10-Q Filing

BIG HEART PET BRANDS CIK: 1259045 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-466889`
Period End Date	20131031
Filing Date	20131209
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	ck0001259045-20131027.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 56 Cash Flow Statement 52 Comprehensive Income 21

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$581.40M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1,000.00	shares	Point-in-time
Trade accounts receivable, net of allowance	`AccountsReceivableNetCurrent`	$96.90M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.00	shares	Point-in-time
Trade accounts receivable, net of allowance	`AccountsReceivableNetCurrent`	$126.40M	USD	Point-in-time
Inventories, net	`InventoryNet`	$168.80M	USD	Point-in-time
Inventories, net	`InventoryNet`	$209.50M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$70.60M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$89.50M	USD	Point-in-time
Discontinued operations-assets	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$2.09B	USD	Point-in-time
Discontinued operations-assets	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$2.31B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.75B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.00B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$357.20M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$368.20M	USD	Point-in-time
Goodwill	`Goodwill`	$1.98B	USD	Point-in-time
Goodwill	`Goodwill`	$2.11B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.18B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.92B	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$111.00M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$107.10M	USD	Point-in-time
Total assets	`Assets`	$7.36B	USD	Point-in-time
Total assets	`Assets`	$7.52B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$322.80M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$329.50M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$156.20M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$13.20M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$74.50M	USD	Point-in-time
Discontinued operations-liabilities	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$467.50M	USD	Point-in-time
Discontinued operations-liabilities	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$346.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$959.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$750.40M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$3.90B	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$3.89B	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.01B	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$965.60M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$139.30M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$150.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.99B	USD	Point-in-time
Total liabilities	`Liabilities`	$5.77B	USD	Point-in-time
Common stock ($0.01 par value per share, shares authorized: 1,000; 10 issued and outstanding)	`CommonStockValue`	-	USD	Point-in-time
Common stock ($0.01 par value per share, shares authorized: 1,000; 10 issued and outstanding)	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.59B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.59B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.80M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-52.40M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$20.30M	USD	Point-in-time
Total stockholder's equity	`StockholdersEquity`	$1.59B	USD	Point-in-time
Total stockholder's equity	`StockholdersEquity`	$1.53B	USD	Point-in-time
Total liabilities and stockholder's equity	`LiabilitiesAndStockholdersEquity`	$7.52B	USD	Point-in-time
Total liabilities and stockholder's equity	`LiabilitiesAndStockholdersEquity`	$7.36B	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$497.00M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$1.03B	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$552.00M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$955.30M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$355.70M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$328.50M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$639.70M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$657.80M	USD	2 Qtrs
Gross profit	`GrossProfit`	$168.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$315.60M	USD	2 Qtrs
Gross profit	`GrossProfit`	$196.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$375.20M	USD	2 Qtrs
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$111.40M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$230.40M	USD	2 Qtrs
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$124.50M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$237.20M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$85.20M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$57.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$71.80M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$138.00M	USD	2 Qtrs
Interest expense	`InterestExpense`	$118.40M	USD	2 Qtrs
Interest expense	`InterestExpense`	$61.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$126.20M	USD	2 Qtrs
Interest expense	`InterestExpense`	$58.80M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$2.90M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.20M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$27.20M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$9.60M	USD	2 Qtrs
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.20M	USD	1 Quarter
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$29.20M	USD	2 Qtrs
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.80M	USD	2 Qtrs
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.10M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$8.00M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$16.40M	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-6.80M	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-200.00K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-900.00K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$6.20M	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$12.80M	USD	2 Qtrs
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-7.00M	USD	2 Qtrs
Income (loss) from discontinued operations before income taxes	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$49.90M	USD	1 Quarter
Income (loss) from discontinued operations before income taxes	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-162.20M	USD	1 Quarter
Income (loss) from discontinued operations before income taxes	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$69.00M	USD	2 Qtrs
Income (loss) from discontinued operations before income taxes	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-142.70M	USD	2 Qtrs
Provision (benefit) for income taxes	`DiscontinuedOperationTaxEffectOfDiscontinuedOperation`	$26.10M	USD	2 Qtrs
Provision (benefit) for income taxes	`DiscontinuedOperationTaxEffectOfDiscontinuedOperation`	$19.40M	USD	1 Quarter
Provision (benefit) for income taxes	`DiscontinuedOperationTaxEffectOfDiscontinuedOperation`	$-57.10M	USD	2 Qtrs
Provision (benefit) for income taxes	`DiscontinuedOperationTaxEffectOfDiscontinuedOperation`	$-63.30M	USD	1 Quarter
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$42.90M	USD	2 Qtrs
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$30.50M	USD	1 Quarter
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-85.60M	USD	2 Qtrs
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-98.90M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$29.60M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-92.70M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$35.90M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-72.80M	USD	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$29.60M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-92.70M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$35.90M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-72.80M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$80.30M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$74.50M	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-61.10M	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$13.80M	USD	2 Qtrs
Write off of debt issuance cost	`GainsLossesOnExtinguishmentOfDebt`	$-2.90M	USD	2 Qtrs
Write off of debt issuance cost	`GainsLossesOnExtinguishmentOfDebt`	$-1.70M	USD	2 Qtrs
Loss on asset disposals	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.60M	USD	2 Qtrs
Loss on asset disposals	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.10M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$6.50M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$4.80M	USD	2 Qtrs
Unrealized gain on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$22.60M	USD	2 Qtrs
Unrealized gain on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$38.00M	USD	2 Qtrs
Impairment on assets held for sale	`ImpairmentOfLongLivedAssetsToBeDisposedOf`	$193.80M	USD	2 Qtrs
Impairment on assets held for sale	`ImpairmentOfLongLivedAssetsToBeDisposedOf`	$193.80M	USD	1 Quarter
Other items, net	`OtherOperatingActivitiesCashFlowStatement`	$-600.00K	USD	2 Qtrs
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$202.80M	USD	2 Qtrs
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$383.60M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-101.50M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-263.10M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.20M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$47.60M	USD	2 Qtrs
Net proceeds from asset disposals	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	2 Qtrs
Cash used in business acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$335.00M	USD	2 Qtrs
Payment for asset acquisition	`PaymentsToAcquireOtherProductiveAssets`	$12.00M	USD	2 Qtrs
Purchase of equity method investment	`PaymentsToAcquireEquityMethodInvestments`	$14.60M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-54.20M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-397.10M	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$225.30M	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$4.60M	USD	2 Qtrs
Payments on short-term borrowings	`RepaymentsOfShortTermDebt`	$70.10M	USD	2 Qtrs
Payments on short-term borrowings	`RepaymentsOfShortTermDebt`	$3.30M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$74.50M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$91.10M	USD	2 Qtrs
Capital contribution, net	`ProceedsFromContributedCapital`	$100.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-89.80M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$80.80M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.00M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$800.00K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-578.60M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-246.50M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$594.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$156.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$15.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$402.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$594.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$156.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$15.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$402.80M	USD	Point-in-time

Comprehensive Income 21 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$29.60M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-92.70M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$35.90M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-72.80M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$400.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-200.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-300.00K	USD	2 Qtrs
Prior service (cost) credit arising during the period, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax`	$400.00K	USD	2 Qtrs
Prior service (cost) credit arising during the period, net of tax	`OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax`	$200.00K	USD	1 Quarter
Gain (loss) on cash flow hedging instruments, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$1.30M	USD	2 Qtrs
Gain (loss) on cash flow hedging instruments, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$200.00K	USD	1 Quarter
Gain (loss) on cash flow hedging instruments, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-800.00K	USD	2 Qtrs
Gain (loss) on cash flow hedging instruments, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-800.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-400.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-800.00K	USD	2 Qtrs
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$600.00K	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-92.90M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$29.20M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-72.20M	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$35.10M	USD	2 Qtrs

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