$DBB
INVESCO DB BASE METALS FUND

2023 Q1 Form 10-K Financial Statement

#000156459023002357 Filed on February 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $3.637M $5.851M
YoY Change 2652.4% 5187.52%
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 $469.7K $3.367M
YoY Change -56.71% 18.65%
Operating Profit $3.206M $2.669M
YoY Change -440.39% -199.24%
Interest Expense $5.721K $5.357K
YoY Change 9820.37%
% of Operating Profit 0.18% 0.2%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $5.825M -$66.00M
YoY Change -93.51% -181.92%
Net Earnings / Revenue 160.17% -1128.03%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 11.40M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $0.00 $1.965M
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 $322.8M $327.7M
YoY Change -32.78%
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 $98.46M $103.4M
YoY Change 33866.3%
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 $224.3M $224.3M
YoY Change
Total Liabilities & Shareholders Equity $322.8M $327.7M
YoY Change -32.78%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $5.825M -$66.00M
YoY Change -93.51% -181.92%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $5.757M $196.9M
YoY Change -106.06% -184.59%
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 $2.223M
YoY Change
Common Stock Issuance & Retirement, Net $192.7M
YoY Change -182.79%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.722M -194.9M
YoY Change -108.13% -183.75%
NET CHANGE
Cash From Operating Activities 5.757M 196.9M
Cash From Investing Activities
Cash From Financing Activities -7.722M -194.9M
Net Change In Cash -1.965M 1.965M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $5.757M $196.9M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
326772681
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
74730960
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
445686226
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
93993469
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
38412768
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-194945807
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
232779212
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
36318192
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1964633
CY2021Q4 us-gaap Cash
Cash
0
CY2020Q4 us-gaap Cash
Cash
0
CY2019Q4 us-gaap Cash
Cash
0
CY2020 us-gaap Interest Paid Net
InterestPaidNet
1571
CY2006Q3 dbb Number Of Series Of Trusts
NumberOfSeriesOfTrusts
7
CY2015Q1 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
40
CY2022 dbb Treasury Obligation Measurement Maximum Maturity Period
TreasuryObligationMeasurementMaximumMaturityPeriod
P12M
CY2022 dbb Minimum Number Of Creation Units Of Shares That Can Be Purchased
MinimumNumberOfCreationUnitsOfSharesThatCanBePurchased
1
CY2022 dbb Number Of Shares Issued Per Creation Unit
NumberOfSharesIssuedPerCreationUnit
100000
CY2022Q4 dbb Financial Instruments Owned Exchange Traded Fund
FinancialInstrumentsOwnedExchangeTradedFund
19993532
CY2022Q4 us-gaap Cash
Cash
1964633
CY2022 us-gaap Interest Paid Net
InterestPaidNet
5357
CY2022Q4 dbb Financial Instruments Owned Money Market Mutual Fund At Fair Value
FinancialInstrumentsOwnedMoneyMarketMutualFundAtFairValue
143604164
CY2022Q4 us-gaap Investment Owned Unrecognized Unrealized Appreciation
InvestmentOwnedUnrecognizedUnrealizedAppreciation
426498
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:3.33%;text-indent:-3.33%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br/></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <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 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 issued.</p>
CY2022 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2022-12-23
CY2022 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2022-12-20
CY2021 us-gaap Distributed Earnings
DistributedEarnings
0
CY2020 us-gaap Distributed Earnings
DistributedEarnings
0
CY2022Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
146181951
CY2022 dbb Average Charges Paid To Broker Per Round Turn Trade Maximum
AverageChargesPaidToBrokerPerRoundTurnTradeMaximum
13.00
CY2021 dbb Average Charges Paid To Broker Per Round Turn Trade Maximum
AverageChargesPaidToBrokerPerRoundTurnTradeMaximum
13.00
CY2020 dbb Average Charges Paid To Broker Per Round Turn Trade Maximum
AverageChargesPaidToBrokerPerRoundTurnTradeMaximum
13.00
CY2022Q4 us-gaap Trading Liabilities
TradingLiabilities
62908834
CY2021Q4 dbb Trading Assets
TradingAssets
6172132
CY2022 dbb Management Fee Per Annum Of Daily Net Assets
ManagementFeePerAnnumOfDailyNetAssets
0.0075
CY2022 us-gaap Investment Company Fee Waiver Terms
InvestmentCompanyFeeWaiverTerms
The Managing Owner has contractually agreed to waive indefinitely the fees that it receives in an amount equal to the indirect management fees that the Fund incurs through its investments in affiliated money market mutual funds and/or affiliated T-Bill ETFs. The Managing Owner may terminate this fee waiver on 60 days’ notice.
CY2022 us-gaap Investment Company Contractual Fee Waived
InvestmentCompanyContractualFeeWaived
184876
CY2021 us-gaap Investment Company Contractual Fee Waived
InvestmentCompanyContractualFeeWaived
37544
CY2020 us-gaap Investment Company Contractual Fee Waived
InvestmentCompanyContractualFeeWaived
81572
CY2022 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, 2022 and 2021.</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>
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2022Q4 us-gaap Tax Basis Of Investments Unrealized Appreciation Depreciation Net
TaxBasisOfInvestmentsUnrealizedAppreciationDepreciationNet
-38400145
CY2022Q4 dbb Financial Instruments Owned At Fair Value Others
FinancialInstrumentsOwnedAtFairValueOthers
-37973647
CY2021 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0076
CY2019Q4 dbb Market Value Per Share
MarketValuePerShare
14.96
CY2022Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
271806000
CY2021Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
112005375
CY2021Q4 dbb Financial Instruments Owned Exchange Traded Fund
FinancialInstrumentsOwnedExchangeTradedFund
36070938
CY2021Q4 dbb Financial Instruments Owned Money Market Mutual Fund At Fair Value
FinancialInstrumentsOwnedMoneyMarketMutualFundAtFairValue
281668913
CY2021Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
429745226
CY2021Q4 us-gaap Investment Owned Unrecognized Unrealized Appreciation
InvestmentOwnedUnrecognizedUnrealizedAppreciation
51567124
CY2021Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
481312350
CY2022 dbb Minimum Number Of Creation Units Of Shares That Can Be Purchased
MinimumNumberOfCreationUnitsOfSharesThatCanBePurchased
1
CY2022 dbb Number Of Shares Redeemable Per Creation Unit
NumberOfSharesRedeemablePerCreationUnit
100000
CY2022 dbb Minimum Number Of Creation Units Of Shares That Can Be Redeemed
MinimumNumberOfCreationUnitsOfSharesThatCanBeRedeemed
1
CY2022 dbb Number Of Shares Redeemable Per Creation Unit
NumberOfSharesRedeemablePerCreationUnit
100000
CY2021Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
22.14
CY2020Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
17.21
CY2019Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
14.99
CY2022 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-2.60
CY2021 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
5.08
CY2020 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
2.26
CY2022 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
0.14
CY2021 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
-0.15
CY2020 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
-0.04
CY2022 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
-2.46
CY2021 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
4.93
CY2020 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
2.22
CY2022 us-gaap Investment Company Tax Return Of Capital Distribution Per Share
InvestmentCompanyTaxReturnOfCapitalDistributionPerShare
-0.18
CY2022Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
19.50
CY2021Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
22.14
CY2020Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
17.21
CY2021Q4 dbb Market Value Per Share
MarketValuePerShare
22.18
CY2020Q4 dbb Market Value Per Share
MarketValuePerShare
17.25
CY2022Q4 dbb Market Value Per Share
MarketValuePerShare
19.57
CY2021Q4 dbb Market Value Per Share
MarketValuePerShare
22.18
CY2020Q4 dbb Market Value Per Share
MarketValuePerShare
17.25
CY2022 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0062
CY2021 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0073
CY2020 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0025
CY2022 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0073
CY2022 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0078
CY2021 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0077
CY2020 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0072
CY2020 dbb Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0079
CY2022 us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
-0.1109
CY2021 us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.2865
CY2020 us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.1481
CY2022 dbb Return At Market Value
ReturnAtMarketValue
-0.1093
CY2021 dbb Return At Market Value
ReturnAtMarketValue
0.2858
CY2020 dbb Return At Market Value
ReturnAtMarketValue
0.1531

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