assets | ||||||||||
| Current assets | ||||||||||
| Cash and cash equivalents | $ | 162,074 | $ | 167,738 | ||||||
| Accounts receivable, less allowance for doubtful accounts of $1,184 and $1,354 | 160,696 | 144,623 | ||||||||
| Contract assets | 27,315 | 22,728 | ||||||||
| Inventories | 133,242 | 132,637 | ||||||||
| Prepaid income taxes | 3,190 | 3,093 | ||||||||
| Asbestos-related insurance receivables, current portion | 4,138 | 4,138 | ||||||||
| Other current assets | 13,255 | 10,829 | ||||||||
| Total current assets | 503,910 | 485,786 | ||||||||
| Property, plant and equipment, net of accumulated depreciation of $323,623 and $317,414 | 244,911 | 242,759 | ||||||||
| Investments in unconsolidated joint ventures | 15,799 | 18,667 | ||||||||
| Deferred income taxes | 11,316 | 8,236 | ||||||||
| Goodwill | 263,251 | 264,885 | ||||||||
| Other intangible assets, net of amortization | 172,234 | 177,008 | ||||||||
| Pension assets | 19,596 | 19,273 | ||||||||
| Asbestos-related insurance receivables, non-current portion | 59,685 | 59,685 | ||||||||
| Other long-term assets | 8,692 | 3,045 | ||||||||
| Total assets | $ | 1,299,394 | $ | 1,279,344 | ||||||
| Liabilities and Shareholders’ Equity | ||||||||||
| Current liabilities | ||||||||||
| Accounts payable | $ | 43,481 | $ | 40,321 | ||||||
| Accrued employee benefits and compensation | 26,984 | 30,491 | ||||||||
| Accrued income taxes payable | 8,720 | 7,032 | ||||||||
| Asbestos-related liabilities, current portion | 5,547 | 5,547 | ||||||||
| Other accrued liabilities | 23,633 | 23,789 | ||||||||
| Total current liabilities | 108,365 | 107,180 | ||||||||
| Borrowings under revolving credit facility | 223,482 | 228,482 | ||||||||
| Pension and other postretirement benefits liabilities | 1,739 | 1,739 | ||||||||
| Asbestos-related liabilities, non-current portion | 64,672 | 64,799 | ||||||||
| Non-current income tax | 7,712 | 8,418 | ||||||||
| Deferred income taxes | 11,151 | 10,806 | ||||||||
| Other long-term liabilities | 13,951 | 9,596 | ||||||||
| Shareholders’ equity | ||||||||||
| Capital stock - $1 par value; 50,000 authorized shares; 18,546 and 18,395 shares issued and outstanding | 18,546 | 18,395 | ||||||||
| Additional paid-in capital | 128,417 | 132,360 | ||||||||
| Retained earnings | 804,782 | 776,403 | ||||||||
| Accumulated other comprehensive loss | (83,423 | ) | (78,834 | ) | ||||||
| Total shareholders' equity | 868,322 | 848,324 | ||||||||
| Total liabilities and shareholders' equity | $ | 1,299,394 | $ | 1,279,344 | ||||||
Rogers Corporation Reports First Quarter 2019 Results
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