Rogers Corporation Reports First Quarter 2019 Results
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Condensed Consolidated Statements of Financial Position
(Unaudited)
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(IN THOUSANDS)
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March 31, 2019
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December 31, 2018
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Assets
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Current assets
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Cash and cash equivalents
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$
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162,074
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$
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167,738
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Accounts receivable, less allowance for doubtful accounts of $1,184
and $1,354
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160,696
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144,623
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Contract assets
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27,315
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22,728
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Inventories
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133,242
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132,637
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Prepaid income taxes
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3,190
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3,093
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Asbestos-related insurance receivables, current portion
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4,138
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4,138
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Other current assets
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13,255
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10,829
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Total current assets
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503,910
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485,786
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Property, plant and equipment, net of accumulated depreciation of
$323,623 and $317,414
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244,911
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242,759
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Investments in unconsolidated joint ventures
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15,799
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18,667
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Deferred income taxes
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11,316
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8,236
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Goodwill
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263,251
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264,885
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Other intangible assets, net of amortization
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172,234
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177,008
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Pension assets
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19,596
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19,273
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Asbestos-related insurance receivables, non-current portion
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59,685
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59,685
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Other long-term assets
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8,692
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3,045
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Total assets
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$
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1,299,394
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$
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1,279,344
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Liabilities and Shareholders’ Equity
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Current liabilities
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Accounts payable
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$
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43,481
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$
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40,321
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Accrued employee benefits and compensation
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26,984
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30,491
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Accrued income taxes payable
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8,720
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7,032
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Asbestos-related liabilities, current portion
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5,547
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5,547
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Other accrued liabilities
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23,633
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23,789
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Total current liabilities
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108,365
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107,180
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Borrowings under revolving credit facility
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223,482
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228,482
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Pension and other postretirement benefits liabilities
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1,739
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1,739
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Asbestos-related liabilities, non-current portion
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64,672
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64,799
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Non-current income tax
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7,712
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8,418
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Deferred income taxes
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11,151
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10,806
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Other long-term liabilities
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13,951
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9,596
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Shareholders’ equity
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Capital stock - $1 par value; 50,000 authorized shares; 18,546 and
18,395 shares issued and outstanding
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18,546
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18,395
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Additional paid-in capital
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128,417
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132,360
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Retained earnings
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804,782
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776,403
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Accumulated other comprehensive loss
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(83,423
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(78,834
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Total shareholders' equity
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868,322
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848,324
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Total liabilities and shareholders' equity
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$
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1,299,394
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$
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1,279,344
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