Lorillard Inc (LO) financial statements (2020 and earlier)

Company profile

Business Address 714 GREEN VALLEY ROAD
GREENSBORO, NC 27408
State of Incorp. DE
Fiscal Year End December 31
SIC 2111 - Cigarettes (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,6321,6111,720
Cash and cash equivalents1,3081,4541,720
Short-term investments324157 
Receivables481918
Inventory, net of allowances, customer advances and progress billings404499410
Inventory404499410
Deposits current assets2  
Prepaid expense and other current assets20
Other current assets2823
Other undisclosed current assets520584609
Total current assets:2,6342,7362,777
Noncurrent Assets
Property, plant and equipment308316298
Long-term investments and receivables16793 
Long-term investments16793 
Intangible assets, net (including goodwill)163189121
Goodwill10010264
Intangible assets, net (excluding goodwill)638757
Prepaid expense1110
Derivative instruments and hedges6160111
Regulated entity, other noncurrent assets222626
Other noncurrent assets94151
Prepaid expense and other noncurrent assets167
Prepaid pension costs 55 
Other undisclosed noncurrent assets48(100)(104)
Total noncurrent assets:874800619
TOTAL ASSETS:3,5083,5363,396
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities524484481
Accounts payable314239
Accrued liabilities357377356
Employee-related liabilities21  
Taxes payable816586
Interest and dividends payable34  
Other undisclosed current liabilities1,0591,1671,120
Total current liabilities:1,5831,6511,601
Noncurrent Liabilities
Long-term debt and lease obligation3,5613,5603,111
Long-term debt, excluding current maturities3,5613,5603,111
Liabilities, other than long-term debt546389461
Pension and other postretirement defined benefit plans, liabilities305409
Liability, pension and other postretirement and postemployment benefits473
Other liabilities738452
Total noncurrent liabilities:4,1073,9493,572
Total liabilities:5,6905,6005,173
Stockholders' equity
Stockholders' equity attributable to parent(2,182)(2,064)(1,777)
Common stock445
Treasury stock, value(1,070)(756)(4,190)
Additional paid in capital287256298
Accumulated other comprehensive loss(263)(130)(241)
Retained earnings (accumulated deficit)(1,140)(1,438)2,351
Total stockholders' equity:(2,182)(2,064)(1,777)
TOTAL LIABILITIES AND EQUITY:3,5083,5363,396

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

12/31/2014
12/31/2013
12/31/2012
Revenues
(Revenue, Net)
6,9906,9506,623
Cost of revenue
(Cost of Goods and Services Sold)
(4,252)(4,231)(4,241)
Gross profit:2,7382,7192,382
Operating expenses(871)(882)(723)
Other undisclosed operating income241217219
Operating income:2,1082,0541,878
Nonoperating income
(Investment Income, Nonoperating)
724
Interest and debt expense(179)(172)(154)
Income from continuing operations before income taxes:1,9361,8841,728
Income tax expense(749)(704)(629)
Net income attributable to parent:1,1871,1801,099
Preferred stock dividends and other adjustments(4)(3)3
Other undisclosed net loss available to common stockholders, basic  (6)
Net income available to common stockholders, diluted:1,1831,1771,096

Comprehensive Income ($ in millions)

12/31/2014
12/31/2013
12/31/2012
Net income:1,1871,1801,099
Other comprehensive income (loss)(133)111(13)
Comprehensive income, net of tax, attributable to parent:1,0541,2911,086

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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