10-Q Filing

BROWN FORMAN CORP CIK: 14693 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000014693-15-000025`
Period End Date	20150731
Filing Date	20150826
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	bfb-20150731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 32 Cash Flow Statement 44 Comprehensive Income 12

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.00M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$370.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$437.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$494.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$460.00M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $10 and $9 at April 30 and July 31, respectively	`AccountsReceivableNetCurrent`	$583.00M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $10 and $9 at April 30 and July 31, respectively	`AccountsReceivableNetCurrent`	$505.00M	USD	Point-in-time
Barreled whiskey	`OtherInventoryNetOfReserves`	$571.00M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	20.82M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	18.61M	shares	Point-in-time
Barreled whiskey	`OtherInventoryNetOfReserves`	$599.00M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$200.00M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$237.00M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$118.00M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$121.00M	USD	Point-in-time
Raw materials and supplies	`InventoryRawMaterialsAndSuppliesNetOfReserves`	$81.00M	USD	Point-in-time
Raw materials and supplies	`InventoryRawMaterialsAndSuppliesNetOfReserves`	$61.00M	USD	Point-in-time
Total inventories	`InventoryNet`	$1.03B	USD	Point-in-time
Total inventories	`InventoryNet`	$953.00M	USD	Point-in-time
Current deferred tax assets	`DeferredTaxAssetsNetCurrent`	$16.00M	USD	Point-in-time
Current deferred tax assets	`DeferredTaxAssetsNetCurrent`	$9.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$328.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$332.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.37B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.25B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$586.00M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$608.00M	USD	Point-in-time
Goodwill	`Goodwill`	$607.00M	USD	Point-in-time
Goodwill	`Goodwill`	$605.00M	USD	Point-in-time
Other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$605.00M	USD	Point-in-time
Other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$611.00M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$18.00M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$18.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$127.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$112.00M	USD	Point-in-time
Total assets	`Assets`	$4.19B	USD	Point-in-time
Total assets	`Assets`	$4.33B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$438.00M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$497.00M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$65.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$54.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$12.00M	USD	Point-in-time
Current deferred tax liabilities	`DeferredTaxLiabilitiesCurrent`	$13.00M	USD	Point-in-time
Current deferred tax liabilities	`DeferredTaxLiabilitiesCurrent`	$9.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$190.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$13.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$250.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$250.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$833.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$958.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.23B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$743.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$112.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$107.00M	USD	Point-in-time
Accrued pension and other postretirement benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$311.00M	USD	Point-in-time
Accrued pension and other postretirement benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$304.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$164.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$149.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.63B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.28B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$99.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$111.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.30B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.31B	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-304.00M	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-300.00M	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-188.00M	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-195.00M	USD	Point-in-time
Treasury stock, at cost (18,613,000 and 20,823,000 shares at April 30 and July 31, respectively)	`TreasuryStockValue`	$1.23B	USD	Point-in-time
Treasury stock, at cost (18,613,000 and 20,823,000 shares at April 30 and July 31, respectively)	`TreasuryStockValue`	$1.44B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.71B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.91B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.33B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.19B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$921.00M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$900.00M	USD	1 Quarter
Excise taxes	`ExciseAndSalesTaxes`	$216.00M	USD	1 Quarter
Excise taxes	`ExciseAndSalesTaxes`	$201.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$210.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$208.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$495.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$491.00M	USD	1 Quarter
Advertising expenses	`AdvertisingExpense`	$99.00M	USD	1 Quarter
Advertising expenses	`AdvertisingExpense`	$95.00M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$170.00M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$169.00M	USD	1 Quarter
Other expense (income), net	`OtherOperatingIncomeExpenseNet`	$-5.00M	USD	1 Quarter
Other expense (income), net	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$227.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$221.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$9.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$218.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$214.00M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$62.00M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$64.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$156.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$150.00M	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$0.75	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$0.70	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$0.70	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$0.75	USD	1 Quarter
Declared (dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.58	USD	1 Quarter
Declared (dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.63	USD	1 Quarter
Paid (dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.32	USD	1 Quarter
Paid (dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.29	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$156.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$150.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$13.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$13.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$27.00M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$55.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$147.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$112.00M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.00M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.00M	USD	1 Quarter
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-31.00M	USD	1 Quarter
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-39.00M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-176.00M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$5.00M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$490.00M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$5.00M	USD	1 Quarter
Net payments related to exercise of stock-based awards	`NetPaymentsRelatedToExerciseOfStockBasedAwards`	$4.00M	USD	1 Quarter
Net payments related to exercise of stock-based awards	`NetPaymentsRelatedToExerciseOfStockBasedAwards`	$5.00M	USD	1 Quarter
Excess tax benefits from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$12.00M	USD	1 Quarter
Excess tax benefits from stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$16.00M	USD	1 Quarter
Acquisition of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$230.00M	USD	1 Quarter
Acquisition of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$12.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$62.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$65.00M	USD	1 Quarter
Cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-57.00M	USD	1 Quarter
Cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$21.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.00M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$124.00M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$23.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$370.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$437.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$494.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$460.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$370.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$437.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$494.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$460.00M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$156.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$150.00M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-24.00M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-16.00M	USD	1 Quarter
Cash flow hedge adjustments	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$16.00M	USD	1 Quarter
Cash flow hedge adjustments	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$5.00M	USD	1 Quarter
Postretirement benefits adjustments	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-4.00M	USD	1 Quarter
Postretirement benefits adjustments	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-4.00M	USD	1 Quarter
Net other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-7.00M	USD	1 Quarter
Net other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-4.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$152.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$143.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.