Hormel Foods Corporation (HRL) financial statements (2020 and earlier)

Company profile

Business Address 1 HORMEL PL
AUSTIN, MN 55912-3680
State of Incorp. DE
Fiscal Year End October 31
SIC 2011 - Meat Packing Plants (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

10/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
10/31/2014
10/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments688459444415347334434
Cash and cash equivalents673459444415347334434
Short-term investments15      
Receivables594604641610612635552
Inventory, net of allowances, customer advances and progress billings1,0429649219869931,055968
Inventory1,0429649219869931,055968
Prepaid expense23161614141513
Deferred tax assets   878774
Other current assets14756977
Total current assets:2,3612,0502,0272,0302,0632,1332,047
Noncurrent Assets
Property, plant and equipment1,6291,5131,2031,1051,0121,002955
Long-term investments and receivables289273242240259264271
Long-term investments289273242240259264271
Intangible assets, net (including goodwill)3,5163,9213,1472,7382,5271,7811,313
Goodwill2,4822,7142,1201,8341,6991,226934
Intangible assets, net (excluding goodwill)1,0341,2071,027903827555378
Other noncurrent assets178190185182146145142
Defined benefit plan, assets for plan benefits69133130163
Deferred tax assets, net     25
Other undisclosed noncurrent assets1361951726   
Total noncurrent assets:5,7486,0924,9494,3404,0773,3232,868
TOTAL ASSETS:8,1098,1426,9766,3706,1405,4564,916
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities984995930897873830654
Accounts payable590619553482495484387
Accrued liabilities62487782727721
Employee-related liabilities214225210251232210192
Taxes payable6214769
Interest and dividends payable1131019077675346
Debt    185  
Other undisclosed current liabilities121143128156156125130
Total current liabilities:1,1051,1391,0581,0531,214955784
Noncurrent Liabilities
Long-term debt and lease obligation250625250250250250250
Long-term debt, excluding current maturities250625250250250250250
Liabilities, other than long-term debt828577728615674639565
Pension and other postretirement defined benefit plans, liabilities481
Deferred tax liabilities, net 98 6424 
Deferred income tax liabilities177
Liability, pension and other postretirement and postemployment benefits536478530522509503
Other liabilities11599999310111284
Other undisclosed noncurrent liabilities 197     
Total noncurrent liabilities:1,0781,399978865924889815
Total liabilities:2,1832,5372,0361,9192,1381,8441,599
Stockholders' equity
Stockholders' equity attributable to parent, including:5,9215,6014,9364,4483,9983,6063,311
Common stock8      
Additional paid in capital18510714    
Accumulated other comprehensive loss(400)(243)(248)(296)(226)(208)(149)
Retained earnings6,1285,7305,1634,7374,2163,8063,453
Other undisclosed stockholders' equity attributable to parent 888888
Stockholders' equity attributable to noncontrolling interest4443366
Total stockholders' equity:5,9265,6054,9404,4514,0013,6123,317
TOTAL LIABILITIES AND EQUITY:8,1098,1426,9766,3706,1405,4564,916

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

10/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
10/31/2014
10/31/2013
Revenues9,4979,5469,1689,5239,2649,3168,752
Revenue, net9,1689,5239,2649,3168,752
Cost of revenue
(Cost of Goods and Services Sold)
(7,613)(7,550)(7,164)(7,365)(7,455)(7,751)(7,339)
Gross profit:1,8851,9952,0032,1581,8091,5651,413
Operating expenses(728)(855)(762)(873)(779)(689)(665)
Other undisclosed operating income395940393785 
Operating income:1,1961,1991,2801,3241,067962748
Nonoperating income329116335
Interest and debt expense(18)(26)(13)(13)(13)(13)(12)
Income from continuing operations before equity method investments, income taxes:1,2101,1811,2791,3171,057952741
Income from equity method investments    241821
Other undisclosed income (loss) from continuing operations before income taxes    (24)(48)37
Income from continuing operations before income taxes:1,2101,1811,2791,3171,057922799
Income tax expense(231)(169)(432)(427)(370)(316)(268)
Net income:9791,013847891687606530
Net loss attributable to noncontrolling interest(0)(0)(0)(0)(1)(3)(4)
Net income available to common stockholders, diluted:9791,012847890686603526

Comprehensive Income ($ in millions)

10/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
10/31/2014
10/31/2013
Net income:9791,013847891687606530
Other comprehensive income (loss)(102)448(71)(19)(58)175
Comprehensive income:8771,017895820669548705
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(0)(0)(0)(0)(1)(3)4
Other undisclosed comprehensive loss, net of tax, attributable to parent      (8)
Comprehensive income, net of tax, attributable to parent:8771,017895819668544701

Statements sources

The financial statements are based on the company's filings with the 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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