Using the 2017 data:

1. How much of the Cash and Cash Equivalents is actually cash?

		$24,696 millions
		An amount less than $24,696 millions. Footnote #2 Accounting Policies typically contains this information within the Cash and Cash Equivalents section
		The company never receives cash because purchases are made with credit cards and through payment systems like PayPal and Apple Pay.
		$45,308 millions because this is what the Statement of Cash Flows tells us

1. How much did the company originally pay for the Land and Buildings it is still depreciating?

		$20,859 millions
		$107,659 millions
		$128,518 millions
		$265,675 millions

1. How much depreciation has been recorded on the property and equipment since it was acquired?

		$421,609 millions
		$44,400,000 millions
		$813,465 millions
		$391,856 millions

1. What is the book value (carrying value) of the property and equipment?

		$256,392 millions
		$552,067 millions
		$265,675 millions
		$687,284 millions

1. What was the current period cost of using property and equipment (including capital leases)?

		$8.8 millions
		$47.3 millions
		$44.4 millions
		There is no cost because all property and equipment are fully depreciated.

1. What depreciation method does the company use for property and equipment?

		ACRS
		Weighted average
		MCRS
		Straight-line

1. Compared to other depreciation methods, what impact does the companys depreciation method have on net income for a newly acquired asset?

		Depreciation is related to assets and has no impact on net income
		Net income is higher in the early years because a lower amount of depreciation expense is reported. In later years net income will be lower.
		Net income is lower in the early years because a lower amount of depreciation expense is reported. In later years net income is unchanged.
		The depreciation method doesnt matter they all have the same impact on net income

1. Compared to other depreciation methods, what impact does the companys depreciation method have on Total Assets (TA) during the useful life of the assets?

		TA would always be lower
		TA would always be higher
		TA would be the same for all methods
		TA would be lower in the early years and higher in the later years

Libbey Inc. Consolidated Balance Sheets December 31, (dollars in thousands, e pt share amounts) 2017 2016 ASSETS Cash and cash equivalents Accounts receivable -net Inventoriesnet Prepaid and other current assets Total current assets Pension assct Purchased intangible assets net Goodwill Deferred income taxes Other assets Property, plant and equipment -net Total assets 24,696 89,997 187,886 12,550 315,129 2,939 14,565 84,412 24,892 9,627 265,675 717,239 85,113 170,009 16,777 332,910 15,225 164,112 40,016 256,392 818,169 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Salaries and wages Accrued liabilities Accrued income taxes Pension liability (current portion) Non-pension post-retirement benefits (current portion) Derivative liability Long-term debt due within one year Total current liabilities Long-term debt Pension liability Non-pension post-retirement benefits Deferred income taxes Other long-term liabilities Total liabilities Contingencies ( note 17) 78,346 27,409 43,223 1,862 2,185 4,185 697 7,485 165,392 376,905 43,555 49,758 1,850 12,885 650,345 S 71,582 27,018 1,384 2,461 4,892 1,928 5,009 156,081 43,934 55,373 1,859 12,972 673,050 Shareholders' equity: Common stock, par value $.01 per share, 50,000,000 shares authorized, 22,018,010 shares issued in 2017 (21,864,541 shares issued in 2016) Capital in excess of par value Retained deficit Accumulated other Total shareholders' equity Total liabilities and shareholders' equity 220 333,011 (161,165) (105,172) 66,894 717,239 329,722 (59,625) (125,197) 145,119 818,169 loss Libbey Inc. Consolidated Statements of Operations Year ended December 31, (dollars in thousands, except per share amounts) 2017 2016 2015 Net sales Freight billed to c Total revenues Cost of sales Gross profit Selling, general and administrative expenses Goodwill impairment Income (loss) from operations Other income (expense) Earnings (loss) before interest and incomet Interest expense Income (loss) before income taxes Provision (benefit) for income taxes Net income (loss) S 781,828 S793,420 822,345 2,885 825,230 648,902 176,328 132,607 2,790 796,210 629,916 166,294 120,984 3,328 785,156 634,185 150,971 124,926 79,700 (53,655) (3,515) (57,170) 20,400 (77,570) 15,798 (93,368) 45,310 3,362 48,672 20,888 27,784 17,711 10,073 43,721 2,880 46,601 18,484 28,117 (38,216) 66,333 axes Net income (loss) per share (4.24) S (4.24) 0.46 3.04 Diluted 0.46 2.99 Weighted average shares: 22,031 21,880 21,817 Diluted 22,031 22,049 22,159 Dividends declared per share 0.47 0.46 0.44 Libbey Inc. Consolidated Statements of Comprehensive Income (Loss) Year ended December 31. (dollars in thousands) 2017 2016 2015 Net income (loss) (93,368 S 10,073 66,333 Other comprehensive income (loss): Pension and other post-retirement benefit adjustments, net of tax Change in fair value of derivative instruments, net of tax Foreign currency translation adjustments, net of tax Other 7,514 866 11,645 20,025 (1,395) 1,345 (4,915) (4,965) 33,201 (1,235) (13,751) 18,215 sive income (loss), net of tax Comprehensive income (loss) (73,343) S 5,108 S 84,548 nc. Consolidated Statements of Shareholders Equitv (dollars in thousands, except share amounts) Common Stock Shares Treasury Stoek Shares Common Stoek Amount Capital in Excess of Par Value Treasury Stock Amount Retained Deficit Accumulated Other Comprehensive Loss Total Balance December 31, 2014 21,843,851 34,985S 218 33,39 (1,060) (114,648) $ (138,447) S 77454 66,333 Net income Other comprehensive income (loss) Income tax effect from share-based 66,333 18,215 compensation arrangements Stock compensation expense Stock issued from treasury Stock withheld for emplovee taxes Dividends Purchase of treasury shares Balance December 31, 2015 2,797 5,873 (8,509) (796) 2,797 5,873 3,378 (796) (9,597) (15,275) 148,382 (336,741) 11,887 9,597) 412,473 21,843,851110,717 (15,275) (4,448) 330,756 (5 (120,232) 10,073 Net income Other comprehensive income (loss) Income tax effect from share-based 10,073 (4,965) (4,965) Stock compensation expense Stock issued Stock withheld for emplovee taxes Dividends Purchase of treasury shares Balance December 31, 2016 (534) 3,724 (3,329) (895) (534) 3,724 1,404 (895) (10,070) (2,000) 20,690 (222,009) 6,448 (1,716) (10,070) 111,292 (2,000) 21,864,541 329,722 (59,625) (125,197) 145,119 Cumulative-effect adjustment for the adoption of ASU 2016-09 Net loss Other comprehensive income (loss) Stock compensation expense Stock issued Stock withheld for employee taxes Dividends Balance December 31, 2017 (93,368) 20,025 3,372 (93,368) 20,025 3,372 153,469 (627) (627) (10,355) (10,355) 22,018,010 220 333,0 S - $ (161,165) $ (105,172) S66,894 Libbey TInc. Consolidated Statements of Cash Flows Year ended December 31, (dollars in thousands) 2017 2016 2015 Operating activities: Net income (loss) Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization Goodwill impaiment Loss on asset sales and disposals Change in accounts receivable (93,368) 10,073 66,333 45,544 48,486 79,700 287 8,660 (6,312) (12,006) (13,443) 5,574 Change in accounts payable Accrued interest and amortization of discounts and finance fees Pension & non-pension post-retirement benefits, net Accrued liabilities& prepaid expenses Income taxes Share-based compensation expense Other operating activities Net cash provided by operating activities (1,086) (2,513) 1,680 2,737 13,121 18,865 6,296 4,766 (595) 83,904 (45,003) (3,346) 69,692 45,308 Investing activities: Additions to property, plant and equipment Proceeds from asset sales and other Net cash used in investing activities (47,628) (34,604) (48,136) (47,628) (34,604) (48,129) Financing activities: Borrowings on ABL credit facility Repayments on ABL credit facility Other r Other borrowings Repayments on Term Loan B Stock options exercised Taxes paid on distribution of equity awards Dividends Treasury shares purchased Other financing activities Net cash used in financing activities 34,086 62,900 (62,900) (3,267) 6,000 (34,086) (6,000) (24,400) 466 (627) (10,355) (24,400) 1,400 (895) (4,400) (796) 9,597) (15,275) (2,000) (35,214) (35,976) 29 Effect of exchange rate fluctuations on cash Increase (decrease) in cash Cash & cash equivalents at beginning of year Cash & cash equivalents at end of year (1,357) 11,967 49,044 (36,315) 60,044 24,696 49,044 Supplemental disclosure of cash flow information: Cash paid during the year for interest, net of capitalized interest Cash paid during the year for income taxes 21,553 16,545 7,559