Question
Compute each companys (a) current cash debt coverage, (b) cash debt coverage, (c) current ratio, (d) acid-test ratio, (e) accounts receivable turnover, and (f) inventory
Compute each companys (a) current cash debt coverage, (b) cash debt coverage, (c) current ratio, (d) acid-test ratio, (e) accounts receivable turnover, and (f) inventory turnover for 2017. (Round answers to 2 decimal places, e.g. 52.75.)
| 2017 | |
| Net Revenue | $63,525 |
| Cost of sales | 28,785 |
| Gross profit | 34,740 |
| Selling, general and administrative expenses | 24,231 |
| Venezuela impairment charges | |
| Operating Profit | 10,509 |
| Interest expense | (1,151) |
| Interest income and other | 244 |
| Income before income taxes | 9,602 |
| Provision for income taxes (See Note 5) | 4,694 |
| Net income | 4,908 |
| Less: Net income attributable to noncontrolling interests | 51 |
| Net Income Attributable to PepsiCo | $4,857 |
| Net Income Attributable to PepsiCo per Common Share | |
| Basic | $3.40 |
| Diluted | $3.38 |
| Weightedaverage common shares outstanding | |
| Basic | 1,425 |
| Diluted | 1,438 |
| Cash dividends declared per common share | $3.1675 |
| Consolidated Balance Sheet PepsiCo, Inc. and Subsidiaries December 30, 2017 and December 31, 2016 (in millions except per share amounts) | |
| 2017 | |
| ASSETS | |
| Current Assets | |
| Cash and cash equivalents | $10,610 |
| Shortterm investments | 8,900 |
| Accounts and notes receivable, net | 7,024 |
| Inventories | 2,947 |
| Prepaid expenses and other current assets | 1,546 |
| Total Current Assets | 31,027 |
| Property, Plant and Equipment, net | 17,240 |
| Amortizable Intangible Assets, net | 1,268 |
| Goodwill | 14,744 |
| Other nonamortizable intangible assets | 12,570 |
| Nonamortizable Intangible Assets | 27,314 |
| Investments in Noncontrolled Affiliates | 2,042 |
| Other Assets | 913 |
| Total Assets | $79,804 |
| LIABILITIES AND EQUITY | |
| Current Liabilities | |
| Shortterm debt obligations | $5,485 |
| Accounts payable and other current liabilities | 15,017 |
| Total Current Liabilities | 20,502 |
| LongTerm Debt Obligations | 33,796 |
| Other Liabilities | 11,283 |
| Deferred Income Taxes | 3,242 |
| Total Liabilities | 68,823 |
| Commitments and contingencies | |
| Preferred Stock, no par value | 41 |
| Repurchased Preferred Stock | (197) |
| PepsiCo Common Shareholders' Equity | |
| Common stock, par value 1 per share (authorized 3,600 shares, issued, net of repurchased common stock at par value: 1,420 and 1,428 shares, respectively) | 24 |
| Capital in excess of par value | 3,996 |
| Retained earnings | 52,839 |
| Accumulated other comprehensive loss | (13,057) |
| Repurchased common stock, in excess of par value (446 and 438 shares, respectively) | (32,757) |
| Total PepsiCo Common Shareholders' Equity | 11,045 |
| Noncontrolling interests | 92 |
| Total Equity | 10,981 |
| Total Liabilities and Equity | $79,804 |
THE COCA-COLA COMPANY AND SUBSIDIARIES
| Year Ended December 31, | 2017 |
| (In millions except per share data) | |
| NET OPERATING REVENUES | $35,410 |
| Cost of goods sold | 13,256 |
| GROSS PROFIT | 22,154 |
| Selling, general and administrative expenses | 12,496 |
| Other operating charges | 2,157 |
| OPERATING INCOME | 7,501 |
| Interest income | 677 |
| Interest expense | 841 |
| Equity income (loss) net | 1,071 |
| Other income (loss) net | (1,666) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 6,742 |
| Income taxes from continuing operations | 5,560 |
| NET INCOME FROM CONTINUING OPERATIONS | 1,182 |
| Income from discontinued operations (net of income taxes of $47, $0 and $0, respectively) | 101 |
| CONSOLIDATED NET INCOME | 1,283 |
| Less: Net income attributable to noncontrolling interests | 35 |
| NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY | $1,248 |
| Basic net income per share from continuing operations1 | $0.28 |
| Basic net income per share from discontinued operations2 | 0.02 |
| BASIC NET INCOME PER SHARE | $0.293 |
| Diluted net income per share from continuing operations1 | $0.27 |
| Diluted net income per share from discontinued operations2 | 0.02 |
| DILUTED NET INCOME PER SHARE | $0.29 |
| AVERAGE SHARES OUTSTANDING BASIC | 4,272 |
| Effect of dilutive securities | 52 |
| AVERAGE SHARES OUTSTANDING DILUTED | 4,324 |
| Year Ended December 31, | 2017 |
| (In millions) | |
| CONSOLIDATED NET INCOME | $1,283 |
| Other comprehensive income: | |
| Net foreign currency translation adjustment | 861 |
| Net gain (loss) on derivatives | (433) |
| Net unrealized gain (loss) on available-for-sale securities | 188 |
| Net change in pension and other benefit liabilities | 322 |
| TOTAL COMPREHENSIVE INCOME (LOSS) | 2,221 |
| Less: Comprehensive income (loss) attributable to noncontrolling interests | 73 |
| TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY | $2,148 |
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
