Question

PERNOD RICARD
CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
	2017	%	2018	%
Assets
Non-current assets
Intangible assets	11,755	39.07%	11.539	0.04%
Goodwill	5,397	17.94%	5,319	18.00%
Property, plant and equipment	2,336	7.76%	2,424	8.20%
Non-current financial assets	650	2.16%	886	3.00%
Investments in associats	15	0.05%	11	0.04%
Non-current derivative instruments	26	0.09%	2	0.01%
Deferred tax assets	2,377	7.90%	1,556	5.26%
Total Non-Current Assets	22,557	74.97%	21,737	73.54%
Current assets
Inventories and work in progress
Trade and other operating receivables	5,305	17.63%	5,472	18.51%
Income and other operating receiveables	1,134	3.77%	1,122	3.80%
Income taxes receiveable	111	0.37%	177	0.60%
Other current assets	270	0.90%	280	0.95%
Current derivative instruments	24	0.08%	17	0.06%
Cash and Cash equivalents	677	2.25%	754	2.55%
Total Current Assets	7,521	25.00%	7,821	26.46%
Assets held for sale	10	0.03%	0	0.00%
Total Assets	30,088	100.00%	29,558	100.00%
Shareholders' equity
Capital	411	1.37%	411	1.39%
Share premium	3,052	10.14%	3,052	10.33%
Retained earnings and currency translation differences	8,849	29.41%	9,757	33.01%
Group net profit	1,393	4.63%	1,577	5.34%
Group shareholders's equity	13,705	45.55%	14,797	50.06%
Non-controlling interests	180	0.60%	181	0.61%
Total Shareholders' Equity	13,886	46.15%	14,798	50.06%
Liabilities
Non-current liabilities
Non-current provisions	453	1.51%	448	1.52%
Provisions for pensions and other long-term employee benefits	649	2.16%	526	1.78%
Deferred tax liabilities	3421	11.37%	2593	8.77%
Bonds - non-current	6,900	22.93%	6,777	22.93%
Other non-current financial liabilities	480	1.60%	463	1.57%
Non-current derivative instruments	42	0.14%	31	0.10%
Total Non-Current Liabilities	11,946	39.70%	10,838	36.67%
Current liabilities
Current provisions	159	0.53%	143	0.48%
Trade payables	1,826	6.07%	1,951	6.60%
Income tax payable	156	0.52%	225	0.76%
Other current liabilities	935	3.11%	960	3.25%
Bonds - current	94	0.31%	93	0.31%
Other current financial liabiltiies	1,071	3.56%	360	1.22%
Current derivative instruments	15	0.05%	11	0.04%
Total Current Liabilities	4,256	14.15%	3,743	12.66%
Total Liabilities and Shareholders' Equity	30,088	100.00%	29,558	100.00%

1) Give an overview and analysis of financial statement components

2) Please compute the following ratios:

Current Ratio

Quick Ratio

Return on Equity (ROE)

Debt - Equity

Payout Ratio

Price/Earnings (P/E)

3) Compute the Following Table:

Trends	Amount 2018	Amount 2017	Amount Change	% Change
Pernod Richard

Answer 1

2 21,737 3.64% Total Non-Current Assets Current assets Inventories and work in progress Trade and other operating receivables Income and other operating receiveables Income taxes receiveable Other current assets Current derivative instruments Cash and Cash equivalents Total Current Assets Assets held for sale Total Assets 110 22,557 (820) 5.305 5,305 1,134 3.1 5% 3.1 5% 1.06% 59.46% 370% 291 790 11 .37% 3.99% (101-100.00% 1.76% 112 113 114 115 116 5.472 5,472 1,122 167 167 12 270 24 677 7.521 280 10 754 7,821 118 119 120 121 122 123 124 125 126 127 128 129 130 131 300 30,088 29,558 (530) Shareholders' equit Capital Share premium Retained earnings and currency translation di Group net profit Group shareholders's equit Non-controlling interests Total Shareholders' Equit 0.00% 0.00% 10.26% 13.21% 3,052 8,849 1,393 13,705 180 13,886 3,052 9,757 1,577 14,797 181 14,798 908 184 1,092 1 912 0.56% 657%