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10-Q Filing

FORTUNE BRANDS INNOVATIONS, INC. CIK: 1519751 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-023312
Period End Date 20210331
Filing Date 20210504
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance fbhs-10q_20210331_htm.xml
Filing Contents
Balance Sheet 62 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 184.10M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 184.70M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $419.10M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $356.10M USD Point-in-time
Accounts receivable less allowances for discounts and credit losses AccountsReceivableNetCurrent $734.90M USD Point-in-time
Accounts receivable less allowances for discounts and credit losses AccountsReceivableNetCurrent $828.50M USD Point-in-time
Inventories InventoryNet $867.20M USD Point-in-time
Inventories InventoryNet $958.40M USD Point-in-time
Other current assets OtherAssetsCurrent $202.90M USD Point-in-time
Other current assets OtherAssetsCurrent $187.30M USD Point-in-time
Total current assets AssetsCurrent $2.35B USD Point-in-time
Total current assets AssetsCurrent $2.21B USD Point-in-time
Property, plant and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $905.10M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation PropertyPlantAndEquipmentNet $917.40M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $179.20M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $170.20M USD Point-in-time
Goodwill Goodwill $2.47B USD Point-in-time
Goodwill Goodwill $2.39B USD Point-in-time
Other intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $1.42B USD Point-in-time
Other intangible assets, net of accumulated amortization IntangibleAssetsNetExcludingGoodwill $1.43B USD Point-in-time
Other assets OtherAssetsNoncurrent $151.40M USD Point-in-time
Other assets OtherAssetsNoncurrent $247.50M USD Point-in-time
Total assets Assets $7.36B USD Point-in-time
Total assets Assets $7.48B USD Point-in-time
Accounts payable AccountsPayableCurrent $620.50M USD Point-in-time
Accounts payable AccountsPayableCurrent $599.20M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $724.60M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $597.80M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.35B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.20B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.68B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.57B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $167.10M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $160.50M USD Point-in-time
Accrued defined benefit plans PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $159.50M USD Point-in-time
Accrued defined benefit plans PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $156.80M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $140.50M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityNoncurrent $149.10M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $204.90M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $205.40M USD Point-in-time
Total liabilities Liabilities $4.56B USD Point-in-time
Total liabilities Liabilities $4.58B 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 $1.90M USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $2.93B USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $2.96B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-55.10M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-51.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.36B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.18B USD Point-in-time
Treasury stock TreasuryStockValue $2.28B USD Point-in-time
Treasury stock TreasuryStockValue $2.34B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.78B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.92B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.43B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $7.36B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $7.48B USD Point-in-time
Income Statement 35 line items
Line Item Tag Value Unit Period
Net sales Revenues $1.40B USD 1 Quarter
Net sales Revenues $1.77B USD 1 Quarter
Cost of products sold CostOfGoodsAndServicesSold $909.50M USD 1 Quarter
Cost of products sold CostOfGoodsAndServicesSold $1.13B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $371.50M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $313.90M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $10.30M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $16.60M USD 1 Quarter
Asset impairment charges AssetImpairmentCharges $9.50M USD 1 Quarter
Restructuring charges RestructuringCharges $4.50M USD 1 Quarter
Restructuring charges RestructuringCharges $7.60M USD 1 Quarter
Operating income OperatingIncomeLoss $248.40M USD 1 Quarter
Operating income OperatingIncomeLoss $155.00M USD 1 Quarter
Interest expense InterestExpense $22.10M USD 1 Quarter
Interest expense InterestExpense $21.40M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $6.10M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $-3.30M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $139.00M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $223.70M USD 1 Quarter
Income tax IncomeTaxExpenseBenefit $45.90M USD 1 Quarter
Income tax IncomeTaxExpenseBenefit $29.90M USD 1 Quarter
Income after tax IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterestBeforeEquityMethodInvestmentIncomeLoss $177.80M USD 1 Quarter
Income after tax IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterestBeforeEquityMethodInvestmentIncomeLoss $109.10M USD 1 Quarter
Equity in losses of affiliate IncomeLossFromEquityMethodInvestments $-300.00K USD 1 Quarter
Net income ProfitLoss $108.80M USD 1 Quarter
Net income ProfitLoss $177.80M USD 1 Quarter
Less: Noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-300.00K USD 1 Quarter
Net income attributable to Fortune Brands NetIncomeLoss $177.80M 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 $1.28 USD 1 Quarter
Diluted earnings per common share IncomeLossFromContinuingOperationsPerDilutedShare $1.26 USD 1 Quarter
Diluted earnings per common share IncomeLossFromContinuingOperationsPerDilutedShare $0.77 USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $58.20M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $181.90M 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 $177.80M USD 1 Quarter
Depreciation Depreciation $31.10M USD 1 Quarter
Depreciation Depreciation $27.20M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $10.30M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $16.60M USD 1 Quarter
Non-cash lease expense NonCashLeaseExpense $7.40M USD 1 Quarter
Non-cash lease expense NonCashLeaseExpense $10.70M USD 1 Quarter
Capital expenditures incurred but not yet paid CapitalExpendituresIncurredButNotYetPaid $7.40M USD 1 Quarter
Capital expenditures incurred but not yet paid CapitalExpendituresIncurredButNotYetPaid $4.90M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $11.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $11.60M USD 1 Quarter
Deferred taxes DeferredIncomeTaxesAndTaxCredits $-100.00K USD 1 Quarter
Deferred taxes DeferredIncomeTaxesAndTaxCredits $500.00K USD 1 Quarter
Options not settled until April 1, 2021 DeferredCompensationCashBasedArrangementsLiabilityCurrent $6.60M USD Point-in-time
Asset impairment charges AssetImpairmentAndOtherChargesOperating $9.50M USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $1.20M USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $900.00K USD 1 Quarter
Equity in losses of affiliate IncomeLossFromEquityMethodInvestments $-300.00K USD 1 Quarter
Loss (gain) on equity investments GainLossOnSaleOfEquityInvestments $-2.90M USD 1 Quarter
Loss (gain) on equity investments GainLossOnSaleOfEquityInvestments $6.60M USD 1 Quarter
Loss (gain) on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-200.00K USD 1 Quarter
Loss (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 $91.60M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $86.40M USD 1 Quarter
(Increase) decrease in inventories IncreaseDecreaseInInventories $-9.60M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-25.60M USD 1 Quarter
Decrease in accounts payable IncreaseDecreaseInAccountsPayable $-15.90M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $10.90M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $7.40M USD 1 Quarter
Decrease in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-92.90M USD 1 Quarter
Decrease in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-150.70M USD 1 Quarter
Increase in accrued taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $34.30M USD 1 Quarter
Increase in accrued taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $14.50M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-13.80M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-69.20M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $26.90M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $25.40M USD 1 Quarter
Proceeds from the disposition of assets ProceedsFromSaleOfProductiveAssets $1.70M USD 1 Quarter
Proceeds from the disposition of assets ProceedsFromSaleOfProductiveAssets $1.50M USD 1 Quarter
Cost of acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $-5.20M USD 1 Quarter
Cost of investments in equity securities PaymentsToAcquireMarketableSecurities $51.60M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-77.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-18.50M USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $370.00M USD 1 Quarter
Issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $380.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $130.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $260.00M USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $18.40M USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $10.60M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfCommonStock $150.00M USD 1 Quarter
Treasury stock purchases PaymentsForRepurchaseOfCommonStock $54.10M 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 $7.80M USD 1 Quarter
Dividends to stockholders PaymentsOfDividends $33.50M USD 1 Quarter
Dividends to stockholders PaymentsOfDividends $36.00M USD 1 Quarter
Other financing, net ProceedsFromPaymentsForOtherFinancingActivities $100.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $22.80M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $77.30M 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 $1.70M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-63.20M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-28.50M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $425.00M USD Point-in-time
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 $394.90M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $361.80M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $425.00M 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 $394.90M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $361.80M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.78B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.92B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.43B USD Point-in-time
Net income ProfitLoss $108.80M USD 1 Quarter
Net income ProfitLoss $177.80M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $4.10M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-50.60M USD 1 Quarter
Stock options exercised StockIssuedDuringPeriodValueStockOptionsExercised $17.30M USD 1 Quarter
Stock options exercised StockIssuedDuringPeriodValueStockOptionsExercised $18.40M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.80M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.50M USD 1 Quarter
Treasury stock purchases TreasuryStockValueAcquiredCostMethod $54.10M USD 1 Quarter
Treasury stock purchases TreasuryStockValueAcquiredCostMethod $150.00M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.78B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.92B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.36B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.43B USD Point-in-time

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

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