$GAP
GAP INC

2021 Q2 Form 10-Q Financial Statement

#000003991121000063 Filed on May 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $3.991B $2.107B
YoY Change 89.42% -43.15%
Cost Of Revenue $2.361B $1.839B
YoY Change 28.38% -22.14%
Gross Profit $1.630B $268.0M
YoY Change 508.21% -80.06%
Gross Profit Margin 40.84% 12.72%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $120.0M $130.0M
YoY Change -7.69% -5.8%
% of Gross Profit 7.36% 48.51%
Operating Expenses $1.390B $1.512B
YoY Change -8.07% 47.08%
Operating Profit $240.0M -$1.244B
YoY Change -119.29% -493.67%
Interest Expense $54.00M $19.00M
YoY Change 184.21% -5.0%
% of Operating Profit 22.5%
Other Income/Expense, Net
YoY Change
Pretax Income $187.0M -$1.259B
YoY Change -114.85% -516.89%
Income Tax $21.00M -$327.0M
% Of Pretax Income 11.23%
Net Earnings $166.0M -$932.0M
YoY Change -117.81% -510.57%
Net Earnings / Revenue 4.16% -44.23%
Basic Earnings Per Share $0.44 -$2.51
Diluted Earnings Per Share $0.43 -$2.51
COMMON SHARES
Basic Shares Outstanding 376.0M shares 372.0M shares
Diluted Shares Outstanding 385.0M shares 372.0M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.541B $1.079B
YoY Change 135.5% -11.05%
Cash & Equivalents $2.066B $1.028B
Short-Term Investments $475.0M $51.00M
Other Short-Term Assets $1.091B $920.0M
YoY Change 18.59% 21.53%
Inventory $2.370B $2.217B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.002B $4.216B
YoY Change 42.36% 0.09%
LONG-TERM ASSETS
Property, Plant & Equipment $2.839B $2.945B
YoY Change -3.6% -5.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $703.0M $698.0M
YoY Change 0.72% 27.61%
Total Long-Term Assets $7.602B $8.494B
YoY Change -10.5% -9.72%
TOTAL ASSETS
Total Short-Term Assets $6.002B $4.216B
Total Long-Term Assets $7.602B $8.494B
Total Assets $13.60B $12.71B
YoY Change 7.03% -6.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.530B $971.0M
YoY Change 57.57% -2.31%
Accrued Expenses $1.294B $1.051B
YoY Change 23.12% 19.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $500.0M
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.638B $3.431B
YoY Change 6.03% 21.19%
LONG-TERM LIABILITIES
Long-Term Debt $2.218B $1.250B
YoY Change 77.44% 0.08%
Other Long-Term Liabilities $4.942B $5.712B
YoY Change -13.48% -4.31%
Total Long-Term Liabilities $7.160B $6.962B
YoY Change 2.84% -3.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.638B $3.431B
Total Long-Term Liabilities $7.160B $6.962B
Total Liabilities $10.80B $10.39B
YoY Change 3.9% 3.42%
SHAREHOLDERS EQUITY
Retained Earnings $2.667B $2.235B
YoY Change 19.33% -36.05%
Common Stock $19.00M $19.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.806B $2.317B
YoY Change
Total Liabilities & Shareholders Equity $13.60B $12.71B
YoY Change 7.03% -6.68%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $166.0M -$932.0M
YoY Change -117.81% -510.57%
Depreciation, Depletion And Amortization $120.0M $130.0M
YoY Change -7.69% -5.8%
Cash From Operating Activities $340.0M -$940.0M
YoY Change -136.17% -3341.38%
INVESTING ACTIVITIES
Capital Expenditures $124.0M $122.0M
YoY Change 1.64% -26.06%
Acquisitions -$28.00M $0.00
YoY Change -100.0%
Other Investing Activities -$37.00M $238.0M
YoY Change -115.55%
Cash From Investing Activities -$161.0M $116.0M
YoY Change -238.79% -134.12%
FINANCING ACTIVITIES
Cash Dividend Paid $91.00M $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$98.00M $499.0M
YoY Change -119.64% -430.46%
NET CHANGE
Cash From Operating Activities $340.0M -$940.0M
Cash From Investing Activities -$161.0M $116.0M
Cash From Financing Activities -$98.00M $499.0M
Net Change In Cash $80.00M -$333.0M
YoY Change -124.02% -27.92%
FREE CASH FLOW
Cash From Operating Activities $340.0M -$940.0M
Capital Expenditures $124.0M $122.0M
Free Cash Flow $216.0M -$1.062B
YoY Change -120.34% 680.88%

Facts In Submission

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