Chart Industries Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Chart Industries Inc. has submitted its 2023 annual report (10-K), detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

CHART INDUSTRIES INC (GTLS) filed a Annual Report (10-K) with the SEC on February 28, 2024. Chart Industries Inc. filed its 2023 Form 10-K on February 28, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located in Ball Ground, Georgia. Chart Industries Inc. is classified under Standard Industrial Classification 3443 (Fabricated Plate Work). The filing includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking CHART INDUSTRIES INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Chart Industries' financial health, operational performance, and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess the company's current standing and future prospects. The detailed financial statements and risk factor disclosures within the 10-K are essential for understanding the company's revenue streams, profitability, debt levels, and potential challenges in the fabricated plate work industry.

Risk Assessment

Risk Level: medium — CHART INDUSTRIES INC shows moderate risk based on this filing. The company's financial performance and future outlook are subject to various market and operational risks inherent in the industrial manufacturing sector, as detailed in the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Chart Industries' performance and potential future challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-28 — Filing Date (Filed as of date)
• 3443 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CHART INDUSTRIES INC (company) — Filer name
• 2023 (date) — Fiscal year end
• 2024-02-28 (date) — Filing date
• Ball Ground, GA (location) — Business address city and state
• 3443 (other) — Standard Industrial Classification

FAQ

Risk Factors

• Market Risks [medium — market]: The company's operations are subject to various market risks that could impact its financial performance.
• Operational Risks [medium — operational]: Operational challenges and disruptions could adversely affect the company's ability to conduct business.
• Financial Risks [medium — financial]: The company faces financial risks related to its capital structure and market conditions.

Industry Context

Chart Industries Inc. operates in the fabricated plate work industry, which involves the manufacturing of industrial gas equipment and related products.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports on Form 10-K.

What Investors Should Do

1. Analyze the detailed financial statements for revenue, net income, and other key performance indicators.
2. Review the risk factors section to understand potential challenges and their impact on the business.
3. Compare the 2023 results with previous years to identify trends and assess performance changes.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-28: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 GTLS New York Stock Exchange Depositar
• $159.79 — s computed by reference to the price of $159.79 per share at which the common equity wa
• $3.4 b — 3, 2022 and 2021, we generated sales of $3.4 billion, $1.6 billion, and $1.3 billion,
• $1.6 b — 21, we generated sales of $3.4 billion, $1.6 billion, and $1.3 billion, respectively.
• $1.3 b — ales of $3.4 billion, $1.6 billion, and $1.3 billion, respectively. On March 17, 2023
• $4.4 billion — n"). The acquisition purchase price was $4.4 billion. We financed the purchase price for the

Filing Documents

• gtls-20231231.htm (10-K) — 3471KB
• exhibit43descriptionofsecu.htm (EX-4.3) — 443KB
• exhibit10221stockoptionawa.htm (EX-10.2 21) — 66KB
• exhibit10222psuawardagreem.htm (EX-10.2 22) — 129KB
• exhibit10223rsuawardagreem.htm (EX-10.2 23) — 71KB
• exhibit211listofsubsidiari.htm (EX-21.1) — 88KB
• exhibit231consent.htm (EX-23.1) — 2KB
• gtls-ex311x20231231.htm (EX-31.1) — 10KB
• gtls-ex312x20231231.htm (EX-31.2) — 10KB
• gtls-ex321x20231231.htm (EX-32.1) — 6KB
• gtls-ex322x20231231.htm (EX-32.2) — 6KB
• exhibit971clawbackpolicy.htm (EX-97.1) — 29KB
• gtls-20231231_g1.jpg (GRAPHIC) — 133KB
• 0000892553-24-000067.txt (&nbsp;) — 21904KB
• gtls-20231231.xsd (EX-101.SCH) — 124KB
• gtls-20231231_cal.xml (EX-101.CAL) — 218KB
• gtls-20231231_def.xml (EX-101.DEF) — 833KB
• gtls-20231231_lab.xml (EX-101.LAB) — 1539KB
• gtls-20231231_pre.xml (EX-101.PRE) — 1230KB
• gtls-20231231_htm.xml (XML) — 3766KB

Risk Factors

Item 1A. Risk Factors 10

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 20

Cybersecurity

Item 1C. Cybersecurity 21

Properties

Item 2. Properties 22

Legal Proceedings

Item 3. Legal Proceedings 22

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 22 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 23

[Reserved]

Item 6. [Reserved] 24

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 45

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 47

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 47

Controls and Procedures

Item 9A. Controls and Procedures 47

Other Information

Item 9B. Other Information 48

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 48 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 49

Executive Compensation

Item 11. Executive Compensation 51

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 51

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 51

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 51 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 52

Form 10 – K Summary

Item 16. Form 10 – K Summary 52

SIGNATURES

SIGNATURES 53 INDEX TO FINANCIAL STATEMENTS 54 REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM F- 1 SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS F- 69 INDEX TO EXHIBITS E- 1 PART I

Business

Item 1. Business THE COMPANY Overview Chart Industries, Inc., a Delaware corporation incorporated in 1992 (the "Company," "Chart," "we," "us," or "our" as used herein refers to Chart Industries, Inc. and our consolidated subsidiaries, unless the context indicates otherwise), is an independent global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean – clean power, clean water, clean food, and clean industrials, regardless of molecule. The Company's unique product and solution portfolio across stationary and rotating equipment is used in every phase of the liquid gas supply chain, including engineering, service and repair from installation to preventive maintenance and digital monitoring. Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and carbon capture among other applications. Chart is committed to excellence in environmental, social and corporate governance ("ESG") issues both for its company as well as its customers. With 64 global manufacturing locations and over 50 service centers from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities. Our primary customers are large, multinational producers and distributors of hydrocarbon, hydrogen and industrial gases and their end-users. We sell our products and services to more than 7,000 customers worldwide, having developed long-standing relationships with leading companies in the gas production, distribution and processing industries as well as those involved in liquefied natural gas (LNG), chemicals and industrial gases. Our well-established relationships extend to truck manufacturers in addition to those in other clean energy industries such as biofuels, hydrogen, water and carbon capture. Our customers include: Linde, Air Liqu

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View this 10-K filing on SEC EDGAR