ACC201: Financial Accounting
Old Chang Kee Ltd., an investment holding company, manufactures and distributes food products under the Old Chang Kee brand in Singapore, Australia, and Malaysia. The company offers traditional, seafood, and chicken favourites, as well as desserts and breakfast products. It also operates retail food outlets; provides general trading, and delivery and catering services; and franchises rights to sell its products. The company operates Curry Times, a curry themed restaurant; Curry Times Tingkat, a self-service concept store; Bun Times retail outlets offering buns; Mushroom Caf, an al fresco concept eatery; O My Darling, a mobile kitchen; and DipnGo, a concept of food on the go. As of March 31, 2019, it operated a total of 86 outlets in Singapore.
Question:
Recently, Old Chang Kee had garnered negative attention in the news for using palm oil from potentially unsustainable sources and are accused of contributing to forest fires and environment damage. Old Chang Kee has promised to look into their cooking oil quality to ensure that it can meet the authorities endorsement and certification. You are the credit manager of an oil supplier that has been approached by Old Chang Kee. Due to Old Chang Kees expanding business and larger orders, it is expected that Old Chang Kee may request for a generous credit term as they switch their supplier. You are therefore tasked to conduct some research and analysis on Old Chang Kee, with the main objective of assessing its liquidity so as to decide on the credit terms to be extended.
(d) (i) Determine the total cost of Old Chang Kees Property, Plant & Equipment (PPE) for the latest TWO financial years. (2 marks)
(ii) Illustrate the accounting of the PPE during the latest financial year by showing the Taccounts for the PPE cost and its Accumulated Depreciation. (11 marks)
(iii) Demonstrate how Old Chang Kee had accounted for its PPE by describing the following: How does the business depreciate its PPE? State the range of useful lives of the PPE. Discuss any matter that may be material to an external stakeholder, regarding the PPE. (4 marks)
12 months 12 months Mar-31-2019 12 months Mar-31-2015 12 months 12 months 12 months Jun-30-2019 For the Fiscal Period Ending Currency Mar-31-2016 Mar-31-2017 Mar-31-2018 SGD SGD SGD SGD SGD SGD INCOME STATEMENT 89.1 73.9 ERevenue Other Revenue 71.6 78.3 85.5 89.8 73.9 Total Revenue 71.6 78.3 85.5 89.8 89.1 27.2 28.7 33.2 Cost Of Goods Sold 27.0 32.3 57.5 32.3 Gross Profit 56.8 44.7 46.6 49.6 52.2 Selling General & Admin Exp. R & D Exp. Depreciation & Amort Other Operating Expense/(Income) 38.1 41.0 43.9 47.1 50.9 50.8 - 0.9 0.9 1.1 1.5 1.4 1.4 Other Operating Exp., Total 39.1 41.9 45.0 48.5 52.4 52.2 Operating Income 5.6 4.7 4.6 3.7 5.2 4.6 Interest Expense Interest and Invest. Income Net Interest Exp (0.1) 0.0 (0.2) 0.0 (0.2) (0.3) 0.0 (0.3) 0.1 (0.5) 0.1 0.1 (0.1) (0.1) (0.2) (0.3) (0.4) (0.2) Income/(Loss) from Affiliates Currency Exchange Gains (Loss) Other Non-Operating Inc. (Exp.) EBT Excl. Unusual Items (0.1) (0.3) (0.2) 0.5 (0.3) (0.3) 0.5 (0.2) (0.3) 0.7 (0.4) 0.6 0.2 0.7 0.9 6.0 5.0 4.5 4.8 4.9 4.1 Impairment of Goodwill Gain (Loss) On Sale Of Invest. Gain (Loss) On Sale Of Assets Asset Writedown Insurance Settlements Other Unusual Items EBT Incl. Unusual Items (0.2) 0.2 (0.0) 0.1 (0.0) 0.1 0.1 0.0 0.0 (0.1) 0.0 (0.0) 0.3 (3.1) 0.0 (0.3) 0.1 (0.1) 0.1 (0.1) 0.1 0.7 0.9 0.7 0.5 0.5 0.5 6.7 6.1 2.4 4.7 5.4 4.6 Income Tax Expense Earnings from Cont. Ops. 0.7 1.0 0.9 1.4 1.1 1.1 5.3 5.0 1.7 3.8 4.3 3.7 Earnings of Discontinued Ops. Extraord. Item & Account. Change Net Income to Company 3.7 5.3 5.0 1.7 3.8 4.3 Minority Int. in Earnings 1.7 5.3 5.0 3.7 Net Income 3.8 4.3 Pref, Dividends and Other Adi. NI to Common Incl Extra Items 5.3 5.0 1.7 3.8 4.3 3.7 NI to Common Excl. Extra Items 5.3 5.0 3.8 4.3 3.7 1.7 Per Share Items 0.03 Basic EPS 0.04 0.04 0.01 0.03 0.04 0.01 Basic EPS Excl. Extra Items 0.04 0.04 0.03 0.04 0.03 121. Weighted Avg. Basic Shares Out. 121.4 121.4 121.4 121.4 121.4 Diluted EPS 0.04 0.04 0.01 0.03 0.04 0.03 0.03 Diluted EPS Excl. Extra Items 0.04 0.04 0.01 0.03 0.04 121.4 Weighted Avg. Diluted Shares Out. 121.4 121.4 121.4 121.4 121.4 Normalized Basic EPS Normalized Diluted EPS 0.03 0.03 0.02 0.02 0.03 0.03 0.02 0.02 0.03 0.03 0.02 0.02 Dividends per Share Payout Ratio % 0.03 0.03 0.03 0.03 0.03 0.03 83.9% 68.9 % NA 208.7% 96.2 % 98.9% Supplemental Items EBITDA 9.4 5.6 8.8 4.7 9.1 4.6 8.7 3.7 10.4 5.2 9.8 BITA BIT EBITDAR 4.E 4.E 5.6 19.4 4.7 4.6 3.7 5.2 24.5 19.6 20.9 21.7 NA 18.4% 0.5 19.8% 1.2 (0.1) Effective Tax Rate % Total Current Taxes Total Deferred Taxes 21.2% 1.5 28.2% 1.0 20.1% 0.6 20.2% 1.C (0.1 (0.1) 0.6 (0.4) 0.4 Normalized Net Income Interest on Long Term Debt Filing Date Restatement Type Calculation Type 3.8 3.1 3.0 2.8 3.0 2.5 0.1 0.2 Jul-10-2017 0.0 0.0 0.0 NA Aug-14-2019 C LTM Jul-08-2016 Jul-09-2018 Jul-09-2019 Jul-09-2019 NC NC NC REP RS REP O REP REP REP Supplemental Operating Expense Items Selling and Marketing Exp. General and Administrative Exp. Net Rental Exp Imputed Oper. Lease Interest Exp. Imputed Oper. Lease Depreciation 27.9 30.2 10.8 32.3 35.3 38.0 38.C 11.6 11.7 11.8 13.0 10.3 9.9 12.9 12.7 10.8 2.0 8.8 14.1 NA 1.4 1.7 10.0 2.8 3.5 10.6 8.5 10.2 ASSETS Cash And Equivalents Short Term Investments 15.6 1.0 12.8 1.0 20.1 19.4 15.4 14.9 0.8 0.8 1.4 1.2 Total Cash & ST Investments 21.6 20.6 16.6 13.8 16.2 15.6 Accounts Receivable Other Receivables Total Receivables 0.1 0.2 0.3 0.3 0.5 0.4 0.5 0.5 0.1 0.2 0.3 0.3 1.0 0.9 1.2 Inventory Prepaid Exp. Restricted Cash Other Current Assets 0.5 1.4 0.7 1.7 0.7 1.1 1.0 2.9 1.2 1.3 1.0 2.5 0.0 19.3 Total Current Assets 23.6 23.1 20.5 16.5 21.3 Gross Property, Plant & Equipment Accumulated Depreciation Net Property, Plant & Equipment Long-term Investments Other Intangibles Other Long-Term Assets 48.3 48.4 49.5 56.3 56.2 (21.9) (27.7) (21.9) (19.5) (24.7) 26.4 28.9 27.6 31.6 28.5 47.9 0.3 0.3 0.3 0.5 0.4 0.3 0.0 0.4 0.4 0.3 0.2 0.2 1.8 1.7 2.0 2.4 2.6 2.8 72.5 54.5 Total Assets 50.7 52.1 51.3 50.9 LIABILITIES Accounts Payable Accrued Exp. Curr. Port. of LT Debt 3.2 4.5 5.4 4.2 3.6 8.0 2.9 2.5 3.1 3.0 3.4 0.9 0.9 0.1 4.2 0.1 1.4 0.2 1.4 0.1 1.2 9.4 Curr. Port. of Cap. Leases Curr. Income Taxes Payable Unearned Revenue, Current Other Current Liabilities 0.1 1.4 0.5 1.1 0.7 1.3 1.6 0.0 0.4 2.7 1.9 2.0 10.9 2.2 3.2 2.6 Total Current Liabilities 10.0 16.2 13.0 12.8 22.8 Long-Term Debt Capital Leases Def. Tax Liability, Non-Curr. Other Non-Current Liabilities 7.3 0.4 1.1 7.0 0.3 1.7 6.0 9.2 7.7 7.6 0.2 1.0 0.5 1.3 0.5 1.3 11.8 1.2 43.4 Total Liabilities 23.3 23.8 18.8 19.9 22.5 Common Stock Additional Paid In Capital Retained Earnings Treasury Stock Comprehensive Inc. and Other Total Common Equity 14.0 14.0 14.0 14.0 14.0 14.0 16.3 17.7 12.1 13.5 14.4 15.0 3.0 3.0 1.3 27.4 0.0 0.1 28.5 0.1 27.5 33.3 34.6 29.1 Total Equity 33.3 34.6 27.4 27.5 28.5 29.1 Total Liabilities And Equity 50.9 52.1 54.5 50.7 51.3 72.5 Other Long-Term Assets 1.8 1.7 2.0 2.4 2.6 2.8 54.5 Total Assets 52.1 50.7 51.3 50.9 72.5 LIABILITIES Accounts Payable Accrued Exp. 3.2 4.5 5.4 4.2 3.6 8.0 3.4 1.4 0.1 1.3 2.5 0.9 2.9 0.9 0.1 3.1 4.2 0.1 1.1 3.0 1.4 0.2 Curr. Port. of LT Debt Curr. Port. of Cap. Leases Curr. Income Taxes Payable Unearned Revenue, Current Other Current Liabilities Total Current Liabilities 1.2 9.4 0.1 1.4 0.5 0.7 1.6 0.0 0.4 2.7 1.9 2.0 2.2 3.2 2.6 22.8 10.9 10.0 16.2 12.8 13.0 7.3 7.0 6.0 9.2 0.5 7.7 0.5 7.6 11.8 Long-Term Debt Capital Leases Def. Tax Liability, Non-Curr. 0.4 0.3 0.2 1.1 1.7 1.0 1.3 1.3 1.2 Other Non-Current Liabilities Total Liabilities 23.8 18.8 19.9 23.3 22.5 43.4 Common Stock Additional Paid In Capital Retained Earnings Treasury Stock Comprehensive Inc. and Other Total Common Equity 14.0 14.0 14.0 14.0 14.0 14.0 17.7 16.3 12.1 13.5 14.4 15.0 3.0 3.0 1.3 0.0 0.1 0.1 33.3 34.6 27.4 27.5 28.5 29.1 Total Equity 33.3 34.6 27.4 27.5 28.5 29.1 Total Liabilities And Equity 52.1 54.5 50.7 51.3 50.9 72.5 Supplemental Items Total Shares Out. on Filing Date Total Shares Out. on Balance Sheet Date Book Value/Share Tangible Book Value Tangible Book Value/Share Total Debt 121.4 121.4 121.4 121.4 0.23 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 0.27 33.3 0.27 8.7 0.29 34.2 0.28 8.3 0.23 27.2 0.22 11.3 0.23 28.2 0.23 9.8 0.24 28.8 0.24 30.1 27.0 0.22 10.5 Total Liabilities And Equity 52.1 54.5 50.7 51.3 50.9 72.5 Supplemental Items Total Shares Out. on Filing Date Total Shares Out. on Balance Sheet Date Book Value/Share Tangible Book Value Tangible Book Value/Share Total Debt 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 0.23 0.23 27.2 0.22 0.23 0.27 0.29 0.24 33.3 0.27 34.2 27.0 28.2 28.8 0.28 0.22 0.23 0.24 8.7 8.3 10.5 11.3 9.8 30.1 Balance Sheet (12.9) 79.5 (12.3) 86.6 Net Debt (6.1) 93.9 (2.5) 103.6 (6.4) 112.5 0.2 14.5 Debt Equivalent Oper. Leases Equity Method Investments Inventory Method Raw Materials Inventory Land Buildings Machinery Construction in Progress NA NA NA NA 0.5 0.1 FIFO FIFO FIFO FIFO FIFO NA 0.5 0.7 0.7 1,2 NA 1.1 0.9 0.8 0.9 0.9 0.9 NA 9.7 13.7 7,3 11.9 31.4 11.9 31.2 NA 20.1 7.7 24.1 0.1 25.3 NA 5.0 Accum. Allowance for Doubtful Accts 0.1 0.1 0.1 0.1 1.2 NA Jul-08-2016 Jul-10-2017 Jul-09-2019 Jul-09-2019 Filing Date Restatement Type Calculation Type Jul-09-2018 Aug-14-2019 RS NC NC NC REP REP REP REP REP REP Cashflow 5.3 5.0 3.8 (0.1) (0.0) 0,0 0.01 3.1 (0.0 (0.1) (0.2) 0.0 (0.4) 8.13 (1.5) 9.6 0.1) 9.6 10.5 (8.6) (6,7) (.3 (8.5) (13) (0.0) (0.0) (0.4) (0.0) (19) 0.3 8.5 Debt Repaid Co8) Total Rebt Bepaid (12.2) Common Dividends Paid Total Dividends Paid (3.6 Special Dividend Paid Cash from Financing (3.5) (8.09 (4.3) (0.7) (0.2) (2.8) (0.4) Net Change in Cash Supplemental Items 0.2 0.3 0.3 Levered Free Cash Flow 0.2 0.4) (0.4 Jul-10-2017 (0.3) 0.6 nlevered Free Cash Flow Net Debt Issued Filing Date ati (0,6) (1.7) Jul-09-2019 2.2 0.1 Aug-14-2019 Jul-09-201 Jul-09-2018 REP LTM un un m aaa 12 months 12 months Mar-31-2019 12 months Mar-31-2015 12 months 12 months 12 months Jun-30-2019 For the Fiscal Period Ending Currency Mar-31-2016 Mar-31-2017 Mar-31-2018 SGD SGD SGD SGD SGD SGD INCOME STATEMENT 89.1 73.9 ERevenue Other Revenue 71.6 78.3 85.5 89.8 73.9 Total Revenue 71.6 78.3 85.5 89.8 89.1 27.2 28.7 33.2 Cost Of Goods Sold 27.0 32.3 57.5 32.3 Gross Profit 56.8 44.7 46.6 49.6 52.2 Selling General & Admin Exp. R & D Exp. Depreciation & Amort Other Operating Expense/(Income) 38.1 41.0 43.9 47.1 50.9 50.8 - 0.9 0.9 1.1 1.5 1.4 1.4 Other Operating Exp., Total 39.1 41.9 45.0 48.5 52.4 52.2 Operating Income 5.6 4.7 4.6 3.7 5.2 4.6 Interest Expense Interest and Invest. Income Net Interest Exp (0.1) 0.0 (0.2) 0.0 (0.2) (0.3) 0.0 (0.3) 0.1 (0.5) 0.1 0.1 (0.1) (0.1) (0.2) (0.3) (0.4) (0.2) Income/(Loss) from Affiliates Currency Exchange Gains (Loss) Other Non-Operating Inc. (Exp.) EBT Excl. Unusual Items (0.1) (0.3) (0.2) 0.5 (0.3) (0.3) 0.5 (0.2) (0.3) 0.7 (0.4) 0.6 0.2 0.7 0.9 6.0 5.0 4.5 4.8 4.9 4.1 Impairment of Goodwill Gain (Loss) On Sale Of Invest. Gain (Loss) On Sale Of Assets Asset Writedown Insurance Settlements Other Unusual Items EBT Incl. Unusual Items (0.2) 0.2 (0.0) 0.1 (0.0) 0.1 0.1 0.0 0.0 (0.1) 0.0 (0.0) 0.3 (3.1) 0.0 (0.3) 0.1 (0.1) 0.1 (0.1) 0.1 0.7 0.9 0.7 0.5 0.5 0.5 6.7 6.1 2.4 4.7 5.4 4.6 Income Tax Expense Earnings from Cont. Ops. 0.7 1.0 0.9 1.4 1.1 1.1 5.3 5.0 1.7 3.8 4.3 3.7 Earnings of Discontinued Ops. Extraord. Item & Account. Change Net Income to Company 3.7 5.3 5.0 1.7 3.8 4.3 Minority Int. in Earnings 1.7 5.3 5.0 3.7 Net Income 3.8 4.3 Pref, Dividends and Other Adi. NI to Common Incl Extra Items 5.3 5.0 1.7 3.8 4.3 3.7 NI to Common Excl. Extra Items 5.3 5.0 3.8 4.3 3.7 1.7 Per Share Items 0.03 Basic EPS 0.04 0.04 0.01 0.03 0.04 0.01 Basic EPS Excl. Extra Items 0.04 0.04 0.03 0.04 0.03 121. Weighted Avg. Basic Shares Out. 121.4 121.4 121.4 121.4 121.4 Diluted EPS 0.04 0.04 0.01 0.03 0.04 0.03 0.03 Diluted EPS Excl. Extra Items 0.04 0.04 0.01 0.03 0.04 121.4 Weighted Avg. Diluted Shares Out. 121.4 121.4 121.4 121.4 121.4 Normalized Basic EPS Normalized Diluted EPS 0.03 0.03 0.02 0.02 0.03 0.03 0.02 0.02 0.03 0.03 0.02 0.02 Dividends per Share Payout Ratio % 0.03 0.03 0.03 0.03 0.03 0.03 83.9% 68.9 % NA 208.7% 96.2 % 98.9% Supplemental Items EBITDA 9.4 5.6 8.8 4.7 9.1 4.6 8.7 3.7 10.4 5.2 9.8 BITA BIT EBITDAR 4.E 4.E 5.6 19.4 4.7 4.6 3.7 5.2 24.5 19.6 20.9 21.7 NA 18.4% 0.5 19.8% 1.2 (0.1) Effective Tax Rate % Total Current Taxes Total Deferred Taxes 21.2% 1.5 28.2% 1.0 20.1% 0.6 20.2% 1.C (0.1 (0.1) 0.6 (0.4) 0.4 Normalized Net Income Interest on Long Term Debt Filing Date Restatement Type Calculation Type 3.8 3.1 3.0 2.8 3.0 2.5 0.1 0.2 Jul-10-2017 0.0 0.0 0.0 NA Aug-14-2019 C LTM Jul-08-2016 Jul-09-2018 Jul-09-2019 Jul-09-2019 NC NC NC REP RS REP O REP REP REP Supplemental Operating Expense Items Selling and Marketing Exp. General and Administrative Exp. Net Rental Exp Imputed Oper. Lease Interest Exp. Imputed Oper. Lease Depreciation 27.9 30.2 10.8 32.3 35.3 38.0 38.C 11.6 11.7 11.8 13.0 10.3 9.9 12.9 12.7 10.8 2.0 8.8 14.1 NA 1.4 1.7 10.0 2.8 3.5 10.6 8.5 10.2 ASSETS Cash And Equivalents Short Term Investments 15.6 1.0 12.8 1.0 20.1 19.4 15.4 14.9 0.8 0.8 1.4 1.2 Total Cash & ST Investments 21.6 20.6 16.6 13.8 16.2 15.6 Accounts Receivable Other Receivables Total Receivables 0.1 0.2 0.3 0.3 0.5 0.4 0.5 0.5 0.1 0.2 0.3 0.3 1.0 0.9 1.2 Inventory Prepaid Exp. Restricted Cash Other Current Assets 0.5 1.4 0.7 1.7 0.7 1.1 1.0 2.9 1.2 1.3 1.0 2.5 0.0 19.3 Total Current Assets 23.6 23.1 20.5 16.5 21.3 Gross Property, Plant & Equipment Accumulated Depreciation Net Property, Plant & Equipment Long-term Investments Other Intangibles Other Long-Term Assets 48.3 48.4 49.5 56.3 56.2 (21.9) (27.7) (21.9) (19.5) (24.7) 26.4 28.9 27.6 31.6 28.5 47.9 0.3 0.3 0.3 0.5 0.4 0.3 0.0 0.4 0.4 0.3 0.2 0.2 1.8 1.7 2.0 2.4 2.6 2.8 72.5 54.5 Total Assets 50.7 52.1 51.3 50.9 LIABILITIES Accounts Payable Accrued Exp. Curr. Port. of LT Debt 3.2 4.5 5.4 4.2 3.6 8.0 2.9 2.5 3.1 3.0 3.4 0.9 0.9 0.1 4.2 0.1 1.4 0.2 1.4 0.1 1.2 9.4 Curr. Port. of Cap. Leases Curr. Income Taxes Payable Unearned Revenue, Current Other Current Liabilities 0.1 1.4 0.5 1.1 0.7 1.3 1.6 0.0 0.4 2.7 1.9 2.0 10.9 2.2 3.2 2.6 Total Current Liabilities 10.0 16.2 13.0 12.8 22.8 Long-Term Debt Capital Leases Def. Tax Liability, Non-Curr. Other Non-Current Liabilities 7.3 0.4 1.1 7.0 0.3 1.7 6.0 9.2 7.7 7.6 0.2 1.0 0.5 1.3 0.5 1.3 11.8 1.2 43.4 Total Liabilities 23.3 23.8 18.8 19.9 22.5 Common Stock Additional Paid In Capital Retained Earnings Treasury Stock Comprehensive Inc. and Other Total Common Equity 14.0 14.0 14.0 14.0 14.0 14.0 16.3 17.7 12.1 13.5 14.4 15.0 3.0 3.0 1.3 27.4 0.0 0.1 28.5 0.1 27.5 33.3 34.6 29.1 Total Equity 33.3 34.6 27.4 27.5 28.5 29.1 Total Liabilities And Equity 50.9 52.1 54.5 50.7 51.3 72.5 Other Long-Term Assets 1.8 1.7 2.0 2.4 2.6 2.8 54.5 Total Assets 52.1 50.7 51.3 50.9 72.5 LIABILITIES Accounts Payable Accrued Exp. 3.2 4.5 5.4 4.2 3.6 8.0 3.4 1.4 0.1 1.3 2.5 0.9 2.9 0.9 0.1 3.1 4.2 0.1 1.1 3.0 1.4 0.2 Curr. Port. of LT Debt Curr. Port. of Cap. Leases Curr. Income Taxes Payable Unearned Revenue, Current Other Current Liabilities Total Current Liabilities 1.2 9.4 0.1 1.4 0.5 0.7 1.6 0.0 0.4 2.7 1.9 2.0 2.2 3.2 2.6 22.8 10.9 10.0 16.2 12.8 13.0 7.3 7.0 6.0 9.2 0.5 7.7 0.5 7.6 11.8 Long-Term Debt Capital Leases Def. Tax Liability, Non-Curr. 0.4 0.3 0.2 1.1 1.7 1.0 1.3 1.3 1.2 Other Non-Current Liabilities Total Liabilities 23.8 18.8 19.9 23.3 22.5 43.4 Common Stock Additional Paid In Capital Retained Earnings Treasury Stock Comprehensive Inc. and Other Total Common Equity 14.0 14.0 14.0 14.0 14.0 14.0 17.7 16.3 12.1 13.5 14.4 15.0 3.0 3.0 1.3 0.0 0.1 0.1 33.3 34.6 27.4 27.5 28.5 29.1 Total Equity 33.3 34.6 27.4 27.5 28.5 29.1 Total Liabilities And Equity 52.1 54.5 50.7 51.3 50.9 72.5 Supplemental Items Total Shares Out. on Filing Date Total Shares Out. on Balance Sheet Date Book Value/Share Tangible Book Value Tangible Book Value/Share Total Debt 121.4 121.4 121.4 121.4 0.23 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 0.27 33.3 0.27 8.7 0.29 34.2 0.28 8.3 0.23 27.2 0.22 11.3 0.23 28.2 0.23 9.8 0.24 28.8 0.24 30.1 27.0 0.22 10.5 Total Liabilities And Equity 52.1 54.5 50.7 51.3 50.9 72.5 Supplemental Items Total Shares Out. on Filing Date Total Shares Out. on Balance Sheet Date Book Value/Share Tangible Book Value Tangible Book Value/Share Total Debt 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 121.4 0.23 0.23 27.2 0.22 0.23 0.27 0.29 0.24 33.3 0.27 34.2 27.0 28.2 28.8 0.28 0.22 0.23 0.24 8.7 8.3 10.5 11.3 9.8 30.1 Balance Sheet (12.9) 79.5 (12.3) 86.6 Net Debt (6.1) 93.9 (2.5) 103.6 (6.4) 112.5 0.2 14.5 Debt Equivalent Oper. Leases Equity Method Investments Inventory Method Raw Materials Inventory Land Buildings Machinery Construction in Progress NA NA NA NA 0.5 0.1 FIFO FIFO FIFO FIFO FIFO NA 0.5 0.7 0.7 1,2 NA 1.1 0.9 0.8 0.9 0.9 0.9 NA 9.7 13.7 7,3 11.9 31.4 11.9 31.2 NA 20.1 7.7 24.1 0.1 25.3 NA 5.0 Accum. Allowance for Doubtful Accts 0.1 0.1 0.1 0.1 1.2 NA Jul-08-2016 Jul-10-2017 Jul-09-2019 Jul-09-2019 Filing Date Restatement Type Calculation Type Jul-09-2018 Aug-14-2019 RS NC NC NC REP REP REP REP REP REP Cashflow 5.3 5.0 3.8 (0.1) (0.0) 0,0 0.01 3.1 (0.0 (0.1) (0.2) 0.0 (0.4) 8.13 (1.5) 9.6 0.1) 9.6 10.5 (8.6) (6,7) (.3 (8.5) (13) (0.0) (0.0) (0.4) (0.0) (19) 0.3 8.5 Debt Repaid Co8) Total Rebt Bepaid (12.2) Common Dividends Paid Total Dividends Paid (3.6 Special Dividend Paid Cash from Financing (3.5) (8.09 (4.3) (0.7) (0.2) (2.8) (0.4) Net Change in Cash Supplemental Items 0.2 0.3 0.3 Levered Free Cash Flow 0.2 0.4) (0.4 Jul-10-2017 (0.3) 0.6 nlevered Free Cash Flow Net Debt Issued Filing Date ati (0,6) (1.7) Jul-09-2019 2.2 0.1 Aug-14-2019 Jul-09-201 Jul-09-2018 REP LTM un un m aaa
