2015 Q4 Form 10-Q Financial Statement

#000100865415000024 Filed on November 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $592.1M $521.0M $588.7M
YoY Change -12.91% -11.5% -2.4%
Cost Of Revenue $191.2M $172.5M $209.2M
YoY Change -15.96% -17.54% 4.81%
Gross Profit $400.9M $348.5M $379.5M
YoY Change -11.38% -8.17% -5.97%
Gross Profit Margin 67.71% 66.89% 64.46%
Selling, General & Admin $305.6M $288.5M $321.7M
YoY Change -7.76% -10.32% -1.14%
% of Gross Profit 76.23% 82.78% 84.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.80M $15.60M $16.10M
YoY Change -1.25% -3.11% 17.52%
% of Gross Profit 3.94% 4.48% 4.24%
Operating Expenses $305.6M $288.5M $321.7M
YoY Change -7.76% -10.32% -1.14%
Operating Profit $95.30M $61.70M $55.20M
YoY Change -21.3% 11.78% -27.75%
Interest Expense $73.70M $11.30M $11.90M
YoY Change 190.16% -5.04% 15.53%
% of Operating Profit 77.33% 18.31% 21.56%
Other Income/Expense, Net -$85.30M -$300.0K $3.800M
YoY Change 145.82% -107.89% -353.33%
Pretax Income $81.70M $50.60M $47.90M
YoY Change -25.39% 5.64% -26.53%
Income Tax $23.60M $14.40M $15.60M
% Of Pretax Income 28.89% 28.46% 32.57%
Net Earnings $58.10M $36.20M $32.30M
YoY Change -29.4% 12.07% -35.27%
Net Earnings / Revenue 9.81% 6.95% 5.49%
Basic Earnings Per Share $1.16 $0.72 $0.64
Diluted Earnings Per Share $1.15 $0.72 $0.63
COMMON SHARES
Basic Shares Outstanding 50.36M shares 49.90M shares 50.20M shares
Diluted Shares Outstanding 50.30M shares 51.00M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.80M $93.10M $89.40M
YoY Change 3.64% 4.14% -29.05%
Cash & Equivalents $79.80M $93.10M $89.40M
Short-Term Investments
Other Short-Term Assets $49.40M $166.4M $142.7M
YoY Change -12.72% 16.61% -10.48%
Inventory $254.6M $285.7M $348.1M
Prepaid Expenses
Receivables $142.7M $158.6M $180.2M
Other Receivables $24.00M $24.50M $39.30M
Total Short-Term Assets $550.5M $728.3M $799.7M
YoY Change -13.24% -8.93% -6.53%
LONG-TERM ASSETS
Property, Plant & Equipment $253.6M $254.7M $292.8M
YoY Change -12.64% -13.01% 0.62%
Goodwill $146.3M $148.7M $178.0M
YoY Change -11.17% -16.46% -4.15%
Intangibles $82.70M
YoY Change -21.76%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change
Other Assets $27.00M $27.70M $34.50M
YoY Change -15.63% -19.71% 13.86%
Total Long-Term Assets $1.423B $935.0M $1.070B
YoY Change 25.33% -12.62% 4.44%
TOTAL ASSETS
Total Short-Term Assets $550.5M $728.3M $799.7M
Total Long-Term Assets $1.423B $935.0M $1.070B
Total Assets $1.973B $1.663B $1.870B
YoY Change 11.5% -11.04% -0.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $126.7M $94.70M $106.0M
YoY Change -11.27% -10.66% -3.2%
Accrued Expenses $324.8M $327.8M $357.8M
YoY Change -13.46% -8.38% -1.95%
Deferred Revenue
YoY Change
Short-Term Debt $160.4M $0.00 $0.00
YoY Change -26.79%
Long-Term Debt Due $162.5M $286.2M $314.6M
YoY Change -26.6% -9.03% 7.45%
Total Short-Term Liabilities $614.0M $708.7M $778.4M
YoY Change -16.97% -8.95% 1.46%
LONG-TERM LIABILITIES
Long-Term Debt $608.2M $608.9M $616.4M
YoY Change -0.64% -1.22% -0.42%
Other Long-Term Liabilities $215.0M $221.0M $219.0M
YoY Change -7.49% 0.91% -1.31%
Total Long-Term Liabilities $215.0M $221.0M $219.0M
YoY Change -7.49% 0.91% -1.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $614.0M $708.7M $778.4M
Total Long-Term Liabilities $215.0M $221.0M $219.0M
Total Liabilities $829.0M $929.7M $997.4M
YoY Change -14.7% -6.79% 0.84%
SHAREHOLDERS EQUITY
Retained Earnings $1.371B $1.364B $1.301B
YoY Change 1.71% 4.82% 5.5%
Common Stock $600.0K $600.0K $600.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $894.3M $922.9M $900.7M
YoY Change -5.37% 2.46% 8.54%
Treasury Stock Shares 13.17M shares 13.59M shares 13.23M shares
Shareholders Equity $161.0M $124.7M $256.0M
YoY Change
Total Liabilities & Shareholders Equity $1.598B $1.663B $1.870B
YoY Change -9.7% -11.04% -0.55%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $58.10M $36.20M $32.30M
YoY Change -29.4% 12.07% -35.27%
Depreciation, Depletion And Amortization $15.80M $15.60M $16.10M
YoY Change -1.25% -3.11% 17.52%
Cash From Operating Activities $153.5M $48.10M $45.00M
YoY Change -21.28% 6.89% -17.58%
INVESTING ACTIVITIES
Capital Expenditures -$18.70M -$14.60M -$14.80M
YoY Change -20.09% -1.35% -22.51%
Acquisitions
YoY Change
Other Investing Activities $500.0K $3.100M $600.0K
YoY Change -50.0% 416.67% -53.85%
Cash From Investing Activities -$18.20M -$11.50M -$14.20M
YoY Change -18.75% -19.01% -20.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -141.9M -9.900M -18.50M
YoY Change -18.21% -46.49% -19.21%
NET CHANGE
Cash From Operating Activities 153.5M 48.10M 45.00M
Cash From Investing Activities -18.20M -11.50M -14.20M
Cash From Financing Activities -141.9M -9.900M -18.50M
Net Change In Cash -6.600M 26.70M 12.30M
YoY Change 633.33% 117.07% -11.51%
FREE CASH FLOW
Cash From Operating Activities $153.5M $48.10M $45.00M
Capital Expenditures -$18.70M -$14.60M -$14.80M
Free Cash Flow $172.2M $62.70M $59.80M
YoY Change -21.15% 4.85% -18.86%

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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>
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UseOfEstimates
<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>

Files In Submission

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