CTS Corporation (CTS) financial statements (2021 and earlier)

Company profile

Business Address 4925 INDIANA AVENUE
LISLE, IL 60532
State of Incorp. IN
Fiscal Year End December 31
SIC 3672 - Printed Circuit Boards (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments92100101114114157135
Cash and cash equivalents92100101114114157135
Receivables81788071635557
Inventory, net of allowances, customer advances and progress billings46424337292528
Inventory46424337292528
Deferred tax assets    9
Other current assets15171513111621
Other undisclosed current assets      (9)
Total current assets:233237239234216252240
Noncurrent Assets
Operating lease, right-of-use asset23 
Property, plant and equipment97     71
Intangible assets, net (including goodwill)1891911311381266969
Goodwill1091067171623432
Intangible assets, net (excluding goodwill)79856067643537
Deferred income tax assets24 
Other noncurrent assets3322211
Defined benefit plan, assets for plan benefits463432
Deferred tax assets, net    43
Other undisclosed noncurrent assets578276784659(71)
Total noncurrent assets:393276210218220162145
Other undisclosed assets 1309988827071
TOTAL ASSETS:626643548540518484457
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities102941041029710185
Accounts payable50485249404043
Accrued liabilities38363741465425
Employee-related liabilities1310151211711
Taxes payable      3
Interest and dividends payable      1
Debt 3  1  
Accrued environmental loss contingencies      4
Other undisclosed current liabilities3     (9)
Total current liabilities:105971041029810180
Noncurrent Liabilities
Long-term debt and lease obligation781255076899175
Long-term debt, excluding current maturities551005076899175
Operating lease, liability2325
Liabilities, other than long-term debt20111617131012
Asset retirement obligations 777733
Deferred tax liabilities, net44   
Deferred income tax liabilities7 
Liability, pension and other postretirement and postemployment benefits7      
Other liabilities5466689
Derivative instruments and hedges, liabilities      0
Other undisclosed noncurrent liabilities 6     
Total noncurrent liabilities:97141669310210187
Total liabilities:202238170196200202167
Stockholders' equity
Stockholders' equity attributable to parent424405378344318282290
Common stock311308307305303301300
Treasury stock, value(373)(364)(353)(343)(343)(343)(325)
Additional paid in capital42444341414139
Accumulated other comprehensive loss(96)(92)(98)(79)(93)(99)(104)
Retained earnings539510479420411382380
Total stockholders' equity:424405378344318282290
TOTAL LIABILITIES AND EQUITY:626643548540518484457

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues424469470423397382404
Revenue, net423397382404
Cost of revenue
(Cost of Goods and Services Sold)
(285)(311)(306)(283)(256)(255)(274)
Gross profit:139158165140140127130
Operating expenses(92)(104)(104)(102)(77)(94)(94)
Other undisclosed operating income (loss)(2)    (15)6
Operating income:45546138631842
Nonoperating income (expense)0(4)(3)2(6)(6)(3)
Investment income, nonoperating1221133
Other nonoperating income (expense)3(3)(3)4(4)(6)(3)
Interest and debt expense(3)(3)(2)(3)(4)(3)(2)
Other undisclosed income from continuing operations before equity method investments, income taxes3323432
Income from continuing operations before income taxes:45505840571239
Income tax expense(11)(14)(12)(26)(23)(5)(13)
Net income available to common stockholders, diluted:3536471434727

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:3536471434727
Other comprehensive income   13   
Comprehensive income:3536472834727
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(4)6(1)165(22)
Comprehensive income, net of tax, attributable to parent:3042452940124

Statements sources

The financial statements are based on the company's filings with the 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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