Franklin Electric Co., Inc. (FELE) financial statements (2020 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)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 48 | 59 | 67 | 104 | 82 | 59 | 135 | ||
| Cash and cash equivalents | 48 | 59 | 67 | 104 | 82 | 59 | 135 | ||
| Receivables | 198 | 173 | 171 | 146 | 127 | 144 | 115 | ||
| Inventory, net of allowances, customer advances and progress billings | 334 | 314 | 312 | 203 | 195 | 221 | 192 | ||
| Inventory | 334 | 314 | 312 | 203 | 195 | 221 | 192 | ||
| Other current assets | 38 | 34 | 39 | 30 | 35 | 38 | 21 | ||
| Other undisclosed current assets | 8 | 10 | |||||||
| Total current assets: | 618 | 580 | 589 | 484 | 438 | 470 | 472 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 25 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 198 | 207 | 216 | 196 | 190 | 210 | 209 | ||
| Intangible assets, net (including goodwill) | 386 | 384 | 368 | 334 | 341 | 369 | 356 | ||
| Goodwill | 253 | 249 | 237 | 200 | 200 | 209 | 207 | ||
| Intangible assets, net (excluding goodwill) | 133 | 135 | 131 | 135 | 141 | 160 | 149 | ||
| Disposal group, including discontinued operation, noncurrent assets | 2 | 2 | ✕ | ||||||
| Deferred income tax assets | 9 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other noncurrent assets | 2 | 3 | 3 | 21 | 22 | 21 | 10 | ||
| Assets held-for-sale, long lived | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 2 | ||
| Other undisclosed noncurrent assets | 9 | 9 | 5 | 3 | 4 | 3 | |||
| Total noncurrent assets: | 619 | 602 | 596 | 556 | 558 | 606 | 580 | ||
| TOTAL ASSETS: | 1,237 | 1,182 | 1,185 | 1,040 | 996 | 1,076 | 1,052 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 100 | 144 | 145 | 124 | 112 | 216 | 122 | ||
| Accounts payable | 95 | 77 | 79 | 64 | 58 | 71 | 58 | ||
| Accrued liabilities | 25 | 25 | 21 | 52 | 95 | 62 | |||
| Employee-related liabilities | 40 | 39 | 36 | 50 | |||||
| Taxes payable | 5 | 2 | 2 | 3 | 2 | 1 | 2 | ||
| Debt | 81 | 112 | 100 | 34 | 34 | 15 | |||
| Other undisclosed current liabilities | 77 | 0 | (0) | 0 | 33 | (49) | 1 | ||
| Total current liabilities: | 257 | 256 | 246 | 158 | 145 | 201 | 138 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 93 | 94 | 126 | 157 | 188 | 144 | 174 | ||
| Operating lease, liability | 16 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other undisclosed long-term debt and lease obligation | 77 | 94 | 126 | 157 | 188 | 144 | 174 | ||
| Liabilities, other than long-term debt | 93 | 67 | 79 | 62 | 64 | 80 | 81 | ||
| Pension and other postretirement defined benefit plans, liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 42 | ||
| Deferred income tax liabilities | 28 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Liability for uncertainty in income taxes | 12 | 11 | 17 | ||||||
| Liability, pension and other postretirement and postemployment benefits | 33 | 38 | 42 | 45 | 47 | 59 | ✕ | ||
| Other liabilities | 20 | 18 | 19 | 17 | 17 | 21 | 40 | ||
| Other undisclosed noncurrent liabilities | 16 | 29 | 31 | 40 | 33 | 46 | 55 | ||
| Total noncurrent liabilities: | 203 | 190 | 235 | 259 | 285 | 269 | 310 | ||
| Total liabilities: | 460 | 446 | 481 | 417 | 430 | 470 | 448 | ||
| Temporary equity, carrying amount | (0) | 1 | 2 | 8 | 7 | 6 | 5 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 775 | 734 | 701 | 613 | 558 | 597 | 596 | ||
| Common stock | 5 | 5 | 5 | 5 | 5 | 5 | 5 | ||
| Additional paid in capital | 267 | 258 | 240 | 229 | 216 | 207 | 195 | ||
| Accumulated other comprehensive loss | (197) | (183) | (149) | (170) | (162) | (108) | (55) | ||
| Retained earnings | 700 | 655 | 605 | 550 | 498 | 493 | 451 | ||
| Stockholders' equity attributable to noncontrolling interest | 2 | 2 | 2 | 2 | 2 | 2 | 3 | ||
| Total stockholders' equity: | 777 | 736 | 703 | 615 | 559 | 599 | 598 | ||
| TOTAL LIABILITIES AND EQUITY: | 1,237 | 1,182 | 1,185 | 1,040 | 996 | 1,076 | 1,052 | ||
Income statement (P&L) ($ in millions)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,311 | 1,298 | 1,125 | 950 | 925 | 1,048 | 965 | |
| Revenue, net | ✕ | ✕ | 1,125 | 950 | 925 | 1,048 | 965 | |
| Cost of revenue (Cost of Goods and Services Sold) | (880) | (866) | (748) | (618) | (627) | (703) | (634) | |
| Gross profit: | 431 | 432 | 377 | 331 | 298 | 344 | 332 | |
| Operating expenses | (304) | (300) | (270) | (221) | (207) | (276) | (235) | |
| Other undisclosed operating income | 32 | 27 | ||||||
| Operating income: | 127 | 132 | 107 | 111 | 90 | 100 | 124 | |
| Nonoperating income (expense) | 4 | (2) | 8 | 2 | 6 | 0 | (2) | |
| Foreign currency transaction gain (loss), before tax | 5 | (1) | 1 | 1 | (1) | (1) | (3) | |
| Other nonoperating income (expense) | (1) | (1) | 7 | 1 | 7 | 1 | 2 | |
| Interest and debt expense | (9) | (10) | (10) | (9) | (10) | (11) | (11) | |
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (0) | (0) | 0 | (0) | (0) | (0) | (0) | |
| Income from continuing operations before equity method investments, income taxes: | 122 | 120 | 105 | 104 | 86 | 90 | 112 | |
| Other undisclosed income (loss) from continuing operations before income taxes | 0 | 0 | (0) | 0 | 0 | 0 | 0 | |
| Income from continuing operations before income taxes: | 122 | 120 | 105 | 104 | 86 | 90 | 112 | |
| Income tax expense | (22) | (15) | (26) | (25) | (13) | (19) | (29) | |
| Net income: | 100 | 106 | 79 | 79 | 74 | 71 | 83 | |
| Net income (loss) attributable to noncontrolling interest | (0) | 0 | (0) | (1) | (1) | (1) | (1) | |
| Net income attributable to parent: | 100 | 106 | 78 | 79 | 73 | 70 | 82 | |
| Preferred stock dividends and other adjustments | (1) | (0) | ||||||
| Undistributed earnings (loss) allocated to participating securities, basic | (1) | (1) | (1) | ✕ | ✕ | ✕ | ✕ | |
| Other undisclosed net income (loss) available to common stockholders, basic | (0) | 0 | 0 | (1) | ||||
| Net income available to common stockholders, diluted: | 99 | 105 | 78 | 77 | 73 | 70 | 82 | |
Comprehensive Income ($ in millions)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 100 | 106 | 79 | 79 | 74 | 71 | 83 | |
| Other comprehensive income (loss) | (13) | (34) | 20 | (8) | (54) | (54) | 2 | |
| Comprehensive income: | 87 | 72 | 99 | 71 | 19 | 17 | 85 | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (0) | 0 | 0 | (0) | (0) | (1) | 0 | |
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (1) | |||||||
| Comprehensive income, net of tax, attributable to parent: | 87 | 72 | 99 | 71 | 19 | 17 | 84 | |
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.