Element Solutions Inc. (ESI) Financial Statements (2024 and earlier)

Company Profile

Business Address 500 EAST BROWARD BOULEVARD
FORT LAUDERDALE, FL 33394
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 289 - Miscellaneous Chemical Products (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments282,400279,000265,600234,000215,600218,800
Cash and cash equivalents282,400279,000265,600234,000215,600218,800
Receivables452,200461,300455,800467,600527,100540,800
Inventory, net of allowances, customer advances and progress billings332,800322,000290,700309,900337,700323,400
Inventory332,800322,000290,700309,900337,700323,400
Prepaid expense34,10039,60038,50035,20033,70032,700
Other current assets155,000132,300138,100131,900123,700101,200
Total current assets:1,256,5001,234,2001,188,7001,178,6001,237,8001,216,900
Noncurrent Assets
Property, plant and equipment282,500277,600277,200263,400265,700275,000
Intangible assets, net (including goodwill)3,328,1003,206,2003,218,3003,130,3003,292,3003,448,300
Goodwill2,394,9002,425,3002,412,8002,326,2002,425,4002,518,600
Intangible assets, net (excluding goodwill)933,200780,900805,500804,100866,900929,700
Deferred income tax assets48,50056,40051,50050,10058,40071,900
Other noncurrent assets145,400152,100168,000247,300155,500116,700
Total noncurrent assets:3,804,5003,692,3003,715,0003,691,1003,771,9003,911,900
TOTAL ASSETS:5,061,0004,926,5004,903,7004,869,7005,009,7005,128,800
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities366,600331,100332,900342,100381,500386,000
Accounts payable144,100151,200132,200158,400175,600179,500
Accrued liabilities222,500179,900200,700183,700205,900206,500
Debt11,50011,50011,50011,90013,50013,700
Total current liabilities:378,100342,600344,400354,000395,000399,700
Noncurrent Liabilities
Long-term debt and lease obligation, including:2,029,4001,882,1001,883,8001,886,8001,889,9001,892,100
Other undisclosed long-term debt and lease obligation2,029,4001,882,1001,883,8001,886,8001,889,9001,892,100
Liabilities, other than long-term debt333,800330,500326,400324,200309,600323,500
Deferred income tax liabilities115,300120,000121,200122,900131,700137,900
Liability, pension and other postretirement and postemployment benefits35,70036,20036,70029,70031,90034,000
Other liabilities182,800174,300168,500171,600146,000151,600
Total noncurrent liabilities:2,363,2002,212,6002,210,2002,211,0002,199,5002,215,600
Total liabilities:2,741,3002,555,2002,554,6002,565,0002,594,5002,615,300
Equity
Equity, attributable to parent2,303,5002,354,7002,332,5002,288,1002,398,2002,494,900
Common stock2,7002,7002,7002,7002,7002,600
Treasury stock, value(341,800)(341,500)(334,200)(299,700)(244,900)(201,800)
Additional paid in capital4,194,4004,190,7004,185,9004,180,6004,176,4004,172,300
Accumulated other comprehensive loss(361,900)(296,800)(298,100)(378,400)(285,400)(182,300)
Accumulated deficit(1,189,900)(1,200,400)(1,223,800)(1,217,100)(1,250,600)(1,295,900)
Equity, attributable to noncontrolling interest16,20016,60016,60016,60017,00018,600
Total equity:2,319,7002,371,3002,349,1002,304,7002,415,2002,513,500
TOTAL LIABILITIES AND EQUITY:5,061,0004,926,5004,903,7004,869,7005,009,7005,128,800

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues586,100574,400573,800618,500676,900680,200
Cost of revenue
(Cost of Goods and Services Sold)
(357,600)(346,600)(355,800)(396,600)(427,100)(417,200)
Gross profit:228,500227,800218,000221,900249,800263,000
Operating expenses(175,900)(161,400)(157,900)(142,700)(159,300)(167,500)
Operating income (loss):52,60066,40060,10079,20090,50095,500
Nonoperating expense(4,600)(6,500)(21,800)(9,400)(3,000)(19,100)
Gain (loss), foreign currency transaction, before tax9,0004,900(7,900)9002,700(700)
Other nonoperating income (expense)(1,600)300(2,300)2,0007,500(4,300)
Income (loss) from continuing operations before income taxes:48,00059,90038,30069,80087,50076,400
Income tax expense(21,200)(16,900)(25,400)(16,500)(23,900)(20,000)
Income (loss) from continuing operations:26,80043,00012,90053,30063,60056,400
Income before gain (loss) on sale of properties:53,30065,40056,400
Income from discontinued operations 2,900   1,800 
Net income (loss):29,70043,00012,90053,30065,40056,400
Net income (loss) attributable to noncontrolling interest200(100)(200)(100)(200)(300)
Net income (loss) available to common stockholders, diluted:29,90042,90012,70053,20065,20056,100

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):29,70043,00012,90053,30065,40056,400
Other comprehensive income (loss)(65,500)1,300    
Other undisclosed comprehensive income (loss)   80,300(93,200)(103,400)13,400
Comprehensive income (loss):(35,800)44,30093,200(39,900)(38,000)69,800
Comprehensive income (loss), net of tax, attributable to noncontrolling interest600(100)(200)1001001,400
Other undisclosed comprehensive income, net of tax, attributable to parent      
Comprehensive income (loss), net of tax, attributable to parent:(35,200)44,20093,000(39,800)(37,900)71,200

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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