Belden Inc. Files 10-Q for Q2 2024

TL;DR

Belden Inc. 10-Q filed. Financials for Q2 2024 out.

AI Summary

Belden Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Key financial data points and disclosures relevant to investors are included in this report.

Why It Matters

This 10-Q filing provides investors with a detailed look into Belden Inc.'s financial health and operational performance for the second quarter of 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial performance or risks.

Key Players & Entities

• BELDEN INC. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240801 (date) — Filing date
• ST. LOUIS (location) — City of Belden Inc.'s business and mailing address

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value BDC New York Stock Exchange

Filing Documents

• bdc-20240630.htm (10-Q) — 1311KB
• ex311q22024.htm (EX-31.1) — 10KB
• ex312q22024.htm (EX-31.2) — 10KB
• ex321q22024.htm (EX-32.1) — 4KB
• ex322q22024.htm (EX-32.2) — 4KB
• 0000913142-24-000029.txt ( ) — 7564KB
• bdc-20240630.xsd (EX-101.SCH) — 43KB
• bdc-20240630_cal.xml (EX-101.CAL) — 77KB
• bdc-20240630_def.xml (EX-101.DEF) — 177KB
• bdc-20240630_lab.xml (EX-101.LAB) — 572KB
• bdc-20240630_pre.xml (EX-101.PRE) — 400KB
• bdc-20240630_htm.xml (XML) — 1331KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements BELDEN INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 December 31, 2023 (Unaudited) (In thousands) ASSETS Current assets: Cash and cash equivalents $ 564,751 $ 597,044 Receivables, net 396,850 413,806 Inventories, net 374,991 366,987 Other current assets 75,951 79,142 Total current assets 1,412,543 1,456,979 Property, plant and equipment, less accumulated depreciation 460,949 451,069 Operating lease right-of-use assets 127,824 89,686 Goodwill 1,031,119 907,331 Intangible assets, less accumulated amortization 423,781 269,144 Deferred income taxes 16,318 15,739 Other long-lived assets 50,062 50,243 $ 3,522,596 $ 3,240,191 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 260,857 $ 343,215 Accrued liabilities 277,290 290,289 Payable to sellers of Precision Optical Technologies 291,508 — Total current liabilities 829,655 633,504 Long-term debt 1,164,840 1,204,211 Postretirement benefits 70,250 74,573 Deferred income taxes 90,411 49,472 Long-term operating lease liabilities 110,148 74,941 Other long-term liabilities 37,415 37,188 Stockholders' equity: Common stock 503 503 Additional paid-in capital 823,205 818,663 Retained earnings 1,068,052 985,807 Accumulated other comprehensive loss ( 25,219 ) ( 41,279 ) Treasury stock ( 646,695 ) ( 597,437 ) Total Belden stockholders' equity 1,219,846 1,166,257 Noncontrolling interests 31 45 Total stockholders' equity 1,219,877 1,166,302 $ 3,522,596 $ 3,240,191 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. -1- BELDEN INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (In thousands, except per share data) Revenues $ 604,336 $ 692,245 $ 1,140,011 $ 1,334,034 Cost of sales ( 377,530 ) ( 430,917 ) ( 711,609 ) ( 826,601 ) Gross profit 226

View Full Filing

View this 10-Q filing on SEC EDGAR