Gates Industrial Corporation plc (GTES) Financial Statements (2024 and earlier)

Company Profile

Business Address 1144 FIFTEENTH STREET
DENVER, CO 80202
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 356 - General Industrial Machinery And Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments578658521635423
Cash and cash equivalents578658521635423
Receivables822727724717750
Inventory, net of allowances, customer advances and progress billings656683508475538
Inventory656683508475538
Other undisclosed current assets221211153131104
Total current assets:2,2772,2791,9071,9591,815
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 4443
Operating lease, right-of-use asset132124121123
Nontrade receivables1516272328
Property, plant and equipment     756
Intangible assets, net (including goodwill)3,4723,7053,9093,9374,037
Goodwill1,9812,0632,1202,0612,046
Intangible assets, net (excluding goodwill)1,4901,6421,7891,8761,991
Estimated insurance recoveries 22222
Deferred income tax assets600639673587
Other noncurrent assets4824171735
Other undisclosed noncurrent assets64274076976151
Total noncurrent assets:4,9145,2545,5205,4534,908
TOTAL ASSETS:7,1927,5337,4267,4116,723
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities692818684612627
Taxes payable34144919
Accounts payable470507417375424
Accrued liabilities223277252189184
Debt3738434652
Other undisclosed current liabilities23    
Total current liabilities:752856726658679
Noncurrent Liabilities
Long-term debt and lease obligation2,4282,6432,7803,0292,953
Long-term debt, excluding current maturities2,4262,5272,6662,9122,953
Finance lease, liability 2221
Liabilities, other than long-term debt488449624605317
Accounts payable and accrued liabilities     82
Deferred income tax liabilities192284360369
Liability, pension and other postretirement and postemployment benefits76106143151156
Other liabilities100591218579
Operating lease, liability 120114111115
Other undisclosed noncurrent liabilities80104112109440
Total noncurrent liabilities:2,9963,1963,5153,7433,710
Total liabilities:3,7484,0524,2414,4014,389
Equity
Equity, attributable to parent3,1103,1002,8062,6511,947
Common stock33333
Additional paid in capital2,5422,4842,4572,4352,417
Accumulated other comprehensive loss(918)(825)(805)(858)(854)
Retained earnings1,4831,4381,1511,072382
Equity, attributable to noncontrolling interest334382379360386
Total equity:3,4443,4813,1853,0112,334
TOTAL LIABILITIES AND EQUITY:7,1927,5337,4267,4116,723

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues3,5543,4742,7933,0873,348
Cost of revenue(2,304)(2,135)(1,758)(1,945)(2,017)
Gross profit:1,2511,3391,0351,1431,331
Operating expenses(856)(856)(782)(995)(821)
Other operating income (expense), net(0)91(9)(14)
Other nonrecurring (income) expense     (4)
Other undisclosed operating income (loss)(11)(8)(43) 2
Operating income:384484211139497
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
13(1)14 (17)
Interest and debt expense(139)(134)(154)(158)(176)
Income (loss) from continuing operations before equity method investments, income taxes:25835071(19)304
Other undisclosed income from continuing operations before income taxes    218 
Income from continuing operations before income taxes:25835071199304
Income tax expense (benefit)(15)(18)19496(32)
Income from continuing operations:24333190695272
Income before gain (loss) on sale of properties:33190695272
Other undisclosed net loss(0) (0)(1)(1)
Net income:24333190694271
Net loss attributable to noncontrolling interest(22)(34)(11)(4)(26)
Net income available to common stockholders, diluted:22129779690245

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:24333190694271
Other comprehensive income (loss)(134)(25)81(7)(125)
Comprehensive income:109306171688146
Comprehensive income (loss), net of tax, attributable to noncontrolling interest20(29)(39)(2)(8)
Comprehensive income, net of tax, attributable to parent:128277132686138

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.

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