$FBIN
Fortune Brands Innovations, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021052308 Filed on October 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $1.986B $1.652B
YoY Change 20.23% 13.24%
Cost Of Revenue $1.280B $1.072B
YoY Change 19.46% 14.62%
Gross Profit $706.3M $580.6M
YoY Change 21.65% 10.76%
Gross Profit Margin 35.56% 35.14%
Selling, General & Admin $400.2M $328.3M
YoY Change 21.9% 5.46%
% of Gross Profit 56.66% 56.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $46.20M $39.30M
YoY Change 17.56% 7.08%
% of Gross Profit 6.54% 6.77%
Operating Expenses $416.1M $338.8M
YoY Change 22.82% 5.48%
Operating Profit $286.6M $240.2M
YoY Change 19.32% 42.98%
Interest Expense -$20.60M -$20.10M
YoY Change 2.49% -185.17%
% of Operating Profit -7.19% -8.37%
Other Income/Expense, Net $1.300M $2.100M
YoY Change -38.1% 600.0%
Pretax Income $267.3M $222.2M
YoY Change 20.3% 53.56%
Income Tax $65.20M $54.00M
% Of Pretax Income 24.39% 24.3%
Net Earnings $202.1M $164.6M
YoY Change 22.78% 55.87%
Net Earnings / Revenue 10.17% 9.96%
Basic Earnings Per Share $1.47 $1.19
Diluted Earnings Per Share $1.45 $1.17
COMMON SHARES
Basic Shares Outstanding 137.8M 138.6M
Diluted Shares Outstanding 139.7M 140.5M

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $460.7M $464.5M
YoY Change -0.82% 38.16%
Cash & Equivalents $460.7M $470.7M
Short-Term Investments
Other Short-Term Assets $215.2M $170.0M
YoY Change 26.59% -0.93%
Inventory $1.128B $738.3M
Prepaid Expenses
Receivables $921.8M $765.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.726B $2.138B
YoY Change 27.5% 12.13%
LONG-TERM ASSETS
Property, Plant & Equipment $934.7M $791.7M
YoY Change 18.06% -1.09%
Goodwill $2.467B $2.085B
YoY Change 18.29% 0.01%
Intangibles $1.401B $1.111B
YoY Change 26.11% -6.31%
Long-Term Investments
YoY Change
Other Assets $140.8M $226.0M
YoY Change -37.7% 59.49%
Total Long-Term Assets $5.143B $4.381B
YoY Change 17.39% 0.05%
TOTAL ASSETS
Total Short-Term Assets $2.726B $2.138B
Total Long-Term Assets $5.143B $4.381B
Total Assets $7.869B $6.519B
YoY Change 20.71% 3.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $735.7M $544.1M
YoY Change 35.21% 24.65%
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 $1.529B $1.135B
YoY Change 34.7% -17.55%
LONG-TERM LIABILITIES
Long-Term Debt $2.629B $2.087B
YoY Change 26.01% 7.05%
Other Long-Term Liabilities $190.2M $519.7M
YoY Change -63.4% 207.7%
Total Long-Term Liabilities $2.819B $2.606B
YoY Change 8.18% 23.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.529B $1.135B
Total Long-Term Liabilities $2.819B $2.606B
Total Liabilities $4.814B $3.890B
YoY Change 23.75% -1.48%
SHAREHOLDERS EQUITY
Retained Earnings $2.670B
YoY Change
Common Stock $2.997B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.558B
YoY Change
Treasury Stock Shares
Shareholders Equity $3.055B $2.629B
YoY Change
Total Liabilities & Shareholders Equity $7.869B $6.519B
YoY Change 20.71% 3.71%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $202.1M $164.6M
YoY Change 22.78% 55.87%
Depreciation, Depletion And Amortization $46.20M $39.30M
YoY Change 17.56% 7.08%
Cash From Operating Activities $168.1M $246.3M
YoY Change -31.75% 1.86%
INVESTING ACTIVITIES
Capital Expenditures -$47.20M -$23.90M
YoY Change 97.49% -13.09%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$47.20M -$23.90M
YoY Change 97.49% -12.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -115.7M -166.6M
YoY Change -30.55% 11.89%
NET CHANGE
Cash From Operating Activities 168.1M 246.3M
Cash From Investing Activities -47.20M -23.90M
Cash From Financing Activities -115.7M -166.6M
Net Change In Cash 5.200M 55.80M
YoY Change -90.68% -14.94%
FREE CASH FLOW
Cash From Operating Activities $168.1M $246.3M
Capital Expenditures -$47.20M -$23.90M
Free Cash Flow $215.3M $270.2M
YoY Change -20.32% 0.33%

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us-gaap Revenues
Revenues
5693400000
us-gaap Revenues
Revenues
4430600000
fbhs Percentage Of Change In Net Revenues
PercentageOfChangeInNetRevenues
0.285
us-gaap Operating Income Loss
OperatingIncomeLoss
829900000
us-gaap Operating Income Loss
OperatingIncomeLoss
568200000
fbhs Percentage Of Change In Operating Income
PercentageOfChangeInOperatingIncome
0.461
CY2021Q3 us-gaap Revenues
Revenues
1986300000
CY2020Q3 us-gaap Revenues
Revenues
1652100000
CY2021Q3 fbhs Percentage Of Change In Net Revenues
PercentageOfChangeInNetRevenues
0.202
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
286600000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
240200000
CY2021Q3 fbhs Percentage Of Change In Operating Income
PercentageOfChangeInOperatingIncome
0.193
us-gaap Restructuring Charges
RestructuringCharges
11500000
us-gaap Other Restructuring Costs
OtherRestructuringCosts
5900000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
17400000
us-gaap Restructuring Charges
RestructuringCharges
16500000
us-gaap Other Restructuring Costs
OtherRestructuringCosts
3500000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
20000000.0
CY2021Q3 us-gaap Restructuring Charges
RestructuringCharges
3600000
CY2021Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
1700000
CY2021Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
5300000
CY2020Q3 us-gaap Restructuring Charges
RestructuringCharges
1600000
CY2020Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
2400000
CY2020Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4000000.0
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
7600000
us-gaap Restructuring Charges
RestructuringCharges
11500000
us-gaap Payments For Restructuring
PaymentsForRestructuring
12700000
CY2021Q3 us-gaap Restructuring Reserve
RestructuringReserve
6400000
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
6800000
us-gaap Restructuring Charges
RestructuringCharges
16500000
us-gaap Payments For Restructuring
PaymentsForRestructuring
12800000
CY2020Q3 us-gaap Restructuring Reserve
RestructuringReserve
10500000
us-gaap Profit Loss
ProfitLoss
597100000
us-gaap Profit Loss
ProfitLoss
390800000
CY2021Q3 us-gaap Profit Loss
ProfitLoss
202100000
CY2020Q3 us-gaap Profit Loss
ProfitLoss
165800000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1300000
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1200000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
202100000
us-gaap Net Income Loss
NetIncomeLoss
597100000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
164600000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140200000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.32
us-gaap Net Income Loss
NetIncomeLoss
389500000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140000000.0
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139700000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140500000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.81
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.47
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.78
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.45
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.17
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138300000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138600000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137800000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138600000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1900000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1400000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1900000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1900000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1100000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000

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