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10-Q Filing

FORTUNE BRANDS INNOVATIONS, INC. CIK: 1519751 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001564590-20-020502
Period End Date 20200331
Filing Date 20200501
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance fbhs-10q_20200331_htm.xml
Filing Contents
Balance Sheet 68 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 182.90M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 181.90M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $359.70M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $387.90M USD Point-in-time
Accounts receivable less allowances for discounts and doubtful accounts AccountsReceivableNetCurrent $624.80M USD Point-in-time
Accounts receivable less allowances for discounts and doubtful accounts AccountsReceivableNetCurrent $678.20M USD Point-in-time
Inventories InventoryNet $718.60M USD Point-in-time
Inventories InventoryNet $703.10M USD Point-in-time
Other current assets OtherAssetsCurrent $173.00M USD Point-in-time
Other current assets OtherAssetsCurrent $166.90M USD Point-in-time
Total current assets AssetsCurrent $1.90B USD Point-in-time
Total current assets AssetsCurrent $1.91B USD Point-in-time
Property, plant and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $824.20M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $807.60M USD Point-in-time
Operating lease assets PropertySubjectToOrAvailableForOperatingLeaseGross $165.60M USD Point-in-time
Operating lease assets PropertySubjectToOrAvailableForOperatingLeaseGross $159.30M USD Point-in-time
Goodwill Goodwill $2.09B USD Point-in-time
Goodwill Goodwill $2.08B USD Point-in-time
Other intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $1.14B USD Point-in-time
Other intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $1.17B USD Point-in-time
Other assets OtherAssetsNoncurrent $144.20M USD Point-in-time
Other assets OtherAssetsNoncurrent $200.00M USD Point-in-time
Total assets Assets $6.29B USD Point-in-time
Total assets Assets $6.30B USD Point-in-time
Short-term debt ShortTermBorrowings $399.70M USD Point-in-time
Short-term debt ShortTermBorrowings $399.90M USD Point-in-time
Accounts payable AccountsPayableCurrent $460.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $426.40M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $549.60M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $419.80M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.41B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.25B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.78B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.04B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $157.20M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $157.40M USD Point-in-time
Accrued defined benefit plans PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $201.40M USD Point-in-time
Accrued defined benefit plans PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $198.80M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $134.10M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $139.80M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $170.60M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $171.20M USD Point-in-time
Total liabilities Liabilities $3.94B USD Point-in-time
Total liabilities Liabilities $3.86B USD Point-in-time
Commitments and contingencies (see Note 17) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (see Note 17) 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 $2.81B USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $2.84B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-123.20M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-72.60M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.76B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.87B USD Point-in-time
Treasury stock TreasuryStockValue $2.08B USD Point-in-time
Treasury stock TreasuryStockValue $2.24B USD Point-in-time
Total Fortune Brands equity StockholdersEquity $2.36B USD Point-in-time
Total Fortune Brands equity StockholdersEquity $2.43B USD Point-in-time
Noncontrolling interests MinorityInterest $900.00K USD Point-in-time
Noncontrolling interests MinorityInterest $1.20M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.43B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.25B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.18B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $6.30B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $6.29B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net sales Revenues $1.33B USD 1 Quarter
Net sales Revenues $1.40B USD 1 Quarter
Cost of products sold CostOfGoodsAndServicesSold $869.10M USD 1 Quarter
Cost of products sold CostOfGoodsAndServicesSold $909.50M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $313.90M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $312.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $10.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $10.30M USD 1 Quarter
Asset impairment charges AssetImpairmentCharges $9.50M USD 1 Quarter
Restructuring charges RestructuringCharges $1.20M USD 1 Quarter
Restructuring charges RestructuringCharges $4.50M USD 1 Quarter
Operating income OperatingIncomeLoss $155.00M USD 1 Quarter
Operating income OperatingIncomeLoss $135.60M USD 1 Quarter
Interest expense InterestExpense $23.70M USD 1 Quarter
Interest expense InterestExpense $22.10M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.20M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $6.10M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $139.00M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $113.10M USD 1 Quarter
Income tax IncomeTaxExpenseBenefit $28.60M USD 1 Quarter
Income tax IncomeTaxExpenseBenefit $29.90M USD 1 Quarter
Income after tax IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $84.50M USD 1 Quarter
Income after tax IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $109.10M USD 1 Quarter
Equity in losses of affiliate EquityInEarningsLossesOfAffiliates $300.00K USD 1 Quarter
Net income ProfitLoss $108.80M USD 1 Quarter
Net income ProfitLoss $84.50M USD 1 Quarter
Less: Noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-300.00K USD 1 Quarter
Less: Noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-200.00K USD 1 Quarter
Net income attributable to Fortune Brands NetIncomeLoss $84.70M USD 1 Quarter
Net income attributable to Fortune Brands NetIncomeLoss $109.10M USD 1 Quarter
Basic earnings per common share IncomeLossFromContinuingOperationsPerBasicShare $0.78 USD 1 Quarter
Basic earnings per common share IncomeLossFromContinuingOperationsPerBasicShare $0.60 USD 1 Quarter
Diluted earnings per common share IncomeLossFromContinuingOperationsPerDilutedShare $0.77 USD 1 Quarter
Diluted earnings per common share IncomeLossFromContinuingOperationsPerDilutedShare $0.60 USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $58.20M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $92.80M USD 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $108.80M USD 1 Quarter
Net income ProfitLoss $84.50M USD 1 Quarter
Depreciation Depreciation $27.20M USD 1 Quarter
Depreciation Depreciation $27.80M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $10.00M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $10.30M USD 1 Quarter
Non-cash lease expense NonCashLeaseExpense $7.40M USD 1 Quarter
Non-cash lease expense NonCashLeaseExpense $8.70M USD 1 Quarter
Capital expenditures incurred but not yet paid CapitalExpendituresIncurredButNotYetPaid $4.90M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $7.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $11.10M USD 1 Quarter
Capital expenditures incurred but not yet paid CapitalExpendituresIncurredButNotYetPaid $10.60M USD 1 Quarter
Deferred taxes DeferredIncomeTaxesAndTaxCredits $-2.00M USD 1 Quarter
Deferred taxes DeferredIncomeTaxesAndTaxCredits $500.00K USD 1 Quarter
Asset impairment charges AssetImpairmentAndOtherChargesOperating $9.50M USD 1 Quarter
Asset impairment charges AssetImpairmentAndOtherChargesOperating $1.70M USD 1 Quarter
Treasury stock purchased but not yet paid TreasuryRepurchasedButNotYetPaid $10.00M USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $900.00K USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $800.00K USD 1 Quarter
Equity in losses of affiliate EquityInEarningsLossesOfAffiliates $300.00K USD 1 Quarter
Gain on equity investments GainLossOnSaleOfEquityInvestments $6.60M USD 1 Quarter
Gain on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $900.00K USD 1 Quarter
Gain on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $100.00K USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $81.30M USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $76.80M USD 1 Quarter
Decrease (increase) in inventories IncreaseDecreaseInInventories $-9.60M USD 1 Quarter
Decrease (increase) in inventories IncreaseDecreaseInInventories $57.20M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-12.20M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-25.60M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $15.60M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $7.40M USD 1 Quarter
Decrease in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-87.20M USD 1 Quarter
Decrease in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-92.90M USD 1 Quarter
Increase in accrued taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $14.50M USD 1 Quarter
Increase in accrued taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $21.60M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-13.80M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-89.70M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $26.90M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $27.20M USD 1 Quarter
Proceeds from the disposition of assets ProceedsFromSaleOfProductiveAssets $1.90M USD 1 Quarter
Proceeds from the disposition of assets ProceedsFromSaleOfProductiveAssets $1.50M USD 1 Quarter
Cost of investments in equity securities PaymentsToAcquireMarketableSecurities $51.60M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-25.30M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-77.00M USD 1 Quarter
Decrease in short-term debt ProceedsFromRepaymentsOfShortTermDebt $-175.00M USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $520.00M USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $380.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $160.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $130.00M USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $18.40M USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $2.90M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfCommonStock $18.00M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfCommonStock $150.00M USD 1 Quarter
Employee withholding taxes related to stock-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.60M USD 1 Quarter
Employee withholding taxes related to stock-based compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation $7.70M 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 $33.50M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $77.30M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $129.40M USD 1 Quarter
Effect of foreign exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-15.00M USD 1 Quarter
Effect of foreign exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.80M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-28.50M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $18.20M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $366.40M 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 beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $394.90M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $366.40M 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
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $394.90M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.43B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.25B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.18B USD Point-in-time
Net income ProfitLoss $108.80M USD 1 Quarter
Net income ProfitLoss $84.50M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $8.30M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-50.60M USD 1 Quarter
Stock options exercised StockIssuedDuringPeriodValueStockOptionsExercised $18.40M USD 1 Quarter
Stock options exercised StockIssuedDuringPeriodValueStockOptionsExercised $2.90M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $-600.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.50M USD 1 Quarter
Treasury stock purchase TreasuryStockValueAcquiredCostMethod $28.00M USD 1 Quarter
Treasury stock purchase TreasuryStockValueAcquiredCostMethod $150.00M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.43B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.25B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.18B USD Point-in-time

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

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