2015 Q2 Form 10-Q Financial Statement

#000100865415000016 Filed on August 04, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $588.9M $674.3M
YoY Change -12.66% -2.05%
Cost Of Revenue $189.1M $225.7M
YoY Change -16.22% -0.13%
Gross Profit $399.8M $448.6M
YoY Change -10.88% -2.98%
Gross Profit Margin 67.89% 66.53%
Selling, General & Admin $310.1M $348.6M
YoY Change -11.04% -0.2%
% of Gross Profit 77.56% 77.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.60M $15.90M
YoY Change -1.89% 25.2%
% of Gross Profit 3.9% 3.54%
Operating Expenses $310.1M $348.6M
YoY Change -11.04% -0.2%
Operating Profit $99.00M $97.10M
YoY Change 1.96% -12.6%
Interest Expense $12.00M $11.60M
YoY Change 3.45% 12.62%
% of Operating Profit 12.12% 11.95%
Other Income/Expense, Net -$1.100M -$16.00M
YoY Change -93.13% 2185.71%
Pretax Income $86.40M $70.00M
YoY Change 23.43% -30.56%
Income Tax $24.40M $22.40M
% Of Pretax Income 28.24% 32.0%
Net Earnings $62.00M $47.60M
YoY Change 30.25% -37.61%
Net Earnings / Revenue 10.53% 7.06%
Basic Earnings Per Share $1.24 $0.95
Diluted Earnings Per Share $1.23 $0.93
COMMON SHARES
Basic Shares Outstanding 49.80M shares 50.20M shares
Diluted Shares Outstanding 50.40M shares 51.10M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.10M $82.70M
YoY Change -10.4% -26.42%
Cash & Equivalents $74.10M $82.70M
Short-Term Investments
Other Short-Term Assets $150.5M $129.4M
YoY Change 16.31% -18.1%
Inventory $299.1M $351.8M
Prepaid Expenses
Receivables $173.6M $191.1M
Other Receivables $28.00M $44.20M
Total Short-Term Assets $725.3M $799.2M
YoY Change -9.25% -2.89%
LONG-TERM ASSETS
Property, Plant & Equipment $262.9M $301.4M
YoY Change -12.77% 6.69%
Goodwill $157.5M $182.5M
YoY Change -13.7% -0.16%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change
Other Assets $27.60M $36.40M
YoY Change -24.18% 4.9%
Total Long-Term Assets $968.9M $1.098B
YoY Change -11.77% 10.11%
TOTAL ASSETS
Total Short-Term Assets $725.3M $799.2M
Total Long-Term Assets $968.9M $1.098B
Total Assets $1.694B $1.897B
YoY Change -10.7% 4.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $95.90M $121.9M
YoY Change -21.33% 8.07%
Accrued Expenses $326.8M $343.5M
YoY Change -4.86% -5.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $264.0M $299.1M
YoY Change -11.74% 62.64%
Total Short-Term Liabilities $686.7M $764.5M
YoY Change -10.18% 16.06%
LONG-TERM LIABILITIES
Long-Term Debt $609.3M $617.8M
YoY Change -1.38% -0.21%
Other Long-Term Liabilities $220.7M $229.6M
YoY Change -3.88% 11.13%
Total Long-Term Liabilities $220.7M $229.6M
YoY Change -3.88% 11.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $686.7M $764.5M
Total Long-Term Liabilities $220.7M $229.6M
Total Liabilities $907.4M $994.1M
YoY Change -8.72% 14.89%
SHAREHOLDERS EQUITY
Retained Earnings $1.368B $1.308B
YoY Change 4.61% 7.24%
Common Stock $600.0K $600.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $931.9M $898.3M
YoY Change 3.74% 22.04%
Treasury Stock Shares 13.72M shares 13.21M shares
Shareholders Equity $177.5M $285.4M
YoY Change
Total Liabilities & Shareholders Equity $1.694B $1.897B
YoY Change -10.7% 4.23%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $62.00M $47.60M
YoY Change 30.25% -37.61%
Depreciation, Depletion And Amortization $15.60M $15.90M
YoY Change -1.89% 25.2%
Cash From Operating Activities $35.90M $62.40M
YoY Change -42.47% 8.52%
INVESTING ACTIVITIES
Capital Expenditures -$13.90M -$16.80M
YoY Change -17.26% 14.29%
Acquisitions
YoY Change
Other Investing Activities $12.30M $1.300M
YoY Change 846.15% -80.3%
Cash From Investing Activities -$1.600M -$15.50M
YoY Change -89.68% 91.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -43.40M -37.60M
YoY Change 15.43% -51.11%
NET CHANGE
Cash From Operating Activities 35.90M 62.40M
Cash From Investing Activities -1.600M -15.50M
Cash From Financing Activities -43.40M -37.60M
Net Change In Cash -9.100M 9.300M
YoY Change -197.85% -133.82%
FREE CASH FLOW
Cash From Operating Activities $35.90M $62.40M
Capital Expenditures -$13.90M -$16.80M
Free Cash Flow $49.80M $79.20M
YoY Change -37.12% 9.7%

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us-gaap Basis Of Accounting
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Basis of Presentation:</font><font style="font-family:inherit;font-size:10pt;"> The condensed consolidated financial statements include the accounts of Tupperware Brands Corporation and its subsidiaries, collectively &#8220;Tupperware&#8221; or the &#8220;Company&#8221;, with all intercompany transactions and balances having been eliminated. These condensed consolidated financial statements and related notes should be read in conjunction with the audited </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;"> financial statements included in the Company's Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;27, 2014</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified to conform with current year presentation. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These condensed consolidated financial statements are unaudited and have been prepared following the rules and regulations of the United States Securities and Exchange Commission and, in the Company's opinion, reflect all adjustments, including normal recurring items that are necessary for a fair presentation of the results for the interim periods. Certain information and note disclosures normally included in the balance sheet, statements of income, comprehensive income and cash flows prepared in conformity with accounting principles generally accepted in the United States of America have been condensed or omitted as permitted by such rules and regulations. Operating results of any interim period presented herein are not necessarily indicative of the results that may be expected for a full fiscal year.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font></div></div>
us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates:</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates. </font></div></div>

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tup10q62715.htm Edgar Link pending
tup10q62715ex311.htm Edgar Link pending
tup10q62715ex312.htm Edgar Link pending
tup10q62715ex321.htm Edgar Link pending
tup10q62715ex322.htm Edgar Link pending