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10-Q Filing

FORTUNE BRANDS INNOVATIONS, INC. CIK: 1519751 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001193125-19-139617
Period End Date 20190331
Filing Date 20190507
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance fbhs-20190331.xml
Filing Contents
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 180.60M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 181.20M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $281.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $262.90M USD Point-in-time
Accounts receivable less allowances for discounts and doubtful accounts AccountsReceivableNetCurrent $571.70M USD Point-in-time
Accounts receivable less allowances for discounts and doubtful accounts AccountsReceivableNetCurrent $650.10M USD Point-in-time
Inventories InventoryNet $678.90M USD Point-in-time
Inventories InventoryNet $737.90M USD Point-in-time
Other current assets OtherAssetsCurrent $178.80M USD Point-in-time
Other current assets OtherAssetsCurrent $172.60M USD Point-in-time
Total current assets AssetsCurrent $1.85B USD Point-in-time
Total current assets AssetsCurrent $1.69B USD Point-in-time
Property, plant and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $813.40M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $806.30M USD Point-in-time
Operating lease assets PropertySubjectToOrAvailableForOperatingLeaseGross $174.80M USD Point-in-time
Goodwill Goodwill $2.08B USD Point-in-time
Goodwill Goodwill $2.08B USD Point-in-time
Other intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $1.25B USD Point-in-time
Other intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $1.24B USD Point-in-time
Other assets OtherAssetsNoncurrent $138.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $136.40M USD Point-in-time
Total assets Assets $6.29B USD Point-in-time
Total assets Assets $5.96B USD Point-in-time
Short-term debt ShortTermBorrowings $525.00M USD Point-in-time
Short-term debt ShortTermBorrowings $350.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $459.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $442.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $508.10M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $446.80M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.24B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.49B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.17B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.81B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $162.60M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $161.70M USD Point-in-time
Accrued defined benefit plans PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $162.90M USD Point-in-time
Accrued defined benefit plans PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $163.30M USD Point-in-time
Operating lease liabilities OperatingLeaseLiability $149.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $160.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $157.60M USD Point-in-time
Total liabilities Liabilities $4.04B USD Point-in-time
Total liabilities Liabilities $3.78B USD Point-in-time
Commitments and contingencies (see Note 18) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (see Note 18) CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $1.80M USD Point-in-time
Common stock CommonStockValue $1.80M USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $2.78B USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $2.77B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-67.30M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-67.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.54B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.45B USD Point-in-time
Treasury stock TreasuryStockValue $1.97B USD Point-in-time
Treasury stock TreasuryStockValue $2.01B USD Point-in-time
Total Fortune Brands equity StockholdersEquity $2.25B USD Point-in-time
Total Fortune Brands equity StockholdersEquity $2.18B USD Point-in-time
Noncontrolling interests MinorityInterest $1.60M USD Point-in-time
Noncontrolling interests MinorityInterest $1.80M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.18B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.25B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.60B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.96B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $6.29B USD Point-in-time
Income Statement 39 line items
Line Item Tag Value Unit Period
Net sales Revenues $1.33B USD 1 Quarter
Net sales Revenues $1.25B USD 1 Quarter
Cost of products sold CostOfGoodsAndServicesSold $869.10M USD 1 Quarter
Cost of products sold CostOfGoodsAndServicesSold $815.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $312.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $311.20M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $10.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $8.20M USD 1 Quarter
Restructuring charges RestructuringCharges $800.00K USD 1 Quarter
Restructuring charges RestructuringCharges $1.20M USD 1 Quarter
Operating income OperatingIncomeLoss $135.60M USD 1 Quarter
Operating income OperatingIncomeLoss $119.40M USD 1 Quarter
Interest expense InterestExpense $23.70M USD 1 Quarter
Interest expense InterestExpense $14.70M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.20M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $2.80M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $107.50M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $113.10M USD 1 Quarter
Income tax IncomeTaxExpenseBenefit $32.40M USD 1 Quarter
Income tax IncomeTaxExpenseBenefit $28.60M USD 1 Quarter
Income from continuing operations, net of tax IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $84.50M USD 1 Quarter
Income from continuing operations, net of tax IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $75.10M USD 1 Quarter
Loss from discontinued operations, net of tax IncomeLossFromDiscontinuedOperationsNetOfTax $-200.00K USD 1 Quarter
Net income ProfitLoss $74.90M USD 1 Quarter
Net income ProfitLoss $84.50M USD 1 Quarter
Less: Noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-200.00K USD 1 Quarter
Less: Noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-100.00K USD 1 Quarter
Net income attributable to Fortune Brands NetIncomeLoss $84.70M USD 1 Quarter
Net income attributable to Fortune Brands NetIncomeLoss $75.00M USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.60 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.50 USD 1 Quarter
Net income attributable to Fortune Brands common shareholders EarningsPerShareBasic $0.60 USD 1 Quarter
Net income attributable to Fortune Brands common shareholders EarningsPerShareBasic $0.50 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.60 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.49 USD 1 Quarter
Net income attributable to Fortune Brands common shareholders EarningsPerShareDiluted $0.60 USD 1 Quarter
Net income attributable to Fortune Brands common shareholders EarningsPerShareDiluted $0.49 USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $78.20M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $92.80M USD 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $74.90M USD 1 Quarter
Net income ProfitLoss $84.50M USD 1 Quarter
Depreciation Depreciation $27.80M USD 1 Quarter
Depreciation Depreciation $25.30M USD 1 Quarter
Amortization of intangibles AdjustmentForAmortization $8.20M USD 1 Quarter
Capital expenditures incurred but not yet paid CapitalExpendituresIncurredButNotYetPaid $10.60M USD 1 Quarter
Amortization of intangibles AdjustmentForAmortization $10.00M USD 1 Quarter
Capital expenditures incurred but not yet paid CapitalExpendituresIncurredButNotYetPaid $7.60M USD 1 Quarter
Non-cash lease expense NonCashRentExpenses $8.70M USD 1 Quarter
Treasury stock purchased but not yet paid TreasuryRepurchasedButNoTYetPaid $10.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $7.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $12.60M USD 1 Quarter
Treasury stock purchased but not yet paid TreasuryRepurchasedButNoTYetPaid $24.80M USD 1 Quarter
Deferred taxes DeferredIncomeTaxesAndTaxCredits $-9.20M USD 1 Quarter
Deferred taxes DeferredIncomeTaxesAndTaxCredits $-2.00M USD 1 Quarter
Asset impairment charges AssetImpairmentAndOtherChargesOperating $1.70M USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $500.00K USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $800.00K USD 1 Quarter
(Gain) loss on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $900.00K USD 1 Quarter
(Gain) loss on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-200.00K USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $76.80M USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $63.00M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $57.20M USD 1 Quarter
Increase in inventories IncreaseDecreaseInInventories $36.90M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-3.20M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-12.20M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $15.60M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $4.80M USD 1 Quarter
Decrease in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-73.30M USD 1 Quarter
Decrease in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-87.20M USD 1 Quarter
Increase in accrued taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $21.60M USD 1 Quarter
Increase in accrued taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $16.80M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-51.90M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-89.70M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $27.20M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $37.60M USD 1 Quarter
Proceeds from the disposition of assets ProceedsFromSaleOfProductiveAssets $700.00K USD 1 Quarter
Proceeds from the disposition of assets ProceedsFromSaleOfProductiveAssets $1.90M USD 1 Quarter
Cost of acquisition, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $5.80M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-25.30M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-42.70M USD 1 Quarter
(Decrease) increase in short-term debt ProceedsFromRepaymentsOfShortTermDebt $350.00M USD 1 Quarter
(Decrease) increase in short-term debt ProceedsFromRepaymentsOfShortTermDebt $-175.00M USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $545.00M USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $520.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $515.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $160.00M USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $3.20M USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $2.90M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfCommonStock $325.20M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfCommonStock $18.00M USD 1 Quarter
Employee withholding taxes related to stock-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.70M USD 1 Quarter
Employee withholding taxes related to stock-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $12.20M USD 1 Quarter
Deferred acquisition payments PaymentsOfMergerRelatedCostsFinancingActivities $1.80M USD 1 Quarter
Dividends to stockholders PaymentsOfDividends $31.00M USD 1 Quarter
Dividends to stockholders PaymentsOfDividends $29.60M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $16.20M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $129.40M USD 1 Quarter
Effect of foreign exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-200.00K USD 1 Quarter
Effect of foreign exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $3.80M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-78.60M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $18.20M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $323.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $244.40M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $270.70M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $288.90M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $323.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $244.40M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $270.70M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $288.90M USD Point-in-time
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.18B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.25B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.60B USD Point-in-time
Net income ProfitLoss $74.90M USD 1 Quarter
Net income ProfitLoss $84.50M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $3.20M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $8.30M USD 1 Quarter
Stock options exercised StockIssuedDuringPeriodValueStockOptionsExercised $2.90M USD 1 Quarter
Stock options exercised StockIssuedDuringPeriodValueStockOptionsExercised $3.20M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $400.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $-600.00K USD 1 Quarter
Treasury stock purchase TreasuryStockValueAcquiredCostMethod $28.00M USD 1 Quarter
Treasury stock purchase TreasuryStockValueAcquiredCostMethod $325.20M USD 1 Quarter
Dividends DividendsCommonStock $700.00K USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.18B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.25B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.60B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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