$FBIN
Fortune Brands Innovations, Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020020502 Filed on May 01, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $1.403B $1.328B
YoY Change 5.63% 5.84%
Cost Of Revenue $909.5M $869.1M
YoY Change 4.65% 6.64%
Gross Profit $493.2M $458.8M
YoY Change 7.5% 4.37%
Gross Profit Margin 35.16% 34.55%
Selling, General & Admin $313.9M $312.0M
YoY Change 0.61% 0.26%
% of Gross Profit 63.65% 68.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.20M $27.80M
YoY Change -2.16% 9.88%
% of Gross Profit 5.52% 6.06%
Operating Expenses $324.2M $312.0M
YoY Change 3.91% 0.26%
Operating Profit $155.0M $135.6M
YoY Change 14.31% 13.57%
Interest Expense $22.10M $23.70M
YoY Change -6.75% 61.22%
% of Operating Profit 14.26% 17.48%
Other Income/Expense, Net $6.100M $1.200M
YoY Change 408.33% -57.14%
Pretax Income $139.0M $113.1M
YoY Change 22.9% 5.21%
Income Tax $29.90M $28.60M
% Of Pretax Income 21.51% 25.29%
Net Earnings $109.1M $84.70M
YoY Change 28.81% 12.93%
Net Earnings / Revenue 7.78% 6.38%
Basic Earnings Per Share $0.78 $0.60
Diluted Earnings Per Share $0.77 $0.60
COMMON SHARES
Basic Shares Outstanding 139.3M 140.7M
Diluted Shares Outstanding 140.8M 141.9M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $359.7M $281.2M
YoY Change 27.92% 15.06%
Cash & Equivalents $359.7M $281.2M
Short-Term Investments
Other Short-Term Assets $173.0M $178.8M
YoY Change -3.24% 19.68%
Inventory $703.1M $737.9M
Prepaid Expenses
Receivables $678.2M $650.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.914B $1.848B
YoY Change 3.57% 12.37%
LONG-TERM ASSETS
Property, Plant & Equipment $807.6M $806.3M
YoY Change 0.16% 8.55%
Goodwill $2.079B $2.084B
YoY Change -0.23% 8.62%
Intangibles $1.140B $1.240B
YoY Change -8.05% 7.69%
Long-Term Investments
YoY Change
Other Assets $200.0M $136.4M
YoY Change 46.63% 43.88%
Total Long-Term Assets $4.386B $4.441B
YoY Change -1.24% 13.66%
TOTAL ASSETS
Total Short-Term Assets $1.914B $1.848B
Total Long-Term Assets $4.386B $4.441B
Total Assets $6.300B $6.289B
YoY Change 0.17% 13.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $426.4M $442.0M
YoY Change -3.53% 5.97%
Accrued Expenses $31.80M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $399.9M $350.0M
YoY Change 14.26% 0.0%
Long-Term Debt Due $399.9M $350.0M
YoY Change 14.26% 0.0%
Total Short-Term Liabilities $1.246B $1.239B
YoY Change 0.59% 8.59%
LONG-TERM LIABILITIES
Long-Term Debt $2.035B $2.170B
YoY Change -6.2% 41.07%
Other Long-Term Liabilities $170.6M $160.0M
YoY Change 6.63% -12.71%
Total Long-Term Liabilities $2.206B $2.330B
YoY Change -5.32% 35.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.246B $1.239B
Total Long-Term Liabilities $2.206B $2.330B
Total Liabilities $3.942B $4.042B
YoY Change -2.47% 26.56%
SHAREHOLDERS EQUITY
Retained Earnings $1.872B $1.541B
YoY Change 21.45% 23.32%
Common Stock $2.845B $2.778B
YoY Change 2.42% 1.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.237B $2.006B
YoY Change 11.49% 25.44%
Treasury Stock Shares
Shareholders Equity $2.357B $2.246B
YoY Change
Total Liabilities & Shareholders Equity $6.300B $6.289B
YoY Change 0.17% 13.28%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $109.1M $84.70M
YoY Change 28.81% 12.93%
Depreciation, Depletion And Amortization $27.20M $27.80M
YoY Change -2.16% 9.88%
Cash From Operating Activities -$13.80M -$89.70M
YoY Change -84.62% 72.83%
INVESTING ACTIVITIES
Capital Expenditures $26.90M $27.20M
YoY Change -1.1% -27.66%
Acquisitions
YoY Change
Other Investing Activities -$50.10M $1.900M
YoY Change -2736.84% -137.25%
Cash From Investing Activities -$77.00M -$25.30M
YoY Change 204.35% -40.75%
FINANCING ACTIVITIES
Cash Dividend Paid $33.50M $31.00M
YoY Change 8.06% 4.73%
Common Stock Issuance & Retirement, Net $150.0M $18.00M
YoY Change 733.33% -94.46%
Debt Paid & Issued, Net $130.0M $160.0M
YoY Change -18.75% -68.93%
Cash From Financing Activities 77.30M 129.4M
YoY Change -40.26% 698.77%
NET CHANGE
Cash From Operating Activities -13.80M -89.70M
Cash From Investing Activities -77.00M -25.30M
Cash From Financing Activities 77.30M 129.4M
Net Change In Cash -28.50M 18.20M
YoY Change -256.59% -123.21%
FREE CASH FLOW
Cash From Operating Activities -$13.80M -$89.70M
Capital Expenditures $26.90M $27.20M
Free Cash Flow -$40.70M -$116.9M
YoY Change -65.18% 30.61%

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CY2020Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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CY2019Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2020Q1 fbhs Increase Decrease In Other Comprehensive Income Loss Net Of Tax
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CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.215
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CY2020Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
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CY2020Q1 us-gaap Restructuring Charges
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4500000
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5300000
CY2019Q1 us-gaap Restructuring Charges
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CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2019Q1 us-gaap Other Restructuring Costs
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400000
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CY2019Q1 us-gaap Restructuring Reserve
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CY2019Q1 us-gaap Profit Loss
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CY2019Q1 us-gaap Net Income Loss
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84700000
CY2020Q1 us-gaap Earnings Per Share Basic
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0.78
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0.60
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0.77
CY2019Q1 us-gaap Earnings Per Share Diluted
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0.60
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139300000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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140700000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1500000
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1200000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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140800000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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141900000
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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900000
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2800000

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