Tower International, Inc. (TOWR) financial statements (2021 and earlier)

Company profile

Business Address 17672 LAUREL PARK DRIVE NORTH
LIVONIA, MI 48152
State of Incorp. DE
Fiscal Year End December 31
SIC 3714 - Motor Vehicle Parts and Accessories (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6812463143149135114
Cash and cash equivalents6812463143149135114
Receivables113239178251230256266
Inventory, net of allowances, customer advances and progress billings69797271708181
Inventory69797271708181
Disposal group, including discontinued operation1762459 60  
Other undisclosed current assets283991467113054107
Total current assets:710564518536639525568
Noncurrent Assets
Property, plant and equipment348535466473451550573
Long-term investments and receivables   889 
Long-term investments   889 
Intangible assets, net (including goodwill)7645663576969
Goodwill7645659576765
Intangible assets, net (excluding goodwill)   3 24
Disposal group, including discontinued operation, noncurrent assets    5
Other noncurrent assets231410122529
Prepaid expense and other noncurrent assets29
Assets held-for-sale, long lived11
Other undisclosed noncurrent assets83(77)(66)(82)(92)(103)(98)
Total noncurrent assets:461536466473453553574
Other undisclosed assets 1601792079110596
TOTAL ASSETS:1,1701,2601,1631,2151,1831,1831,238
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities273437372406363392400
Accounts payable189323258298257262265
Accrued liabilities84114114108106129135
Debt4423430314075
Disposal group, including discontinued operation1581346 38  
Other undisclosed current liabilities1047 30  
Total current liabilities:445497460436462431474
Noncurrent Liabilities
Long-term debt and lease obligation294345356418465464422
Long-term debt, excluding current maturities294345351412457454412
Capital lease obligations  5681011
Liabilities, other than long-term debt130149133155187151201
Pension and other postretirement defined benefit plans, liabilities55101
Deferred tax liabilities, net 566131413
Liability, pension and other postretirement and postemployment benefits4648626669
Disposal group, including discontinued operation, liabilities    30  
Other liabilities84966683758187
Other undisclosed noncurrent liabilities    (30)  
Total noncurrent liabilities:424494489573622615623
Total liabilities:8699909491,0091,0831,0461,097
Stockholders' equity
Stockholders' equity attributable to parent301270208197437463
Common stock0000000
Treasury stock, value(37)(36)(36)(16)(10)(9)(8)
Additional paid in capital348344341338335328321
Accumulated other comprehensive income (loss)(75)(68)(83)(80)(47)12(12)
Retained earnings (accumulated deficit)6530(14)(44)(236)(257)(237)
Stockholders' equity attributable to noncontrolling interest  69576278
Total stockholders' equity:301270214207100137141
TOTAL LIABILITIES AND EQUITY:1,1701,2601,1631,2151,1831,1831,238

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

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues1,5721,9881,9141,9562,0682,1022,085
Revenue, net1,9881,9141,9562,0682,1022,085
Cost of revenue
(Cost of Goods and Services Sold)
(1,378)(1,744)(1,675)(1,737)(1,839)(1,859)(1,871)
Gross profit:194245238218229243214
Operating expenses(93)(129)(137)(140)(150)(159)(150)
Other operating income, net
(Other Expenses)
     41 
Other undisclosed operating income (loss)    1(40)1
Operating income:10111510179818664
Nonoperating income (expense)0(0)(6)10(47)1
Investment income, nonoperating1011111
Other nonoperating expense(1)(1)(6) (0)(48) 
Interest and debt expense(20)(14)(22)(24)(35)(52)(55)
Other undisclosed loss from continuing operations before equity method investments, income taxes(2)      
Income (loss) from continuing operations before equity method investments, income taxes:78101745546(13)10
Loss from equity method investments   (0)(1)(1) 
Other undisclosed income from continuing operations before income taxes   011 
Income (loss) from continuing operations before income taxes:78101745546(13)10
Income tax expense (benefit)(1)(55)(17)123(9)(2)(15)
Other undisclosed loss from continuing operations   (0)(1)(1) 
Income (loss) from continuing operations:77465617837(16)(5)
Income (loss) from discontinued operations(28)2(17)18(9) 30
Net income (loss):49483919627(16)25
Net loss attributable to noncontrolling interest (0)(1)(2)(6)(4)(7)
Net income (loss) available to common stockholders, diluted:49483919422(20)18

Comprehensive Income ($ in millions)

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net income (loss):49483919627(16)25
Other comprehensive income (loss)(2)16(3)(35)(60)27(0)
Other undisclosed comprehensive loss(9)      
Comprehensive income (loss):386336160(33)1125
Comprehensive income (loss), net of tax, attributable to noncontrolling interest (0)(0)0(4)68
Other undisclosed comprehensive loss, net of tax, attributable to parent     (12)(16)
Comprehensive income (loss), net of tax, attributable to parent:386336160(38)417

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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