$DBB
INVESCO DB BASE METALS FUND

2020 Q1 Form 10-K Financial Statement

#000156459020007551 Filed on February 28, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2018 Q4
Revenue $429.7K
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 $224.4K
YoY Change -56.41%
Operating Profit $224.0K
YoY Change -63.28%
Interest Expense $875.00
YoY Change -99.49%
% of Operating Profit 0.39%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$20.01M
YoY Change -217.84%
Net Earnings / Revenue -4656.18%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 8.400M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q4 2018 Q4
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 $118.6M $209.3M
YoY Change -43.35%
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 $1.602M $48.73M
YoY Change -96.71% 5209.81%
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 $117.0M $160.6M
YoY Change
Total Liabilities & Shareholders Equity $118.6M $209.3M
YoY Change -43.35% -33.56%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$20.01M
YoY Change -217.84%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $12.63M
YoY Change -2068.52%
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 $12.63M
YoY Change -485.79%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.63M
YoY Change -2068.52%
NET CHANGE
Cash From Operating Activities 12.63M
Cash From Investing Activities
Cash From Financing Activities -12.63M
Net Change In Cash 0.000
YoY Change
FREE CASH FLOW
Cash From Operating Activities $12.63M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<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.  Accounting Estimates</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 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 </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;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">issued</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</span></p>
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CY2019 us-gaap Due To And From Broker Dealers And Clearing Organizations Disclosure
DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure
<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;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 defines cash as cash held by the Custodian.  There were no cash equivalents held by the Fund as of December 31, 2019 and 2018.</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 may deposit cash, United States Treasury Obligations, T-Bill ETFs and money market mutual funds with the Commodity Broker as margin, to the extent permissible under CFTC rules. The combination of the Fund’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’s overall equity in its broker trading account. To meet the Fund’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.</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’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. The Fund incurs interest expense on any overdraft balance with the Custodian. Such balances, if any at period-end, are shown on the Statements of Financial Condition under the payable caption <span style="font-style:italic;">Due to custodian</span>.</p>
CY2018Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2019Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
55798273
CY2019Q4 dbb Financial Instruments Owned Exchange Traded Fund
FinancialInstrumentsOwnedExchangeTradedFund
16031526
CY2019Q4 dbb Financial Instruments Owned Money Market Mutual Fund At Fair Value
FinancialInstrumentsOwnedMoneyMarketMutualFundAtFairValue
41862588
CY2019Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
113692387
CY2019Q4 us-gaap Investment Owned Unrecognized Unrealized Appreciation
InvestmentOwnedUnrecognizedUnrealizedAppreciation
4835194
CY2019Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
118527581
CY2018Q4 us-gaap Investment Owned Unrecognized Unrealized Depreciation
InvestmentOwnedUnrecognizedUnrealizedDepreciation
16226963
CY2018Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
193034081
CY2017 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
4.44
CY2019 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-0.41
CY2018 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-3.89
CY2017 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
4.45
CY2019 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
0.23
CY2018 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
0.18
CY2017 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
-0.01
CY2019 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
-0.18
CY2018 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
-3.71
CY2019 dbb Minimum Number Of Creation Units Of Shares That Can Be Purchased
MinimumNumberOfCreationUnitsOfSharesThatCanBePurchased
1
CY2019 dbb Number Of Shares Redeemable Per Creation Unit
NumberOfSharesRedeemablePerCreationUnit
200000
CY2019 dbb Minimum Number Of Creation Units Of Shares That Can Be Redeemed
MinimumNumberOfCreationUnitsOfSharesThatCanBeRedeemed
1
CY2019 dbb Number Of Shares Redeemable Per Creation Unit
NumberOfSharesRedeemablePerCreationUnit
200000
CY2018Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
15.44
CY2017Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
19.39
CY2019 us-gaap Investment Company Tax Return Of Capital Distribution Per Share
InvestmentCompanyTaxReturnOfCapitalDistributionPerShare
-0.27
CY2018 us-gaap Investment Company Tax Return Of Capital Distribution Per Share
InvestmentCompanyTaxReturnOfCapitalDistributionPerShare
-0.24
CY2019Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
14.99
CY2018Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
15.44
CY2017Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
19.39
CY2018Q4 dbb Market Value Per Share
MarketValuePerShare
15.38
CY2017Q4 dbb Market Value Per Share
MarketValuePerShare
19.43
CY2016Q4 dbb Market Value Per Share
MarketValuePerShare
14.91
CY2019Q4 dbb Market Value Per Share
MarketValuePerShare
14.96
CY2018Q4 dbb Market Value Per Share
MarketValuePerShare
15.38
CY2017Q4 dbb Market Value Per Share
MarketValuePerShare
19.43
CY2019 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0147
CY2018 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0098
CY2017 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0004
CY2019 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0091
CY2018 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0096
CY2017 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0078
CY2019 us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
-0.0115
CY2018 us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
-0.1913
CY2017 us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.2970
CY2019 dbb Return At Market Value
ReturnAtMarketValue
-0.0097
CY2018 dbb Return At Market Value
ReturnAtMarketValue
-0.1961
CY2017 dbb Return At Market Value
ReturnAtMarketValue
0.3032
CY2017 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0077
CY2019 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0093
CY2018 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0098

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