Mar. 29, 2020 Jun. 28, 2020
Revenues 5.995,70 4.222,10
Product and Distribution Costs 1.997,70 1.484,00
Store operating expenses 2.721,40
... [Show More] 2.537,80
Other operating expenses 95,00 133,60
Depreciation and amortization expenses 356,30 361,00
General and administrative expenses 406,50 399,90
Restructuring, Settlement and Impairment Provisions (0,70) 78,10
Total operating expenses 5.576,20 4.994,40
Income from equity investees 67,90 68,40
Operating income/(loss) 487,40 (703,90)
Gain (Loss) on Disposition of Business - -
Interest income and other, net 2,00 12,70
Interest expense (99,20) (120,80)
Earnings/(Loss) from Continuing Operations before income taxes 390,20 (812,00)
Income Tax Expense (Benefit) 65,40 (133,90)
Net earnings/(loss) including noncontrolling interests 324,80 (678,10)
PROFORMA INCOME STATEMENT
Condensed Consolidated Statements of Earnings - USD ($) shares
in Millions, $ in Millions
3 Months Ended
Sept. 30, 2020
2.973,15
1.102,40
1.787,09
133,60
365,76
393,41
78,10
3.860,35
68,90
(818,30)
80,65
(147,10)
(884,76)
(145,90)
(738,86)
TEMENT
nths Ended
Condensed Consolidated Balance Sheets - USD ($) $ in Millions
Current assets:
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Inventories
Prepaid expenses and other current assets
Total current assets
Long-term investments
Equity Investments
Property, plant and equipment, net
Operating Lease, Right-of-Use Asset
Deferred income taxes, net
Other long-term assets
Other intangible assets
Goodwill
TOTAL ASSETS
Current liabilities:
Accounts payable
Accrued liabilities
Employee-related Liabilities, Current
Accrued Income Taxes, Current
Operating Lease, Liability, Current
Deferred Revenue, Current
Short-term Debt
Current portion of long-term debt
Total current liabilities
Long-term debt
Operating Lease, Liability, Noncurrent
Deferred Tax and Other Liabilities, Noncurrent
Total liabilities
Shareholders' equity:
Common stock ($0.001 par value) — authorized, 2,400.0 shares; issued and outstanding, 1,457.2 shares and 1,460.5 shares, reAdditional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Total shareholders' equity
Noncontrolling interests
Total equity
TOTAL LIABILITIES AND EQUITY
Authorized shares of common stock
Par value of common stock
Commercial Paper [Member]
Current liabilities:
Short-term Debt
PROFORMA BALANCE SHEET
Mar. 29, 2020 Jun. 28, 2020
2.572,30 3.965,90
52,90 229,90
941,00 881,10
1.492,20 1.583,80
691,50 920,30
5.749,90 7.581,00
198,80 223,40
420,90 426,10
6.387,00 6.295,60
8.260,80 8.214,00
1.709,70 1.740,00
580,10 550,80
678,70 599,60
3.493,00 3.510,10
27.478,90 29.140,60
997,70 860,80
1.539,00 1.511,70
596,10 652,10
86,70 90,90
1.253,50 1.237,10
1.436,30 1.463,30
1.107,10 936,50
1.249,40 1.249,60
8.265,80 8.002,00
11.658,70 14.645,60
7.650,40 7.653,60
751,40 6.642,60
35.011,80 821,10
37.764,90
1,20
41,10 1,20
(7.050,60) 115,40
(521,80) (8.208,30)
(7.530,10) (529,90)
(2,80) (8.621,60)
(7.532,90) (2,70)
27.478,90 (8.624,30)
2.400.000.000,00 29.140,60
0,00
296,50
1.100,00
NCE SHEET
EXAMPLE LINE ITEM
Q1
2020
Q1,
20NN
Interest Expense $ (25,90) $ (75,00)
Assignment LINE ITEM
Q1,
2020
Q2,
2020
Revenues 5995,7 4222,1
Product and Distribution Costs 1997,7 1484
Store operating expenses 2721,4 2537,8
Other operating expenses 95 133,6
Depreciation and amortization expenses 356,3 361
General and administrative expenses 406,5 399,9
Restructuring, Settlement and Impairment Provisions -0,7 78,1
Total operating expenses 5576,2 4994,4
Income from equity investees 67,9 68,4
Operating income/(loss) 487,4 -703,9
Gain (Loss) on Disposition of Business 0 0
Interest income and other, net 2 12,7
Interest expense -99,2 -120,8
Earnings/(Loss) from Continuing Operations before income taxes 390,2 -812
Income Tax Expense (Benefit) 65,4 -133,9
Net earnings/(loss) including noncontrolling interests 324,8 -678,1
VARIANCE ANALYSIS
AMOUNT
PERCENT
VARIANCE POTENTIAL RATIONALE FOR VARIANCE
$ (49,10) 189,58%
Due to raising interest rates, the company was able to earn more money
from interest bearing investments.
AMOUNT
PERCENT
VARIANCE POTENTIAL RATIONALE FOR VARIANCE
-1773,6 -29,58% Decrease in sales due to COVID
-513,7 -25,71% Variable cost to revenue so a decrease in revenue would be a decrease in this cost
-183,6 -6,75% Less variable than above with more fixed costs but still decrease due to drop in revenue
38,6 40,63% Fixed cost and incurred more with less sales, possible increase in wages for COVID premiums4,7 1,32% Fixed additional PPE increasing deprecation costs
-6,6 -1,62% Fixed mainly salary positions
78,8 -11257,14% Potential costs for layoffs due to COVID
-581,8 -10,43%
0,5 0,74% Fixed cost independent of revenue
-1191,3 -244,42%
0 #DIV/0!
10,7 535,00% Company earned more money from interest bearing investments
-21,6 21,77% Company earned more money from interest bearing investments
-1202,2 -308,10%
-199,3 -304,74% Negative profit so tax benefit
-1002,9 -308,77%
RIANCE ANALYSIS
decrease in this cost
se due to drop in revenue
e in wages for COVID premiums
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