Hormel Foods Corporation (HRL) financial statements (2021 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)

1/31/2021
TTM
10/31/2020
10/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,7691,732688459444415347
Cash and cash equivalents1,7521,714673459444415347
Short-term investments181715    
Receivables716744594604641610612
Inventory, net of allowances, customer advances and progress billings1,0871,0731,042964921986993
Inventory1,0871,0731,042964921986993
Prepaid expense21182316161414
Deferred tax assets   87
Other current assets912147569
Other undisclosed current assets (0)     
Total current assets:3,6023,5792,3612,0502,0272,0302,063
Noncurrent Assets
Finance lease, right-of-use asset 61 
Operating lease, right-of-use asset 53 
Property, plant and equipment4524321,6291,5131,2031,1051,012
Long-term investments and receivables305308289273242240259
Long-term investments305308289273242240259
Intangible assets, net (including goodwill)3,6913,6893,5163,9213,1472,7382,527
Goodwill2,6182,6132,4822,7142,1201,8341,699
Intangible assets, net (excluding goodwill)1,0731,0761,0341,2071,027903827
Other noncurrent assets272250178190185182146
Defined benefit plan, assets for plan benefits69133
Other undisclosed noncurrent assets1,6361,5351361951726 
Total noncurrent assets:6,3566,3295,7486,0924,9494,3404,077
TOTAL ASSETS:9,9589,9088,1098,1426,9766,3706,140
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,0261,137984995930897873
Accounts payable559645590619553482495
Accrued liabilities51596248778272
Employee-related liabilities233278214225210251232
Taxes payable462262147
Interest and dividends payable138133113101907767
Debt259267    185
Other undisclosed current liabilities133100121143128156156
Total current liabilities:1,4171,5041,1051,1391,0581,0531,214
Noncurrent Liabilities
Long-term debt and lease obligation1,0431,098250625250250250
Long-term debt, excluding current maturities1,0431,045250625250250250
Finance lease, liability 53 
Liabilities, other than long-term debt942929828577728615674
Deferred tax liabilities, net 98 64
Deferred income tax liabilities224219177
Liability, pension and other postretirement and postemployment benefits555553536478530522509
Other liabilities162157115999993101
Other undisclosed noncurrent liabilities0(53) 197   
Total noncurrent liabilities:1,9851,9741,0781,399978865924
Total liabilities:3,4023,4782,1832,5372,0361,9192,138
Stockholders' equity
Stockholders' equity attributable to parent, including:6,5516,4265,9215,6014,9364,4483,998
Common stock 88    
Additional paid in capital29929018510714  
Accumulated other comprehensive loss(361)(395)(400)(243)(248)(296)(226)
Retained earnings6,6056,5236,1285,7305,1634,7374,216
Other undisclosed stockholders' equity attributable to parent8  8888
Stockholders' equity attributable to noncontrolling interest5544433
Total stockholders' equity:6,5566,4305,9265,6054,9404,4514,001
TOTAL LIABILITIES AND EQUITY:9,9589,9088,1098,1426,9766,3706,140

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

1/31/2021
TTM
10/31/2020
10/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
Revenues9,6859,6089,4979,5469,1689,5239,264
Revenue, net9,1689,5239,264
Cost of revenue
(Cost of Goods and Services Sold)
(7,877)(7,782)(7,613)(7,550)(7,164)(7,365)(7,455)
Other undisclosed gross profit0(0)     
Gross profit:1,8081,8261,8851,9952,0032,1581,809
Operating expenses(762)(761)(728)(855)(762)(873)(779)
Other undisclosed operating income42363959403937
Operating income:1,0881,1001,1961,1991,2801,3241,067
Nonoperating income40363291163
Interest and debt expense(26)(21)(18)(26)(13)(13)(13)
Income from continuing operations before equity method investments, income taxes:1,1021,1151,2101,1811,2791,3171,057
Income from equity method investments      24
Other undisclosed loss from continuing operations before income taxes(0)     (24)
Income from continuing operations before income taxes:1,1021,1151,2101,1811,2791,3171,057
Income tax expense(214)(206)(231)(169)(432)(427)(370)
Income before gain (loss) on sale of properties:8889089791,013847891687
Other undisclosed net loss(0)      
Net income:8889089791,013847891687
Net loss attributable to noncontrolling interest(0)(0)(0)(0)(0)(0)(1)
Other undisclosed net loss attributable to parent(0)      
Net income available to common stockholders, diluted:8879089791,012847890686

Comprehensive Income ($ in millions)

1/31/2021
TTM
10/31/2020
10/31/2019
10/31/2018
10/31/2017
10/31/2016
10/31/2015
Net income:8889089791,013847891687
Other comprehensive income (loss)335(102)448(71)(19)
Other undisclosed comprehensive loss(0)      
Comprehensive income:9219138771,017895820669
Comprehensive loss, net of tax, attributable to noncontrolling interest(1)(1)(0)(0)(0)(0)(1)
Comprehensive income, net of tax, attributable to parent:9209128771,017895819668

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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