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VERITIV CORPORATION001-3647946-3234977(Commission File Number)(IRS Employer Identification No.)1000 Abernathy Road NEBuilding 400, Suite 1700Atlanta, Georgia(Address of principal executive offices)(Zip Code)Exhibit No.Exhibit DescriptionPress Release of Veritiv Corporation issued February 27, 2020.Additional Information of Veritiv Corporation issued February 27, 2020.Cover Page Interactive Data File (embedded within the Inline XBRL document)SIGNATURESDated:February 27, 2020/s/ Mark W. HianikMark W. HianikSenior Vice President, General Counsel & Corporate SecretaryFinancial StatementsVERITIV
CORPORATIONCONSOLIDATED
STATEMENTS OF OPERATIONS(in
millions, except per share data, unaudited)Three
Months Ended
December 31,Year
Ended
December 31,20192018Net
salesCost
of products sold (exclusive of depreciation and amortization shown separately below)Distribution
expensesSelling
and administrative expensesDepreciation
and amortizationIntegration
and acquisition expensesRestructuring
charges, netOperating
income (loss)Interest
expense, netOther
(income) expense, netIncome
(loss) before income taxesIncome
tax expense (benefit)Net
income (loss)Earnings
(loss) per share:Basic
earnings (loss) per shareDiluted
earnings (loss) per shareWeighted-average
shares outstanding:BasicDilutedCONSOLIDATED
BALANCE SHEETS(dollars
in millions, except par value)December
31, 2019December
31, 2018AssetsCurrent
assets:CashAccounts
receivable, less allowances of $43.8 and $62.0, respectivelyRelated
party receivableInventoriesOther
current assetsTotal
current assetsProperty
and equipment (net of accumulated depreciation and amortization of $342.6 and $320.7, respectively)GoodwillOther
intangibles, netDeferred
income tax assetsOther
non-current assetsTotal
assetsLiabilities
and shareholders' equityCurrent
liabilities:Accounts
payableRelated
party payableAccrued
payroll and benefitsOther
accrued liabilitiesCurrent
portion of debtFinancing
obligations, current portion—Total
current liabilitiesLong-term
debt, net of current portionFinancing
obligations, net of current portionDefined
benefit pension obligationsOther
non-current liabilitiesTotal
liabilitiesCommitments
and contingenciesShareholders'
equity:Preferred
stock, $0.01 par value, 10.0 million shares authorized, none issuedCommon
stock, $0.01 par value, 100.0 million shares authorized; shares issued - 16.4 million and 16.2 million, respectively; shares
outstanding - 16.1 million and 15.9 million, respectivelyAdditional
paid-in capitalAccumulated
(deficit) earningsAccumulated
other comprehensive lossTreasury
stock at cost - 0.3 million shares in 2019 and 2018Total
shareholders' equityTotal
liabilities and shareholders' equityCONSOLIDATED STATEMENTS OF CASH FLOWSYear
Ended December 31,Operating
activitiesAmortization
of deferred financing feesNet
losses (gains) on dispositions of property and equipmentGoodwill
and long-lived asset impairment chargesProvision
for allowance for doubtful accountsDeferred
income tax (benefit) provisionStock-based
compensationOther
non-cash items, netChanges
in operating assets and liabilitiesAccounts
receivable and related party receivableAccounts
payable and related party payableOtherNet
cash provided by (used for) operating activitiesInvesting
activitiesProperty
and equipment additionsProceeds
from asset salesNet
cash provided by (used for) investing activitiesFinancing
activitiesChange
in book overdraftsBorrowings
of long-term debtRepayments
of long-term debtPayments
under right-of-use finance leases and capital leases, respectivelyPayments
under financing obligations (including obligations to related party of $0.0 and $8.6, respectively)Payments
under Tax Receivable AgreementPayments
under other contingent considerationNet
cash provided by (used for) financing activitiesEffect
of exchange rate changes on cashNet
change in cashCash
at beginning of periodCash
at end of periodSupplemental
cash flow informationCash
paid for income taxes, net of refundsCash
paid for interestNon-cash
investing and financing activitiesNon-cash
additions to property and equipment for right-of-use finance leases and capital leases, respectivelyNon-cash
additions to other non-current assets for right-of-use operating leasesNET INCOME (LOSS) TO ADJUSTED EBITDA; ADJUSTED EBITDA MARGINThree
Months Ended
December 31,Year
Ended
December 31,EBITDALIFO
reserve (decrease) increaseNon-restructuring
asset impairment chargesNon-restructuring
severance chargesNon-restructuring
pension charges, netFair
value adjustment on Tax Receivable Agreement contingent liabilityFair
value adjustment on contingent consideration liabilityEscheat
audit contingent liabilityAdjusted
EBITDAAdjusted
EBITDA as a % of net sales2.6%2.0%2.1%PK ! 82 2 docProps/app.xml
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