TransDigm Group Inc. Files 10-Q for Period Ending December 30, 2023

TL;DR

<b>TransDigm Group Inc. filed its Q1 2024 10-Q report, detailing financial performance for the quarter ending December 30, 2023.</b>

AI Summary

TransDigm Group INC (TDG) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. TransDigm Group Inc. reported financial results for the first quarter of fiscal year 2024, ending December 30, 2023. The filing is a 10-Q, indicating a quarterly report filed with the SEC. The company's fiscal year ends on September 30th. TransDigm Group Inc. is incorporated in Delaware. The company's principal business is Aircraft Part & Auxiliary Equipment.

Why It Matters

For investors and stakeholders tracking TransDigm Group INC, this filing contains several important signals. This filing provides investors with an update on TransDigm's financial health and operational performance during the first quarter of its fiscal year. Understanding the details within this 10-Q is crucial for assessing the company's current financial standing, profitability, and any potential risks or opportunities.

Risk Assessment

Risk Level: low — TransDigm Group INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not appear to contain any immediate red flags or significant negative developments based on the provided header information.

Analyst Insight

Review the detailed financial statements and management discussion within the full 10-Q filing to identify specific revenue drivers, cost structures, and any forward-looking statements.

Key Numbers

• 20231230 — Period End Date (Conformed period of report)
• 20240208 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Fiscal year end)
• 224,400,000 — Shares Outstanding (approx) (Shares)
• 61,211,663 — Common Stock Value (CommonStockMember value as of 2023-12-30)
• 60,995,513 — Common Stock Value (Prior) (CommonStockMember value as of 2022-12-31)
• 5,688,639 — Additional Paid-In Capital (AdditionalPaidInCapitalMember value as of 2023-12-30)
• 5,688,639 — Additional Paid-In Capital (Prior) (AdditionalPaidInCapitalMember value as of 2022-12-31)

Key Players & Entities

• TransDigm Group INC (company) — Filer name
• TDG (company) — Ticker symbol
• 10-Q (filing) — Form type
• 20231230 (date) — Conformed period of report
• 20240208 (date) — Filed as of date
• DE (jurisdiction) — State of incorporation
• CLEVELAND (location) — Business address city
• OH (location) — Business address state

FAQ

Key Dates

• 2023-12-30: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-02-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.
• 2023-10-01: Quarter Start Date — Beginning of the fiscal first quarter for 2024.

Key Financial Figures

• $0.01 — nge on which registered: Common Stock, $0.01 par value TDG New York Stock Exchange
• $35 — t — — — — — — — 1 1 Special dividends ($35 per share) and dividend equivalents — —

Filing Documents

• tdg-20231230.htm (10-Q) — 1400KB
• exhibit101amendmenttosecon.htm (EX-10.1) — 16KB
• exhibit22tdg2024q110-q.htm (EX-22) — 71KB
• exhibit311tdg2024q110-q.htm (EX-31.1) — 9KB
• exhibit312tdg2024q110-q.htm (EX-31.2) — 10KB
• exhibit321tdg2024q110-q.htm (EX-32.1) — 5KB
• exhibit322tdg2024q110-q.htm (EX-32.2) — 5KB
• 0001260221-24-000021.txt (&nbsp;) — 8290KB
• tdg-20231230.xsd (EX-101.SCH) — 57KB
• tdg-20231230_cal.xml (EX-101.CAL) — 80KB
• tdg-20231230_def.xml (EX-101.DEF) — 252KB
• tdg-20231230_lab.xml (EX-101.LAB) — 742KB
• tdg-20231230_pre.xml (EX-101.PRE) — 478KB
• tdg-20231230_htm.xml (XML) — 1345KB

FINANCIAL INFORMATION 1

PART I FINANCIAL INFORMATION 1

Financial Statements 1

ITEM 1 Financial Statements 1 Condensed Consolidated Balance Sheets – December 30, 2023 and September 30, 2023 1 Condensed Consolidated Statements of Income – Thirteen Week Periods Ended December 30, 2023 and December 31, 2022 2 Condensed Consolidated Statements of Comprehensive Income – Thirteen Week Periods Ended December 30, 2023 and December 31, 2022 3 Condensed Consolidated Statements of Changes in Stockholders' Deficit – Thirteen Week Periods Ended December 30, 2023 and December 31, 2022 4 Condensed Consolidated Statements of Cash Flows – Thirteen Week Periods Ended December 30, 2023 and December 31, 2022 5 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations 24

ITEM 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosure About Market Risk 41

ITEM 3 Quantitative and Qualitative Disclosure About Market Risk 41

Controls and Procedures 41

ITEM 4 Controls and Procedures 41

OTHER INFORMATION 42

PART II OTHER INFORMATION 42

Legal Proceedings 42

ITEM 1 Legal Proceedings 42

Risk Factors 42

ITEM 1A Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds: Purchases of Equity Securities by the Issuer 42

ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds: Purchases of Equity Securities by the Issuer 42

Other Information 42

ITEM 5 Other Information 42

Exhibits 43

ITEM 6 Exhibits 43 SIGNATURES 44 Table of Contents

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS TRANSDIGM GROUP INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in millions, except share amounts) (Unaudited) December 30, 2023 September 30, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 4,135 $ 3,472 Trade accounts receivable—Net 1,145 1,230 Inventories—Net 1,708 1,616 Prepaid expenses and other 408 420 Total current assets 7,396 6,738 PROPERTY, PLANT AND EQUIPMENT—NET 1,335 1,255 GOODWILL 9,036 8,988 OTHER INTANGIBLE ASSETS—NET 2,733 2,747 OTHER NON-CURRENT ASSETS 185 242 TOTAL ASSETS $ 20,685 $ 19,970 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Current portion of long-term debt $ 81 $ 71 Short-term borrowings—trade receivable securitization facility 449 349 Accounts payable 288 305 Accrued and other current liabilities 1,000 854 Total current liabilities 1,818 1,579 LONG-TERM DEBT 21,346 19,330 DEFERRED INCOME TAXES 611 627 OTHER NON-CURRENT LIABILITIES 416 412 Total liabilities 24,191 21,948 TD GROUP STOCKHOLDERS' DEFICIT: Common stock - $ .01 par value; authorized 224,400,000 shares; issued 61,211,663 and 60,995,513 at December 30, 2023 and September 30, 2023, respectively 1 1 Additional paid-in capital 2,518 2,440 Accumulated deficit ( 4,266 ) ( 2,621 ) Accumulated other comprehensive loss ( 60 ) ( 98 ) Treasury stock, at cost; 5,688,639 shares at December 30, 2023 and September 30, 2023, respectively ( 1,706 ) ( 1,706 ) Total TD Group stockholders' deficit ( 3,513 ) ( 1,984 ) NONCONTROLLING INTERESTS 7 6 Total stockholders' deficit ( 3,506 ) ( 1,978 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 20,685 $ 19,970 See notes to condensed consolidated financial statements 1 Table of Contents TRANSDIGM GROUP INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Amounts in millions, except per share amounts) (Unaudited) Thirteen Week Periods Ended December 30, 2023 December 31, 2022 NET SALES $ 1,789 $ 1,397 COST OF SALES 747 604 GROSS

View Full Filing

View this 10-Q filing on SEC EDGAR