TransDigm Group Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>TransDigm Group Inc. filed its Q2 2024 10-Q report on May 7, 2024.</b>

AI Summary

TransDigm Group INC (TDG) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. TransDigm Group Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on September 30th. The filing was made on May 7, 2024. TransDigm Group Inc. is in the Aircraft Part & Auxiliary Equipment industry.

Why It Matters

For investors and stakeholders tracking TransDigm Group INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational details for TransDigm Group Inc. during the second quarter of fiscal year 2024. Understanding the specifics of this report is crucial for assessing the company's current financial health, strategic direction, and potential risks in the aerospace and defense sector.

Risk Assessment

Risk Level: medium — TransDigm Group INC shows moderate risk based on this filing. The company operates in the cyclical aerospace industry, which is subject to fluctuations in demand and government spending, as indicated by its SIC code for Aircraft Parts.

Analyst Insight

Monitor TransDigm Group's upcoming earnings calls and investor presentations for management's commentary on the financial results and outlook presented in this 10-Q.

Key Numbers

• 2024-03-30 — Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Fiscal year end)
• 3728 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• TransDigm Group INC (company) — Filer name
• TDG (company) — Ticker symbol
• 2024-03-30 (date) — Period of report
• 2024-05-07 (date) — Filing date
• CLEVELAND (location) — Business address city
• OH (location) — Business address state
• DE (location) — State of incorporation
• AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC (industry) — Standard Industrial Classification

FAQ

Industry Context

TransDigm Group operates within the aerospace and defense industry, specifically in the manufacturing of aircraft components and systems.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Compare the financial metrics in this filing to previous periods and industry benchmarks.
3. Analyze any new risk factors or legal proceedings disclosed in the report.

Key Dates

• 2024-03-30: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the quarterly update for the period ending March 30, 2024, following previous filings for the company.

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-20240330.htm (10-Q) — 1840KB
• exhibit31certificateofform.htm (EX-3.1) — 5KB
• exhibit32certificateofamen.htm (EX-3.2) — 4KB
• exhibit33amendedandrestate.htm (EX-3.3) — 27KB
• exhibit34certificateofform.htm (EX-3.4) — 6KB
• exhibit35limitedliabilityc.htm (EX-3.5) — 22KB
• exhibit36certificateoforga.htm (EX-3.6) — 5KB
• exhibit37operatingagreemen.htm (EX-3.7) — 26KB
• exhibit38limitedliabilityc.htm (EX-3.8) — 5KB
• exhibit39limitedliabilityc.htm (EX-3.9) — 28KB
• exhibit22tdg2024q210-q.htm (EX-22) — 72KB
• exhibit311tdg2024q210-q.htm (EX-31.1) — 9KB
• exhibit312tdg2024q210-q.htm (EX-31.2) — 10KB
• exhibit321tdg2024q210-q.htm (EX-32.1) — 5KB
• exhibit322tdg2024q210-q.htm (EX-32.2) — 5KB
• ex3_1-image1.jpg (GRAPHIC) — 492KB
• ex3_1-image2.jpg (GRAPHIC) — 10KB
• ex3_2-image1.jpg (GRAPHIC) — 536KB
• ex3_2-image2.jpg (GRAPHIC) — 59KB
• ex3_4-image1.jpg (GRAPHIC) — 33KB
• ex3_7-image1.jpg (GRAPHIC) — 59KB
• ex3_7-image2.jpg (GRAPHIC) — 38KB
• ex3_8-image1.jpg (GRAPHIC) — 14KB
• ex3_8-image2.jpg (GRAPHIC) — 33KB
• 0001260221-24-000046.txt (&nbsp;) — 11280KB
• tdg-20240330.xsd (EX-101.SCH) — 59KB
• tdg-20240330_cal.xml (EX-101.CAL) — 82KB
• tdg-20240330_def.xml (EX-101.DEF) — 296KB
• tdg-20240330_lab.xml (EX-101.LAB) — 711KB
• tdg-20240330_pre.xml (EX-101.PRE) — 509KB
• tdg-20240330_htm.xml (XML) — 1556KB

FINANCIAL INFORMATION 1

PART I FINANCIAL INFORMATION 1

Financial Statements 1

ITEM 1 Financial Statements 1 Condensed Consolidated Balance Sheets – March 30, 2024 and September 30, 2023 1 Condensed Consolidated Statements of Income – Thirteen and Twenty-Six Week Periods Ended March 30, 2024 and April 1, 2023 2 Condensed Consolidated Statements of Comprehensive Income – Thirteen and Twenty-Six Week Periods Ended March 30, 2024 and April 1, 2023 3 Condensed Consolidated Statements of Changes in Stockholders' Deficit – Thirteen and Twenty-Six Week Periods Ended March 30, 2024 and April 1, 2023 4 Condensed Consolidated Statements of Cash Flows – Twenty-Six Week Periods Ended March 30, 2024 and April 1, 2023 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations 27

ITEM 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 27

Quantitative and Qualitative Disclosure About Market Risk 50

ITEM 3 Quantitative and Qualitative Disclosure About Market Risk 50

Controls and Procedures 50

ITEM 4 Controls and Procedures 50

OTHER INFORMATION 51

PART II OTHER INFORMATION 51

Legal Proceedings 51

ITEM 1 Legal Proceedings 51

Risk Factors 51

ITEM 1A Risk Factors 51

Unregistered Sales of Equity Securities and Use of Proceeds: Purchases of Equity Securities by the Issuer 51

ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds: Purchases of Equity Securities by the Issuer 51

Other Information 51

ITEM 5 Other Information 51

Exhibits 52

ITEM 6 Exhibits 52 SIGNATURES 53 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) March 30, 2024 September 30, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 4,288 $ 3,472 Restricted cash 550 — Trade accounts receivable—Net 1,201 1,230 Inventories—Net 1,753 1,616 Prepaid expenses and other 490 420 Total current assets 8,282 6,738 PROPERTY, PLANT AND EQUIPMENT—NET 1,288 1,255 GOODWILL 9,051 8,988 OTHER INTANGIBLE ASSETS—NET 2,709 2,747 OTHER NON-CURRENT ASSETS 247 242 TOTAL ASSETS $ 21,577 $ 19,970 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Current portion of long-term debt $ 625 $ 71 Short-term borrowings—trade receivable securitization facility 450 349 Accounts payable 302 305 Accrued and other current liabilities 858 854 Total current liabilities 2,235 1,579 LONG-TERM DEBT 21,331 19,330 DEFERRED INCOME TAXES 606 627 OTHER NON-CURRENT LIABILITIES 427 412 Total liabilities 24,599 21,948 TD GROUP STOCKHOLDERS' DEFICIT: Common stock - $ .01 par value; authorized 224,400,000 shares; issued 61,622,411 and 60,995,513 at March 30, 2024 and September 30, 2023, respectively 1 1 Additional paid-in capital 2,664 2,440 Accumulated deficit ( 3,870 ) ( 2,621 ) Accumulated other comprehensive loss ( 118 ) ( 98 ) Treasury stock, at cost; 5,688,639 shares at March 30, 2024 and September 30, 2023, respectively ( 1,706 ) ( 1,706 ) Total TD Group stockholders' deficit ( 3,029 ) ( 1,984 ) NONCONTROLLING INTERESTS 7 6 Total stockholders' deficit ( 3,022 ) ( 1,978 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 21,577 $ 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 Twenty-Six Week Periods Ended March 30, 2024 April 1, 2023 March 30, 2024 April

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View this 10-Q filing on SEC EDGAR