$FBIN
Fortune Brands Innovations, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021039114 Filed on July 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $1.936B $1.376B
YoY Change 40.73% -8.72%
Cost Of Revenue $1.230B $892.9M
YoY Change 37.79% -7.91%
Gross Profit $705.8M $482.9M
YoY Change 46.16% -10.17%
Gross Profit Margin 36.45% 35.1%
Selling, General & Admin $394.6M $276.2M
YoY Change 42.87% -13.85%
% of Gross Profit 55.91% 57.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $47.50M $40.10M
YoY Change 18.45% 4.97%
% of Gross Profit 6.73% 8.3%
Operating Expenses $394.6M $286.5M
YoY Change 37.73% -10.64%
Operating Profit $294.9M $173.0M
YoY Change 70.46% -14.53%
Interest Expense $21.20M -$22.20M
YoY Change -195.5% -190.61%
% of Operating Profit 7.19% -12.83%
Other Income/Expense, Net $1.300M $5.200M
YoY Change -75.0% 642.86%
Pretax Income $275.0M $156.0M
YoY Change 76.28% -12.65%
Income Tax $57.80M $37.80M
% Of Pretax Income 21.02% 24.23%
Net Earnings $217.2M $115.8M
YoY Change 87.56% -15.78%
Net Earnings / Revenue 11.22% 8.42%
Basic Earnings Per Share $1.57 $0.84
Diluted Earnings Per Share $1.55 $0.83
COMMON SHARES
Basic Shares Outstanding 138.4M 138.0M
Diluted Shares Outstanding 140.4M 138.8M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $460.0M $398.4M
YoY Change 15.46% 44.19%
Cash & Equivalents $465.3M $398.4M
Short-Term Investments
Other Short-Term Assets $197.5M $168.9M
YoY Change 16.93% -12.26%
Inventory $1.047B $732.3M
Prepaid Expenses
Receivables $844.6M $657.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.549B $1.957B
YoY Change 30.23% 2.11%
LONG-TERM ASSETS
Property, Plant & Equipment $918.2M $794.2M
YoY Change 15.61% -1.33%
Goodwill $2.471B $2.081B
YoY Change 18.7% -0.21%
Intangibles $1.421B $1.118B
YoY Change 27.07% -9.05%
Long-Term Investments
YoY Change
Other Assets $148.5M $217.1M
YoY Change -31.6% 62.62%
Total Long-Term Assets $5.147B $4.375B
YoY Change 17.65% -1.16%
TOTAL ASSETS
Total Short-Term Assets $2.549B $1.957B
Total Long-Term Assets $5.147B $4.375B
Total Assets $7.696B $6.332B
YoY Change 21.54% -0.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $697.5M $463.9M
YoY Change 50.36% -2.66%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.365B $952.8M
YoY Change 43.23% -43.79%
LONG-TERM LIABILITIES
Long-Term Debt $2.608B $2.246B
YoY Change 16.14% 34.81%
Other Long-Term Liabilities $507.6M $183.4M
YoY Change 176.77% 13.77%
Total Long-Term Liabilities $2.608B $2.429B
YoY Change 7.37% 32.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.365B $952.8M
Total Long-Term Liabilities $2.608B $2.429B
Total Liabilities $3.973B $3.869B
YoY Change 2.68% -3.24%
SHAREHOLDERS EQUITY
Retained Earnings $1.955B
YoY Change 18.6%
Common Stock $2.855B
YoY Change 2.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.237B
YoY Change 10.27%
Treasury Stock Shares
Shareholders Equity $3.044B $2.462B
YoY Change
Total Liabilities & Shareholders Equity $7.696B $6.332B
YoY Change 21.54% -0.17%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $217.2M $115.8M
YoY Change 87.56% -15.78%
Depreciation, Depletion And Amortization $47.50M $40.10M
YoY Change 18.45% 4.97%
Cash From Operating Activities $331.9M $274.3M
YoY Change 21.0% 35.99%
INVESTING ACTIVITIES
Capital Expenditures -$40.40M -$15.40M
YoY Change 162.34% -44.4%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$7.800M
YoY Change -100.0% -454.55%
Cash From Investing Activities -$40.40M -$23.20M
YoY Change 74.14% -9.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -192.2M -219.5M
YoY Change -12.44% 20.34%
NET CHANGE
Cash From Operating Activities 331.9M 274.3M
Cash From Investing Activities -40.40M -23.20M
Cash From Financing Activities -192.2M -219.5M
Net Change In Cash 99.30M 31.60M
YoY Change 214.24% -609.68%
FREE CASH FLOW
Cash From Operating Activities $331.9M $274.3M
Capital Expenditures -$40.40M -$15.40M
Free Cash Flow $372.3M $289.7M
YoY Change 28.51% 26.29%

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CY2020Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
300000
CY2020Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
10700000
us-gaap Restructuring Charges
RestructuringCharges
7900000
us-gaap Payments For Restructuring
PaymentsForRestructuring
8800000
CY2021Q2 us-gaap Restructuring Reserve
RestructuringReserve
6700000
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
6800000
us-gaap Payments For Restructuring
PaymentsForRestructuring
7600000
CY2020Q2 us-gaap Restructuring Reserve
RestructuringReserve
14100000
us-gaap Profit Loss
ProfitLoss
395000000.0
us-gaap Profit Loss
ProfitLoss
225000000.0
CY2021Q2 us-gaap Profit Loss
ProfitLoss
217200000
CY2020Q2 us-gaap Profit Loss
ProfitLoss
116200000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
100000
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
400000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
115800000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.85
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.62
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.81
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.61
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.55
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.83
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138500000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138600000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138400000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138000000.0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000.0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1200000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000.0
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
800000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140500000

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