2023 Q4 Form 10-K Financial Statement

#000153095023000350 Filed on November 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023
Revenue $1.966B $1.945B $6.991B
YoY Change 25.51% 23.2% 19.48%
Cost Of Revenue $1.393B $1.394B $5.109B
YoY Change 21.01% 17.49% 16.55%
Gross Profit $572.6M $551.4M $1.882B
YoY Change 38.01% 40.45% 28.22%
Gross Profit Margin 29.13% 28.34% 26.92%
Selling, General & Admin $322.9M $309.5M $1.078B
YoY Change 41.19% 38.29% 19.2%
% of Gross Profit 56.39% 56.13% 57.31%
Research & Development $22.90M
YoY Change 21.16%
% of Gross Profit 1.22%
Depreciation & Amortization $112.4M $113.8M $407.1M
YoY Change 21.38% 20.17% 7.08%
% of Gross Profit 19.63% 20.64% 21.63%
Operating Expenses $322.9M $356.2M $1.101B
YoY Change 41.19% 36.63% 19.24%
Operating Profit $209.3M $195.2M $598.9M
YoY Change 39.63% 47.99% 44.1%
Interest Expense $78.10M -$57.20M $279.1M
YoY Change 18.51% -21.43% -12.18%
% of Operating Profit 37.31% -29.3% 46.6%
Other Income/Expense, Net $3.500M -$20.20M $7.600M
YoY Change -71.54% -448.28% -61.62%
Pretax Income $116.7M $94.90M $412.9M
YoY Change -1.44% -35.27% -53.88%
Income Tax $28.50M $29.30M $99.70M
% Of Pretax Income 24.42% 30.87% 24.15%
Net Earnings $88.10M $65.70M $301.3M
YoY Change -4.13% -21.69% -60.18%
Net Earnings / Revenue 4.48% 3.38% 4.31%
Basic Earnings Per Share $1.46 $5.21
Diluted Earnings Per Share $1.35 $0.97 $4.82
COMMON SHARES
Basic Shares Outstanding 60.35M shares 61.22M shares 60.00M shares
Diluted Shares Outstanding 67.30M shares 67.00M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $150.6M $93.00M $93.00M
YoY Change -84.24% -90.95% -90.95%
Cash & Equivalents $150.6M $93.30M $93.00M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $98.60M $83.00M $83.00M
YoY Change -7.07% -18.63% -18.63%
Inventory $824.8M $789.9M $790.0M
Prepaid Expenses
Receivables $586.7M $512.0M $450.0M
Other Receivables $0.00 $0.00 $62.00M
Total Short-Term Assets $1.661B $1.479B $1.479B
YoY Change -24.42% -33.5% -33.48%
LONG-TERM ASSETS
Property, Plant & Equipment $2.125B $2.021B $2.198B
YoY Change 20.96% 15.38% 17.24%
Goodwill $4.652B $4.574B
YoY Change 5.35% 5.17%
Intangibles $3.263B $3.212B
YoY Change 20.51% 18.44%
Long-Term Investments
YoY Change
Other Assets $372.2M $360.0M $184.0M
YoY Change 34.08% 34.93% 27.87%
Total Long-Term Assets $10.41B $10.17B $10.17B
YoY Change 13.69% 11.93% 11.93%
TOTAL ASSETS
Total Short-Term Assets $1.661B $1.479B $1.479B
Total Long-Term Assets $10.41B $10.17B $10.17B
Total Assets $12.07B $11.65B $11.65B
YoY Change 6.32% 3.0% 3.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $412.6M $368.8M $354.0M
YoY Change -3.21% -18.53% -2.24%
Accrued Expenses $345.0M
YoY Change 27.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $1.100M $1.000M
YoY Change 0.0% 0.0% -9.09%
Total Short-Term Liabilities $835.3M $805.3M $805.0M
YoY Change 5.98% -2.25% -2.28%
LONG-TERM LIABILITIES
Long-Term Debt $6.314B $6.039B $6.039B
YoY Change 7.26% 1.38% 1.38%
Other Long-Term Liabilities $285.7M $276.7M $277.0M
YoY Change 18.84% 3.67% 3.78%
Total Long-Term Liabilities $6.600B $6.316B $6.316B
YoY Change 7.71% 1.48% 1.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $835.3M $805.3M $805.0M
Total Long-Term Liabilities $6.600B $6.316B $6.316B
Total Liabilities $8.120B $7.795B $7.805B
YoY Change 6.74% 0.77% -3.09%
SHAREHOLDERS EQUITY
Retained Earnings $1.505B $1.417B
YoY Change 25.28% 27.73%
Common Stock $900.0K $900.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.765B $2.728B
YoY Change 16.9% 16.53%
Treasury Stock Shares
Shareholders Equity $3.944B $3.842B $3.842B
YoY Change
Total Liabilities & Shareholders Equity $12.07B $11.65B $11.65B
YoY Change 6.32% 3.0% 3.0%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023
OPERATING ACTIVITIES
Net Income $88.10M $65.70M $301.3M
YoY Change -4.13% -21.69% -60.18%
Depreciation, Depletion And Amortization $112.4M $113.8M $407.1M
YoY Change 21.38% 20.17% 7.08%
Cash From Operating Activities $174.4M $269.8M $750.3M
YoY Change 77.42% 64.01% 96.11%
INVESTING ACTIVITIES
Capital Expenditures $80.80M $101.1M $303.0M
YoY Change 54.49% -214.89% -218.68%
Acquisitions $252.7M $715.2M
YoY Change 2783.87%
Other Investing Activities $300.0K -$300.0K $300.0K
YoY Change 0.0% -400.0% -175.0%
Cash From Investing Activities -$333.8M -$101.4M -$669.3M
YoY Change 529.81% 15.36% 202.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $67.60M $306.9M
YoY Change -25.47% -80.37%
Cash From Financing Activities $206.3M -276.0M -$555.7M
YoY Change -828.98% -210.75% 43.7%
NET CHANGE
Cash From Operating Activities $174.4M 269.8M $750.3M
Cash From Investing Activities -$333.8M -101.4M -$669.3M
Cash From Financing Activities $206.3M -276.0M -$555.7M
Net Change In Cash $48.80M -107.6M -$472.9M
YoY Change 146.46% -133.03% 102.01%
FREE CASH FLOW
Cash From Operating Activities $174.4M $269.8M $750.3M
Capital Expenditures $80.80M $101.1M $303.0M
Free Cash Flow $93.60M $168.7M $447.3M
YoY Change 103.48% -33.19% -29.88%

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CY2022 us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
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CY2021 post Payments To Trust Account
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Proceeds From Issuance Initial Public Offering
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CY2022 post Premiums Received From Issuance Of Long Term Debt
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CY2021 post Premiums Received From Issuance Of Long Term Debt
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CY2021 us-gaap Payments Of Debt Extinguishment Costs
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CY2023 post Redemption Of Post Holdings Partnering Corporation Series A Common Stock
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CY2022 post Redemption Of Post Holdings Partnering Corporation Series A Common Stock
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CY2021 post Redemption Of Post Holdings Partnering Corporation Series A Common Stock
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CY2021 post Proceeds From Share Repurchase Contracts
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CY2023 post Distributions To From Bell Ring Brands Inc Net
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CY2022 post Distributions To From Bell Ring Brands Inc Net
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CY2021 post Distributions To From Bell Ring Brands Inc Net
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 post Disposal Group Including Discontinued Operation Other Operating Income Net
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates and Allocations —</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The consolidated financial statements of the Company are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which require certain elections as to accounting policy, estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the dates of the financial statements and the reported amount of net revenues and expenses during the reporting periods. Significant accounting policy elections, estimates and assumptions include, among others, allowance for trade promotions, business combinations, pension and benefit plan assumptions, valuation assumptions of goodwill and other intangible assets and income taxes. Actual results could differ from those estimates.</span>
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CY2021 post Disposal Group Including Discontinued Operation Loss On Extinguishment And Refinancing Of Debt Net
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CY2022 post Cost Of Goods Sold Storage And Warehouse Costs
CostOfGoodsSoldStorageAndWarehouseCosts
204000000.0 usd
CY2021 post Cost Of Goods Sold Storage And Warehouse Costs
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CY2022 post Payment Of Merger Consideration
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CY2021 post Net Earnings From Discontinued Operations Net Of Tax And Noncontrolling Interest
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CY2022 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
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8.93
CY2021 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
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1.48
CY2023 post Proceeds From Sale Of Business
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