The financial statements of adidas (DEU) and Puma (DEU) are presented in Appendices B and C, respectively. The complete annual reports, including the notes to the financial statements, are available online.

Instructions

Use the companies’ financial information to answer the following questions.

a. Which company had the greater percentage increase in revenues from 2017 to 2018?

b. Did either company report the effect of a discontinued operation in its income statement? Briefly describe how the reporting of a discontinued operation can affect comparisons between two companies.

c. Which company had more depreciation and amortization expense as a percentage of operating cash flow for 2018?

d. Did either company report profit attributed to non-controlling interests? If so, what are the amounts of the non-controlling interest for each company?