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
Q1
10/31/2020
Q4
7/31/2020
Q3
4/30/2020
Q2
1/31/2020
Q1
10/31/2019
Q4
7/31/2019
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,7691,7321,747623739688574
Cash and cash equivalents1,7521,7141,729606724673560
Short-term investments18171817151514
Receivables716744650536563594529
Inventory, net of allowances, customer advances and progress billings1,0871,0739821,0491,0571,0421,109
Inventory1,0871,0739821,0491,0571,0421,109
Prepaid expense21181724252323
Other current assets9121416111411
Other undisclosed current assets (0)     
Total current assets:3,6023,5793,4102,2492,3952,3612,246
Noncurrent Assets
Finance lease, right-of-use asset 61636567  
Operating lease, right-of-use asset 53565960  
Property, plant and equipment4524324393803301,6291,516
Long-term investments and receivables305308299303291289279
Long-term investments305308299303291289279
Intangible assets, net (including goodwill)3,6913,6893,6963,7073,5163,5163,525
Goodwill2,6182,6132,6162,6832,4842,4822,487
Intangible assets, net (excluding goodwill)1,0731,0761,0811,0241,0321,0341,038
Other noncurrent assets272250242238251178178
Other undisclosed noncurrent assets1,6361,5351,3961,3941,380136210
Total noncurrent assets:6,3566,3296,1916,1465,8955,7485,709
TOTAL ASSETS:9,9589,9089,6008,3958,2908,1097,955
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,0261,1371,021955878984913
Accounts payable559645538502490590513
Accrued liabilities51596167656256
Employee-related liabilities233278243205165214193
Taxes payable4622505530634
Interest and dividends payable138133130126127113116
Debt25926728028030  
Other undisclosed current liabilities13310012690115121160
Total current liabilities:1,4171,5041,4271,3251,0231,1051,073
Noncurrent Liabilities
Long-term debt and lease obligation, including:1,0431,0981,04757309250250
Long-term debt, excluding current maturities1,0431,0451,04757309250250
Finance lease, liability 5355    
Operating lease, liability  45    
Other undisclosed long-term debt and lease obligation  (100)    
Liabilities, other than long-term debt942929855848862828595
Deferred income tax liabilities224219170165176177 
Liability, pension and other postretirement and postemployment benefits555553546543540536493
Other liabilities162157139140146115102
Other undisclosed noncurrent liabilities0(53)  (0) 145
Total noncurrent liabilities:1,9851,9741,9029041,1711,078990
Total liabilities:3,4023,4783,3292,2292,1942,1832,063
Stockholders' equity
Stockholders' equity attributable to parent, including:6,5516,4266,2676,1626,0925,9215,887
Common stock 888888
Additional paid in capital299290277265231185170
Accumulated other comprehensive loss(361)(395)(432)(448)(393)(400)(275)
Retained earnings6,6056,5236,4156,3376,2476,1285,984
Other undisclosed stockholders' equity attributable to parent8  (0)(0)  
Stockholders' equity attributable to noncontrolling interest5544444
Other undisclosed stockholders' equity   0   
Total stockholders' equity:6,5566,4306,2726,1666,0965,9265,891
TOTAL LIABILITIES AND EQUITY:9,9589,9089,6008,3958,2908,1097,955

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

1/31/2021
Q1
10/31/2020
Q4
7/31/2020
Q3
4/30/2020
Q2
1/31/2020
Q1
10/31/2019
Q4
7/31/2019
Q3
Revenues2,4612,4202,3812,4222,3842,5022,291
Cost of revenue
(Cost of Goods and Services Sold)
(2,011)(1,962)(1,959)(1,945)(1,916)(2,008)(1,857)
Other undisclosed gross profit  0 0  
Gross profit:450458422477468494433
Operating expenses(196)(191)(181)(194)(196)(184)(180)
Other undisclosed operating income14108108113
Operating income:268277250293280321257
Nonoperating income (expense)171016(3)1368
Interest and debt expense(8)(8)(6)(3)(4)(3)(3)
Income from continuing operations before equity method investments, income taxes:277279259286290324261
Other undisclosed loss from continuing operations before income taxes  (0)    
Income from continuing operations before income taxes:277279259286290324261
Income tax expense(55)(44)(56)(59)(47)(68)(62)
Income before gain (loss) on sale of properties:222235203228243256199
Other undisclosed net loss  (0)(0)   
Net income:222235203228243256199
Net income (loss) attributable to noncontrolling interest(0)(0)(0)0(0)(0)0
Other undisclosed net loss attributable to parent (0)     
Net income available to common stockholders, diluted:222234203228243256199

Comprehensive Income ($ in millions)

1/31/2021
Q1
10/31/2020
Q4
7/31/2020
Q3
4/30/2020
Q2
1/31/2020
Q1
10/31/2019
Q4
7/31/2019
Q3
Net income:222235203228243256199
Other comprehensive income (loss)353716(55)6(125)3
Other undisclosed comprehensive loss (0)     
Comprehensive income:257271219173249131202
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(0)(0)(0)0(0)00
Comprehensive income, net of tax, attributable to parent:257271219173249131202

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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