Sotheby's (BID) financial statements (2020 and earlier)

Company profile

Business Address 1334 YORK AVENUE
NEW YORK, NY 10021
State of Incorp. DE
Fiscal Year End December 31
SIC 7389 - Business Services, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

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

Current Assets
Cash, cash equivalents, and short-term investments 179544496849694721
Cash and cash equivalents 179544496849694721
Restricted cash and investments 5362593033 
Receivables 1,0858904789831,046989
Inventory, net of allowances, customer advances and progress billings 4474159215217192
Inventory 4474159215217192
Prepaid expense 262520   
Derivative instruments and hedges, assets 0030   
Other current assets 8626   
Other undisclosed current assets 4  345070
Total current assets: 1,3511,9021,2692,1102,0401,972
Noncurrent Assets
Nontrade receivables 17013 
Property, plant and equipment 387352347354364379
Long-term investments and receivables 602508651654579348
Long-term investments    421011
Accounts and financing receivable, after allowance for credit loss 602508651612569337
Intangible assets, net (including goodwill), including: 696263141415
Goodwill 565150141415
Intangible assets, net (excluding goodwill) 1311130(6)(7)
Other undisclosed intangible assets, net (including goodwill)    067
Regulated entity, other noncurrent assets  5    
Assets held-in-trust   27385053
Other noncurrent assets 227228139272033
Defined benefit plan, assets for plan benefits 672937
Deferred tax assets, net  88  
Other undisclosed noncurrent assets 3730  3856
Total noncurrent assets: 1,3381,1851,2361,1641,095921
TOTAL ASSETS: 2,6893,0872,5043,2743,1352,894
Current Liabilities
Accounts payable and accrued liabilities, including: 101908619211294
Employee-related liabilities 929468 8983
Taxes payable 31827111426
Other undisclosed accounts payable and accrued liabilities (22)(12)(9)1819(16)
Debt 14309772194
Due to related parties    2851 
Other liabilities 13194391614
Other undisclosed current liabilities 1,1211,0996077041,0831,031
Total current liabilities: 1,2491,5177431,1981,4291,142
Noncurrent Liabilities
Long-term debt and lease obligation 639653599615300515
Long-term debt, excluding current maturities 639653599615300515
Liabilities, other than long-term debt 6589921148296
Accounts payable and accrued liabilities 2038171921 
Accrued income taxes22
Deferred compensation liability, classified   26395052
Deferred tax liabilities, net  1040  
Other liabilities 465139161222
Other undisclosed noncurrent liabilities 295212565542445 
Total noncurrent liabilities: 9999541,2561,270827611
Total liabilities: 2,2482,4701,9992,4672,2571,754
Stockholders' equity
Stockholders' equity attributable to parent 4416175058068781,139
Common stock 111111
Treasury stock, value (839)(555)(510)(150)(25) 
Additional paid in capital 464453445436409387
Accumulated other comprehensive loss (72)(62)(90)(66)(77)(39)
Retained earnings 888780660586570791
Stockholders' equity attributable to noncontrolling interest 000010
Total stockholders' equity: 4416175068078781,140
TOTAL LIABILITIES AND EQUITY: 2,6893,0872,5043,2743,1352,894

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

Revenues 1,036989805961938854
Revenue, net19781119108
Cost of revenue (0)(0) (0)(96)(94)
Cost of goods and services sold     (97)(93)
Provision for loan, lease, and other losses (0)
Financial services costs(0) (0)1(0)
Gross profit: 1,036989805961842760
Operating expenses (854)(819)(683)(760)(712)(631)
Other undisclosed operating income 00 09694
Operating income: 181170123202226223
Nonoperating income 644026
Investment income, nonoperating 111223
Other nonoperating income (expense) 523(1)03
Interest and debt expense (51)(32)(30)(33)(35)(43)
Other undisclosed loss from continuing operations before equity method investments, income taxes (4)     
Income from continuing operations before equity method investments, income taxes: 13314297169193186
Income from equity method investments 433510
Other undisclosed income from continuing operations before income taxes     280
Income from continuing operations before income taxes: 136144100175222186
Income tax expense (28)(25)(26)(131)(76)(56)
Income before gain (loss) on sale of properties: 1091197443146130
Other undisclosed net loss     (28) 
Net income: 1091197443118130
Net income (loss) attributable to noncontrolling interest 0000(0) 
Other undisclosed net loss attributable to parent      (0)
Net income attributable to parent: 1091197444118130
Undistributed earnings (loss) allocated to participating securities, basic (2)(2)
Other undisclosed net loss available to common stockholders, basic   (1)(0)(1)(0)
Net income available to common stockholders, diluted: 1071177343117130

Comprehensive Income ($ in millions)

Net income: 1091197443118130
Other comprehensive income (loss) (10)28(24)11(37)11
Comprehensive income: 99147505481141
Comprehensive income (loss), net of tax, attributable to noncontrolling interest 0000(0) 
Other undisclosed comprehensive loss, net of tax, attributable to parent      (0)
Comprehensive income, net of tax, attributable to parent: 99147505480141

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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