$UDN
INVESCO DB US DOLLAR INDEX BEARISH FUND

2019 Q2 Form 10-Q Financial Statement

#000156459019030311 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $199.8K $172.8K
YoY Change 15.65% 130.18%
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 $63.74K $76.60K
YoY Change -16.79% -0.52%
Operating Profit $136.9K $97.26K
YoY Change 40.76%
Interest Expense $316.00 $189.00
YoY Change 67.2% 67.26%
% of Operating Profit 0.23% 0.19%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $373.2K -$2.257M
YoY Change -116.53% -225.73%
Net Earnings / Revenue 186.74% -1306.48%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 1.800M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
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 $41.69M $29.75M
YoY Change -26.35%
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 $4.002M $384.3K
YoY Change 1174.74%
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 $37.69M $29.37M $34.64M
YoY Change
Total Liabilities & Shareholders Equity $41.69M $29.75M
YoY Change -26.35%

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income $373.2K -$2.257M
YoY Change -116.53% -225.73%
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
YoY Change
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

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
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CY2019Q2 dei Entity Common Stock Shares Outstanding
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CY2019Q2 us-gaap Investments In And Advances To Affiliates At Fair Value
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CY2018Q4 us-gaap Investments In And Advances To Affiliates At Fair Value
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CY2019Q2 us-gaap Receivables From Clearing Organizations
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udn Unrealized Gain Loss On Marketable Securities And Affiliated Investments
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us-gaap Interest Income Operating
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us-gaap Dividend Income Operating
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us-gaap Dividend Income Operating
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CY2019Q2 us-gaap Assets
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CY2019Q2 us-gaap Due To Related Parties Current And Noncurrent
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CY2019Q2 us-gaap Liabilities
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CY2018Q4 us-gaap Liabilities
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CY2019Q2 us-gaap Commitments And Contingencies
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CommitmentsAndContingencies
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CY2018Q4 us-gaap General Partners Capital Account
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CY2019Q2 us-gaap Limited Partners Capital Account
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CY2019Q2 us-gaap Stockholders Equity
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CY2018Q4 us-gaap Stockholders Equity
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CY2019Q2 us-gaap Liabilities And Stockholders Equity
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CY2018Q4 us-gaap General Partners Capital Account Units Outstanding
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CY2019Q2 us-gaap Limited Partners Capital Account Units Outstanding
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CY2019Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
20.94
CY2018Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
20.98
CY2019Q2 udn Market Value Per Share
MarketValuePerShare
20.95
CY2018Q4 udn Market Value Per Share
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20.99
CY2019Q2 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
1.1053
CY2019Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
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CY2019Q2 us-gaap Investment Owned At Cost
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CY2018Q4 us-gaap Investment Owned Percent Of Net Assets
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CY2018Q4 us-gaap Investment Owned At Cost
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CY2019Q2 us-gaap Interest Income Operating
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us-gaap Interest And Dividend Income Operating
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us-gaap Floor Brokerage Exchange And Clearance Fees
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us-gaap Floor Brokerage Exchange And Clearance Fees
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CY2019Q2 us-gaap Interest Expense
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CY2018Q2 us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Operating Expenses
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us-gaap Operating Expenses
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CY2019Q2 us-gaap Investment Company Contractual Fee Waived
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CY2018Q2 us-gaap Investment Company Contractual Fee Waived
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us-gaap Investment Company Contractual Fee Waived
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us-gaap Investment Company Contractual Fee Waived
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2227
CY2019Q2 udn Operating Expenses Net
OperatingExpensesNet
62926
CY2018Q2 udn Operating Expenses Net
OperatingExpensesNet
75524
udn Operating Expenses Net
OperatingExpensesNet
125514
udn Operating Expenses Net
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153103
CY2018Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Payments For Repurchase Of Common Stock
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CY2018Q1 us-gaap Stockholders Equity
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CY2018Q2 us-gaap Stock Issued During Period Value New Issues
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CY2018Q2 us-gaap Stockholders Equity
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CY2019Q2 udn Gain Loss On Sale Of Currency Contracts
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us-gaap Marketable Securities Unrealized Gain Loss
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us-gaap Marketable Securities Unrealized Gain Loss
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CY2019Q2 udn Unrealized Gain Loss On Currency Contracts
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CY2018Q2 udn Unrealized Gain Loss On Currency Contracts
UnrealizedGainLossOnCurrencyContracts
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udn Unrealized Gain Loss On Currency Contracts
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udn Unrealized Gain Loss On Currency Contracts
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us-gaap Unrealized Gain Loss On Investments
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us-gaap Unrealized Gain Loss On Investments
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us-gaap Investment Company Realized And Unrealized Gain Loss On Investment And Foreign Currency
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us-gaap Net Income Loss
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-141785
us-gaap Net Income Loss
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-1537335
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us-gaap Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
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us-gaap Unrealized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
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us-gaap Payments To Acquire Investments
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CY2018Q2 us-gaap Cash
Cash
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Payments To Acquire Investments
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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us-gaap Depreciation Amortization And Accretion Net
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-298023
udn Unrealized Gain Loss On Marketable Securities And Affiliated Investments
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udn Increase Decrease In Variation Margin
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us-gaap Increase Decrease In Payables To Broker Dealers
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Increase Decrease In Accounts Payable Related Parties
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us-gaap Distributed Earnings
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us-gaap Increase Decrease In Accounts Payable Related Parties
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us-gaap Proceeds From Issuance Of Common Stock
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udn Increase Decrease In Payable For Amount Due To Custodian Net
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-360877
us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
0
us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
-169313
us-gaap Due To And From Broker Dealers And Clearing Organizations Disclosure
DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 5 &#8211; Deposits with Commodity Broker and Custodian</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Fund defines cash as cash held by the Custodian. There were no cash equivalents held by the Fund as of June&#160;30, 2019 and December&#160;31, 2018. </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Fund may deposit cash, United States Treasury Obligations, T-Bill ETFs and money market mutual funds with the Commodity Broker as margin, to the extent permissible under CFTC rules. The combination of the Fund&#8217;s deposits with its Commodity Broker of cash and United States Treasury Obligations and the unrealized profit or loss on open futures contracts represents the Fund&#8217;s overall equity in its broker trading account. To meet the Fund&#8217;s maintenance margin requirements, the Fund holds United States Treasury Obligations with the Commodity Broker. The Fund transfers cash to the Commodity Broker to satisfy variation margin requirements. The Fund earns interest on any excess cash deposited with the Commodity Broker and incurs interest expense on any deficit balance with the Commodity Broker. </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The brokerage agreement with the Commodity Broker provides for the net settlement of all financial instruments covered by the agreement in the event of default or termination of any one contract. The Managing Owner will utilize any excess cash held at the Commodity Broker to offset any realized losses incurred in the currency futures contracts, if available. To the extent that any excess cash held at the Commodity Broker is not adequate to cover any realized losses, a portion of the United States Treasury Obligations and T-Bill ETFs, if any, on deposit with the Commodity Broker will be sold to make additional cash available. For financial reporting purposes, the Fund offsets financial assets and financial liabilities that are subject to legally enforceable netting arrangements. </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Fund&#8217;s remaining cash, United States Treasury Obligations, T-Bill ETFs and money market mutual fund holdings are on deposit with the Custodian. The Fund is permitted to temporarily carry a negative or overdrawn balance in its account with the Custodian. The Fund incurs interest expense on any overdraft balance with the Custodian. Such balances, if any at period-end, are shown on the Statements of Financial Condition under the payable caption <font style="font-style:italic;">Due to custodian.</font></p>
us-gaap Distributed Earnings
DistributedEarnings
0
udn Average Charges Paid To Broker Per Round Turn Trade Maximum
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6.00
udn Minimum Number Of Baskets Of Shares That Can Be Purchased
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1
udn Number Of Shares Issued Per Basket
NumberOfSharesIssuedPerBasket
200000
us-gaap Use Of Estimates
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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">B.&nbsp;&nbsp;Accounting Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates by a significant amount. In addition, the Fund monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are issued.</p>
us-gaap Business Acquisition Date Of Acquisition Agreement1
BusinessAcquisitionDateOfAcquisitionAgreement1
2015-02-23
udn Treasury Obligation Measurement Maximum Maturity Period
TreasuryObligationMeasurementMaximumMaturityPeriod
P12M
us-gaap Investment Company Investment Income Loss Per Share
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0.17
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0
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CashEquivalentsAtCarryingValue
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CY2019Q2 udn Financial Instruments Owned Money Market Mutual Fund At Fair Value
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CY2019Q2 us-gaap Investment Owned Unrecognized Unrealized Appreciation Depreciation Net
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241036
CY2019Q2 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
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CY2018Q4 udn Financial Instruments Owned Money Market Mutual Fund At Fair Value
FinancialInstrumentsOwnedMoneyMarketMutualFundAtFairValue
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CY2018Q4 us-gaap Investment Owned Unrecognized Unrealized Appreciation Depreciation Net
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301786
CY2018Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
29982756
udn Minimum Number Of Baskets Of Shares That Can Be Redeemed
MinimumNumberOfBasketsOfSharesThatCanBeRedeemed
1
udn Number Of Shares Redeemable Per Basket
NumberOfSharesRedeemablePerBasket
200000
CY2019Q1 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
20.71
CY2018Q1 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
22.83
CY2017Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
22.43
CY2019Q2 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
0.14
CY2018Q2 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-1.23
us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-0.21
us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-0.87
CY2019Q2 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
0.09
CY2018Q2 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
0.05
us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
0.09
CY2019Q2 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
0.23
CY2018Q2 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
-1.18
us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
-0.04
us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
-0.78
CY2018Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
21.65
CY2019Q1 udn Market Value Per Share
MarketValuePerShare
20.71
CY2018Q1 udn Market Value Per Share
MarketValuePerShare
22.85
CY2017Q4 udn Market Value Per Share
MarketValuePerShare
22.39
CY2018Q2 udn Market Value Per Share
MarketValuePerShare
21.67
CY2019Q2 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0166
CY2018Q2 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0098
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0165
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.0081
CY2019Q2 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0076
CY2018Q2 us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0076
us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0076
us-gaap Investment Company Expense Ratio Including Voluntary Fee Waiver
InvestmentCompanyExpenseRatioIncludingVoluntaryFeeWaiver
0.0076
CY2019Q2 udn Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0077
CY2018Q2 udn Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0077
udn Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0077
udn Average Net Assets To Expenses Prior To Waivers
AverageNetAssetsToExpensesPriorToWaivers
0.0077
CY2019Q2 us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.0111
CY2018Q2 us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
-0.0517
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
-0.0019
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
-0.0348
CY2019Q2 udn Return At Market Value
ReturnAtMarketValue
0.0116
CY2018Q2 udn Return At Market Value
ReturnAtMarketValue
-0.0516
udn Return At Market Value
ReturnAtMarketValue
-0.0019
udn Return At Market Value
ReturnAtMarketValue
-0.0322
CY2018Q2 us-gaap Distributed Earnings
DistributedEarnings
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8098449
CY2018Q4 us-gaap Cash
Cash
0
CY2017Q4 us-gaap Cash
Cash
169313
CY2019Q2 us-gaap Cash
Cash
0
us-gaap Payments For Purchase Of Securities Operating Activities
PaymentsForPurchaseOfSecuritiesOperatingActivities
50260369
us-gaap Payments For Purchase Of Securities Operating Activities
PaymentsForPurchaseOfSecuritiesOperatingActivities
68556030
us-gaap Proceeds From Sale Of Securities Operating Activities
ProceedsFromSaleOfSecuritiesOperatingActivities
46994492
us-gaap Proceeds From Sale Of Securities Operating Activities
ProceedsFromSaleOfSecuritiesOperatingActivities
82889790

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