$SEB
SEABOARD CORP /DE/

2019 Q2 Form 10-Q Financial Statement

#000008812119000032 Filed on July 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $1.822B $1.691B
YoY Change 7.75% 20.87%
Cost Of Revenue $1.676B $1.575B
YoY Change 6.41% 24.9%
Gross Profit $136.0M $116.0M
YoY Change 17.24% -15.94%
Gross Profit Margin 7.46% 6.86%
Selling, General & Admin $83.00M $84.00M
YoY Change -1.19% 16.67%
% of Gross Profit 61.03% 72.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.00M $35.00M
YoY Change -2.86% 29.63%
% of Gross Profit 25.0% 30.17%
Operating Expenses $83.00M $84.00M
YoY Change -1.19% 16.67%
Operating Profit $63.00M $32.00M
YoY Change 96.88% -51.52%
Interest Expense $12.00M $11.00M
YoY Change 9.09% -76.09%
% of Operating Profit 19.05% 34.38%
Other Income/Expense, Net $16.00M -$21.00M
YoY Change -176.19%
Pretax Income $69.00M $11.00M
YoY Change 527.27% -90.18%
Income Tax $11.00M $4.000M
% Of Pretax Income 15.94% 36.36%
Net Earnings $58.00M $7.000M
YoY Change 728.57% -91.76%
Net Earnings / Revenue 3.18% 0.41%
Basic Earnings Per Share $56.26 $6.28
Diluted Earnings Per Share $49.75M $5.833M
COMMON SHARES
Basic Shares Outstanding 1.166M 1.171M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.550B $1.345B
YoY Change 15.24% 1.2%
Cash & Equivalents $110.0M $79.00M
Short-Term Investments $1.440B $1.266B
Other Short-Term Assets $107.0M $126.0M
YoY Change -15.08% 15.6%
Inventory $871.0M $874.0M
Prepaid Expenses
Receivables $546.0M $521.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.074B $2.866B
YoY Change 7.26% -0.69%
LONG-TERM ASSETS
Property, Plant & Equipment $1.288B $1.104B
YoY Change 16.67% 7.81%
Goodwill $165.0M
YoY Change
Intangibles
YoY Change
Long-Term Investments $783.0M $849.0M
YoY Change -7.77% 8.02%
Other Assets $138.0M $357.0M
YoY Change -61.34% 283.87%
Total Long-Term Assets $2.827B $2.310B
YoY Change 22.38% 20.19%
TOTAL ASSETS
Total Short-Term Assets $3.074B $2.866B
Total Long-Term Assets $2.827B $2.310B
Total Assets $5.901B $5.176B
YoY Change 14.01% 7.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $262.0M $238.0M
YoY Change 10.08% 46.01%
Accrued Expenses $98.00M
YoY Change
Deferred Revenue $37.00M
YoY Change
Short-Term Debt $160.0M $141.0M
YoY Change 13.48% -0.7%
Long-Term Debt Due $54.00M $24.00M
YoY Change 125.0% 33.33%
Total Short-Term Liabilities $905.0M $742.0M
YoY Change 21.97% -1.59%
LONG-TERM LIABILITIES
Long-Term Debt $734.0M $508.0M
YoY Change 44.49% 1.8%
Other Long-Term Liabilities $236.0M $362.0M
YoY Change -34.81% 73.21%
Total Long-Term Liabilities $1.577B $870.0M
YoY Change 81.26% 22.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $905.0M $742.0M
Total Long-Term Liabilities $1.577B $870.0M
Total Liabilities $2.482B $1.773B
YoY Change 39.99% 13.44%
SHAREHOLDERS EQUITY
Retained Earnings $3.823B
YoY Change
Common Stock $1.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.409B $3.403B
YoY Change
Total Liabilities & Shareholders Equity $5.901B $5.176B
YoY Change 14.01% 7.65%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $58.00M $7.000M
YoY Change 728.57% -91.76%
Depreciation, Depletion And Amortization $34.00M $35.00M
YoY Change -2.86% 29.63%
Cash From Operating Activities $146.0M $56.00M
YoY Change 160.71% -1033.33%
INVESTING ACTIVITIES
Capital Expenditures -$73.00M -$22.00M
YoY Change 231.82% -38.89%
Acquisitions
YoY Change
Other Investing Activities $74.00M $5.000M
YoY Change 1380.0% -155.56%
Cash From Investing Activities $1.000M -$17.00M
YoY Change -105.88% -62.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -96.00M -60.00M
YoY Change 60.0% -415.79%
NET CHANGE
Cash From Operating Activities 146.0M 56.00M
Cash From Investing Activities 1.000M -17.00M
Cash From Financing Activities -96.00M -60.00M
Net Change In Cash 51.00M -21.00M
YoY Change -342.86% -34.38%
FREE CASH FLOW
Cash From Operating Activities $146.0M $56.00M
Capital Expenditures -$73.00M -$22.00M
Free Cash Flow $219.0M $78.00M
YoY Change 180.77% 160.0%

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<p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:6pt 0pt 0pt 0pt;"><i style="font-style:italic;">Use of Estimates</i></p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt;">The preparation of the condensed consolidated financial statements in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include those related to allowance for doubtful accounts, valuation of inventories, impairment of long-lived assets, potential write-down related to investments in and advances to affiliates and notes receivable from affiliates, income taxes, lease liabilities and right of use (“ROU”) assets and accrued pension liability. Actual results could differ from those estimates.</p>
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