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Overview and analysis of financial statement BROWN FORMAN CORPORATION CONSOLIDATED BALANCE SHEETS (Dollars in millions) 2017...

Overview and analysis of financial statement

BROWN FORMAN CORPORATION

CONSOLIDATED BALANCE SHEETS

(Dollars in millions)

2017

2018

Assets

Cash & Cash equivalents

182

239

Accounts receivable, net

557

639

Inventories

1,270

1,379

Other Current Assets

342

298

Total Current Assets

2,351

2,555

Property, plant and eqeuipment

713

780

Goodwill

753

763

Other intangible assets

641

670

Deferred tax assets

16

16

Other Assets

151

192

Total Assets

4,625

4,976

Liabilities

Accounts payable and accrued expenses

501

581

Income taxes

9

25

Income borrowings

211

215

Current portion of long-term debt

249

-

Total current liabilities

970

821

Long-term debt

1,689

2,341

Deferred tax liabilities

152

85

Accrued pension and other postreitrement benefits

314

191

Other liabilities

130

222

Total Liabilities

3,255

3,660

Stockholders' Equity

Common Stock

   Class A, voting, $0.15 par value (170,000,000 shares authorized)

25

25

   Class B, nonvoting, $0.15 par value (400,000,000 shares authorized)

43

47

Additional paid-in capital

65

4

Retained earnings

4,470

1,730

Accumulated other comprehensive income (loss), net of tax

(390)

(378)

Treasury stock, at cost (88,175,000 and 3,531,000 shares in 2017 and 2018, respectively

(2843)

(112)

Total stockholders' equity

1,370

1,316

Total liabilities and stockholders' equity

4,625

4,976
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Answer #1

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 a percentage of the total assets number BROWN FORMAN CORPORATION CONSOLIDATED BALANCE SHEETS Dollars in millions Analysis 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 1210| 342 2.351 713| 3.94% 12.04% 27.46%) 239| 639 1,379| 298| 2.555| 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 % 50.83% | 15.42%) Goodwill percentage of total assets have decreased by Other intangible assets Deferred tax assets Other Assets Total Assets 7531 16.28% 6411 13.86% 161 0.35% 151 3.26% 763| 670| 16| 1921 15.33%) 0.95%, although in absolute terms it has increased 13.46%) Other intangible levels remained almost same 0.32%)levels remained almost same 3.86%)levels remained almost same 4,625 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 5011 10.83% 211 249| 970| 1,689 152 4.56% 5.38% 20.97% 36.52% 3.29% 5811 29 215 | 821 2,341 85| 11.68% Payable have increased by 0.85 0.50%) Income taxes liability has increased by 0.31% 4.32%Remained almost same 0.00%|Indicates that repayment have begun or about to begin 16.50% 47.05% Long term debt has increased significantly by 10.53 1.71%) Deferred tax liabilities have decreased by 1.58% d pension and other postretirement benefits Other liabilities Total Liabilities 91| 2221 3.660 3.84%) Retirement benefits liability has decreased by 2.95% 4.46%) Other liabilities composition has increased by 1.65% 3.2551 70.38%) | 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| 65| 0.93% 1.41% 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 respectively 4470| 96.65% 1,730| 34.77%)decreased .39 8.43% .3781 .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 Total stockholders equity Total liabilities and stockholders equity 1.370| 4,625 29.62%| 100.00%) 1,316| 4,975 26.45%)2018 100.00%

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