$FBIN
Fortune Brands Innovations, Inc.

2024 Q4 Form 10-Q Financial Statement

#000095017024122608 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $1.155B
YoY Change -0.72%
Cost Of Revenue $625.5M
YoY Change -10.08%
Gross Profit $529.8M
YoY Change 13.18%
Gross Profit Margin 45.86%
Selling, General & Admin $298.2M
YoY Change 6.23%
% of Gross Profit 56.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.90M
YoY Change 34.21%
% of Gross Profit 8.66%
Operating Expenses $298.2M
YoY Change 6.23%
Operating Profit $205.1M
YoY Change 34.4%
Interest Expense $30.20M
YoY Change 9.03%
% of Operating Profit 14.72%
Other Income/Expense, Net $1.600M
YoY Change -69.23%
Pretax Income $176.5M
YoY Change 35.66%
Income Tax $39.90M
% Of Pretax Income 22.61%
Net Earnings $136.6M
YoY Change 33.79%
Net Earnings / Revenue 11.82%
Basic Earnings Per Share $1.10
Diluted Earnings Per Share $1.09
COMMON SHARES
Basic Shares Outstanding 124.2M 124.1M
Diluted Shares Outstanding 125.1M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $344.8M
YoY Change -49.42%
Cash & Equivalents $344.8M
Short-Term Investments
Other Short-Term Assets $155.8M
YoY Change -16.33%
Inventory $962.6M
Prepaid Expenses
Receivables $555.9M
Other Receivables $0.00
Total Short-Term Assets $2.019B
YoY Change -17.37%
LONG-TERM ASSETS
Property, Plant & Equipment $981.6M
YoY Change 13.27%
Goodwill $2.005B
YoY Change 4.92%
Intangibles $1.324B
YoY Change -6.84%
Long-Term Investments
YoY Change
Other Assets $112.0M
YoY Change -4.03%
Total Long-Term Assets $4.579B
YoY Change 3.38%
TOTAL ASSETS
Total Short-Term Assets $2.019B
Total Long-Term Assets $4.579B
Total Assets $6.598B
YoY Change -4.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $493.3M
YoY Change 0.78%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $499.5M
YoY Change -16.72%
Long-Term Debt Due $499.5M
YoY Change -16.72%
Total Short-Term Liabilities $1.532B
YoY Change -6.61%
LONG-TERM LIABILITIES
Long-Term Debt $2.278B
YoY Change -14.64%
Other Long-Term Liabilities $97.90M
YoY Change 4.59%
Total Long-Term Liabilities $2.376B
YoY Change -13.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.532B
Total Long-Term Liabilities $2.376B
Total Liabilities $4.203B
YoY Change -10.51%
SHAREHOLDERS EQUITY
Retained Earnings $2.883B
YoY Change 16.45%
Common Stock $3.176B
YoY Change 2.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.717B
YoY Change 7.47%
Treasury Stock Shares
Shareholders Equity $2.396B
YoY Change
Total Liabilities & Shareholders Equity $6.598B
YoY Change -4.0%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $136.6M
YoY Change 33.79%
Depreciation, Depletion And Amortization $45.90M
YoY Change 34.21%
Cash From Operating Activities $205.3M
YoY Change -51.98%
INVESTING ACTIVITIES
Capital Expenditures $29.70M
YoY Change -57.33%
Acquisitions
YoY Change
Other Investing Activities $1.200M
YoY Change -100.15%
Cash From Investing Activities -$28.50M
YoY Change -96.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -192.8M
YoY Change -134.0%
NET CHANGE
Cash From Operating Activities 205.3M
Cash From Investing Activities -28.50M
Cash From Financing Activities -192.8M
Net Change In Cash -16.00M
YoY Change -110.97%
FREE CASH FLOW
Cash From Operating Activities $205.3M
Capital Expenditures $29.70M
Free Cash Flow $175.6M
YoY Change -50.94%

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fbin Pillar Two Legislation Description
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In 2021, the Organization for Economic Cooperation & Development (“OECD”), with the support of over 130 countries, endorsed a framework (“Pillar Two”), which includes establishing a 15 percent global minimum corporate tax rate on a country-by-country basis. Numerous countries have adopted legislation in support of Pillar Two or are in the process of doing so, with certain rules that became effective on January 1, 2024, and the remainder becoming effective on January 1, 2025. The Company is continuing to monitor and evaluate Pillar Two legislation and does not expect it to have a material impact on the Company’s tax liability in 2024.
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