10-Q Filing

BROWN FORMAN CORP CIK: 14693 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000014693-18-000165`
Period End Date	20180731
Filing Date	20180829
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	bfb-20180731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 38 Cash Flow Statement 40 Comprehensive Income 12

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.00M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$238.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$239.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$211.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$182.00M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $7 at April 30 and July 31	`AccountsReceivableNetCurrent`	$639.00M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $7 at April 30 and July 31	`AccountsReceivableNetCurrent`	$658.00M	USD	Point-in-time
Barreled whiskey	`OtherInventoryNetOfReserves`	$945.00M	USD	Point-in-time
Barreled whiskey	`OtherInventoryNetOfReserves`	$947.00M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.53M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.37M	shares	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$270.00M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$225.00M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$137.00M	USD	Point-in-time
Work in process	`InventoryWorkInProcessNetOfReserves`	$117.00M	USD	Point-in-time
Raw materials and supplies	`InventoryRawMaterialsAndSuppliesNetOfReserves`	$90.00M	USD	Point-in-time
Raw materials and supplies	`InventoryRawMaterialsAndSuppliesNetOfReserves`	$97.00M	USD	Point-in-time
Total inventories	`InventoryNet`	$1.45B	USD	Point-in-time
Total inventories	`InventoryNet`	$1.38B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$298.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$305.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.62B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.56B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$780.00M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$778.00M	USD	Point-in-time
Goodwill	`Goodwill`	$755.00M	USD	Point-in-time
Goodwill	`Goodwill`	$763.00M	USD	Point-in-time
Other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$658.00M	USD	Point-in-time
Other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$670.00M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$16.00M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$16.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$195.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$192.00M	USD	Point-in-time
Total assets	`Assets`	$4.98B	USD	Point-in-time
Total assets	`Assets`	$5.03B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$564.00M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$581.00M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$76.00M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$52.00M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$25.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$176.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$215.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$868.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$821.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.31B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.34B	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$119.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$85.00M	USD	Point-in-time
Accrued pension and other postretirement benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$191.00M	USD	Point-in-time
Accrued pension and other postretirement benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$192.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$168.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$222.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.66B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.66B	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`	$4.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.77B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.73B	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-378.00M	USD	Point-in-time
Accumulated other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-364.00M	USD	Point-in-time
Treasury stock, at cost (3,531,000 and 3,372,000 shares at April 30 and July 31, respectively)	`TreasuryStockCommonValue`	$112.00M	USD	Point-in-time
Treasury stock, at cost (3,531,000 and 3,372,000 shares at April 30 and July 31, respectively)	`TreasuryStockCommonValue`	$109.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.32B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.37B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.03B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.98B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$987.00M	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$929.00M	USD	1 Quarter
Excise taxes	`ExciseAndSalesTaxes`	$221.00M	USD	1 Quarter
Excise taxes	`ExciseAndSalesTaxes`	$206.00M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$723.00M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$766.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$230.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$243.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$493.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$523.00M	USD	1 Quarter
Advertising expenses	`AdvertisingExpense`	$87.00M	USD	1 Quarter
Advertising expenses	`AdvertisingExpense`	$98.00M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$168.00M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$161.00M	USD	1 Quarter
Other expense (income), net	`OtherOperatingIncomeExpenseNet`	$7.00M	USD	1 Quarter
Other expense (income), net	`OtherOperatingIncomeExpenseNet`	$1.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$264.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$246.00M	USD	1 Quarter
Non-operating postretirement expense	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$2.00M	USD	1 Quarter
Non-operating postretirement expense	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$2.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$22.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$16.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$229.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$242.00M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$51.00M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$42.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$178.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$200.00M	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$0.37	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$0.37	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$0.41	USD	1 Quarter
Declared (dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.32	USD	1 Quarter
Declared (dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.29	USD	1 Quarter
Paid (dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.16	USD	1 Quarter
Paid (dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.15	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$178.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$200.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$15.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$18.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$20.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.00M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$89.00M	USD	1 Quarter
Changes in assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$117.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$105.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$126.00M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.00M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.00M	USD	1 Quarter
Payments for corporate-owned life insurance	`PaymentsToAcquireLifeInsurancePolicies`	$2.00M	USD	1 Quarter
Payments for corporate-owned life insurance	`PaymentsToAcquireLifeInsurancePolicies`	$3.00M	USD	1 Quarter
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00M	USD	1 Quarter
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.00M	USD	1 Quarter
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$45.00M	USD	1 Quarter
Net change in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$-41.00M	USD	1 Quarter
Net payments related to exercise of stock-based awards	`NetPaymentsRelatedToExerciseOfStockBasedAwards`	$5.00M	USD	1 Quarter
Net payments related to exercise of stock-based awards	`NetPaymentsRelatedToExerciseOfStockBasedAwards`	$4.00M	USD	1 Quarter
Acquisition of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.00M	USD	1 Quarter
Acquisition of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$70.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$76.00M	USD	1 Quarter
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-31.00M	USD	1 Quarter
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-122.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-7.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$13.00M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$56.00M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-28.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$238.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$239.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$211.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$182.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$238.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$239.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$211.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$182.00M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$178.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$200.00M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$34.00M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-12.00M	USD	1 Quarter
Cash flow hedge adjustments	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$23.00M	USD	1 Quarter
Cash flow hedge adjustments	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-23.00M	USD	1 Quarter
Postretirement benefits adjustments	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00M	USD	1 Quarter
Postretirement benefits adjustments	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00M	USD	1 Quarter
Net other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$14.00M	USD	1 Quarter
Net other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$14.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$214.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$192.00M	USD	1 Quarter

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