2016 Form 10-K Financial Statement
#000110465917074227 Filed on December 20, 2017
Income Statement
| Concept | 2016 | 2015 |
|---|---|---|
| Revenue | $9.523B | $9.264B |
| YoY Change | 2.8% | -0.56% |
| Cost Of Revenue | $7.365B | $7.455B |
| YoY Change | -1.21% | -3.82% |
| Gross Profit | $2.158B | $1.809B |
| YoY Change | 19.33% | 15.57% |
| Gross Profit Margin | 22.66% | 19.52% |
| Selling, General & Admin | $872.0M | $743.6M |
| YoY Change | 17.26% | 14.24% |
| % of Gross Profit | 40.4% | 41.11% |
| Research & Development | $34.70M | |
| YoY Change | ||
| % of Gross Profit | 1.61% | |
| Depreciation & Amortization | $132.0M | $133.4M |
| YoY Change | -1.07% | 2.54% |
| % of Gross Profit | 6.11% | 7.38% |
| Operating Expenses | $906.7M | $743.6M |
| YoY Change | 21.93% | 14.24% |
| Operating Profit | $1.324B | $1.065B |
| YoY Change | 24.31% | 16.51% |
| Interest Expense | $12.87M | $13.70M |
| YoY Change | -6.05% | 69.14% |
| % of Operating Profit | 0.97% | 1.29% |
| Other Income/Expense, Net | $6.191M | |
| YoY Change | ||
| Pretax Income | $1.317B | $1.057B |
| YoY Change | 24.61% | 14.63% |
| Income Tax | $426.7M | $369.9M |
| % Of Pretax Income | 32.39% | 34.99% |
| Net Earnings | $890.1M | $686.1M |
| YoY Change | 29.73% | 13.84% |
| Net Earnings / Revenue | 9.35% | 7.41% |
| Basic Earnings Per Share | $1.68 | $1.30 |
| Diluted Earnings Per Share | $1.64 | $1.27 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 529.3M shares | 528.1M |
| Diluted Shares Outstanding | 542.5M shares | 541.0M |
Balance Sheet
| Concept | 2016 | 2015 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $415.1M | $347.2M |
| YoY Change | 19.56% | 3.89% |
| Cash & Equivalents | $415.1M | $347.2M |
| Short-Term Investments | ||
| Other Short-Term Assets | $19.50M | $110.7M |
| YoY Change | -82.38% | 1.65% |
| Inventory | $985.7M | $993.3M |
| Prepaid Expenses | ||
| Receivables | $591.3M | $605.7M |
| Other Receivables | $18.30M | $6.100M |
| Total Short-Term Assets | $2.030B | $2.063B |
| YoY Change | -1.6% | -3.27% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.105B | $1.012B |
| YoY Change | 9.26% | 0.99% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $239.6M | $259.0M |
| YoY Change | -7.49% | -2.08% |
| Other Assets | $257.4M | $279.4M |
| YoY Change | -7.87% | 1.49% |
| Total Long-Term Assets | $4.340B | $4.077B |
| YoY Change | 6.46% | 22.69% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $2.030B | $2.063B |
| Total Long-Term Assets | $4.340B | $4.077B |
| Total Assets | $6.370B | $6.140B |
| YoY Change | 3.75% | 12.54% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $481.8M | $495.3M |
| YoY Change | -2.73% | 2.33% |
| Accrued Expenses | $567.0M | $526.9M |
| YoY Change | 7.61% | 13.29% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $185.0M |
| YoY Change | -100.0% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $1.053B | $1.214B |
| YoY Change | -13.25% | 27.16% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $250.0M | $250.0M |
| YoY Change | 0.0% | 0.0% |
| Other Long-Term Liabilities | $615.5M | $610.3M |
| YoY Change | 0.85% | -0.75% |
| Total Long-Term Liabilities | $865.5M | $860.3M |
| YoY Change | 0.6% | -0.53% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $1.053B | $1.214B |
| Total Long-Term Liabilities | $865.5M | $860.3M |
| Total Liabilities | $1.922B | $2.142B |
| YoY Change | -10.25% | 15.77% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $4.448B | $3.998B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $6.370B | $6.140B |
| YoY Change | 3.75% | 12.54% |
Cashflow Statement
| Concept | 2016 | 2015 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $890.1M | $686.1M |
| YoY Change | 29.73% | 13.84% |
| Depreciation, Depletion And Amortization | $132.0M | $133.4M |
| YoY Change | -1.07% | 2.54% |
| Cash From Operating Activities | $1.040B | $992.0M |
| YoY Change | 4.84% | 32.82% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $255.5M | -$144.1M |
| YoY Change | -277.32% | -9.43% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$153.4M | -$756.9M |
| YoY Change | -79.73% | 65.41% |
| Cash From Investing Activities | -$408.5M | -$900.9M |
| YoY Change | -54.66% | 46.06% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $87.89M | |
| YoY Change | ||
| Debt Paid & Issued, Net | $0.00 | |
| YoY Change | ||
| Cash From Financing Activities | -$557.3M | -70.60M |
| YoY Change | 689.38% | -69.22% |
| NET CHANGE | ||
| Cash From Operating Activities | $1.040B | 992.0M |
| Cash From Investing Activities | -$408.5M | -900.9M |
| Cash From Financing Activities | -$557.3M | -70.60M |
| Net Change In Cash | $74.24M | 20.50M |
| YoY Change | 262.16% | -120.64% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $1.040B | $992.0M |
| Capital Expenditures | $255.5M | -$144.1M |
| Free Cash Flow | $784.5M | $1.136B |
| YoY Change | -30.95% | 25.4% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
347239000 | |
| CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
415143000 | |
| CY2016 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
67904000 | |
| CY2016 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
8387000 | |
| CY2017Q4 | us-gaap |
Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
|
26585000 | |
| CY2016 | hrl |
Decrease Increase In Investments Equity In Affiliates And Other Assets
DecreaseIncreaseInInvestmentsEquityInAffiliatesAndOtherAssets
|
11078000 | |
| CY2016 | hrl |
Noncash Investment Activities
NoncashInvestmentActivities
|
1287000 | |
| CY2015 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.50 | |
| CY2016 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
819417000 | |
| CY2016 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
205000 | |
| CY2016 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
819622000 | |
| CY2016 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
7365049000 | |
| CY2016 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
44327000 | |
| CY2016 | us-gaap |
Depreciation
Depreciation
|
123581000 | |
| CY2015 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.30 | |
| CY2016 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.68 | |
| CY2015 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.27 | |
| CY2016 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
-6339000 | |
| CY2016 | us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
47657000 | |
| CY2016 | us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
47657000 | |
| CY2016 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-80000 | |
| CY2016 | us-gaap |
Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
|
991000 | |
| CY2016 | us-gaap |
Gross Profit
GrossProfit
|
2158175000 | |
| CY2016 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1317215000 | |
| CY2016 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
38685000 | |
| CY2016 | us-gaap |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
|
-7505000 | |
| CY2016 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
426698000 | |
| CY2016 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-40783000 | |
| CY2016 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-21389000 | |
| CY2016 | us-gaap |
Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
|
1525000 | |
| CY2016 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
12281000 | |
| CY2016 | us-gaap |
Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
|
-34510000 | |
| CY2016 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-13235000 | |
| CY2016 | us-gaap |
Interest Expense
InterestExpense
|
12871000 | |
| CY2016 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-509646000 | |
| CY2016 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-408959000 | |
| CY2016 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
992848000 | |
| CY2016 | us-gaap |
Net Income Loss
NetIncomeLoss
|
890052000 | |
| CY2016 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
465000 | |
| CY2016 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
6191000 | |
| CY2016 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1323895000 | |
| CY2016 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
5109000 | |
| CY2016 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-6718000 | |
| CY2016 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-70895000 | |
| CY2016 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
69286000 | |
| CY2016 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
87885000 | |
| CY2016 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
296493000 | |
| CY2016 | us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
280889000 | |
| CY2016 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
255524000 | |
| CY2016 | us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
110149000 | |
| CY2016 | us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
6227000 | |
| CY2016 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
245000000 | |
| CY2016 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
12075000 | |
| CY2016 | us-gaap |
Profit Loss
ProfitLoss
|
890517000 | |
| CY2016 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
430000000 | |
| CY2016 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
9523224000 | |
| CY2016 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
871974000 | |
| CY2016 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
17829000 | |
| CY2015 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
541002000 | |
| CY2016 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
542473000 | |
| CY2015 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
528143000 |
