| INCOME STATEMENT |
| PARTICULARS | Jul. 28,2019 | Jul. 29,2018 | Jul. 30,2017 |
| REVENUE FROM OPERATION | 1277 | 1366 | 1298 |
| OTHER INCOME | 0 | 0 | 0 |
| TOTAL REVENUE | 1277 | 1366 | 1298 |
| | | | |
| EXPENSES | | | |
| CHANGE IN INVENTORY | -36 | 84 | -46 |
| DEPRECIATION & AMORTIZATION | 446 | 394 | 318 |
| IMPAIRMENT CHARGES | 393 | 748 | 212 |
| RESTRUCTURING CHARGES | 31 | 62 | 18 |
| STOCK BASED COMPENSATION | 58 | 61 | 60 |
| AMORTIZATION OF INVENTORY FAIR VALUE | 0 | 42 | 0 |
| PENSION & POST REIREMENT BENEFITS | 103 | -187 | -258 |
| OTHER | 25 | 34 | 14 |
| TOTAL EXPENSES | 1020 | 1238 | 318 |
| PROFIT BEFORE TAX | 257 | 128 | 980 |
| TAX EXPENSE | | | |
| DEFERRED INCOME TAXES | 14 | -133 | 93 |
| PROFIT FROM CONTINUING OPERATIONS | 243 | 261 | 887 |
| LOSSES ON SALE OF DISCONTINUED BUSINESS OPERATIONS | 32 | 0 | 0 |
| PROFIT FOR THE YEAR BEFORE COMPREHENSIVE INCOME | 211 | 261 | 887 |
How has the firms ability to meet interest payments changed from 2018 to 2019? Compute the times-interest earned & cash coverage ratio.
How has the firms asset management ratios changed from 2018 to 2019? Compute the inventory turnover & days sales in inventory? How would you interpret these ratios? Compute the receivables turnover & days sales outstanding? How would you interpret these ratios? What is the firms total asset turnover and fixed asset turnover? Has the firm shown improvement in this area?
Interest expense $356
Consolidated Statements of Cash Flows - USD ($) $ in Millions Cash flows from operating activities: 12 Months Ended Jul. 28, Jul. 29, Jul. 30, 2019 2018 2017 $ 211 $261 $ 887 393 31 212 748 62 61 42 (258) Net earnings Adjustments to reconcile net earnings to operating cash flow Impairment Charges Restructuring charges Stock-based compensation Amortization of inventory fair value adjustment from acquisition Pension and postretirement benefit expense (income) Depreciation and amortization Deferred income taxes Losses on sales of discontinued operations businesses Other, net Changes in working capital, net of acquisitions and divestitures Accounts receivable Inventories Prepaid assets Accounts payable and accrued liabilities 318 . 56 (11) 36 (1) 125 (84) 27 78 46 (27) (48) (64) 1,398 (54) 1,305 (55) 1,288 Other Net cash provided by operating activities Cash flows from investing activities: Purchases of plant assets Purchases of route businesses Sales of route businesses Business acquired, net of cash acquired (338) (384) (407) (29) 3110 (18) (6,772) 539 14 153 (19) (7,197) (30) (368) Sales of discontinued operations businesses, net of cash divested Other, net Net cash provided by (used) in investing activities Cash flows from financing activities: Short-term borrowings Short-term repayments Long-term borrowings Long-term repayments Dividends paid 5,839 (6,296) 10,222 (9,944) 6,224 (63) (426) 8,247 (8,002) 211 (490) (420) (702) (423) (86) (437) 0 (8) (23) (47) Treasury stock purchases Treasury stock issuances Payments related to tax withholding for stock-based compensation Repurchase of noncontrolling interest Payments of debt issuance costs Other, net Net cash provided by (used in financing activities Effect of exchange rate changes on cash (50) (1,591) 5,807 Net change in cash and cash equivalents Cash and cash equivalents - beginning of period Cash and cash equivalents discontinued operations - beginning of period 148 177 Cash and cash equivalents discontinued operations - end of period $31 $ 49 Cash and cash equivalents - end of period $37 Consolidated Statements of Cash Flows - USD ($) $ in Millions Cash flows from operating activities: 12 Months Ended Jul. 28, Jul. 29, Jul. 30, 2019 2018 2017 $ 211 $261 $ 887 393 31 212 748 62 61 42 (258) Net earnings Adjustments to reconcile net earnings to operating cash flow Impairment Charges Restructuring charges Stock-based compensation Amortization of inventory fair value adjustment from acquisition Pension and postretirement benefit expense (income) Depreciation and amortization Deferred income taxes Losses on sales of discontinued operations businesses Other, net Changes in working capital, net of acquisitions and divestitures Accounts receivable Inventories Prepaid assets Accounts payable and accrued liabilities 318 . 56 (11) 36 (1) 125 (84) 27 78 46 (27) (48) (64) 1,398 (54) 1,305 (55) 1,288 Other Net cash provided by operating activities Cash flows from investing activities: Purchases of plant assets Purchases of route businesses Sales of route businesses Business acquired, net of cash acquired (338) (384) (407) (29) 3110 (18) (6,772) 539 14 153 (19) (7,197) (30) (368) Sales of discontinued operations businesses, net of cash divested Other, net Net cash provided by (used) in investing activities Cash flows from financing activities: Short-term borrowings Short-term repayments Long-term borrowings Long-term repayments Dividends paid 5,839 (6,296) 10,222 (9,944) 6,224 (63) (426) 8,247 (8,002) 211 (490) (420) (702) (423) (86) (437) 0 (8) (23) (47) Treasury stock purchases Treasury stock issuances Payments related to tax withholding for stock-based compensation Repurchase of noncontrolling interest Payments of debt issuance costs Other, net Net cash provided by (used in financing activities Effect of exchange rate changes on cash (50) (1,591) 5,807 Net change in cash and cash equivalents Cash and cash equivalents - beginning of period Cash and cash equivalents discontinued operations - beginning of period 148 177 Cash and cash equivalents discontinued operations - end of period $31 $ 49 Cash and cash equivalents - end of period $37
