Download - Analysis of Financial Statements by Sondhi
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7/29/2019 Analysis of Financial Statements by Sondhi
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1. Ending Cash 94,000
2.
3. Cash Balance 12/31/01 $ 60
4. Net income $ 92
b. Change in cash $ 16
c. Change in cash M
1996 1997 1998 1999 2000
8 1 15 (20) 16
Net Income: M
1996 1997 1998 1999 2000 2001
Sales
Bad debt expense
Net receivables
Cash collections
1
$ ---
---
30
$ ---
$ 140
7
40
$ 123
$150
7
50
$133
$165
8
60
$147
$175
10
75
$150
$195
10
95
$165
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1996 1997 1998 1999 2000
Net Income
42 40 36 37 9
Change in cash G
1996 1997 1998 1999 2000
2 4 3 19 35
Net Income: G
1996 1997 1998 1999 2000
Net Income
23 42 58 72 94
5. A. i
Net change in cash $ 100
Ii Cash from operating $1,530
Net change in cash $ 100
6. B
CHANGEINCASH $ 524 $ 524
9.
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Net change in cash 92
$ 13,379
93
$ (3,064)
94
$ (15,379)
Taxes paid $(12,414)
$(22,989)
$(8,408)
10. c
As
Reported
1987
As
Reported
1988
Reported
Change
1987-88
Less
Kraft
Adjusted
Change
Receivables
Inventory
PPE
Goodwill
ST debt
A/C payable
Accrued
liabilities
LT debt
$ 2,065
4,154
6,582
4,052
1,440
791
2,277
6,293
$ 2,222
5,384
8,648
15,071
1,259
1,777
3,848
17,122
$ 157
1,230
2,066
11,019
(181)
986
1,571
10,829
$ 758
1,232
1,740
10,361
700
578
530
900
$ (601)
(2)
326
658
(881)
408
1,041
9,929
10. b
Increase in cash and equivalents $ 78
Philip Morris Companies, Inc.
Worksheet for Statement of Cash Flows
Indirect Method
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Year Ended December 31, 1988 ($ Millions)
Cash flows from operating activities:
Net income
Adjustments to cash basis:
Depreciation expense
Amortization of goodwill
Decrease in accounts receivable
Decrease in inventory
Decrease in deferred taxes
Increase in accounts payable
Increase in accrued liabilities
Increase in income taxes payable
Net cash flow from operating activities
Cash flows from investing activities:
Increase in PPE (before depreciation)
Increase in goodwill (before amort.)
Decrease in investments
Acquisition of Kraft
Net cash used by investing activities
Cash flows from financing activities:
Decrease in short-term debt
Increase in long-term debt
Decrease in stockholders' equity
(repurchase)
$ 2,337
654
125
601
2
(325)
408
1,041
362
$ (980)
(783)
405
(11,383)
$ (881)
9,929
(540)
$ 5,205
(12,741)
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Dividends declared
Increase in dividends payable
Net cash provided by financing activities
Net increase in cash
Supplementary disclosure of cash flow
information:
Interest paid during year
Income taxes paid during year
Schedule of noncash investing and
financing activities:
(941)
47 7,614
$ 78
670
1,353
$-------
11. a
Cash from operations $ 411.6
12. A
1989 1990 1991
Adjusted cash from operations $ 532 $ 682 $ 518
C
1989 1990 1991
Adjusted cash flow for investing $ (782) $ $
(669)
$ (304)
e.
1989 1990 1991
Equals: free cash flow $ (250) $ 13 $ 214
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13 a.
Cash from operating activities
1998
3,056
1999
7,685
Net change (84) 714
13 A ii
Change in cash and equivalents
1998
65 297
13 d
Repsol Cash from Operations ( Millions)
Years ended 12/31 1998 1999Difference
Operating activities:
Cash from operations
3,0
56
7,
685
4,62
9
14 a
Cash flow from operations $ 700
14 b.
Net income
2000
$ 825
2001
$ 600
14. c
% change
Sales 12.68%
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Cash collections 12.14%
Cash collections/sales
Cost of goods sold 19.05%
Cash inputs 20.73%
Cash inputs/COGS
SG&A 19.40%
Cash expenses 15.71%
Cash expenses/SG&A
15 A
Cash flow from operations $791
15 b
Net income
2000
$ 840
2001
$ 792
15. c
% change
Sales-0.79%
Cash collections 3.12%
Cash collections/sales
Cost of goods sold -1.67%
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Cash inputs -4.52%
Cash inputs/COGS
SG&A* 2.01%
Cash expenses -5.93%
Cash expenses/SG&A
16. A
Cash flow from operations $1,195
16. b
% change
Sales20.0%
Cash collections 20.0%
Cash collections/sales
Cost of goods sold 18.3%
Cash inputs 30.0%
Cash inputs/COGS
SG&A* 35.0%
Cash expenses 36.3%
Cash expenses/SG&A
Interest expense 0.0%
Interest paid 9.1%
Interest paid/Interest expense