|
|
The financial statements of
Tootsie Roll are presented below.
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data) |
|
|
|
For the year ended December 31, |
|
|
|
2011 |
|
2010 |
|
2009 |
|
|
Net product sales |
|
$528,369 |
|
|
$517,149 |
|
|
$495,592 |
|
|
|
Rental and royalty revenue |
|
4,136 |
|
|
4,299 |
|
|
3,739 |
|
|
|
Total revenue |
|
532,505 |
|
|
521,448 |
|
|
499,331 |
|
|
|
Product cost of goods sold |
|
365,225 |
|
|
349,334 |
|
|
319,775 |
|
|
|
Rental and royalty cost |
|
1,038 |
|
|
1,088 |
|
|
852 |
|
|
|
Total costs |
|
366,263 |
|
|
350,422 |
|
|
320,627 |
|
|
|
Product gross margin |
|
163,144 |
|
|
167,815 |
|
|
175,817 |
|
|
|
Rental and royalty gross margin |
|
3,098 |
|
|
3,211 |
|
|
2,887 |
|
|
|
Total gross margin |
|
166,242 |
|
|
171,026 |
|
|
178,704 |
|
|
|
Selling, marketing and administrative expenses |
|
108,276 |
|
|
106,316 |
|
|
103,755 |
|
|
|
Impairment charges |
|
— |
|
|
— |
|
|
14,000 |
|
|
|
Earnings from operations |
|
57,966 |
|
|
64,710 |
|
|
60,949 |
|
|
|
Other income (expense), net |
|
2,946 |
|
|
8,358 |
|
|
2,100 |
|
|
|
Earnings before income taxes |
|
60,912 |
|
|
73,068 |
|
|
63,049 |
|
|
|
Provision for income taxes |
|
16,974 |
|
|
20,005 |
|
|
9,892 |
|
|
|
Net earnings |
|
$43,938 |
|
|
$53,063 |
|
|
$53,157 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings |
|
$43,938 |
|
|
$53,063 |
|
|
$53,157 |
|
|
|
Other comprehensive earnings (loss) |
|
(8,740 |
) |
|
1,183 |
|
|
2,845 |
|
|
|
Comprehensive earnings |
|
$35,198 |
|
|
$54,246 |
|
|
$56,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retained earnings at beginning of year. |
|
$135,866 |
|
|
$147,687 |
|
|
$144,949 |
|
|
|
Net earnings |
|
43,938 |
|
|
53,063 |
|
|
53,157 |
|
|
|
Cash dividends |
|
(18,360 |
) |
|
(18,078 |
) |
|
(17,790 |
) |
|
|
Stock dividends |
|
(47,175 |
) |
|
(46,806 |
) |
|
(32,629 |
) |
|
|
Retained earnings at end of year |
|
$114,269 |
|
|
$135,866 |
|
|
$147,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share |
|
$0.76 |
|
|
$0.90 |
|
|
$0.89 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Common and Class B Common shares outstanding |
|
57,892 |
|
|
58,685 |
|
|
59,425 |
|
|
(The accompanying notes are an integral part of these statements.) |
|
|
CONSOLIDATED STATEMENTS OF Financial Position TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data) |
|
Assets |
|
December 31, |
|
|
|
|
|
2011 |
|
2010 |
|
|
CURRENT ASSETS: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$78,612 |
|
|
$115,976 |
|
|
|
|
Investments |
|
10,895 |
|
|
7,996 |
|
|
|
|
Accounts receivable trade, less allowances of $1,731 and $1,531 |
|
41,895 |
|
|
37,394 |
|
|
|
|
Other receivables |
|
3,391 |
|
|
9,961 |
|
|
|
|
Inventories: |
|
|
|
|
|
|
|
|
|
Finished goods and work-in-process |
|
42,676 |
|
|
35,416 |
|
|
|
|
Raw materials and supplies |
|
29,084 |
|
|
21,236 |
|
|
|
|
Prepaid expenses |
|
5,070 |
|
|
6,499 |
|
|
|
|
Deferred income taxes |
|
578 |
|
|
689 |
|
|
|
|
Total current assets |
|
212,201 |
|
|
235,167 |
|
|
|
PROPERTY, PLANT AND EQUIPMENT, at cost: |
|
|
|
|
|
|
|
|
|
Land |
|
21,939 |
|
|
21,696 |
|
|
|
|
Buildings |
|
107,567 |
|
|
102,934 |
|
|
|
|
Machinery and equipment |
|
322,993 |
|
|
307,178 |
|
|
|
|
Construction in progress |
|
2,598 |
|
|
9,243 |
|
|
|
|
|
|
455,097 |
|
|
440,974 |
|
|
|
|
Less—Accumulated depreciation |
|
242,935 |
|
|
225,482 |
|
|
|
|
Net property, plant and equipment |
|
212,162 |
|
|
215,492 |
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Publisher2021-07-06 14:25:482021-07-06 14:25:48need assistance questions 5 6 7 and 8 only
research Management Information Systems (MGMT305)
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