$TAP
MOLSON COORS BEVERAGE CO

2021 Q3 Form 10-Q Financial Statement

#000002454521000027 Filed on October 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $3.435B $3.378B
YoY Change 1.69% -3.42%
Cost Of Revenue $1.629B $1.551B
YoY Change 5.04% -7.97%
Gross Profit $1.194B $1.203B
YoY Change -0.74% 4.0%
Gross Profit Margin 34.74% 35.59%
Selling, General & Admin $664.8M $634.5M
YoY Change 4.78% -8.07%
% of Gross Profit 55.7% 52.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $200.3M $220.7M
YoY Change -9.24% 4.25%
% of Gross Profit 16.78% 18.35%
Operating Expenses $664.8M $634.5M
YoY Change 4.78% -8.07%
Operating Profit $531.4M $508.3M
YoY Change 4.54% -314.2%
Interest Expense -$63.30M -$67.90M
YoY Change -6.77% 3.51%
% of Operating Profit -11.91% -13.36%
Other Income/Expense, Net -$400.0K $2.400M
YoY Change -116.67% -117.52%
Pretax Income $480.6M $450.4M
YoY Change 6.71% -245.95%
Income Tax $26.80M $104.0M
% Of Pretax Income 5.58% 23.09%
Net Earnings $453.0M $342.8M
YoY Change 32.15% -185.1%
Net Earnings / Revenue 13.19% 10.15%
Basic Earnings Per Share
Diluted Earnings Per Share $2.082M $1.580M
COMMON SHARES
Basic Shares Outstanding 217.2M shares 216.9M shares
Diluted Shares Outstanding 217.6M shares 217.0M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $616.3M $731.0M
YoY Change -15.69% 78.29%
Cash & Equivalents $616.3M $731.3M
Short-Term Investments
Other Short-Term Assets $505.5M $434.2M
YoY Change 16.42% 53.27%
Inventory $806.5M $657.7M
Prepaid Expenses
Receivables $808.3M $694.2M
Other Receivables $183.3M $123.0M
Total Short-Term Assets $2.920B $2.641B
YoY Change 10.58% 15.46%
LONG-TERM ASSETS
Property, Plant & Equipment $4.239B $4.180B
YoY Change 1.4% -5.68%
Goodwill $6.152B $7.624B
YoY Change -19.31% 0.99%
Intangibles $13.35B $13.41B
YoY Change -0.48% -1.3%
Long-Term Investments
YoY Change
Other Assets $1.114B $820.2M
YoY Change 35.76% -8.49%
Total Long-Term Assets $24.72B $26.03B
YoY Change -5.04% -1.62%
TOTAL ASSETS
Total Short-Term Assets $2.920B $2.641B
Total Long-Term Assets $24.72B $26.03B
Total Assets $27.64B $28.68B
YoY Change -3.6% -0.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.173B $3.021B
YoY Change 5.04% 15.66%
Accrued Expenses $46.80M $47.00M
YoY Change -0.43% 6.82%
Deferred Revenue
YoY Change
Short-Term Debt $51.80M $233.0M
YoY Change -77.77% -14.34%
Long-Term Debt Due $508.0M $1.009B
YoY Change -49.67% 9.52%
Total Short-Term Liabilities $3.780B $4.311B
YoY Change -12.31% 10.85%
LONG-TERM LIABILITIES
Long-Term Debt $6.661B $7.130B
YoY Change -6.57% -11.53%
Other Long-Term Liabilities $334.6M $492.2M
YoY Change -32.02% 5.13%
Total Long-Term Liabilities $6.996B $7.622B
YoY Change -8.21% -10.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.780B $4.311B
Total Long-Term Liabilities $6.996B $7.622B
Total Liabilities $14.12B $14.90B
YoY Change -5.23% -2.9%
SHAREHOLDERS EQUITY
Retained Earnings $7.396B $7.914B
YoY Change -6.55% 4.45%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $471.4M $471.4M
YoY Change 0.0% 0.0%
Treasury Stock Shares 9.500M shares 9.500M shares
Shareholders Equity $13.28B $13.51B
YoY Change
Total Liabilities & Shareholders Equity $27.64B $28.68B
YoY Change -3.6% -0.27%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $453.0M $342.8M
YoY Change 32.15% -185.1%
Depreciation, Depletion And Amortization $200.3M $220.7M
YoY Change -9.24% 4.25%
Cash From Operating Activities $519.2M $433.3M
YoY Change 19.82% -5.85%
INVESTING ACTIVITIES
Capital Expenditures -$151.5M -$111.3M
YoY Change 36.12% -24.18%
Acquisitions
YoY Change
Other Investing Activities -$1.500M $1.500M
YoY Change -200.0% -134.09%
Cash From Investing Activities -$153.0M -$109.8M
YoY Change 39.34% -27.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.046B -391.5M
YoY Change 167.1% 3.65%
NET CHANGE
Cash From Operating Activities 519.2M 433.3M
Cash From Investing Activities -153.0M -109.8M
Cash From Financing Activities -1.046B -391.5M
Net Change In Cash -679.5M -68.00M
YoY Change 899.26% -1.02%
FREE CASH FLOW
Cash From Operating Activities $519.2M $433.3M
Capital Expenditures -$151.5M -$111.3M
Free Cash Flow $670.7M $544.6M
YoY Change 23.15% -10.28%

Facts In Submission

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tap Loss Gain On Sale Or Impairment Of Properties And Intangibles
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tap Currentincome Tax Benefit Expense Cash Flow
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tap Proceeds From Repayments Of Revolving Credit Facilities
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Stock Issued During Period Value Share Based Compensation
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CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
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us-gaap Number Of Reportable Segments
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tap Paymentof Severance Obligations Term
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CY2020Q4 us-gaap Long Term Debt
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CY2020Q4 us-gaap Commercial Paper
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CY2020Q4 us-gaap Other Short Term Borrowings
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14000000.0 USD
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CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1006100000 USD
CY2021Q3 us-gaap Debt Current
DebtCurrent
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CY2020Q4 us-gaap Debt Current
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1020100000 USD
CY2020Q4 us-gaap Commercial Paper
CommercialPaper
0 USD
CY2020Q4 tap Number Of Overdraft Facilities
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2 overdraftFacility
CY2021Q3 tap Number Of Overdraft Facilities
NumberOfOverdraftFacilities
2 overdraftFacility
CY2021Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
7900000000 USD
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364000000.0 USD
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InventoryFinishedGoodsNetOfReserves
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CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
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77700000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
72700000 USD
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
262400000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
242200000 USD
CY2021Q3 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
102400000 USD
CY2020Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
82700000 USD
CY2021Q3 us-gaap Inventory Net
InventoryNet
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CY2020Q4 us-gaap Inventory Net
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us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P4Y
CY2021Q3 tap Accrual For Litigation Other Disputes And Environmental Loss Contingencies
AccrualForLitigationOtherDisputesAndEnvironmentalLossContingencies
15700000 USD
CY2020Q4 tap Accrual For Litigation Other Disputes And Environmental Loss Contingencies
AccrualForLitigationOtherDisputesAndEnvironmentalLossContingencies
17900000 USD
CY2019Q3 tap Number Of Derivative Complaints
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3 complaint
CY2019Q3 tap Number Of Derivative Complaints
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3 complaint
us-gaap Proceeds From Income Tax Refunds
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55000000 USD
CY2021Q3 tap Excise Tax Refund Receivable Noncurrent
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CY2021Q3 us-gaap Guarantee Obligations Maximum Exposure
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38000000 USD
CY2020Q4 us-gaap Guarantee Obligations Maximum Exposure
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38200000 USD
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CY2021Q3 us-gaap Operating Lease Liability Current
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46800000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
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47100000 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
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94100000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
106400000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
140900000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
153500000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
61900000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
60500000 USD
CY2021Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
4300000 USD
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
4100000 USD
CY2021Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
62900000 USD
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
59900000 USD
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
67200000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
64000000.0 USD
us-gaap Operating Lease Payments
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42200000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
39500000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3400000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
6700000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2400000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
29400000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
27400000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
18200000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
6500000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
4000000.0 USD

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