2022 Q4 Form 10-K Financial Statement

#000010049322000097 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $13.74B $53.28B
YoY Change 7.23% 13.25%
Cost Of Revenue $12.43B $46.61B
YoY Change 21.03% 15.03%
Gross Profit $1.307B $6.668B
YoY Change -48.56% 2.18%
Gross Profit Margin 9.51% 12.51%
Selling, General & Admin $541.0M $2.258B
YoY Change -4.59% 6.01%
% of Gross Profit 41.39% 33.86%
Research & Development $108.0M
YoY Change -5.26%
% of Gross Profit 1.62%
Depreciation & Amortization $310.0M $1.191B
YoY Change 0.65% -0.33%
% of Gross Profit 23.72% 17.86%
Operating Expenses $541.0M $2.366B
YoY Change -4.59% 5.44%
Operating Profit $766.0M $4.410B
YoY Change -61.2% 0.32%
Interest Expense -$76.00M -$348.0M
YoY Change -24.75% -17.14%
% of Operating Profit -9.92% -7.89%
Other Income/Expense, Net -$24.00M -$261.0M
YoY Change -188.89% -26.48%
Pretax Income $666.0M $4.149B
YoY Change -63.71% 2.67%
Income Tax $129.0M $900.0M
% Of Pretax Income 19.37% 21.69%
Net Earnings $538.0M $3.238B
YoY Change -60.3% 6.27%
Net Earnings / Revenue 3.92% 6.08%
Basic Earnings Per Share
Diluted Earnings Per Share $1.494M $8.92
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 358.0M shares 363.0M shares

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.031B $1.031B
YoY Change -58.88% -58.88%
Cash & Equivalents $1.031B $1.031B
Short-Term Investments
Other Short-Term Assets $508.0M $508.0M
YoY Change -4.69% -4.69%
Inventory $5.514B $5.514B
Prepaid Expenses
Receivables $2.577B $2.577B
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.630B $9.630B
YoY Change -1.95% -1.95%
LONG-TERM ASSETS
Property, Plant & Equipment $8.685B $9.192B
YoY Change 10.82% 9.85%
Goodwill $10.51B
YoY Change -0.34%
Intangibles $6.252B
YoY Change -4.1%
Long-Term Investments $477.0M
YoY Change 36.29%
Other Assets $1.741B $1.234B
YoY Change 10.05% 17.41%
Total Long-Term Assets $27.19B $27.19B
YoY Change 2.66% 2.66%
TOTAL ASSETS
Total Short-Term Assets $9.630B $9.630B
Total Long-Term Assets $27.19B $27.19B
Total Assets $36.82B $36.82B
YoY Change 1.41% 1.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.483B $2.483B
YoY Change 11.6% 11.6%
Accrued Expenses $1.210B $1.355B
YoY Change -17.35% -16.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $459.0M $459.0M
YoY Change -56.98% -56.98%
Total Short-Term Liabilities $5.313B $5.313B
YoY Change -16.0% -16.0%
LONG-TERM LIABILITIES
Long-Term Debt $7.862B $7.862B
YoY Change -5.06% -5.06%
Other Long-Term Liabilities $1.377B $1.377B
YoY Change -16.75% -16.75%
Total Long-Term Liabilities $1.377B $9.239B
YoY Change -16.75% -7.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.313B $5.313B
Total Long-Term Liabilities $1.377B $9.239B
Total Liabilities $6.690B $17.12B
YoY Change -16.15% -7.89%
SHAREHOLDERS EQUITY
Retained Earnings $20.08B
YoY Change 14.75%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.683B
YoY Change 13.17%
Treasury Stock Shares 83.00M shares
Shareholders Equity $19.70B $19.70B
YoY Change
Total Liabilities & Shareholders Equity $36.82B $36.82B
YoY Change 1.41% 1.41%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $538.0M $3.238B
YoY Change -60.3% 6.27%
Depreciation, Depletion And Amortization $310.0M $1.191B
YoY Change 0.65% -0.33%
Cash From Operating Activities $797.0M $2.687B
YoY Change -32.69% -30.03%
INVESTING ACTIVITIES
Capital Expenditures -$564.0M $1.887B
YoY Change 61.14% 56.08%
Acquisitions $75.00M $0.00
YoY Change
Other Investing Activities -$46.00M -$130.0M
YoY Change -103.86% 4.0%
Cash From Investing Activities -$610.0M -$1.935B
YoY Change -172.53% -3436.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -195.0M -$2.323B
YoY Change -83.6% -14.94%
NET CHANGE
Cash From Operating Activities 797.0M $2.687B
Cash From Investing Activities -610.0M -$1.935B
Cash From Financing Activities -195.0M -$2.323B
Net Change In Cash -8.000M -$1.606B
YoY Change -100.96% -237.15%
FREE CASH FLOW
Cash From Operating Activities $797.0M $2.687B
Capital Expenditures -$564.0M $1.887B
Free Cash Flow $1.361B $800.0M
YoY Change -11.28% -69.59%

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Description of BusinessTyson Foods, Inc. (collectively, “Company,” “we,” “us” or “our”), is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under four generations of family leadership, the Company has a broad portfolio of products and brands including Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp® and State Fair®. We innovate continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do.
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<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fiscal Year</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We utilize a 52- or 53-week accounting period ending on the Saturday closest to September 30. The Company’s accounting cycle resulted in a 52-week year for fiscal 2022 and fiscal 2021 and a 53-week year for fiscal 2020.</span></div>
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<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States, which require us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</span></div>
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PricewaterhouseCoopers LLP
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Fayetteville, Arkansas
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238

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