2014 Q2 Form 10-Q Financial Statement

#000119312514271225 Filed on July 17, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $878.2M $808.6M
YoY Change 8.61% 3.96%
Cost Of Revenue $426.1M $390.9M
YoY Change 9.0% 0.75%
Gross Profit $400.4M $373.2M
YoY Change 7.29% 6.66%
Gross Profit Margin 45.59% 46.15%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.70M $19.50M
YoY Change 1.03% 1.56%
% of Gross Profit 4.92% 5.23%
Operating Expenses $262.3M $255.4M
YoY Change 2.7% 4.12%
Operating Profit $172.9M $148.4M
YoY Change 16.51% 13.98%
Interest Expense $12.70M $13.80M
YoY Change -7.97% -0.72%
% of Operating Profit 7.35% 9.3%
Other Income/Expense, Net $300.0K -$1.700M
YoY Change -117.65% -1800.0%
Pretax Income $160.5M $132.9M
YoY Change 20.77% 14.18%
Income Tax $51.90M $42.50M
% Of Pretax Income 32.34% 31.98%
Net Earnings $106.1M $88.40M
YoY Change 20.02% 15.71%
Net Earnings / Revenue 12.08% 10.93%
Basic Earnings Per Share $1.83 $1.52
Diluted Earnings Per Share $1.80 $1.50
COMMON SHARES
Basic Shares Outstanding 58.13M shares 58.22M shares
Diluted Shares Outstanding 59.00M shares 58.96M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.8M $174.7M
YoY Change -33.71% 0.63%
Cash & Equivalents $115.8M $174.7M
Short-Term Investments
Other Short-Term Assets $193.0M $182.0M
YoY Change 6.04% 7.76%
Inventory $467.5M $418.1M
Prepaid Expenses
Receivables $565.8M $499.9M
Other Receivables $466.7M $411.5M
Total Short-Term Assets $1.809B $1.686B
YoY Change 7.27% 8.45%
LONG-TERM ASSETS
Property, Plant & Equipment $401.8M $375.1M
YoY Change 7.12% 3.73%
Goodwill $870.5M $823.9M
YoY Change 5.66% 4.8%
Intangibles $239.5M $243.2M
YoY Change -1.52% 4.56%
Long-Term Investments $14.50M $13.40M
YoY Change 8.21% -68.62%
Other Assets $57.20M $55.90M
YoY Change 2.33% -36.26%
Total Long-Term Assets $2.420B $2.275B
YoY Change 6.34% 4.04%
TOTAL ASSETS
Total Short-Term Assets $1.809B $1.686B
Total Long-Term Assets $2.420B $2.275B
Total Assets $4.228B $3.962B
YoY Change 6.73% 5.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $171.9M $157.6M
YoY Change 9.07% 11.46%
Accrued Expenses $46.60M $44.60M
YoY Change 4.48% -0.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $46.30M $114.9M
YoY Change -59.7% 709.15%
Total Short-Term Liabilities $696.7M $696.1M
YoY Change 0.09% 16.78%
LONG-TERM LIABILITIES
Long-Term Debt $861.5M $861.4M
YoY Change 0.01% -11.21%
Other Long-Term Liabilities $87.90M $83.90M
YoY Change 4.77% -9.59%
Total Long-Term Liabilities $949.4M $945.3M
YoY Change 0.43% -11.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $696.7M $696.1M
Total Long-Term Liabilities $949.4M $945.3M
Total Liabilities $1.956B $2.066B
YoY Change -5.33% -1.25%
SHAREHOLDERS EQUITY
Retained Earnings $2.474B $2.193B
YoY Change 12.82% 12.42%
Common Stock $67.40M $67.40M
YoY Change 0.0% 0.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $493.5M $445.5M
YoY Change 10.77% 11.12%
Treasury Stock Shares 9.269M shares 9.205M shares
Shareholders Equity $2.255B $1.879B
YoY Change
Total Liabilities & Shareholders Equity $4.228B $3.962B
YoY Change 6.73% 5.87%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $106.1M $88.40M
YoY Change 20.02% 15.71%
Depreciation, Depletion And Amortization $19.70M $19.50M
YoY Change 1.03% 1.56%
Cash From Operating Activities $124.4M $110.1M
YoY Change 12.99% 20.07%
INVESTING ACTIVITIES
Capital Expenditures -$22.70M -$16.70M
YoY Change 35.93% -7.22%
Acquisitions
YoY Change
Other Investing Activities -$97.00M -$90.80M
YoY Change 6.83% 129.87%
Cash From Investing Activities -$119.7M -$107.5M
YoY Change 11.35% 86.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.10M -40.50M
YoY Change -57.78% 101.49%
NET CHANGE
Cash From Operating Activities 124.4M 110.1M
Cash From Investing Activities -119.7M -107.5M
Cash From Financing Activities -17.10M -40.50M
Net Change In Cash -12.40M -37.90M
YoY Change -67.28% -368.79%
FREE CASH FLOW
Cash From Operating Activities $124.4M $110.1M
Capital Expenditures -$22.70M -$16.70M
Free Cash Flow $147.1M $126.8M
YoY Change 16.01% 15.59%

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dei Trading Symbol
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SNA
dei Entity Registrant Name
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SNAP-ON Inc
dei Amendment Flag
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dei Entity Filer Category
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Large Accelerated Filer
dei Document Fiscal Year Focus
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2014
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-06-28
dei Entity Central Index Key
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dei Current Fiscal Year End Date
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements in conformity with U.S. 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 financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> </div>
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