Axalta Coating Systems Ltd. (AXTA) Financial Statements (2024 and earlier)

Company Profile

Business Address 50 APPLIED BANK BOULEVARD
GLEN MILLS, PA 19342
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
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 investments6458411,3611,018694770
Cash and cash equivalents6458411,3611,018694770
Restricted cash and investments10113333
Receivables1,067938870830861870
Inventory, net of allowances, customer advances and progress billings830670560592613609
Inventory830670560592613609
Prepaid expense  11713213113964
Other undisclosed current assets141     
Total current assets:2,6932,5762,9262,5732,3102,316
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization  6164 
Property, plant and equipment1,190  1,2231,2981,389
Long-term investments and receivables  1011   
Long-term investments  1011   
Intangible assets, net (including goodwill)2,6102,8712,4442,4332,5792,699
Goodwill1,4981,5931,2951,2091,2311,271
Intangible assets, net (excluding goodwill)1,1121,2781,1491,2241,3481,428
Other noncurrent assets566585593589489429
Other undisclosed noncurrent assets  1,1161,120   
Total noncurrent assets:4,3674,6424,2314,2454,3664,517
TOTAL ASSETS:7,0597,2177,1576,8186,6766,832
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,3541,2551,1271,0299981,045
Accounts payable734657564484523555
Accrued liabilities620598562545476490
Debt318054444238
Total current liabilities:1,3851,3351,1811,0731,0411,082
Noncurrent Liabilities
Long-term debt and lease obligation, including:3,6733,7503,8393,7903,8223,878
Finance lease, liability 595861 
Other undisclosed long-term debt and lease obligation3,6153,6123,7023,7903,8223,878
Liabilities, other than long-term debt502594658545503464
Deferred tax liabilities, net116141153
Deferred income tax liabilities162175114 
Liability, pension and other postretirement and postemployment benefits205269310285262279
Other liabilities13515023414510032
Operating lease, liability  7976 
Total noncurrent liabilities:4,1754,3444,4974,3364,3254,342
Total liabilities:5,5605,6795,6775,4085,3655,424
Equity
Equity, attributable to parent1,4541,4931,4331,3541,2051,276
Common stock252252251250245242
Treasury stock, value(887)(687)(444)(418)(312)(58)
Additional paid in capital1,5371,5161,4871,4741,4101,355
Accumulated other comprehensive loss(467)(414)(425)(396)(336)(241)
Retained earnings (accumulated deficit)1,019827563443199(21)
Equity, attributable to noncontrolling interest46464755105132
Total equity:1,5001,5391,4801,4101,3111,408
TOTAL LIABILITIES AND EQUITY:7,0597,2177,1576,8186,6766,832

Income Statement (P&L) ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues4,8844,4163,7384,4824,6964,377
Revenue, net4,353
Cost of revenue
(Cost of Goods and Services Sold)
(3,466)(2,987)(2,458)(2,918)(3,106)(2,780)
Gross profit:1,4191,4291,2801,5641,5901,597
Operating expenses(839)(801)(750)(963)(1,032)(1,063)
Other operating expense, net(32)     
Other undisclosed operating loss(125)(165)(224)(113)(115)(172)
Operating income:423462306488442362
Nonoperating income (expense)(26)12(33)4(15)(26)
Loss, foreign currency transaction, before tax      
Other nonoperating income41581343
Interest and debt expense(140)(134)(150)(163)(160)(147)
Income from continuing operations before income taxes:257341122330268190
Income tax expense(65)(76)(0)(77)(54)(142)
Income from continuing operations:19226412225321348
Income before gain (loss) on sale of properties:26412225321348
Net income:19226412225321348
Net loss attributable to noncontrolling interest(1)(1)(0)(4)(6)(11)
Net income available to common stockholders, diluted:19226412224920737

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:19226412225321348
Other comprehensive income (loss)(53)10(31)(56)(98)112
Comprehensive income:13927492196116159
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(0)01(7)(3)(13)
Comprehensive income, net of tax, attributable to parent:13927492190113146

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.

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