$UDN
INVESCO DB US DOLLAR INDEX BEARISH FUND

2016 Q1 Form 10-K Financial Statement

#000119312516482676 Filed on February 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q3
Revenue $25.33K $1.983K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $86.06K $78.05K
YoY Change 11.65% -27.55%
Operating Profit -$60.73K -$82.98K -$76.07K
YoY Change -18.5% -32.24% -26.86%
Interest Expense $255.00 $284.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $2.019M -$762.7K -$358.4K
YoY Change -152.0% -77.88% -91.06%
Net Earnings / Revenue 7968.41% -18074.13%
Basic Earnings Per Share $0.92 -$0.54 -$0.19
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 2.200M shares 2.400M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $3.086M $6.561M $17.01M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $43.06M $53.01M
YoY Change -1.79% 5.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $4.491M $302.2K
YoY Change 326.75% -94.0%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $49.16M $38.57M $52.71M
YoY Change
Total Liabilities & Shareholders Equity $43.06M $53.01M
YoY Change -1.79% 5.52%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $2.019M -$762.7K -$358.4K
YoY Change -152.0% -77.88% -91.06%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$4.272M
YoY Change 3.97%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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ReturnAtMarketValue
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1.0000 pure
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0.0081 pure
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CY2015 us-gaap Nature Of Operations
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>(3) Fund Investment Overview</b></font></p> <p style="MARGIN-BOTTOM: 0px; PADDING-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund establishes short positions in certain futures contracts (the &#x201C;DX Contracts&#x201D;) with a view to tracking the changes, whether positive or negative, in the level of the Deutsche Bank Short US Dollar Index (USDX<font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">&#xAE;</sup></font>) Futures Index&#x2013;Excess Return (the &#x201C;Short Index&#x201D; or the &#x201C;Index&#x201D;) over time. The performance of the Fund also is intended to reflect the excess, if any, of its interest income from its holdings of United States Treasury Obligations over the expenses of the Fund. The Index is calculated to reflect the changes in market value over time, whether positive or negative, of short positions in DX Contracts. DX Contracts are traded through the currency markets of ICE Futures U.S. (formerly known as the New York Board of Trade<font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">&#xAE;</sup></font>), under the symbol &#x201C;DX.&#x201D; The changes in market value over time, whether positive or negative, of the DX Contracts are related to the changes, whether positive or negative, in the level of the U.S.&#xA0;Dollar Index<font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">&#xAE;</sup></font> (the &#x201C;USDX<font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">&#xAE;</sup></font>&#x201D;). The Index provides a general indication of the international value of the U.S. dollar relative to the six major world currencies (each an &#x201C;Index Currency,&#x201D; and collectively, the &#x201C;Index Currencies&#x201D;), which comprise the USDX<font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">&#xAE;</sup></font>&#x2014;Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.</font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund holds United States Treasury Obligations for deposit with the Commodity Broker (as defined below) as margin. The Fund does not borrow money to increase leverage. As of December&#xA0;31, 2015 and December&#xA0;31, 2014, the Fund had $1,843,588 (or 4.28% of its total assets) and $43,841,021 (or 100.00% of its total assets), respectively, of its holdings of cash, United States Treasury Obligations and unrealized appreciation/depreciation on futures contracts on deposit with its Commodity Broker. Of this, $1,843,588 (or 4.28% of its total assets) and $752,895 (or 1.72% of its total assets) was required to be deposited to satisfy maintenance margin required by the Commodity Broker for the Fund&#x2019;s short futures positions on DX Contracts as of December&#xA0;31, 2015 and December&#xA0;31, 2014, respectively. All remaining cash and United States Treasury Obligations are on deposit with the Custodian (see Note 4). For additional information, please see the Schedules of Investments as of December&#xA0;31, 2015 and December&#xA0;31, 2014 for details of the Fund&#x2019;s portfolio holdings.</font></p> </div>
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CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
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CY2015 dei Entity Filer Category
EntityFilerCategory
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CY2015 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 dei Entity Registrant Name
EntityRegistrantName
POWERSHARES DB US DOLLAR INDEX BEARISH FUND
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
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OperatingIncomeLoss
-312963
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592655
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CY2015 us-gaap Distributed Earnings
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CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2015 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
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CY2015 us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%; MARGIN-TOP: 18px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>(b) Use of Estimates</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosure of contingent assets and liabilities during the reporting period of the financial statements and accompanying notes. Actual results could differ from those estimates. There were no significant estimates used in the preparation of these financial statements.</font></p> </div>
CY2015 dei Trading Symbol
TradingSymbol
UDN
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EarningsPerShareBasic
-2.35
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InterestIncomeOperating
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CY2015 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
2525
CY2015 us-gaap Interest Paid
InterestPaid
1012
CY2015 us-gaap Operating Expenses
OperatingExpenses
325547
CY2015 us-gaap Interest Expense
InterestExpense
1012
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
3947066
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
34873999
CY2015 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-18031
CY2015 us-gaap Floor Brokerage Exchange And Clearance Fees
FloorBrokerageExchangeAndClearanceFees
9388
CY2015 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
35228697
CY2015 us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
-1428
CY2015 us-gaap Professional Fees
ProfessionalFees
315147
CY2015 us-gaap Proceeds From Sale Of Securities Operating Activities
ProceedsFromSaleOfSecuritiesOperatingActivities
171498561
CY2015 udn Stockholders Equity Period Increase Decrease Due To Share Transactions
StockholdersEquityPeriodIncreaseDecreaseDueToShareTransactions
-354698
CY2015 udn Average Net Assets To Net Investment Income Loss
AverageNetAssetsToNetInvestmentIncomeLoss
-0.0075 pure
CY2015 udn Return At Net Asset Value
ReturnAtNetAssetValue
-0.0989 pure
CY2015 udn Net Investment Income Loss Per Share
NetInvestmentIncomeLossPerShare
-0.16
CY2015 udn Gain Loss On Investments Per Share
GainLossOnInvestmentsPerShare
-2.19
CY2015 udn Number Of Shares Issued Per Basket
NumberOfSharesIssuedPerBasket
200000 shares
CY2015 udn Return At Market Value
ReturnAtMarketValue
-0.0984 pure
CY2015 udn Minimum Number Of Baskets Of Shares That Can Be Purchased
MinimumNumberOfBasketsOfSharesThatCanBePurchased
1 Basket
CY2015 udn Management Fee Per Annum Of Daily Net Assets
ManagementFeePerAnnumOfDailyNetAssets
0.0075 pure
CY2015 udn Minimum Number Of Baskets Of Shares That Can Be Redeemed
MinimumNumberOfBasketsOfSharesThatCanBeRedeemed
1 Basket
CY2015 udn Average Charges Paid To Broker Per Round Turn Trade Maximum
AverageChargesPaidToBrokerPerRoundTurnTradeMaximum
6.00
CY2015 udn Percentage Of Assets Held By Broker
PercentageOfAssetsHeldByBroker
0.0428 pure
CY2015 udn Cash Transferred
CashTransferred
2052858
CY2015 udn Average Net Assets To Expenses
AverageNetAssetsToExpenses
0.0078 pure
CY2014Q2 us-gaap Gain Loss On Investments
GainLossOnInvestments
404503
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
299239
CY2015 udn Proceeds From Payments To Commodity Broker
ProceedsFromPaymentsToCommodityBroker
1658499
CY2015 udn Increase Decrease In Brokerage Payable
IncreaseDecreaseInBrokeragePayable
-156009
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2014Q1 us-gaap Interest Income Operating
InterestIncomeOperating
8231
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-149393
CY2014Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-37157
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-112236
CY2014Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-5495161
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.26
CY2015Q1 us-gaap Interest Income Operating
InterestIncomeOperating
2580
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-3881870
CY2015Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-3807359
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-74511
CY2015Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
227182
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2014Q2 us-gaap Interest Income Operating
InterestIncomeOperating
5446
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-105264
CY2014Q2 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
5159568
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.64
CY2015Q2 us-gaap Interest Income Operating
InterestIncomeOperating
2206
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
1134794
CY2015Q2 us-gaap Gain Loss On Investments
GainLossOnInvestments
1214196
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-79402
CY2015Q2 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-3145185
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.08
CY2014Q3 us-gaap Interest Income Operating
InterestIncomeOperating
3720
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-4008699
CY2014Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-3904693
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-104006
CY2014Q3 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-9165524
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2015Q3 us-gaap Interest Income Operating
InterestIncomeOperating
1983
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-358410
CY2015Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-282343
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-76067
CY2015Q3 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
12839290
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.34
CY2014Q4 us-gaap Interest Income Operating
InterestIncomeOperating
2329
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-3447713
CY2014Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
-3325245
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-122468
CY2014Q4 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-12736193
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
CY2015Q4 us-gaap Interest Income Operating
InterestIncomeOperating
5815
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-762743
CY2015Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
-679760
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-82983
CY2015Q4 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-14144214

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