NN INC
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 12, 2024
NNBR$3.04-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations and Comprehensive Income (Loss)
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands, except per share data) | 2023 | 2022 | 2021 |
| Net sales | $489,270 | $498,738 | $477,584 |
| Cost of sales (exclusive of depreciation and amortization shown separately below) | 419,175 | 421,105 | 389,995 |
| Selling, general, and administrative expense | 47,436 | 49,635 | 51,489 |
| Depreciation and amortization | 46,120 | 47,231 | 46,195 |
| Other operating expense (income), net | (1,657) | 1,859 | (1,091) |
| Loss from operations | (21,804) | (21,092) | (9,004) |
| Interest expense | 21,137 | 15,041 | 12,664 |
| Loss on extinguishment of debt and write-off of debt issuance costs | — | — | 2,390 |
| Derivative payments on interest rate swap | — | — | 1,717 |
| Loss on interest rate swap | — | — | 2,033 |
| Other expense (income), net | 10,730 | (5,064) | (5,366) |
| Loss from continuing operations before benefit (provision) for income taxes and share of net income from joint venture | (53,671) | (31,069) | (22,442) |
| Benefit (provision) for income taxes | (2,285) | (1,621) | 1,756 |
| Share of net income from joint venture | 5,806 | 6,592 | 6,261 |
| Loss from continuing operations | (50,150) | (26,098) | (14,425) |
| Income from discontinued operations, net of tax (Note 2) | — | — | 1,200 |
| Net loss | $(50,150) | $(26,098) | $(13,225) |
| Other comprehensive income (loss): | |||
| Foreign currency translation gain (loss) | $1,410 | $(8,156) | $(1,135) |
| Interest rate swap: | |||
| Change in fair value, net of tax | (230) | 3,358 | 59 |
| Reclassification adjustments included in net loss, net of tax | (1,815) | (420) | 2,906 |
| Other comprehensive income (loss) | $(635) | $(5,218) | $1,830 |
| Comprehensive loss | $(50,785) | $(31,316) | $(11,395) |
| Basic and diluted net loss per common share: | |||
| Loss from continuing operations per common share | $(1.35) | $(0.83) | $(0.82) |
| Income from discontinued operations per common share | $— | $— | $0.03 |
| Basic and diluted net loss per common share | $(1.35) | $(0.83) | $(0.79) |
| Shares used to calculate basic and diluted net loss per share | 46,738 | 44,680 | 44,011 |
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