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Materion Corp (MTRN) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Materion Corp

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CIK: 1104657 Ticker: MTRN
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Materion Corporation Reports Record Fourth Quarter and Full-Year 2021 Financial Results and Provides 2022 Guidance

MAYFIELD HEIGHTS, Ohio - (BUSINESS WIRE) – February 17, 2022 - Materion Corporation (NYSE: MTRN) today reported fourth quarter and full-year 2021 financial results, provided 2022 earnings guidance, and shared an update on key strategic initiatives.

Fourth Quarter 2021 Highlights

•Net sales were $397.2 million; value-added sales increased 27% year over year to a record $237.4 million

•Operating profit was $15.5 million; adjusted earnings before interest and taxes (EBIT) was a record at $28.1 million, or 11.8% of value-added sales, a 180-basis point margin expansion year over year

•Net income of $0.95 per share, diluted; adjusted earnings per share of $1.03, up 47% year over year

Full Year 2021 Highlights

•Net sales were $1.5 billion; value-added sales were a record $859.7 million, up 29% from the prior year

•Operating profit was $77.1 million; record adjusted EBIT of $99.4 million, an increase of 79% over prior year

•Net income of $3.50 per share, diluted; record adjusted earnings per share of $3.81, up 88% from prior year

•Completed transformational acquisition of HCS-Electronic Materials, largest in company’s history

•Completed construction of customer funded Precision Clad Strip facility positioning for step-change growth in 2022

“Our team continues to raise the bar for outstanding performance, meeting continued strong end market demand from our customers while also delivering the substantial benefits of our organic and inorganic growth initiatives,” Jugal Vijayvargiya, Materion President and Chief Executive
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The following information was filed by Materion Corp (MTRN) on Thursday, February 17, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Materion Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Materion Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parentheticals)
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Details)
Accumulated Other Comprehensive Income (Tables)
Acquisition
Acquisition (Tables)
Acquisition - Additional Information (Details)
Acquisition - Finite-Lived And Indefinite-Lived Intangibles Assets Acquired As Part Of Business Combinations (Details)
Acquisition - Pro Forma Information (Details)
Acquisition - Schedule Of Business Acquisitions, By Acquisition (Details)
Contingencies And Commitments
Contingencies And Commitments (Tables)
Contingencies And Commitments - Additional Information (Details)
Contingencies And Commitments - Schedule Of Asset Retirement Obligations (Details)
Contingencies And Commitments - Undiscounted Reserve (Details)
Customer Prepayments
Customer Prepayments - Additional Information (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Maturities On Long-Term Debt Instruments (Details)
Debt - Summary Of Long-Term Debt (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Computation Of Basic And Diluted Net Earnings Per Share (Details)
Fair Value Information And Derivative Financial Instruments
Fair Value Information And Derivative Financial Instruments (Tables)
Fair Value Information And Derivative Financial Instruments - Additional Information (Details)
Fair Value Information And Derivative Financial Instruments - Derivative Instruments, Gain (Loss) (Details)
Fair Value Information And Derivative Financial Instruments - Derivatives Not Designated As Hedging Instruments (Details)
Fair Value Information And Derivative Financial Instruments - Summary Of Fair Value Information And Derivative Financial Instruments (Details)
Fair Value Information And Derivative Financial Instruments - Summary Of The Notional Amount And The Fair Value Of The Company's Outstanding Derivatives (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Income Tax Expenses Benefit (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits (Details)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Tables)
Intangible Assets And Goodwill - Additional Information (Details)
Intangible Assets And Goodwill - Finite-Lived Intangible Assets Amortization Expense (Details)
Intangible Assets And Goodwill - Schedule Of Goodwill (Details)
Intangible Assets And Goodwill - Summary Of Cost, Accumulated Amortization And Net Book Value Of Intangible Assets (Details)
Interest Expense-Net
Interest Expense-Net (Tables)
Interest Expense-Net - Additional Information (Details)
Interest Expense-Net - Summary Of Interest Incurred, Capitalized And Paid (Details)
Inventories
Inventories (Tables)
Inventories - Additional Details (Details)
Inventories - Summary Of Inventories (Details)
Leasing Arrangements
Leasing Arrangements (Tables)
Leasing Arrangements - Additional Information (Details)
Leasing Arrangements - Future Estimated Minimum Payments Under Finance Leases And Non-Cancelable Operating Leases (Details)
Leasing Arrangements - Lease Cost (Details)
Leasing Arrangements - Schedule Of Supplemental Balance Sheet Information Related To Leases (Details)
Leasing Arrangements - Schedule Of Supplemental Cash Flow Information Related To Leases (Details)
Other-Net
Other-Net (Tables)
Other-Net - Summary Of Other-Net Expense (Details)
Pensions And Other Post-Employment Benefits
Pensions And Other Post-Employment Benefits (Tables)
Pensions And Other Post-Employment Benefits - Additional Information (Details)
Pensions And Other Post-Employment Benefits - Assumed Health Care Trend Rates (Details)
Pensions And Other Post-Employment Benefits - Estimated Future Benefits Payments (Details)
Pensions And Other Post-Employment Benefits - Reconciliation Of The Benefit Obligations And Plan Assets (Details)
Pensions And Other Post-Employment Benefits - Schedule Of Accumulated And Projected Benefit Obligations (Details)
Pensions And Other Post-Employment Benefits - Schedule Of Amounts In Accumulated Other Comprehensive Income (Loss) (Details)
Pensions And Other Post-Employment Benefits - Schedule Of Net Benefit Costs (Details)
Pensions And Other Post-Employment Benefits - Summary Of Cumulative Net Gain (Loss) By Component, Net Of Tax, Within Other Comprehensive Income (Details)
Pensions And Other Post-Employment Benefits - Summary Of Fair Values Of The Company's Defined Benefit Pension Plan Assets (Details)
Pensions And Other Post-Employment Benefits - Summary Of Key Valuation Assumptions (Details)
Property, Plant, And Equipment
Property, Plant, And Equipment (Tables)
Property, Plant, And Equipment - Additional Information (Details)
Property, Plant, And Equipment - Summary Of Property, Plant And Equipment (Details)
Restructuring
Restructuring (Details)
Restructuring (Tables)
Restructuring - Additional Information (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Contract With Customer (Details)
Segment Reporting And Geographic Information
Segment Reporting And Geographic Information (Tables)
Segment Reporting And Geographic Information - Additional Information (Details)
Segment Reporting And Geographic Information - Disaggregation Of Revenue By Segment (Details)
Segment Reporting And Geographic Information - Reconciliation Of Total Segment Operating Profit (Details)
Segment Reporting And Geographic Information - Reportable Segments (Details)
Segment Reporting And Geographic Information - Sales And Long-Lived Assets Attributed To Countries Based Upon The Location Of Customers (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Accounts Receivable (Details)
Significant Accounting Policies - Advertising (Details)
Significant Accounting Policies - Mineral Resources And Mine Development (Details)
Significant Accounting Policies - Organization (Details)
Significant Accounting Policies - Property Plant Equipment (Details)
Significant Accounting Policies - Unearned Income (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Sars/Stock Options Nonvested Share Activity (Details)
Stock-Based Compensation - Sars/Stock Options Roll Forward (Details)
Stock-Based Compensation - Sars/Stock Options, Valuation Assumptions (Details)
Stock-Based Compensation - Schedule Of Share-Based Compensation, Performance Based Restricted Stock Unit Activity (Details)
Stock-Based Compensation - Summary Of Restricted Stock Activity (Details)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (Details)
Ticker: MTRN
CIK: 1104657
Form Type: 10-K Annual Report
Accession Number: 0001104657-22-000021
Submitted to the SEC: Thu Feb 17 2022 4:28:32 PM EST
Accepted by the SEC: Thu Feb 17 2022
Period: Friday, December 31, 2021
Industry: Metal Forgings And Stampings

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