0001439095-18-000022.txt : 20180503 0001439095-18-000022.hdr.sgml : 20180503 20180503160134 ACCESSION NUMBER: 0001439095-18-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20180503 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20180503 DATE AS OF CHANGE: 20180503 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MRC GLOBAL INC. CENTRAL INDEX KEY: 0001439095 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-INDUSTRIAL MACHINERY & EQUIPMENT [5084] IRS NUMBER: 205956993 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35479 FILM NUMBER: 18803651 BUSINESS ADDRESS: STREET 1: FULBRIGHT TOWER STREET 2: 1301 MCKINNEY STREET, SUITE 2300 CITY: HOUSTON STATE: TX ZIP: 77010 BUSINESS PHONE: 877.294.7574 MAIL ADDRESS: STREET 1: FULBRIGHT TOWER STREET 2: 1301 MCKINNEY STREET, SUITE 2300 CITY: HOUSTON STATE: TX ZIP: 77010 FORMER COMPANY: FORMER CONFORMED NAME: MCJUNKIN RED MAN HOLDING CORP DATE OF NAME CHANGE: 20080702 8-K 1 mrc-20180503x8k.htm 8-K 8K Sector FD Disclosure 331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

___________________________________



FORM 8-K



___________________________________



CURRENT REPORT



Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



date of Report (Date of earliest event reported): May 3, 2018



___________________________________



MRC Global inc.

(Exact name of registrant as specified in its charter)



___________________________________





 

 

 


Identification Number)

Delaware

(State or other jurisdiction of incorporation)

001-35479

(Commission

File Number)

20-5956993 

(I.R.S. Employer
Identification Number)



 

Fulbright Tower, 1301 McKinney Street,  Suite 2300 

Houston, Texas 77010
(Address of Principal Executive Offices)

 

 

Registrant’s telephone number, including area code:  (877) 294-7574



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):



[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)



[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)



[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))



[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).



Emerging growth company



If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



 


 

Item 7.01Regulation FD Disclosure

MRC Global Inc. (“the Company”) is hereby releasing certain supplemental financial information.  In accordance with General Instructions B.2 of Form 8-K, the information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.



On January 1, 2018, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers.    The standard is applied prospectively to each of our reporting segments that will be presented in any subsequent financial statements to be filed with the Securities and Exchange Commission in Form 10-Q and Form 10-K.  In this supplemental disclosure, the Company presents certain disaggregated revenue information for each of the four quarters of 2017 and 2016 required under the new standard.    Our disaggregated revenue represents our business of selling PVF to the energy sector across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining and petrochemical and chemical processing and general industrials) markets in each of our reportable segments. 



The following table presents our revenue disaggregated by revenue source (in millions):





 

 

 

 

 

 

 

 

 

 

 

 

2017



 

US

 

Canada

 

International

 

Total

Q1 2017

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

140 

 

$

61 

 

$

44 

 

$

245 

Midstream

 

 

346 

 

 

11 

 

 

14 

 

 

371 

Downstream

 

 

180 

 

 

 

 

61 

 

 

246 

Total

 

$

666 

 

$

77 

 

$

119 

 

$

862 

Q2 2017

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

159 

 

$

50 

 

$

49 

 

$

258 

Midstream

 

 

379 

 

 

14 

 

 

27 

 

 

420 

Downstream

 

 

182 

 

 

 

 

57 

 

 

244 

Total

 

$

720 

 

$

69 

 

$

133 

 

$

922 

Q3 2017

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

164 

 

$

58 

 

$

47 

 

$

269 

Midstream

 

 

409 

 

 

14 

 

 

14 

 

 

437 

Downstream

 

 

186 

 

 

 

 

62 

 

 

253 

Total

 

$

759 

 

$

77 

 

$

123 

 

$

959 

Q4 2017

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

160 

 

$

53 

 

$

64 

 

$

277 

Midstream

 

 

362 

 

 

11 

 

 

 

 

375 

Downstream

 

 

193 

 

 

 

 

51 

 

 

251 

Total

 

$

715 

 

$

71 

 

$

117 

 

$

903 

YTD 2017

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

623 

 

$

222 

 

$

204 

 

$

1,049 

Midstream

 

 

1,496 

 

 

50 

 

 

57 

 

 

1,603 

Downstream

 

 

741 

 

 

22 

 

 

231 

 

 

994 

Total

 

$

2,860 

 

$

294 

 

$

492 

 

$

3,646 



 

 

 

 

 

 

 

 

 

 

 

 








 









 

 

 

 

 

 

 

 

 

 

 

 

2016



 

US

 

Canada

 

International

 

Total

Q1 2016

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

131 

 

$

47 

 

$

53 

 

$

231 

Midstream

 

 

263 

 

 

13 

 

 

 

 

278 

Downstream

 

 

212 

 

 

 

 

58 

 

 

274 

Total

 

$

606 

 

$

64 

 

$

113 

 

$

783 

Q2 2016

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

100 

 

$

37 

 

$

74 

 

$

211 

Midstream

 

 

276 

 

 

13 

 

 

 

 

292 

Downstream

 

 

175 

 

 

 

 

64 

 

 

243 

Total

 

$

551 

 

$

54 

 

$

141 

 

$

746 

Q3 2016

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

115 

 

$

38 

 

$

71 

 

$

224 

Midstream

 

 

298 

 

 

28 

 

 

 

 

327 

Downstream

 

 

177 

 

 

 

 

61 

 

 

242 

Total

 

$

590 

 

$

70 

 

$

133 

 

$

793 

Q4 2016

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

125 

 

$

41 

 

$

52 

 

$

218 

Midstream

 

 

258 

 

 

 

 

 

 

268 

Downstream

 

 

167 

 

 

 

 

61 

 

 

233 

Total

 

$

550 

 

$

55 

 

$

114 

 

$

719 

YTD 2016

 

 

 

 

 

 

 

 

 

 

 

 

Upstream

 

$

471 

 

$

163 

 

$

250 

 

$

884 

Midstream

 

 

1,095 

 

 

63 

 

 

 

 

1,165 

Downstream

 

 

731 

 

 

17 

 

 

244 

 

 

992 

Total

 

$

2,297 

 

$

243 

 

$

501 

 

$

3,041 




 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:  May 3, 2018

MRC GLOBAL INC.

By: /s/ James E. Braun                                                    

James E. Braun

Executive Vice President and Chief Financial Officer