| Schedule of Condensed Statements of Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
2019 |
|
2018 |
|
2017 |
Stock compensation expense |
$ |
18,225 |
|
|
$ |
19,464 |
|
|
$ |
8,799 |
|
Equity in net income from subsidiaries |
(97,764 |
) |
|
(77,764 |
) |
|
(66,402 |
) |
Net income |
79,539 |
|
|
58,300 |
|
|
57,603 |
|
Other comprehensive income (loss), net of tax: |
|
|
|
|
|
Pension and postretirement benefits |
2,430 |
|
|
(7,958 |
) |
|
(101 |
) |
Net loss from hedging activities |
(2,665 |
) |
|
(330 |
) |
|
(3,590 |
) |
Foreign currency translation |
22,117 |
|
|
(35,127 |
) |
|
61,713 |
|
Total other comprehensive income (loss) |
21,882 |
|
|
(43,415 |
) |
|
58,022 |
|
Comprehensive income |
$ |
101,421 |
|
|
$ |
14,885 |
|
|
$ |
115,625 |
|
|
|
|
|
|
|
|
| Schedule of Condensed Balance Sheets |
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|
|
|
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|
|
|
December 31,
2019 |
|
December 31,
2018 |
ASSETS |
|
|
|
Investment in subsidiaries |
$ |
1,779,450 |
|
|
$ |
1,659,560 |
|
Total assets |
$ |
1,779,450 |
|
|
$ |
1,659,560 |
|
LIABILITIES |
|
|
|
Total liabilities |
$ |
— |
|
|
$ |
— |
|
STOCKHOLDERS' EQUITY |
|
|
|
Common stock ($0.01 par); authorized shares 450,000,000; issued shares 136,861,382 and 135,758,269 on December 31, 2019 and 2018, respectively; outstanding shares 136,464,961 and 135,592,045 on December 31, 2019 and 2018, respectively |
1,369 |
|
|
1,358 |
|
Preferred stock ($0.01 par); authorized shares 50,000,000; no shares issued or outstanding on December 31, 2019 and 2018, respectively |
— |
|
|
— |
|
Additional paid-in capital |
1,696,899 |
|
|
1,674,703 |
|
Retained earnings |
103,013 |
|
|
25,523 |
|
Treasury stock, at cost; shares 396,421 and 166,224 on December 31, 2019 and 2018, respectively |
(6,483 |
) |
|
(2,920 |
) |
Accumulated other comprehensive loss |
(15,348 |
) |
|
(39,104 |
) |
Total PQ Group Holdings Inc. equity |
1,779,450 |
|
|
1,659,560 |
|
Total liabilities and equity |
$ |
1,779,450 |
|
|
$ |
1,659,560 |
|
|
|
|
|
|
| Schedule of Condensed Statements of Cash Flow |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
2019 |
|
2018 |
|
2017 |
Cash flows from operating activities: |
|
|
|
|
|
Net income |
$ |
79,539 |
|
|
$ |
58,300 |
|
|
$ |
57,603 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
Equity in net income from subsidiaries |
(97,764 |
) |
|
(77,764 |
) |
|
(66,402 |
) |
Stock compensation expense |
18,225 |
|
|
19,464 |
|
|
8,799 |
|
Net cash (used in) provided by operating activities |
— |
|
|
— |
|
|
— |
|
Cash flows from investing activities: |
|
|
|
|
|
Investment in subsidiaries |
— |
|
|
— |
|
|
(480,696 |
) |
Net cash (used in) provided by investing activities |
— |
|
|
— |
|
|
(480,696 |
) |
Cash flows from financing activities: |
|
|
|
|
|
IPO proceeds |
— |
|
|
— |
|
|
507,500 |
|
IPO costs |
— |
|
|
— |
|
|
(26,804 |
) |
Net cash (used in) provided by financing activities |
— |
|
|
— |
|
|
480,696 |
|
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
— |
|
|
— |
|
|
— |
|
Net change in cash, cash equivalents and restricted cash |
— |
|
|
— |
|
|
— |
|
Cash, cash equivalents and restricted cash at beginning of period |
— |
|
|
— |
|
|
— |
|
Cash, cash equivalents and restricted cash at end of period |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|