2018 Q2 Form 10-K Financial Statement

#000002321718000005 Filed on July 20, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2018
Revenue $1.966B $1.995B $7.938B
YoY Change 5.61% 0.67% 1.42%
Cost Of Revenue $1.383B $1.396B $5.587B
YoY Change 3.91% 2.61% 1.89%
Gross Profit $575.4M $598.8M $2.352B
YoY Change 8.77% -3.57% 0.33%
Gross Profit Margin 29.26% 30.02% 29.62%
Selling, General & Admin $435.5M $352.1M $1.398B
YoY Change 14.94% 0.69% -5.13%
% of Gross Profit 75.69% 58.8% 59.47%
Research & Development $47.30M
YoY Change 6.05%
% of Gross Profit 2.01%
Depreciation & Amortization $63.60M $55.50M $222.1M
YoY Change -6.74% -3.48% -5.25%
% of Gross Profit 11.05% 9.27% 9.45%
Operating Expenses $435.5M $352.1M $1.446B
YoY Change 14.94% 0.69% -4.8%
Operating Profit $139.9M $355.2M $1.413B
YoY Change -6.8% -5.66% 13.91%
Interest Expense -$49.70M -$39.30M -$161.0M
YoY Change 47.04% -11.29% -17.86%
% of Operating Profit -35.53% -11.06% -11.4%
Other Income/Expense, Net
YoY Change
Pretax Income $89.40M $228.8M $972.1M
YoY Change 21.3% 1.42% 21.41%
Income Tax $33.10M -$91.40M $174.6M
% Of Pretax Income 37.02% -39.95% 17.96%
Net Earnings $69.60M $362.8M $808.4M
YoY Change -54.0% 101.89% 26.45%
Net Earnings / Revenue 3.54% 18.19% 10.18%
Basic Earnings Per Share $0.18 $0.91 $2.00
Diluted Earnings Per Share $0.18 $0.90 $1.98
COMMON SHARES
Basic Shares Outstanding 390.9M shares 399.1M shares 403.9M
Diluted Shares Outstanding 402.5M shares 407.4M

Balance Sheet

Concept 2018 Q2 2018 Q1 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $132.8M $133.0M $128.0M
YoY Change -47.09% -80.56% -49.0%
Cash & Equivalents $128.0M $132.9M $128.0M
Short-Term Investments $4.800M
Other Short-Term Assets $184.9M $253.3M $253.0M
YoY Change -19.15% 21.95% -4.17%
Inventory $988.7M $1.017B $989.0M
Prepaid Expenses
Receivables $569.0M $603.0M $569.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.939B $2.058B $1.939B
YoY Change -3.69% -18.94% -3.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.590B $1.627B $1.590B
YoY Change -2.67% -1.72% -4.5%
Goodwill $4.477B $4.507B
YoY Change 4.59% 6.0%
Intangibles $1.283B $1.300B
YoY Change 4.83% 3.77%
Long-Term Investments $776.0M
YoY Change 4.72%
Other Assets $906.3M $853.6M $315.0M
YoY Change 14.63% 7.02% 115.75%
Total Long-Term Assets $8.451B $8.405B $8.451B
YoY Change 4.55% 5.59% 4.55%
TOTAL ASSETS
Total Short-Term Assets $1.939B $2.058B $1.939B
Total Long-Term Assets $8.451B $8.405B $8.451B
Total Assets $10.39B $10.46B $10.39B
YoY Change 2.9% -0.34% 2.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $905.3M $869.6M $905.0M
YoY Change 17.1% 26.01% 17.08%
Accrued Expenses $832.0M $690.0M $832.0M
YoY Change 15.88% -6.76% 15.88%
Deferred Revenue
YoY Change
Short-Term Debt $277.0M $352.0M $277.0M
YoY Change 889.29% 8700.0% 889.29%
Long-Term Debt Due $307.0M $77.00M $307.0M
YoY Change 54.27% -40.31% 54.27%
Total Short-Term Liabilities $2.336B $1.991B $2.336B
YoY Change 35.79% 27.21% 35.74%
LONG-TERM LIABILITIES
Long-Term Debt $3.232B $3.233B $3.232B
YoY Change 16.69% 13.76% 16.72%
Other Long-Term Liabilities $1.061B $1.430B $1.065B
YoY Change -30.61% -20.03% -30.35%
Total Long-Term Liabilities $4.292B $1.430B $4.297B
YoY Change -0.13% -20.03% -0.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.336B $1.991B $2.336B
Total Long-Term Liabilities $4.292B $1.430B $4.297B
Total Liabilities $6.633B $6.654B $6.713B
YoY Change 10.21% 7.41% 9.94%
SHAREHOLDERS EQUITY
Retained Earnings $4.745B $4.759B
YoY Change 11.72% 14.09%
Common Stock $4.020B $4.013B
YoY Change 0.2% 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.978B $4.876B
YoY Change 22.76% 32.38%
Treasury Stock Shares 177.1M shares 174.4M shares
Shareholders Equity $3.676B $3.721B $3.676B
YoY Change
Total Liabilities & Shareholders Equity $10.39B $10.46B $10.39B
YoY Change 2.9% -0.34% 2.91%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2018
OPERATING ACTIVITIES
Net Income $69.60M $362.8M $808.4M
YoY Change -54.0% 101.89% 26.45%
Depreciation, Depletion And Amortization $63.60M $55.50M $222.1M
YoY Change -6.74% -3.48% -5.25%
Cash From Operating Activities $111.9M $421.6M $954.2M
YoY Change -65.43% 38.55% -18.46%
INVESTING ACTIVITIES
Capital Expenditures -$75.70M -$52.50M $251.6M
YoY Change -9.45% 30.6% 3.92%
Acquisitions $337.1M
YoY Change 3.5%
Other Investing Activities $700.0K -$82.60M -$4.500M
YoY Change -100.33% -6983.33% -15.09%
Cash From Investing Activities -$75.00M -$135.1M -$576.2M
YoY Change -74.59% 246.41% 213.15%
FINANCING ACTIVITIES
Cash Dividend Paid $342.3M
YoY Change -17.52%
Common Stock Issuance & Retirement, Net $967.3M
YoY Change -3.27%
Debt Paid & Issued, Net $242.3M
YoY Change -77.24%
Cash From Financing Activities -38.90M -237.5M -506.9M
YoY Change -91.58% -76.85% -67.69%
NET CHANGE
Cash From Operating Activities 111.9M 421.6M 954.2M
Cash From Investing Activities -75.00M -135.1M -576.2M
Cash From Financing Activities -38.90M -237.5M -506.9M
Net Change In Cash -2.000M 49.00M -123.4M
YoY Change -99.54% -106.44% -78.84%
FREE CASH FLOW
Cash From Operating Activities $111.9M $421.6M $954.2M
Capital Expenditures -$75.70M -$52.50M $251.6M
Free Cash Flow $187.6M $474.1M $702.6M
YoY Change -53.94% 37.62% -24.3%

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162100000 USD
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207100000 USD
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P14Y
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179500000 USD
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213200000 USD
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33300000 USD
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30900000 USD
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-5100000 USD
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-1500000 USD
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0 USD
CY2018 us-gaap Gain Loss On Contract Termination
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0 USD
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197400000 USD
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0 USD
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313300000 USD
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379000000 USD
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174300000 USD
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213000000 USD
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4000000 USD
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198900000 USD
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529000000 USD
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519000000 USD
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658300000 USD
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598800000 USD
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126600000 USD
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544100000 USD
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794100000 USD
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1900000 USD
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1900000 USD
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3400000 USD
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174900000 USD
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800700000 USD
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972100000 USD
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108800000 USD
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729500000 USD
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874800000 USD
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128500000 USD
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98600000 USD
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114300000 USD
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179500000 USD
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153600000 USD
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546000000 USD
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153600000 USD
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224100000 USD
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349200000 USD
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70600000 USD
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797500000 USD
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11600000 USD
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700000 USD
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102000000 USD
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400000 USD
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95200000 USD
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66100000 USD
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25700000 USD
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3000000 USD
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34800000 USD
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972300000 USD
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254700000 USD
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341200000 USD
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160500000 USD
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78600000 USD
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61200000 USD
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280200000 USD
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285300000 USD
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104700000 USD
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0 USD
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2100000 USD
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28200000 USD
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22400000 USD
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18000000 USD
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291300000 USD
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213000000 USD
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164100000 USD
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71000000 USD
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144900000 USD
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156800000 USD
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4700000 USD
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68900000 USD
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62800000 USD
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3500000 USD
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1900000 USD
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4800000 USD
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651100000 USD
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997100000 USD
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182100000 USD
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206200000 USD
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91900000 USD
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92400000 USD
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1200000 USD
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3700000 USD
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3800000 USD
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103200000 USD
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108600000 USD
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10096300000 USD
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2336200000 USD
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48500000 USD
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51700000 USD
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2970000000 USD
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3540000000 USD
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199000000 USD
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307000000 USD
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199000000 USD
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307000000 USD
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307100000 USD
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1093600000 USD
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6900000 USD
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829400000 USD
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6700000 USD
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2769200000 USD
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3231500000 USD
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0 USD
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0 USD
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151000000 USD
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151000000 USD
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347200000 USD
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328300000 USD
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278600000 USD
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87000000 USD
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80400000 USD
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1800000 USD
CY2018 us-gaap Minority Interest Period Increase Decrease
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-5500000 USD
CY2016 us-gaap Multiemployer Plans Plan Contributions1
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11100000 USD
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100000 USD
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100000 USD
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100000 USD
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200000 USD
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300000 USD
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208400000 USD
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14900000 USD
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Year </font><font style="font-family:inherit;font-size:10pt;">&#8212; The fiscal year of Conagra Brands, Inc. ("Conagra Brands", "Company", "we", "us", or "our") ends the last Sunday in May. The fiscal years for the consolidated financial statements presented consist of </font><font style="font-family:inherit;font-size:10pt;">52-week</font><font style="font-family:inherit;font-size:10pt;"> periods for fiscal years 2018, 2017, and 2016. </font></div></div>
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