Gates Industrial Corporation plc (GTES) financial statements (2022 and earlier)

Company profile

Business Address 1144 FIFTEENTH STREET
DENVER, CO 80202
State of Incorp.
Fiscal Year End December 31
SIC 356 - General Industrial Machinery And Equipment (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
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments658521635423
Cash and cash equivalents658521635423
Receivables727724717750
Inventory, net of allowances, customer advances and progress billings683508475538
Inventory683508475538
Other undisclosed current assets211153131104
Total current assets:2,2791,9071,9591,815
Noncurrent Assets
Finance lease, right-of-use asset443
Operating lease, right-of-use asset124121123
Nontrade receivables16272328
Property, plant and equipment   756
Intangible assets, net (including goodwill)3,7053,9093,9374,037
Goodwill2,0632,1202,0612,046
Intangible assets, net (excluding goodwill)1,6421,7891,8761,991
Estimated insurance recoveries2222
Deferred income tax assets639673587
Other noncurrent assets24171735
Other undisclosed noncurrent assets74076976151
Total noncurrent assets:5,2545,5205,4534,908
TOTAL ASSETS:7,5337,4267,4116,723
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities818684612627
Accounts payable507417375424
Accrued liabilities277252189184
Taxes payable34144919
Debt38434652
Total current liabilities:856726658679
Noncurrent Liabilities
Long-term debt and lease obligation2,6432,7803,0292,953
Long-term debt, excluding current maturities2,5272,6662,9122,953
Finance lease, liability221
Operating lease, liability114111115
Liabilities, other than long-term debt449624605317
Accounts payable and accrued liabilities   82
Deferred income tax liabilities284360369
Liability, pension and other postretirement and postemployment benefits106143151156
Other liabilities591218579
Other undisclosed noncurrent liabilities104112109440
Total noncurrent liabilities:3,1963,5153,7433,710
Total liabilities:4,0524,2414,4014,389
Stockholders' equity
Stockholders' equity attributable to parent3,1002,8062,6511,947
Common stock3333
Additional paid in capital2,4842,4572,4352,417
Accumulated other comprehensive loss(825)(805)(858)(854)
Retained earnings1,4381,1511,072382
Stockholders' equity attributable to noncontrolling interest382379360386
Total stockholders' equity:3,4813,1853,0112,334
TOTAL LIABILITIES AND EQUITY:7,5337,4267,4116,723

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues3,4742,7933,0873,348
Cost of revenue(2,135)(1,758)(1,945)(2,017)
Gross profit:1,3391,0351,1431,331
Operating expenses(856)(782)(995)(821)
Other operating income (expense), net91(9)(14)
Other nonrecurring (income) expense   (4)
Other undisclosed operating income (loss)(8)(43) 2
Operating income:484211139497
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(1)14 (17)
Interest and debt expense(134)(154)(158)(176)
Income (loss) from continuing operations before equity method investments, income taxes:35071(19)304
Other undisclosed income from continuing operations before income taxes  218 
Income from continuing operations before income taxes:35071199304
Income tax expense (benefit)(18)19496(32)
Income before gain (loss) on sale of properties:33190695272
Other undisclosed net loss (0)(1)(1)
Net income:33190694271
Net loss attributable to noncontrolling interest(34)(11)(4)(26)
Net income available to common stockholders, diluted:29779690245

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:33190694271
Other comprehensive income (loss)(25)81(7)(125)
Comprehensive income:306171688146
Comprehensive loss, net of tax, attributable to noncontrolling interest(29)(39)(2)(8)
Comprehensive income, net of tax, attributable to parent:277132686138

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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