ADOBE_2016_10K

Table of Contents
62
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)

Years Ended

December 2,
2016
November 27,
2015
November 28,
2014
Revenue:

Subscription
$
4,584,833
$
3,223,904
$
2,076,584
Product
800,498
1,125,146
1,627,803
Services and support
469,099
446,461
442,678
Total revenue
5,854,430
4,795,511
4,147,065

Cost of revenue:
Subscription
461,860
409,194
335,432
Product
68,917
90,035
97,099
Services and support
289,131
245,088
189,549
Total cost of revenue
819,908
744,317
622,080

Gross profit
5,034,522
4,051,194
3,524,985

Operating expenses:
Research and development
975,987
862,730
844,353
Sales and marketing
1,910,197
1,683,242
1,652,308
General and administrative
577,710
531,919
543,332
Restructuring and other charges
(1,508)
1,559
19,883
Amortization of purchased intangibles
78,534
68,649
52,424
Total operating expenses
3,540,920
3,148,099
3,112,300

Operating income
1,493,602
903,095
412,685

Non-operating income (expense):
Interest and other income (expense), net
13,548
33,909
7,267
Interest expense
(70,442)
(64,184)
(59,732)
Investment gains (losses), net
(1,570)
961
1,156
Total non-operating income (expense), net
(58,464)
(29,314)
(51,309)
Income before income taxes
1,435,138
873,781
361,376
Provision for income taxes
266,356
244,230
92,981
Net income
$
1,168,782
$
629,551
$
268,395
Basic net income per share
$
2.35
$
1.26
$
0.54
Shares used to compute basic net income per share
498,345
498,764
497,867
Diluted net income per share
$
2.32
$
1.24
$
0.53
Shares used to compute diluted net income per share
504,299
507,164
508,480
 See accompanying Notes to Consolidated Financial Statements.


3M_2022_10K

3M Company and Subsidiaries
Consolidated Balance Sheet
At December 31
(Dollars in millions, except per share amount)
2022
2021
Assets
Current assets
Cash and cash equivalents
$
3,655 $
4,564
Marketable securities current
238
201
Accounts receivable net of allowances of $174 and $189
4,532
4,660
Inventories
Finished goods
2,497
2,196
Work in process
1,606
1,577
Raw materials and supplies
1,269
1,212
Total inventories
5,372
4,985
Prepaids
435
654
Other current assets
456
339
Total current assets
14,688
15,403
Property, plant and equipment
25,998
27,213
Less: Accumulated depreciation
(16,820)
(17,784)
Property, plant and equipment net
9,178
9,429
Operating lease right of use assets
829
858
Goodwill
12,790
13,486
Intangible assets net
4,699
5,288
Other assets
4,271
2,608
Total assets
$
46,455 $
47,072


WALMART_2018_10K

Walmart Inc.
Consolidated Balance Sheets

As of January 31,
(Amounts in millions)

2018

2017
ASSETS

Current assets:

Cash and cash equivalents
 $
6,756
 $
6,867
Receivables, net

5,614

5,835
Inventories

43,783

43,046
Prepaid expenses and other

3,511

1,941
Total current assets

59,664

57,689
Property and equipment:

Property and equipment

185,154

179,492
Less accumulated depreciation

(77,479)
(71,782)
Property and equipment, net

107,675

107,710
Property under capital lease and financing obligations:

Property under capital lease and financing obligations

12,703

11,637
Less accumulated amortization

(5,560)
(5,169)
Property under capital lease and financing obligations, net

7,143

6,468

Goodwill

18,242

17,037
Other assets and deferred charges

11,798

9,921
Total assets
 $
204,522
 $
198,825

LIABILITIES AND EQUITY

Current liabilities:

Short-term borrowings
 $
5,257
 $
1,099
Accounts payable

46,092

41,433
Accrued liabilities

22,122

20,654
Accrued income taxes

645

921
Long-term debt due within one year

3,738

2,256
Capital lease and financing obligations due within one year

667

565
Total current liabilities

78,521

66,928

Long-term debt

30,045

36,015
Long-term capital lease and financing obligations

6,780

6,003
Deferred income taxes and other

8,354

9,344

Commitments and contingencies

Equity:

Common stock

295

305
Capital in excess of par value

2,648

2,371
Retained earnings

85,107

89,354
Accumulated other comprehensive loss

(10,181)
(14,232)
Total Walmart shareholders' equity

77,869

77,798
Noncontrolling interest

2,953

2,737
Total equity

80,822

80,535
Total liabilities and equity
 $
204,522
 $
198,825
See accompanying notes.
57


ACTIVISIONBLIZZARD_2019_10K

Table of Contents
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in millions)

For the Years Ended December 31,

2019

2018

2017
Cash flows from operating activities:

Net income
$
1,503
 $
1,848
 $
273
Adjustments to reconcile net income to net cash provided by operating activities:

Deferred income taxes
(352)
(35)
(181)
Provision for inventories
6

6

33
Non-cash operating lease cost
64

Depreciation and amortization
328

509

888
Amortization of capitalized software development costs and intellectual property licenses (1)
225

489

311
Loss on extinguishment of debt

40

12
Share-based compensation expense (2)
166

209

176
Unrealized gain on equity investment (Note 10)
(38)

Other
51

7

40
Changes in operating assets and liabilities, net of effect from business acquisitions:

Accounts receivable, net
182

(114)
(165)
Inventories
7

(5)
(26)
Software development and intellectual property licenses
(275)
(372)
(301)
Other assets
164

(51)
(97)
Deferred revenues
(154)
(122)
220
Accounts payable
31

(65)
85
Accrued expenses and other liabilities
(77)
(554)
945
Net cash provided by operating activities
1,831

1,790

2,213
Cash flows from investing activities:

Proceeds from maturities of available-for-sale investments
153

116

80
Purchases of available-for-sale investments
(65)
(209)
(135)
Capital expenditures
(116)
(131)
(155)
Other investing activities
6

(6)
3
Net cash used in investing activities
(22)
(230)
(207)
Cash flows from financing activities:

Proceeds from issuance of common stock to employees
105

99

178
Tax payment related to net share settlements on restricted stock units
(59)
(94)
(56)
Dividends paid
(283)
(259)
(226)
Proceeds from debt issuances, net of discounts

3,741
Repayment of long-term debt

(1,740)
(4,251)
Premium payment for early redemption of note

(25)

Other financing activities

(1)
(10)
Net cash used in financing activities
(237)
(2,020)
(624)
Effect of foreign exchange rate changes on cash and cash equivalents
(3)
(31)
76
Net increase (decrease) in cash and cash equivalents and restricted cash
1,569

(491)
1,458
Cash and cash equivalents and restricted cash at beginning of period
4,229

4,720

3,262
Cash and cash equivalents and restricted cash at end of period
$
5,798
 $
4,229
 $
4,720
(1)
Excludes deferral and amortization of share-based compensation expense.
(2)
Includes the net effects of capitalization, deferral, and amortization of share-based compensation expense.
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-8


AMERICANWATERWORKS_2020_10K

Table of Contents
American Water Works Company, Inc. and Subsidiary Companies
Consolidated Statements of Cash Flows
(In millions)

For the Years Ended December 31,

2020
2019
2018
CASH FLOWS FROM OPERATING ACTIVITIES

Net income
$
709
$
621
$
565
Adjustments to reconcile to net cash flows provided by operating activities:

Depreciation and amortization
604
582
545
Deferred income taxes and amortization of investment tax credits
207
208
195
Provision for losses on accounts receivable
34
28
33
Loss (gain) on asset dispositions and purchases

34
(20)
Impairment charge

57
Pension and non-pension postretirement benefits
(14)
17
23
Other non-cash, net
(20)
(41)
20
Changes in assets and liabilities:

Receivables and unbilled revenues
(97)
(25)
(17)
Pension and non-pension postretirement benefit contributions
(39)
(31)
(22)
Accounts payable and accrued liabilities
(2)
66
25
Other assets and liabilities, net
44
(72)
22
Impact of Freedom Industries settlement activities

(4)
(40)
Net cash provided by operating activities
1,426
1,383
1,386
CASH FLOWS FROM INVESTING ACTIVITIES

Capital expenditures
(1,822)
(1,654)
(1,586)
Acquisitions, net of cash acquired
(135)
(235)
(398)
Proceeds from sale of assets
2
48
35
Removal costs from property, plant and equipment retirements, net
(106)
(104)
(87)
Net cash used in investing activities
(2,061)
(1,945)
(2,036)
CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from long-term debt
1,334
1,530
1,358
Repayments of long-term debt
(342)
(495)
(526)
Proceeds from term loan
500

Net short-term borrowings with maturities less than three months
(5)
(178)
60
Issuance of common stock

183
Proceeds from issuances of employee stock plans and direct stock purchase plan, net of taxes paid of $17, $11
and $8 in 2020, 2019 and 2018, respectively
9
15
16
Advances and contributions in aid of construction, net of refunds of $24, $30 and $22 in 2020, 2019
and 2018, respectively
28
26
21
Debt issuance costs and make-whole premium on early debt redemption
(15)
(15)
(22)
Dividends paid
(389)
(353)
(319)
Anti-dilutive share repurchases

(36)
(45)
Net cash provided by financing activities
1,120
494
726
Net increase (decrease) in cash, cash equivalents and restricted funds
485
(68)
76
Cash, cash equivalents and restricted funds at beginning of period
91
159
83
Cash, cash equivalents and restricted funds at end of period
$
576
$
91
$
159
Cash paid during the year for:

Interest, net of capitalized amount
$
382
$
383
$
332
Income taxes, net of refunds of $2, $4 and $0 in 2020, 2019 and 2018, respectively
$
7
$
12
$
38
Non-cash investing activity:

Capital expenditures acquired on account but unpaid as of year end
$
221
$
235
$
181
The accompanying notes are an integral part of these Consolidated Financial Statements.
84


VERIZON_2021_10K

Estimated Future Benefit Payments
The benefit payments to retirees are expected to be paid as follows:
(dollars in millions)
Year
Pension Benefits
Health Care and Life
2022
$
2,049
$
906
2023
1,648
883
2024
1,097
862
2025
1,066
850
2026
1,034
840
2027 to 2031
5,097
4,139


MGMRESORTS_2023Q2_10Q

Fair value level
June 30, 2023
December 31, 2022
(In thousands)
Cash and cash equivalents:
Money market funds
Level 1
$
2,195
$
12,009
Commercial paper and certificates of deposit
Level 2

5,992
Cash and cash equivalents
2,195
18,001
Short-term investments:
U.S. government securities
Level 1
57,696
56,835
U.S. agency securities
Level 2
29,049
9,530
Commercial paper and certificates of deposit
Level 2
4,561
4,466
Corporate bonds
Level 2
416,420
213,875
Short-term investments
507,726
284,706
Total debt investments
$
509,921
$
302,707


ADOBE_2015_10K

63
ADOBE SYSTEMS INCORPORATED
 CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

Years Ended

November 27,
2015
November 28,
2014
November 29,
2013
Cash flows from operating activities:

Net income..................................................................................................................... $
629,551
$
268,395
$
289,985
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion.................................................................
339,473
313,590
321,227
Stock-based compensation .......................................................................................
335,859
333,701
328,987
Deferred income taxes..............................................................................................
(69,657)
(26,089)
29,704
Gain on the sale of property .....................................................................................
(21,415)

Write down of assets held for sale............................................................................

23,151
Unrealized (gains) losses on investments.................................................................
(9,210)
(74)
5,665
Tax benefit from stock-based compensation............................................................
68,133
53,225
25,290
Excess tax benefits from stock-based compensation................................................
(68,153)
(53,235)
(40,619)
Other non-cash items................................................................................................
1,216
1,889
5,654
Changes in operating assets and liabilities, net of acquired assets and
 assumed liabilities:
Trade receivables, net ............................................................................................
(79,502)
7,928
33,649
Prepaid expenses and other current assets .............................................................
(7,701)
(1,918)
(55,509)
Trade payables .......................................................................................................
22,870
6,211
7,132
Accrued expenses...................................................................................................
(5,944)
37,544
41,828
Accrued restructuring.............................................................................................
(16,620)
8,871
(6,949)
Income taxes payable.............................................................................................
29,801
11,006
(58,875)
Deferred revenue....................................................................................................
320,801
326,438
201,366
Net cash provided by operating activities.........................................................
1,469,502
1,287,482
1,151,686
Cash flows from investing activities:

Purchases of short-term investments .............................................................................
(2,064,833)
(2,014,186)
(2,058,058)
Maturities of short-term investments.............................................................................
371,790
272,076
360,485
Proceeds from sales of short-term investments .............................................................
1,176,476
1,443,577
1,449,961
Acquisitions, net of cash acquired .................................................................................
(826,004)
(29,802)
(704,589)
Purchases of property and equipment............................................................................
(184,936)
(148,332)
(188,358)
Proceeds from sale of property ......................................................................................
57,779

24,260
Purchases of long-term investments, intangibles and other assets ................................
(22,779)
(17,572)
(67,737)
Proceeds from sale of long-term investments................................................................
4,149
3,532
6,233
Net cash used for investing activities ...............................................................
(1,488,358)
(490,707)
(1,177,803)
Cash flows from financing activities:

Purchases of treasury stock............................................................................................
(625,000)
(600,000)
(1,100,000)
Proceeds from issuance of treasury stock......................................................................
164,270
227,841
598,194
Cost of issuance of treasury stock..................................................................................
(186,373)
(173,675)
(97,418)
Excess tax benefits from stock-based compensation.....................................................
68,153
53,235
40,619
Proceeds from debt and capital lease obligations ..........................................................
989,280

25,703
Repayment of debt and capital lease obligations...........................................................
(602,189)
(14,684)
(25,879)
Debt issuance costs ........................................................................................................
(8,828)

(357)
Net cash used for financing activities...............................................................
(200,687)
(507,283)
(559,138)
Effect of foreign currency exchange rates on cash and cash equivalents.........................
(21,297)
(6,648)
(5,241)
Net increase (decrease) in cash and cash equivalents.......................................................
(240,840)
282,844
(590,496)
Cash and cash equivalents at beginning of year...............................................................
1,117,400
834,556
1,425,052
Cash and cash equivalents at end of year ......................................................................... $
876,560
$
1,117,400
$
834,556
Supplemental disclosures:

Cash paid for income taxes, net of refunds.................................................................... $
203,010
$
20,140
$
129,701
Cash paid for interest ..................................................................................................... $
56,014
$
68,886
$
64,843
Non-cash investing activities:
Investment in lease receivable applied to building purchase......................................... $

$
126,800
$

Issuance of common stock and stock awards assumed in business acquisitions........... $
677
$
21
$
1,160
See accompanying Notes to Consolidated Financial Statements.


PFIZER_2021_10K

Year Ended December 31,
(MILLIONS, EXCEPT PER COMMON SHARE DATA)
2021
2020
2019
Revenues
$
81,288
$
41,651
$
40,905
Costs and expenses:

Cost of sales
30,821
8,484
8,054
Selling, informational and administrative expenses
12,703
11,597
12,726
Research and development expenses
13,829
9,393
8,385
Amortization of intangible assets
3,700
3,348
4,429
Restructuring charges and certain acquisition-related costs
802
579
601
(Gain) on completion of Consumer Healthcare JV transaction

(6)
(8,107)
Other (income)/deductionsnet
(4,878)
1,219
3,497
Income from continuing operations before provision/(benefit) for taxes on income
24,311
7,036
11,321
Provision/(benefit) for taxes on income
1,852
370
583
Income from continuing operations
22,459
6,666
10,738
Discontinued operationsnet of tax
(434)
2,529
5,318
Net income before allocation to noncontrolling interests
22,025
9,195
16,056
Less: Net income attributable to noncontrolling interests
45
36
29
Net income attributable to Pfizer Inc. common shareholders
$
21,979
$
9,159
$
16,026


AMD_2015_10K

ITEM 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Advanced Micro Devices, Inc.
Consolidated Statements of Operations

Year Ended

December 26,

2015

December 27,

2014

December 28,

2013

(In millions, except per share amounts)
Net revenue
$
3,991 $
5,506 $
5,299
Cost of sales
2,911
3,667
3,321
Gross margin
1,080
1,839
1,978
Research and development
947
1,072
1,201
Marketing, general and administrative
482
604
674
Amortization of acquired intangible assets
3
14
18
Restructuring and other special charges, net
129
71
30
Goodwill impairment charge

233

Legal settlements, net

(48)
Operating income (loss)
(481)
(155)
103
Interest expense
(160)
(177)
(177)
Other expense, net
(5)
(66)

Loss before income taxes
(646)
(398)
(74)
Provision for income taxes
14
5
9
Net loss
$
(660) $
(403) $
(83)
Net loss per share

Basic
$
(0.84) $
(0.53) $
(0.11)
Diluted
$
(0.84) $
(0.53) $
(0.11)
Shares used in per share calculation

Basic
783
768
754
Diluted
783
768
754
See accompanying notes to consolidated financial statements.

54


CVSHEALTH_2022_10K

In December 2022, the Company agreed to a formal settlement agreement, the financial amounts of which were agreed to in principle in October 2022, with a
leadership group of a number of state Attorneys General and the Plaintiffs Executive Committee (PEC). The agreement would resolve substantially all
opioid claims against Company entities by states and political subdivisions, but not private plaintiffs. The maximum amount payable by the Company under the
settlement would be approximately $4.3 billion in opioid remediation and $625 million in attorneys fees and costs and additional remediation. The amounts
would be payable over 10 years, beginning in 2023.


CVSHEALTH_2018_10K

ConsolidatedBalanceSheets

AtDecember31,
In millions, except per share amounts
2018

2017
Assets:

Cashandcashequivalents
$
4,059 $
1,696
Investments
2,522
111
Accountsreceivable,net
17,631
13,181
Inventories
16,450
15,296
Othercurrentassets
4,581
945
Totalcurrentassets
45,243
31,229
Long-terminvestments
15,732
112
Propertyandequipment,net
11,349
10,292
Goodwill
78,678
38,451
Intangibleassets,net
36,524
13,630
Separateaccountsassets
3,884

Otherassets
5,046
1,417
Totalassets
$
196,456 $
95,131

Liabilities:

Accountspayable
$
8,925 $
8,863
Pharmacyclaimsanddiscountspayable
12,302
10,355
Healthcarecostspayable
5,210
5
Policyholdersfunds
2,939

Accruedexpenses
10,711
6,581
Otherinsuranceliabilities
1,937
23
Short-termdebt
720
1,276
Currentportionoflong-termdebt
1,265
3,545
Totalcurrentliabilities
44,009
30,648
Long-termdebt
71,444
22,181
Deferredincometaxes
7,677
2,996
Separateaccountsliabilities
3,884

Otherlong-terminsuranceliabilities
8,119
334
Otherlong-termliabilities
2,780
1,277
Totalliabilities
137,913
57,436
Commitmentsandcontingencies(Note16)

Shareholdersequity:

CVSHealthshareholdersequity:

Preferredstock,parvalue$0.01:0.1sharesauthorized;noneissuedoroutstanding

Commonstock,parvalue$0.01:3,200sharesauthorized;1,720sharesissuedand1,295sharesoutstandingat
December31,2018and1,712sharesissuedand1,014sharesoutstandingatDecember31,2017andcapital
surplus
45,440
32,096
Treasurystock,atcost:425sharesatDecember31,2018and698sharesatDecember31,2017
(28,228)
(37,796)
Retainedearnings
40,911
43,556
Accumulatedothercomprehensiveincome(loss)
102
(165)
TotalCVSHealthshareholdersequity
58,225
37,691
Noncontrollinginterests
318
4
Totalshareholdersequity
58,543
37,695
Totalliabilitiesandshareholdersequity
$
196,456 $
95,131

Seeaccompanyingnotestoconsolidatedfinancialstatements.
Page40


CVSHEALTH_2022_10K

Dividends
During 2022, 2021 and 2020, the quarterly cash dividend was $0.55, $0.50 and $0.50 per share, respectively.


COCACOLA_2022_10K

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
19,581
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
1,438
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 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
4,350
4,340
4,323
Calculated based on net income attributable to shareowners of The Coca-Cola Company.
Refer to Notes to Consolidated Financial Statements.
1
1
1
61


ADOBE_2015_10K

59
 ADOBE SYSTEMS INCORPORATED
 CONSOLIDATED BALANCE SHEETS
(In thousands, except par value)

November 27,
2015
November 28,
2014
ASSETS
Current assets:

Cash and cash equivalents.................................................................................................................... $
876,560
$
1,117,400
Short-term investments ........................................................................................................................
3,111,524
2,622,091
Trade receivables, net of allowances for doubtful accounts of $7,293 and $7,867, respectively........
672,006
591,800
Deferred income taxes..........................................................................................................................

95,279
Prepaid expenses and other current assets ...........................................................................................
161,802
175,758
Total current assets..........................................................................................................................
4,821,892
4,602,328
Property and equipment, net...................................................................................................................
787,421
785,123
Goodwill .................................................................................................................................................
5,366,881
4,721,962
Purchased and other intangibles, net.......................................................................................................
510,007
469,662
Investment in lease receivable................................................................................................................
80,439
80,439
Other assets.............................................................................................................................................
159,832
126,315
Total assets...................................................................................................................................... $
11,726,472
$
10,785,829
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:

Trade payables...................................................................................................................................... $
93,307
$
68,377
Accrued expenses.................................................................................................................................
678,364
683,866
Debt and capital lease obligations........................................................................................................

603,229
Accrued restructuring...........................................................................................................................
1,520
17,120
Income taxes payable...........................................................................................................................
6,165
23,920
Deferred revenue..................................................................................................................................
1,434,200
1,097,923
Total current liabilities....................................................................................................................
2,213,556
2,494,435
Long-term liabilities:

Debt and capital lease obligations........................................................................................................
1,907,231
911,086
Deferred revenue..................................................................................................................................
51,094
57,401
Accrued restructuring...........................................................................................................................
3,214
5,194
Income taxes payable...........................................................................................................................
256,129
125,746
Deferred income taxes..........................................................................................................................
208,209
342,315
Other liabilities.....................................................................................................................................
85,459
73,747
Total liabilities................................................................................................................................
4,724,892
4,009,924
Commitments and contingencies
Stockholders equity:

Preferred stock, $0.0001 par value; 2,000 shares authorized; none issued..........................................

Common stock, $0.0001 par value; 900,000 shares authorized; 600,834 shares issued;
 497,809 and 497,484 shares outstanding, respectively......................................................................
61
61
Additional paid-in-capital ....................................................................................................................
4,184,883
3,778,495
Retained earnings.................................................................................................................................
7,253,431
6,924,294
Accumulated other comprehensive income (loss) ...............................................................................
(169,080)
(8,094)
Treasury stock, at cost (103,025 and 103,350 shares, respectively), net of reissuances......................
(4,267,715)
(3,918,851)
Total stockholders equity...............................................................................................................
7,001,580
6,775,905
Total liabilities and stockholders equity........................................................................................ $
11,726,472
$
10,785,829
See accompanying Notes to Consolidated Financial Statements.


NETFLIX_2017_10K

Table of Contents
NETFLIX, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)

As of December 31,

2017

2016
Assets

Current assets:

Cash and cash equivalents
 $
2,822,795 $
1,467,576
Short-term investments

266,206
Current content assets, net

4,310,934
3,726,307
Other current assets

536,245
260,202
Total current assets

7,669,974
5,720,291
Non-current content assets, net

10,371,055
7,274,501
Property and equipment, net

319,404
250,395
Other non-current assets

652,309
341,423
Total assets
 $
19,012,742 $
13,586,610
Liabilities and Stockholders Equity

Current liabilities:

Current content liabilities
 $
4,173,041 $
3,632,711
Accounts payable

359,555
312,842
Accrued expenses

315,094
197,632
Deferred revenue

618,622
443,472
Total current liabilities

5,466,312
4,586,657
Non-current content liabilities

3,329,796
2,894,654
Long-term debt

6,499,432
3,364,311
Other non-current liabilities

135,246
61,188
Total liabilities

15,430,786
10,906,810
Commitments and contingencies (Note 5)

Stockholders equity:

Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2017 and 2016; no shares
issued and outstanding at December 31, 2017 and 2016

Common stock, $0.001 par value; 4,990,000,000 shares authorized at December 31, 2017 and December 31,
2016, respectively; 433,392,686 and 430,054,212 issued and outstanding at December 31, 2017 and
December 31, 2016, respectively

1,871,396
1,599,762
Accumulated other comprehensive loss

(20,557)
(48,565)
Retained earnings

1,731,117
1,128,603
Total stockholders equity

3,581,956
2,679,800
Total liabilities and stockholders equity
 $
19,012,742 $
13,586,610
See accompanying notes to consolidated financial statements.
43


BLOCK_2016_10K

SQUARE,INC.
CONSOLIDATEDBALANCESHEETS
(In thousands, except share and per share data)

December31,

2016

2015
Assets

Currentassets:

Cashandcashequivalents
$
452,030 $
461,329
Short-terminvestments
59,901

Restrictedcash
22,131
13,537
Settlementsreceivable
321,102
142,727
Customerfundsheld
43,574
9,446
Loansheldforsale
42,144
604
Merchantcashadvancereceivable,net
4,212
36,473
Othercurrentassets
56,331
41,447
Totalcurrentassets
1,001,425
705,563
Propertyandequipment,net
88,328
87,222
Goodwill
57,173
56,699
Acquiredintangibleassets,net
19,292
26,776
Long-terminvestments
27,366

Restrictedcash
14,584
14,686
Otherassets
3,194
3,826
Totalassets
$
1,211,362 $
894,772
LiabilitiesandStockholdersEquity

Currentliabilities:

Accountspayable
$
12,602 $
18,869
Customerspayable
388,058
215,365
Customerfundsobligation
43,574
9,446
Accruedtransactionlosses
20,064
17,176
Accruedexpenses
39,543
44,401
Othercurrentliabilities
73,623
28,945
Totalcurrentliabilities
577,464
334,202
Debt(Note11)

Otherliabilities
57,745
52,522
Totalliabilities
635,209
386,724
Commitmentsandcontingencies(Note16)

Stockholdersequity:

Preferredstock,$0.0000001parvalue:100,000,000sharesauthorizedatDecember31,2016andDecember31,2015.None
issuedandoutstandingatDecember31,2016andDecember31,2015.

ClassAcommonstock,$0.0000001parvalue:1,000,000,000sharesauthorizedatDecember31,2016andDecember31,2015;
198,746,620and31,717,133issuedandoutstandingatDecember31,2016andDecember31,2015,respectively.

ClassBcommonstock,$0.0000001parvalue:500,000,000sharesauthorizedatDecember31,2016andDecember31,2015;
165,800,756and303,232,312issuedandoutstandingatDecember31,2016andDecember31,2015,respectively.

Additionalpaid-incapital
1,357,381
1,116,882
Accumulatedothercomprehensiveloss
(1,989)
(1,185)
Accumulateddeficit
(779,239)
(607,649)
Totalstockholdersequity
576,153
508,048
Totalliabilitiesandstockholdersequity
$
1,211,362 $
894,772
Seeaccompanyingnotestoconsolidatedfinancialstatements.
68


MICROSOFT_2016_10K

Table of Contents

PART II
Item 8

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
INCOME STATEMENTS

(In millions, except per share amounts)

Year Ended June 30,

2016
2015
2014
Revenue:

Product

$ 61,502
$ 75,956
$ 72,948
Service and other

23,818

17,624

13,885

Total revenue

85,320

93,580

86,833

Cost of revenue:

Product

17,880

21,410

16,681
Service and other

14,900

11,628

10,397

Total cost of revenue

32,780

33,038

27,078

Gross margin

52,540

60,542

59,755
Research and development

11,988

12,046

11,381
Sales and marketing

14,697

15,713

15,811
General and administrative

4,563

4,611

4,677
Impairment, integration, and restructuring

1,110

10,011

127

Operating income

20,182

18,161

27,759
Other income (expense), net

(431)

346

61

Income before income taxes

19,751

18,507

27,820
Provision for income taxes

2,953

6,314

5,746

Net income

$ 16,798
$ 12,193
$ 22,074

Earnings per share:

Basic

$
2.12
$
1.49
$
2.66
Diluted

$
2.10
$
1.48
$
2.63
Weighted average shares outstanding:

Basic

7,925

8,177

8,299
Diluted

8,013

8,254

8,399
Cash dividends declared per common share

$
1.44
$
1.24
$
1.12
See accompanying notes.

52


WALMART_2020_10K

Walmart Inc.
Consolidated Statements of Cash Flows

Fiscal Years Ended January 31,
(Amounts in millions)

2020

2019

2018
Cash flows from operating activities:

Consolidated net income
 $
15,201
 $
7,179 $
10,523
Adjustments to reconcile consolidated net income to net cash provided by operating activities:

Depreciation and amortization

10,987

10,678
10,529
Unrealized (gains) and losses

(1,886)
3,516

(Gains) and losses for disposal of business operations

15

4,850

Asda pension contribution

(1,036)

Deferred income taxes

320

(499)
(304)
Loss on extinguishment of debt

3,136
Other operating activities

1,981

1,734
1,210
Changes in certain assets and liabilities, net of effects of acquisitions:

Receivables, net

154

(368)
(1,074)
Inventories

(300)
(1,311)
(140)
Accounts payable

(274)
1,831
4,086
Accrued liabilities

186

183
928
Accrued income taxes

(93)
(40)
(557)
Net cash provided by operating activities

25,255

27,753
28,337

Cash flows from investing activities:

Payments for property and equipment

(10,705)
(10,344)
(10,051)
Proceeds from the disposal of property and equipment

321

519
378
Proceeds from the disposal of certain operations

833

876
1,046
Payments for business acquisitions, net of cash acquired

(56)
(14,656)
(375)
Other investing activities

479

(431)
(77)
Net cash used in investing activities

(9,128)
(24,036)
(9,079)

Cash flows from financing activities:

Net change in short-term borrowings

(4,656)
(53)
4,148
Proceeds from issuance of long-term debt

5,492

15,872
7,476
Repayments of long-term debt

(1,907)
(3,784)
(13,061)
Premiums paid to extinguish debt

(3,059)
Dividends paid

(6,048)
(6,102)
(6,124)
Purchase of Company stock

(5,717)
(7,410)
(8,296)
Dividends paid to noncontrolling interest

(555)
(431)
(690)
Purchase of noncontrolling interest

(8)
Other financing activities

(908)
(629)
(261)
Net cash used in financing activities

(14,299)
(2,537)
(19,875)

Effect of exchange rates on cash, cash equivalents and restricted cash

(69)
(438)
487

Net increase (decrease) in cash, cash equivalents and restricted cash

1,759

742
(130)
Cash, cash equivalents and restricted cash at beginning of year

7,756

7,014
7,144
Cash, cash equivalents and restricted cash at end of year
 $
9,515
 $
7,756 $
7,014

Supplemental disclosure of cash flow information:

Income taxes paid
 $
3,616
 $
3,982 $
6,179
Interest paid

2,464

2,348
2,450
See accompanying notes.


MGMRESORTS_2022Q4_EARNINGS

dited)

Three months ended

Twelve months ended

December 31,
2022

December 31,
2021

December 31,
2022

December 31,
2021
Net income attributable to MGM Resorts International
$
284,002 $
131,013 $
1,473,093 $
1,254,370
Plus: Net loss attributable to noncontrolling interests

(604,016)
(14,926)
(1,266,362)
(45,981)
Net income (loss)

(320,014)
116,087
206,731
1,208,389
Provision for income taxes

285,937
31,152
697,068
253,415
Income (loss) before income taxes

(34,077)
147,239
903,799
1,461,804
Non-operating (income) expense

Interest expense, net of amounts capitalized

137,132
201,477
594,954
799,593
Other, net

(104,951)
20,131
(59,381)
17,302

32,181
221,608
535,573
816,895
Operating income (loss)

(1,896)
368,847
1,439,372
2,278,699
Preopening and start-up expenses

504
3,452
1,876
5,094
Property transactions, net

(1,060,701)
(68,578)
(1,036,997)
(67,736)
Depreciation and amortization

1,421,637
297,031
3,482,050
1,150,610
Gain on REIT transactions, net

(2,277,747)

Gain on consolidation of CityCenter, net

(1,562,329)
Triple-net operating lease and ground lease rent expense

600,467
262,307
1,950,566
833,158
Gain related to sale of Harmon land - unconsolidated affiliate

(49,755)
Income from unconsolidated affiliates related to real estate
ventures

(2,704)
(41,651)
(61,866)
(166,658)
Adjusted EBITDAR
$
957,307
 $
3,497,254


PFIZER_2021_10K

Note 2. Acquisitions, Divestitures, Equity-Method Investments, Licensing Arrangements and Collaborative Arrangements
A. Acquisitions
Trillium
On November 17, 2021, we acquired all of the issued and outstanding common stock not already owned by Pfizer of Trillium, a clinical stage immuno-oncology company developing
therapies targeting cancer immune evasion pathways and specific cell targeting approaches, for a price of $18.50 per share in cash, for total consideration of $2.0 billion, net of cash
acquired. As a result, Trillium became our wholly owned subsidiary. We previously held a 2% ownership investment in Trillium. Trilliums lead program, TTI-622, is an investigational
fusion protein that is designed to block the inhibitory activity of CD47, a molecule that is overexpressed by a wide variety of tumors.
We accounted for the transaction as an asset acquisition since the lead asset, TTI-622, represented substantially all of the fair value of the gross assets acquired, which exclude cash
acquired. At the acquisition date, we recorded a $2.1 billion charge representing an acquired IPR&D asset with no alternative future use in Research and development expenses, of
which the $2.0 billion net cash consideration is presented as a cash outflow from operating activities. In connection with this acquisition, we recorded $256 million of assets acquired
primarily consisting of cash and investments. Liabilities assumed were approximately $81 million.
Array
On July 30, 2019, we acquired Array, a commercial stage biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule
medicines to treat cancer and other diseases of high unmet need, for $48 per share in cash. The total fair value of the consideration transferred was $11.2 billion ($10.9 billion, net of
cash acquired). In addition, $157 million in payments to Array employees for the fair value of previously unvested stock options was recognized as post-closing compensation expense
and recorded in Restructuring charges and certain acquisition-related costs (see Note 3). We financed the majority of the transaction with debt and the balance with existing cash.


FOOTLOCKER_2022_8K_dated_2022-08-19

On August 19, 2022, Foot Locker, Inc. (the Company), issued a press release announcing that, as part of a planned succession process, Richard
A. Johnson will step down as President and Chief Executive Officer of the Company, effective September 1, 2022. Mary N. Dillon, 61, former Executive
Chair and Chief Executive Officer of Ulta Beauty, Inc., has been appointed President and Chief Executive Officer and a member of the Companys Board
of Directors (the Board) and the Executive Committee of the Board, each effective September 1, 2022. A copy of the press release is furnished as Exhibit
99.1, which is incorporated herein by reference.


PEPSICO_2023_8K_dated-2023-05-30

Item 8.01.
Other Events.

Effective May 26, 2023, PepsiCo, Inc. (PepsiCo) terminated the $3,800,000,000 364 day unsecured revolving credit agreement, dated as of
May 27, 2022, among PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent (the 2022 364 Day Credit
Agreement). There were no outstanding borrowings under the 2022 364 Day Credit Agreement at the time of its termination.

On May 26, 2023, PepsiCo entered into a new $4,200,000,000 364 day unsecured revolving credit agreement (the 2023 364 Day Credit
Agreement) among PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent. The 2023 364 Day Credit Agreement
enables PepsiCo and its borrowing subsidiaries to borrow up to $4,200,000,000 in U.S. Dollars and/or Euros, subject to customary terms and conditions,
and expires on May 24, 2024. PepsiCo may also, upon the agreement of either the then existing lenders or of additional banks not currently party to the
2023 364 Day Credit Agreement, increase the commitments under the 2023 364 Day Credit Agreement to up to $4,950,000,000 in U.S. Dollars and/or
Euros. PepsiCo may request renewal of the 2023 364 Day Credit Agreement for an additional 364 day period or convert any amounts outstanding into a
term loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. Subject to
certain conditions stated in the 2023 364 Day Credit Agreement, PepsiCo and its borrowing subsidiaries may borrow, prepay and reborrow amounts under
the 2023 364 Day Credit Agreement at any time during the term of the 2023 364 Day Credit Agreement. Funds borrowed under the 2023 364 Day Credit
Agreement may be used for general corporate purposes of PepsiCo and its subsidiaries. The 2023 364 Day Credit Agreement contains customary
representations and warranties and events of default. In the ordinary course of their respective businesses, the lenders under the 2023 364 Day Credit
Agreement and their affiliates have engaged, and may in the future engage, in commercial banking and/or investment banking transactions with PepsiCo
and its affiliates.

Effective May 26, 2023, PepsiCo terminated the $3,800,000,000 five year unsecured revolving credit agreement, dated as of May 27, 2022, among
PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent (the 2022 Five Year Credit Agreement). There were no
outstanding borrowings under the 2022 Five Year Credit Agreement at the time of its termination.

On May 26, 2023, PepsiCo entered into a new $4,200,000,000 five year unsecured revolving credit agreement (the 2023 Five Year Credit
Agreement) among PepsiCo, as borrower, the lenders party thereto, and Citibank, N.A., as administrative agent. The 2023 Five Year Credit Agreement
enables PepsiCo and its borrowing subsidiaries to borrow up to $4,200,000,000 in U.S. Dollars and/or Euros, including a $750,000,000 swing line
subfacility for Euro-denominated borrowings permitted to be borrowed on a same day basis, subject to customary terms and conditions, and expires on
May 26, 2028. PepsiCo may also, upon the agreement of either the then existing lenders or of additional banks not currently party to the 2023 Five Year
Credit Agreement, increase the commitments under the 2023 Five Year Credit Agreement to up to $4,950,000,000 in U.S. Dollars and/or Euros. PepsiCo
may, once a year, request renewal of the 2023 Five Year Credit Agreement for an additional one year period. Subject to certain conditions stated in the 2023
Five Year Credit Agreement, PepsiCo and its borrowing subsidiaries may borrow, prepay and reborrow amounts under the 2023 Five Year Credit
Agreement at any time during the term of the 2023 Five Year Credit Agreement. Funds borrowed under the 2023 Five Year Credit Agreement may be used
for general corporate purposes of PepsiCo and its subsidiaries. The 2023 Five Year Credit Agreement contains customary representations and warranties
and events of default. In the ordinary course of their respective businesses, the lenders under the 2023 Five Year Credit Agreement and their affiliates have
engaged, and may in the future engage, in commercial banking and/or investment banking transactions with PepsiCo and its affiliates.


BOEING_2022_10K

We derive a substantial portion of our revenue from the U.S. government


AMCOR_2023Q2_10Q

($ in millions)
Employee Costs
Fixed Asset
Related Costs
Other Costs
Total
Restructuring
Costs
Liability balance at June 30, 2022
$
97
$
3
$
18
$
118
Net charges to earnings
2

2
Cash paid
(16)
(1)
(8)
(25)
Reversal of unused amounts
(2)

(2)
Liability balance at December 31, 2022
$
81
$
2
$
10
$
93


BLOCK_2020_10K

SQUARE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended December 31,
2020
2019
2018
Cash flows from operating activities:
Netincome(loss)
$
213,105
$
375,446
$
(38,453)
Adjustmentstoreconcilenetlosstonetcashprovidedbyoperatingactivities:
Depreciationandamortization
84,212
75,598
60,961
Non-cashinterestandother
76,129
33,478
28,512
Lossonextinguishmentoflong-termdebt
6,651

5,047
Non-cashleaseexpense
70,253
29,696

Share-basedcompensation
397,800
297,863
216,881
Replacementstockawardsissuedinconnectionwithacquisition

899
Gainonsaleofassetgroup

(373,445)

Loss(gain)onrevaluationofequityinvestment
(295,297)
12,326
(20,342)
Transactionandloanlosses
177,670
126,959
88,077
Changeindeferredincometaxes
(8,016)
(1,376)
(646)
Changesinoperatingassetsandliabilities:
Settlementsreceivable
(473,871)
(248,271)
245,795
Customerfunds
(1,151,536)
(204,208)
(131,004)
Purchaseofloansheldforsale
(1,837,137)
(2,266,738)
(1,609,611)
Salesandprincipalpaymentsofloansheldforsale
1,505,406
2,168,682
1,579,834
Customerspayable
1,733,138
523,795
15,597
Settlementspayable
143,528
41,697
(60,651)
Charge-offstoaccruedtransactionlosses
(73,613)
(78,325)
(58,192)
Otherassetsandliabilities
(186,819)
(47,478)
(27,624)
Netcashprovidedbyoperatingactivities
381,603
465,699
295,080
Cash flows from investing activities:
Purchaseofmarketabledebtsecurities
(1,322,362)
(992,583)
(1,000,346)
Proceedsfrommaturitiesofmarketabledebtsecurities
607,134
430,888
197,454
Proceedsfromsaleofmarketabledebtsecurities
585,427
548,619
171,992
Purchaseofmarketabledebtsecuritiesfromcustomerfunds
(642,252)
(311,499)
(148,096)
Proceedsfrommaturitiesofmarketabledebtsecuritiesfromcustomerfunds
382,887
158,055

Proceedsfromsaleofmarketabledebtsecuritiesfromcustomerfunds
51,430
17,493
48,334
Purchaseofpropertyandequipment
(138,402)
(62,498)
(61,203)
Purchaseofotherinvestments
(51,277)
(15,250)

Proceedsfromsaleofequityinvestment

33,016

Purchaseofintangibleassets

(1,584)
Proceedsfromsaleofassetgroup

309,324

Businesscombinations,netofcashacquired
(79,221)
(20,372)
(112,399)
Netcashprovidedby(usedin)investingactivities:
(606,636)
95,193
(905,848)
Cash flows from financing activities:
Proceedsfromissuanceofconvertibleseniornotes,net
2,116,544

855,663
Purchaseofconvertibleseniornotehedges
(338,145)

(172,586)
Proceedsfromissuanceofwarrants
232,095

112,125
Principalpaymentonconversionofseniornotes

(219,384)
ProceedsfromPPPLiquidityFacilityadvances
464,094

Proceedsfromtheexerciseofstockoptionsandpurchasesundertheemployeestockpurchaseplan,net
161,985
118,514
133,850
Paymentsfortaxwithholdingrelatedtovestingofrestrictedstockunits
(314,019)
(212,264)
(189,124)
Otherfinancingactivities
(7,359)
(5,124)
(4,789)
Netcashprovidedby(usedin)financingactivities
2,315,195
(98,874)
515,755
Effectofforeignexchangerateoncashandcashequivalents
12,995
3,841
(7,221)
Netincrease(decrease)incash,cashequivalentsandrestrictedcash
2,103,157
465,859
(102,234)
Cash,cashequivalentsandrestrictedcash,beginningoftheyear
1,098,706
632,847
735,081
Cash,cashequivalentsandrestrictedcash,endoftheyear
$
3,201,863
$
1,098,706
$
632,847
Seeaccompanyingnotestoconsolidatedfinancialstatements.
89


COCACOLA_2021_10K

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
22,647
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
1,049
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 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
4,340
4,323
4,314
Calculated based on net income attributable to shareowners of The Coca-Cola Company.
Refer to Notes to Consolidated Financial Statements.
1
1
1
60


CORNING_2020_10K

Index

Consolidated Statements of Income
Corning Incorporated and Subsidiary Companies

YearendedDecember31,
(Inmillions,exceptpershareamounts)
2020

2019

2018
Netsales
$
 11,303
$
11,503 $
11,290
Costofsales

 7,772

7,468
6,829

Grossmargin

 3,531

4,035
4,461

Operatingexpenses:

Selling,generalandadministrativeexpenses

 1,747

1,585
1,799
Research,developmentandengineeringexpenses

 1,154

1,031
993
Amortizationofpurchasedintangibles

 121

113
94

Operatingincome

 509

1,306
1,575

Equityin(losses)earningsofaffiliatedcompanies(Note3)

 (25)

17
390
Interestincome

 15

21
38
Interestexpense

 (276)

(221)
(191)
Translatedearningscontract(loss)gain,net(Note15)

 (38)

248
(93)
Transaction-relatedgain,net(Note4)

 498

Otherexpense,net

 (60)

(155)
(216)

Incomebeforeincometaxes

 623

1,216
1,503
Provisionforincometaxes(Note8)

 (111)

(256)
(437)

NetincomeattributabletoCorningIncorporated
$
 512
$
960 $
1,066

Earningspercommonshareattributableto
CorningIncorporated:

Basic(Note18)
$
 0.54
$
1.11 $
1.19
Diluted(Note18)
$
 0.54
$
1.07 $
1.13

Theaccompanyingnotesareanintegralpartoftheseconsolidatedfinancialstatements.

70


JPMORGAN_2021Q1_10Q

Segment results managed basis
The following tables summarize the Firms results by segment for the periods indicated.
Three months ended March 31,
Consumer & Community Banking
Corporate & Investment Bank
Commercial Banking
(in millions, except ratios)
2021
2020
Change
2021
2020
Change
2021
2020
Change
Total net revenue
$ 12,517
$ 13,287
 (6) %
$ 14,605
$ 10,003
 46 %
$
2,393
$
2,165
 11 %
Total noninterest expense

7,202

7,269
 (1)

7,104

5,955
 19

969

986
 (2)
Pre-provision profit/(loss)

5,315

6,018
 (12)

7,501

4,048
 85

1,424

1,179
 21
Provision for credit losses

(3,602)

5,772
NM

(331)

1,401
NM

(118)

1,010
NM
Net income/(loss)

6,728

197
NM

5,740

1,985
 189

1,168

139
NM
Return on equity (ROE)

54 %
1 %
 27 %
 9 %
 19 %
 2 %
Three months ended March 31,
Asset & Wealth Management
Corporate
Total
(in millions, except ratios)
2021
2020
Change
2021
2020
Change
2021
2020
Change
Total net revenue
$
4,077
$
3,389
 20 %
$
(473) $
166
NM
$ 33,119
$ 29,010
 14 %
Total noninterest expense

2,574

2,435
 6

876
146
 500

18,725

16,791
 12
Pre-provision profit/(loss)

1,503

954
 58

(1,349)
20
NM

14,394

12,219
 18
Provision for credit losses

(121)

94
NM

16
8
 100

(4,156)

8,285
NM
Net income/(loss)

1,244

669
 86

(580)
(125)
 (364)

14,300

2,865
 399
ROE

35 %
25 %
NM
NM
 23 %
 4 %


AMCOR_2020_10K

Amcor plc and Subsidiaries
Consolidated Balance Sheet
(in millions)
As of June 30,
2020
2019
Assets
Current assets:
Cash and cash equivalents
$
742.6
$
601.6
Trade receivables, net
1,615.9
1,864.3
Inventories, net
1,831.9
1,953.8
Prepaid expenses and other current assets
344.3
374.3
Assets held for sale

416.1
Total current assets
4,534.7
5,210.1
Non-current assets:
Investments in affiliated companies
77.7
98.9
Property, plant and equipment, net
3,614.8
3,975.0
Operating lease assets
525.3

Deferred tax assets
135.4
190.9
Other intangible assets, net
1,994.3
2,306.8
Goodwill
5,339.3
5,156.0
Employee benefit assets
43.4
40.2
Other non-current assets
177.2
187.1
Total non-current assets
11,907.4
11,954.9
Total assets
$
16,442.1
$
17,165.0
Liabilities
Current liabilities:
Current portion of long-term debt
$
11.1
$
5.4
Short-term debt
195.2
788.8
Trade payables
2,170.8
2,303.4
Accrued employee costs
476.5
378.4
Other current liabilities
1,120.0
1,044.9
Liabilities held for sale

20.9
Total current liabilities
3,973.6
4,541.8
Non-current liabilities:
Long-term debt, less current portion
6,028.4
5,309.0
Operating lease liabilities
465.7

Deferred tax liabilities
672.4
1,011.7
Employee benefit obligations
391.7
386.8
Other non-current liabilities
223.2
241.0
Total non-current liabilities
7,781.4
6,948.5
Total liabilities
11,755.0
11,490.3
Commitments and contingencies (See Note 19)
Shareholders' Equity
Amcor plc shareholders equity:
Ordinary shares ($0.01 par value):
Authorized (9,000.0 shares)
Issued (1,568.5 and 1,625.9 shares, respectively)
15.7
16.3
Additional paid-in capital
5,480.0
6,007.5
Retained earnings
246.5
323.7
Accumulated other comprehensive income (loss)
(1,049.3)
(722.4)
Treasury shares (6.7 and 1.4 shares, respectively)
(67.0)
(16.1)
Total Amcor plc shareholders' equity
4,625.9
5,609.0
Non-controlling interest
61.2
65.7
Total shareholders' equity
4,687.1
5,674.7
Total liabilities and shareholders' equity
$
16,442.1
$
17,165.0
See accompanying notes to consolidated financial statements.
50


BESTBUY_2023_10K

Consolidated Statements of Earnings
$ and shares in millions, except per share amounts

Fiscal Years Ended
January 28, 2023

January 29, 2022

January 30, 2021
Revenue
$
 46,298

$
 51,761

$
 47,262
Cost of sales

 36,386

 40,121

 36,689
Gross profit

 9,912

 11,640

 10,573
Selling, general and administrative expenses

 7,970

 8,635

 7,928
Restructuring charges

 147

 (34)

 254
Operating income

 1,795

 3,039

 2,391
Other income (expense):

Investment income and other

 28

 10

 38
Interest expense

 (35)

 (25)

 (52)
Earnings before income tax expense and equity in income of affiliates

 1,788

 3,024

 2,377
Income tax expense

 370

 574

 579
Equity in income of affiliates

 1

 4

 -
Net earnings
$
 1,419

$
 2,454

$
 1,798


3M_2022_10K

Worldwide Sales Change
By Business Segment
Organic sales
Acquisitions
Divestitures
Translation
Total sales change
Safety and Industrial
1.0 %

 %
 %
(4.2) %
(3.2) %
Transportation and Electronics
1.2

(0.5)
(4.6)
(3.9)
Health Care
3.2

(1.4)
(3.8)
(2.0)
Consumer
(0.9)

(0.4)
(2.6)
(3.9)
Total Company
1.2

(0.5)
(3.9)
(3.2)


AMAZON_2017_10K

Table of Contents
AMAZON.COM, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)

Year Ended December 31,

2015

2016

2017
Net product sales
$
79,268 $
94,665 $
118,573
Net service sales
27,738
41,322
59,293
Total net sales
107,006
135,987
177,866
Operating expenses:

Cost of sales
71,651
88,265
111,934
Fulfillment
13,410
17,619
25,249
Marketing
5,254
7,233
10,069
Technology and content
12,540
16,085
22,620
General and administrative
1,747
2,432
3,674
Other operating expense, net
171
167
214
Total operating expenses
104,773
131,801
173,760
Operating income
2,233
4,186
4,106
Interest income
50
100
202
Interest expense
(459)
(484)
(848)
Other income (expense), net
(256)
90
346
Total non-operating income (expense)
(665)
(294)
(300)
Income before income taxes
1,568
3,892
3,806
Provision for income taxes
(950)
(1,425)
(769)
Equity-method investment activity, net of tax
(22)
(96)
(4)
Net income
$
596 $
2,371 $
3,033
Basic earnings per share
$
1.28 $
5.01 $
6.32
Diluted earnings per share
$
1.25 $
4.90 $
6.15
Weighted-average shares used in computation of earnings per share:

Basic
467
474
480
Diluted
477
484
493
See accompanying notes to consolidated financial statements.
38


LOCKHEEDMARTIN_2022_10K

Lockheed Martin Corporation
Consolidated Statements of Earnings
(in millions, except per share data)

Years Ended December 31,
2022
2021
2020
Net sales
Products
$
55,466 $
56,435 $
54,928
Services

10,518
10,609
10,470
Total net sales

65,984
67,044
65,398
Cost of sales
Products

(49,577)
(50,273)
(48,996)
Services

(9,280)
(9,463)
(9,371)
Severance and other charges

(100)
(36)
(27)
Other unallocated, net

1,260
1,789
1,650
Total cost of sales

(57,697)
(57,983)
(56,744)
Gross profit

8,287
9,061
8,654
Other income (expense), net

61
62
(10)
Operating profit

8,348
9,123
8,644
Interest expense

(623)
(569)
(591)
Non-service FAS pension (expense) income

(971)
(1,292)
219
Other non-operating (expense) income, net

(74)
288
(37)
Earnings from continuing operations before income taxes

6,680
7,550
8,235
Income tax expense

(948)
(1,235)
(1,347)
Net earnings from continuing operations

5,732
6,315
6,888
Net loss from discontinued operations

(55)
Net earnings
$
5,732 $
6,315 $
6,833

Earnings (loss) per common share
Basic
Continuing operations
$
21.74 $
22.85 $
24.60
Discontinued operations

(0.20)
Basic earnings per common share
$
21.74 $
22.85 $
24.40
Diluted
Continuing operations
$
21.66 $
22.76 $
24.50
Discontinued operations

(0.20)
Diluted earnings per common share
$
21.66 $
22.76 $
24.30
The accompanying notes are an integral part of these consolidated financial statements.
Table of Contents
63


AMD_2022_10K

Year Ended
December 31,
2022
December 25,
2021
(In millions)
Net revenue:
Data Center
$
6,043
$
3,694
Client
6,201
6,887
Gaming
6,805
5,607
Embedded
4,552
246
Total net revenue
$
23,601
$
16,434
Operating income (loss):
Data Center
$
1,848
$
991
Client
1,190
2,088
Gaming
953
934
Embedded
2,252
44
All Other
(4,979)
(409)
Total operating income (loss)
$
1,264
$
3,648


PEPSICO_2022_10K

Table of Contents
Consolidated Statement of Income
PepsiCo, Inc. and Subsidiaries
Fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020
(in millions except per share amounts)
2022
2021
2020
Net Revenue
$
86,392 $
79,474 $
70,372
Cost of sales
40,576
37,075
31,797
Gross profit
45,816
42,399
38,575
Selling, general and administrative expenses
34,459
31,237
28,453
Gain associated with the Juice Transaction (see Note 13)
(3,321)

Impairment of intangible assets (see Notes 1 and 4)
3,166

42
Operating Profit
11,512
11,162
10,080
Other pension and retiree medical benefits income
132
522
117
Net interest expense and other
(939)
(1,863)
(1,128)
Income before income taxes
10,705
9,821
9,069
Provision for income taxes
1,727
2,142
1,894
Net income
8,978
7,679
7,175
Less: Net income attributable to noncontrolling interests
68
61
55
Net Income Attributable to PepsiCo
$
8,910 $
7,618 $
7,120
Net Income Attributable to PepsiCo per Common Share
Basic
$
6.45 $
5.51 $
5.14
Diluted
$
6.42 $
5.49 $
5.12
Weighted-average common shares outstanding
Basic
1,380
1,382
1,385
Diluted
1,387
1,389
1,392
See accompanying notes to the consolidated financial statements.
60


BESTBUY_2024Q2_10Q

July 29, 2023

July 30, 2022

July 29, 2023

July 30, 2022
Operating income
$
 348
 $
 371
 $
 659
 $
 833
% of revenue

 3.6 %
 3.6 %
 3.5 %
 4.0 %
Intangible asset amortization(1)

 21

 22

 41

 44
Restructuring charges(2)

 (7)

 34

 (16)

 35
Non-GAAP operating income
$
 362
 $
 427
 $
 684
 $
 912
% of revenue

 3.8 %
 4.1 %
 3.6 %
 4.3 %

Effective tax rate

 26.1 %
 15.6 %
 24.8 %
 20.5 %
Intangible asset amortization(1)

 (0.4)%
 0.4 %
 0.4 %
 0.2 %
Restructuring charges(2)

 0.4 %
 0.7 %
 (0.1)%
 0.1 %
Loss on investments

 0.5 %
 -%
 -%
 -%
Non-GAAP effective tax rate

 26.6 %
 16.7 %
 25.1 %
 20.8 %

Diluted EPS
$
 1.25
 $
 1.35
 $
 2.36
 $
 2.85
Intangible asset amortization(1)

 0.10

 0.10

 0.18

 0.19
Restructuring charges(2)

 (0.03)

 0.15

 (0.07)

 0.15
Loss on investments

 -

 -

 0.02

 -
Gain on sale of subsidiary, net(3)

 (0.10)

 -

 (0.10)

 -
Income tax impact of non-GAAP adjustments(4)

 -

 (0.06)

 (0.02)

 (0.08)
Non-GAAP diluted EPS
$
 1.22
 $
 1.54
 $
 2.37
 $
 3.11
For additional information regarding the nature of charges discussed below, refer to Note 1, Basis of Presentation, Note 2, Restructuring, and Note 3, Goodwill and Intangible Assets, of the Notes to
Condensed Consolidated Financial Statements, included in this Quarterly Report on Form 10-Q.
(1)
Represents the non-cash amortization of definite-lived intangible assets associated with acquisitions, including customer relationships, tradenames and developed technology assets.
(2)
Represents charges related to employee termination benefits and subsequent adjustments from higher-than-expected employee retention related to previously planned organizational changes.
(3)
Represents the gain on sale of a Mexico subsidiary subsequent to our exit from operations in Mexico.
(4)
The non-GAAP adjustments primarily relate to the U.S. and Mexico. As such, the forecasted annual income tax charge on the U.S. non-GAAP adjustments is calculated using the statutory tax rate of
24.5%. There is no forecasted annual income tax benefit for Mexico non-GAAP items, as there is no forecasted annual tax expense on the income in the calculation of GAAP income tax expense.

Our non-GAAP operating income rates decreased in the second quarter and first six months of fiscal 2024, primarily due to unfavorable SG&A rates, partially
offset by favorable gross profit rates.

Our non-GAAP effective tax rate increased in the second quarter of fiscal 2024, primarily due to the prior year resolution of certain discrete tax matters. Our non-
GAAP effective tax rate increased in the first six months of fiscal 2024, primarily due to the prior year resolution of certain discrete tax matters and decreased tax
benefits from stock-based compensation, partially offset by the impact of lower pre-tax earnings.

Our non-GAAP diluted EPS decreased in the second quarter and first six months of fiscal 2024, primarily due to the decreases in non-GAAP operating income.

Liquidity and Capital Resources

We closely manage our liquidity and capital resources. Our liquidity requirements depend on key variables, including the level of investment required to support
our business strategies, the performance of our business, capital expenditures, dividends, credit facilities, short-term borrowing arrangements and working capital
management. We modify our approach to managing these variables as changes in our operating environment arise. For example, capital expenditures and share
repurchases are a component of our cash flow and capital management strategy, which, to a large extent, we can adjust in response to economic and other
changes in our business environment. We have a disciplined approach to capital allocation, which focuses on investing in key priorities that support our strategy.

Cash and cash equivalents were as follows ($ in millions):

July 29, 2023

January 28, 2023

July 30, 2022
Cash and cash equivalents

 $
 1,093 $
 1,874 $
 840


BESTBUY_2024Q2_10Q

Computing and Mobile Phones: The 6.4% comparable sales decline was driven primarily by computing, mobile phones and tablets.

Consumer Electronics: The 5.7% comparable sales decline was driven primarily by home theater, partially offset by comparable sales growth in
headphones and portable speakers.

Appliances: The 16.1% comparable sales decline was driven primarily by large appliances.

Entertainment: The 9.0% comparable sales growth was driven primarily by gaming, partially offset by comparable sales declines in virtual reality and
drones.

Services: The 7.6% comparable sales growth was driven primarily by the cumulative growth in our paid membership base


ACTIVISIONBLIZZARD_2019_10K

Table of Contents
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in millions, except share data)

At December 31, 2019

At December 31, 2018
Assets

Current assets:

Cash and cash equivalents
$
5,794
 $
4,225
Accounts receivable, net of allowances of $132 and $190, at December 31, 2019 and December 31, 2018, respectively
848

1,035
Inventories, net
32

43
Software development
322

264
Other current assets
296

539
Total current assets
7,292

6,106
Software development
54

65
Property and equipment, net
253

282
Deferred income taxes, net
1,293

458
Other assets
658

482
Intangible assets, net
531

735
Goodwill
9,764

9,762
Total assets
$
19,845
 $
17,890

Liabilities and Shareholders Equity

Current liabilities:

Accounts payable
$
292
 $
253
Deferred revenues
1,375

1,493
Accrued expenses and other liabilities
1,248

896
Total current liabilities
2,915

2,642
Long-term debt, net
2,675

2,671
Deferred income taxes, net
505

18
Other liabilities
945

1,167
Total liabilities
7,040

6,498
Commitments and contingencies (Note 23)

Shareholders equity:

Common stock, $0.000001 par value, 2,400,000,000 shares authorized, 1,197,436,644 and 1,192,093,991 shares issued at
December 31, 2019 and December 31, 2018, respectively

Additional paid-in capital
11,174

10,963
Less: Treasury stock, at cost, 428,676,471 shares at December 31, 2019 and December 31, 2018
(5,563)
(5,563)
Retained earnings
7,813

6,593
Accumulated other comprehensive loss
(619)
(601)
Total shareholders equity
12,805

11,392
Total liabilities and shareholders equity
$
19,845
 $
17,890
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-4


JOHNSON_JOHNSON_2023_8K_dated-2023-08-30

Exhibit 99.1
Johnson & Johnson Announces Updated Financials and 2023 Guidance Following Completion of the Kenvue
Separation

Company expects increased 2023 Reported Sales Growth of 7.0% - 8.0%, Operational Sales Growth of 7.5% - 8.5%, and
Adjusted Operational Sales Growth of 6.2% - 7.2%; Figures exclude the COVID-19 Vaccine

Company expects 2023 Adjusted Reported Earnings Per Share (EPS) of $10.00 - $10.10, reflecting increased growth of
12.5% at the mid-point and Adjusted Operational EPS of $9.90 - $10.00, reflecting increased growth of 11.5% at the mid-
point

Company reduced outstanding share count by approximately 191 million; 2023 guidance reflects only a partial-year benefit
of approximately 73.5 million shares or $0.28 benefit to EPS

Company secured $13.2 billion in cash proceeds from the Kenvue debt offering and initial public offering and maintains 9.5%
of equity stake in Kenvue

Company maintains its quarterly dividend of $1.19 per share
New Brunswick, N.J. (August 30, 2023) Johnson & Johnson (NYSE: JNJ) (the Company) today announced updates to its financials and
2023 guidance which reflect its operations as a company focused on transformational innovation in Pharmaceutical and MedTech. The
Company has published a recorded webinar for investors to provide additional context behind the updated financials and 2023 guidance
found in this release, which may be accessed by visiting the Investors section of the Company's website at webcasts & presentations.
The completion of this transaction uniquely positions Johnson & Johnson as a Pharmaceutical and MedTech company focused on delivering
transformative healthcare solutions to patients, said Joaquin Duato, Chairman of the Board and Chief Executive Officer. We are incredibly
proud of the focus and dedication of our employees worldwide to achieve this milestone, which we are confident will unlock near- and long-
term value for all of our stakeholders.
As previously announced, the Company recently completed an exchange offer to finalize the separation of Kenvue Inc., formerly Johnson &
Johnsons Consumer Health business. As a result of the completion of the exchange offer, Johnson & Johnson will now present its
Consumer Health business financial results as discontinued operations, including a gain of approximately $20 billion in the third quarter of
2023.


LOCKHEEDMARTIN_2020_10K

Table of Contents
Lockheed Martin Corporation
Consolidated Statements of Earnings
(in millions, except per share data)

Years Ended December 31,
2020
2019
2018
Net sales
Products
$
54,928
$
50,053
$
45,005
Services
10,470
9,759
8,757
Total net sales
65,398
59,812
53,762
Cost of sales
Products
(48,996)
(44,589)
(40,293)
Services
(9,371)
(8,731)
(7,738)
Severance charges
(27)

(96)
Other unallocated, net
1,650
1,875
1,639
Total cost of sales
(56,744)
(51,445)
(46,488)
Gross profit
8,654
8,367
7,274
Other (expense) income, net
(10)
178
60
Operating profit
8,644
8,545
7,334
Interest expense
(591)
(653)
(668)
Other non-operating income (expense), net
182
(651)
(828)
Earnings from continuing operations before income taxes
8,235
7,241
5,838
Income tax expense
(1,347)
(1,011)
(792)
Net earnings from continuing operations
6,888
6,230
5,046
Net loss from discontinued operations
(55)

Net earnings
$
6,833
$
6,230
$
5,046

Earnings (loss) per common share
Basic
Continuing operations
$
24.60
$
22.09
$
17.74
Discontinued operations
(0.20)

Basic earnings per common share
$
24.40
$
22.09
$
17.74
Diluted
Continuing operations
$
24.50
$
21.95
$
17.59
Discontinued operations
(0.20)

Diluted earnings per common share
$
24.30
$
21.95
$
17.59
The accompanying notes are an integral part of these consolidated financial statements.
67


MGMRESORTS_2020_10K

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

Year Ended December 31,

2020

2019

2018

Cash flows from operating activities

Netincome(loss)

$
(1,319,907)
$
2,214,380
$
583,894
Adjustmentstoreconcilenetincome(loss)tonetcashprovidedby(usedin)
operatingactivities:

Depreciationandamortization

1,210,556

1,304,649

1,178,044
Amortizationofdebtdiscounts,premiumsandissuancecosts

34,363

38,972

41,102
Lossonearlyretirementofdebt

126,462

198,151

3,619
Provisionforcreditlosses

71,422

39,270

39,762
Stock-basedcompensation

106,956

88,838

70,177
Propertytransactions,net

93,567

275,802

9,147
GainonREITtransactions,net

(1,491,945)

(2,677,996)

Noncashleaseexpense

183,399

71,784

Loss(income)fromunconsolidatedaffiliates

60,366

(57,225)

(96,542)
Distributionsfromunconsolidatedaffiliates

86,584

299

11,563
Deferredincometaxes

18,347

595,046

46,720
Changeinoperatingassetsandliabilities:

Accountsreceivable

960,099

(726,610)

(149,554)
Inventories

14,705

6,522

(7,860)
Incometaxesreceivableandpayable,net

(216,250)

1,259

14,120
Prepaidexpensesandother

(37)

7,567

(8,656)
Accountspayableandaccruedliabilities

(1,382,980)

465,602

21,508
Other

(48,750)

(35,909)

(34,505)
Netcashprovidedby(usedin)operatingactivities

(1,493,043)

1,810,401

1,722,539
Cash flows from investing activities

Capitalexpenditures,netofconstructionpayable

(270,579)

(739,006)

(1,486,843)
Dispositionsofpropertyandequipment

6,136

2,578

25,612
ProceedsfromMandalayBayandMGMGrandLasVegastransaction

2,455,839

ProceedsfromBellagiotransaction

4,151,499

ProceedsfromsaleofCircusCircusLasVegasandadjacentland

652,333

Proceedsfromsaleofbusinessunitsandinvestmentinunconsolidatedaffiliate

163,616
AcquisitionofNorthfield,netofcashacquired

(1,034,534)
AcquisitionofEmpireCityCasino,netofcashacquired

(535,681)

Investmentsinunconsolidatedaffiliates

(96,925)

(81,877)

(56,295)
Distributionsfromunconsolidatedaffiliates

63,960

100,700

322,631
Other

873

(31,112)

(17,208)
Netcashprovidedby(usedin)investingactivities

2,159,304

3,519,434

(2,083,021)
Cash flows from financing activities

Netborrowings(repayments)underbankcreditfacilitiesmaturitiesof
90daysorless

(1,595,089)

(3,634,049)

1,242,259
Issuanceoflong-termdebt

3,550,000

3,250,000

1,000,000
Retirementofseniornotes

(846,815)

(3,764,167)

(2,265)
Debtissuancecosts

(62,348)

(63,391)

(76,519)
Proceedsfromissuanceofbridgeloanfacility

1,304,625

IssuanceofMGMGrowthPropertiesClassAshares,net

524,704

1,250,006

Dividendspaidtocommonshareholders

(77,606)

(271,288)

(260,592)
Distributionstononcontrollinginterestowners

(286,385)

(223,303)

(184,932)
Purchasesofcommonstock

(353,720)

(1,031,534)

(1,283,333)
Other

(53,939)

(41,868)

(45,384)
Netcashprovidedby(usedin)financingactivities

2,103,427

(4,529,594)

389,234
Effect of exchange rate on cash

2,345

2,601

(1,985)
Cash and cash equivalents

Netincreasefortheperiod

2,772,033

802,842

26,767
Balance,beginningofperiod

2,329,604

1,526,762

1,499,995
Balance,endofperiod

$
5,101,637
$
2,329,604
$
1,526,762
Supplemental cash flow disclosures

Interestpaid,netofamountscapitalized

$
639,718
$
826,970
$
723,609
Federal,stateandforeignincometaxespaid(refundsreceived),net

8,543

28,493

(10,100)
Non-cash investing and financing activities

NotereceivablerelatedtosaleofCircusCircusLasVegasandadjacentland

$

$
133,689
$

InvestmentinBellagioBREITVenture

62,133

InvestmentinMGPBREITVenture

802,000

MGPBREITVentureassumptionofbridgeloanfacility

1,304,625

The accompanying notes are an integral part of these consolidated financial statements.
65


BOEING_2018_10K

Table of Contents
The Boeing Company and Subsidiaries
Consolidated Statements of Financial Position
(Dollarsinmillions,exceptpersharedata)

December 31,
2018

2017
Assets

Cash and cash equivalents
$7,637

$8,813
Short-term and other investments
927

1,179
Accounts receivable, net
3,879

2,894
Unbilled receivables, net
10,025

8,194
Current portion of customer financing, net
460

309
Inventories
62,567

61,388
Other current assets
2,335

2,417
Total current assets
87,830

85,194
Customer financing, net
2,418

2,756
Property, plant and equipment, net
12,645

12,672
Goodwill
7,840

5,559
Acquired intangible assets, net
3,429

2,573
Deferred income taxes
284

321
Investments
1,087

1,260
Other assets, net of accumulated amortization of $503 and $482
1,826

2,027
Total assets
$117,359

$112,362
Liabilities and equity

Accounts payable
$12,916

$12,202
Accrued liabilities
14,808

13,069
Advances and progress billings
50,676

48,042
Short-term debt and current portion of long-term debt
3,190

1,335
Total current liabilities
81,590

74,648
Deferred income taxes
1,736

2,188
Accrued retiree health care
4,584

5,545
Accrued pension plan liability, net
15,323

16,471
Other long-term liabilities
3,059

2,015
Long-term debt
10,657

9,782
Shareholders equity:

Common stock, par value $5.00 1,200,000,000 shares authorized; 1,012,261,159 shares issued
5,061

5,061
Additional paid-in capital
6,768

6,804
Treasury stock, at cost
(52,348)
(43,454)
Retained earnings
55,941

49,618
Accumulated other comprehensive loss
(15,083)
(16,373)
Total shareholders equity
339

1,656
Noncontrolling interests
71

57
Total equity
410

1,713
Total liabilities and equity
$117,359

$112,362
See Notes to the Consolidated Financial Statements on pages 54 113 .
50


BOEING_2022_10K

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
(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)


GENERALMILLS_2022_10K

45
Consolidated Statements of Earnings
GENERAL MILLS, INC. AND SUBSIDIARIES
(In Millions, Except per Share Data)
Fiscal Year
2022
2021
2020
Net sales
$
18,992.8
$
18,127.0
$
17,626.6
Cost of sales
12,590.6
11,678.7
11,496.7
Selling, general, and administrative expenses
3,147.0
3,079.6
3,151.6
Divestitures (gain) loss
(194.1)
53.5
-
Restructuring, impairment, and other exit (recoveries) costs
(26.5)
170.4
24.4
Operating profit
3,475.8
3,144.8
2,953.9
Benefit plan non-service income
(113.4)
(132.9)
(112.8)
Interest, net
379.6
420.3
466.5
Earnings before income taxes and after-tax earnings from joint ventures
3,209.6
2,857.4
2,600.2
Income taxes
586.3
629.1
480.5
After-tax earnings from joint ventures
111.7
117.7
91.1
Net earnings, including earnings attributable to redeemable and
 noncontrolling interests
2,735.0
2,346.0
2,210.8
Net earnings attributable to redeemable and noncontrolling interests
27.7
6.2
29.6
Net earnings attributable to General Mills
$
2,707.3
$
2,339.8
$
2,181.2
Earnings per share basic
$
4.46
$
3.81
$
3.59
Earnings per share diluted
$
4.42
$
3.78
$
3.56
Dividends per share
$
2.04
$
2.02
$
1.96
See accompanying notes to consolidated financial statements.


BOEING_2022_10K

Multiple legal actions have been filed against us as a result of the October 29, 2018 accident of Lion Air Flight 610 and the March 10, 2019
accident of Ethiopian Airlines Flight 302.


VERIZON_2022_10K

Consolidated Operating Revenues
(dollars in millions)
Increase/(Decrease)
Years Ended December 31,
2022
2021
2022 vs. 2021
Consumer
$ 103,506
$ 95,300 $
8,206
 8.6 %
Business
31,072
31,042
30
 0.1
Corporate and other
2,510
7,722
(5,212)
 (67.5)
Eliminations
(253)
(451)
198
 43.9
Consolidated Operating Revenues
$ 136,835
$ 133,613 $
3,222
 2.4


AMERICANEXPRESS_2022_10K

Net card fees increased 17 percent year over-year, as new card acquisitions reached record levels in 2022 and Card Member
retention remained high, demonstrating the impact of investments we have made in our premium value propositions


WALMART_2019_10K

WalmartInc.
ConsolidatedStatementsofIncome

FiscalYearsEndedJanuary31,
(Amounts in millions, except per share data)

2019

2018

2017
Revenues:

Net sales
 $
510,329
 $
495,761
 $
481,317
Membership and other income

4,076

4,582

4,556
Total revenues

514,405

500,343

485,873
Costsandexpenses:

Cost of sales

385,301

373,396

361,256
Operating, selling, general and administrative expenses

107,147

106,510

101,853
Operatingincome

21,957

20,437

22,764
Interest:

Debt

1,975

1,978

2,044
Capital lease and financing obligations

371

352

323
Interest income

(217)
(152)
(100)
Interest, net

2,129

2,178

2,267
Loss on extinguishment of debt

3,136

Other (gains) and losses

8,368

Incomebeforeincometaxes

11,460

15,123

20,497
Provision for income taxes

4,281

4,600

6,204
Consolidatednetincome

7,179

10,523

14,293
Consolidatednetincomeattributabletononcontrollinginterest

(509)
(661)
(650)
ConsolidatednetincomeattributabletoWalmart
 $
6,670
 $
9,862
 $
13,643

Netincomepercommonshare:

BasicnetincomepercommonshareattributabletoWalmart
 $
2.28
 $
3.29
 $
4.40
DilutednetincomepercommonshareattributabletoWalmart

2.26

3.28

4.38

Weighted-averagecommonsharesoutstanding:

Basic

2,929

2,995

3,101
Diluted

2,945

3,010

3,112

Dividendsdeclaredpercommonshare
 $
2.08
 $
2.04
 $
2.00
See accompanying notes.
48


JOHNSON_JOHNSON_2022_10K

JOHNSON & JOHNSON AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(Dollars and Shares in Millions Except Per Share Amounts) (Note 1)
2022
2021
2020
Sales to customers
$
94,943
93,775
82,584
Cost of products sold
31,089
29,855
28,427


MGMRESORTS_2022_10K

. We maintained an annual
dividend of $0.01 per share throughout 2022.


JOHNSON_JOHNSON_2023Q2_EARNINGS

Johnson & Johnson and Subsidiaries

Condensed Consolidated Statement of Earnings

(Unaudited; in Millions Except Per Share Figures)
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
25,530
$
 100.0
24,020
$
 100.0
6.3
Cost of products sold
 8,212
32.2

7,919

33.0

3.7
Gross Profit
17,318

67.8

16,101

67.0

7.6
Selling, marketing and administrative expenses
 6,665
26.1

6,226

25.9

7.1
Research and development expense
 3,829
15.0

3,703

15.4

3.4
Interest (income) expense, net
(23)

 (0.1)
(26)

 (0.1)

Other (income) expense, net*
(60)

 (0.2)
273

1.1

Restructuring
 145
0.5

85

0.4

Earnings before provision for taxes on income
 6,762
26.5

5,840

24.3

15.8
Provision for taxes on income
 1,618
6.4

1,026

4.3

57.7
Net earnings
5,144
$
20.1

4,814
$
20.0

6.9


AMD_2022_10K

Consolidated Balance Sheets

December 31,
2022
December 25,
2021

(In millions, except par value amounts)
ASSETS
Current assets:
Cash and cash equivalents
$
4,835
$
2,535
Short-term investments
1,020
1,073
Accounts receivable, net
4,126
2,706
Inventories
3,771
1,955
Receivables from related parties
2
2
Prepaid expenses and other current assets
1,265
312
Total current assets
15,019
8,583
Property and equipment, net
1,513
702
Operating lease right-of-use assets
460
367
Goodwill
24,177
289
Acquisition-related intangibles
24,118

Investment: equity method
83
69
Deferred tax assets
58
931
Other non-current assets
2,152
1,478
Total assets
$
67,580
$
12,419
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
Accounts payable
$
2,493
$
1,321
Payables to related parties
463
85
Accrued liabilities
3,077
2,424
Current portion of long-term debt, net

312
Other current liabilities
336
98
Total current liabilities
6,369
4,240
Long-term debt, net of current portion
2,467
1
Long-term operating lease liabilities
396
348
Deferred tax liabilities
1,934
12
Other long-term liabilities
1,664
321
Commitments and Contingencies (see Notes 16 and 17)
Stockholders equity:
Capital stock:
Common stock, par value $0.01; shares authorized: 2,250; shares issued: 1,645 and 1,232; shares
outstanding: 1,612 and 1,207
16
12
Additional paid-in capital
58,005
11,069
Treasury stock, at cost (shares held: 33 and 25)
(3,099)
(2,130)
Accumulated deficit
(131)
(1,451)
Accumulated other comprehensive loss
(41)
(3)
Total stockholders equity
54,750
7,497
Total liabilities and stockholders equity
$
67,580
$
12,419


GENERALMILLS_2022_10K

49
Consolidated Statements of Cash Flows
GENERAL MILLS, INC. AND SUBSIDIARIES
(In Millions)
Fiscal Year
2022
2021
2020
Cash Flows - Operating Activities
Net earnings, including earnings attributable to redeemable and noncontrolling interests
$
2,735.0
$
2,346.0
$
2,210.8
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization
570.3
601.3
594.7
After-tax earnings from joint ventures
(111.7)
(117.7)
(91.1)
Distributions of earnings from joint ventures
107.5
95.2
76.5
Stock-based compensation
98.7
89.9
94.9
Deferred income taxes
62.2
118.8
(29.6)
Pension and other postretirement benefit plan contributions
(31.3)
(33.4)
(31.1)
Pension and other postretirement benefit plan costs
(30.1)
(33.6)
(32.3)
Divestitures (gain) loss
(194.1)
53.5
-
Restructuring, impairment, and other exit (recoveries) costs
(117.1)
150.9
43.6
Changes in current assets and liabilities, excluding the effects of acquisition and divestitures
277.4
(155.9)
793.9
Other, net
(50.7)
(131.8)
45.9
Net cash provided by operating activities
3,316.1
2,983.2
3,676.2
Cash Flows - Investing Activities
Purchases of land, buildings, and equipment
(568.7)
(530.8)
(460.8)
Acquisition
(1,201.3)
-
-
Investments in affiliates, net
15.4
15.5
(48.0)
Proceeds from disposal of land, buildings, and equipment
3.3
2.7
1.7
Proceeds from divestitures, net of cash divested
74.1
2.9
-
Other, net
(13.5)
(3.1)
20.9
Net cash used by investing activities
(1,690.7)
(512.8)
(486.2)
Cash Flows - Financing Activities
Change in notes payable
551.4
71.7
(1,158.6)
Issuance of long-term debt
2,203.7
1,576.5
1,638.1
Payment of long-term debt
(3,140.9)
(2,609.0)
(1,396.7)
Debt exchange participation incentive cash payment
-
(201.4)
-
Proceeds from common stock issued on exercised options
161.7
74.3
263.4
Purchases of common stock for treasury
(876.8)
(301.4)
(3.4)
Dividends paid
(1,244.5)
(1,246.4)
(1,195.8)
Distributions to noncontrolling and redeemable interest holders
(129.8)
(48.9)
(72.5)
Other, net
(28.0)
(30.9)
(16.0)
Net cash used by financing activities
(2,503.2)
(2,715.5)
(1,941.5)
Effect of exchange rate changes on cash and cash equivalents
(58.0)
72.5
(20.7)
(Decrease) increase in cash and cash equivalents
(935.8)
(172.6)
1,227.8
Cash and cash equivalents - beginning of year
1,505.2
1,677.8
450.0
Cash and cash equivalents - end of year
$
569.4
$
1,505.2
$
1,677.8
Cash flow from changes in current assets and liabilities, excluding the effects of acquisition and
 divestitures:
Receivables
$
(166.3)
$
27.9
$
37.9
Inventories
(85.8)
(354.7)
103.1
Prepaid expenses and other current assets
(35.3)
(42.7)
94.2
Accounts payable
456.7
343.1
392.5
Other current liabilities
108.1
(129.5)
166.2
Changes in current assets and liabilities
$
277.4
$
(155.9)
$
793.9
See accompanying notes to consolidated financial statements.


NIKE_2019_10K

Table of Contents
NIKE, INC.
CONSOLIDATED BALANCE SHEETS

MAY 31,
(Dollars in millions)
2019
2018
ASSETS

Current assets:

Cash and equivalents
$
4,466
$
4,249
Short-term investments
197
996
Accounts receivable, net
4,272
3,498
Inventories
5,622
5,261
Prepaid expenses and other current assets
1,968
1,130
Total current assets
16,525
15,134
Property, plant and equipment, net
4,744
4,454
Identifiable intangible assets, net
283
285
Goodwill
154
154
Deferred income taxes and other assets
2,011
2,509
TOTAL ASSETS
$
23,717
$
22,536
LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Current portion of long-term debt
$
6
$
6
Notes payable
9
336
Accounts payable
2,612
2,279
Accrued liabilities
5,010
3,269
Income taxes payable
229
150
Total current liabilities
7,866
6,040
Long-term debt
3,464
3,468
Deferred income taxes and other liabilities
3,347
3,216
Commitments and contingencies (Note 18)
Redeemable preferred stock

Shareholders' equity:

Common stock at stated value:

Class A convertible 315 and 329 shares outstanding

Class B 1,253 and 1,272 shares outstanding
3
3
Capital in excess of stated value
7,163
6,384
Accumulated other comprehensive income (loss)
231
(92)
Retained earnings
1,643
3,517
Total shareholders' equity
9,040
9,812
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$
23,717
$
22,536
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.
52 NIKE, INC.


MGMRESORTS_2022Q4_EARNINGS

dited)

Three months ended

Twelve months ended

December 31,
2022

December 31,
2021

December 31,
2022

December 31,
2021
Las Vegas Strip Resorts
$
877,052 $
698,739 $
3,142,308 $
1,738,211
Regional Operations

319,517
309,250
1,294,630
1,217,814
MGM China

(54,979)
5,015
(203,136)
25,367
Unconsolidated affiliates(1)

(43,029)
(49,698)
(222,079)
(131,590)
Management and other operations

(3,037)
2,087

(11,934)
15,766
Stock compensation

(25,159)
(26,494)
(71,297)
(63,984)
Corporate(2)

(113,058)
(117,491)
(431,238)
(380,501)

$
957,307
 $
3,497,254


COCACOLA_2017_10K

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

25,398

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
1,071

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 (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 continuing operations1
$
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

DILUTED 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 attributable to noncontrolling
interests.
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.
72


GENERALMILLS_2019_10K

Table of Contents
Consolidated Statements of Earnings
GENERAL MILLS, INC. AND SUBSIDIARIES
(In Millions, Except per Share Data)

Fiscal Year

2019

2018

2017

Net sales

 $ 16,865.2
 $ 15,740.4
 $ 15,619.8
Cost of sales

11,108.4

10,304.8

10,052.0
Selling, general, and administrative expenses

2,935.8

2,850.1

2,888.8
Divestitures loss

30.0

-

6.5
Restructuring, impairment, and other exit costs

275.1

165.6

180.4

Operating profit

2,515.9

2,419.9

2,492.1
Benefit plan non-service income

(87.9)

(89.4)

(74.3)
Interest, net

521.8

373.7

295.1

Earnings before income taxes and after-tax earnings from joint ventures

2,082.0

2,135.6

2,271.3
Income taxes

367.8

57.3

655.2
After-tax earnings from joint ventures

72.0

84.7

85.0

Net earnings, including earnings attributable to redeemable and noncontrolling
interests

1,786.2

2,163.0

1,701.1
Net earnings attributable to redeemable and noncontrolling interests

33.5

32.0

43.6

Net earnings attributable to General Mills

 $
1,752.7
 $
2,131.0
 $
1,657.5

Earnings per share - basic

 $
2.92
 $
3.69
 $
2.82

Earnings per share - diluted

 $
2.90
 $
3.64
 $
2.77

Dividends per share

 $
1.96
 $
1.96
 $
1.92

See accompanying notes to consolidated financial statements.

53


CORNING_2021_10K

TableofContents

Consolidated Statements of Income
Corning Incorporated and Subsidiary Companies

YearendedDecember31,

(Inmillions,exceptpershareamounts)

2021

2020

2019

Netsales
 $
14,082 $
11,303 $
11,503
Costofsales

9,019
7,772
7,468

Grossmargin

5,063
3,531
4,035

Operatingexpenses:

Selling,generalandadministrativeexpenses

1,827
1,747
1,585
Research,developmentandengineeringexpenses

995
1,154
1,031
Amortizationofpurchasedintangibles

129
121
113

Operatingincome

2,112
509
1,306

Equityinearnings(losses)ofaffiliatedcompanies(Note3)

35
(25)
17
Interestincome

11
15
21
Interestexpense

(300)
(276)
(221)
Translatedearningscontractgain(loss),net(Note15)

354
(38)
248
Transaction-relatedgain,net(Note4)

498

Otherincome(expense),net

185
(60)
(155)

Incomebeforeincometaxes

2,397
623
1,216
Provisionforincometaxes(Note8)

(491)
(111)
(256)

NetincomeattributabletoCorningIncorporated
 $
1,906 $
512 $
960

EarningspercommonshareattributabletoCorningIncorporated:

Basic(Note18)
 $
1.30 $
0.54 $
1.11
Diluted(Note18)
 $
1.28 $
0.54 $
1.07

ReconciliationofnetincomeattributabletoCorningIncorporatedversusnetincomeavailabletocommon
shareholders:

NetincomeattributabletoCorningIncorporated
 $
1,906 $
512 $
960

SeriesAconvertiblepreferredstockdividend

(24)
(98)
(98)
Excessconsiderationpaidforredemptionofpreferredstock(1)

(803)

Netincomeavailabletocommonshareholders
 $
1,079 $
414 $
862

(1)
RefertoNote17(Shareholders'Equity)andNote18(EarningsperCommonShare)totheconsolidatedfinancialstatementsforadditionalinformation.

Theaccompanyingnotesareanintegralpartoftheseconsolidatedfinancialstatements.

65


Exhibit 99.1
Johnson & Johnson Announces Updated Financials and 2023 Guidance Following Completion of the Kenvue
Separation

Company expects increased 2023 Reported Sales Growth of 7.0% - 8.0%, Operational Sales Growth of 7.5% - 8.5%, and
Adjusted Operational Sales Growth of 6.2% - 7.2%; Figures exclude the COVID-19 Vaccine

Company expects 2023 Adjusted Reported Earnings Per Share (EPS) of $10.00 - $10.10, reflecting increased growth of
12.5% at the mid-point and Adjusted Operational EPS of $9.90 - $10.00, reflecting increased growth of 11.5% at the mid-
point

Company reduced outstanding share count by approximately 191 million; 2023 guidance reflects only a partial-year benefit
of approximately 73.5 million shares or $0.28 benefit to EPS

Company secured $13.2 billion in cash proceeds from the Kenvue debt offering and initial public offering and maintains 9.5%
of equity stake in Kenvue

Company maintains its quarterly dividend of $1.19 per share
New Brunswick, N.J. (August 30, 2023) Johnson & Johnson (NYSE: JNJ) (the Company) today announced updates to its financials and
2023 guidance which reflect its operations as a company focused on transformational innovation in Pharmaceutical and MedTech. The
Company has published a recorded webinar for investors to provide additional context behind the updated financials and 2023 guidance
found in this release, which may be accessed by visiting the Investors section of the Company's website at webcasts & presentations.
The completion of this transaction uniquely positions Johnson & Johnson as a Pharmaceutical and MedTech company focused on delivering
transformative healthcare solutions to patients, said Joaquin Duato, Chairman of the Board and Chief Executive Officer. We are incredibly
proud of the focus and dedication of our employees worldwide to achieve this milestone, which we are confident will unlock near- and long-
term value for all of our stakeholders.
As previously announced, the Company recently completed an exchange offer to finalize the separation of Kenvue Inc., formerly Johnson &
Johnsons Consumer Health business. As a result of the completion of the exchange offer, Johnson & Johnson will now present its
Consumer Health business financial results as discontinued operations, including a gain of approximately $20 billion in the third quarter of
2023


3M_2022_10K

SG&A, measured as a percent of sales, increased in 2022 when compared to the same period last year. SG&A was impacted by increased special item costs for significant
litigation primarily related to steps toward resolving Combat Arms Earplugs litigation (discussed in Note 16) resulting in a 2022 second quarter pre-tax charge of approximately
$1.2 billion, certain impairment costs related to exiting PFAS manufacturing (see Note 15), costs related to exiting Russia (see Note 15), divestiture-related restructuring
charges (see Note 5), and continued investment in key growth initiatives. These increases were partially offset by restructuring benefits and ongoing general 3M cost
management.


MGMRESORTS_2022Q4_EARNINGS

Regional Operations

Net revenues of $3.8 billion in the current year compared to $3.4 billion in the prior year, an
increase of 12%;


ULTABEAUTY_2023Q4_EARNINGS

Balance Sheet
Cash and cash equivalents at the end of the fourth quarter of fiscal 2022 were $737.9
million.
Merchandise inventories, net at the end of the fourth quarter of fiscal 2022 totaled $1.6
billion compared to $1.5 billion at the end of the fourth quarter of fiscal 2021. The $104.2
million increase was primarily due to the opening of 47 new stores since January 29, 2022,
inventory to support new brand launches and brand expansions, and inventory cost
increases.


AMCOR_2023_10K

Amcor plc and Subsidiaries
Consolidated Balance Sheets
($ in millions, except share and per share data)
As of June 30,
2023
2022
Assets
Current assets:
Cash and cash equivalents
$
689
$
775
Trade receivables, net of allowance for credit losses of $21 and $25, respectively
1,875
1,935
Inventories, net
Raw materials and supplies
992
1,114
Work in process and finished goods
1,221
1,325
Prepaid expenses and other current assets
531
512
Assets held for sale, net

192
Total current assets
5,308
5,853
Non-current assets:
Property, plant, and equipment, net
3,762
3,646
Operating lease assets
533
560
Deferred tax assets
134
130
Other intangible assets, net
1,524
1,657
Goodwill
5,366
5,285
Employee benefit assets
67
89
Other non-current assets
309
206
Total non-current assets
11,695
11,573
Total assets
$
17,003
$
17,426
Liabilities
Current liabilities:
Current portion of long-term debt
$
13
$
14
Short-term debt
80
136
Trade payables
2,690
3,073
Accrued employee costs
396
471
Other current liabilities
1,297
1,344
Liabilities held for sale

65
Total current liabilities
4,476
5,103
Non-current liabilities:
Long-term debt, less current portion
6,653
6,340
Operating lease liabilities
463
493
Deferred tax liabilities
616
677
Employee benefit obligations
224
201
Other non-current liabilities
481
471
Total non-current liabilities
8,437
8,182
Total liabilities
$
12,913
$
13,285
Commitments and contingencies (See Note 20)
Shareholders' Equity
Amcor plc shareholders equity:
Ordinary shares ($0.01 par value):
Authorized (9,000 million shares)
Issued (1,448 and 1,489 million shares, respectively)
$
14
$
15
Additional paid-in capital
4,021
4,431
Retained earnings
865
534
Accumulated other comprehensive loss
(862)
(880)
Treasury shares (1 and 2 million shares, respectively)
(12)
(18)
Total Amcor plc shareholders' equity
4,026
4,082
Non-controlling interests
64
59
Total shareholders' equity
4,090
4,141
Total liabilities and shareholders' equity
$
17,003
$
17,426
See accompanying notes to consolidated financial statements.
5


AMD_2022_10K

One customer accounted for 16% of our consolidated net revenue for the year ended December 31, 2022. Sales to this customer consisted of sales of products
from our Gaming segment. A loss of this customer would have a material adverse effect on our business.


CORNING_2022_10K

RESULTS OF OPERATIONS

The following table presents selected highlights from our operations (in millions):

Year ended December 31,

% change

2022

2021

22 vs. 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 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
 $
1,316 $
1,906
(31%)
(as a % of net sales)

9%
14%

Comprehensive income attributable to Corning Incorporated
 $
661 $
1,471
(55%)