Downside's financial data extraction

Connecting to database

COMPASS MINERALS INTERNATIONAL I

SEC Form 10-Q filed 2010-07-30 for the period ending 2010-06-30

(Debug messages on)

Selected tables from the SEC filing

Table 0

Financial table in standard format

COMPASS MINERALS INTERNATIONAL, INC.
TAB
LE OF CONTENTS

	PART I.FINANCIAL INFORMATION
		Page
Item 1.	Financial Statements

	Consolidated Balance Sheets as of June 30, 2010 (unaudited) and December 31, 2009		2

	Consolidated Statements of Operations for the three months and six months ended June 30, 2010 and 2009 (unaudited)		3

	Consolidated Statement of Stockholders Equity for the six months ended June 30, 2010 (unaudited)		4

	Consolidated Statements of Cash Flows for the six months ended June 30, 2010 and 2009 (unaudited)		5

	Notes to Consolidated Financial Statements (unaudited)		6

Item 2.	Managements Discussion and Analysis of Financial Condition and Results of Operations		15

Item 3.	Quantitative and Qualitative Disclosures about Market Risk		22

Item 4.	Controls and Procedures		22

	PART II.OTHER INFORMATION

Item 1.	Legal Proceedings		22

Item 1A.	Risk Factors		22

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		22

Item 3.	Defaults upon Senior Securities		22

Item 5.	Other Information		23

Item 6.	Exhibits		23

SIGNATURES			24

COMPASS MINERALS INTERNATIONAL I CIK:1227654

Notes to Consolidated Financial Statements (unaudited)		6
Item 2.		15
Item 3.		22
Item 4.		22
PART II.OTHER INFORMATION
Item 1.		22
Item 1A.		22
Item 2.		22
Item 3.		22
Item 5.		23
Item 6.		23
SIGNATURES		24

Data column 1: "numyear" is ambiguous (2010 or 2009 or 2010 or 2009 or 2010 or 2010 or 2009)
Data column 1: "month" is ambiguous (6 or 12 or 6 or 6 or 6)
Data column 1: "dayofmonth" is ambiguous (30 or 31 or 30 or 30 or 30)
Data column 1: Unable to interpret date in column header
Data column 2: Unable to interpret date in column header
Row "SIGNATURES": Multi-column field in a numeric row

Table 1

Financial table in standard format

Table of Contents
PART I.FINANCIAL INFORMATION
Item 1.
Financial Statements

COMPASS MINERALS INTERNATIONAL, INC.
CONSOLIDATED BALANCE SHEETS
(in millions, except share data)
	(Unaudited)
	June 30,			December 31,
	2010			2009
ASSETS
Current assets:
Cash and cash equivalents	$	112.4		$	13.5
Receivables, less allowance for doubtful accounts of
$2.4 in 2010 and $2.5 in 2009		74.5			167.5
Inventories		215.6			273.2
Deferred income taxes, net		17.6			17.7
Other		8.5			11.5
Total current assets		428.6			483.4
Property, plant and equipment, net		480.8			463.8
Intangible assets, net		19.0			19.7
Other		40.1			36.9
Total assets	$	968.5		$	1,003.8
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$	4.1		$	4.1
Accounts payable		52.3			95.7
Accrued expenses		35.0			46.7
Accrued salaries and wages		14.3			15.2
Income taxes payable		3.2			21.9
Accrued interest		0.8			1.0
Total current liabilities		109.7			184.6
Long-term debt, net of current portion		484.7			486.6
Deferred income taxes, net		59.6			55.0
Other noncurrent liabilities		49.4			54.5
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock:$0.01 par value, 200,000,000 authorized shares;
35,367,264 issued shares		0.4			0.4
Additional paid-in capital		17.7			11.7
Treasury stock, at cost 2,619,173 shares at June 30, 2010 and
2,724,083 shares at December 31, 2009		(5.0	)		(5.2	)
Retained earnings		229.2			185.0
Accumulated other comprehensive income		22.8			31.2
Total stockholders' equity		265.1			223.1
Total liabilities and stockholders' equity	$	968.5		$	1,003.8

COMPASS MINERALS INTERNATIONAL I CIK:1227654
	2010-06-30	2009-12-31
ASSETS
Current assets:
Cash and cash equivalents	$112.4	$13.5
Receivables, less allowance for doubtful accounts of
$2.4 in 2010 and $2.5 in 2009	74.5	167.5
Inventories	215.6	273.2
Deferred income taxes, net	17.6	17.7
Other	8.5	11.5
Total current assets	428.6	483.4
Property, plant and equipment, net	480.8	463.8
Intangible assets, net	19.0	19.7
Other	40.1	36.9
Total assets	$968.5	$1,003.8
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$4.1	$4.1
Accounts payable	52.3	95.7
Accrued expenses	35.0	46.7
Accrued salaries and wages	14.3	15.2
Income taxes payable	3.2	21.9
Accrued interest	0.8	1.0
Total current liabilities	109.7	184.6
Long-term debt, net of current portion	484.7	486.6
Deferred income taxes, net	59.6	55.0
Other noncurrent liabilities	49.4	54.5
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock:$0.01 par value, 200,000,000 authorized shares;
35,367,264 issued shares	0.4	0.4
Additional paid-in capital	17.7	11.7
Treasury stock, at cost 2,619,173 shares at June 30, 2010 and
2,724,083 shares at December 31, 2009	(5.0)	(5.2)
Retained earnings	229.2	185.0
Accumulated other comprehensive income	22.8	31.2
Total stockholders' equity	265.1	223.1
Total liabilities and stockholders' equity	$968.5	$1,003.8

Table 2

Table column format standardization was unsuccessful.

CO
MPASS MINERALS INTERNATIONAL, INC.
CONSOLIDATED BALANCE SHEETS
(in millions, except share data)
(Unaudited)
June 30,
December 31,
2010
2009
ASSETS
Current assets:
Cash and cash equivalents
$
112.4
$
13.5
Receivables, less allowance for doubtful accounts of
$2.4 in 2010 and $2.5 in 2009
74.5
167.5
Inventories
215.6
273.2
Deferred income taxes, net
17.6
17.7
Other
8.5
11.5
Total current assets
428.6
483.4
Property, plant and equipment, net
480.8
463.8
Intangible assets, net
19.0
19.7
Other
40.1
36.9
Total assets
$
968.5
$
1,003.8
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt
$
4.1
$
4.1
Accounts payable
52.3
95.7
Accrued expenses
35.0
46.7
Accrued salaries and wages
14.3
15.2
Income taxes payable
3.2
21.9
Accrued interest
0.8
1.0
Total current liabilities
109.7
184.6
Long-term debt, net of current portion
484.7
486.6
Deferred income taxes, net
59.6
55.0
Other noncurrent liabilities
49.4
54.5
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock:$0.01 par value, 200,000,000 authorized shares;
35,367,264 issued shares
0.4
0.4
Additional paid-in capital
17.7
11.7
Treasury stock, at cost 2,619,173 shares at June 30, 2010 and
2,724,083 shares at December 31, 2009
(5.0
)
(5.2
)
Retained earnings
229.2
185.0
Accumulated other comprehensive income
22.8
31.2
Total stockholders' equity
265.1
223.1
Total liabilities and stockholders' equity
$
968.5
$
1,003.8

The accompanying notes are an integral part of the consolidated financial statements.

Unable to find the column headers.

Table internal representation dump (debug use)

First numeric data row: 0
First row with column header attributes: 
Last row with column header attributes:  

Row 0
    [0..3)   [0..0] (stub): 'The accompanying notes are an integral part of the consolidated financial statements.'



Prototype ranges:
Row 0
    [0..3)   [0..0] (stub): ''

Best data column prototype:
Row 0
    [0..3)   [0..0] (stub): ''

Table attributes: assets,balancesheet,date,liabilities,cash

Table 3

Financial table in standard format

Table of Contents

COMPASS MINERALS INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in millions, except share and per share data)

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2010			2009		2010		2009

Sales	$	179.0		$	159.5	$	536.6	$	468.6
Shipping and handling cost		40.2			37.5		138.9		128.5
Product cost		98.9			67.0		243.2		169.8
Gross profit		39.9			55.0		154.5		170.3
Selling, general and administrative expenses		21.5			20.2		43.4		40.9
Operating earnings		18.4			34.8		111.1		129.4
Other (income) expense:
Interest expense		5.3			6.6		11.2		14.1
Other, net		(1.9	)		5.9		1.8		4.8
Earnings before income taxes		15.0			22.3		98.1		110.5
Income tax expense		3.7			8.2		27.9		34.8
Net earnings	$	11.3		$	14.1	$	70.2	$	75.7

Basic net earnings per common share	$	0.34		$	0.42	$	2.10	$	2.28
Diluted net earnings per common share	$	0.34		$	0.42	$	2.10	$	2.27

Weighted-average common shares outstanding (in thousands):
Basic		32,739			32,585		32,704		32,539
Diluted		32,754			32,601		32,716		32,570

Cash dividends per share	$	0.390		$	0.355	$	0.78	$	0.71

COMPASS MINERALS INTERNATIONAL I CIK:1227654
	2010-03-30 to 2010-06-30 (3-months)	2009-03-30 to 2009-06-30 (3-months)	2009-12-30 to 2010-06-30 (6-months)	2008-12-30 to 2009-06-30 (6-months)
Sales	$179.0	$159.5	$536.6	$468.6
Shipping and handling cost	40.2	37.5	138.9	128.5
Product cost	98.9	67.0	243.2	169.8
Gross profit	39.9	55.0	154.5	170.3
Selling, general and administrative expenses	21.5	20.2	43.4	40.9
Operating earnings	18.4	34.8	111.1	129.4
Other (income) expense:
Interest expense	5.3	6.6	11.2	14.1
Other, net	(1.9)	5.9	1.8	4.8
Earnings before income taxes	15.0	22.3	98.1	110.5
Income tax expense	3.7	8.2	27.9	34.8
Net earnings	$11.3	$14.1	$70.2	$75.7
Basic net earnings per common share	$0.34	$0.42	$2.10	$2.28
Diluted net earnings per common share	$0.34	$0.42	$2.10	$2.27
Weighted-average common shares outstanding (in thousands):
Basic	32,739	32,585	32,704	32,539
Diluted	32,754	32,601	32,716	32,570
Cash dividends per share	$0.390	$0.355	$0.78	$0.71

Row "Weighted-average common shares outstanding (in thousands):": Multi-column field in a numeric row

Table 4

Table column format standardization was unsuccessful.

COM
PASS MINERALS INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in millions, except share and per share data)
Three Months Ended
Six Months Ended
June 30,
June 30,
2010
2009
2010
2009
Sales
$
179.0
$
159.5
$
536.6
$
468.6
Shipping and handling cost
40.2
37.5
138.9
128.5
Product cost
98.9
67.0
243.2
169.8
Gross profit
39.9
55.0
154.5
170.3
Selling, general and administrative expenses
21.5
20.2
43.4
40.9
Operating earnings
18.4
34.8
111.1
129.4
Other (income) expense:
Interest expense
5.3
6.6
11.2
14.1
Other, net
(1.9
)
5.9
1.8
4.8
Earnings before income taxes
15.0
22.3
98.1
110.5
Income tax expense
3.7
8.2
27.9
34.8
Net earnings
$
11.3
$
14.1
$
70.2
$
75.7
Basic net earnings per common share
$
0.34
$
0.42
$
2.10
$
2.28
Diluted net earnings per common share
$
0.34
$
0.42
$
2.10
$
2.27
Weighted-average common shares outstanding (in thousands):
Basic
32,739
32,585
32,704
32,539
Diluted
32,754
32,601
32,716
32,570
Cash dividends per share
$
0.390
$
0.355
$
0.78
$
0.71

The accompanying notes are an integral part of the consolidated financial statements.

Unable to find the column headers.

Table internal representation dump (debug use)

First numeric data row: 0
First row with column header attributes: 
Last row with column header attributes:  

Row 0
    [0..7)   [0..0] (stub): 'The accompanying notes are an integral part of the consolidated financial statements.'



Prototype ranges:
Row 0
    [0..7)   [0..0] (stub): ''

Best data column prototype:
Row 0
    [0..7)   [0..0] (stub): ''

Table attributes: date,cash,incomestatement

Table 5

Financial table in standard format

Table of Contents
of its interest rate risk and commodity pricing risk by using derivative instruments.The Company does not seek to engage in trading activities or take speculative positions with any financial instrument arrangements. The Company has entered into natural gas derivative instruments and interest rate swap agreements with counterparties it views as creditworthy.However, management does attempt to mitigate its counterparty credit risk exposures by entering into master netting agreements with these counterparties.
Cash Flow Hedges
As of June 30, 2010, the Company has entered into natural gas derivative instruments and interest rate swap agreements. The Company records derivative financial instruments as either assets or liabilities at fair value in the statement of financial position.Derivatives qualify for treatment as hedges when there is a high correlation between the change in fair value of the derivative instrument and the related change in value of the underlying hedged item. Furthermore, the Company must designate the hedging instruments based upon the exposure being hedged as a fair value hedge, a cash flow hedge or a net investment in foreign operations hedge.All derivative instruments held by the Company as of June 30, 2010 and December 31, 2009 qualified as cash flow hedges. For these qualifying hedges, the effective portion of the change in fair value is recognized through earnings when the underlying transaction being hedged affects earnings, allowing a derivatives gains and losses to offset related results from the hedged item on the income statement. For derivative instruments that are not accounted for as hedges, or for the ineffective portions of qualifying hedges, the change in fair value is recorded through earnings in the period of change. The Company formally documents, designates, and assesses the effectiveness of transactions that receive hedge accounting initially and on an on-going basis. Any ineffectiveness related to these hedges was not material for any of the periods presented.
Natural gas is used at several of the Companys production facilities and a change in natural gas prices impacts the Companys operating margin.As of June 30, 2010, the Company had entered into natural gas derivative instruments to hedge a portion of its natural gas purchase requirements through June 2013.The Companys objective is to reduce the earnings and cash flow impacts of changes in market prices of natural gas by fixing the purchase price of up to 90% of its forecasted natural gas usage.It is the Companys policy to hedge portions of its natural gas usage up to 36 months in advance of the forecasted purchase. As of June 30, 2010 and December 31, 2009, the Company had agreements in place to hedge forecasted natural gas purchases of 4.9 and 5.2 million mmbtus, respective ly.
As of June 30, 2010, the Company had $391.1 million of borrowings under its senior secured credit agreement (Credit Agreement), which are subject to a floating rate.The Company has $100 million of interest rate swap agreements in place to hedge the variability of future interest payments.The notional amount of the swaps decreases by $50 million in December 2010 with the final $50 million reduction occurring in March 2011.As of June 30, 2010, the interest rate swap agreements effectively fix the weighted-average LIBOR-based portion of its interest rate on a portion of its debt at 4.7%, thereby reducing the impact of interest rate changes on future interest cash flows and expense.
As of June 30, 2010, the Company expects to reclassify from accumulated other comprehensive income to earnings during the next twelve months approximately $4.1 million and $2.6 million of net losses on derivative instruments related to its natural gas and interest rate hedges, respectively.
The following table presents the fair value of the Companys hedged items as of June 30, 2010 and December 31, 2009 (in millions):

	Asset Derivatives			Liability Derivatives

Derivatives Designated as Hedging Instruments(a):	Balance Sheet Location	June 30, 2010		Balance Sheet Location	June 30, 2010

Interest rate contracts	Other current assets	$	-	Accrued expenses	$	2.6
Commodity contracts	Other current assets		0.7	Accrued expenses		4.4
Commodity contracts	Other assets		-	Other noncurrent liabilities		2.6
Total Derivatives Designated as Hedging Instruments		$	0.7		$	9.6

COMPASS MINERALS INTERNATIONAL I CIK:1227654
	2010-06-30	2010-06-30
Interest rate contracts		$2.6
Commodity contracts	0.7	4.4
Commodity contracts		2.6
Total Derivatives Designated as Hedging Instruments	$0.7	$9.6

Data column 1: Unable to interpret date in column header
Data column 3: Unable to interpret date in column header
Row "Interest rate contracts": Multi-column field in a numeric row
Row "Total Derivatives Designated as Hedging Instruments": Multi-column field in a numeric row

Table 6

Financial table in standard format

Table of Contents

	Asset Derivatives			Liability Derivatives

Derivatives Designated as Hedging Instruments(a):	Balance Sheet Location	December 31, 2009		Balance Sheet Location	December 31, 2009

Interest rate contracts	Other current assets	$	-	Accrued expenses	$	5.0
Commodity contracts	Other current assets		1.0	Accrued expenses		2.2
Commodity contracts	Other assets		-	Other noncurrent liabilities		1.3
Total Derivatives Designated as Hedging Instruments		$	1.0		$	8.5

COMPASS MINERALS INTERNATIONAL I CIK:1227654
	2009-12-31	2009-12-31
Interest rate contracts		$5.0
Commodity contracts	1.0	2.2
Commodity contracts		1.3
Total Derivatives Designated as Hedging Instruments	$1.0	$8.5

Table 7

Financial table in standard format

Asset Derivatives
Liability Derivatives
Derivatives Designated as Hedging Instruments
(a)
:
Balance Sheet Location
December 31, 2009
Balance Sheet Location
December 31, 2009
Interest rate contracts
Other current assets
$
-
Accrued expenses
$
5.0
Commodity contracts
Other current assets
1.0
Accrued expenses
2.2
Commodity contracts
Other assets
-
Other noncurrent liabilities
1.3
Total Derivatives Designated as Hedging Instruments
$
1.0
$
8.5
(a) The Company has interest rate swap agreements with three counterparties, one of which holds approximately 70% of the interest rate swaps outstanding.In addition, the Company has commodity hedge agreements with three counterparties.All of the amounts recorded as liabilities for the Companys commodity contracts are payable to one counterparty.The amount recorded as an asset is due from two counterparties.
The following table presents activity related to the Companys other comprehensive income (OCI) for the three and six months ended June 30, 2010 and 2009 (in millions):

		Three Months Ended June 30, 2010					Six Months Ended June 30, 2010
Derivatives in Cash Flow Hedging Relationships	Location of Gain (Loss) Reclassified from Accumulated OCI Into Income (Effective Portion)	Amount of (Gain) Loss Recognized in OCI on Derivative (Effective Portion)		Amount of Gain (Loss) Reclassified from Accumulated OCI Into Income (Effective Portion)			Amount of (Gain) Loss Recognized in OCI on Derivative (Effective Portion)		Amount of Gain (Loss) Reclassified from Accumulated OCI Into Income (Effective Portion)

Interest rate contracts	Interest expense	$	-	$	(1.1	)	$	0.4	$	(2.8	)
Commodity contracts	Cost of sales		0.5		(1.2	)		5.5		(1.7	)
Total		$	0.5	$	(2.3	)	$	5.9	$	(4.5	)

COMPASS MINERALS INTERNATIONAL I CIK:1227654
	2010-03-30 to 2010-06-30 (3-months)	2010-03-30 to 2010-06-30 (3-months)	2010-03-30 to 2010-06-30 (3-months)	2010-03-30 to 2010-06-30 (3-months)	2009-12-30 to 2010-06-30 (6-months)	2009-12-30 to 2010-06-30 (6-months)
Derivatives in Cash Flow Hedging Relationships
Interest rate contracts				$(1.1)	$0.4	$(2.8)
Commodity contracts			0.5	(1.2)	5.5	(1.7)
Total				$(2.3)	$5.9	$(4.5)

Row "Derivatives in Cash Flow Hedging Relationships": Multi-column field in a numeric row
Row "Total": Multi-column field in a numeric row

Original filing from SEC EDGAR system.