2013 Q4 Form 10-Q Financial Statement

#000001691814000006 Filed on January 09, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4
Revenue $1.594B $860.4M
YoY Change 85.2% 9.05%
Cost Of Revenue $833.6M $456.1M
YoY Change 82.77% 9.17%
Gross Profit $609.7M $310.8M
YoY Change 96.17% 9.86%
Gross Profit Margin 38.26% 36.12%
Selling, General & Admin $245.9M $152.0M
YoY Change 61.78% 24.79%
% of Gross Profit 40.33% 48.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.10M $29.50M
YoY Change 42.71% 4.24%
% of Gross Profit 6.91% 9.49%
Operating Expenses $245.9M $152.0M
YoY Change 61.78% 24.79%
Operating Profit $363.8M $158.8M
YoY Change 129.09% -0.94%
Interest Expense $91.60M $63.20M
YoY Change 44.94% 36.5%
% of Operating Profit 25.18% 39.8%
Other Income/Expense, Net
YoY Change
Pretax Income $292.2M $149.9M
YoY Change 94.93% -10.4%
Income Tax $81.20M $40.40M
% Of Pretax Income 27.79% 26.95%
Net Earnings $211.0M $109.5M
YoY Change 92.69% 4.48%
Net Earnings / Revenue 13.24% 12.73%
Basic Earnings Per Share
Diluted Earnings Per Share $952.6K $513.6K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.00M $201.0M
YoY Change -67.16% 258.93%
Cash & Equivalents $65.20M $200.5M
Short-Term Investments $1.000M
Other Short-Term Assets $91.00M $145.0M
YoY Change -37.24% 107.14%
Inventory $1.824B $1.596B
Prepaid Expenses
Receivables $669.0M $539.1M
Other Receivables $106.0M $0.00
Total Short-Term Assets $2.835B $2.481B
YoY Change 14.3% 13.84%
LONG-TERM ASSETS
Property, Plant & Equipment $1.905B $1.237B
YoY Change 54.07% -1.2%
Goodwill $6.150B $2.738B
YoY Change 124.58%
Intangibles $3.237B $876.6M
YoY Change 269.29%
Long-Term Investments $81.90M $226.5M
YoY Change -63.84% 1.48%
Other Assets $208.3M $340.1M
YoY Change -38.75% 15.29%
Total Long-Term Assets $11.50B $5.842B
YoY Change 96.86% 15.77%
TOTAL ASSETS
Total Short-Term Assets $2.835B $2.481B
Total Long-Term Assets $11.50B $5.842B
Total Assets $14.34B $8.323B
YoY Change 72.26% 15.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $462.4M $300.4M
YoY Change 53.93% 10.85%
Accrued Expenses $932.0M $421.0M
YoY Change 121.38% 10.5%
Deferred Revenue
YoY Change
Short-Term Debt $171.0M $17.00M
YoY Change 905.88% -95.17%
Long-Term Debt Due $67.10M $49.90M
YoY Change 34.47% -71.32%
Total Short-Term Liabilities $1.755B $787.8M
YoY Change 122.77% -33.12%
LONG-TERM LIABILITIES
Long-Term Debt $6.897B $3.929B
YoY Change 75.55% 52.4%
Other Long-Term Liabilities $184.5M $212.3M
YoY Change -13.09% -10.42%
Total Long-Term Liabilities $7.082B $4.141B
YoY Change 71.0% 47.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.755B $787.8M
Total Long-Term Liabilities $7.082B $4.141B
Total Liabilities $8.837B $4.929B
YoY Change 79.28% 7.46%
SHAREHOLDERS EQUITY
Retained Earnings $4.281B $2.413B
YoY Change 77.38%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.664B $1.679B
YoY Change -0.89%
Treasury Stock Shares
Shareholders Equity $4.790B $2.775B
YoY Change
Total Liabilities & Shareholders Equity $14.34B $8.323B
YoY Change 72.26% 15.19%

Cashflow Statement

Concept 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income $211.0M $109.5M
YoY Change 92.69% 4.48%
Depreciation, Depletion And Amortization $42.10M $29.50M
YoY Change 42.71% 4.24%
Cash From Operating Activities $140.1M $20.50M
YoY Change 583.41% -83.39%
INVESTING ACTIVITIES
Capital Expenditures $36.70M $16.60M
YoY Change 121.08% 11.41%
Acquisitions
YoY Change
Other Investing Activities -$1.400M $400.0K
YoY Change -450.0% -101.31%
Cash From Investing Activities -$38.10M -$16.20M
YoY Change 135.19% -64.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -155.7M 17.90M
YoY Change -969.83% -158.31%
NET CHANGE
Cash From Operating Activities 140.1M 20.50M
Cash From Investing Activities -38.10M -16.20M
Cash From Financing Activities -155.7M 17.90M
Net Change In Cash -53.70M 22.20M
YoY Change -341.89% -52.97%
FREE CASH FLOW
Cash From Operating Activities $140.1M $20.50M
Capital Expenditures $36.70M $16.60M
Free Cash Flow $103.4M $3.900M
YoY Change 2551.28% -96.41%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ACCOUNTING GUIDANCE NOT YET ADOPTED:</font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">Liabilities &#8211;</font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In February 2013, the FASB issued guidance for the recognition, measurement and disclosure of certain obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. The Company is required to adopt this guidance for its annual and interim periods beginning March 1, 2014. In addition, this guidance requires retrospective application. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.</font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">Foreign currency &#8211;</font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In March 2013, the FASB issued amended guidance to clarify the applicable guidance for the release of foreign currency cumulative translation adjustments under generally accepted accounting principles in the U.S. The amended guidance clarifies when cumulative translation adjustments should be released into net income in connection with (i) the loss of a controlling financial interest in a subsidiary or group of assets within a foreign entity or (ii) the partial sale of an equity method investment that is a foreign entity. The amended guidance also clarifies the types of events that result in the sale of an investment in a foreign entity. The Company is required to adopt this amended guidance for its annual and interim periods beginning March 1, 2014. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.</font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">Income taxes &#8211;</font></div><div style="line-height:120%;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">In July 2013, the FASB issued amended guidance to clarify the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists as of the reporting date. The Company is required to adopt this amended guidance for its annual and interim periods beginning March 1, 2014. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.</font></div></div>
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Period End Date
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dei Document Type
DocumentType
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dei Entity Central Index Key
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dei Entity Filer Category
EntityFilerCategory
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dei Entity Registrant Name
EntityRegistrantName
CONSTELLATION BRANDS, INC.

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