MGAB02H3 Chapter Notes - Chapter 5,12: Startup Company, Liquigas, Free Cash Flow
Get access
Related Documents
Related Questions
What are the coverage ratios for the following data (using formula below)? Please show how you came up with solution. Thank you Times interest earned = EBIT / Interest expense = ?? Times burden covered = EBIT / Interest + Principal repayment / 1 - tax rate = ??
MICROSOFT CORP BALANCE SHEET | ||
2014 | 2015 | |
Assets | ||
Cash | ||
Cash and cash equivalents | $8,669 | $5,595 |
Short-term investments | $77,040 | $90,931 |
Total cash | $85,709 | $96,526 |
Receivables | $19,544 | $17,908 |
Inventories | $2,660 | $2,902 |
Deferred income taxes | $1,941 | $1,915 |
Other current assets | $4,392 | $5,461 |
Total current assets | $114,246 | $124,712 |
Non-current assets | ||
Gross property, plant and equipment | $27,804 | $32,337 |
Accumulated Depreciation | -$14,793 | -$17,606 |
Net property, plant and equipment | $13,011 | $14,731 |
Equity and other investments | $14,597 | $12,053 |
Goodwill | $20,127 | $16,939 |
Intangible assets | $6,981 | $4,835 |
Other long-term assets | $3,422 | $2,953 |
Total non-current assets | $58,138 | $51,511 |
Total assets | $172,384 | $176,223 |
Liabilities and stockholders' equity | ||
Liabilities | ||
Current liabilities | ||
Short-term debt | $2,000 | $7,484 |
Accounts payable | $7,432 | $6,591 |
Taxes payable | $782 | $606 |
Accrued liabilities | $4,797 | $5,096 |
Deferred revenues | $23,150 | $23,223 |
Other current liabilities | $7,464 | $6,858 |
Total current liabilities | $45,625 | $49,858 |
Non-current liabilities | ||
Long-term debt | $20,645 | $27,808 |
Deferred taxes liabilities | $2,728 | $2,835 |
Deferred revenues | $2,008 | $2,095 |
Other long-term liabilities | $11,594 | $13,544 |
Total non-current liabilities | $36,975 | $46,282 |
Total liabilities | $82,600 | $96,140 |
Stockholders' equity | ||
Common stock | $68,366 | $68,465 |
Retained earnings | $17,710 | $9,096 |
Accumulated other comprehensive income | $3,708 | $2,522 |
Total stockholders' equity | $89,784 | $80,083 |
Total liabilities and stockholders' equity | $172,384 | $176,223 |
MICROSOFT CORP INCOME STATEMENT | ||
(USD in millions except per share data) | 2014 | 2015 |
Revenue | $86,833 | $93,580 |
Cost of revenue | $26,934 | $33,038 |
Gross profit | $59,899 | $60,542 |
Operating expenses | ||
Research and development | $11,381 | $12,046 |
Sales, General and administrative | $20,632 | $20,324 |
Restructuring, merger and acquisition | $127 | $0 |
Other operating expenses | $0 | $10,011 |
Total operating expenses | $32,140 | $42,381 |
Operating income | $27,759 | $18,161 |
Interest Expense | $597 | $781 |
Other income (expense) | $658 | $1,127 |
Income before taxes | $27,820 | $18,507 |
Provision for income taxes | $5,746 | $6,314 |
Net income from continuing operations | $22,074 | $12,193 |
Net income | $22,074 | $12,193 |
Net income available to common shareholders | $22,074 | $12,193 |
Earnings per share | ||
Basic | $2.66 | $1.49 |
Diluted | $2.63 | $1.48 |
Weighted average shares outstanding | ||
Basic | $8,299 | $8,177 |
Diluted | $8,399 | $8,254 |
EBITDA | $33,629 | $25,245 |
MICROSOFT CORP CASH FLOW STATEMENT | ||
(USD in millions except per share data) | 2014 | 2015 |
Cash Flows From Operating Activities | ||
Net income | $22,074 | $12,193 |
Depreciation & amortization | $5,212 | $5,957 |
Investment/asset impairment charges | $0 | $7,498 |
Investments losses (gains) | -$109 | -$443 |
Deferred income taxes | -$331 | $224 |
Stock based compensation | $2,446 | $2,574 |
Accounts receivable | -$1,120 | $1,456 |
Inventory | -$161 | -$272 |
Accounts payable | $473 | -$1,054 |
Other working capital | $1,432 | $1,383 |
Other non-cash items | $2,315 | -$436 |
Net cash provided by operating activities | $32,231 | $29,080 |
Cash Flows From Investing Activities | ||
Investments in property, plant, and equipment | -$5,485 | -$5,944 |
Acquisitions, net | -$5,937 | -$3,723 |
Purchases of investments | -$72,690 | -$98,729 |
Sales/Maturities of investments | $65,366 | $85,861 |
Other investing activities | -$87 | -$466 |
Net cash used for investing activities | -$18,833 | -$23,001 |
Cash Flows From Financing Activities | ||
Debt issued | $10,350 | $10,680 |
Debt repayment | -$3,888 | -$1,500 |
Common stock issued | $607 | $634 |
Common stock repurchased | -$7,316 | -$14,443 |
Excess tax benefit from stock based compensation | $271 | $588 |
Dividend paid | -$8,879 | -$9,882 |
Other financing activities | $461 | $4,843 |
Net cash provided by (used for) financing activities | -$8,394 | -$9,080 |
Effect of exchange rate changes | -$139 | -$73 |
Net change in cash | $4,865 | -$3,074 |
Cash at beginning of period | $3,804 | $8,669 |
Cash at end of period | $8,669 | $5,595 |
Free Cash Flow | ||
Operating cash flow | $32,231 | $29,080 |
Capital expenditure | -$5,485 | -$5,944 |
Free cash flow | $26,746 | $23,136 |
Prepare a report on disclosure issues related to the segment and noncontrolling interest information for HP. I am not allowed to attach a website per this website my last post was flagged but any website containg this infomration is fine!! I am just having an issue talking about and understand their non controlling interests.
I'm not really sutre what infomrtaion is needed
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Consolidated Balance Sheets
October 31 | |||||||||
---|---|---|---|---|---|---|---|---|---|
2011 | 2010 | ||||||||
In millions, except par value | |||||||||
ASSETS | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 8,043 | $ | 10,929 | |||||
Accounts receivable | 18,224 | 18,481 | |||||||
Financing receivables | 3,162 | 2,986 | |||||||
Inventory | 7,490 | 6,466 | |||||||
Other current assets | 14,102 | 15,322 | |||||||
Total current assets | 51,021 | 54,184 | |||||||
Property, plant and equipment | 12,292 | 11,763 | |||||||
Long-term financing receivables and other assets | 10,755 | 12,225 | |||||||
Goodwill | 44,551 | 38,483 | |||||||
Purchased intangible assets | 10,898 | 7,848 | |||||||
Total assets | $ | 129,517 | $ | 124,503 | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||
Current liabilities: | |||||||||
Notes payable and short-term borrowings | $ | 8,083 | $ | 7,046 | |||||
Accounts payable | 14,750 | 14,365 | |||||||
Employee compensation and benefits | 3,999 | 4,256 | |||||||
Taxes on earnings | 1,048 | 802 | |||||||
Deferred revenue | 7,449 | 6,727 | |||||||
Accrued restructuring | 654 | 911 | |||||||
Other accrued liabilities | 14,459 | 15,296 | |||||||
Total current liabilities | 50,442 | 49,403 | |||||||
Long-term debt | 22,551 | 15,258 | |||||||
Other liabilities | 17,520 | 19,061 | |||||||
Commitments and contingencies | |||||||||
Stockholders' equity: | |||||||||
HP stockholders' equity | |||||||||
Preferred stock, $0.01 par value (300 shares authorized; none issued) | â | â | |||||||
Common stock, $0.01 par value (9,600 shares authorized; 1,991 and 2,204 shares issued and outstanding, respectively) | 20 | 22 | |||||||
Additional paid-in capital | 6,837 | 11,569 | |||||||
Retained earnings | 35,266 | 32,695 | |||||||
Accumulated other comprehensive loss | (3,498 | ) | (3,837 | ) | |||||
Total HP stockholders' equity | 38,625 | 40,449 | |||||||
Non-controlling interests | 379 | 332 | |||||||
Total stockholders' equity | 39,004 | 40,781 | |||||||
Total liabilities and stockholders' equity | $ | 129,517 | $ | 124,503 | |||||
The accompanying notes are an integral part of these Consolidated Financial Statements.
76
Table of Contents
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Consolidated Statements of Cash Flows
For the fiscal years ended October 31 | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2011 | 2010 | 2009 | ||||||||||||
In millions | ||||||||||||||
Cash flows from operating activities: | ||||||||||||||
Net earnings | $ | 7,074 | $ | 8,761 | $ | 7,660 | ||||||||
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||||||||
Depreciation and amortization | 4,984 | 4,820 | 4,780 | |||||||||||
Impairment of goodwill and purchased intangible assets | 885 | â | â | |||||||||||
Stock-based compensation expense | 685 | 668 | 635 | |||||||||||
Provision for doubtful accountsâaccounts and financing receivables | 81 | 156 | 345 | |||||||||||
Provision for inventory | 217 | 189 | 221 | |||||||||||
Restructuring charges | 645 | 1,144 | 640 | |||||||||||
Deferred taxes on earnings | 166 | 197 | 379 | |||||||||||
Excess tax benefit from stock-based compensation | (163 | ) | (294 | ) | (162 | ) | ||||||||
Other, net | (46 | ) | 169 | 22 | ||||||||||
Changes in assets and liabilities: | ||||||||||||||
Accounts and financing receivables | (227 | ) | (2,398 | ) | (549 | ) | ||||||||
Inventory | (1,252 | ) | (270 | ) | 1,532 | |||||||||
Accounts payable | 275 | (698 | ) | (153 | ) | |||||||||
Taxes on earnings | 610 | 723 | 733 | |||||||||||
Restructuring | (1,002 | ) | (1,334 | ) | (1,237 | ) | ||||||||
Other assets and liabilities | (293 | ) | 89 | (1,467 | ) | |||||||||
Net cash provided by operating activities | 12,639 | 11,922 | 13,379 | |||||||||||
Cash flows from investing activities: | ||||||||||||||
Investment in property, plant and equipment | (4,539 | ) | (4,133 | ) | (3,695 | ) | ||||||||
Proceeds from sale of property, plant and equipment | 999 | 602 | 495 | |||||||||||
Purchases of available-for-sale securities and other investments | (96 | ) | (51 | ) | (160 | ) | ||||||||
Maturities and sales of available-for-sale securities and other investments | 68 | 200 | 171 | |||||||||||
Payments in connection with business acquisitions, net of cash acquired | (10,480 | ) | (8,102 | ) | (391 | ) | ||||||||
Proceeds from business divestiture, net | 89 | 125 | â | |||||||||||
Net cash used in investing activities | (13,959 | ) | (11,359 | ) | (3,580 | ) | ||||||||
Cash flows from financing activities: | ||||||||||||||
(Payments) issuance of commercial paper and notes payable, net | (1,270 | ) | 4,156 | (6,856 | ) | |||||||||
Issuance of debt | 11,942 | 3,156 | 6,800 | |||||||||||
Payment of debt | (2,336 | ) | (1,323 | ) | (2,710 | ) | ||||||||
Issuance of common stock under employee stock plans | 896 | 2,617 | 1,837 | |||||||||||
Repurchase of common stock | (10,117 | ) | (11,042 | ) | (5,140 | ) | ||||||||
Excess tax benefit from stock-based compensation | 163 | 294 | 162 | |||||||||||
Cash dividends paid | (844 | ) | (771 | ) | (766 | ) | ||||||||
Net cash used in financing activities | (1,566 | ) | (2,913 | ) | (6,673 | ) | ||||||||
(Decrease) increase in cash and cash equivalents | (2,886 | ) | (2,350 | ) | 3,126 | |||||||||
Cash and cash equivalents at beginning of period | 10,929 | 13,279 | 10,153 | |||||||||||
Cash and cash equivalents at end of period | $ | 8,043 | $ | 10,929 | $ | 13,279 | ||||||||
The accompanying notes are an integral part of these Consolidated Financial Statements.