Gates Industrial Corporation plc (GTES) financial statements (2021 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)

Current Assets
Cash, cash equivalents, and short-term investments635423
Cash and cash equivalents635423
Inventory, net of allowances, customer advances and progress billings475538
Other undisclosed current assets131104
Total current assets:1,9591,815
Noncurrent Assets
Finance lease, right-of-use asset3
Operating lease, right-of-use asset123
Nontrade receivables2328
Property, plant and equipment 756
Intangible assets, net (including goodwill)3,9374,037
Intangible assets, net (excluding goodwill)1,8761,991
Estimated insurance recoveries22
Deferred income tax assets587
Other noncurrent assets1735
Other undisclosed noncurrent assets76151
Total noncurrent assets:5,4534,908
TOTAL ASSETS:7,4116,723
Current Liabilities
Accounts payable and accrued liabilities612627
Accounts payable375424
Accrued liabilities189184
Taxes payable4919
Total current liabilities:658679
Noncurrent Liabilities
Long-term debt and lease obligation3,0292,953
Long-term debt, excluding current maturities2,9122,953
Finance lease, liability1
Operating lease, liability115
Liabilities, other than long-term debt605317
Accounts payable and accrued liabilities 82
Deferred income tax liabilities369
Liability, pension and other postretirement and postemployment benefits151156
Other liabilities8579
Other undisclosed noncurrent liabilities109440
Total noncurrent liabilities:3,7433,710
Total liabilities:4,4014,389
Stockholders' equity
Stockholders' equity attributable to parent2,6511,947
Common stock33
Additional paid in capital2,4352,417
Accumulated other comprehensive loss(858)(854)
Retained earnings1,072382
Stockholders' equity attributable to noncontrolling interest360386
Total stockholders' equity:3,0112,334

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

Cost of revenue(1,945)(2,017)
Gross profit:1,1431,331
Operating expenses(995)(821)
Other operating expense, net(9)(14)
Other nonrecurring (income) expense (4)
Other undisclosed operating income 2
Operating income:139497
Nonoperating expense
(Other Nonoperating expense)
Interest and debt expense(158)(176)
Income (loss) from continuing operations before equity method investments, income taxes:(19)304
Other undisclosed income from continuing operations before income taxes218 
Income from continuing operations before income taxes:199304
Income tax expense (benefit)496(32)
Income before gain (loss) on sale of properties:695272
Other undisclosed net loss(1)(1)
Net income:694271
Net loss attributable to noncontrolling interest(4)(26)
Net income available to common stockholders, diluted:690245

Comprehensive Income ($ in millions)

Net income:694271
Other comprehensive loss(7)(125)
Comprehensive income:688146
Comprehensive loss, net of tax, attributable to noncontrolling interest(2)(8)
Comprehensive income, net of tax, attributable to parent:686138

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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