$DBB
INVESCO DB BASE METALS FUND

2018 Q1 Form 10-K Financial Statement

#000156459018003615 Filed on February 28, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2016 Q4 2016
Revenue $1.103M $465.6K
YoY Change 232.83% 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 $668.7K $1.427M
YoY Change 18.44% -10.67%
Operating Profit $446.7K -$953.1K
YoY Change -298.68% -37.42%
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 -$23.06M $35.73M
YoY Change -186.51% -161.97%
Net Earnings / Revenue -2090.73% 7673.67%
Basic Earnings Per Share $3.08
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 17.60M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
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 $284.4M
YoY Change 124.07%
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 $313.3K
YoY Change -97.58%
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 $348.9M $284.1M
YoY Change
Total Liabilities & Shareholders Equity $284.4M
YoY Change 124.07%

Cashflow Statement

Concept 2018 Q1 2016 Q4 2016
OPERATING ACTIVITIES
Net Income -$23.06M $35.73M
YoY Change -186.51% -161.97%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$57.88M -$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 -$57.88M -$134.4M
YoY Change -299.35% -374.28%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 57.88M 134.4M
YoY Change
NET CHANGE
Cash From Operating Activities -57.88M -139.3M
Cash From Investing Activities
Cash From Financing Activities 57.88M 134.4M
Net Change In Cash 0.000 -4.851M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$57.88M -$139.3M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2017 us-gaap Unrealized Gain Loss On Commodity Contracts
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18993265
CY2016 us-gaap Unrealized Gain Loss On Commodity Contracts
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18962353
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CY2016 dbb Stockholders Equity Period Increase Decrease Due To Share Transactions
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CY2016 us-gaap Stockholders Equity Period Increase Decrease
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18962353
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26376695
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InterestPaid
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CY2017 us-gaap Due To And From Broker Dealers And Clearing Organizations Disclosure
DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure
<div> <p style="margin-top:3pt;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;">Note 5 - Deposits with Commodity Broker and Custodian</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 defines cash as cash held by the Custodian.&nbsp;&nbsp;There were no cash equivalents held by the Fund as of December 31, 2017 and 2016.</p> <p style="margin-top:6pt;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 Fund deposits cash and United States Treasury Obligations with the Commodity Broker, subject to CFTC regulations and various exchange and broker requirements. The combination of the Fund&#8217;s deposits with its Commodity Broker of cash and United States Treasury Obligations and the unrealized profit or loss on open futures contracts represents the Fund&#8217;s overall equity in its broker trading account. To meet the Fund&#8217;s maintenance margin requirements, the Fund holds United States Treasury Obligations with the Commodity Broker. The Fund transfers cash to the Commodity Broker to satisfy variation margin requirements. The Fund earns interest on any excess cash deposited with the Commodity Broker and incurs interest expense on any deficit balance with the Commodity Broker. The Fund may deposit T-Bill ETFs and money market mutual funds with the Commodity Broker as margin, to the extent permissible under CFTC rules.</p> <p style="margin-top:6pt;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 brokerage agreement with the Commodity Broker provides for the net settlement of all financial instruments covered by the agreement in the event of default or termination of any one contract. The Managing Owner will utilize any excess cash held at the Commodity Broker to offset any realized losses incurred in the commodity futures contracts, if available. To the extent that any excess cash held at the Commodity Broker is not adequate to cover any realized losses, a portion of the United States Treasury Obligations and T-Bill ETFs, if any, on deposit with the Commodity Broker will be sold to make additional cash available. For financial reporting purposes, the Fund offsets financial assets and financial liabilities that are subject to legally enforceable netting arrangements. </p> <p style="margin-top:6pt;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 Fund&#8217;s remaining cash, United States Treasury Obligations, T-Bill ETFs and money market mutual fund holdings are on deposit with the Custodian. The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with the Custodian. Such balances, if any at period-end, are shown on the Statements of Financial Condition under the payable caption <font style="font-style:italic;">Due to custodian</font>.</p></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:3.33%;text-indent:-3.33%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">B.&nbsp;&nbsp;Accounting 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 financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.</p></div>
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7
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1000
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40
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2015-02-23
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P12M
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NumberOfSharesIssuedPerBasket
200000
CY2017 dbb Minimum Number Of Baskets Of Shares That Can Be Purchased
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1
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DistributedEarnings
0
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DistributedEarnings
0
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DistributedEarnings
0
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19.00
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19.00
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19.00
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ManagementFeePerAnnumOfDailyNetAssets
0.0075
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InvestmentCompanyContractualFeeWaived
0
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CashEquivalentsAtCarryingValue
0
CY2016Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2017Q4 dbb Financial Instruments Owned Exchange Traded Fund
FinancialInstrumentsOwnedExchangeTradedFund
15990513
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FinancialInstrumentsOwnedMoneyMarketMutualFundAtFairValue
23103724
CY2017Q4 us-gaap Investment Owned Unrecognized Unrealized Appreciation Depreciation Net
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31489170
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19276827
CY2016Q4 us-gaap Investment Owned Unrecognized Unrealized Appreciation Depreciation Net
InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet
12495905
CY2016Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
284444248
CY2017 dbb Minimum Number Of Baskets Of Shares That Can Be Redeemed
MinimumNumberOfBasketsOfSharesThatCanBeRedeemed
1
CY2015Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
11.87
CY2014Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
15.99
CY2017 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
4.45
CY2016 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
3.16
CY2017 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
-0.01
CY2015 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
-4.12
CY2015Q4 dbb Market Value Per Share
MarketValuePerShare
11.91
CY2017 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0004
CY2016 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0059
CY2015 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0086
CY2017 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0077
CY2015 dbb Return At Market Value
ReturnAtMarketValue
-0.2514
CY2015 us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
372
CY2015 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
-74872

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