$DBB
INVESCO DB BASE METALS FUND

2016 Q1 Form 10-K Financial Statement

#000119312516482727 Filed on February 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q3
Revenue $52.62K $22.13K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $260.3K $411.0K
YoY Change -28.24% -39.25%
Operating Profit -$207.7K -$320.7K -$388.8K
YoY Change -41.29% -39.4% -40.68%
Interest Expense $39.42K $50.76K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $3.553M -$10.14M -$20.58M
YoY Change -136.61% -37.58% 7090.47%
Net Earnings / Revenue 6753.03% -92982.93%
Basic Earnings Per Share $0.54 -$0.88 -$1.66
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 8.600M shares 12.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $5.279M $4.851M $2.719M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $102.8M $126.9M $179.9M
YoY Change -63.33% -49.4% -48.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $997.2K $12.96M $26.88M
YoY Change -98.7% -57.14% 15.82%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $101.8M $114.0M $153.0M
YoY Change
Total Liabilities & Shareholders Equity $102.8M $126.9M $179.9M
YoY Change -63.33% -49.4% -48.99%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $3.553M -$10.14M -$20.58M
YoY Change -136.61% -37.58% 7090.47%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $15.78M
YoY Change 118.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

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CY2015 us-gaap Nature Of Operations
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<div> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>(3) Fund Investment Overview</b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The Fund invests with a view to tracking the changes, whether positive or negative, in the level of the DBIQ Optimum Yield Industrial Metals Index Excess Return&#x2122; (the &#x201C;Index&#x201D;) over time, plus the excess, if any, of the Fund&#x2019;s interest income from its holdings of United States Treasury Obligations over the expenses of the Fund.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The Index is intended to reflect the change in market value of the base metals sector. The commodities comprising the Index are aluminum, zinc and copper&#x2014;Grade A (each an &#x201C;Index Commodity&#x201D;, and collectively, the &#x201C;Index Commodities&#x201D;).</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The Fund also holds United States Treasury Obligations on deposit with the Custodian (as defined below) and with the Commodity Broker (as defined below) as margin.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The Index Commodities are currently trading on the London Metals Exchange (the &#x201C;LME&#x201D;). Although the LME does not currently impose position limits on the Index Commodities, the LME may in the future impose position limits on market participants trading in certain commodities included in the Index. Further, in the event the Fund invests in alternative commodity futures contracts as described below, that trade on a U.S. exchange, the Commodity Futures Trading Commission (the &#x201C;CFTC&#x201D;) and commodity exchanges may impose position limits on market participants trading in the commodities futures contracts included in the Index. The Index is comprised of commodity futures contracts on the Index Commodities that expire in a specific month and trade on a specific exchange (the &#x201C;Index Contracts&#x201D;). As disclosed in the Prospectus, if the Managing Owner determines in its commercially reasonable judgment that it has become impracticable or inefficient for any reason for the Fund to gain full or partial exposure to any Index Commodity by investing in a specific Index Contract, the Fund may invest in a commodities futures contract referencing the particular Index Commodity other than the Index Contract or, in the alternative, invest in other commodities futures contracts not based on the particular Index Commodity if, in the commercially reasonable judgment of the Managing Owner, such commodities futures contracts tend to exhibit trading prices that correlate with such Index Commodity.</font></p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> &#xA0;</p> <p style="margin-top:0px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The Fund holds United States Treasury Obligations for deposit with the Commodity Broker as margin. The Fund does not borrow money to increase leverage. As of December&#xA0;31, 2015 and 2014, the Fund had $33,225,157 (or 26.17% of its total assets) and $250,885,301 (or 100.00% of its total assets), respectively, of its holdings of cash, United States Treasury Obligations and unrealized appreciation/depreciation on commodities futures contracts on deposit with its Commodity Broker or its Predecessor Commodity Broker (as defined below), as applicable. Of this, $33,225,157 (or 26.17% of its total assets) and $18,366,219 (or 7.32% of its total assets) was required to be deposited to satisfy maintenance margin required by the Commodity Broker, or its Predecessor Commodity Broker, as applicable for the Fund&#x2019;s open futures positions as of December&#xA0;31, 2015 and 2014, respectively. All remaining cash and United States Treasury Obligations are on deposit with the Custodian (See Note 4). For additional information, please see the Schedules of Investments as of December&#xA0;31, 2015 and 2014 for details of the Fund&#x2019;s portfolio holdings.</font></p> </div>
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CY2015 dei Entity Registrant Name
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POWERSHARES DB BASE METALS FUND
CY2015 dei Entity Well Known Seasoned Issuer
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>(b) Use of Estimates</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosure of contingent assets and liabilities during the reporting period of the financial statements and accompanying notes. Actual results could differ from those estimates. There were no significant estimates used in the preparation of these financial statements.</font></p> </div>
CY2015 dei Trading Symbol
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UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments
-409415
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-1523092
CY2015 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-55724875
CY2015 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-417044
CY2015 us-gaap Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments
-55721056
CY2015 us-gaap Distributed Earnings
DistributedEarnings
0
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-22513825
CY2015 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
-74872
CY2015 us-gaap Operating Expenses
OperatingExpenses
1597964
CY2015 us-gaap Interest Expense
InterestExpense
111932
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-49010629
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
145005969
CY2015 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-48080
CY2015 us-gaap Floor Brokerage Exchange And Clearance Fees
FloorBrokerageExchangeAndClearanceFees
158402
CY2015 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
194016598
CY2015 us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
372
CY2015 us-gaap Professional Fees
ProfessionalFees
1327630
CY2015 us-gaap Proceeds From Sale Of Securities Operating Activities
ProceedsFromSaleOfSecuritiesOperatingActivities
917099129
CY2015 us-gaap Increase Decrease In Trading Liabilities
IncreaseDecreaseInTradingLiabilities
5768874
CY2015 dbb Percentage Of Assets Held By Broker
PercentageOfAssetsHeldByBroker
0.2617 pure
CY2015 dbb Average Net Assets To Expenses
AverageNetAssetsToExpenses
0.0090 pure
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-655538
CY2015 dbb Stockholders Equity Period Increase Decrease Due To Share Transactions
StockholdersEquityPeriodIncreaseDecreaseDueToShareTransactions
-49010629
CY2015 dbb Average Net Assets To Net Investment Income Loss
AverageNetAssetsToNetInvestmentIncomeLoss
-0.0086 pure
CY2015 dbb Return At Net Asset Value
ReturnAtNetAssetValue
-0.2577 pure
CY2015 dbb Net Investment Income Loss Per Share
NetInvestmentIncomeLossPerShare
-0.12
CY2015 dbb Gain Loss On Investments Per Share
GainLossOnInvestmentsPerShare
-4.00
CY2015 dbb Number Of Shares Issued Per Basket
NumberOfSharesIssuedPerBasket
200000 shares
CY2015 dbb Return At Market Value
ReturnAtMarketValue
-0.2514 pure
CY2015 dbb Minimum Number Of Baskets Of Shares That Can Be Purchased
MinimumNumberOfBasketsOfSharesThatCanBePurchased
1 Basket
CY2015 dbb Management Fee Per Annum Of Daily Net Assets
ManagementFeePerAnnumOfDailyNetAssets
0.0075 pure
CY2015 dbb Minimum Number Of Baskets Of Shares That Can Be Redeemed
MinimumNumberOfBasketsOfSharesThatCanBeRedeemed
1 Basket
CY2015 dbb Average Charges Paid To Broker Per Round Turn Trade Maximum
AverageChargesPaidToBrokerPerRoundTurnTradeMaximum
19.00
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.93
CY2014Q1 us-gaap Interest Income Operating
InterestIncomeOperating
29815
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-15964910
CY2014Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-15479196
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-485714
CY2014Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
69412508
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.79
CY2015Q1 us-gaap Interest Income Operating
InterestIncomeOperating
9414
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-9704758
CY2015Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-9351009
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-353749
CY2015Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-16931753
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.12
CY2014Q2 us-gaap Interest Income Operating
InterestIncomeOperating
23696
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
20173444
CY2014Q2 us-gaap Gain Loss On Investments
GainLossOnInvestments
20723503
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-550059
CY2014Q2 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
11272157
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.79
CY2015Q2 us-gaap Interest Income Operating
InterestIncomeOperating
10978
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-17223903
CY2015Q2 us-gaap Gain Loss On Investments
GainLossOnInvestments
-16764055
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-459848
CY2015Q2 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-16442268
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2014Q3 us-gaap Interest Income Operating
InterestIncomeOperating
20937
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-286224
CY2014Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
369314
CY2014Q3 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
13869666
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.66
CY2015Q3 us-gaap Interest Income Operating
InterestIncomeOperating
22134
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-20580842
CY2015Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-20191997
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-388845
CY2015Q3 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-34279302
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.99
CY2014Q4 us-gaap Interest Income Operating
InterestIncomeOperating
11728
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-16250760
CY2014Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
-15721636
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-529124
CY2014Q4 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-108801896
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.88
CY2015Q4 us-gaap Interest Income Operating
InterestIncomeOperating
32346
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-10144060
CY2015Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
-9823410
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-320650
CY2015Q4 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-39010869

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