This problem is based on the 2020 annual report of Campbell Soup Company. Answer the following questions. Refer to the Selected financial data (see page 16. The PDF in the link may not be accessible.) for parts (a) to (d).
Required:
Find the net sales in 2017.
Note: Enter your answer in millions.
Calculate the operating income (earnings before interest and taxes) in 2016.
Note: Enter your answer in millions.
Calculate the difference between operating income (earnings before interest and taxes) and net income (net earnings) in 2018.
Note: Enter your answer in millions.
Find the year(s) in which net income (net earnings) decreased compared to the previous year.
Find the amount of interest paid for 2020 in the Interest paid. (See page 83. The PDF in the link may not be accessible.).
Note: Enter your answer in millions.
Find the number of stock options exercisable at August 2, 2020 in the Stock options. (See page 78. The PDF in the link may not be accessible.).
Note: Enter your answer in thousands.
Find the net sales to customers outside the United States for 2020 in the Geographic segment information. (See page 56. The PDF in the link may not be accessible.).
Note: Enter your answer in millions.
Find the cost of products sold for the third quarter of 2020 in the Quarterly data. (See page 84. The PDF in the link may not be accessible.).
Note: Enter your answer in millions.
Item 6. Selected Financial Data Fiscal Year (Millions, except per share): Summary of Operations Net sales Earnings before interest and taxes Earnings before taxes Earnings from continuing operations Earnings (loss) from discontinued operations Net earnings Net earnings attributable to Campbell Soup Company Financial Position Total assets Total debt Total equity Per Share Data Earnings from continuing operations attributable to Campbell Soup Company - basic Earnings from continuing operations attributable to Campbell Soup Company - assuming dilution
$8,691 $8,107 $6,615 $5,837 $5,86$ 1,107 66 1,010 1,431 865 766 625 830 1,316 751 592 474 924 509 1,036 (263) (463) (37) 54 1,628 211 261 887 95 1,628 211 261 887 95
$12,372 $13,148 $14,529 $7,726 $7,837 6,196 8,712 9,894 3,536 3,533 2,569 1,112 1,373 1,645 1,533
1,96 $1.57 $2.41 $3.03 $1.65
1.95 1.57 5.39 .70 5.36 0L' 1.40 1.40
2.40 .87
10'1 167 2.89 1.40
1.64 1.82 1.81 1.248
This problem is based on the 2020 annual report of Campbell Soup Company. Answer the following questions. Refer to the Selected financial data (see page 16. The PDF in the link may not be accessible.) for parts (a) to (d).
Net earnings attributable to Campbell Soup Company - as dilution . Dividends declared Other Statistics Capital expenditures Weighted average shares outstanding - basic Weighted average shares outstanding - assuming dilution
.86 1.40
Required: a. Find the net sales in 2017. Note: Enter your answer in millions. b. Calculate the operating income (earnings before interest and taxes) in 2016. Note: Enter your answer in millions. c. Calculate the difference between operating income (earnings before interest and taxes) and net income (net earnings) in 2018. Note: Enter your answer in millions.
299 202 304
384 101 302
407 301 202
338
341 309 311
307
(All per share amounts below are on a diluted basis) In February 2016, the Financial Accounting Standards Board (FASB) issued guidance that amends accounting for leases. In July 2018, the FASB issued an adoption approach that allows entities to apply the new guidance and recognize a cumulative- effect adjustment to the opening balance of retained camings in the period of adoption without restating prior periods. We adopted the guidance in 2020 using this transition method. In May 2014, the FASB issued revised guidance on the recognition of revenue from contracts with customers. We adopted the guidance in 2019 using the modified retrospective method
e. Find the amount of interest paid for 2020 in the Interest.paid, (See page 83. The PDF in the link may not be accessible.). Note: Enter your answer in millions. f. Find the number of stock options exercisable at August 2, 2020 in the Stock options, (See page 78. The PDF in the link may not be accessible.). Note: Enter your answer in thousands. g. Find the net sales to customers outside the United States for 2020 in the Geographic segment information, (See page 56. The PDF in the link may not be accessible.). Note: Enter your answer in millions.
postretirement benefit cost. The guidance also allows only the service cost component to be eligible for capitalization when applicable (for example, as a cost of internally manufactured inventory). We adopted the guidance in 2018 and retrospectively adjusted prior periods In March 2016, the FASB issued guidance that amends accounting for share-based payments, including the accounting for income taxes, forfeitures, and statutory withholding requirements, as well as classification in the statement of cash flows. We spouad soud pasnfpe Aqasnsodsonar pue 10z ug asueping aqs paydope The 2020 fiscal year consisted of 53 weeks. All other periods had 52 weeks 10 The 2020 earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and costs of $52 milion (S.17 per share) ssociated with restructuring and cost savings initiatives; losses of $92 million ($.30 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; pension settlement charges of $33 million ($.11 per share); a loss of $35 million ($.12 per share) associated with the sale of our limited partnership interest in Acre Venture Partners, L.P.; a loss of S37 million ($.12 per share) on the sale of the European chips business; and a loss of $57 million ($.19 per share) on the extinguishment of debt. Earnings from discontinued operations were impacted by net gains of $1,000 million ($3.29 per share) associated with the
accessible.). Note: Enter your answer in millions.
a. Net sales b. Operating income c. Difference d. Year(s) e. Amount of interest paid f. Number of stock options exercisable g. Net sales h. Cost of products
million million nillion
million thousand milion
16
