VERSO CORPORATION VRS Balance Sheet

Verso corporation (VRS)

Balance Sheet / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Dec'10
ASSETS
Current assets:
Cash and cash equivalents
276	42	6	6	6	26	7	7	7	7	6	-	-	6	26	40	-	10	14	14	6	11	6	4	11	9	10	12	61	10	21	56	94	51	56	152
Accounts receivable, net
143	155	202	188	201	197	255	215	222	208	216	-	-	194	205	217	-	257	247	280	88	96	93	93	104	107	102	98	100	114	112	119	128	124	135	107
Inventories
330	395	416	459	473	398	377	373	398	385	399	-	-	445	498	485	-	540	559	536	110	129	144	154	137	138	152	160	131	140	170	192	166	199	195	142
Assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	61	0	0	0	0	0	0	0	24	-	-	-	-	-	-	-
Prepaid expenses and other assets
5	7	7	7	9	12	11	12	12	14	14	-	-	20	27	31	-	34	18	30	11	18	12	12	20	9	3	7	4	8	3	6	3	7	5	3
Total current assets
754	599	631	660	689	633	650	607	639	614	635	-	-	665	756	773	-	841	838	860	276	255	257	265	274	265	268	279	322	273	306	375	393	383	392	406
Property, plant and equipment, net
739	945	940	930	1,007	1,016	1,026	1,047	1,047	1,062	1,074	-	-	1,132	1,668	1,694	-	1,931	2,006	2,053	531	687	703	722	742	741	755	761	793	818	897	907	934	949	951	972
Deferred tax assets
92	118	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reforestation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12	12	13	13	13	13	13
Intangibles and other assets, net
46	59	64	69	70	50	53	55	55	56	53	-	-	58	99	92	-	129	125	114	48	76	76	75	81	87	90	90	93	87	96	78	80	85	94	104
Goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18	18	18
Total assets
1,631	1,721	1,635	1,659	1,766	1,699	1,729	1,709	1,741	1,732	1,762	-	-	1,855	2,523	2,559	-	2,901	2,969	3,027	855	1,019	1,037	1,062	1,098	1,094	1,114	1,131	1,208	1,192	1,313	1,375	1,421	1,450	1,471	1,516
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
127	188	207	210	210	215	210	216	194	176	157	-	-	105	109	88	-	170	192	206	63	88	80	95	88	82	80	93	92	93	107	112	109	128	126	123
Accrued and other liabilities
82	103	101	108	102	118	122	107	115	129	120	-	-	148	136	156	-	239	290	243	205	117	115	73	122	84	113	77	120	100	96	79	140	90	108	119
Current maturities of long-term debt and finance leases
1	2	1	1	-	0	0	18	18	60	18	-	-	28	454	420	-	72	22	13	30	40	33	13	13	13	0	0	8	89	87	86	-	-	-	-
Liabilities related to assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2	-	-	-	0	0	0	0	0	-	-	-	-	-	-	-
Total current liabilities
210	293	309	319	312	333	332	341	327	365	295	-	-	281	699	664	-	481	504	462	300	246	229	182	224	180	194	170	220	283	291	277	250	218	234	243
Long-term debt and finance leases
4	5	24	50	45	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term debt
-	-	-	-	-	-	108	144	185	130	246	-	-	265	-	0	-	2,838	2,771	2,787	1,274	1,306	1,302	1,332	1,235	1,257	1,256	1,259	1,248	1,198	1,203	1,259	1,262	1,260	1,257	1,228
Pension benefit obligation
321	369	393	411	420	428	417	440	449	457	470	-	-	491	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other long-term liabilities
34	41	42	44	45	32	34	34	34	34	46	-	-	48	608	622	-	560	563	588	65	50	54	55	56	65	64	60	61	55	60	61	62	47	51	50
Liabilities subject to compromise
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,518	2,544	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities
569	708	768	824	822	793	891	959	995	986	1,057	-	-	1,085	3,825	3,830	-	3,879	3,838	3,837	1,639	1,604	1,586	1,570	1,515	1,503	1,515	1,490	1,530	1,536	1,555	1,598	1,575	1,526	1,544	1,522
Commitments and contingencies (Note 11)
-	-	-	-	-	-	0	0	0	-	0	-	-	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Equity:
Preferred stock -- par value $0.01 (50,000,000 shares authorized, no shares issued)
0	0	0	0	0	0	0	0	0	0	0	-	-	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common stock -- par value $0.01 (210,000,000 Class A shares authorized with 34,949,430 shares issued and 34,704,367 outstanding on December 31, 2019 and 35,766,353 shares issued and 35,049,894 outstanding on March 31, 2020; 40,000,000 Class B shares authorized with no shares issued and outstanding on December 31, 2019 and March 31, 2020)
0	0	0	0	0	0	0	0	0	0	0	-	-	0	1	1	-	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Treasury stock -- at cost (245,063 shares on December 31, 2019 and 716,549 shares on March 31, 2020)
12	5	5	5	2	2	0	0	0	0	0	-	-	0	1	1	-	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Paid-in-capital
700	698	696	694	688	686	682	680	677	676	676	-	-	675	322	321	-	320	319	319	222	222	221	221	220	220	220	219	219	218	218	217	216	215	215	214
Retained earnings
252	198	56	26	138	102	16	-70	-71	-62	-98	-	-	-32	-1,523	-1,490	-	-1,273	-1,162	-1,102	-980	-796	-760	-717	-627	-607	-597	-554	-516	-541	-436	-416	-342	-274	-274	-205
Accumulated other comprehensive income
122	122	120	120	120	120	140	140	140	132	127	-	-	127	-101	-102	-	-25	-26	-27	-27	-10	-11	-11	-11	-23	-23	-24	-25	-22	-23	-24	-28	-18	-14	-16
Stockholders' Equity Attributable to Parent
1,062	1,013	867	835	944	906	838	750	746	746	705	-	-	770	-1,302	-1,271	-	-978	-869	-810	-784	-584	-549	-507	-417	-409	-400	-358	-321	-344	-241	-223	-153	-76	-73	-6
Total liabilities and equity
1,631	1,721	1,635	1,659	1,766	1,699	1,729	1,709	1,741	1,732	1,762	-	-	1,855	2,523	2,559	-	2,901	2,969	3,027	855	1,019	1,037	1,062	1,098	1,094	1,114	1,131	1,208	1,192	1,313	1,375	1,421	1,450	1,471	1,516
Accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8	-	15	13	12
Accounts payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	1	0
Predecessor
Cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	226	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	484	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	751	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property, Plant and Equipment, Net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,857	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible Assets Net Excluding Goodwill And Other Assets Noncurrent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	102	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,710	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	113	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued Liabilities, Current
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	267	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term Debt, Current Maturities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,879	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,259	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term Debt, Excluding Current Maturities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Defined Benefit Pension Plan, Liabilities, Noncurrent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	528	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities, Other than Long-term Debt, Noncurrent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	106	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,893	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commitments and contingencies (Note 18)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Treasury stock -- at cost (241,289 shares on December 31, 2015 and no shares on December 31, 2016)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Paid-in-capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	321	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retained deficit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,402	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accumulated other comprehensive (loss) income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-102	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,183	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities and equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,710	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Successor
Cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	6	7	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable, net
-	-	-	-	-	-	-	-	-	-	-	198	199	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories, net
-	-	-	-	-	-	-	-	-	-	-	408	462	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
-	-	-	-	-	-	-	-	-	-	-	16	18	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current assets
-	-	-	-	-	-	-	-	-	-	-	628	686	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property, plant, and equipment, net
-	-	-	-	-	-	-	-	-	-	-	1,092	1,107	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangibles and other assets, net
-	-	-	-	-	-	-	-	-	-	-	54	56	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total assets
-	-	-	-	-	-	-	-	-	-	-	1,774	1,849	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-	-	-	-	-	-	-	-	-	-	-	131	118	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	112	120	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current maturities of long-term debt
-	-	-	-	-	-	-	-	-	-	-	18	18	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current liabilities
-	-	-	-	-	-	-	-	-	-	-	261	256	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term debt
-	-	-	-	-	-	-	-	-	-	-	283	311	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Defined Benefit Pension Plan, Liabilities, Noncurrent
-	-	-	-	-	-	-	-	-	-	-	482	487	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	47	46	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities
-	-	-	-	-	-	-	-	-	-	-	1,073	1,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Treasury stock -- at cost (no shares on December 31, 2016 or March 31, 2017)
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Paid-in-capital
-	-	-	-	-	-	-	-	-	-	-	676	675	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retained deficit
-	-	-	-	-	-	-	-	-	-	-	-102	-53	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accumulated other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	127	127	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total equity
-	-	-	-	-	-	-	-	-	-	-	701	749	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities and equity
-	-	-	-	-	-	-	-	-	-	-	1,774	1,849	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-