← BROWN FORMAN CORP
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $669.0m | $717.0m | $835.0m | $827.0m | $903.0m | $838.0m | $783.0m | $1.0b | $869.0m | $715.0m | |
| Net Income (Loss) Available to Common Stockholders, Basic | $669.0m | $717.0m | $835.0m | $827.0m | $903.0m | $838.0m | $783.0m | $1.0b | $869.0m | $715.0m | |
| Depreciation and amortization | $58.0m | $64.0m | $72.0m | $74.0m | $77.0m | $79.0m | $80.0m | $87.0m | $87.0m | $92.0m | |
| Deferred Income Tax Expense (Benefit) | ($10.0m) | ($69.0m) | $38.0m | $39.0m | ($53.0m) | ($11.0m) | ($3.0m) | $18.0m | ($39.0m) | ($37.0m) | |
| Share-based Payment Arrangement, Noncash Expense | $14.0m | $19.0m | $14.0m | $11.0m | $12.0m | $15.0m | $18.0m | $25.0m | $28.0m | $32.0m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | $43.0m | $21.0m | $11.0m | — | — | — | — | |
| Goodwill, Impairment Loss | — | $0 | — | $0 | — | $0 | $0 | $0 | $0 | — | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | $2.0m | — | $13.0m | — | $52.0m | $96.0m | $7.0m | $47.0m | $132.0m | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | — | — | — | — | — | — | $0 | $0 | $78.0m | $0 | |
| Income Tax Expense (Benefit) | $264.0m | $260.0m | $207.0m | $182.0m | $178.0m | $276.0m | $234.0m | $274.0m | $212.0m | $170.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($6.0m) | $70.0m | ($23.0m) | ($12.0m) | $150.0m | $77.0m | $21.0m | ($88.0m) | $70.0m | ($25.0m) | |
| Increase (Decrease) in Inventories | $86.0m | $102.0m | $162.0m | $203.0m | $37.0m | $93.0m | $403.0m | $349.0m | $64.0m | $22.0m | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $0 | $0 | — | — | $127.0m | $0 | $0 | $267.0m | $0 | $0 | |
| Goodwill | $753.0m | $763.0m | $753.0m | $756.0m | $779.0m | $761.0m | $1.5b | $1.5b | $1.5b | $1.5b | |
| Inventory Write-down | — | — | — | — | — | — | — | — | $3.0m | — | |
| Investment Income, Interest | $3.0m | $6.0m | $8.0m | $5.0m | $2.0m | $5.0m | $9.0m | $14.0m | $17.0m | $14.0m | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $4.3b | $4.3b | $4.5b | $5.1b | $5.4b | $5.3b | $5.1b | $5.1b | |
| Other Operating Income (Expense), Net | $18.0m | $16.0m | $15.0m | ($11.0m) | $15.0m | ($59.0m) | ($119.0m) | ($24.0m) | $52.0m | $43.0m | |
| Net Cash Provided by (Used in) Operating Activities | $639.0m | $632.0m | $800.0m | $724.0m | $817.0m | $936.0m | $640.0m | $647.0m | $598.0m | $1.0b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $112.0m | $127.0m | $119.0m | $113.0m | $62.0m | $138.0m | $183.0m | $228.0m | $167.0m | $107.0m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $307.0m | $0 | $0 | $22.0m | $14.0m | $0 | $1.2b | $0 | $0 | — | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | ($11.0m) | ($23.0m) | ($31.0m) | ($66.0m) | ($3.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($422.0m) | ($128.0m) | ($119.0m) | ($141.0m) | $98.0m | ($127.0m) | ($1.4b) | $49.0m | $249.0m | ($71.0m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $717.0m | $595.0m | $0 | $0 | — | — | $648.0m | $0 | $0 | — | |
| Repayments of Long-term Debt | $0 | $250.0m | $0 | $0 | — | — | $250.0m | $0 | $300.0m | $0 | |
| Payments for Repurchase of Common Stock | $561.0m | $1.0m | $207.0m | $1.0m | $0 | $0 | — | $400.0m | $0 | $400.0m | |
| Payments of Ordinary Dividends, Common Stock | $274.0m | $773.0m | $310.0m | $325.0m | $338.0m | $831.0m | $378.0m | $404.0m | $420.0m | $427.0m | |
| Payments of Dividends | $274.0m | $773.0m | $310.0m | $325.0m | $338.0m | $831.0m | $378.0m | $404.0m | $420.0m | $427.0m | |
| Proceeds from (Payments for) Other Financing Activities | ($30.0m) | $0 | $0 | — | — | — | ($15.0m) | ($6.0m) | ($6.0m) | ($3.0m) | |
| Net Cash Provided by (Used in) Financing Activities | ($285.0m) | ($466.0m) | ($599.0m) | ($191.0m) | ($485.0m) | ($1.0b) | $239.0m | ($618.0m) | ($843.0m) | ($1.1b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | ($24.0m) | $45.0m | ($47.0m) | ($14.0m) | ($6.0m) | $3.0m | $9.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $368.0m | $475.0m | ($276.0m) | ($490.0m) | $72.0m | $7.0m | ($136.0m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | ($24.0m) | $45.0m | $874.0m | $384.0m | $456.0m | $463.0m | $327.0m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $48.0m | $65.0m | $90.0m | $83.0m | $79.0m | $80.0m | $85.0m | $125.0m | $119.0m | $101.0m | |
| Income Taxes Paid, Net | $266.0m | $200.0m | $201.0m | $143.0m | $204.0m | $226.0m | $278.0m | $242.0m | $303.0m | $232.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.