ACCT 310 Central Washington University Financial Statement Analysis Paper In this assignment, you will be studying the One-Stop Reports you generated on th

ACCT 310 Central Washington University Financial Statement Analysis Paper In this assignment, you will be studying the One-Stop Reports you generated on three public companies.

The focus will be on the company that you generated a full financial report for.

Look at the financial statements for specific details, and the One-Stop reports for the general details.

If you did not complete the first assignment, you will need to complete it now to do this assignment, but you will not receive full credit for the first assignment.

You will type a 3-4 page report (single spaced) in Word and submit it here. (It can be longer, just not shorter) If you work in a group, you will be graded much harder because the assignment will have more resources and it should be faultless. The Rubric for this assignment is included. Please read it carefully.

In Section One of this assignment, you will focus on comparing trends for each of these three companies for the following items:

Total Receivables
Total Inventory
Depreciation, Amortization and Depletion
Property, Plant & Equipment

These are used in CH 11 “Activity Measures” pg 398.

You are comparing your selected specific company against itself in the past, and its competitors. For each item you should ask yourself:

Did it go up or down over time?
What does this trend potentially mean?
Is this company performing better with respect to this item than in the past?
Is this company performing better than its competitors with respect to this line item?
Is there any connection between receivables and inventory?
Is there any connection between PP&E and depreciation?

Basic Trend Information

Common Successes and Mistakes on Assignment.docx

Actions

In Section Two of this assignment, you will analyze two ratios from each of the following ( a minimum of 8 ratios):

Financial Strength
Efficiency
Profitability
Management Effectiveness (ROA and ROE) Debt vs Equity Financing.docxActions

(These areas are broken out specifically for you in the One-Stop Reports. Each area has many options to choose from, except Management Effectiveness. There are two ratios for that. Return on Assets and Return on Equity.)

Is the company performing better or worse than it did in the past? How do you know this?
What does this trend potentially mean?
Is this company performing better than its competitors with respect to this set of ratios?
How does the company compare to the Industry Averages?
Does any ratio stand out? Why?

The assignment should have:

Your Name
ACCT 310 Spring 2020
Financial Statement Analysis

either at the top of the page or entered as a Header or Footnote.

Here are resources to help you create charts or graphs to use in your assignment.

301 Financial Statement Project.docx

Financial Statement Analysis Example.xlsx

Do not use this as an example of EXACTLY what to say. Your paper will be very specific to the companies you are analyzing. ONESTOP REPORT
Wynn Resorts, Limited
10 MAY 2020
Table of Contents
ANNUAL BALANCE (STANDARDIZED)
ANNUAL INCOME (STANDARDIZED)
ANNUAL RATIOS
RATIO COMPARISONS
Except for share items (millions) and per share items (actual units) Financials In: USD
Annual Balance (Standardized)
Millions
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
UpdateType/Date
Filed
28-Feb-2020
Filed
28-Feb-2020
Filed
28-Feb-2020
Filed
28-Feb-2019
Filed
28-Feb-2018
Filed Currency
USD
USD
USD
USD
USD
Exchange Rate
1
1
1
1
1
Auditor
Ernst & Young LLP
Ernst & Young LLP
Ernst & Young LLP
Ernst & Young LLP
Ernst & Young LLP
Auditor Opinion
Unqualified with
Explanation
Unqualified with
Explanation
Unqualified
Unqualified
Unqualified
Cash
1,265.5
1,455.7
–
–
–
Cash Equivalents
1,086.4
759.3
–
–
–
Cash and Cash Equivalents
2,351.9
2,215.0
2,804.5
2,453.1
2,080.1
–
–
166.8
173.4
115.3
2,351.9
2,215.0
2,971.2
2,626.6
2,195.4
346.4
276.6
224.1
219.0
187.9
Period Length
Short-Term Investments
Cash, Cash Equivalents and
Short-Term Investments
Accounts Receivable
Total Receivables
346.4
276.6
224.1
219.0
187.9
Total Inventory
88.5
66.6
71.6
91.5
74.5
Prepaid Assets
69.5
83.1
156.8
53.3
48.0
2,856.3
2,641.4
3,423.8
2,990.4
2,505.8
Land and Improvements
1,246.7
1,454.5
1,167.8
1,150.9
1,121.2
Buildings and
Improvements
9,367.2
7,707.5
7,582.6
7,623.1
3,975.4
Machinery and Equipment
Total Current Assets
3,043.1
2,399.0
2,370.8
2,361.2
2,004.4
Construction in Progress
477.3
1,912.8
1,016.2
299.7
3,217.1
Other
Property/Plant/Equipment
452.9
–
–
–
–
Property/Plant/Equipment Gross
14,587.3
13,473.8
12,137.4
11,434.9
10,318.1
Accumulated Depreciation
-4,510.5
-4,087.9
-3,638.7
-3,175.3
-2,840.6
10,076.8
9,385.9
8,498.8
8,259.6
7,477.5
Property/Plant/Equipment Net
Other Intangible Assets
146.4
222.5
123.7
113.6
111.0
146.4
222.5
123.7
113.6
111.0
Investments in Associates at
Cost
–
–
–
–
0.7
Long-Term Equity
Investments
–
–
–
–
0.7
Investments in Financial
Assets
–
–
160.7
128.0
136.3
–
–
160.7
128.0
137.0
Goodwill and Other Intangible
Assets
Long-Term Investments
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
562.3
736.5
240.5
–
–
Non-Current Deferred Assets
562.3
736.5
240.5
–
–
Other Long-Term Assets
229.5
230.0
234.3
461.9
227.9
Total Non-Current Assets
11,014.9
10,574.9
9,258.0
8,963.2
7,953.4
Total Assets
13,871.3
13,216.3
12,681.7
11,953.6
10,459.2
Accounts Payable
262.4
321.8
285.4
298.5
267.8
Total Tax Payable
168.0
247.3
211.6
162.7
98.6
430.5
569.1
497.0
461.2
366.4
73.1
61.6
94.7
98.1
98.1
Accrued Expenses
224.1
181.6
180.5
190.0
161.7
Current Debt
323.9
12.0
62.7
–
–
323.9
12.0
62.7
–
–
Customer Advances
824.3
955.5
1,049.6
599.6
436.4
Current Deferred Liabilities
824.3
955.5
1,049.6
599.6
436.4
–
–
–
–
16.0
Total Current Liabilities
1,982.9
1,882.1
1,930.3
1,416.3
1,110.2
Long-Term Debt
10,080.0
9,411.1
9,565.9
10,125.4
9,149.7
Long-Term Capital Lease
Obligation
159.2
–
–
–
–
Long-Term Debt and Capital
Lease Obligation
10,239.2
9,411.1
9,565.9
10,125.4
9,149.7
–
–
–
66.6
36.4
–
–
–
66.6
36.4
Other Long-Term Liabilities
107.8
108.3
107.2
87.5
141.1
Total Non-Current Liabilities
10,346.9
9,519.4
9,673.1
10,279.4
9,327.1
Total Liabilities
12,329.8
11,401.5
11,603.4
11,695.7
10,437.3
Common Stock
1.2
1.2
1.2
1.2
1.1
Capital Stock
1.2
1.2
1.2
1.2
1.1
641.8
921.8
635.1
95.1
55.3
2,512.7
2,457.1
1,497.9
1,226.9
983.1
-1,411.0
-1,344.0
-1,184.5
-1,166.7
-1,152.7
-1.7
-2.0
-1.8
1.5
1.1
1,743.0
2,034.1
947.8
157.9
-112.0
-201.6
-219.3
130.5
99.9
133.8
1,541.5
1,814.8
1,078.4
257.9
21.8
Deferred Taxes – NonCurrent Assets
Payables
Interest Payable
Current Debt and Capital Lease
Obligation
Other Current liabilities
Deferred Taxes – NonCurrent Liabilities
Non-Current Deferred
Liabilities
Retained Earnings
(Accumulated Deficit)
Additional Paid-In Capital
Treasury Stock
Gains (Losses) Not A ecting
Retained Earnings
Stockholders’ Equity
Minority Interest
Total Equity
Total Liabilities and
Shareholders’ Equity
Net Tangible Assets
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
13,871.3
13,216.3
12,681.7
11,953.6
10,459.2
1,596.6
1,811.6
824.1
44.4
-223.0
Working Capital
873.5
759.3
1,493.5
1,574.1
1,395.6
Invested Capital
12,146.9
11,457.2
10,576.5
10,283.3
9,037.7
159.2
–
–
–
–
10,563.0
9,423.1
9,628.6
10,125.4
9,149.7
Capital Lease Obligations
Total Debt
Net Debt
8,052.0
7,208.1
6,824.2
7,672.2
7,069.6
11,823.0
11,445.3
10,513.8
10,283.3
9,037.7
Common Stock Equity
1,743.0
2,034.1
947.8
157.9
-112.0
Total Common Shares
Outstanding
107.4
107.2
103.0
101.8
101.6
15.5
14.9
13.4
13.2
13.0
122.8
122.1
116.4
115.0
114.6
Tangible Book Value
1,596.6
1,811.6
824.1
44.4
-223.0
Employees
30,200
26,000
25,200
24,600
20,800
Total Capitalization
Treasury Shares Number
Shares Issued
© 2020 Morningstar. All Rights Reserved.
Published by Dun & Bradstreet, Inc., May 2020.
BACK TO TABLE OF CONTENTS
Except for share items (millions) and per share items (actual units) Financials In: USD
Annual Income (Standardized)
Millions
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
Period Length
12 Months
12 Months
12 Months
12 Months
12 Months
UpdateType/Date
Filed
28-Feb-2020
Filed
28-Feb-2020
Filed
28-Feb-2020
Filed
28-Feb-2019
Filed
28-Feb-2018
Filed Currency
USD
USD
USD
USD
USD
Exchange Rate
1
1
1
1
1
Auditor
Ernst & Young LLP
Ernst & Young LLP
Ernst & Young LLP
Ernst & Young LLP
Ernst & Young LLP
Auditor Opinion
Unqualified with
Explanation
Unqualified with
Explanation
Unqualified
Unqualified
Unqualified
6,611.1
6,717.7
6,070.2
4,345.8
4,418.6
6,611.1
6,717.7
6,070.2
4,345.8
4,075.9
Operating Revenue
Total Revenue
Cost of Revenue
4,067.1
4,086.3
3,727.2
2,653.5
2,530.4
2,544.0
2,631.4
2,343.0
1,692.3
1,545.5
Other General and
Administrative Expenses
896.7
761.4
685.5
548.1
464.8
General and Administrative
Expense
896.7
761.4
685.5
548.1
464.8
896.7
761.4
685.5
548.1
464.8
624.9
550.6
552.4
404.7
322.6
624.9
550.6
552.4
404.7
322.6
21.9
6.5
-6.7
8.2
11.1
102.0
53.5
26.7
154.7
77.6
1,645.5
1,372.0
1,257.8
1,115.8
876.2
898.6
1,259.4
1,085.1
576.5
669.3
Interest Income – NonOperating
24.4
29.9
31.2
13.5
7.2
Interest Expense – NonOperating
414.0
381.8
388.7
289.4
300.9
Net Non-Operating Interest
Income (Expense)
-389.6
-352.0
-357.5
-275.8
-293.7
Gross Profit
Selling, General and
Administrative Expenses
Depreciation and
Amortization
Depreciation, Amortization and
Depletion
Provision for Doubtful
Accounts
Other Operating Expense
Total Operating Expense
Operating Income
Other Special Charges
Special Income (Charges)
Gain on Sale of Security
Earnings from Equity
Interest
32.7
523.7
84.9
54.8
136.5
-32.7
-523.7
-84.9
-54.8
-136.5
-3.2
-4.5
-1.1
0.4
-5.3
–
–
–
–
1.8
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
15.2
-73.4
-81.4
64.3
53.6
Other Income (Expense)
-20.8
-601.6
-167.4
9.9
-86.4
Income Before Tax
488.2
305.7
560.3
310.6
289.2
Total Income Tax
176.8
-497.3
-329.0
8.1
7.7
Income A er Tax
311.4
803.1
889.3
302.5
281.5
Net Income from Continuing
Operations
311.4
803.1
889.3
302.5
281.5
-188.4
-230.7
-142.1
-60.5
-86.2
Net Income
123.0
572.4
747.2
242.0
195.3
Net Income Available to
Common Stockholders
123.0
572.4
747.2
242.0
195.3
Basic EPS
1.15
5.37
7.32
2.39
1.93
Basic EPS from Continuing
Operations
1.15
5.37
7.32
2.39
1.93
Diluted EPS
1.15
5.35
7.28
2.38
1.92
Diluted EPS from Continuing
Operations
1.15
5.35
7.28
2.38
1.92
Basic Average Shares
106.7
106.5
102.1
101.4
101.2
Diluted Average Shares
107.0
107.0
102.6
101.9
101.7
24.4
29.9
31.2
13.5
7.2
Other Non-Operating
Income (Expenses)
Minority Interest
Interest Income
Interest Expense
414.0
381.8
388.7
289.4
300.9
-389.6
-352.0
-357.5
-275.8
-293.7
Net Income Including NonControlling Interests
311.4
803.1
889.3
302.5
281.5
Net Income from Continuing
and Discontinued Operations
123.0
572.4
747.2
242.0
195.3
Normalized Income
145.9
958.0
798.8
294.9
333.3
Basic EPS from Continuing &
Discontinued Operations
1.15
5.37
7.32
2.39
1.93
Diluted EPS from Continuing &
Discontinued Operations
1.15
5.35
7.28
2.38
1.92
Dividends per Share
3.75
2.75
2.00
2.00
3.00
Net Income Before Extraord
Items
123.0
572.4
747.2
242.0
195.3
Total Unusual Items
-36.0
-528.2
-86.0
-54.4
-141.8
Total Unusual Items Excluding
Goodwill
-36.0
-528.2
-86.0
-54.4
-141.8
36.20%
27.00%
40.00%
2.60%
2.70%
-13.0
-142.6
-34.4
-1.4
-3.8
Basic Normalized EPS
1.36
8.99
7.83
2.91
3.29
Diluted Normalized EPS
1.36
8.95
7.78
2.90
3.28
EBITDA
1,527.1
1,238.2
1,501.3
1,004.7
912.8
Normalized EBITDA
1,563.1
1,766.4
1,587.3
1,059.1
1,054.6
Net Interest Income
Tax Rate
Tax E ect of Unusual Items
Reconciled Cost of Revenue
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
4,067.1
4,086.3
3,727.2
2,653.5
2,530.4
Reconciled Depreciation
624.9
550.6
552.4
404.7
322.6
EBIT
902.2
687.6
948.9
600.0
590.2
© 2020 Morningstar. All Rights Reserved.
Published by Dun & Bradstreet, Inc., May 2020.
BACK TO TABLE OF CONTENTS
Annual Ratios
Except for share items (millions) and per share items (actual units) Financials In: USD
Millions
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
Current Ratio
1.44
1.40
1.77
2.11
2.26
Quick/Acid Test Ratio
1.36
1.32
1.66
2.01
2.15
Financial Strength
Working Capital
873.5
759.3
1,493.5
1,574.1
1,395.6
Long-Term Debt/Equity
5.87
4.63
10.09
64.11
–
Total Debt/Equity
6.06
4.63
10.16
64.11
–
Long-Term Debt/Total Capital
0.85
0.82
0.91
0.98
–
Total Debt/Total Capital
0.89
0.82
0.92
0.98
1.01
Interest Coverage
2.18
1.80
2.44
2.07
1.96
Payout Ratio
56.73%
43.10%
55.40%
94.34%
208.33%
E ective Tax Rate
36.22%
–
–
2.62%
2.67%
11,823.0
11,445.3
10,513.8
10,283.3
9,037.7
0.49
0.52
0.49
0.39
0.42
52.43
59.11
45.68
31.96
34.49
6.96
6.18
7.99
11.42
10.58
Receivables Turnover
21.22
26.83
27.40
21.36
19.14
Days Receivables Outstanding
17.20
13.60
13.32
17.09
19.07
Total Capitalization
E iciency
Asset Turnover
Inventory Turnover
Days In Inventory
Revenue/Employee
218,911
258,372
240,879
176,658
195,956
Operating Income/Employee
29,755
48,437
43,061
23,434
32,180
EBITDA/Employee
50,567

47,623
59,575
40,841
43,884
Gross Margin
38.48%
39.17%
38.60%
38.94%
37.92%
Operating Margin
13.59%
18.75%
17.88%
13.27%
16.42%
EBITDA Margin
23.10%
18.43%
24.73%
23.12%
22.39%
EBIT Margin
Profitability
13.65%
10.24%
15.63%
13.81%
14.48%
Pretax Margin
7.38%
4.55%
9.23%
7.15%
7.10%
Net Profit Margin
1.86%
8.52%
12.31%
5.57%
4.79%
COGS/Revenue
61.52%
60.83%
61.40%
61.06%
62.08%
SG&A Expense/Revenue
13.56%
11.33%
11.29%
12.61%
11.40%
Return on Assets
0.91%
4.42%
6.07%
2.16%
2.00%
Return on Equity
6.51%
38.39%
135.14%
1,052.75%
–
0.13
-4.21
6.15
-5.45
-14.75
11.59
10.37
15.32
8.92
4.62
Management E ectiveness
Valuation
Free Cash Flow/Share
Operating Cash Flow/Share
Current Market Multiples
Market Cap/Earnings (TTM)
52.72
Market Cap/Equity (MRQ)
4.20
Market Cap/Revenue (TTM)
0.98
Market Cap/EBIT (TTM)
7.17
Market Cap/EBITDA (TTM)
4.24
Enterprise Value/Earnings (TTM)
119.61
Enterprise Value/Equity (MRQ)
9.53
Enterprise Value/Revenue (TTM)
2.22
Enterprise Value/EBIT (TTM)
16.27
Enterprise Value/EBITDA (TTM)
9.61
© 2020 Morningstar. All Rights Reserved.
Published by Dun & Bradstreet, Inc., May 2020.
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Ratio Comparisons
Ratio Comparisons as of 01-May-2020
Traded:
NASDAQ: WYNN
Industry:
Resorts & Casinos
Sector:
Consumer Cyclical
Company
Industry
Sector
Valuation Ratios
P/E Ratio
52.34
14.47
19.46
Price/Revenue
0.97
0.99
1.17
Price/Book
3.71
2.23
3.64
Price to Cash Flow per Share
7.15
6.40
0.71
–
14.29
5.06
4.95%
5.26%
1.41%
326.09%
78.22%
43.88%
Quick/Acid Test Ratio
1.36
1.37
0.77
Current Ratio
1.44
1.66
1.23
Total Debt/Equity
6.06
3.00
1.54
Gross Margin
38.48%
45.18%
27.08%
EBITDA Margin (TTM)
23.10%
26.89%
13.51%
Operating Margin (TTM)
13.59%
17.57%
8.87%
7.39%
10.31%
7.53%
Price to Free Cash Flow per Share
Dividends
Dividend Yield
Payout Ratio
Financial Strength
Profitability Ratios (%)
Pretax Margin (TTM)
Net Profit Margin (TTM)
2.21%
7.89%
6.06%
E ective Tax Rate (TTM)
36.22%
13.69%
21.33%
Management E ectiveness (%)
Return on Assets (TTM)
0.91%
3.11%
5.30%
Return on Average Investment
(TTM)
3.13%
14.11%
11.31%
Return on Equity (TTM)
6.51%
15.22%
19.26%
218,910.56
173,544.41
262,290.78
Receivables Turnover (TTM)
21.22
9.26
7.53
Inventory Turnover (TTM)
52.43
13.92
5.74
0.49
0.45
0.88
E iciency
Revenue/Employee (TTM)
Asset Turnover (TTM)
© 2020 Morningstar. All Rights Reserved.
Published by Dun & Bradstreet, Inc., May 2020.
BACK TO TABLE OF CONTENTS
ONESTOP REPORT
Penn National Gaming, Inc.
10 MAY 2020
Table of Contents
ANNUAL BALANCE (STANDARDIZED)
ANNUAL INCOME (STANDARDIZED)
ANNUAL RATIOS
RATIO COMPARISONS
Except for share items (millions) and per share items (actual units) Financials In: USD
Annual Balance (Standardized)
Millions
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
UpdateType/Date
Filed
27-Feb-2020
Filed
27-Feb-2020
Filed
27-Feb-2020
Filed
28-Feb-2019
Filed
01-Mar-2018
Filed Currency
USD
USD
USD
USD
USD
Exchange Rate
1
1
1
1
1
Auditor
Deloitte & Touche
LLP
Deloitte & Touche
LLP
Deloitte & Touche
LLP
Ernst & Young LLP
Ernst & Young LLP
Auditor Opinion
Unqualified with
Explanation
Unqualified with
Explanation
Unqualified
Unqualified
Unqualified
437.4
479.6
278.0
229.5
237.0
437.4
479.6
278.0
229.5
237.0
Accounts Receivable
39.4
38.1
62.8
61.9
45.2
Other Receivables
57.0
71.9
–
–
–
Receivables Adjustments
-7.7
-3.2
–
–
–
Total Receivables
88.7
106.8
62.8
61.9
45.2
Prepaid Assets
76.7
63.0
43.8
59.7
76.8
Other Current Assets
40.0
28.2
16.5
48.2
13.5
642.8
677.6
401.0
399.3
372.5
Land and Improvements
1,879.1
3,315.0
719.4
676.8
671.2
Buildings and
Improvements
4,085.0
4,188.0
2,687.6
2,623.2
2,615.5
Machinery and Equipment
1,598.3
1,565.8
1,385.9
1,355.6
1,303.2
59.3
25.5
15.6
16.4
9.2
183.6
152.9
130.8
118.9
129.0
Other
Property/Plant/Equipment
4,837.3
–

–
–
–
Property/Plant/Equipment Gross
12,642.6
9,247.2
4,939.3
4,790.9
4,728.0
Accumulated Depreciation
-2,685.1
-2,378.4
-2,182.6
-1,970.6
-1,747.9
9,957.5
6,868.8
2,756.7
2,820.4
2,980.1
Goodwill
1,270.7
1,228.4
1,008.1
989.7
911.9
Other Intangible Assets
2,026.5
1,856.9
422.6
435.5
391.4
3,297.2
3,085.3
1,430.7
1,425.2
1,303.4
–
–
20.9
91.4
–
Investments in Associates at
Cost
128.3
128.5
148.9
156.2
168.1
Long-Term Equity
Investments
128.3
128.5
148.9
156.2
168.1
Period Length
Cash and Cash Equivalents
Cash, Cash Equivalents and
Short-Term Investments
Total Current Assets
Construction in Progress
Leases
Property/Plant/Equipment Net
Goodwill and Other Intangible
Assets
Note Receivable – Long-Term
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
Long-Term Investments
128.3
128.5
148.9
156.2
168.1
Deferred Taxes – NonCurrent Assets
–
80.6
390.9
–
–
–
80.6
390.9
–
–
Non-Current Deferred Assets
Non-Current Prepaid Assets
–
–
–
–
197.7
Other Long-Term Assets
168.7
120.2
85.7
82.1
117.0
Total Non-Current Assets
13,551.7
10,283.4
4,833.8
4,575.2
4,766.3
Total Assets
14,194.5
10,961.0
5,234.8
4,974.5
5,138.8
Accounts Payable
40.3
30.5
26.0
35.1
72.8
Total Tax Payable
103.3
105.8
69.6
60.4
57.5
143.6
136.3
95.7
95.5
130.3
13.0
15.8
13.5
6.3
7.1
528.0
472.2
250.5
200.5
199.4
Other Short-Term
Borrowings
62.9
62.1
35.6
85.6
92.1
Current Debt
62.9
62.1
35.6
85.6
92.1
Current Capital Lease
Obligation
171.1
67.8
56.2
56.6
50.5
Current Debt and Capital Lease
Obligation
234.0
129.9
91.9
142.2
142.7
–
–
92.0
98.2
85.4
905.6
738.4
530.0
536.3
557.8
Long-Term Debt
2,322.2
2,350.1
1,214.6
1,329.9
1,618.9
Long-Term Capital Lease
Obligation
8,772.2
7,080.6
3,482.6
3,457.5
3,514.1
Long-Term Debt and Capital
Lease Obligation
11,094.4
9,430.7
4,697.2
4,787.4
5,132.9
244.6
–
–
126.9
107.9
244.6
–
–
126.9
107.9
Trade and Other Payables Non-Current
–
–
34.1
26.8
–
Other Long-Term Liabilities
98.0
60.7
46.7
40.3
18.2
Total Non-Current Liabilities
11,437.0
9,491.4
4,777.9
4,981.5
5,259.0
Total Liabilities
12,342.6
10,229.8
5,308.0
5,517.8
5,816.8
1.2
1.2
0.9
0.9
0.8
Payables
Interest Payable
Accrued Expenses
Other Current liabilities
Total Current Liabilities
Deferred Taxes – NonCurrent Liabilities
Non-Current Deferred
Liabilities
Common Stock
Capital Stock
Retained Earnings
(Accumulated Deficit)
Additional Paid-In Capital
Treasury Stock
1.2
1.2
0.9
0.9
0.8
161.6
-968.0
-1,051.8
-1,525.3
-1,634.6
1,718.3
1,726.4
1,007.6
1,014.1
988.7
-28.4
-28.4
-28.4
-28.4
-28.4
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
–
–
-1.5
-4.7
-4.6
1,852.7
731.2
-73.1
-543.3
-678.0
-0.8
–
–
–
–
1,851.9
731.2
-73.1
-543.3
-678.0
Total Liabilities and
Shareholders’ Equity
14,194.5
10,961.0
5,234.8
4,974.5
5,138.8
Net Tangible Assets
-1,444.5
-2,354.1
-1,503.8
-1,968.5
-1,981.4
Working Capital
-262.8
-60.8
-129.0
-137.1
-185.3
Invested Capital
4,237.8
3,143.4
1,177.1
872.2
1,032.9
Gains (Losses) Not A ecting
Retained Earnings
Stockholders’ Equity
Minority Interest
Total Equity
Capital Lease Obligations
8,943.3
7,148.4
3,538.8
3,514.1
3,564.6
Total Debt
11,328.4
9,560.6
4,789.1
4,929.6
5,275.6
Net Debt
1,947.7
1,932.6
972.3
1,186.0
1,474.0
Total Capitalization
4,174.9
3,081.3
1,141.5
786.6
940.8
Common Stock Equity
1,852.7
731.2
-73.1
-543.3
-678.0
Total Common Shares
Outstanding
116.0
116.7
91.2
91.1
80.9
Total Preferred Shares
Outstanding
0.0
0.0
0.0
0.0
–
Treasury Shares Number
Shares Issued
Tangible Book Value
Employees
2.2
2.2
2.2
2.2
2.2
118.1
118.9
93.4
93.3
83.1
-1,444.5
-2,354.1
-1,503.8
-1,968.5
-1,981.4
28,300
25,750
18,754
18,808
18,204
© 2020 Morningstar. All Rights Reserved.
Published by Dun & Bradstreet, Inc., May 2020.
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Except for share items (millions) and per share items (actual units) Financials In: USD
Annual Income (Standardized)
Millions
31-Dec-2019
31-Dec-2018
31-Dec-2017
31-Dec-2016
31-Dec-2015
Period Length
12 Months
12 Months
12 Months
12 Months
12 Months
UpdateType/Date
Filed
27-Feb-2020
Filed
27-Feb-2020
Filed
27-Feb-2020
Filed
28-Feb-2019
Filed
01-Mar-2018
Filed Currency
USD
USD
USD
USD
USD
Exchange Rate
1
1
1
1
1
Auditor
Deloitte & Touche
LLP
Deloitte & Touche
LLP
Deloitte & Touche
LLP
Ernst & Young LLP
Ernst & Young LLP
Auditor Opinion
Unqualified with
Explanation
Unqualified with
Explanation
Unqualified
Unqualified
Unqualified
5,301.4
3,530.6
3,305.4
3,193.0
2,993.3
5,301.4
3,587.9
3,148.0
3,034.4
2,838.4
2,954.5
2,048.0
1,812.9
1,757.8
1,621.6
2,346.9
1,539.9
1,335.1
1,276.5
1,216.8
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