Avon Products, Inc. (AVP) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1 AVON PLACE SUFFERN, NY 10901 |
| State of Incorp. | NY |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2844 - Perfumes, Cosmetics, and Other Toilet Preparations (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 3/31/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 368 | 252 | 365 | 651 | 533 | 882 | |||
| Cash and cash equivalents | 368 | 252 | 365 | 651 | 533 | 882 | |||
| Restricted cash and investments | |||||||||
| Receivables | 256 | 245 | 259 | 280 | 350 | 467 | |||
| Inventory, net of allowances, customer advances and progress billings | 332 | 384 | 459 | 452 | 542 | 598 | |||
| Inventory | 332 | 384 | 459 | 452 | 542 | 598 | |||
| Prepaid expense | 48 | 54 | 52 | 60 | 58 | 118 | |||
| Disposal group, including discontinued operation | 2 | 1 | 4 | ||||||
| Asset, held-for-sale, not part of disposal group | 3 | 14 | 23 | 66 | |||||
| Other undisclosed current assets | 153 | 146 | 166 | 195 | 211 | 169 | |||
| Total current assets: | 1,158 | 1,083 | 1,315 | 1,661 | 1,762 | 2,233 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 92 | 111 | 153 | 175 | ✕ | ✕ | |||
| Property, plant and equipment | 881 | 943 | 1,149 | 475 | 558 | 703 | |||
| Long-term investments and receivables | 55 | 47 | |||||||
| Due from related parties | 55 | 47 | |||||||
| Intangible assets, net (including goodwill) | 26 | 72 | 83 | 86 | 87 | 96 | |||
| Goodwill | 26 | 72 | 83 | 86 | 87 | 96 | |||
| Deferred income tax assets | 52 | 121 | 136 | ✕ | ✕ | ||||
| Other noncurrent assets | 446 | 509 | 439 | 528 | 603 | 666 | |||
| Other undisclosed noncurrent assets | (548) | (579) | (710) | 161 | |||||
| Total noncurrent assets: | 1,003 | 1,224 | 1,249 | 1,426 | 1,248 | 1,465 | |||
| TOTAL ASSETS: | 2,162 | 2,308 | 2,564 | 3,086 | 3,010 | 3,698 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 791 | 889 | 1,139 | 1,256 | 1,369 | 1,381 | |||
| Taxes payable | ✕ | ✕ | 12 | 5 | 7 | 16 | 13 | ||
| Employee-related liabilities | ✕ | ✕ | 82 | 89 | 115 | 86 | 130 | ||
| Accounts payable | 462 | 523 | 709 | 723 | 817 | 832 | |||
| Accrued liabilities | 330 | 273 | 335 | 411 | 451 | 406 | |||
| Debt | 6 | 33 | 28 | 2 | 12 | 26 | |||
| Disposal group, including discontinued operation | 80 | 11 | |||||||
| Due to related parties | 537 | 372 | 1,009 | ||||||
| Other undisclosed current liabilities | 126 | 128 | 119 | 143 | 104 | 153 | |||
| Total current liabilities: | 1,540 | 1,422 | 2,295 | 1,401 | 1,497 | 1,560 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 216 | 1,412 | 675 | 1,590 | 1,584 | 1,869 | |||
| Long-term debt, excluding current maturities | 215 | 676 | 1,590 | 1,582 | 1,872 | ||||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | 3 | |||
| Finance lease, liability | 1 | 1 | 2 | ✕ | ✕ | ||||
| Other undisclosed long-term debt and lease obligation | 648 | 674 | (3) | ||||||
| Liabilities, other than long-term debt | 221 | 244 | 342 | 357 | 337 | 342 | |||
| Accounts payable and accrued liabilities | 33 | 82 | 101 | 129 | 136 | 85 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 22 | |||
| Deferred income tax liabilities | 3 | 2 | ✕ | ✕ | |||||
| Liability, pension and other postretirement and postemployment benefits | 58 | 85 | 133 | 138 | 128 | 151 | |||
| Due to related parties | |||||||||
| Other liabilities | 58 | 75 | 106 | 91 | 72 | 84 | |||
| Operating lease, liability | 72 | 88 | ✕ | ✕ | |||||
| Other undisclosed noncurrent liabilities | 1,426 | 85 | 119 | 143 | (3) | 174 | |||
| Total noncurrent liabilities: | 1,863 | 1,741 | 1,137 | 2,091 | 1,918 | 2,385 | |||
| Total liabilities: | 3,403 | 3,163 | 3,432 | 3,492 | 3,415 | 3,945 | |||
| Temporary equity, carrying amount | 579 | 492 | 468 | ||||||
| Equity | |||||||||
| Equity, attributable to parent | (1,245) | (859) | (872) | (991) | (905) | (725) | |||
| Common stock | 193 | 190 | 190 | ||||||
| Treasury stock, value | (4,603) | (4,602) | (4,600) | ||||||
| Additional paid in capital | 640 | 631 | 623 | 2,321 | 2,304 | 2,291 | |||
| Accumulated other comprehensive loss | (1,052) | (1,086) | (1,134) | (1,040) | (1,030) | (926) | |||
| Retained earnings (accumulated deficit) | (832) | (404) | (361) | 2,139 | 2,234 | 2,320 | |||
| Equity, attributable to noncontrolling interest | 4 | 4 | 4 | 7 | 8 | 10 | |||
| Total equity: | (1,241) | (855) | (867) | (984) | (897) | (715) | |||
| TOTAL LIABILITIES AND EQUITY: | 2,162 | 2,308 | 2,564 | 3,086 | 3,010 | 3,698 | |||
Income Statement (P&L) ($ in millions)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,769 | 3,405 | 3,625 | 4,763 | 5,571 | 5,716 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 5,716 | |
| Cost of revenue | (1,186) | (1,439) | (1,595) | (2,010) | (2,364) | (2,203) | ||
| Cost of goods and services sold | (23) | (27) | (38) | (37) | (114) | (568) | ||
| Gross profit: | 1,583 | 1,965 | 2,031 | 2,753 | 3,207 | 3,512 | ||
| Operating expenses | (1,705) | (2,001) | (2,153) | (2,628) | (2,972) | (3,239) | ||
| Other undisclosed operating loss | (56) | (22) | ||||||
| Operating income (loss): | (179) | (58) | (122) | 126 | 235 | 273 | ||
| Nonoperating income (expense) | (139) | (100) | (181) | 13 | (127) | (153) | ||
| Investment income, nonoperating | 4 | 2 | 2 | 8 | 15 | 15 | ||
| Other nonoperating income (expense) | (6) | 2 | (20) | 94 | (7) | (27) | ||
| Interest and debt expense | (0) | (0) | (38) | (12) | (1) | (141) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 38 | 12 | 1 | 141 | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (318) | (159) | (304) | 138 | 108 | 121 | ||
| Other undisclosed income from continuing operations before income taxes | 0 | 0 | ||||||
| Income (loss) from continuing operations before income taxes: | (317) | (159) | (304) | 138 | 108 | 121 | ||
| Income tax expense | (37) | (16) | (34) | (103) | (130) | (101) | ||
| Income (loss) from continuing operations: | (355) | (175) | (338) | 35 | (22) | 20 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | (194) | (366) | (1) | (22) | 20 | ||
| Loss from discontinued operations | (73) | (19) | (28) | (37) | ||||
| Net income (loss): | (428) | (194) | (366) | (1) | (22) | 20 | ||
| Net income (loss) attributable to noncontrolling interest | (0) | 1 | 3 | 1 | 2 | 2 | ||
| Net income (loss) attributable to parent: | (428) | (192) | (363) | (0) | (20) | 22 | ||
| Preferred stock dividends and other adjustments | (24) | 23 | ||||||
| Net income (loss) available to common stockholders, diluted: | (428) | (192) | (363) | (0) | (44) | 45 | ||
Comprehensive Income ($ in millions)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (428) | (194) | (366) | (1) | (22) | 20 | ||
| Other comprehensive income (loss) | 33 | 50 | (94) | (9) | (104) | 108 | ||
| Comprehensive income (loss): | (395) | (143) | (459) | (11) | (126) | 128 | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 0 | 1 | 3 | 1 | 3 | 2 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (395) | (143) | (457) | (10) | (124) | 129 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.