Lorillard Inc (LO) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
714 GREEN VALLEY ROAD GREENSBORO, NC 27408 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2111 - Cigarettes (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)Annual | Quarterly
| 3/31/2015 Q1 | 12/31/2014 Q4 | 9/30/2014 Q3 | 6/30/2014 Q2 | 3/31/2014 Q1 | 12/31/2013 Q4 | 9/30/2013 Q3 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,632 | 1,224 | 881 | 1,832 | 1,611 | 1,635 | |||
| Cash and cash equivalent | 1,308 | 916 | 709 | 1,535 | 1,454 | 1,490 | |||
| Short-term investments | 324 | 308 | 172 | 297 | 157 | 145 | |||
| Receivables | 48 | 55 | 25 | 26 | 19 | 33 | |||
| Inventory, net of allowances, customer advances and progress billings | 404 | 454 | 475 | 552 | 499 | 464 | |||
| Inventory | 404 | 454 | 475 | 552 | 499 | 464 | |||
| Prepaid expense | 89 | 67 | 108 | ||||||
| Deposits current assets | 2 | 1 | |||||||
| Other current assets | 28 | 107 | 104 | 27 | 23 | 120 | |||
| Other undisclosed current assets | 520 | 463 | 501 | 578 | 584 | 503 | |||
| Total current assets: | 2,634 | 2,392 | 2,053 | 3,016 | 2,736 | 2,863 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 308 | 311 | 312 | 311 | 316 | 313 | |||
| Long-term investments and receivables | 167 | 185 | 126 | 191 | 93 | 88 | |||
| Long-term investments | 167 | 185 | 126 | 191 | 93 | 88 | |||
| Intangible assets, net (including goodwill) | 163 | 170 | 179 | 183 | 189 | 121 | |||
| Goodwill | 100 | 101 | 103 | 102 | 102 | 64 | |||
| Intangible assets, net (excluding goodwill) | 63 | 69 | 76 | 81 | 87 | 57 | |||
| Prepaid expense | 11 | 9 | 9 | 10 | 10 | 21 | |||
| Derivative instruments and hedges | 61 | 57 | 66 | 61 | 60 | 71 | |||
| Regulated entity, other noncurrent assets | 22 | 23 | 24 | 25 | 26 | 27 | |||
| Other noncurrent assets | 94 | 158 | 165 | 155 | 151 | 119 | |||
| Prepaid pension costs | 69 | 66 | 59 | 55 | |||||
| Other undisclosed noncurrent assets | 48 | (99) | (107) | (99) | (100) | (68) | |||
| Total noncurrent assets: | 874 | 883 | 840 | 896 | 800 | 692 | |||
| TOTAL ASSETS: | 3,508 | 3,275 | 2,893 | 3,912 | 3,536 | 3,555 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 524 | 518 | 513 | 724 | 484 | 484 | |||
| Interest and dividends payable | 34 | 60 | |||||||
| Taxes payable | 81 | 36 | 94 | 223 | 65 | 19 | |||
| Employee-related liabilities | 21 | 25 | 20 | 24 | |||||
| Accounts payable | 31 | 38 | 33 | 29 | 42 | 35 | |||
| Accrued liabilities | 357 | 359 | 366 | 448 | 377 | 430 | |||
| Other undisclosed current liabilities | 1,059 | 956 | 640 | 1,395 | 1,167 | 1,082 | |||
| Total current liabilities: | 1,583 | 1,474 | 1,153 | 2,119 | 1,651 | 1,566 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 3,561 | 3,557 | 3,566 | 3,561 | 3,560 | 3,571 | |||
| Long-term debt, excluding current maturities | 3,561 | 3,557 | 3,566 | 3,561 | 3,560 | 3,571 | |||
| Liabilities, other than long-term debt | 546 | 399 | 402 | 393 | 389 | 460 | |||
| Pension and other postretirement defined benefit plans, liabilities | ✕ | ✕ | ✕ | 311 | 306 | 305 | 397 | ||
| Liability, pension and other postretirement and postemployment benefits | 473 | 310 | ✕ | ✕ | |||||
| Other liabilities | 73 | 89 | 91 | 87 | 84 | 63 | |||
| Total noncurrent liabilities: | 4,107 | 3,956 | 3,968 | 3,954 | 3,949 | 4,031 | |||
| Total liabilities: | 5,690 | 5,430 | 5,121 | 6,073 | 5,600 | 5,597 | |||
| Equity | |||||||||
| Equity, attributable to parent | (2,182) | (2,155) | (2,228) | (2,161) | (2,064) | (2,042) | |||
| Common stock | 4 | 4 | 4 | 4 | 4 | 4 | |||
| Treasury stock, value | (1,070) | (1,070) | (1,070) | (914) | (756) | (529) | |||
| Additional paid in capital | 287 | 280 | 275 | 267 | 256 | 239 | |||
| Accumulated other comprehensive loss | (263) | (124) | (124) | (127) | (130) | (238) | |||
| Accumulated deficit | (1,140) | (1,245) | (1,313) | (1,391) | (1,438) | (1,518) | |||
| Total equity: | (2,182) | (2,155) | (2,228) | (2,161) | (2,064) | (2,042) | |||
| TOTAL LIABILITIES AND EQUITY: | 3,508 | 3,275 | 2,893 | 3,912 | 3,536 | 3,555 | |||
Income Statement (P&L) ($ in millions)Annual | Quarterly
| 3/31/2015 Q1 | 12/31/2014 Q4 | 9/30/2014 Q3 | 6/30/2014 Q2 | 3/31/2014 Q1 | 12/31/2013 Q4 | 9/30/2013 Q3 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues (Revenue, Net) | 1,768 | 1,831 | 1,799 | 1,592 | 1,742 | 1,827 | ||
| Cost of revenue (Cost of Product and Service Sold) | (1,042) | (1,120) | (1,116) | (973) | (1,083) | (1,158) | ||
| Gross profit: | 726 | 711 | 683 | 619 | 659 | 669 | ||
| Operating expenses | (324) | (213) | (169) | (166) | (348) | (221) | ||
| Other undisclosed operating income | 185 | 19 | 18 | 19 | 184 | 10 | ||
| Operating income: | 587 | 517 | 532 | 472 | 495 | 458 | ||
| Nonoperating income (expense) (Investment Income, Nonoperating) | 1 | (2) | 8 | |||||
| Interest and debt expense | (44) | (45) | (45) | (45) | (44) | (45) | ||
| Income from continuing operations before income taxes: | 544 | 472 | 485 | 435 | 451 | 413 | ||
| Income tax expense | (217) | (183) | (185) | (164) | (169) | (155) | ||
| Income from continuing operations: | 327 | 289 | 300 | 271 | 282 | 258 | ||
| Income before gain (loss) on sale of properties: | 327 | 289 | 300 | 271 | 282 | 258 | ||
| Net income attributable to parent: | 327 | 289 | 300 | 271 | 282 | 258 | ||
| Preferred stock dividends and other adjustments | (2) | (1) | (1) | (1) | (1) | (1) | ||
| Net income available to common stockholders, diluted: | 325 | 288 | 299 | 270 | 281 | 257 | ||
Comprehensive Income ($ in millions)Annual | Quarterly
| 3/31/2015 Q1 | 12/31/2014 Q4 | 9/30/2014 Q3 | 6/30/2014 Q2 | 3/31/2014 Q1 | 12/31/2013 Q4 | 9/30/2013 Q3 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 327 | 289 | 300 | 271 | 282 | 258 | ||
| Other comprehensive income (loss) | (139) | 3 | 3 | 3 | ||||
| Other undisclosed comprehensive income | 108 | 4 | ||||||
| Comprehensive income: | 188 | 292 | 303 | 274 | 390 | 262 | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (3) | |||||||
| Comprehensive income, net of tax, attributable to parent: | 188 | 289 | 303 | 274 | 390 | 262 | ||
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.