2018 Q4 Form 10-Q Financial Statement

#000163745918000124 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q3
Revenue $6.891B $6.637B
YoY Change 0.2% -2.3%
Cost Of Revenue $4.675B $4.123B
YoY Change 2.66% -3.26%
Gross Profit $2.216B $2.156B
YoY Change -3.1% -14.82%
Gross Profit Margin 32.16% 32.48%
Selling, General & Admin $16.35B $665.0M
YoY Change 2001.8% -25.7%
% of Gross Profit 737.91% 30.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $271.0M $255.0M
YoY Change 12.45% -28.57%
% of Gross Profit 12.23% 11.83%
Operating Expenses $16.35B $665.0M
YoY Change 2001.8% -25.7%
Operating Profit -$14.14B $1.491B
YoY Change -1036.78% -8.86%
Interest Expense $325.0M $306.0M
YoY Change 5.52% 15.91%
% of Operating Profit 20.52%
Other Income/Expense, Net -$13.00M $127.0M
YoY Change -111.21% -2216.67%
Pretax Income -$14.47B $1.312B
YoY Change -1199.01% -3.95%
Income Tax -$1.846B $400.0M
% Of Pretax Income 30.49%
Net Earnings -$12.57B $913.0M
YoY Change -257.32% -3.89%
Net Earnings / Revenue -182.38% 13.76%
Basic Earnings Per Share -$10.30 $0.95
Diluted Earnings Per Share -$10.30 $0.74
COMMON SHARES
Basic Shares Outstanding 1.219B shares 1.218B shares
Diluted Shares Outstanding 1.228B shares

Balance Sheet

Concept 2018 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.130B $1.445B
YoY Change -30.63% -65.9%
Cash & Equivalents $1.130B $1.441B
Short-Term Investments
Other Short-Term Assets $1.221B $547.0M
YoY Change 86.41% -43.55%
Inventory $2.667B $3.136B
Prepaid Expenses $400.0M $368.0M
Receivables $2.129B $938.0M
Other Receivables $152.0M $521.0M
Total Short-Term Assets $9.075B $7.127B
YoY Change 26.02% -23.75%
LONG-TERM ASSETS
Property, Plant & Equipment $7.078B $6.902B
YoY Change 0.24% 7.46%
Goodwill $36.50B $44.86B
YoY Change -18.57% 0.49%
Intangibles $49.47B $59.38B
YoY Change -16.77% -0.63%
Long-Term Investments
YoY Change
Other Assets $1.337B $1.531B
YoY Change -15.0% 1.32%
Total Long-Term Assets $94.39B $112.8B
YoY Change -16.39% 0.39%
TOTAL ASSETS
Total Short-Term Assets $9.075B $7.127B
Total Long-Term Assets $94.39B $112.8B
Total Assets $103.5B $119.9B
YoY Change -13.85% -1.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.153B $3.888B
YoY Change -4.79% 31.35%
Accrued Expenses $1.130B $1.057B
YoY Change 1.99% -25.77%
Deferred Revenue
YoY Change
Short-Term Debt $21.00M $457.0M
YoY Change -95.45% -29.15%
Long-Term Debt Due $377.0M $19.00M
YoY Change -86.21% -99.1%
Total Short-Term Liabilities $7.503B $9.450B
YoY Change -26.11% -1.49%
LONG-TERM LIABILITIES
Long-Term Debt $30.77B $29.98B
YoY Change 8.7% -0.08%
Other Long-Term Liabilities $902.0M $715.0M
YoY Change -17.1% -10.74%
Total Long-Term Liabilities $902.0M $715.0M
YoY Change -17.1% -10.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.503B $9.450B
Total Long-Term Liabilities $902.0M $715.0M
Total Liabilities $51.68B $61.09B
YoY Change -4.32% -4.0%
SHAREHOLDERS EQUITY
Retained Earnings -$4.853B $1.280B
YoY Change -157.13% 386.69%
Common Stock $12.00M $12.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $282.0M $223.0M
YoY Change 25.89% 443.9%
Treasury Stock Shares 4.000M shares
Shareholders Equity $51.66B $58.60B
YoY Change
Total Liabilities & Shareholders Equity $103.5B $119.9B
YoY Change -13.85% -1.46%

Cashflow Statement

Concept 2018 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$12.57B $913.0M
YoY Change -257.32% -3.89%
Depreciation, Depletion And Amortization $271.0M $255.0M
YoY Change 12.45% -28.57%
Cash From Operating Activities $1.696B $437.0M
YoY Change 249.69% -76.17%
INVESTING ACTIVITIES
Capital Expenditures -$232.0M -$322.0M
YoY Change -2.52% 52.61%
Acquisitions
YoY Change
Other Investing Activities $35.00M $611.0M
YoY Change -94.93% 1075.0%
Cash From Investing Activities -$197.0M $289.0M
YoY Change -143.49% -281.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.726B -2.506B
YoY Change 135.79% 60.44%
NET CHANGE
Cash From Operating Activities 1.696B 437.0M
Cash From Investing Activities -197.0M 289.0M
Cash From Financing Activities -1.726B -2.506B
Net Change In Cash -227.0M -1.780B
YoY Change -210.19% -1675.22%
FREE CASH FLOW
Cash From Operating Activities $1.696B $437.0M
Capital Expenditures -$232.0M -$322.0M
Free Cash Flow $1.928B $759.0M
YoY Change 166.67% -62.89%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Subsequent Events</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 24, 2018, we entered into an agreement with Zydus Wellness Limited (&#8220;Zydus&#8221;) and Cadila Healthcare Limited (&#8220;Cadila&#8221;) (collectively, the &#8220;Buyers&#8221;) to sell </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> of our equity interests in Heinz India Private Limited (&#8220;Heinz India&#8221;) for approximately </font><font style="font-family:inherit;font-size:10pt;">$625 million</font><font style="font-family:inherit;font-size:10pt;"> (the &#8220;Heinz India Transaction&#8221;). In connection with the Heinz India Transaction, we will transfer to the Buyers, among other assets and operations, our global intellectual property rights to several brands, including Complan, Glucon-D, Nycil, and Sampriti. Our core brands (i.e., Heinz and Kraft) will not be transferred. While this transaction is contingent on customary closing conditions, including regulatory approvals, we expect the Heinz India Transaction to be finalized in early 2019. </font></div></div>

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