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BROWN FORMAN CORPORATION CONSOLIDATED BALANCE SHEETS (Dollars in millions) 2017 % 2018 % Assets Cash &...

BROWN FORMAN CORPORATION
CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
2017 % 2018 %
Assets
Cash & Cash equivalents 182 3.94% 239 4.80%
Accounts receivable, net 557 12.04% 639 12.84%
Inventories 1,270 27.46% 1,379 27.71%
Other Current Assets 342 7.39% 298 5.99%
Total Current Assets 2,351 50.83% 2,555 51.35%
Property, plant and eqeuipment 713 15.42% 780 15.68%
Goodwill 753 16.28% 763 15.33%
Other intangible assets 641 13.86% 670 13.46%
Deferred tax assets 16 0.35% 16 0.32%
Other Assets 151 3.26% 192 3.86%
Total Assets 4,625 100% 4,976 100%
Liabilities
Accounts payable and accrued expenses 501 10.83% 581 11.68%
Income taxes 9 0.19% 25 0.50%
Income borrowings 211 4.56% 215 4.32%
Current portion of long-term debt 249 5.38% - 0.00%
Total current liabilities 970 20.97% 821 16.50%
Long-term debt 1,689 36.52% 2,341 47.05%
Deferred tax liabilities 152 3.29% 85 1.71%
Accrued pension and other postreitrement benefits 314 6.79% 191 3.84%
Other liabilities 130 2.81% 222 4.46%
Total Liabilities 3,255 70.38% 3,660 73.55%
Stockholders' Equity
Common Stock
Class A, voting, $0.15 par value (170,000,000 shares authorized) 25 0.54% 25 0.50%
Class B, nonvoting, $0.15 par value (400,000,000 shares authorized) 43 0.93% 47 0.94%
Additional paid-in capital 65 1.41% 4 0.08%
Retained earnings 4,470 96.65% 1,730 34.77%
Accumulated other comprehensive income (loss), net of tax (390) -8.43% (378) -7.60%
Treasury stock, at cost (88,175,000 and 3,531,000 shares in 2017 and 2018, respectively (2843) -61.47% (112) -2.25%
Total stockholders' equity 1,370 29.62% 1,316 26.45%
Total liabilities and stockholders' equity 4,625 100.00% 4,976 100.00%

1) Give an overview and analysis of financial statement components

2) Compute the Following Table:

Trends Amount 2018 Amount 2017 Amount Change % Change
Brown Forman
business   accounting   
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1) Give an overview and analysis of financial statement component A vertical analysis is used to show the relative sizes of the different accounts on a financial statement. For example, when a vertical analysis is done on balance sheet statement, it will show the total assets and total liabilities and Equity number as 100%, and every other account will show as a percentage of the total assets number BROWN FORMAN CORPORATION CONSOLIDATED BALANCE SHEETS Dollars in millions ha Ass Cash & Cash Equivalents have increased by 0.86%, this Cash & Cash equivalents Accounts receivable, net Inventories Other Current Assets Total Current Assets Property, plant and equipment 182| 5571 1,270| 3421 2.351| 7131 3.94% 12.04% 27.46%) 7.39% 50.83%| 15.42% 239| 639 1,379| 298| 2555| 7801 4.80%) means decreased cash outflows must have happened. 12.84%) There is a marginal increase in trade receivables 27.71%| Inventory levels remained almost same 5.99%) Other current assets have decreased in 2018 by 1.4% 51.35% 15.68%)PPE levels remained almost same. Goodwill percentage of total assets have decreased by 763 670| 16| 1921 15.33%)0.95%, although in absolute terms it has increased 13.46%) Other intangible levels remained almost same 753 16.28% Other intangible assets Deferred tax assets Other Assets Total Assets 161 0.35% 151 3.26% 0.32%) levels remained almost same 3.86%)levels remained almost same Liabilities Accounts payable and accrued expenses Income taxes 501 10.83% 581 251 215| 11.68% Payable have increased by 0.85 0.50%) 4.32%Remained almost same 0.00% | Indicates that repayment have begun or about to begin Income taxes liability has increased by 0.31% 211| 249| 970| 1.689| 152 4.56% 5.38% 20.97% 36.52% 3.29% ngs urrent portion of long-term debt Total current liabilities Long-term debt Deferred tax liabilities Accrued pension and other postretirement 8211 16.50% 2341| 85| 47.05% Long term debt has increased significantly by 10.53% 1.71%) Deferred tax liabilities have decreased by 1.58% 191| 222| 3.84%) Retirement benefits liability has decreased by 2.95% 4.46%) Other liabilities composition has increased by 1.65% Other liabilities Total Liabilities 130 3.2551 70.38%) 3.6601 73.55% Stockholders Equity Common Stock Class A, voting, $0.15 par value (170,000,000 shares authorized) Class B, nonvoting, $0.15 par value (400,000,000 shares authorized) Additional paid-in capital 251 0.54% 251 0.50% 43| 0.93% Retained earnings have decreased significantly by 63% compared to 2017. This means profitability must have Retained earnings Accumulated other comprehensive income (loss), net of tax Treasury stock, at cost (88,175,000 and 3,531,000 shares in 2017 and 2018 res 4470| 96.65%| 1,730| 34.77%)decreased. -3901-8.43% 378| -7.60%)levels remained almost same .2843| -61.47% 112 -2.25% it appears that treasury stocks have been resold in 2018 stock holders composition has decreased by 3.17% in 1,370| 4,625 29.62%| 100.00%) 1,316| 4,975 26.45%)2018 Total stockholders equity Total liabilities and stockholders equity 100.00%

) Compute the Following Table: Horizontal analysis Horizontal analysis (also known as trend analysis) is a financial statement analysis technique that shows changes in the amounts of corresponding financial statement items over a period of time. It is a useful tool to evaluate the trend situations. The statements for two or more periods are used in horizontal analysis. The earliest period is usually used as the base period and the items on the statements for all later periods are compared with items on the statements of the base period. The changes are generally shown both in dollars and percentage. Dollar and entage changes are computed by using the following formulas 1. Dollar change Amourt of the item in comparison year Amount of the item in base year Dollar change 2. Percentage change- Amount ot ne tem in base year BROWN FORMAN CORPORATION CONSOLIDATED BALANCE SHEETS (Dollars in millions 2018 2017 C(A-B Increase or (Decrease) D-C/B Percentage 182 S 557 $ Cash & Cash equivalents Accounts receivable, net Inventories Other Current Assets Total Current Assets Property, plant and eqeuipment Goodwill Other intangible assets Deferred tax assets Other Assets Total Assets 239 639 31% 15% 82 1,379 1,270 2,555 2,351 753 109 13% 713 S 763 10 670 192 2796 4,976 4,625 351 Liabilities Accounts payable and accrued expenses Income taxes Income borrowings Current portion of long-term debt Total current liabilities Long term debt Deferred tax liabilities Accrued pension and other postreitrement 80 16 178% 249 $ 100% 821 2,3411,689 652 39% 191 314 S 123 Other liabilities Total Liabilities 71% 12% 3,660 3,255 $ Stockholders Equity Common Stock Class A, voting, $0.15 par value (170,000,000 shares authorized Class B, nonvoting, $0.15 par value (400,000,000 shares authorized) Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss), net of tax Treasury stock, at cost (88,175,000 and 3,531,000 shares in 2017 and 2018, 47 -94% -61% 1,730 4,470 2,740 378390 -96% 112 2843 $ 1,316 1,370 $ 4,976 4,625 ve 2,731 Total stockholders equity Total liabilities and stockholders equity 351

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