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SCHEDULE I - Evoqua Water Technologies Corp.
 12 Months Ended
Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
SCHEDULE I-Evoqua Water Technologies Corp.
(Parent company only)
Condensed Consolidated Balance Sheets
(In thousands)
 
September 30, 2019
 
September 30, 2018
ASSETS
 
 
 
Current assets
$
335

 
$
129

Cash and cash equivalents
121

 
76

Prepaid and other current assets
214

 
53

Investment in affiliate
385,175

 
376,555

Total assets
$
385,510

 
$
376,684

LIABILITIES AND EQUITY
 
 
 
Due to affiliates
9,747

 
8,812

Total liabilities
9,747

 
8,812

 
 
 
 
Common stock, par value $0.01: authorized 1,000,000 shares; issued 116,008 shares, outstanding 114,344 at September 30, 2019; issued 115,016, outstanding 113,929 shares at September 30, 2018
1,154

 
1,145

Treasury stock: 1,664 shares at September 30, 2019 and 1,087 shares at September 30, 2018
(2,837
)
 
(2,837
)
Additional paid‑in capital
552,422

 
533,435

Retained deficit
(174,976
)
 
(163,871
)
Total shareholders’ equity
375,763

 
367,872

Total liabilities and shareholder’s equity
$
385,510

 
$
376,684

SCHEDULE I-Evoqua Water Technologies Corp.
(Parent company only)
Condensed Statements of Operations
(In thousands)
 
Year Ended September 30,
 
2019
 
2018
 
2017
Other operating income
$
73

 
$
78

 
$
29

General and administrative expense
(303
)
 
(2,142
)
 
—

Net (loss) income of subsidiaries
(9,293
)
 
8,199

 
2,134

(Loss) income before taxes
(9,523
)
 
6,135

 
2,163

Benefit for income taxes
—

 
—

 
—

Net (loss) income
$
(9,523
)
 
$
6,135

 
$
2,163

SCHEDULE 1-Evoqua Water Technologies Corp.
Condensed Statements of Changes in Cash Flows
(Parent company only)
(In thousands)
 
Year Ended September 30,
 
2019
 
2018
 
2017
Operating activities
 
 
 
 
 
Net income
$
(9,523
)
 
$
6,135

 
$
2,163

Adjustments to reconcile net income to net cash used in operating activities
 
 
 
 
 
Net income of subsidiaries
9,293

 
(8,199
)
 
(2,134
)
Changes in assets and liabilities
 
 
 
 
 
Due to affiliates
1,343

 
8,812

 
—

Accrued expenses
—

 
(61
)
 
61

Prepaids and other current assets
(161
)
 
—

 
256

New cash provided by operating activities
952

 
6,687

 
346

Investing activities
 
 
 
 
 
Contributed capital
—

 
(140,999
)
 
—

Net cash used in investing activities
—

 
(140,999
)
 
—

Financing activities
 
 
 
 
 
Proceeds from issuance of common stock
363

 
137,605

 
5,521

Stock repurchases
—

 
(230
)
 
(1,474
)
Taxes paid related to net share settlements of share-based compensation awards
(1,270
)
 
(8,807
)
 
—

Net cash provided by financing activities
(907
)
 
128,568

 
4,047

Change in cash and cash equivalents
45

 
(5,744
)
 
4,393

Cash and cash equivalents
 
 
 
 
 
Beginning of period
76

 
5,820

 
1,427

End of period
$
121

 
$
76

 
$
5,820

SCHEDULE I-Evoqua Water Technologies Corp.
(Parent company only)
Notes to Financial Statements
(In thousands)
1. Basis of Presentation
Basis of Presentation
In the parent‑company‑only financial statements, the Company’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries. The Company’s share of net income (loss) of its consolidated subsidiaries is included in consolidated income (loss) using the equity method. The parent‑company‑only financial statements should be read in conjunction with the Company’s consolidated financial statements.
2. Guarantees and Restrictions
As of September 30, 2019, EWT Holdings III, Corp., a subsidiary of the Company, had $928,753 collectively of debt outstanding under the First Lien Term Loan. Under the terms of the credit agreements governing the Company’s senior secured credit facilities, EWT Holdings II, Corp. has guaranteed the payment of all principal and interest. In the event of a default under our senior secured credit facilities, certain of the Company’s subsidiaries will be directly liable to the debt holders. As of September 30, 2019, the Term Loan Facility had a maturity date of December 20, 2024. The credit agreements governing the Company’s senior secured credit facilities also include restrictions on the ability of the Company and its subsidiaries to (i) incur additional indebtedness and liens in connection therewith; (ii) pay dividends and make certain other restricted payments; (iii) effect mergers or consolidations; (iv) enter into transactions with affiliates; (v) sell or dispose of property or assets; and (vi) engage in unrelated lines of business.
3. Dividends from Subsidiaries
There were no cash dividends paid to Evoqua Water Technologies Corp. from the Company’s consolidated subsidiaries of each of the periods ended September 30, 2019, 2018 and 2017.