TAP FY 2009 Earnings Report — Molson Coors Beverage Company Revenue & Financial Results | Market Cap Arena

Molson Coors Beverage CompanyTAP

FY 2009 Earnings

Reported February 19, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$3.0B	—	$4.8B	—	-36.5%
Op. Income	$754M	—	$622M	—	21.2%
Gross Margin	43.1%	—	40.5%	—	2.6pp
Net Margin	23.8%	—	8.1%	—	15.6pp
EPS (Diluted)	$3.87	—	$2.04	—	89.7%
Free Cash Flow	$700M	—	$181M	—	286.5%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$901M
Other Expenses	-$349M
Operating Expenses	$552M
Cost & Expenses	$2.3B
OPERATING INCOME	$754M
Interest Income	$11M
Interest Expense	$91M
Other Income/Expenses	-$37M
INCOME BEFORE TAX	$718M
Income Tax Expense	-$15M
Net Income from Continuing Ops	$732M
Net Income from Discontinued Ops	$0
Other Adjustments	-$9M
NET INCOME	$720M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$720M
D&A	$208M
EBIT	$814M
EBITDA	$1.0B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$901M
Other Expenses	-$349M
Operating Expenses	$552M
Cost & Expenses	$2.3B
OPERATING INCOME	$754M
Interest Income	$11M
Interest Expense	$91M
Other Income/Expenses	-$37M
INCOME BEFORE TAX	$718M
Income Tax Expense	-$15M
Net Income from Continuing Ops	$732M
Net Income from Discontinued Ops	$0
Other Adjustments	-$9M
NET INCOME	$720M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$720M
D&A	$208M
EBIT	$814M
EBITDA	$1.0B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$723M
Depreciation & Amortization	$187M
Stock-Based Compensation	$23M
Deferred Income Tax	$128M
Other Non-Cash Items	-$132M
Change in Working Capital	-$106M
OPERATING CASH FLOW	$824M
Capital Expenditure	-$125M
Acquisitions (Net)	$16M
Purchases of Investments	-$66M
Sales/Maturities of Investments	$32M
Other Investing Activities	-$52M
NET CASH FROM INVESTING	-$194M
Net Debt Issuance	-$9M
Common Stock Repurchased	$0
Common Dividends Paid	-$170M
Other Financing Activities	$62M
NET CASH FROM FINANCING	-$117M
FREE CASH FLOW	$700M
Net Change in Cash	$518M

Balance Sheet

Item	Amount
Cash & Equivalents	$734M
Short-Term Investments	$0
Net Receivables	$717M
Inventory	$236M
Other Current Assets	$61M
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$1.3B
Goodwill	$1.5B
Intangible Assets	$4.5B
Long-Term Investments	$2.6B
Tax Assets	$178M
Other Non-Current Assets	$165M
TOTAL NON-CURRENT ASSETS	$10.3B
TOTAL ASSETS	$12.0B
Account Payables	$193M
Short-Term Debt	$300M
Deferred Revenue	$0
Other Current Liabilities	$325M
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$533M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$3.3B
TOTAL LIABILITIES	$4.9B
Common Stock	$2M
Additional Paid-In Capital	$3.4B
Retained Earnings	$2.7B
Treasury Stock	$0
Accum. Other Comp. Income	$21M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.1B
Minority Interest	$13M
TOTAL EQUITY	$7.1B
TOTAL LIABILITIES & EQUITY	$12.0B
Total Debt	$1.7B
Net Debt	$979M