Mohawk Industries第一季度業(yè)績報(bào)告
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喬治亞州卡爾豪恩, April 29, 2019 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc.（NYSE：MHK）今天宣布，2019年第一季度凈收益為1.22億美元，攤薄每股收益（EPS）為1.67美元。調(diào)整后凈收益為1.54億美元，每股收益為2.13美元，不包括重組、收購和其他費(fèi)用。2019年第一季度的凈銷售額為24.4億美元，季度增長1％，按固定貨幣和天數(shù)計(jì)算增長6％。2018年第一季度凈銷售額為24.1億美元，凈收益為2.09億美元，每股收益為2.78美元，調(diào)整后凈收益為2.25億美元，每股收益為3.01美元，不包括重組、收購和其他費(fèi)用。
Mohawk Industries, Inc.主席兼首席執(zhí)行官Jeffrey S. Lorberbaum在談到第一季度業(yè)績時(shí)表示，“盡管大多數(shù)地區(qū)經(jīng)濟(jì)疲軟和美元走強(qiáng)降低了我們的業(yè)績，但我們在第一季度的業(yè)績?nèi)赃_(dá)到了我們預(yù)期的高端。?雖然美國房地產(chǎn)市場開始疲軟和高投入導(dǎo)致成本增加，但進(jìn)入第二季度后，兩者都顯示出改善的跡象。在全球范圍內(nèi)，不均衡的需求影響了交易量，增加了價(jià)格和組合壓力。我們降低了生產(chǎn)率以平衡庫存與客戶需求，并管控我們的營運(yùn)資金。我們最近在澳大利亞、新西蘭和巴西的收購項(xiàng)目正在步入正軌，我們對提升在上述地區(qū)的市場影響力和改善成本的能力持樂觀態(tài)度。”
“我們每個(gè)企業(yè)都在采取具體行動(dòng)來適應(yīng)當(dāng)前的環(huán)境。我們正在推出新產(chǎn)品以差異化我們的產(chǎn)品線并提高利潤率，提高價(jià)格以抵消更高的能源和材料成本。?我們替換了高成本資產(chǎn)，整合了低效率運(yùn)營，增強(qiáng)了制造流程并降低了管理費(fèi)用。”
本季度，我們Global Ceramic（全球瓷產(chǎn)品）部門報(bào)告銷售額增長2.5％，按固定貨幣和天數(shù)計(jì)算增長7％。該業(yè)務(wù)部門報(bào)告經(jīng)營利潤率為9％，不包括其他費(fèi)用則為10％，由于通貨膨脹、臨時(shí)停工成本以及生產(chǎn)力被營銷投資部分抵消，因此同比有所下降。在美國，我們上調(diào)了多個(gè)類別的價(jià)格，以應(yīng)對通貨膨脹和更高的運(yùn)輸成本。我們通過防滑、更加耐用和抗菌技術(shù)等獨(dú)特功能提升產(chǎn)品價(jià)值。我們正在測試快速安裝技術(shù)并開創(chuàng)了新的瓷屋頂系統(tǒng)。我們新的石英臺(tái)板工廠的啟動(dòng)正在按計(jì)劃進(jìn)行，這將對我們的石材和石英采買計(jì)劃形成補(bǔ)充。?為減少運(yùn)營費(fèi)用，我們增強(qiáng)了材質(zhì)配方，改進(jìn)了制造效率、維護(hù)成本和貨運(yùn)策略，并降低了行政和銷售費(fèi)用。在墨西哥，我們通過擴(kuò)展客戶群、加大瓷產(chǎn)品供應(yīng)和支持我們品牌的專賣店來實(shí)現(xiàn)增長。我們上調(diào)了價(jià)格，以彌補(bǔ)天然氣、電力和運(yùn)輸成本的上漲。在巴西，我們最近也上調(diào)了價(jià)格，以抵消受政府調(diào)控的天然氣成本大幅上漲。我們正在升級(jí)高端瓷產(chǎn)品組合并重新啟動(dòng)一條閑置生產(chǎn)線。市場疲軟對歐洲市場帶來更大壓力，推動(dòng)我們銷售額的是商用、戶外和瓷板產(chǎn)品以及中端較高檔產(chǎn)品。我們正在調(diào)整歐洲工廠的產(chǎn)品生產(chǎn)，并減少人員來改善我們的成本、分銷和服務(wù)。在俄羅斯，我們的銷售額有顯著增長，產(chǎn)品結(jié)構(gòu)得到改善，我們正在提高價(jià)格以彌補(bǔ)通脹。在此期間，我們完成了瓷磚地板和墻磚的擴(kuò)展以支持進(jìn)一步增長，并開始建設(shè)更多板坯生產(chǎn)和優(yōu)質(zhì)衛(wèi)生潔具的生產(chǎn)，以增加我們的產(chǎn)品種類。
本季度，我們的北美地板部門報(bào)告銷售額減少3％，按固定天數(shù)計(jì)算減少1.4％。該部門報(bào)告營業(yè)利潤率為0.1％，調(diào)整后為3.4％。如我們預(yù)期，由于銷量下降、庫存減少、高材料成本和LVT制造偏差，該部門的營業(yè)收入有所下降。隨著零售活動(dòng)的增加和住房市場的改善，進(jìn)入第二季度后，該部門的業(yè)務(wù)有所改善。我們的新ColorMax技術(shù)融合了大地色調(diào)，被全美貿(mào)易展評為最佳地毯創(chuàng)新。我們實(shí)施的地毯價(jià)格上漲因產(chǎn)品組合減少而被部分抵消。得益于新產(chǎn)品發(fā)布和渠道細(xì)分，本季度我們的商用業(yè)務(wù)實(shí)現(xiàn)了提升。近期在先進(jìn)層壓板制造技術(shù)方面的投資讓我們得以擴(kuò)大市場并提升產(chǎn)品組合。我們的LVT繼續(xù)大幅增長，產(chǎn)品種類完備，各主要品牌可提供不同功能。我們替換了高成本資產(chǎn)，并正在整合五個(gè)運(yùn)營機(jī)構(gòu)和兩處倉庫，這將減少我們的管理費(fèi)用和成本結(jié)構(gòu)。我們正在加強(qiáng)規(guī)劃策略，提高產(chǎn)量并減少工藝偏差，以促進(jìn)這種調(diào)整。
本季度，我們的Flooring Rest of the World（世界其他地區(qū)地板）業(yè)務(wù)的銷售額報(bào)告增長6％，按固定貨幣和天數(shù)計(jì)算增長16％。該業(yè)務(wù)部門報(bào)告經(jīng)營利潤率為14.5％，調(diào)整后為15.3％，原因是銷量增長和通貨膨脹率下降被價(jià)格、產(chǎn)品組合和生產(chǎn)率部分抵消。歐洲經(jīng)濟(jì)一直在放緩，給我們的收入和利潤帶來壓力。我們一直在提高特定產(chǎn)品的價(jià)格，以抵消持續(xù)通貨膨脹和貨幣變化的影響。隨著我們新的LVT、乙烯基板、層壓板和地毯塊業(yè)務(wù)的增長，該業(yè)務(wù)部門受到啟動(dòng)成本和吸收不足的影響。在層壓板方面，我們憑借獨(dú)特的技術(shù)領(lǐng)先歐洲市場，讓我們的產(chǎn)品成為木材的首選替代品。我們對歐洲的各層壓板工廠實(shí)行了專門化定位，以使其專注生產(chǎn)高端產(chǎn)品或批量產(chǎn)品，從而改善效率和成本。我們的LVT制造已大幅改善，我們正在針對各個(gè)品牌推出更加堅(jiān)硬的LVT系列。隨著產(chǎn)量的提高，我們正在改良設(shè)備以解除流程限制。我們新的俄羅斯乙烯基板材廠在數(shù)量和產(chǎn)量方面都領(lǐng)先于計(jì)劃。隨著去年的材料短缺問題得到解決和成本下降，我們的隔音產(chǎn)品業(yè)績得到改善。由于繼續(xù)加強(qiáng)指定性及交易性銷售，我們在比利時(shí)的新地毯塊工廠運(yùn)作良好。隨著經(jīng)濟(jì)和房屋銷售放緩，澳大利亞和新西蘭市場面臨壓力。我們通過價(jià)格上調(diào)以抵消增加的成本，這主要來自當(dāng)?shù)刎泿牌＼?、關(guān)閉高成本擠壓資產(chǎn)，以及從我們的美國營運(yùn)地點(diǎn)和其他來源供應(yīng)紗線。我們正在推出具有款式和性能更佳的新地毯產(chǎn)品，并增加我們的硬面系列產(chǎn)品，以擴(kuò)大我們在地板市場的份額。
我們所有的企業(yè)都在采取行動(dòng)以提高業(yè)績，重點(diǎn)關(guān)注改善LVT制造、美國地毯性能、管理陶瓷領(lǐng)域的不利因素以及提高我們新投資的利用率。在美國，地板銷售最初疲軟，最近開始得到改善。在美國之外，大多數(shù)市場出現(xiàn)疲軟，我們正在根據(jù)需要進(jìn)行調(diào)整。在整個(gè)企業(yè)范圍內(nèi)，我們正在提升產(chǎn)品、降低成本并擴(kuò)大新工廠以擴(kuò)展我們的產(chǎn)品組合。我們將繼續(xù)實(shí)現(xiàn)價(jià)格上調(diào)以抵消通脹并恢復(fù)我們的利潤率。我們的LVT銷售正在大幅增長，我們正在進(jìn)行設(shè)備改造來提高今年的產(chǎn)量和生產(chǎn)率。我們正在重組美國地毯和層壓板資產(chǎn)，以及重新調(diào)整我們的歐洲陶瓷業(yè)務(wù)，以改善成本和績效。隨著我們將收購項(xiàng)目整合到企業(yè)之中，相關(guān)工作正在帶來積極效果?？紤]到所有這些因素，我們對第二季度的每股盈利預(yù)測為2.81美元至2.91美元，這不包括任何一次性費(fèi)用。
我們正在投資于新產(chǎn)品和新地點(diǎn)，以推動(dòng)增長并加強(qiáng)組織，從而改善執(zhí)行。我們正在采取必要措施，以適應(yīng)當(dāng)前情況并實(shí)現(xiàn)長期的更大盈利能力。
關(guān)于MOHAWK INDUSTRIES
Mohawk Industries是全球領(lǐng)先的地板制造商，致力于創(chuàng)造可提升全球住宅和商業(yè)空間的優(yōu)質(zhì)產(chǎn)品。Mohawk的垂直整合生產(chǎn)和分銷流程在生產(chǎn)地毯、塊毯、瓷磚、復(fù)合地板、木質(zhì)地板、石材地板和塑膠地板方面提供了競爭優(yōu)勢。依托業(yè)內(nèi)領(lǐng)先的創(chuàng)新方式，我們的產(chǎn)品和技術(shù)令公司品牌在市場上脫穎而出，滿足各種改造和新建需求。我們公司旗下的品牌在業(yè)內(nèi)受到最廣泛的認(rèn)可，包括：American Olean、Daltile、Durkan、Eliane、Feltex、Godfrey Hirst、IVC、Karastan、Marazzi、Mohawk、Mohawk Group、Pergo、Quick-Step和Unilin。過去十年里，Mohawk已從一家美國地毯生產(chǎn)商成功轉(zhuǎn)型為全球最大的地板公司，業(yè)務(wù)遍及澳大利亞、巴西、加拿大、歐洲、印度、馬來西亞、墨西哥、新西蘭、俄羅斯和美國等地。
前面幾段陳述中的某些內(nèi)容，特別是預(yù)測未來業(yè)績、業(yè)務(wù)前景、增長、經(jīng)營策略以及類似事項(xiàng)和包括“可能”、“應(yīng)該”、“相信”、“預(yù)期”、“預(yù)測”、“估計(jì)”或類似表達(dá)詞語的內(nèi)容均構(gòu)成“前瞻性陳述”。針對以上陳述，Mohawk有權(quán)要求1995年《私人證券訴訟改革法案》中關(guān)于前瞻性陳述的安全港保護(hù)。 前瞻性陳述建立于諸多涉及風(fēng)險(xiǎn)和不確定性的假設(shè)基礎(chǔ)上，因此我們無法保證其準(zhǔn)確性。以下重要因素的改變可能導(dǎo)致未來業(yè)績發(fā)生變化：經(jīng)濟(jì)或行業(yè)狀況、競爭、原材料價(jià)格、其他投入成本的通貨膨脹和通貨緊縮、消費(fèi)市場的通貨膨脹和通貨緊縮、能源成本和供應(yīng)、資本支出的時(shí)間和水平、公司產(chǎn)品價(jià)格上漲的時(shí)間和實(shí)施、減值費(fèi)用、收購整合、國際業(yè)務(wù)、推出新產(chǎn)品、運(yùn)營合理化、稅收和稅收改革、產(chǎn)品和其他索賠、訴訟、以及Mohawk提交給美國證券交易委員會(huì)的報(bào)告和公告中提及的其他風(fēng)險(xiǎn)。
電話會(huì)議于美國東部時(shí)間2019年4月26日星期五上午11:00舉行
電話號(hào)碼為1-800-603-9255（美國/加拿大），或電話號(hào)碼為1-706-634-2294（國際/本地）。會(huì)議代碼：4699130。重播將持續(xù)到2019年5月26日，請撥打1-855-859-2056（美國/本地），或撥打1-404-537-3406（國際/本地），并輸入會(huì)議代碼4699130。
| MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES | ? | ? | ? | ? | |||
| (Unaudited) | ? | ? | ? | ? | |||
| Condensed Consolidated Statement of Operations Data | ? | Three Months Ended | |||||
| (Amounts in thousands, except per share data) | ? | March 30, 2019 | ? | March 31, 2018 | |||
| ? | ? | ? | ? | ? | |||
| Net sales | ? | $ | 2,442,490 | ? | ? | 2,412,202 | ? |
| Cost of sales | ? | ? | 1,817,563 | ? | ? | 1,707,510 | ? |
| Gross profit | ? | ? | 624,927 | ? | ? | 704,692 | ? |
| Selling, general and administrative expenses | ? | ? | 459,597 | ? | ? | 436,293 | ? |
| Operating income | ? | ? | 165,330 | ? | ? | 268,399 | ? |
| Interest expense | ? | ? | 10,473 | ? | ? | 7,528 | ? |
| Other expense, net | ? | ? | (3,736 | ) | ? | 3,998 | ? |
| Earnings before income taxes | ? | ? | 158,593 | ? | ? | 256,873 | ? |
| Income tax expense | ? | ? | 37,018 | ? | ? | 47,632 | ? |
| Net earnings including noncontrolling interest | ? | ? | 121,575 | ? | ? | 209,241 | ? |
| Net income attributable to noncontrolling interest | ? | ? | (10 | ) | ? | 475 | ? |
| Net earnings attributable to Mohawk Industries, Inc. | ? | $ | 121,585 | ? | ? | 208,766 | ? |
| ? | ? | ? | ? | ? | |||
| Basic earnings per share attributable to Mohawk Industries, Inc. | ? | ? | ? | ? | |||
| Basic earnings per share attributable to Mohawk Industries, Inc. | ? | $ | 1.68 | ? | ? | 2.80 | ? |
| Weighted-average common shares outstanding - basic | ? | ? | 72,342 | ? | ? | 74,453 | ? |
| ? | ? | ? | ? | ? | |||
| Diluted earnings per share attributable to Mohawk Industries, Inc. | ? | ? | ? | ? | |||
| Diluted earnings per share attributable to Mohawk Industries, Inc. | ? | $ | 1.67 | ? | ? | 2.78 | ? |
| Weighted-average common shares outstanding - diluted | ? | ? | 72,646 | ? | ? | 74,929 | ? |
| ? | ? | ? | ? | ? | |||
| ? | ? | ? | ? | ? | |||
| ? | ? | ? | ? | ? | |||
| Other Financial Information | ? | ? | ? | ? | |||
| (Amounts in thousands) | ? | ? | ? | ? | |||
| Depreciation and amortization | ? | $ | 137,291 | ? | ? | 122,654 | ? |
| Capital expenditures | ? | $ | 136,948 | ? | ? | 250,936 | ? |
| ? | ? | ? | ? | ? | |||
| Condensed Consolidated Balance Sheet Data | ? | ? | ? | ? | |||
| (Amounts in thousands) | ? | ? | ? | ? | |||
| ? | ? | March 30, 2019 | ? | March 31, 2018 | |||
| ASSETS | ? | ? | ? | ? | |||
| Current assets: | ? | ? | ? | ? | |||
| Cash and cash equivalents | ? | $ | 105,668 | ? | ? | 114,843 | ? |
| Receivables, net | ? | ? | 1,743,581 | ? | ? | 1,689,912 | ? |
| Inventories | ? | ? | 2,338,125 | ? | ? | 2,044,962 | ? |
| Prepaid expenses and other current assets | ? | ? | 501,591 | ? | ? | 447,322 | ? |
| Total current assets | ? | ? | 4,688,965 | ? | ? | 4,297,039 | ? |
| Property, plant and equipment, net | ? | ? | 4,674,435 | ? | ? | 4,460,793 | ? |
| Right of use operating lease assets | ? | ? | 320,800 | ? | ? | - | ? |
| Goodwill | ? | ? | 2,548,997 | ? | ? | 2,512,615 | ? |
| Intangible assets, net | ? | ? | 950,564 | ? | ? | 899,989 | ? |
| Deferred income taxes and other non-current assets | ? | ? | 421,314 | ? | ? | 389,936 | ? |
| Total assets | ? | $ | 13,605,075 | ? | ? | 12,560,372 | ? |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ? | ? | ? | ? | |||
| Current liabilities: | ? | ? | ? | ? | |||
| Current portion of long-term debt and commercial paper | ? | $ | 1,763,332 | ? | ? | 1,331,917 | ? |
| Accounts payable and accrued expenses | ? | ? | 1,571,273 | ? | ? | 1,463,993 | ? |
| Current operating lease liabilities | ? | ? | 99,642 | ? | ? | - | ? |
| Total current liabilities | ? | ? | 3,434,247 | ? | ? | 2,795,910 | ? |
| Long-term debt, less current portion | ? | ? | 1,497,975 | ? | ? | 1,585,651 | ? |
| Non-current operating lease liabilities | ? | ? | 227,595 | ? | ? | - | ? |
| Deferred income taxes and other long-term liabilities | ? | ? | 868,213 | ? | ? | 801,878 | ? |
| Total liabilities | ? | ? | 6,028,030 | ? | ? | 5,183,439 | ? |
| Redeemable noncontrolling interest | ? | ? | - | ? | ? | 30,924 | ? |
| Total stockholders' equity | ? | ? | 7,577,045 | ? | ? | 7,346,009 | ? |
| Total liabilities and stockholders' equity | ? | $ | 13,605,075 | ? | ? | 12,560,372 | ? |
| ? | ? | ? | ? | ? | |||
| Segment Information | ? | As of or for the Three Months Ended | |||||
| (Amounts in thousands) | ? | March 30, 2019 | ? | March 31, 2018 | |||
| ? | ? | ? | ? | ? | |||
| Net sales: | ? | ? | ? | ? | |||
| Global Ceramic | ? | $ | 898,352 | ? | ? | 876,548 | ? |
| Flooring NA | ? | ? | 921,980 | ? | ? | 950,358 | ? |
| Flooring ROW | ? | ? | 622,158 | ? | ? | 585,296 | ? |
| Intersegment sales | ? | ? | - | ? | ? | - | ? |
| Consolidated net sales | ? | $ | 2,442,490 | ? | ? | 2,412,202 | ? |
| ? | ? | ? | ? | ? | |||
| Operating income (loss): | ? | ? | ? | ? | |||
| Global Ceramic | ? | $ | 84,335 | ? | ? | 113,417 | ? |
| Flooring NA | ? | ? | 649 | ? | ? | 74,748 | ? |
| Flooring ROW | ? | ? | 90,431 | ? | ? | 89,060 | ? |
| Corporate and intersegment eliminations | ? | ? | (10,085 | ) | ? | (8,826 | ) |
| Consolidated operating income | ? | $ | 165,330 | ? | ? | 268,399 | ? |
| ? | ? | ? | ? | ? | |||
| Assets: | ? | ? | ? | ? | |||
| Global Ceramic | ? | $ | 5,503,807 | ? | ? | 5,029,225 | ? |
| Flooring NA | ? | ? | 4,020,336 | ? | ? | 3,847,555 | ? |
| Flooring ROW | ? | ? | 3,799,591 | ? | ? | 3,410,958 | ? |
| Corporate and intersegment eliminations | ? | ? | 281,341 | ? | ? | 272,634 | ? |
| Consolidated assets | ? | $ | 13,605,075 | ? | ? | 12,560,372 | ? |
| ? | ? | ? | ? | ? | |||
| Reconciliation of Net Earnings Attributable to Mohawk Industries, Inc. to Adjusted Net Earnings Attributable to Mohawk Industries, Inc. and Adjusted Diluted Earnings Per Share Attributable to Mohawk Industries, Inc.? ? | |||||||||||||||
| (Amounts in thousands, except per share data) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| ? | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Net earnings attributable to Mohawk Industries, Inc. | ? | $ | 121,585 | ? | ? | 208,766 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusting items: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ||
| Restructuring, acquisition and integration-related and other costs | ? | ? | 39,495 | ? | ? | 22,104 | ? | ? | ? | ? | ? | ? | ? | ||
| Acquisitions purchase accounting , including inventory step-up | ? | ? | 2,552 | ? | ? | 1,354 | ? | ? | ? | ? | ? | ? | ? | ||
| Release of indemnification asset | ? | ? | - | ? | ? | 1,749 | ? | ? | ? | ? | ? | ? | ? | ||
| Income taxes - reversal of uncertain tax position | ? | ? | - | ? | ? | (1,749 | ) | ? | ? | ? | ? | ? | ? | ||
| Income taxes | ? | ? | (9,152 | ) | ? | (6,940 | ) | ? | ? | ? | ? | ? | ? | ||
| Adjusted net earnings attributable to Mohawk Industries, Inc. | ? | $ | 154,480 | ? | ? | 225,284 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted diluted earnings per share attributable to Mohawk Industries, Inc. | ? | $ | 2.13 | ? | ? | 3.01 | ? | ? | ? | ? | ? | ? | ? | ||
| Weighted-average common shares outstanding - diluted | ? | ? | 72,646 | ? | ? | 74,929 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | |||||||||||||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Total Debt to Net Debt | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | March 30, 2019 | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Current portion of long-term debt and commercial paper | ? | $ | 1,763,332 | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||
| Long-term debt, less current portion | ? | ? | 1,497,975 | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||
| Less: Cash and cash equivalents | ? | ? | 105,668 | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||
| Net Debt | ? | $ | 3,155,639 | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Operating Income to Adjusted EBITDA | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | Trailing Twelve | |||||
| ? | ? | Three Months Ended | ? | Months Ended | |||||||||||
| ? | ? | June 30, 2018 | ? | September 29, 2018 | ? | December 31, 2018 | ? | March 30, 2019 | ? | March 30, 2019 | |||||
| Operating income | ? | $ | 326,307 | ? | ? | 287,244 | ? | ? | 213,376 | ? | ? | 165,330 | ? | 992,257 | ? |
| Other (expense) income | ? | ? | (2,090 | ) | ? | (706 | ) | ? | (504 | ) | ? | 3,736 | ? | 436 | ? |
| Net (income) loss attributable to noncontrolling interest | ? | ? | (959 | ) | ? | (1,013 | ) | ? | (704 | ) | ? | 10 | ? | (2,666 | ) |
| Depreciation and amortization | ? | ? | 127,048 | ? | ? | 132,972 | ? | ? | 139,092 | ? | ? | 137,291 | ? | 536,403 | ? |
| EBITDA | ? | ? | 450,306 | ? | ? | 418,497 | ? | ? | 351,260 | ? | ? | 306,367 | ? | 1,526,430 | ? |
| Restructuring, acquisition and integration-related and other costs | ? | ? | 16,042 | ? | ? | 19,890 | ? | ? | 20,412 | ? | ? | 39,495 | ? | 95,839 | ? |
| Acquisitions purchase accounting, including inventory step-up | ? | ? | 194 | ? | ? | 7,090 | ? | ? | 6,721 | ? | ? | 2,552 | ? | 16,557 | ? |
| Release of indemnification asset | ? | ? | - | ? | ? | - | ? | ? | 2,857 | ? | ? | - | ? | 2,857 | ? |
| Adjusted EBITDA | ? | $ | 466,542 | ? | ? | 445,477 | ? | ? | 381,250 | ? | ? | 348,414 | ? | 1,641,683 | ? |
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Net Debt to Adjusted EBITDA | ? | ? | ? | ? | ? | ? | ? | ? | ? | 1.9 | ? | ||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Net Sales to Net Sales on a Constant Exchange Rate and on Constant Shipping Days Excluding Acquisition Volume | ? | ? | ? | ? | ? | ? | ? | ? | |||||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| ? | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Net sales | ? | $ | 2,442,490 | ? | ? | 2,412,202 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustment to net sales on constant shipping days | ? | ? | 35,681 | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||
| Adjustment to net sales on a constant exchange rate | ? | ? | 73,145 | ? | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Net sales on a constant exchange rate and constant shipping days | ? | ? | 2,551,316 | ? | ? | 2,412,202 | ? | ? | ? | ? | ? | ? | ? | ||
| Less: impact of acquisition volume | ? | ? | (119,891 | ) | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Net sales on a constant exchange rate and constant shipping days excluding acquisition volume | ? | $ | 2,431,425 | ? | ? | 2,412,202 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Segment Net Sales to Segment Net Sales on a Constant Exchange Rate and? Constant Shipping Days Excluding Acquisition Volume | ? | ? | ? | ? | ? | ? | ? | ||||||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | |||||||||
| Global Ceramic | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Net sales | ? | $ | 898,352 | ? | ? | 876,548 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustment to net sales on constant shipping days | ? | ? | 11,549 | ? | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustment to segment net sales on a constant exchange rate | ? | ? | 26,880 | ? | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Segment net sales on a constant exchange rate and constant shipping days | ? | ? | 936,781 | ? | ? | 876,548 | ? | ? | ? | ? | ? | ? | ? | ||
| Less: impact of acquisition volume | ? | ? | (50,996 | ) | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Segment net sales on a constant exchange rate and constant shipping days excluding acquisition volume | ? | $ | 885,785 | ? | ? | 876,548 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Segment Net Sales to Segment Net Sales on Constant Shipping Days | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | |||||||||
| Flooring NA | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Net sales | ? | $ | 921,980 | ? | ? | 950,358 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustment to net sales on constant shipping days | ? | ? | 14,635 | ? | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Segment net sales on constant shipping days | ? | $ | 936,615 | ? | ? | 950,358 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Segment Net Sales to Segment Net Sales on a Constant Exchange Rate and? Constant Shipping Days Excluding Acquisition Volume | ? | ? | ? | ? | ? | ? | ? | ||||||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | |||||||||
| Flooring ROW | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Net sales | ? | $ | 622,158 | ? | ? | 585,296 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustment to net sales on constant shipping days | ? | ? | 9,497 | ? | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustment to segment net sales on a constant exchange rate | ? | ? | 46,265 | ? | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Segment net sales on a constant exchange rate and constant shipping days | ? | ? | 677,920 | ? | ? | 585,296 | ? | ? | ? | ? | ? | ? | ? | ||
| Less: impact of acquisition volume | ? | ? | (68,895 | ) | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Segment net sales on a constant exchange rate and constant shipping days excluding acquisition volume | ? | $ | 609,025 | ? | ? | 585,296 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Gross Profit to Adjusted Gross Profit | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| ? | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Gross Profit | ? | $ | 624,927 | ? | ? | 704,692 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustments to gross profit: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Restructuring, acquisition and integration-related and other costs | ? | ? | 35,602 | ? | ? | 14,498 | ? | ? | ? | ? | ? | ? | ? | ||
| Acquisitions purchase accounting, including inventory step-up | ? | ? | 2,552 | ? | ? | 1,354 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted gross profit | ? | $ | 663,081 | ? | ? | 720,544 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Selling, General and Administrative Expenses to Adjusted Selling, General and Administrative Expenses | ? | ? | ? | ? | ? | ? | ? | ? | |||||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| ? | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Selling, general and administrative expenses | ? | $ | 459,597 | ? | ? | 436,293 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustments to selling, general and administrative expenses: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Restructuring, acquisition and integration-related and other costs | ? | ? | (3,101 | ) | ? | (7,606 | ) | ? | ? | ? | ? | ? | ? | ||
| Adjusted selling, general and administrative expenses | ? | $ | 456,496 | ? | ? | 428,687 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Operating Income to Adjusted Operating Income | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| ? | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Operating income | ? | $ | 165,330 | ? | ? | 268,399 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustments to operating income: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Restructuring, acquisition and integration-related and other costs | ? | ? | 38,703 | ? | ? | 22,104 | ? | ? | ? | ? | ? | ? | ? | ||
| Acquisitions purchase accounting, including inventory step-up | ? | ? | 2,552 | ? | ? | 1,354 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted operating income | ? | $ | 206,585 | ? | ? | 291,857 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Segment Operating Income to Adjusted Segment Operating Income | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| Global Ceramic | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Operating income | ? | $ | 84,335 | ? | ? | 113,417 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustments to segment operating income: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Restructuring, acquisition and integration-related and other costs | ? | ? | 5,263 | ? | ? | 3,561 | ? | ? | ? | ? | ? | ? | ? | ||
| Acquisitions purchase accounting, including inventory step-up | ? | ? | 204 | ? | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted segment operating income | ? | $ | 89,802 | ? | ? | 116,978 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Segment Operating Income to Adjusted Segment Operating Income | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| Flooring NA | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Operating income | ? | $ | 649 | ? | ? | 74,748 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustments to segment operating income: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Restructuring, acquisition and integration-related and other costs | ? | ? | 30,599 | ? | ? | 16,204 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted segment operating income | ? | $ | 31,248 | ? | ? | 90,952 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Segment Operating Income to Adjusted Segment Operating Income and Adjusted Segment Operating Income on a Constant Exchange Rate | ? | ? | ? | ? | ? | ? | |||||||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| Flooring ROW | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Operating income | ? | $ | 90,431 | ? | ? | 89,060 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustments to segment operating income: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Restructuring, acquisition and integration-related and other costs | ? | ? | 2,561 | ? | ? | 2,094 | ? | ? | ? | ? | ? | ? | ? | ||
| Acquisitions purchase accounting, including inventory step-up | ? | ? | 2,348 | ? | ? | 1,354 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted segment operating income | ? | ? | 95,340 | ? | ? | 92,508 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjustment to operating income on a constant exchange rate | ? | ? | 7,755 | ? | ? | - | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted segment operating income on a constant exchange rate | ? | $ | 103,095 | ? | ? | 92,508 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Earnings including Noncontrolling Interests Before Income Taxes to Adjusted Earnings Including Noncontrolling Interests Before Income Taxes | ? | ? | ? | ? | ? | ? | |||||||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| ? | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Earnings before income taxes | ? | $ | 158,593 | ? | ? | 256,873 | ? | ? | ? | ? | ? | ? | ? | ||
| Noncontrolling interests | ? | ? | 10 | ? | ? | (475 | ) | ? | ? | ? | ? | ? | ? | ||
| Adjustments to earnings including noncontrolling interests before income taxes: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Restructuring, acquisition and integration-related and other costs | ? | ? | 39,495 | ? | ? | 22,104 | ? | ? | ? | ? | ? | ? | ? | ||
| Acquisitions purchase accounting, including inventory step-up | ? | ? | 2,552 | ? | ? | 1,354 | ? | ? | ? | ? | ? | ? | ? | ||
| Release of indemnification asset | ? | ? | - | ? | ? | 1,749 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted earnings including noncontrolling interests before income taxes | ? | $ | 200,650 | ? | ? | 281,605 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Reconciliation of Income Tax Expense to Adjusted Income Tax Expense | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| (Amounts in thousands) | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| ? | ? | Three Months Ended | ? | ? | ? | ? | ? | ? | |||||||
| ? | ? | March 30, 2019 | ? | March 31, 2018 | ? | ? | ? | ? | ? | ? | |||||
| Income tax expense | ? | $ | 37,018 | ? | ? | 47,632 | ? | ? | ? | ? | ? | ? | ? | ||
| Income taxes - reversal of uncertain tax position | ? | ? | - | ? | ? | 1,749 | ? | ? | ? | ? | ? | ? | ? | ||
| Income tax effect of adjusting items | ? | ? | 9,152 | ? | ? | 6,940 | ? | ? | ? | ? | ? | ? | ? | ||
| Adjusted income tax expense | ? | $ | 46,170 | ? | ? | 56,321 | ? | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||||
| Adjusted income tax rate | ? | ? | 23.0 | % | ? | 20.0 | % | ? | ? | ? | ? | ? | ? | ||
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |||
公司對其依照美國公認(rèn)會(huì)計(jì)原則（GAAP）編制和列報(bào)的簡明合并財(cái)務(wù)報(bào)表以某些非GAAP財(cái)務(wù)指標(biāo)進(jìn)行補(bǔ)充。根據(jù)美國證券交易委員會(huì)的規(guī)定，上表顯示了公司非GAAP財(cái)務(wù)指標(biāo)與最直接可比的美國GAAP指標(biāo)的對賬。除了可比美國公認(rèn)會(huì)計(jì)準(zhǔn)則指標(biāo)外，還應(yīng)考慮上述每項(xiàng)非公認(rèn)會(huì)計(jì)準(zhǔn)則指標(biāo)，且上述指標(biāo)與其他公司報(bào)告中類似名稱的指標(biāo)或不具有可比性。公司認(rèn)為，如果與相應(yīng)的美國公認(rèn)會(huì)計(jì)準(zhǔn)則指標(biāo)相結(jié)合，則這些非GAAP指標(biāo)可在以下方面幫助投資者：非GAAP收入指標(biāo)有助于識(shí)別增長趨勢以及與前期和未來時(shí)期進(jìn)行收入對比；非GAAP盈利能力有助于了解公司業(yè)務(wù)的長期盈利趨勢以及與前期和未來期間的利潤比較。
公司在其非GAAP收入指標(biāo)中排除了某些項(xiàng)目，因?yàn)檫@些項(xiàng)目在不同時(shí)期之間會(huì)發(fā)生很大的變化，并且可能掩蓋潛在的業(yè)務(wù)趨勢。未計(jì)入公司非GAAP收入指標(biāo)中的項(xiàng)目包括：外幣交易和轉(zhuǎn)換以及收購的影響。
公司在非GAAP盈利指標(biāo)中排除了某些項(xiàng)目，因?yàn)檫@些項(xiàng)目可能與公司的核心經(jīng)營業(yè)績無關(guān)且不具有指示性。未計(jì)入公司非GAAP盈利指標(biāo)的項(xiàng)目包括：重組、收購和整合等及其他成本、收購采購會(huì)計(jì)法及包括庫存增加、補(bǔ)償資產(chǎn)的釋放以及不確定稅務(wù)狀況的逆轉(zhuǎn)。
?聯(lián)系人：Glenn Landau，首席財(cái)務(wù)官，電話：（706）624-2025
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