10 unchanged sentences
Comparison of Five-Year Cumulative Total Return
−Removed: , Peer Group, and S&P SmallCap 600 Index
−Removed: (Performance results through 12/31/2019 )
+Added: NN, Inc., Peer Group, and S&P SmallCap 600 Index
+Added: (Performance results through December 31, 2020)
+Added: 2015 2016 2017 2018 2019 2020
+Added: $ 100.00 $ 121.67 $ 178.25 $ 44.17 $ 62.43 $ 44.34
+Added: Peer Group $ 100.00 $ 117.30 $ 148.11 $ 121.38 $ 173.16 $ 198.75
S&P SmallCap 600 $ 100.00 $ 126.56 $ 143.30 $ 131.15 $ 161.03 $ 179.21
4 unchanged sentences
The following selected financial data has been derived from our audited financial statements.
−Removed: The selected financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 7 and the audited Consolidated Financial Statements, including the Notes thereto, in Item 8.
−Removed: Certain amounts in 2018 and 2017 have been revised for the correction of misstatements described in Note 2 in the Notes to Consolidated Financial Statements included in Item 8.
+Added: The selected financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7, of this Annual Report and the audited Consolidated Financial Statements, including the Notes thereto, in Part II, Item 8, of this Annual Report.
+Added: Amounts reflect the reclassification of discontinued operations, as disclosed in Note 2 of the Notes to Consolidated Financial Statements included elsewhere in this report.
Year Ended December 31,
+Added: 2020 2019 2018 2017 2016
Statement of Operations Data:
−Removed: Cost of sales (exclusive of depreciation and amortization)
+Added: Net sales $ 427,534 $ 489,514 $ 524,194 $ 523,024 $ 506,270
+Added: Cost of sales 343,594 392,482 413,394 397,025 379,933
Goodwill impairment 92,942 — 182,542 — —
1 unchanged sentence
Income (loss) from continuing operations (139,490) (30,749) (221,220) 95,949 39,997
−Removed: Income from discontinued operations, net of tax
+Added: Income (loss) from discontinued operations, net of tax 38,898 (15,992) (41,767) 66,288 (33,334)
Income (loss) from continuing operations per common share, basic $ (3.60) $ (0.75) $ (6.98) $ 3.50 $ 1.48
2 unchanged sentences
As of December 31,
+Added: 2020 2019 2018 2017 2016
Balance Sheet Data:
1 unchanged sentence
Current liabilities 103,231 139,481 145,030 108,421 140,241
+Added: Total assets 624,962 1,541,984 1,500,902 1,473,709 1,358,274
Long-term obligations 85,883 765,161 817,549 792,499 788,953
1 unchanged sentence
Stockholders’ equity 254,152 353,277 419,271 485,329 309,391
−Removed: _______________________________
−Removed: Current assets of discontinued operations were $106.7 million , and $98.9 million as of December 31, 2016 , and 2015 , respectively.
−Removed: Current liabilities of discontinued operations were $45.2 million , and $44.6 million as of December 31, 2016 , and 2015 , respectively.
−Removed: Total assets of discontinued operations were $210.7 million , and $204.4 million as of December 31, 2016 , and 2015 , respectively.
+Added: During 2020, we experienced a decline in sales volume as a result of lower demand during the COVID-19 pandemic.
+Added: We executed strategic initiatives to improve liquidity, including selling our Life Sciences business and using the proceeds to pay down debt.
+Added: We recognized goodwill impairment charges of $92.9 million in our Power Solutions business.
During 2019, we adopted new lease accounting guidance that requires operating leases to be included on the balance sheet.
−Removed: As a result of this new guidance, $65.5 million of operating lease right-of-use assets and $67.0 million of non-current operating lease liabilities are included in total assets and long-term obligations, respectively, as of December 31, 2019.
+Added: As a result of this new guidance, $45.5 million of operating lease right-of-use assets are included in total assets as of December 31, 2019.
Additionally, we issued convertible preferred stock in December 2019 and used the net cash proceeds of $95.7 million to pay down debt and to pay debt amendment costs.
−Removed: During 2018 , we recognized goodwill impairment charges of $182.5 million as described in Note 9 to the consolidated financial statements and issued shares of common stock in a public offering as described in Note 17 to the consolidated financial statements.
−Removed: Additionally, acquisitions made in 2018 and 2017 contributed $153.0 million to the increase in net sales and $10.4 million additional income from operations for the year ended December 31, 2018 , compared to the prior year.
−Removed: During 2017, we completed the sale of our global precision bearing components business (the “PBC Business”) and recorded an after-tax gain on sale of $127.7 million as described Note 3 to the consolidated financial statements.
−Removed: Also during 2017 , we acquired DRT Medical, subsequently renamed NN Life Sciences - Vandalia, LLC, which contributed $30.7 million to net sales and $1.5 million to income from operations during the year ended December 31, 2018 , and $6.7 million to net sales and $0.5 million to loss from operations during the year ended December 31, 2017 , as described in Note 5 to the consolidated financial statements.
−Removed: During 2016, we recognized an increase in net sales of $174.2 million and increase in income from operations of $38.5 million primarily due to the acquisition of our former Precision Engineered Products Group.
−Removed: During 2015, we acquired two businesses, including our former Precision Engineered Products group, which contributed $40.7 million to net sales and $5.1 million to loss from operations during the year ended December 31, 2015.
−Removed: Also during 2015, we issued shares of common shares in a public offering with net proceeds used for repayment of principal and interest on existing debt.
+Added: During 2018, we recognized goodwill impairment charges of $182.5 million and issued shares of common stock in a public offering.
+Added: During 2017, we completed the sale of our global precision bearing components business (the “PBC Business”) and recorded an after-tax gain on sale of $127.7 million.
+Added: The year ended December 31, 2016, was the first full year following the acquisition of our former Precision Engineered Products Group.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.