Sealed Air Corporation (SEE) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
2415 CASCADE POINTE BOULEVARD CHARLOTTE, NC 28208 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 282 - Plastics Materials And Synthetic Resins, Synthetic (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2023 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 investments | 456 | 561 | 549 | 262 | 272 | 594 | |||
| Cash and cash equivalents | 456 | 561 | 549 | 262 | 272 | 594 | |||
| Receivables | 737 | 733 | 682 | 670 | 613 | 728 | |||
| Inventory, net of allowances, customer advances and progress billings | 866 | 726 | 597 | 570 | 545 | 507 | |||
| Inventory | 866 | 726 | 597 | 570 | 545 | 507 | |||
| Disposal group, including discontinued operation | 0 | 3 | 1 | 4 | |||||
| Deposits current assets | |||||||||
| Other undisclosed current assets | 58 | 50 | 54 | 59 | 125 | 34 | |||
| Total current assets: | 2,117 | 2,070 | 1,882 | 1,564 | 1,555 | 1,866 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 70 | 64 | 76 | 90 | ✕ | ✕ | |||
| Property, plant and equipment | 1,276 | 1,232 | 1,190 | 1,142 | 1,036 | 998 | |||
| Intangible assets, net (including goodwill) | 2,313 | 2,342 | 2,394 | 2,399 | 2,049 | 2,023 | |||
| Goodwill | 2,175 | 2,189 | 2,223 | 2,217 | 1,948 | 1,940 | |||
| Intangible assets, net (excluding goodwill) | 138 | 153 | 171 | 182 | 102 | 84 | |||
| Disposal group, including discontinued operation, noncurrent assets | 2 | ||||||||
| Deferred income tax assets | 142 | 138 | 187 | 239 | ✕ | ✕ | |||
| Other noncurrent assets | 297 | 382 | 356 | 332 | 239 | 216 | |||
| Other undisclosed noncurrent assets | 171 | 176 | |||||||
| Total noncurrent assets: | 4,098 | 4,160 | 4,202 | 4,201 | 3,495 | 3,414 | |||
| TOTAL ASSETS: | 6,215 | 6,229 | 6,084 | 5,765 | 5,050 | 5,280 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 886 | 983 | 774 | 751 | 789 | 771 | |||
| Taxes payable | ✕ | ✕ | 23 | 20 | 12 | 24 | 47 | ||
| Accounts payable | 866 | 960 | 754 | 739 | 765 | 724 | |||
| Accrued liabilities | 20 | ||||||||
| Debt | 441 | 489 | 30 | 116 | |||||
| Restructuring reserve | 15 | 10 | 12 | 30 | 34 | 15 | |||
| Disposal group, including discontinued operation | 2 | ||||||||
| Other liabilities | 717 | 505 | 527 | 514 | 429 | 562 | |||
| Other undisclosed current liabilities | 24 | 21 | 24 | 26 | 238 | 28 | |||
| Total current liabilities: | 2,082 | 2,007 | 1,367 | 1,436 | 1,489 | 1,378 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 3,238 | 3,220 | 3,731 | 3,699 | 3,237 | 3,231 | |||
| Long-term debt, excluding current maturities | 24 | 26 | 25 | 31 | 29 | 6 | |||
| Finance lease, liability | 16 | 19 | 24 | 29 | ✕ | ✕ | |||
| Other undisclosed long-term debt and lease obligation | 3,198 | 3,130 | 3,629 | 3,573 | 3,207 | 3,224 | |||
| Liabilities, other than long-term debt | 551 | 717 | 770 | 772 | 674 | 519 | |||
| Asset retirement obligations | 8 | 11 | 11 | ||||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 20 | 29 | ||
| Deferred income tax liabilities | 33 | 47 | 31 | 31 | ✕ | ✕ | |||
| Disposal group, including discontinued operation, liabilities | 1 | ||||||||
| Other liabilities | 468 | 662 | 728 | 730 | 653 | 491 | |||
| Operating lease, liability | 50 | 45 | 53 | 66 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 36 | 43 | 55 | ||||||
| Total noncurrent liabilities: | 3,789 | 3,973 | 4,544 | 4,525 | 3,910 | 3,750 | |||
| Total liabilities: | 5,871 | 5,981 | 5,911 | 5,961 | 5,399 | 5,128 | |||
| Equity | |||||||||
| Equity, attributable to parent | 344 | 249 | 173 | (196) | (349) | 152 | |||
| Common stock | 23 | 23 | 23 | 23 | 23 | 23 | |||
| Treasury stock, value | (4,019) | (3,755) | (3,381) | (3,382) | (3,337) | (2,701) | |||
| Additional paid in capital | 2,155 | 2,123 | 2,093 | 2,074 | 2,050 | 1,940 | |||
| Accumulated other comprehensive loss | (979) | (934) | (964) | (909) | (920) | (845) | |||
| Retained earnings | 3,163 | 2,791 | 2,401 | 1,999 | 1,836 | 1,735 | |||
| Total equity: | 344 | 249 | 173 | (196) | (349) | 152 | |||
| TOTAL LIABILITIES AND EQUITY: | 6,215 | 6,229 | 6,084 | 5,765 | 5,050 | 5,280 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 5,642 | 5,534 | 4,903 | 4,791 | 4,733 | 4,462 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 4,462 | |
| Cost of revenue | (3,869) | (3,853) | (3,294) | (3,226) | (3,231) | (3,044) | ||
| Gross profit: | 1,773 | 1,681 | 1,609 | 1,565 | 1,502 | 1,417 | ||
| Operating expenses | (822) | (811) | (810) | (944) | (782) | (809) | ||
| Other undisclosed operating income (loss) | (6) | 31 | (11) | (42) | (64) | (12) | ||
| Operating income: | 945 | 901 | 788 | 579 | 656 | 596 | ||
| Nonoperating income (expense) | (53) | (17) | 17 | (20) | (18) | (19) | ||
| Gain (loss), foreign currency transaction, before tax | (7) | (1) | 2 | (8) | ||||
| Other nonoperating income (expense) | 5 | 8 | 6 | 8 | (1) | (6) | ||
| Interest and debt expense | (162) | (168) | (174) | (184) | (178) | (202) | ||
| Income from continuing operations before equity method investments, income taxes: | 729 | 716 | 631 | 375 | 460 | 376 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (5) | (5) | (3) | 18 | ||||
| Income from continuing operations before income taxes: | 729 | 716 | 626 | 370 | 458 | 393 | ||
| Income tax expense | (238) | (225) | (142) | (77) | (308) | (331) | ||
| Income from continuing operations: | 491 | 491 | 484 | 294 | 150 | 63 | ||
| Income before gain (loss) on sale of properties: | ✕ | 491 | 484 | 294 | 150 | 63 | ||
| Net income: | 491 | 491 | 484 | 294 | 150 | 63 | ||
| Other undisclosed net income (loss) attributable to parent | 0 | 16 | 19 | (31) | 43 | 752 | ||
| Net income attributable to parent: | 492 | 507 | 503 | 263 | 193 | 815 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (1) | |||||||
| Other undisclosed net loss available to common stockholders, basic | (0) | (1) | (0) | (5) | ||||
| Net income available to common stockholders, basic: | 492 | 507 | 503 | 263 | 192 | 810 | ||
| Dilutive securities, effect on basic earnings per share | 0 | 0 | 1 | 4 | ||||
| Other undisclosed net loss available to common stockholders, diluted | (0) | (0) | (1) | (4) | ||||
| Net income available to common stockholders, diluted: | 492 | 507 | 503 | 263 | 192 | 810 | ||
Comprehensive Income ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 491 | 491 | 484 | 294 | 150 | 63 | ||
| Other comprehensive income (loss) | (45) | 30 | (55) | 11 | (62) | 104 | ||
| Comprehensive income: | 446 | 521 | 430 | 305 | 88 | 167 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 0 | 16 | 19 | (31) | 43 | 752 | ||
| Comprehensive income, net of tax, attributable to parent: | 447 | 536 | 448 | 274 | 131 | 919 | ||
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.