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SEC Filings

10-Q
NN INC filed this Form 10-Q on 08/14/2017
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Table of Contents

NN, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

 

(in thousands, except per share data)

   June 30,
2017
    December 31,
2016
 

Assets

    

Current assets:

    

Cash

   $ 19,166     $ 14,405  

Accounts receivable, net

     162,363       139,547  

Inventories

     123,702       114,851  

Income tax receivable

     8,631       —    

Other current assets

     13,766       11,752  
  

 

 

   

 

 

 

Total current assets

     327,628       280,555  

Property, plant and equipment, net

     333,160       322,953  

Goodwill, net

     452,282       450,311  

Intangible assets, net

     244,264       255,981  

Investment in joint venture

     39,853       36,008  

Other non-current assets

     8,629       9,892  
  

 

 

   

 

 

 

Total assets

   $ 1,405,816     $ 1,355,700  
  

 

 

   

 

 

 

Liabilities and Stockholders’ Equity

    

Current liabilities:

    

Accounts payable

   $ 78,308     $ 75,719  

Accrued salaries, wages and benefits

     23,941       24,996  

Income taxes payable

     —         2,125  

Current maturities of long-term debt

     24,748       12,751  

Current portion of obligation under capital lease

     3,523       3,762  

Other current liabilities

     16,543       19,263  
  

 

 

   

 

 

 

Total current liabilities

     147,063       138,616  

Deferred tax liabilities

     99,333       99,591  

Long-term debt, net of current portion

     827,390       785,713  

Accrued post-employment benefits

     5,879       5,765  

Obligation under capital lease, net of current portion

     4,691       5,851  

Other non-current liabilities

     9,647       9,651  
  

 

 

   

 

 

 

Total liabilities

     1,094,003       1,045,187  
  

 

 

   

 

 

 

Commitments and contingencies (Note 10)

    

Stockholders’ equity:

    

Common stock - $0.01 par value, authorized 45,000 shares, issued and outstanding 27,537 in 2017 and 27,249 in 2016

     275       272  

Additional paid-in capital

     288,903       284,508  

Retained earnings

     38,167       55,509  

Accumulated other comprehensive income (loss)

     (15,564     (29,808

Non-controlling interest

     32       32  
  

 

 

   

 

 

 

Total stockholders’ equity

     311,813       310,513  
  

 

 

   

 

 

 

Total liabilities and stockholders’ equity

   $ 1,405,816     $ 1,355,700  
  

 

 

   

 

 

 

The accompanying notes are an integral part of the Condensed Consolidated Financial Statements.

 

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