KRAFTHEINZ_2019_10K

The Kraft Heinz Company
Consolidated Balance Sheets
(in millions, except per share data)

December 28, 2019 December 29, 2018
ASSETS

Cash and cash equivalents
$
2,279 $
1,130
Trade receivables (net of allowances of $33 at December 28, 2019 and $24 at December 29, 2018)
1,973
2,129
Income taxes receivable
173
152
Inventories
2,721
2,667
Prepaid expenses
384
400
Other current assets
445
1,221
Assets held for sale
122
1,376
Total current assets
8,097
9,075
Property, plant and equipment, net
7,055
7,078
Goodwill
35,546
36,503
Intangible assets, net
48,652
49,468
Other non-current assets
2,100
1,337
TOTAL ASSETS
$
101,450 $
103,461
LIABILITIES AND EQUITY

Commercial paper and other short-term debt
$
6 $
21
Current portion of long-term debt
1,022
377
Trade payables
4,003
4,153
Accrued marketing
647
722
Interest payable
384
408
Other current liabilities
1,804
1,767
Liabilities held for sale
9
55
Total current liabilities
7,875
7,503
Long-term debt
28,216
30,770
Deferred income taxes
11,878
12,202
Accrued postemployment costs
273
306
Other non-current liabilities
1,459
902
TOTAL LIABILITIES
49,701
51,683
Commitments and Contingencies (Note 17)

Redeemable noncontrolling interest

3
Equity:

Common stock, $0.01 par value (5,000 shares authorized; 1,224 shares issued and 1,221 shares outstanding at December 28, 2019;
1,224 shares issued and 1,220 shares outstanding at December 29, 2018)
12
12
Additional paid-in capital
56,828
58,723
Retained earnings/(deficit)
(3,060)
(4,853)
Accumulated other comprehensive income/(losses)
(1,886)
(1,943)
Treasury stock, at cost (3 shares at December 28, 2019 and 4 shares at December 29, 2018)
(271)
(282)
Total shareholders' equity
51,623
51,657
Noncontrolling interest
126
118
TOTAL EQUITY
51,749
51,775
TOTAL LIABILITIES AND EQUITY
$
101,450 $
103,461
See accompanying notes to the consolidated financial statements.
47


AMERICANWATERWORKS_2021_10K

Table of Contents
American Water Works Company, Inc. and Subsidiary Companies
Consolidated Statements of Operations
(In millions, except per share data)

For the Years Ended December 31,

2021
2020
2019
Operating revenues
$
3,930
$
3,777
$
3,610
Operating expenses:

Operation and maintenance
1,777
1,622
1,544
Depreciation and amortization
636
604
582
General taxes
321
303
280
Other

(10)
Total operating expenses, net
2,734
2,529
2,396
Operating income
1,196
1,248
1,214
Other income (expense):

Interest expense
(403)
(397)
(386)
Interest income
4
2
4
Non-operating benefit costs, net
78
49
16
Gain or (loss) on sale of businesses
747

(44)
Other, net
18
22
29
Total other income (expense)
444
(324)
(381)
Income before income taxes
1,640
924
833
Provision for income taxes
377
215
212
Net income attributable to common shareholders
$
1,263
$
709
$
621
Basic earnings per share: (a)

Net income attributable to common shareholders
$
6.96
$
3.91
$
3.44
Diluted earnings per share: (a)

Net income attributable to common shareholders
$
6.95
$
3.91
$
3.43
Weighted average common shares outstanding:

Basic
182
181
181
Diluted
182
182
181
(a)
Amounts may not calculate due to rounding.
The accompanying notes are an integral part of these Consolidated Financial Statements.
84


BESTBUY_2023_10K

Acquisitions

Current Health Ltd.

In fiscal 2022, we acquired all of the outstanding shares of Current Health Ltd. (Current Health), a care-at-home technology platform, on November 2, 2021, for
net cash consideration of $389 million. The acquired assets included $351 million of goodwill that was assigned to our Best Buy Health reporting unit and was
deductible for income tax purposes. The acquisition is aligned with our focus in virtual care to enable people in their homes to connect seamlessly with their
health care providers and is included in our Domestic reportable segment and Services revenue category. The acquisition was accounted for using the
acquisition method of accounting for business combinations and was not material to the results of operations.

Two Peaks, LLC d/b/a Yardbird Furniture

In fiscal 2022, we acquired all of the outstanding shares of Two Peaks, LLC d/b/a Yardbird Furniture (Yardbird), a direct-to-consumer outdoor furniture company,
on November 4, 2021, for net cash consideration of $79 million. The acquired assets included $47 million of goodwill that was assigned to our Best Buy Domestic
reporting unit and was deductible for income tax purposes. The acquisition expands our assortment in categories like outdoor living, as more and more
consumers look to make over or upgrade their outdoor living spaces. The acquisition was accounted for using the acquisition method of accounting for business
combinations and was not material to the results of our operations.


CVSHEALTH_2022_10K

Usual and Customary Pricing Litigation
The Company and certain current and former directors and officers are named as a defendant in a number of lawsuits that allege that the Companys retail
pharmacies overcharged for prescription drugs by not submitting the correct usual and customary price during the claims adjudication process.


PFIZER_2021_10K

Therachon
On July 1, 2019, we acquired all the remaining shares of Therachon, a privately-held clinical-stage biotechnology company focused on rare diseases, with assets in development for
the treatment of achondroplasia, a genetic condition and the most common form of short-limb dwarfism, for $340 million upfront, plus potential milestone payments of up to $470
million contingent on the achievement of key milestones in the development and commercialization of the lead asset. We accounted for the transaction as an asset acquisition since
the lead asset represented substantially all the fair value of the gross assets acquired. The total fair value of the consideration transferred for Therachon was $322 million, which
consisted of $317 million of cash and our previous $5 million investment in Therachon. In connection with this asset acquisition, we recorded a charge of $337 million in Research and
development expenses.


WALMART_2020_10K

Walmart Inc.
Consolidated Statements of Income

Fiscal Years Ended January 31,
(Amounts in millions, except per share data)

2020

2019

2018
Revenues:

Net sales
 $
519,926
 $
510,329 $
495,761
Membership and other income

4,038

4,076
4,582
Total revenues

523,964

514,405
500,343
Costs and expenses:

Cost of sales

394,605

385,301
373,396
Operating, selling, general and administrative expenses

108,791

107,147
106,510
Operating income

20,568

21,957
20,437
Interest:

Debt

2,262

1,975
1,978
Finance, capital lease and financing obligations

337

371
352
Interest income

(189)
(217)
(152)
Interest, net

2,410

2,129
2,178
Loss on extinguishment of debt

3,136
Other (gains) and losses

(1,958)
8,368

Income before income taxes

20,116

11,460
15,123
Provision for income taxes

4,915

4,281
4,600
Consolidated net income

15,201

7,179
10,523
Consolidated net income attributable to noncontrolling interest

(320)
(509)
(661)
Consolidated net income attributable to Walmart
 $
14,881
 $
6,670 $
9,862

Net income per common share:

Basic net income per common share attributable to Walmart
 $
5.22
 $
2.28 $
3.29
Diluted net income per common share attributable to Walmart

5.19

2.26
3.28

Weighted-average common shares outstanding:

Basic

2,850

2,929
2,995
Diluted

2,868

2,945
3,010

Dividends declared per common share
 $
2.12
 $
2.08 $
2.04
See accompanying notes.
50


PEPSICO_2022_10K

Item 3. Legal Proceedings.
We and our subsidiaries are party to a variety of litigation, claims, legal or regulatory proceedings, inquiries and investigations.
While the results of such litigation, claims, legal or regulatory proceedings, inquiries and investigations cannot be predicted with
certainty, management believes that the final outcome of the foregoing will not have a material adverse effect on our financial
condition, results of operations or cash flows. See also Item 1. Business Regulatory Matters and Item 1A. Risk Factors.


AES_2022_10K

129
Consolidated Statements of Operations
Years ended December 31, 2022, 2021, and 2020
2022
2021
2020
(in millions, except per share amounts)
Revenue:
Regulated
$
3,538
$
2,868
$
2,661
Non-Regulated
9,079
8,273
6,999
Total revenue
12,617
11,141
9,660
Cost of Sales:
Regulated
(3,162)
(2,448)
(2,235)
Non-Regulated
(6,907)
(5,982)
(4,732)
Total cost of sales
(10,069)
(8,430)
(6,967)
Operating margin
2,548
2,711
2,693
General and administrative expenses
(207)
(166)
(165)
Interest expense
(1,117)
(911)
(1,038)
Interest income
389
298
268
Loss on extinguishment of debt
(15)
(78)
(186)
Other expense
(68)
(60)
(53)
Other income
102
410
75
Loss on disposal and sale of business interests
(9)
(1,683)
(95)
Goodwill impairment expense
(777)

Asset impairment expense
(763)
(1,575)
(864)
Foreign currency transaction gains (losses)
(77)
(10)
55
Other non-operating expense
(175)

(202)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES
(169)
(1,064)
488
Income tax benefit (expense)
(265)
133
(216)
Net equity in losses of affiliates
(71)
(24)
(123)
INCOME (LOSS) FROM CONTINUING OPERATIONS
(505)
(955)
149
Gain from disposal of discontinued businesses, net of income tax expense of $0, $1, and $0, respectively

4
3
NET INCOME (LOSS)
(505)
(951)
152
Less: Net loss (income) attributable to noncontrolling interests and redeemable stock of subsidiaries
(41)
542
(106)
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
$
(546)
$
(409)
$
46
AMOUNTS ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS:
Income (loss) from continuing operations, net of tax
$
(546)
$
(413)
$
43
Income from discontinued operations, net of tax

4
3
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
$
(546)
$
(409)
$
46
BASIC EARNINGS PER SHARE:
Income (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax
$
(0.82)
$
(0.62)
$
0.06
Income from discontinued operations attributable to The AES Corporation common stockholders, net of tax

0.01
0.01
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS
$
(0.82)
$
(0.61)
$
0.07
DILUTED EARNINGS PER SHARE:
Income (loss) from continuing operations attributable to The AES Corporation common stockholders, net of tax
$
(0.82)
$
(0.62)
$
0.06
Income from discontinued operations attributable to The AES Corporation common stockholders, net of tax

0.01
0.01
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION COMMON STOCKHOLDERS
$
(0.82)
$
(0.61)
$
0.07
See Accompanying Notes to Consolidated Financial Statements.


3M_2023Q2_10Q

This marked the 65th consecutive
year of dividend increases for 3M.


BLOCK_2020_10K

SQUARE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended December 31,
2020
2019
2018
Revenue:
Transaction-basedrevenue
$
3,294,978
$
3,081,074
$
2,471,451
Subscriptionandservices-basedrevenue
1,539,403
1,031,456
591,706
Hardwarerevenue
91,654
84,505
68,503
Bitcoinrevenue
4,571,543
516,465
166,517
Totalnetrevenue
9,497,578
4,713,500
3,298,177
Costofrevenue:
Transaction-basedcosts
1,911,848
1,937,971
1,558,562
Subscriptionandservices-basedcosts
222,712
234,270
169,884
Hardwarecosts
143,901
136,385
94,114
Bitcoincosts
4,474,534
508,239
164,827
Amortizationofacquiredtechnology
11,174
6,950
7,090
Totalcostofrevenue
6,764,169
2,823,815
1,994,477
Grossprofit
2,733,409
1,889,685
1,303,700
Operatingexpenses:
Productdevelopment
881,826
670,606
497,479
Salesandmarketing
1,109,670
624,832
411,151
Generalandadministrative
579,203
436,250
339,245
Transactionandloanlosses
177,670
126,959
88,077
Amortizationofacquiredcustomerassets
3,855
4,481
4,362
Totaloperatingexpenses
2,752,224
1,863,128
1,340,314
Operatingincome(loss)
(18,815)
26,557
(36,614)
Gainonsaleofassetgroup

(373,445)

Interestexpense,net
56,943
21,516
17,982
Otherexpense(income),net
(291,725)
273
(18,469)
Income(loss)beforeincometax
215,967
378,213
(36,127)
Provisionforincometaxes
2,862
2,767
2,326
Netincome(loss)
$
213,105
$
375,446
$
(38,453)
Netincome(loss)pershare:
Basic
$
0.48
$
0.88
$
(0.09)
Diluted
$
0.44
$
0.81
$
(0.09)
Weighted-averagesharesusedtocomputenetincome(loss)pershare:
Basic
443,126
424,999
405,731
Diluted
482,167
466,076
405,731
Seeaccompanyingnotestoconsolidatedfinancialstatements.
85


MGMRESORTS_2022Q4_EARNINGS

Las Vegas Strip Resorts

Net revenues of $8.4 billion in the current year compared to $4.7 billion in the prior year, an
increase of 77%;


AMCOR_2023_10K

Amcor plc and Subsidiaries
Consolidated Statements of Income
($ in millions, except per share data)
For the years ended June 30,
2023
2022
2021
Net sales
$
14,694
$
14,544
$
12,861
Cost of sales
(11,969)
(11,724)
(10,129)
Gross profit
2,725
2,820
2,732


VERIZON_2021_10K

Pension and postretirement health care and life insurance benefits earned during the year, as well as interest on projected benefit obligations,
are accrued.


VERIZON_2022_10K

Consolidated Balance Sheets
Verizon Communications Inc. and Subsidiaries
(dollars in millions, except per share amounts)
At December 31,
2022
2021
Assets
Current assets
Cash and cash equivalents
$
2,605
$
2,921
Accounts receivable

25,332

24,742
Less Allowance for credit losses

826

896
Accounts receivable, net

24,506

23,846
Inventories

2,388

3,055
Prepaid expenses and other

8,358

6,906
Total current assets

37,857

36,728
Property, plant and equipment

307,689

289,897
Less Accumulated depreciation

200,255

190,201
Property, plant and equipment, net

107,434

99,696
Investments in unconsolidated businesses

1,071

1,061
Wireless licenses

149,796

147,619
Goodwill

28,671

28,603
Other intangible assets, net

11,461

11,677
Operating lease right-of-use assets

26,130

27,883
Other assets

17,260

13,329
Total assets
$
379,680
$
366,596
Liabilities and Equity
Current liabilities
Debt maturing within one year
$
9,963
$
7,443
Accounts payable and accrued liabilities

23,977

24,833
Current operating lease liabilities

4,134

3,859
Other current liabilities

12,097

11,025
Total current liabilities

50,171

47,160


3M_2023Q2_10Q

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, Par Value $.01 Per Share
MMM
New York Stock Exchange
MMM
Chicago Stock Exchange, Inc.
1.500% Notes due 2026
MMM26
New York Stock Exchange
1.750% Notes due 2030
MMM30
New York Stock Exchange
1.500% Notes due 2031
MMM31
New York Stock Exchange


AMCOR_2023_10K

Today, we are a global leader in developing and producing responsible
packaging for food, beverage, pharmaceutical, medical, home and personal-care, and other products


AES_2022_10K

128
Consolidated Balance Sheets
December 31, 2022 and 2021
2022
2021
(in millions, except share and per share data)
ASSETS
CURRENT ASSETS
Cash and cash equivalents
$
1,374
$
943
Restricted cash
536
304
Short-term investments
730
232
Accounts receivable, net of allowance for doubtful accounts of $5 and $5, respectively
1,799
1,418
Inventory
1,055
604
Prepaid expenses
98
142
Other current assets, net of CECL allowance of $2 and $0, respectively
1,533
897
Current held-for-sale assets
518
816
Total current assets
7,643
5,356
NONCURRENT ASSETS
Property, Plant and Equipment:
Land
470
426
Electric generation, distribution assets and other
26,599
25,552
Accumulated depreciation
(8,651)
(8,486)
Construction in progress
4,621
2,414
Property, plant and equipment, net
23,039
19,906
Other Assets:
Investments in and advances to affiliates
952
1,080
Debt service reserves and other deposits
177
237
Goodwill
362
1,177
Other intangible assets, net of accumulated amortization of $434 and $385, respectively
1,841
1,450
Deferred income taxes
319
409
Loan receivable, net of allowance of $26
1,051

Other noncurrent assets, net of allowance of $51 and $23, respectively
2,979
2,188
Noncurrent held-for-sale assets

1,160
Total other assets
7,681
7,701
TOTAL ASSETS
$
38,363
$
32,963
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable
$
1,730
$
1,153
Accrued interest
249
182
Accrued non-income taxes
249
266
Accrued and other liabilities
2,151
1,205
Non-recourse debt, including $416 and $302, respectively, related to variable interest entities
1,758
1,367
Current held-for-sale liabilities
354
559
Total current liabilities
6,491
4,732
NONCURRENT LIABILITIES
Recourse debt
3,894
3,729
Non-recourse debt, including $2,295 and $2,223, respectively, related to variable interest entities
17,846
13,603
Deferred income taxes
1,139
977
Other noncurrent liabilities
3,168
3,358
Noncurrent held-for-sale liabilities

740
Total noncurrent liabilities
26,047
22,407
Commitments and Contingencies (see Notes 12 and 13)
Redeemable stock of subsidiaries
1,321
1,257
EQUITY
THE AES CORPORATION STOCKHOLDERS EQUITY
Preferred stock (without par value, 50,000,000 shares authorized; 1,043,050 issued and outstanding at December 31, 2022 and
December 31, 2021)
838
838
Common stock ($0.01 par value, 1,200,000,000 shares authorized; 818,790,001 issued and 668,743,464 outstanding at December
31, 2022 and 818,717,043 issued and 666,793,625 outstanding at December 31, 2021)
8
8
Additional paid-in capital
6,688
7,106
Accumulated deficit
(1,635)
(1,089)
Accumulated other comprehensive loss
(1,640)
(2,220)
Treasury stock, at cost (150,046,537 and 151,923,418 shares at December 31, 2022 and December 31, 2021, respectively)
(1,822)
(1,845)
Total AES Corporation stockholders equity
2,437
2,798
NONCONTROLLING INTERESTS
2,067
1,769
Total equity
4,504
4,567
TOTAL LIABILITIES AND EQUITY
$
38,363
$
32,963
See Accompanying Notes to Consolidated Financial Statements.


CVSHEALTH_2022_10K

The Company is facing multiple lawsuits, including by state Attorneys General, governmental subdivisions and several putative class actions, regarding drug
pricing and its rebate arrangements with drug manufacturers. These complaints, brought by a number of different types of plaintiffs under a variety of legal
theories, generally allege that rebate agreements between the drug manufacturers and PBMs caused inflated prices for certain drug products.


NIKE_2018_10K

Table of Contents
NIKE, Inc. Consolidated Statements of Income

Year Ended May 31,
(In millions, except per share data)

2018

2017

2016
Revenues
 $
36,397
 $
34,350 $
32,376
Cost of sales

20,441

19,038
17,405
Gross profit

15,956

15,312
14,971
Demand creation expense

3,577

3,341
3,278
Operating overhead expense

7,934

7,222
7,191
Total selling and administrative expense

11,511

10,563
10,469
Interest expense (income), net

54

59
19
Other expense (income), net

66

(196)
(140)
Income before income taxes

4,325

4,886
4,623
Income tax expense

2,392

646
863
NET INCOME
 $
1,933
 $
4,240 $
3,760

Earnings per common share:

Basic
 $
1.19
 $
2.56 $
2.21
Diluted
 $
1.17
 $
2.51 $
2.16

Dividends declared per common share
 $
0.78
 $
0.70 $
0.62
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.
44


KRAFTHEINZ_2019_10K

The Kraft Heinz Company
Consolidated Statements of Income
(in millions, except per share data)

December 28, 2019 December 29, 2018 December 30, 2017
Net sales
$
24,977
 $
26,268 $
26,076
Cost of products sold
16,830

17,347
17,043
Gross profit
8,147

8,921
9,033
Selling, general and administrative expenses, excluding impairment losses
3,178

3,190
2,927
Goodwill impairment losses
1,197

7,008

Intangible asset impairment losses
702

8,928
49
Selling, general and administrative expenses
5,077

19,126
2,976
Operating income/(loss)
3,070

(10,205)
6,057
Interest expense
1,361

1,284
1,234
Other expense/(income)
(952)
(168)
(627)
Income/(loss) before income taxes
2,661

(11,321)
5,450
Provision for/(benefit from) income taxes
728

(1,067)
(5,482)
Net income/(loss)
1,933

(10,254)
10,932
Net income/(loss) attributable to noncontrolling interest
(2)
(62)
(9)
Net income/(loss) attributable to common shareholders
$
1,935
 $
(10,192) $
10,941
Per share data applicable to common shareholders:

Basic earnings/(loss)
$
1.59
 $
(8.36) $
8.98
Diluted earnings/(loss)
1.58

(8.36)
8.91
See accompanying notes to the consolidated financial statements.
45


JOHNSON_JOHNSON_2022_10K

Analysis of Consolidated Earnings Before Provision for Taxes on Income
Consolidated earnings before provision for taxes on income was $21.7 billion and $22.8 billion for the years 2022 and 2021, respectively. As a percent to
sales, consolidated earnings before provision for taxes on income was 22.9% and 24.3%, in 2022 and 2021, respectively.
(Dollars in billions. Percentages in chart are as a percent to total sales)
Cost of Products Sold and Selling, Marketing and Administrative Expenses:
(Dollars in billions. Percentages in chart are as a percent to total sales)
Cost of products sold increased as a percent to sales driven by:

One-time COVID-19 vaccine manufacturing exit related costs

Currency impacts in the Pharmaceutical segment

Commodity inflation in the MedTech and Consumer Health segments
partially offset by

Supply chain benefits in the Consumer Health segment
The intangible asset amortization expense included in cost of products sold was $4.3 billion and $4.7 billion for the fiscal years 2022 and 2021,
respectively.


PAYPAL_2022_10K

PayPal Holdings, Inc.
CONSOLIDATED BALANCE SHEETS

As of December 31,
2022
2021

(In millions, except par value)
ASSETS
Current assets:
Cash and cash equivalents
$
7,776
$
5,197
Short-term investments
3,092
4,303
Accounts receivable, net
963
800
Loans and interest receivable, net of allowances of $598 and $491 as of December 31, 2022 and 2021,
respectively
7,431
4,846
Funds receivable and customer accounts
36,357
36,141
Prepaid expenses and other current assets
1,898
1,287
Total current assets
57,517
52,574
Long-term investments
5,018
6,797
Property and equipment, net
1,730
1,909
Goodwill
11,209
11,454
Intangible assets, net
788
1,332
Other assets
2,455
1,737
Total assets
$
78,717
$
75,803
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
$
126
$
197
Funds payable and amounts due to customers
40,107
38,841
Accrued expenses and other current liabilities
4,055
3,755
Income taxes payable
813
236
Total current liabilities
45,101
43,029
Deferred tax liability and other long-term liabilities
2,925
2,998
Long-term debt
10,417
8,049
Total liabilities
58,443
54,076
Commitments and contingencies (Note 13)
Equity:
Common stock, $0.0001 par value; 4,000 shares authorized; 1,136 and 1,168 shares outstanding as of
December 31, 2022 and 2021, respectively

Preferred stock, $0.0001 par value; 100 shares authorized, unissued

Treasury stock at cost, 173 and 132 shares as of December 31, 2022 and 2021, respectively
(16,079)
(11,880)
Additional paid-in-capital
18,327
17,208
Retained earnings
18,954
16,535
Accumulated other comprehensive income (loss)
(928)
(136)
Total equity
20,274
21,727
Total liabilities and equity
$
78,717
$
75,803
The accompanying notes are an integral part of these consolidated financial statements.
6


CVSHEALTH_2022_10K

Consolidated Balance Sheets
At December 31,
In millions, except per share amounts
2022
2021
Assets:

Cash and cash equivalents
$
12,945 $
9,408
Investments
2,778
3,117
Accounts receivable, net
27,276
24,431
Inventories
19,090
17,760
Assets held for sale
908

Other current assets
2,685
5,292
Total current assets
65,682
60,008
Long-term investments
21,096
23,025
Property and equipment, net
12,873
12,896
Operating lease right-of-use assets
17,872
19,122
Goodwill
78,150
79,121
Intangible assets, net
24,754
29,026
Separate accounts assets
3,228
5,087
Other assets
4,620
4,714
Total assets
$
228,275 $
232,999


COCACOLA_2017_10K

THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31,
2017

2016
(In millions except par value)

ASSETS

CURRENT ASSETS

Cash and cash equivalents
$
6,006
 $
8,555
Short-term investments
9,352

9,595
TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
15,358

18,150
Marketable securities
5,317

4,051
Trade accounts receivable, less allowances of $477 and $466, respectively
3,667

3,856
Inventories
2,655

2,675
Prepaid expenses and other assets
2,000

2,481
Assets held for sale
219

2,797
Assets held for sale discontinued operations
7,329

TOTAL CURRENT ASSETS
36,545

34,010
EQUITY METHOD INVESTMENTS
20,856

16,260
OTHER INVESTMENTS
1,096

989
OTHER ASSETS
4,560

4,248
PROPERTY, PLANT AND EQUIPMENT net
8,203

10,635
TRADEMARKS WITH INDEFINITE LIVES
6,729

6,097
BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES
138

3,676
GOODWILL
9,401

10,629
OTHER INTANGIBLE ASSETS
368

726
TOTAL ASSETS
$
87,896
 $
87,270
LIABILITIES AND EQUITY

CURRENT LIABILITIES

Accounts payable and accrued expenses
$
8,748
 $
9,490
Loans and notes payable
13,205

12,498
Current maturities of long-term debt
3,298

3,527
Accrued income taxes
410

307
Liabilities held for sale
37

710
 Liabilities held for sale discontinued operations
1,496

TOTAL CURRENT LIABILITIES
27,194

26,532
LONG-TERM DEBT
31,182

29,684
OTHER LIABILITIES
8,021

4,081
DEFERRED INCOME TAXES
2,522

3,753
THE COCA-COLA COMPANY SHAREOWNERS' EQUITY

 Common stock, $0.25 par value; Authorized 11,200 shares;
 Issued 7,040 and 7,040 shares, respectively
1,760

1,760
Capital surplus
15,864

14,993
Reinvested earnings
60,430

65,502
Accumulated other comprehensive income (loss)
(10,305)
(11,205)
Treasury stock, at cost 2,781 and 2,752 shares, respectively
(50,677)
(47,988)
EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY
17,072

23,062
EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS
1,905

158
TOTAL EQUITY
18,977

23,220
TOTAL LIABILITIES AND EQUITY
$
87,896
 $
87,270
Refer to Notes to Consolidated Financial Statements.
74


NETFLIX_2015_10K

Table of Contents
NETFLIX, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)

Year ended December 31,

2015

2014

2013
Revenues
 $
6,779,511 $
5,504,656 $
4,374,562
Cost of revenues

4,591,476
3,752,760
3,117,203
Marketing

824,092
607,186
469,942
Technology and development

650,788
472,321
378,769
General and administrative

407,329
269,741
180,301
Operating income

305,826
402,648
228,347
Other income (expense):

Interest expense

(132,716)
(50,219)
(29,142)
Interest and other income (expense)

(31,225)
(3,060)
(3,002)
Loss on extinguishment of debt

(25,129)
Income before income taxes

141,885
349,369
171,074
Provision for income taxes

19,244
82,570
58,671
Net income
 $
122,641 $
266,799 $
112,403
Earnings per share:

Basic
 $
0.29 $
0.63 $
0.28
Diluted
 $
0.28 $
0.62 $
0.26
Weighted-average common shares outstanding:

Basic

425,889
420,544
407,385
Diluted

436,456
431,894
425,327
See accompanying notes to consolidated financial statements.
38


CORNING_2022_10K

Consolidated Balance Sheets
Corning Incorporated and Subsidiary Companies

December 31,

(in millions, except share and per share amounts)

2022

2021

Assets

Current assets:

Cash and cash equivalents
 $
1,671 $
2,148
Trade accounts receivable, net of doubtful accounts - $40 and $42

1,721
2,004
Inventories (Note 5)

2,904
2,481
Other current assets (Notes 10 and 14)

1,157
1,026
Total current assets

7,453
7,659

Property, plant and equipment, net of accumulated depreciation - $14,147 and $13,969 (Note 8)

15,371
15,804
Goodwill, net (Note 9)

2,394
2,421
Other intangible assets, net (Note 9)

1,029
1,148
Deferred income taxes (Note 7)

1,073
1,066
Other assets (Notes 10 and 14)

2,179
2,056

Total Assets
 $
29,499 $
30,154

Liabilities and Equity

Current liabilities:

Current portion of long-term debt and short-term borrowings (Note 11)
 $
224 $
55
Accounts payable

1,804
1,612
Other accrued liabilities (Notes 10 and 13)

3,147
3,139
Total current liabilities

5,175
4,806

Long-term debt (Note 11)

6,687
6,989
Postretirement benefits other than pensions (Note 12)

407
622
Other liabilities (Notes 10 and 13)

4,955
5,192
Total liabilities

17,224
17,609


AMCOR_2023Q4_EARNINGS

Twelve Months Ended June 30, 2022
Twelve Months Ended June 30, 2023
($ million)
EBITDA
EBIT
Net
Income
EPS
(Diluted
US
cents)(1)
EBITDA
EBIT
Net
Income
EPS
(Diluted
US
cents)(1)
Net income attributable to Amcor

805

805

805

52.9

1,048

1,048

1,048

70.5
Net income attributable to non-controlling
interests

10

10

10

10
Tax expense

300

300

193

193
Interest expense, net

135

135

259

259
Depreciation and amortization

579

569
EBITDA, EBIT, Net income and EPS

1,829

1,250

805

52.9

2,080

1,510

1,048

70.5
2019 Bemis Integration Plan

37

37

37

2.5

Net loss on disposals(2)

10

10

10

0.7

Impact of hyperinflation

16

16

16

1.0

24

24

24

1.9
Property and other losses, net(3)

13

13

13

0.8

2

2

2

0.1
Russia-Ukraine conflict impacts(4)

200

200

200

13.2

(90)
(90)
(90)
(6.0)
Pension settlements

8

8

8

0.5

5

5

5

0.3
Other

4

4

4

0.3

(3)
(3)
(3)
(0.3)
Amortization of acquired intangibles (5)

163

163

10.7

160

160

10.8
Tax effect of above items

(32)
(2.1)

(57)
(4.0)
Adjusted EBITDA, EBIT, Net income and EPS

2,117

1,701

1,224

80.5

2,018

1,608

1,089

73.3


CVSHEALTH_2022_10K

Consolidated Statements of Operations
For the Years Ended December 31,
In millions, except per share amounts
2022
2021
2020
Revenues:

Products
$
226,616 $
203,738 $
190,688
Premiums
85,330
76,132
69,364
Services
9,683
11,042
7,856
Net investment income
838
1,199
798
Total revenues
322,467
292,111
268,706
Operating costs:
Cost of products sold
196,892
175,803
163,981
Benefit costs
71,281
64,260
55,679
Opioid litigation charges
5,803

Loss on assets held for sale
2,533

Store impairments

1,358

Goodwill impairment

431

Operating expenses
38,212
37,066
35,135
Total operating costs
314,721
278,918
254,795
Operating income
7,746
13,193
13,911
Interest expense
2,287
2,503
2,907
Loss on early extinguishment of debt

452
1,440
Other income
(169)
(182)
(206)
Income before income tax provision
5,628
10,420
9,770
Income tax provision
1,463
2,522
2,569
Income from continuing operations
4,165
7,898
7,201
Loss from discontinued operations, net of tax

(9)
Net income
4,165
7,898
7,192


PEPSICO_2022_10K

Table of Contents
Consolidated Statement of Cash Flows
PepsiCo, Inc. and Subsidiaries
Fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020
(in millions)
2022
2021
2020
Operating Activities
Net income
$
8,978 $
7,679 $
7,175
Depreciation and amortization
2,763
2,710
2,548
Gain associated with the Juice Transaction
(3,321)

Impairment and other charges
3,618

Operating lease right-of-use asset amortization
517
505
478
Share-based compensation expense
343
301
264
Restructuring and impairment charges
411
247
289
Cash payments for restructuring charges
(224)
(256)
(255)
Acquisition and divestiture-related charges
80
(4)
255
Cash payments for acquisition and divestiture-related charges
(46)
(176)
(131)
Pension and retiree medical plan expenses
419
123
408
Pension and retiree medical plan contributions
(384)
(785)
(562)
Deferred income taxes and other tax charges and credits
(873)
298
361
Tax expense related to the TCJ Act
86
190

Tax payments related to the TCJ Act
(309)
(309)
(78)
Change in assets and liabilities:
Accounts and notes receivable
(1,763)
(651)
(420)
Inventories
(1,142)
(582)
(516)
Prepaid expenses and other current assets
118
159
26
Accounts payable and other current liabilities
1,842
1,762
766
Income taxes payable
57
30
(159)
Other, net
(359)
375
164
Net Cash Provided by Operating Activities
10,811
11,616
10,613
Investing Activities
Capital spending
(5,207)
(4,625)
(4,240)
Sales of property, plant and equipment
251
166
55
Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of
intangible and other assets
(873)
(61)
(6,372)
Proceeds associated with the Juice Transaction
3,456

Other divestitures, sales of investments in noncontrolled affiliates and other assets
49
169
6
Short-term investments, by original maturity:
More than three months - purchases
(291)

(1,135)
More than three months - maturities
150
1,135

Three months or less, net
24
(58)
27
Other investing, net
11
5
40
Net Cash Used for Investing Activities
(2,430)
(3,269)
(11,619)
(Continued on following page)
62


AES_2022_10K

Consolidated Balance Sheets
December 31, 2022 and 2021
2022
2021
(in millions, except share and per share data)
ASSETS
CURRENT ASSETS
Cash and cash equivalents
$
1,374
$
943
Restricted cash
536
304
Short-term investments
730
232
Accounts receivable, net of allowance for doubtful accounts of $5 and $5, respectively
1,799
1,418
Inventory
1,055
604


ULTABEAUTY_2023Q4_EARNINGS

Share Repurchase Program
During the fourth quarter of fiscal 2022, the Company repurchased 722,457 shares of its
common stock at a cost of $328.1 million. During fiscal 2022, the Company repurchased 2.2
million shares of its common stock at a cost of $900.0 million. As of January 28, 2023, $1.1
billion remained available under the $2.0 billion share repurchase program announced in
March 2022.


PEPSICO_2022_10K

Forward-Looking Statements
This Annual Report on Form 10-K contains statements reflecting our views about our future performance that constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (Reform Act).
Statements that constitute forward-looking statements within the meaning of the Reform Act are generally identified through the
inclusion of words such as aim, anticipate, believe, drive, estimate, expect, expressed confidence, forecast,
future, goal, guidance, intend, may, objective, outlook, plan, position, potential, project, seek,
should, strategy, target, will or similar statements or variations of such words and other similar expressions. All
statements addressing our future operating performance, and statements addressing events and developments that we expect or
anticipate will occur in the future, are forward-looking statements within the meaning of the Reform Act. These forward-looking
statements are based on currently available information, operating plans and projections about future events and trends. They
inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such
forward-looking statement. These risks and uncertainties include, but are not limited to, those described in Item 1A. Risk
Factors and Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations Our Business
 Our Business Risks. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak
only as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of
new information, future events or otherwise. The discussion of risks in this report is by no means all-inclusive but is designed to
highlight what we believe are important factors to consider when evaluating our future performance.
PART I
Item 1. Business.
When used in this report, the terms we, us, our, PepsiCo and the Company mean PepsiCo, Inc. and its consolidated
subsidiaries, collectively. Certain terms used in this Annual Report on Form 10-K are defined in the Glossary included in Item 7.
of this report.
Company Overview
We were incorporated in Delaware in 1919 and reincorporated in North Carolina in 1986. We are a leading global beverage and
convenient food company with a complementary portfolio of brands, including Lays, Doritos, Cheetos, Gatorade, Pepsi-Cola,
Mountain Dew, Quaker and SodaStream. Through our operations, authorized bottlers, contract manufacturers and other third
parties, we make, market, distribute and sell a wide variety of beverages and convenient foods, serving customers and consumers
in more than 200 countries and territories.
Our Operations
We are organized into seven reportable segments (also referred to as divisions), as follows:
1) Frito-Lay North America (FLNA), which includes our branded convenient food businesses in the United States and
Canada;
2) Quaker Foods North America (QFNA), which includes our branded convenient food businesses, such as cereal, rice, pasta
and other branded food, in the United States and Canada;
3) PepsiCo Beverages North America (PBNA), which includes our beverage businesses in the United States and Canada;
4) Latin America (LatAm), which includes all of our beverage and convenient food businesses in Latin America;
5) Europe, which includes all of our beverage and convenient food businesses in Europe;


MGMRESORTS_2020_10K

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)

Year Ended December 31,

2020

2019

2018

Revenues

Casino
$
2,871,720
$
6,517,759
$
5,753,150
Rooms

830,382

2,322,579

2,212,573
Foodandbeverage

696,040

2,145,247

1,959,021
Entertainment,retailandother

518,991

1,477,200

1,412,860
Reimbursedcosts

244,949

436,887

425,492

5,162,082

12,899,672

11,763,096
Expenses

Casino

1,701,783

3,623,899

3,199,775
Rooms

419,156

829,677

791,761
Foodandbeverage

674,118

1,661,626

1,501,868
Entertainment,retailandother

412,705

1,051,400

999,979
Reimbursedcosts

244,949

436,887

425,492
Generalandadministrative

2,122,333

2,101,217

1,764,638
Corporateexpense

460,148

464,642

419,204
Preopeningandstart-upexpenses

84

7,175

151,392
Propertytransactions,net

93,567

275,802

9,147
GainonREITtransactions,net

(1,491,945)

(2,677,996)

Depreciationandamortization

1,210,556

1,304,649

1,178,044

5,847,454

9,078,978

10,441,300
Income from unconsolidated affiliates

42,938

119,521

147,690
Operating income (loss)

(642,434)

3,940,215

1,469,486
Non-operating income (expense)

Interestexpense,netofamountscapitalized

(676,380)

(847,932)

(769,513)
Non-operatingitemsfromunconsolidatedaffiliates

(103,304)

(62,296)

(47,827)
Other,net

(89,361)

(183,262)

(18,140)

(869,045)

(1,093,490)

(835,480)
Income (loss) before income taxes

(1,511,479)

2,846,725

634,006
Benefit(provision)forincometaxes

191,572

(632,345)

(50,112)
Net income (loss)

(1,319,907)

2,214,380

583,894
Less:Net(income)lossattributabletononcontrollinginterests

287,183

(165,234)

(117,122)
Net income (loss) attributable to MGM Resorts International
$
(1,032,724)
$
2,049,146
$
466,772

Earnings (loss) per share

Basic
$
(2.02)
$
3.90
$
0.82
Diluted
$
(2.02)
$
3.88
$
0.81
Weighted average common shares outstanding

Basic

494,152

524,173

544,253
Diluted

494,152

527,645

549,536

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

63


ULTABEAUTY_2023_10K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-K
 Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the fiscal year ended January 28, 2023
or
 Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from _____________ to _____________
Commission File Number: 001-33764
ULTA BEAUTY, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
38-4022268
(I.R.S. Employer
Identification No.)
1000 Remington Blvd., Suite 120
Bolingbrook, Illinois
(Address of principal executive offices)
60440
(Zip code)
Registrants telephone number, including area code: (630) 410-4800
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Common stock, par value $0.01 per share
ULTA
The NASDAQ Global Select Market
Securities registered pursuant to Section 12(g) of the Act: None


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)
(Loss)/income from operating investments, net
(16)
210
9
General and administrative expense
(4,187)
(4,157)
(4,817)
Research and development expense, net
(2,852)
(2,249)
(2,476)
Gain on dispositions, net
6
277
202
Loss from operations
(3,547)
(2,902)
(12,767)
Other income, net
1,058
551
447
Interest and debt expense
(2,533)
(2,682)
(2,156)
Loss before income taxes
(5,022)
(5,033)
(14,476)
Income tax (expense)/benefit
(31)
743
2,535