$DBB
INVESCO DB BASE METALS FUND

2017 Q1 Form 10-K Financial Statement

#000156459017002927 Filed on March 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 2015 Q4
Revenue $331.4K $465.6K
YoY Change 529.9% 521.81%
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 $564.6K $1.427M
YoY Change 116.92% -10.67%
Operating Profit -$224.9K -$953.1K -$320.7K
YoY Change 8.27% -37.42% -39.4%
Interest Expense $39.88K
YoY Change -64.37%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $26.66M $35.73M -$10.14M
YoY Change 650.24% -161.97% -37.58%
Net Earnings / Revenue 8043.17% 7673.67%
Basic Earnings Per Share $1.43 $3.08 -$0.88
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 19.00M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $4.851M
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 $126.9M
YoY Change -49.4%
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 $12.96M
YoY Change -57.14%
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 $281.8M $114.0M
YoY Change
Total Liabilities & Shareholders Equity $126.9M
YoY Change -49.4%

Cashflow Statement

Concept 2017 Q1 2016 2015 Q4
OPERATING ACTIVITIES
Net Income $26.66M $35.73M -$10.14M
YoY Change 650.24% -161.97% -37.58%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$139.3M
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 $29.03M -$134.4M
YoY Change 84.01% -374.28%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 134.4M
YoY Change
NET CHANGE
Cash From Operating Activities -139.3M
Cash From Investing Activities
Cash From Financing Activities 134.4M
Net Change In Cash -4.851M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$139.3M
Capital Expenditures
Free Cash Flow
YoY Change

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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">(3) Fund Investment Overview</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The Fund seeks to track changes, whether positive or negative, in the level of the DBIQ Optimum Yield Industrial Metals Index Excess Return&#8482; (the &#8220;Index&#8221;) over time, plus the excess, if any, of the sum of the Fund&#8217;s interest income from its holdings of United States Treasury Obligations (&#8220;Treasury Income&#8221;) and dividends from its holdings in money market mutual funds (affiliated or otherwise) (&#8220;Money Market Income&#8221;) over the expenses of the Fund. Additionally, the Fund may also gain an exposure to United States Treasury Obligations through an investment in exchange-traded funds (affiliated or otherwise) that track indexes that measure the performance of United States Treasury Obligations with a maximum remaining maturity of up to 12 months (&#8220;T-Bill ETFs&#8221;), and the Fund may receive dividends or distributions of capital gains from such investment in T-Bill ETFs (&#8220;T-Bill ETF Income&#8221;).&nbsp;&nbsp;For the avoidance of doubt, the Fund invests in futures contracts in an attempt to track its Index.&nbsp;&nbsp;The Fund holds United States Treasury Obligations, money market mutual funds and may, in the future, hold T-Bill ETFs for margin and/or cash management purposes only.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8212;Grade A (each an &#8220;Index Commodity&#8221;, and collectively, the &#8220;Index Commodities&#8221;).</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Index Commodities are currently trading on the London Metals Exchange (the &#8220;LME&#8221;). 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.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 &#8220;CFTC&#8221;) and/or commodity exchanges, as applicable, may impose position limits on market participants trading in the commodities included in the Index. The Index is comprised of futures contracts on the Index Commodities that expire in a specific month and trade on a specific exchange (the &#8220;Index Contracts&#8221;). 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 the Index Contract, the Fund may invest in a futures contract referencing the particular Index Commodity other than the specific contract that comprises the applicable Index or, in the alternative, invest in other 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 a futures contract that comprises the applicable Index</p></div>
CY2016 us-gaap Use Of Estimates
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<div> <p style="margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">(b) Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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. </p></div>
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EarningsPerShareBasic
3.08
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.12
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.79
CY2016Q4 dbb Shares Asset Value Per Share
SharesAssetValuePerShare
14.95
CY2016 dbb Average Net Assets To Net Investment Income Loss
AverageNetAssetsToNetInvestmentIncomeLoss
-0.0059
CY2015 dbb Average Net Assets To Net Investment Income Loss
AverageNetAssetsToNetInvestmentIncomeLoss
-0.0086
CY2014 dbb Average Net Assets To Net Investment Income Loss
AverageNetAssetsToNetInvestmentIncomeLoss
-0.0075
CY2016 dbb Average Net Assets To Expenses After Waivers
AverageNetAssetsToExpensesAfterWaivers
0.0088
CY2015 dbb Average Net Assets To Expenses After Waivers
AverageNetAssetsToExpensesAfterWaivers
0.0090
CY2014 dbb Average Net Assets To Expenses After Waivers
AverageNetAssetsToExpensesAfterWaivers
0.0078
CY2016 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0088
CY2015 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0090
CY2014 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0078
CY2016 dbb Return At Net Asset Value
ReturnAtNetAssetValue
0.2595
CY2015 dbb Return At Net Asset Value
ReturnAtNetAssetValue
-0.2577
CY2014 dbb Return At Net Asset Value
ReturnAtNetAssetValue
-0.0471
CY2016 dbb Return At Market Value
ReturnAtMarketValue
0.2519
CY2015 dbb Return At Market Value
ReturnAtMarketValue
-0.2514
CY2014 dbb Return At Market Value
ReturnAtMarketValue
-0.0569

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