chunk_id string | chunk string | source_url string | title string | chunk_idx int64 | chunk_start_char int64 | chunk_end_char int64 |
|---|---|---|---|---|---|---|
000000061::0 | The Boeing Company and Subsidiaries
Consolidated Statements of Operations
(Dollars in millions, except per share data)
Years ended December 31, 2022 2021 2020
Sales of products $55,893 $51,386 $47,142
Sales of services 10,715 10,900 11,016
Total revenues 66,608 62,286 58,158
Cost of products ( | 000000061 | 0 | 0 | 294 | |
000000061::1 | 53,969) (49,954) (54,568)
Cost of services (9,109) (9,283) (9,232)
Boeing Capital interest expense (28) (32) (43)
Total costs and expenses (63,106) (59,269) (63,843)
3,502 3,017 (5,685) | 000000061 | 1 | 294 | 479 | |
000000062::0 | We derive a significant portion of our revenues from a limited number of commercial airlines.___FINANCEBENCH_DELIMITER___We derive a substantial portion of our revenue from the U.S. government___FINANCEBENCH_DELIMITER___In 2022, 40% of our revenues were earned pursuant to U.S. government contracts | 000000062 | 0 | 0 | 298 | |
000000063::0 | Historically, the
airline industry has been cyclical and very competitive and has experienced significant profit swings and constant challenges to be more cost
competitive. | 000000063 | 0 | 0 | 172 | |
000000064::0 | We must minimize disruption caused by production changes, achieve operational stability and implement productivity improvements in order to
meet customer demand and maintain our profitability. We have previously announced plans to adjust production rates on several of our
commercial aircraft programs. The 787 program i... | 000000064 | 0 | 0 | 604 | |
000000064::1 | We plan to gradually increase 737 production rates based on market demand and supply
chain capacity. | 000000064 | 1 | 605 | 705 | |
000000065::0 | The Boeing Company and Subsidiaries
Consolidated Statements of Operations
(Dollars in millions, except per share data)
Years ended December 31, 2022 2021 2020
Sales of products $55,893 $51,386 $47,142
Sales of services 10,715 10,900 11,016
Total revenues 66,608 62,286 58,158
Cost of products ( | 000000065 | 0 | 0 | 294 | |
000000065::1 | 53,969) (49,954) (54,568)
Cost of services (9,109) (9,283) (9,232)
Boeing Capital interest expense (28) (32) (43)
Total costs and expenses (63,106) (59,269) (63,843)
3,502 3,017 (5,685)
(Loss)/income from operating investments, net (16) | 000000065 | 1 | 294 | 530 | |
000000065::2 | 210 9
General and administrative expense (4,187) (4,157) (4,817)
Research and development expense, net (2,852) (2,249) (2,476)
Gain on dispositions, net 6 277 202
Loss from operations (3,547) (2,902) (12,767)
Other income, net 1,058 551 447
Interest and debt expense (2 | 000000065 | 2 | 530 | 800 | |
000000065::3 | ,533) (2,682) (2,156)
Loss before income taxes (5,022) (5,033) (14,476)
Income tax (expense)/benefit (31) 743 2,535 | 000000065 | 3 | 800 | 915 | |
000000066::0 | THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
2017
2016
2015
(In millions except per share data)
NET OPERATING REVENUES
$
35,410
$
41,863
$
44,294
Cost of goods sold
13,256
16,465
17,482
GROSS PROFIT
22,154
25 | 000000066 | 0 | 0 | 277 | |
000000066::1 | ,398
26,812
Selling, general and administrative expenses
12,496
15,262
16,427
Other operating charges
2,157
1,510
1,657
OPERATING INCOME
7,501
8,626
8,728
Interest income
677
642
613
Interest expense
841
733
856
Equity income (loss) — net
1,0 | 000000066 | 1 | 277 | 541 | |
000000066::2 | 71
835
489
Other income (loss) — net
(1,666)
(1,234)
631
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
6,742
8,136
9,605
Income taxes from continuing operations
5,560
1,586
2,239
NET INCOME FROM CONTINUING OPERATIONS
1,182
6,550
7,366
Income from discontinued operations ( | 000000066 | 2 | 541 | 841 | |
000000066::3 | net of income taxes of $47, $0 and $0, respectively)
101
—
—
CONSOLIDATED NET INCOME
1,283
6,550
7,366
Less: Net income attributable to noncontrolling interests
35
23
15
NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF
THE COCA-COLA COMPANY
$
1,248
$
6,527
$
7,351
Basic net income per share from con... | 000000066 | 3 | 841 | 1,181 | |
000000066::4 | $
0.28
$
1.51
$
1.69
Basic net income per share from discontinued operations2
0.02
—
—
BASIC NET INCOME PER SHARE
$
0.29
3 $
1.51
$
1.69
Diluted net income per share from continuing operations1
$
0.27
$
1.49
$
1.67
Diluted net income per share from discontinued operations2
0.02
—
—
DIL | 000000066 | 4 | 1,181 | 1,480 | |
000000066::5 | UTED NET INCOME PER SHARE
$
0.29
$
1.49
$
1.67
AVERAGE SHARES OUTSTANDING — BASIC
4,272
4,317
4,352
Effect of dilutive securities
52
50
53
AVERAGE SHARES OUTSTANDING — DILUTED
4,324
4,367
4,405
1 Calculated based on net income from continuing operations less net income from continuing operations attributa... | 000000066 | 5 | 1,480 | 1,832 | |
000000066::6 | 2 Calculated based on net income from discontinued operations less net income from discontinued operations attributable to noncontrolling
interests.
3 Per share amounts do not add due to
rounding.
Refer to Notes to Consolidated Financial Statements. | 000000066 | 6 | 1,833 | 2,082 | |
000000066::7 | 72___FINANCEBENCH_DELIMITER___THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31,
2017
2016
(In millions except par value)
ASSETS
CURRENT ASSETS
Cash and cash equivalents
$
6,006
$
8,555
Short-term investments
9,352
9,595
TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVEST... | 000000066 | 7 | 2,083 | 2,420 | |
000000066::8 | ,150
Marketable securities
5,317
4,051
Trade accounts receivable, less allowances of $477 and $466, respectively
3,667
3,856
Inventories
2,655
2,675
Prepaid expenses and other assets
2,000
2,481
Assets held for sale
219
2,797
Assets held for sale — discontinued operations
7,329
—
TOTAL CURRENT ASSETS
36,5 | 000000066 | 8 | 2,420 | 2,738 | |
000000066::9 | 45
34,010
EQUITY METHOD INVESTMENTS
20,856
16,260
OTHER INVESTMENTS
1,096
989
OTHER ASSETS
4,560
4,248
PROPERTY, PLANT AND EQUIPMENT — net
8,203
10,635
TRADEMARKS WITH INDEFINITE LIVES
6,729
6,097
BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES
138
| 000000066 | 9 | 2,738 | 3,002 | |
000000066::10 | 3,676
GOODWILL
9,401
10,629
OTHER INTANGIBLE ASSETS
368
726
TOTAL ASSETS
$
87,896
$
87,270
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable and accrued expenses
$
8,748
$
9,490
Loans and notes payable
13,205
12,498
Current maturities of long-term debt
3,29 | 000000066 | 10 | 3,002 | 3,287 | |
000000066::11 | 8
3,527
Accrued income taxes
410
307
Liabilities held for sale
37
710
Liabilities held for sale — discontinued operations
1,496
—
TOTAL CURRENT LIABILITIES
27,194
26,532
LONG-TERM DEBT
31,182
29,684
OTHER LIABILITIES
8,021
4,081
DEFERRED INCOME TAXES
2,522
3,75 | 000000066 | 11 | 3,287 | 3,569 | |
000000066::12 | 3
THE COCA-COLA COMPANY SHAREOWNERS' EQUITY
Common stock, $0.25 par value; Authorized — 11,200 shares;
Issued — 7,040 and 7,040 shares, respectively
1,760
1,760
Capital surplus
15,864
14,993
Reinvested earnings
60,430
65,502
Accumulated other comprehensive income (loss)
(10,305)
| 000000066 | 12 | 3,569 | 3,887 | |
000000066::13 | (11,205)
Treasury stock, at cost — 2,781 and 2,752 shares, respectively
(50,677)
(47,988)
EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY
17,072
23,062
EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS
1,905
158
TOTAL EQUITY
18,977
23,220
TOTAL LI | 000000066 | 13 | 3,887 | 4,152 | |
000000066::14 | ABILITIES AND EQUITY
$
87,896
$
87,270
Refer to Notes to Consolidated Financial Statements. | 000000066 | 14 | 4,152 | 4,244 | |
000000066::15 | 74 | 000000066 | 15 | 4,245 | 4,247 | |
000000067::0 | THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In millions except per share data)
Year Ended December 31,
2021
2020
2019
Net Operating Revenues
$
38,655 $
33,014 $
37,266
Cost of goods sold
15,357
13,433
14,619
Gross Profit
23,298
19,581
2 | 000000067 | 0 | 0 | 272 | |
000000067::1 | 2,647
Selling, general and administrative expenses
12,144
9,731
12,103
Other operating charges
846
853
458
Operating Income
10,308
8,997
10,086
Interest income
276
370
563
Interest expense
1,597
1,437
946
Equity income (loss) — net
1,438
978
1, | 000000067 | 1 | 272 | 534 | |
000000067::2 | 049
Other income (loss) — net
2,000
841
34
Income Before Income Taxes
12,425
9,749
10,786
Income taxes
2,621
1,981
1,801
Consolidated Net Income
9,804
7,768
8,985
Less: Net income (loss) attributable to noncontrolling interests
33
21
65
Net Income Attributable to Shareowners of The | 000000067 | 2 | 534 | 832 | |
000000067::3 | Coca-Cola Company
$
9,771 $
7,747 $
8,920
Basic Net Income Per Share
$
2.26 $
1.80 $
2.09
Diluted Net Income Per Share
$
2.25 $
1.79 $
2.07
Average Shares Outstanding — Basic
4,315
4,295
4,276
Effect of dilutive securities
25
28
38
Average Shares Outstanding — Diluted
4,34 | 000000067 | 3 | 832 | 1,115 | |
000000067::4 | 0
4,323
4,314
Calculated based on net income attributable to shareowners of The Coca-Cola Company. | 000000067 | 4 | 1,115 | 1,216 | |
000000067::5 | Refer to Notes to Consolidated Financial Statements.
1
1
1
60 | 000000067 | 5 | 1,217 | 1,279 | |
000000068::0 | THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In millions except per share data)
Year Ended December 31,
2022
2021
2020
Net Operating Revenues
$
43,004 $
38,655 $
33,014
Cost of goods sold
18,000
15,357
13,433
Gross Profit
25,004
23,298
1 | 000000068 | 0 | 0 | 272 | |
000000068::1 | 9,581
Selling, general and administrative expenses
12,880
12,144
9,731
Other operating charges
1,215
846
853
Operating Income
10,909
10,308
8,997
Interest income
449
276
370
Interest expense
882
1,597
1,437
Equity income (loss) — net
1,472
1,43 | 000000068 | 1 | 272 | 533 | |
000000068::2 | 8
978
Other income (loss) — net
(262)
2,000
841
Income Before Income Taxes
11,686
12,425
9,749
Income taxes
2,115
2,621
1,981
Consolidated Net Income
9,571
9,804
7,768
Less: Net income (loss) attributable to noncontrolling interests
29
33
21
Net Income Attributable | 000000068 | 2 | 533 | 814 | |
000000068::3 | to Shareowners of The Coca-Cola Company
$
9,542 $
9,771 $
7,747
Basic Net Income Per Share
$
2.20 $
2.26 $
1.80
Diluted Net Income Per Share
$
2.19 $
2.25 $
1.79
Average Shares Outstanding — Basic
4,328
4,315
4,295
Effect of dilutive securities
22
25
28
Average Shares Outstanding — Diluted | 000000068 | 3 | 814 | 1,114 | |
000000068::4 |
4,350
4,340
4,323
Calculated based on net income attributable to shareowners of The Coca-Cola Company. | 000000068 | 4 | 1,114 | 1,220 | |
000000068::5 | Refer to Notes to Consolidated Financial Statements. | 000000068 | 5 | 1,221 | 1,273 | |
000000068::6 | 1
1
1
61___FINANCEBENCH_DELIMITER___THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Year Ended December 31,
2022
2021
2020
Operating Activities
Consolidated net income
$
9,571 $
9,804 $
7,768
Depreciation and amortization
1,260
1,452
1,536
Stock-based compensation | 000000068 | 6 | 1,274 | 1,590 | |
000000068::7 | expense
356
337
126
Deferred income taxes
(122)
894
(18)
Equity (income) loss — net of dividends
(838)
(615)
(511)
Foreign currency adjustments
203
86
(88)
Significant (gains) losses — net
(129)
(1,365)
(914)
Other operating charges
1,086
506
556
Other items | 000000068 | 7 | 1,590 | 1,858 | |
000000068::8 |
236
201
699
Net change in operating assets and liabilities
(605)
1,325
690
Net Cash Provided by Operating Activities
11,018
12,625
9,844
Investing Activities
Purchases of investments
(3,751)
(6,030)
(13,583)
Proceeds from disposals of investments
4,771
7,059
13,835
Acquisitions | 000000068 | 8 | 1,858 | 2,152 | |
000000068::9 | of businesses, equity method investments and nonmarketable securities
(73)
(4,766)
(1,052)
Proceeds from disposals of businesses, equity method investments and nonmarketable securities
458
2,180
189
Purchases of property, plant and equipment
(1,484)
(1,367)
(1,177)
Proceeds from disposals of property, plant and equ... | 000000068 | 9 | 2,152 | 2,535 | |
000000068::10 | hedging activities — net
(1,465)
—
—
Other investing activities
706
51
122
Net Cash Provided by (Used in) Investing Activities
(763)
(2,765)
(1,477)
Financing Activities
Issuances of debt
3,972
13,094
26,934
Payments of debt
(4,930)
(12,866)
(28,796)
Iss | 000000068 | 10 | 2,535 | 2,802 | |
000000068::11 | uances of stock
837
702
647
Purchases of stock for treasury
(1,418)
(111)
(118)
Dividends
(7,616)
(7,252)
(7,047)
Other financing activities
(1,095)
(353)
310
Net Cash Provided by (Used in) Financing Activities
(10,250)
(6,786)
(8,070 | 000000068 | 11 | 2,802 | 3,040 | |
000000068::12 | )
Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and
Restricted Cash Equivalents
(205)
(159)
76
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash
equivalents during the yea... | 000000068 | 12 | 3,040 | 3,489 | |
000000068::13 | ,737
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Year
9,825
10,025
7,110
Less: Restricted cash and restricted cash equivalents at end of year
306
341
315
Cash and Cash Equivalents at End of Year
$
9,519 $
9,684 $
6,795
Refer to Notes to Consolidated Financial Statements. | 000000068 | 13 | 3,489 | 3,806 | |
000000068::14 | 64 | 000000068 | 14 | 3,807 | 3,809 | |
000000069::0 | Index
Consolidated Statements of Income
Corning Incorporated and Subsidiary Companies
Year ended December 31,
(In millions, except per share amounts)
2020
2019
2018
Net sales
$
11,303
| 000000069 | 0 | 0 | 241 | |
000000069::1 | $
11,503 $
11,290
Cost of sales
7,772
7,468
6,829
Gross margin
3,531
4,035
4,461
Operating expenses:
| 000000069 | 1 | 241 | 416 | |
000000069::2 |
Selling, general and administrative expenses
1,747
1,585
1,799
Research, development and engineering expenses
1,154
1,031
993
Amortization of purchased intangibles
121
113
94
| 000000069 | 2 | 416 | 656 | |
000000069::3 | Operating income
509
1,306
1,575
Equity in (losses) earnings of affiliated companies (Note 3)
(25)
17
390
Interest income
15
21
38
Interest expense
(276)
(2 | 000000069 | 3 | 656 | 875 | |
000000069::4 | 21)
(191)
Translated earnings contract (loss) gain, net (Note 15)
(38)
248
(93)
Transaction-related gain, net (Note 4)
498
Other expense, net
(60)
(155)
(216)
| 000000069 | 4 | 875 | 1,087 | |
000000069::5 |
Income before income taxes
623
1,216
1,503
Provision for income taxes (Note 8)
(111)
(256)
(437)
Net income attributable to Corning Incorporated
$
512
$
960 $
| 000000069 | 5 | 1,087 | 1,301 | |
000000069::6 | 1,066
Earnings per common share attributable to
Corning Incorporated:
Basic (Note 18)
$
0.54
$
1.11 $
1.19
Diluted (Note 18)
$
0.54
$
1.07 $
1.13
| 000000069 | 6 | 1,301 | 1,499 | |
000000069::7 | The accompanying notes are an integral part of these consolidated financial statements. | 000000069 | 7 | 1,499 | 1,586 | |
000000069::8 | 70___FINANCEBENCH_DELIMITER___Index
Consolidated Balance Sheets
Corning Incorporated and Subsidiary Companies
December 31,
(In millions, except share and per share amounts)
2020
2019
Assets
| 000000069 | 8 | 1,589 | 1,848 | |
000000069::9 |
Current assets:
Cash and cash equivalents
$
2,672 $
2,434
Trade accounts receivable, net of doubtful accounts - $46 and $41
2,133
1,836
Inventories, net (Note 6)
2,438
2,320
Other current assets (Note 11 | 000000069 | 9 | 1,848 | 2,082 | |
000000069::10 | and 15)
761
873
Total current assets
8,004
7,463
Property, plant and equipment, net of accumulated depreciation -
$13,663 and $12,995 (Note 9)
15,742
15,337
Goodwill, net (Note 1 | 000000069 | 10 | 2,082 | 2,299 | |
000000069::11 | 0)
2,460
1,935
Other intangible assets, net (Note 10)
1,308
1,185
Deferred income taxes (Note 8)
1,121
1,157
Other assets (Note 11 and 15)
2,140
1,821
Total Assets
$
| 000000069 | 11 | 2,299 | 2,510 | |
000000069::12 | 30,775 $
28,898
Liabilities and Equity
Current liabilities:
Current portion of long-term debt and short-term borrowings (Note 12)
$
156 $
11
Accounts payable
1,174
1,587
Other accrued | 000000069 | 12 | 2,510 | 2,754 | |
000000069::13 | liabilities (Note 11 and 14)
2,437
1,923
Total current liabilities
3,767
3,521
Long-term debt (Note 12)
7,816
7,729
Postretirement benefits other than pensions (Note 13)
727
671
Other | 000000069 | 13 | 2,754 | 2,982 | |
000000069::14 | liabilities (Note 11 and 14)
5,017
3,980
Total liabilities
17,327
15,901
Commitments, contingencies and guarantees (Note 14)
Shareholders’ equity (Note 17):
Convertible preferred stock, Series A – Par value | 000000069 | 14 | 2,982 | 3,237 | |
000000069::15 | $100 per share;
Shares authorized 3,100; Shares issued: 2,300
2,300
2,300
Common stock – Par value $0.50 per share; Shares authorized: 3.8 billion;
Shares issued: 1,726 million and 1,718 million
863
859
Additional paid | 000000069 | 15 | 3,237 | 3,477 | |
000000069::16 | -in capital – common stock
14,642
14,323
Retained earnings
16,120
16,408
Treasury stock, at cost; shares held: 961 million and 956 million
(19,928)
(19,812)
Accumulated other comprehensive loss
(740)
| 000000069 | 16 | 3,477 | 3,706 | |
000000069::17 | (1,171)
Total Corning Incorporated shareholders’ equity
13,257
12,907
Noncontrolling interests
191
90
Total equity
13,448
12,997
Total Liabilities and Equity
$
30,775 $
28,898
The accompany | 000000069 | 17 | 3,706 | 3,938 | |
000000069::18 | ing notes are an integral part of these consolidated financial statements. | 000000069 | 18 | 3,938 | 4,012 | |
000000069::19 | 72 | 000000069 | 19 | 4,013 | 4,015 | |
000000070::0 | Table of Contents
Consolidated Statements of Income
Corning Incorporated and Subsidiary Companies
Year ended December 31,
(In millions, except per share amounts)
2021
2020
2019
Net sales
$
14,082 $
11,303 $
11,503
Cost of sales
| 000000070 | 0 | 0 | 264 | |
000000070::1 |
9,019
7,772
7,468
Gross margin
5,063
3,531
4,035
Operating expenses:
Selling, general and administrative expenses
1,827 | 000000070 | 1 | 264 | 498 | |
000000070::2 |
1,747
1,585
Research, development and engineering expenses
995
1,154
1,031
Amortization of purchased intangibles
129
121
113
Operating income
2,112
509
1,306
| 000000070 | 2 | 498 | 736 | |
000000070::3 |
Equity in earnings (losses) of affiliated companies (Note 3)
35
(25)
17
Interest income
11
15
21
Interest expense
(300)
(276)
(221)
Translated earnings contract gain (loss), net (Note 15)
35 | 000000070 | 3 | 736 | 995 | |
000000070::4 | 4
(38)
248
Transaction-related gain, net (Note 4)
498
Other income (expense), net
185
(60)
(155)
Income before income taxes
2,397
623
1,216
Provision for income | 000000070 | 4 | 995 | 1,239 | |
000000070::5 | taxes (Note 8)
(491)
(111)
(256)
Net income attributable to Corning Incorporated
$
1,906 $
512 $
960
Earnings per common share attributable to Corning Incorporated:
| 000000070 | 5 | 1,239 | 1,488 | |
000000070::6 |
Basic (Note 18)
$
1.30 $
0.54 $
1.11
Diluted (Note 18)
$
1.28 $
0.54 $
1.07
Reconciliation of net income attributable to Corning Incorporated versus net income available to common
shareholders: | 000000070 | 6 | 1,488 | 1,738 | |
000000070::7 |
Net income attributable to Corning Incorporated
$
1,906 $
512 $
960
Series A convertible preferred stock dividend
(24)
(98)
(98)
Excess consideration paid for | 000000070 | 7 | 1,738 | 1,995 | |
000000070::8 | redemption of preferred stock (1)
(803)
Net income available to common shareholders
$
1,079 $
414 $
862
(1)
Refer to Note 17 (Shareholders' Equity) and Note 18 (Earnings per Common Share) to the cons | 000000070 | 8 | 1,995 | 2,250 | |
000000070::9 | olidated financial statements for additional information. | 000000070 | 9 | 2,250 | 2,307 | |
000000070::10 | The accompanying notes are an integral part of these consolidated financial statements.
65 | 000000070 | 10 | 2,310 | 2,402 | |
000000071::0 | RESULTS OF OPERATIONS
The following table presents selected highlights from our operations (in millions):
Year ended December 31, % change
2022 2021 22 vs. | 000000071 | 0 | 0 | 155 | |
000000071::1 | 21
Net sales $ 14,189 $ 14,082 1%
Gross margin $ 4,506 $ 5,063 (11%)
(gross margin %) 32% 36%
Selling, general and administrative expenses $ 1,898 $ 1,827 4%
(as a % of net sales) 13% 13%
Research, development and engineering expenses $ 1,047 $ 995 5%
(as a % of net | 000000071 | 1 | 156 | 422 | |
000000071::2 | sales) 7% 7%
Translated earnings contract gain, net $ 351 $ 354 (1%)
(as a % of net sales) 2% 3%
Income before income taxes $ 1,797 $ 2,426 (26%)
(as a % of net sales) 13% 17%
Provision for income taxes $ (411) $ (491) 16%
Effective tax rate 23% 20%
Net income attributable to Corning Incorporated $ 1,3 | 000000071 | 2 | 422 | 726 | |
000000071::3 | 16 $ 1,906 (31%)
(as a % of net sales) 9% 14%
Comprehensive income attributable to Corning Incorporated $ 661 $ 1,471 (55%) | 000000071 | 3 | 726 | 849 | |
000000072::0 | Consolidated Balance Sheets Corning Incorporated and Subsidiary Companies
December 31,
(in millions, except share and per share amounts) 2022 2021
Assets
Current assets:
Cash and cash equivalents $ 1,671 $ 2,148
Trade accounts receivable, net of doubtful accounts - $40 and $42 1,721 2,004
Inventories (Note 5) 2,904 2,4... | 000000072 | 0 | 0 | 359 | |
000000072::1 | 4) 1,157 1,026
Total current assets 7,453 7,659
Property, plant and equipment, net of accumulated depreciation - $14,147 and $13,969 (Note 8) 15,371 15,804
Goodwill, net (Note 9) 2,394 2,421
Other intangible assets, net (Note 9) 1,029 1,148
Deferred income taxes (Note | 000000072 | 1 | 359 | 627 | |
000000072::2 | 7) 1,073 1,066
Other assets (Notes 10 and 14) 2,179 2,056
Total Assets $ 29,499 $ 30,154
Liabilities and Equity
Current liabilities:
Current portion of long-term debt and short-term borrowings (Note 11) $ 224 $ 55
Accounts payable 1,804 1,612
Other accrued liabilities (Notes 10 and 13) 3,1 | 000000072 | 2 | 627 | 918 | |
000000072::3 | 47 3,139
Total current liabilities 5,175 4,806
Long-term debt (Note 11) 6,687 6,989
Postretirement benefits other than pensions (Note 12) 407 622
Other liabilities (Notes 10 and 13) 4,955 5,192
Total liabilities 17,224 17,609 | 000000072 | 3 | 918 | 1,143 | |
000000073::0 | Table of Contents
COSTCO WHOLESALE CORPORATION
CONSOLIDATED BALANCE SHEETS
(amounts in millions, except par value and share data)
August 29,
2021
August 30,
2020
ASSETS
CURRENT ASSETS
Cash and cash equivalents
$
11,258
$
12,277
Short-term investments
917
1,028
Receivables, net
1,803
1,550
Merchandise inventories
... | 000000073 | 0 | 0 | 323 | |
000000073::1 | 215
12,242
Other current assets
1,312
1,023
Total current assets
29,505
28,120
OTHER ASSETS
Property and equipment, net
23,492
21,807
Operating lease right-of-use assets
2,890
2,788
Other long-term assets
3,381
2,841
TOTAL ASSETS
$
59,268
$
55,556
LI | 000000073 | 1 | 323 | 587 | |
000000073::2 | ABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable
$
16,278
$
14,172
Accrued salaries and benefits
4,090
3,605
Accrued member rewards
1,671
1,393
Deferred membership fees
2,042
1,851
Current portion of long-term debt
799
95
Other current liabilities
4,561
3,728
Total current liabilities
29,441
24 | 000000073 | 2 | 587 | 904 | |
000000073::3 | ,844
OTHER LIABILITIES
Long-term debt, excluding current portion
6,692
7,514
Long-term operating lease liabilities
2,642
2,558
Other long-term liabilities
2,415
1,935
TOTAL LIABILITIES
41,190
36,851
COMMITMENTS AND CONTINGENCIES
EQUITY
Preferred stock $0.01 par value; 100,000,000 shares authorized; no shares i... | 000000073 | 3 | 904 | 1,245 | |
000000073::4 |
—
—
Common stock $0.01 par value; 900,000,000 shares authorized; 441,825,000 and
441,255,000 shares issued and outstanding
4
4
Additional paid-in capital
7,031
6,698
Accumulated other comprehensive loss
(1,137)
(1,297)
Retained earnings
11,666
12,879
Total Costco stockholders’ equity | 000000073 | 4 | 1,245 | 1,538 | |
000000073::5 |
17,564
18,284
Noncontrolling interests
514
421
TOTAL EQUITY
18,078
18,705
TOTAL LIABILITIES AND EQUITY
$
59,268
$
55,556
The accompanying notes are an integral part of these consolidated financial statements. | 000000073 | 5 | 1,538 | 1,755 | |
000000073::6 | 38 | 000000073 | 6 | 1,756 | 1,758 | |
000000074::0 | Consolidated Statements of Operations
For the Years Ended December 31,
In millions, except per share amounts
2018
2017
2016
Revenues:
Products
$
183,910 $
180,063 $
173,377
Premiums
8,184
3,558
3,069
Services
1,825 | 000000074 | 0 | 0 | 240 | |
000000074::1 |
1,144
1,080
Net investment income
660
21
20
Total revenues
194,579
184,786
177,546
Operating costs:
Cost of products sold
156,447
153,448
146,533
Benefit costs
6,594
2,81 | 000000074 | 1 | 240 | 437 | |
000000074::2 | 0
2,179
Goodwill impairments
6,149
181
—
Operating expenses
21,368
18,809
18,448
Total operating costs
190,558
175,248
167,160
Operating income
4,021
9,538
10,386
Interest expense
2,619
1 | 000000074 | 2 | 437 | 644 | |
000000074::3 | ,062
1,078
Loss on early extinguishment of debt
—
—
643
Other expense (income)
(4)
208
28
Income before income tax provision
1,406
8,268
8,637
Income tax provision
2,002
1,637
3,317
Income (loss) from continuing operations
| 000000074 | 3 | 644 | 885 | |
000000074::4 | (596)
6,631
5,320
Loss from discontinued operations, net of tax
—
(8)
(1)
Net income (loss)
(596)
6,623
5,319
Net (income) loss attributable to noncontrolling interests
2
(1)
(2)
Net income (loss) attributable to CVS Health
$
(5 | 000000074 | 4 | 885 | 1,129 | |
000000074::5 | 94) $
6,622 $
5,317
Basic earnings (loss) per share:
Income (loss) from continuing operations attributable to CVS Health
$
(0.57) $
6.48 $
4.93
Loss from discontinued operations attributable to CVS Health
$
— $
(0.01) | 000000074 | 5 | 1,129 | 1,380 | |
000000074::6 | $
—
Net income (loss) attributable to CVS Health
$
(0.57) $
6.47 $
4.93
Weighted average basic shares outstanding
1,044
1,020
1,073
Diluted earnings (loss) per share:
Income (loss) from continuing operations attributable to CVS Health
$
(0.57 | 000000074 | 6 | 1,380 | 1,641 |
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