Franklin Electric Co., Inc. (FELE) financial statements (2023 and earlier)

Company profile

Business Address 9255 COVERDALE ROAD
FORT WAYNE, IN 46809
State of Incorp. IN
Fiscal Year End December 31
SIC 3621 - Motors and Generators (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4113164596710482
Cash and cash equivalents4113164596710482
Receivables196160173173171146127
Inventory, net of allowances, customer advances and progress billings450301300314312203195
Inventory450301300314312203195
Other current assets38282934393035
Total current assets:725619567580589484438
Noncurrent Assets
Operating lease, right-of-use asset483228
Property, plant and equipment211209201207216196190
Intangible assets, net (including goodwill)579401387384368334341
Goodwill330267256249237200200
Intangible assets, net (excluding goodwill)250134131135131135141
Disposal group, including discontinued operation, noncurrent assets      2
Deferred income tax assets899
Other noncurrent assets432332122
Other undisclosed noncurrent assets   9953
Total noncurrent assets:851653627602596556558
TOTAL ASSETS:1,5751,2721,1951,1821,1851,040996
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities283190154144145124112
Accounts payable165968377796458
Accrued liabilities41433025252152
Employee-related liabilities744639403936 
Taxes payable3532232
Debt9832211210034 
Other undisclosed current liabilities1511100(0)033
Total current liabilities:396204186256246158145
Noncurrent Liabilities
Long-term debt and lease obligation, including:91929394126157188
Operating lease, liability332118
Other undisclosed long-term debt and lease obligation58717594126157188
Liabilities, other than long-term debt10710610067796264
Deferred income tax liabilities282628
Liability for uncertainty in income taxes1212121117  
Liability, pension and other postretirement and postemployment benefits41443838424547
Other liabilities27242218191717
Other undisclosed noncurrent liabilities33211829314033
Total noncurrent liabilities:231219211190235259285
Total liabilities:627423396446481417430
Temporary equity, carrying amount(0)(0)(0)1287
Stockholders' equity
Stockholders' equity attributable to parent947848797734701613558
Common stock5555555
Additional paid in capital311283270258240229216
Accumulated other comprehensive loss(229)(205)(190)(183)(149)(170)(162)
Retained earnings860765712655605550498
Stockholders' equity attributable to noncontrolling interest2222222
Total stockholders' equity:949850799736703615559
TOTAL LIABILITIES AND EQUITY:1,5751,2721,1951,1821,1851,040996

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,6621,2471,3151,2981,125950925
Revenue, net1,125950925
Cost of revenue
(Cost of Goods and Services Sold)
(1,086)(814)(886)(866)(748)(618)(627)
Gross profit:576433428432377331298
Operating expenses(387)(303)(301)(300)(270)(221)(207)
Operating income:18913112713210711190
Nonoperating income (expense)6(2)(2)(2)826
Foreign currency transaction gain (loss), before tax(2)(1)(2)(1)11(1)
Other nonoperating income (expense)8(1)(0)(1)717
Interest and debt expense(5)(5)(8)(10)(10)(9)(10)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 0(0)(0)0(0)(0)
Income from continuing operations before equity method investments, income taxes:19012411712010510486
Other undisclosed income (loss) from continuing operations before income taxes (0)00(0)00
Income from continuing operations before income taxes:19012411712010510486
Income tax expense(35)(23)(21)(15)(26)(25)(13)
Net income:15510196106797974
Net income (loss) attributable to noncontrolling interest(1)(1)(1)0(0)(1)(1)
Net income attributable to parent:15410095106787973
Preferred stock dividends and other adjustments     (1) 
Undistributed earnings (loss) allocated to participating securities, basic(1)(1)(1)(1)(1)
Other undisclosed net income (loss) available to common stockholders, basic00000(1) 
Net income available to common stockholders, diluted:15310095105787773

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:15510196106797974
Other comprehensive income (loss)(24)(14)(7)(34)20(8)(54)
Comprehensive income:131878972997119
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1)(1)(1)00(0)(0)
Comprehensive income, net of tax, attributable to parent:130868872997119

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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