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 investments | 658 | 521 | 635 | 423 | ||
| Cash and cash equivalents | 658 | 521 | 635 | 423 | ||
| Receivables | 727 | 724 | 717 | 750 | ||
| Inventory, net of allowances, customer advances and progress billings | 683 | 508 | 475 | 538 | ||
| Inventory | 683 | 508 | 475 | 538 | ||
| Other undisclosed current assets | 211 | 153 | 131 | 104 | ||
| Total current assets: | 2,279 | 1,907 | 1,959 | 1,815 | ||
| Noncurrent Assets | ||||||
| Finance lease, right-of-use asset | 4 | 4 | 3 | ✕ | ||
| Operating lease, right-of-use asset | 124 | 121 | 123 | ✕ | ||
| Nontrade receivables | 16 | 27 | 23 | 28 | ||
| Property, plant and equipment | 756 | |||||
| Intangible assets, net (including goodwill) | 3,705 | 3,909 | 3,937 | 4,037 | ||
| Goodwill | 2,063 | 2,120 | 2,061 | 2,046 | ||
| Intangible assets, net (excluding goodwill) | 1,642 | 1,789 | 1,876 | 1,991 | ||
| Estimated insurance recoveries | 2 | 2 | 2 | 2 | ||
| Deferred income tax assets | 639 | 673 | 587 | ✕ | ||
| Other noncurrent assets | 24 | 17 | 17 | 35 | ||
| Other undisclosed noncurrent assets | 740 | 769 | 761 | 51 | ||
| Total noncurrent assets: | 5,254 | 5,520 | 5,453 | 4,908 | ||
| TOTAL ASSETS: | 7,533 | 7,426 | 7,411 | 6,723 | ||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 818 | 684 | 612 | 627 | ||
| Accounts payable | 507 | 417 | 375 | 424 | ||
| Accrued liabilities | 277 | 252 | 189 | 184 | ||
| Taxes payable | 34 | 14 | 49 | 19 | ||
| Debt | 38 | 43 | 46 | 52 | ||
| Total current liabilities: | 856 | 726 | 658 | 679 | ||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 2,643 | 2,780 | 3,029 | 2,953 | ||
| Long-term debt, excluding current maturities | 2,527 | 2,666 | 2,912 | 2,953 | ||
| Finance lease, liability | 2 | 2 | 1 | ✕ | ||
| Operating lease, liability | 114 | 111 | 115 | ✕ | ||
| Liabilities, other than long-term debt | 449 | 624 | 605 | 317 | ||
| Accounts payable and accrued liabilities | 82 | |||||
| Deferred income tax liabilities | 284 | 360 | 369 | ✕ | ||
| Liability, pension and other postretirement and postemployment benefits | 106 | 143 | 151 | 156 | ||
| Other liabilities | 59 | 121 | 85 | 79 | ||
| Other undisclosed noncurrent liabilities | 104 | 112 | 109 | 440 | ||
| Total noncurrent liabilities: | 3,196 | 3,515 | 3,743 | 3,710 | ||
| Total liabilities: | 4,052 | 4,241 | 4,401 | 4,389 | ||
| Stockholders' equity | ||||||
| Stockholders' equity attributable to parent | 3,100 | 2,806 | 2,651 | 1,947 | ||
| Common stock | 3 | 3 | 3 | 3 | ||
| Additional paid in capital | 2,484 | 2,457 | 2,435 | 2,417 | ||
| Accumulated other comprehensive loss | (825) | (805) | (858) | (854) | ||
| Retained earnings | 1,438 | 1,151 | 1,072 | 382 | ||
| Stockholders' equity attributable to noncontrolling interest | 382 | 379 | 360 | 386 | ||
| Total stockholders' equity: | 3,481 | 3,185 | 3,011 | 2,334 | ||
| TOTAL LIABILITIES AND EQUITY: | 7,533 | 7,426 | 7,411 | 6,723 | ||
Income statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|
| Revenues | 3,474 | 2,793 | 3,087 | 3,348 | |
| Cost of revenue | (2,135) | (1,758) | (1,945) | (2,017) | |
| Gross profit: | 1,339 | 1,035 | 1,143 | 1,331 | |
| Operating expenses | (856) | (782) | (995) | (821) | |
| Other operating income (expense), net | 9 | 1 | (9) | (14) | |
| Other nonrecurring (income) expense | (4) | ||||
| Other undisclosed operating income (loss) | (8) | (43) | 2 | ||
| Operating income: | 484 | 211 | 139 | 497 | |
| 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: | 350 | 71 | (19) | 304 | |
| Other undisclosed income from continuing operations before income taxes | 218 | ||||
| Income from continuing operations before income taxes: | 350 | 71 | 199 | 304 | |
| Income tax expense (benefit) | (18) | 19 | 496 | (32) | |
| Income before gain (loss) on sale of properties: | 331 | 90 | 695 | 272 | |
| Other undisclosed net loss | (0) | (1) | (1) | ||
| Net income: | 331 | 90 | 694 | 271 | |
| Net loss attributable to noncontrolling interest | (34) | (11) | (4) | (26) | |
| Net income available to common stockholders, diluted: | 297 | 79 | 690 | 245 | |
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|
| Net income: | 331 | 90 | 694 | 271 | |
| Other comprehensive income (loss) | (25) | 81 | (7) | (125) | |
| Comprehensive income: | 306 | 171 | 688 | 146 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (29) | (39) | (2) | (8) | |
| Comprehensive income, net of tax, attributable to parent: | 277 | 132 | 686 | 138 | |
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.