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Calculate ROI for 2017. Calculate ROE for 2017. Calculate working capital at July 30, 2017, and July 31, 2016.

Calculate ROI for 2017. Calculate ROE for 2017. Calculate working capital at July 30, 2017, and July 31, 2016.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  1. Calculate ROI for 2017.
  2. Calculate ROE for 2017.
  3. Calculate working capital at July 30, 2017, and July 31, 2016.
  4. Calculate current ratio at July 30, 2017, and July 31, 2016.
  5. Calculate Acid-test ratio at July 30, 2017, and July 31, 2016.
CAMPBELL SOUP COMPANY Consolidated Balance Sheets (millions, except per share amounts) July 30, 2017 July 31, 2016 - Current assets Cash and cash equivalents 319 296 Accounts receivable, net 605 626 Inventories 902 940 Other current assets 74 46 Total current assets. 1,900 1,908 Plant assets, net of depreciation 2,454 2,407 Goodwill. 2,115 2,263 Other intangible assets, net of amortization 1,118 1,152 Other assets ($51 as of 2017 and $34 as of 2016 attributable to variable interest entity) Total assets. . Current liabilities Short-term borrowings... Payable to suppliers and others 139 107 7,726 S 7,837 1,037 S 1,219 666 610 Accrued liabilities 561 604 Dividends payable 111 100 Accrued income taxes 20 22 Total current liabilities. 2,395 2,555 Long-term debt. Deferred taxes. 2,499 2,314 490 396 Other liabilities. Total liabilities. . Commitments and contingencies 697 1,039 6,081 6,304 Campbell Soup Company shareholders' equity Preferred stock; authorized 40 shares; none issued . Capital stock, S.0375 par value; authorized 560 shares; issued 323 shares. 12 12 Additional paid-in capital. . 359 354 Earnings retained in the business. Capital stock in treasury, 2,385 1,927 (1,066) (664) Accumulated other comprehensive loss.. (53) (104) Total Campbell Soup Company shareholders' equity. 1,637 1,525 Noncontrolling interests . Total equity Total liabilities and equity 8 8 1,645 1,533 7,726 7,837 See accompanying Notes to Consolidated Financial Statements.
Transcribed Image Text:CAMPBELL SOUP COMPANY Consolidated Balance Sheets (millions, except per share amounts) July 30, 2017 July 31, 2016 - Current assets Cash and cash equivalents 319 296 Accounts receivable, net 605 626 Inventories 902 940 Other current assets 74 46 Total current assets. 1,900 1,908 Plant assets, net of depreciation 2,454 2,407 Goodwill. 2,115 2,263 Other intangible assets, net of amortization 1,118 1,152 Other assets ($51 as of 2017 and $34 as of 2016 attributable to variable interest entity) Total assets. . Current liabilities Short-term borrowings... Payable to suppliers and others 139 107 7,726 S 7,837 1,037 S 1,219 666 610 Accrued liabilities 561 604 Dividends payable 111 100 Accrued income taxes 20 22 Total current liabilities. 2,395 2,555 Long-term debt. Deferred taxes. 2,499 2,314 490 396 Other liabilities. Total liabilities. . Commitments and contingencies 697 1,039 6,081 6,304 Campbell Soup Company shareholders' equity Preferred stock; authorized 40 shares; none issued . Capital stock, S.0375 par value; authorized 560 shares; issued 323 shares. 12 12 Additional paid-in capital. . 359 354 Earnings retained in the business. Capital stock in treasury, 2,385 1,927 (1,066) (664) Accumulated other comprehensive loss.. (53) (104) Total Campbell Soup Company shareholders' equity. 1,637 1,525 Noncontrolling interests . Total equity Total liabilities and equity 8 8 1,645 1,533 7,726 7,837 See accompanying Notes to Consolidated Financial Statements.
Financial Highlights (dollars in millions, except per share amounts) 2017 2016 =782 SY4 Results of Operations Net Sales 24 7,890 24 7,961 Gross Profit %24 24 2,780 3,059 38.8% %24 Percent of Sales 34.9% Earnings before interest and taxes Net earnings attributable to Campbell Soup Company Per share – diluted 24 2$ 24 1,400 960 24 %24 887 563 2.89 1.81 Other Information 1,491 24 1.248 24 2$ Net cash provided by operating activities Capital expenditures Dividends per share 1,291 %24 24 338 341 1.40 24 In 2017, Net earnings attributable to Campbell Soup Company included the following: a restructuring charge, related costs and administrative expenses of $37 ($0.12 per share) associated with restructuring and cost savings initiatives; gains of $116 ($0.38 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; impairment charges of $180 ($0.59 per share) related to the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit and the Garden Fresh Gourmet reporting unit; and a tax benefit and reduction to interest expense of $56 ($0.18 per share) primarily associated with the sale of intercompany notes receivable to a financial institution. WEBL upd In 2016, Net earnings attributable to Campbell Soup Company included the following: a restructuring charge and administrative expenses of $49 ($0.16 per share) associated with restructuring and cost savings initiatives; losses of $200 ($0.64 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; an impairment charge of $127 ($0.41 per share) related to the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit; and a gain of $25 ($0.08 per share) associated with a settlement of a claim related to the Kelsen acquisition. See below for a reconciliation of the impact of these items on reported results. Reconciliation of GAAP and Non-GAAP Financial Measures en R -12. The following information is provided to reconcile certain non-GAAP financial measures disclosed in the Letter to Shareholders to reported sales and earnings results. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be considered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical operating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales, which exclude the impact of currency, are a better indicator of our ongoing business performance. We also believe that the financial information excluding certain transactions not considered to be part of the ongoing business improves the comparability of year-to-year earnings results. Consequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. Recc (dollars in millions) 2017 2016 % Change ...PI Net Sales $ 7,890 $7,961 -1% Volume and Mix -1% Price and Sales Allowances 0% Promotional Spending -1% Organic Growth -1% Currency 0% otal -1% prdi M.m The sum of the individual amounts does not add due to rounding. 2017 2016 Earnings % Change EPS % Change Earnings Impact Diluted EPS Impact Earnings Impact Diluted EPS Impact 2017/2016 (dollars in millions, except per share amounts) Net earnings attributable to Campbell Soup Company, as reported Restructuring charges, implementation costs 2017/2016 -cor $ 887 $ 2.89 $563 $1.81 РМ. and other related costs 37 0.12 49 0.16 Pension and postretirement benefit mark-to-market adjustments (116) (0.38) 200 0.64 Impairment charges 180 0.59 127 0.41 Sale of notes (56) (0.18) Claim settlement (25) (0.08) Report Adjusted Net earnings attributable to Campbell Soup Company $ 932 $ 3.04 $914 $2.94 2% 3%
Transcribed Image Text:Financial Highlights (dollars in millions, except per share amounts) 2017 2016 =782 SY4 Results of Operations Net Sales 24 7,890 24 7,961 Gross Profit %24 24 2,780 3,059 38.8% %24 Percent of Sales 34.9% Earnings before interest and taxes Net earnings attributable to Campbell Soup Company Per share – diluted 24 2$ 24 1,400 960 24 %24 887 563 2.89 1.81 Other Information 1,491 24 1.248 24 2$ Net cash provided by operating activities Capital expenditures Dividends per share 1,291 %24 24 338 341 1.40 24 In 2017, Net earnings attributable to Campbell Soup Company included the following: a restructuring charge, related costs and administrative expenses of $37 ($0.12 per share) associated with restructuring and cost savings initiatives; gains of $116 ($0.38 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; impairment charges of $180 ($0.59 per share) related to the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit and the Garden Fresh Gourmet reporting unit; and a tax benefit and reduction to interest expense of $56 ($0.18 per share) primarily associated with the sale of intercompany notes receivable to a financial institution. WEBL upd In 2016, Net earnings attributable to Campbell Soup Company included the following: a restructuring charge and administrative expenses of $49 ($0.16 per share) associated with restructuring and cost savings initiatives; losses of $200 ($0.64 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; an impairment charge of $127 ($0.41 per share) related to the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit; and a gain of $25 ($0.08 per share) associated with a settlement of a claim related to the Kelsen acquisition. See below for a reconciliation of the impact of these items on reported results. Reconciliation of GAAP and Non-GAAP Financial Measures en R -12. The following information is provided to reconcile certain non-GAAP financial measures disclosed in the Letter to Shareholders to reported sales and earnings results. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be considered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical operating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales, which exclude the impact of currency, are a better indicator of our ongoing business performance. We also believe that the financial information excluding certain transactions not considered to be part of the ongoing business improves the comparability of year-to-year earnings results. Consequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. Recc (dollars in millions) 2017 2016 % Change ...PI Net Sales $ 7,890 $7,961 -1% Volume and Mix -1% Price and Sales Allowances 0% Promotional Spending -1% Organic Growth -1% Currency 0% otal -1% prdi M.m The sum of the individual amounts does not add due to rounding. 2017 2016 Earnings % Change EPS % Change Earnings Impact Diluted EPS Impact Earnings Impact Diluted EPS Impact 2017/2016 (dollars in millions, except per share amounts) Net earnings attributable to Campbell Soup Company, as reported Restructuring charges, implementation costs 2017/2016 -cor $ 887 $ 2.89 $563 $1.81 РМ. and other related costs 37 0.12 49 0.16 Pension and postretirement benefit mark-to-market adjustments (116) (0.38) 200 0.64 Impairment charges 180 0.59 127 0.41 Sale of notes (56) (0.18) Claim settlement (25) (0.08) Report Adjusted Net earnings attributable to Campbell Soup Company $ 932 $ 3.04 $914 $2.94 2% 3%
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