$SON
SONOCO PRODUCTS CO

2017 Q2 Form 10-Q Financial Statement

#000009176717000026 Filed on May 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q2
Revenue $1.172B $1.226B
YoY Change -4.4% -1.79%
Cost Of Revenue $949.3M $981.0M
YoY Change -3.23% -2.7%
Gross Profit $223.0M $245.3M
YoY Change -9.08% 2.05%
Gross Profit Margin 19.02% 20.0%
Selling, General & Admin $125.2M $134.2M
YoY Change -6.69% 2.53%
% of Gross Profit 56.15% 54.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.01M $53.57M
YoY Change -8.52% 2.83%
% of Gross Profit 21.98% 21.84%
Operating Expenses $125.2M $134.2M
YoY Change -6.69% 2.53%
Operating Profit $93.66M $101.8M
YoY Change -8.03% 2.88%
Interest Expense $13.09M $14.19M
YoY Change -7.78% -0.34%
% of Operating Profit 13.97% 13.93%
Other Income/Expense, Net -$3.700M
YoY Change
Pretax Income $77.92M $88.05M
YoY Change -11.51% 3.12%
Income Tax $25.54M $29.19M
% Of Pretax Income 32.78% 33.16%
Net Earnings $53.73M $59.91M
YoY Change -10.32% -6.94%
Net Earnings / Revenue 4.58% 4.89%
Basic Earnings Per Share $0.54 $0.59
Diluted Earnings Per Share $0.53 $0.59
COMMON SHARES
Basic Shares Outstanding 100.1M shares 99.25M shares 101.6M shares
Diluted Shares Outstanding 101.0M shares 102.3M shares

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $212.8M $153.1M
YoY Change 38.99% -29.71%
Cash & Equivalents $212.8M $152.3M
Short-Term Investments $100.0K $700.0K
Other Short-Term Assets $41.80M $47.30M
YoY Change -11.63% -50.42%
Inventory $430.4M $402.5M
Prepaid Expenses $41.83M $48.04M
Receivables $663.3M $679.5M
Other Receivables $43.00M $38.10M
Total Short-Term Assets $1.391B $1.320B
YoY Change 5.36% -8.86%
LONG-TERM ASSETS
Property, Plant & Equipment $1.155B $1.122B
YoY Change 2.97% 0.67%
Goodwill $1.157B $1.155B
YoY Change 0.15% -0.51%
Intangibles $273.9M $239.9M
YoY Change 14.17% -9.71%
Long-Term Investments
YoY Change
Other Assets $166.0M $157.8M
YoY Change 5.22% -8.5%
Total Long-Term Assets $2.799B $2.728B
YoY Change 2.62% -1.06%
TOTAL ASSETS
Total Short-Term Assets $1.391B $1.320B
Total Long-Term Assets $2.799B $2.728B
Total Assets $4.190B $4.048B
YoY Change 3.52% -3.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $521.8M $495.2M
YoY Change 5.37% -5.12%
Accrued Expenses $265.8M $281.5M
YoY Change -5.58% -4.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $76.70M $117.1M
YoY Change -34.5% -20.23%
Total Short-Term Liabilities $882.4M $916.3M
YoY Change -3.7% -5.57%
LONG-TERM LIABILITIES
Long-Term Debt $1.177B $1.016B
YoY Change 15.89% -9.67%
Other Long-Term Liabilities $39.30M $39.44M
YoY Change -0.34% -14.04%
Total Long-Term Liabilities $39.30M $39.44M
YoY Change -0.34% -14.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $882.4M $916.3M
Total Long-Term Liabilities $39.30M $39.44M
Total Liabilities $921.7M $955.7M
YoY Change -3.56% -5.95%
SHAREHOLDERS EQUITY
Retained Earnings $1.959B $1.828B
YoY Change 7.13% 3.0%
Common Stock $326.5M $399.3M
YoY Change -18.23% -1.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.585B $1.564B
YoY Change
Total Liabilities & Shareholders Equity $4.190B $4.048B
YoY Change 3.52% -3.74%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q2
OPERATING ACTIVITIES
Net Income $53.73M $59.91M
YoY Change -10.32% -6.94%
Depreciation, Depletion And Amortization $49.01M $53.57M
YoY Change -8.52% 2.83%
Cash From Operating Activities $67.40M $66.39M
YoY Change 1.52% -41.15%
INVESTING ACTIVITIES
Capital Expenditures $50.46M $55.69M
YoY Change -9.39% -221.85%
Acquisitions $221.4M $0.00
YoY Change
Other Investing Activities -$219.8M $2.600M
YoY Change -8553.85% -116.88%
Cash From Investing Activities -$270.3M -$53.05M
YoY Change 409.47% -13.18%
FINANCING ACTIVITIES
Cash Dividend Paid $36.84M $35.40M
YoY Change 4.08%
Common Stock Issuance & Retirement, Net $5.539M $18.37M
YoY Change -69.85%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $154.0M -$39.97M
YoY Change -485.33% 35.04%
NET CHANGE
Cash From Operating Activities $67.40M $66.39M
Cash From Investing Activities -$270.3M -$53.05M
Cash From Financing Activities $154.0M -$39.97M
Net Change In Cash -$48.84M -$26.63M
YoY Change 83.38% -220.51%
FREE CASH FLOW
Cash From Operating Activities $67.40M $66.39M
Capital Expenditures $50.46M $55.69M
Free Cash Flow $16.94M $10.70M
YoY Change 58.32% -93.25%

Facts In Submission

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CY2017Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1286950000 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
22347000 USD
CY2017Q2 us-gaap Minority Interest
MinorityInterest
23624000 USD
CY2016Q2 us-gaap Net Cash Provided By Used In Financing Activities
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-39972000 USD
CY2017Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
154023000 USD
CY2017Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-270258000 USD
CY2016Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
66387000 USD
CY2017Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
67398000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
59914000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
53733000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
276000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
597000 USD
CY2017Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
101832000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
89973000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
155115000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
165979000 USD
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
1412000 USD
CY2017Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
680000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
1900000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-2949000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
30828000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
30836000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
38676000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
39186000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-5948000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-11299000 USD
CY2016Q4 us-gaap Other Derivatives Not Designated As Hedging Instruments At Fair Value Net
OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNet
-696000 USD
CY2017Q2 us-gaap Other Derivatives Not Designated As Hedging Instruments At Fair Value Net
OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNet
-633000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
38092000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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43553000 USD
CY2017Q2 us-gaap Other Receivables
OtherReceivables
43003000 USD
CY2016Q2 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-46000 USD
CY2017Q2 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-133000 USD
CY2016Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
18931000 USD
CY2017Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5539000 USD
CY2016Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
35396000 USD
CY2017Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
36840000 USD
CY2016Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2017Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
221417000 USD
CY2016Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
55685000 USD
CY2017Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
50455000 USD
CY2016Q2 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
32042000 USD
CY2017Q2 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
43557000 USD
CY2016Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
10657000 USD
CY2017Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
12353000 USD
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
447339000 USD
CY2017Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
419180000 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
49764000 USD
CY2017Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
41831000 USD
CY2016Q4 us-gaap Price Risk Cash Flow Hedge Derivative At Fair Value Net
PriceRiskCashFlowHedgeDerivativeAtFairValueNet
3636000 USD
CY2017Q2 us-gaap Price Risk Cash Flow Hedge Derivative At Fair Value Net
PriceRiskCashFlowHedgeDerivativeAtFairValueNet
1923000 USD
CY2017Q2 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
1671000 USD
CY2016Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
559000 USD
CY2017Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2016Q2 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
13787000 USD
CY2017Q2 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
170297000 USD
CY2016Q2 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
0 USD
CY2017Q2 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
41000000 USD
CY2016Q2 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2592000 USD
CY2017Q2 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1481000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
60190000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
54330000 USD
CY2017Q2 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
17637000 USD
CY2016Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
9228000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1060017000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1155192000 USD
CY2016Q2 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
10993000 USD
CY2017Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
4111000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1942513000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1958577000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1226276000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1172324000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
134193000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
126138000 USD
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4840000 USD
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3026000 USD
CY2017Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
0 USD
CY2016Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000 shares
CY2017Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2970000 shares
CY2016 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2030000 shares
CY2017Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2016 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
100000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1532358000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
1585243000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1554705000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1608867000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-2400000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102329000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100980000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101628000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100112000 shares

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