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SCHEDULE I - Evoqua Water Technologies Corp.
 12 Months Ended
Sep. 30, 2020
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, 2020
 
September 30, 2019
ASSETS
 
 
 
Current assets
$
10,871

 
$
335

Due from affiliates
5,821

 
—

Cash and cash equivalents
4,972

 
121

Prepaid and other current assets
78

 
214

Investment in affiliate
489,745

 
385,175

Total assets
$
500,616

 
$
385,510

LIABILITIES AND EQUITY
 
 
 
Due to affiliates
—

 
9,747

Total liabilities
$
—

 
$
9,747

 
 
 
 
Common stock, par value $0.01: authorized 1,000,000 shares; issued 119,486 shares, outstanding 117,291 at September 30, 2020; issued 116,008, outstanding 114,344 shares at September 30, 2019
1,189

 
1,154

Treasury stock: 2,195 shares at September 30, 2020 and 1,664 shares at September 30, 2019
(2,837
)
 
(2,837
)
Additional paid‑in capital
564,928

 
552,422

Retained deficit
(62,664
)
 
(174,976
)
Total shareholders’ equity
$
500,616

 
$
375,763

Total liabilities and shareholder’s equity
$
500,616

 
$
385,510


SCHEDULE I-Evoqua Water Technologies Corp.
(Parent company only)
Condensed Statements of Operations
(In thousands)
 
Year Ended September 30,
 
2020
 
2019
 
2018
Other operating income
$
16

 
$
73

 
$
78

General and administrative expense
(476
)
 
(303
)
 
(2,142
)
Net income (loss) of subsidiaries
114,109

 
(9,293
)
 
8,199

Income (loss) before taxes
113,649

 
(9,523
)
 
6,135

Benefit for income taxes
—

 
—

 
—

Net income (loss)
$
113,649

 
$
(9,523
)
 
$
6,135


SCHEDULE 1-Evoqua Water Technologies Corp.
Condensed Statements of Changes in Cash Flows
(Parent company only)
(In thousands)
 
Year Ended September 30,
 
2020
 
2019
 
2018
Operating activities
 
 
 
 
 
Net income (loss)
$
113,649

 
$
(9,523
)
 
$
6,135

Adjustments to reconcile net income (loss) to net cash used in operating activities
 
 
 
 
 
Net (income) loss of subsidiaries
(114,109
)
 
9,293

 
(8,199
)
Foreign currency exchange gains on intercompany loans
(15
)
 
—

 
—

Changes in assets and liabilities
 
 
 
 
 
Due from affiliates
(3,990
)
 
—

 
—

Due to affiliates
(9,747
)
 
1,343

 
8,812

Accrued expenses
160

 
—

 
(61
)
Prepaids and other current assets
(24
)
 
(161
)
 


Net cash (used in) provided by operating activities
$
(14,076
)
 
$
952

 
$
6,687

Investing activities
 
 
 
 
 
Contributed capital
$
—

 
$
—

 
$
(140,999
)
Net cash used in investing activities
$
—

 
$
—

 
$
(140,999
)
Financing activities
 
 
 
 
 
Proceeds from issuance of common stock
$
18,927

 
$
363

 
$
137,605

Stock repurchases
—

 
—

 
(230
)
Taxes paid related to net share settlements of share-based compensation awards
—

 
(1,270
)
 
(8,807
)
Net cash provided by (used in) financing activities
$
18,927

 
$
(907
)
 
$
128,568

Change in cash and cash equivalents
$
4,851

 
$
45

 
$
(5,744
)
Cash and cash equivalents
 
 
 
 
 
Beginning of period
121

 
76

 
5,820

End of period
$
4,972

 
$
121

 
$
76


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, 2020, EWT Holdings III, Corp., a subsidiary of the Company, had $819,276 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, 2020, 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, 2020, 2019 and 2018.