Horizon Global Corporation (HZN) Financial Statements (2024 and earlier)

Company Profile

Business Address 47912 HALYARD DRIVE
PLYMOUTH, MI 48170
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 3714 - Motor Vehicle Parts and Accessories (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

9/30/2022
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 11,78044,97011,77027,65029,57050,240
Cash and cash equivalents 11,78044,97011,77027,65029,57050,240
Restricted cash and investments 5,4905,720    
Receivables 80,72087,42071,680108,34091,77077,570
Inventory, net of allowances, customer advances and progress billings 162,830115,320136,650173,690171,500146,020
Inventory 162,830115,320136,650173,690171,500146,020
Other undisclosed current assets 12,34011,5108,5709,69010,95012,160
Total current assets: 273,160264,940228,670319,370303,790285,990
Noncurrent Assets
Operating lease, right-of-use asset 37,81047,31045,770
Property, plant and equipment 71,61074,09075,830102,280113,02093,760
Intangible assets, net (including goodwill) 48,91061,59064,47090,710228,420206,910
Goodwill  3,3604,35012,660138,190120,190
Intangible assets, net (excluding goodwill) 48,91058,23060,12078,05090,23086,720
Deferred income tax assets 1,7501,280430
Other noncurrent assets 5,6807,2805,8706,30011,51017,340
Deferred tax assets, net  9,370
Other undisclosed noncurrent assets    2,6904,290 
Total noncurrent assets: 165,760191,550192,370201,980357,240327,380
TOTAL ASSETS: 438,920456,490421,040521,350661,030613,370
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 147,060158,620127,300188,950191,800175,230
Accounts payable 102,19099,52078,450123,130138,730111,450
Accrued liabilities 44,87059,10048,85065,82053,07063,780
Debt 3,78014,1204,31013,86016,71022,900
Other undisclosed current liabilities 11,01012,1809,880   
Total current liabilities: 161,850184,920141,490202,810208,510198,130
Noncurrent Liabilities
Long-term debt and lease obligation, including: 333,000298,300205,050350,650258,880327,040
Long-term debt, excluding current maturities 297,070251,960236,550   
Other undisclosed long-term debt and lease obligation   (79,570)350,650258,880327,040
Liabilities, other than long-term debt 10,84017,69017,83019,96038,37056,140
Deferred tax liabilities, net  25,730
Deferred income tax liabilities 1,9203,1304,040
Other liabilities 8,92014,56013,79019,96038,37030,410
Operating lease, liability 35,93046,34048,070
Other undisclosed noncurrent liabilities (26,520)(20,570)48,07014,15014,870 
Total noncurrent liabilities: 317,320295,420270,950384,760312,120383,180
Total liabilities: 479,170480,340412,440587,570520,630581,310
Equity
Equity, attributable to parent (33,690)(18,690)12,340(63,720)141,89032,360
Common stock 270260250250250210
Treasury stock, value (10,000)(10,000)(10,000)(10,000)(10,000) 
Additional paid in capital 170,990166,610163,240160,990159,49054,800
Accumulated other comprehensive income (loss) (9,710)(6,540)(9,790)7,76010,010(8,340)
Accumulated deficit (210,250)(178,530)(141,970)(222,720)(17,860)(14,310)
Warrants and rights outstanding 25,0109,51010,610   
Equity, attributable to noncontrolling interest (6,560)(5,160)(3,740)(2,500)(1,490)(300)
Total equity: (40,250)(23,850)8,600(66,220)140,40032,060
TOTAL LIABILITIES AND EQUITY: 438,920456,490421,040521,350661,030613,370

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

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 782,120661,230690,450849,950892,980649,200
Revenue, net892,980649,200
Cost of revenue
(Cost of Goods and Services Sold)
 (639,540)(540,680)(594,220)(706,070)(685,380)(488,850)
Gross profit: 142,580120,55096,230143,880207,600160,350
Operating expenses (135,360)(127,460)(153,400)(312,130)(171,620)(153,510)
Other undisclosed operating loss    (2,140)(1,220)(540)
Operating income (loss): 7,220(6,910)(57,170)(170,390)34,7606,300
Nonoperating expense (12,530)(470)(5,390)(40,870)(29,780)(22,690)
Loss, foreign currency transaction, before tax (4,120)     
Other nonoperating expense (8,410)(470)(5,390)(13,130)(2,730)(2,610)
Interest and debt expense (27,970)(31,680)(58,270)(27,740)(4,640)(20,080)
Other undisclosed income from continuing operations before equity method investments, income taxes    27,7404,64020,080
Income (loss) from continuing operations before income taxes: (33,280)(39,060)(120,830)(211,260)4,980(16,390)
Income tax expense (benefit) 1601,58010,8206,360(9,750)3,730
Loss from continuing operations: (33,120)(37,480)(110,010)(204,900)(4,770)(12,660)
Income (loss) before gain (loss) on sale of properties:(33,120)(37,980)79,510(204,900)(4,770)(12,660)
Income (loss) from discontinued operations  (500)189,520   
Net income (loss): (33,120)(37,980)79,510(204,900)(4,770)(12,660)
Net income attributable to noncontrolling interest 1,4001,4201,2409401,220300
Net income (loss) available to common stockholders, diluted: (31,720)(36,560)80,750(203,960)(3,550)(12,360)

Comprehensive Income ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss): (33,120)(37,980)79,510(204,900)(4,770)(12,660)
Other comprehensive income (loss) (3,170)3,250(290)(2,880)18,380(10,810)
Comprehensive income (loss): (36,290)(34,730)79,220(207,780)13,610(23,470)
Comprehensive income, net of tax, attributable to noncontrolling interest 1,4001,4201,2401,0101,190 
Other undisclosed comprehensive income, net of tax, attributable to parent      300
Comprehensive income (loss), net of tax, attributable to parent: (34,890)(33,310)80,460(206,770)14,800(23,170)

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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