The Boston Beer Company Annual Balance Sheet Period Ended 12/26/2015 12/27/2014 12/28/2013 Update Update Update 4/22/2016 4/22/2016 4/30/2015 In
Financial Report
For this part of the assessment, you will prepare a financial report in response to a hypothetical scenario:
A major global disaster (in this case an oil spill) has caused environmental damage and has affected global transportation as well. As the controller of your chosen company, you are tasked with providing a financial report to the board of directors addressing how this event will affect your company.
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A.
Analyze the effects of the global disaster on the financial statements of your chosen company using the financial information from your
company.
B.
Recommend strategies to address the effects of the disaster on your chosen company based on your analysis.
| The Boston Beer Company | |||
| Annual Balance Sheet | |||
| Period Ended | 12/26/2015 | 12/27/2014 | 12/28/2013 |
| Update | Update | Update | |
| 4/22/2016 | 4/22/2016 | 4/30/2015 | |
| In millions of USD | |||
| (except for per share items) | |||
| Cash & Equivalents | 94.19 | 76.4 | 49.52 |
| Cash and Short Term Investments | 94.19 | 76.4 | 49.52 |
| Accounts Receivable – Trade, Gross | 39.23 | 37 | 42.16 |
| Provision for Doubtful Accounts | -0.24 | -0.14 | -0.16 |
| Accounts Receivable – Trade, Net | 38.98 | 36.86 | 42 |
| Receivables – Other | 14.93 | 21.83 | 2.02 |
| Total Receivables, Net | 53.91 | 58.69 | 44.02 |
| Inventories – Finished Goods | 8.26 | 10.79 | 17.09 |
| Inventories – Work In Progress | 8.88 | 7.39 | 8.45 |
| Inventories – Raw Materials | 42.12 | 39.54 | 35.12 |
| Inventories – Other | -2.8 | -6.41 | -4.26 |
| Total Inventory | 56.46 | 51.31 | 56.4 |
| Prepaid Expenses | 9.84 | 11.59 | 8.27 |
| Deferred Income Tax – Current Asset | 6.98 | 8.69 | 5.71 |
| Other Current Assets | 2.22 | 0.79 | 0.35 |
| Other Current Assets, Total | 9.2 | 9.48 | 6.07 |
| Total Current Assets | 223.6 | 207.46 | 164.28 |
| Buildings – Gross | 113.87 | 85.02 | 51.83 |
| Land / Improvements – Gross | 25.14 | 23.99 | 23.26 |
| Machinery / Equipment – Gross | 478.21 | 444.97 | 334.6 |
| Property / Plant / Equipment, Total – Gross | 617.21 | 553.98 | 409.69 |
| Accumulated Depreciation, Total | -207.29 | -172.41 | -143.13 |
| Property / Plant / Equipment, Total – Net | 409.93 | 381.57 | 266.56 |
| Goodwill, Net | 3.68 | 3.68 | 3.68 |
| Other Long Term Assets | 8.19 | 12.45 | 9.56 |
| Other Long Term Assets, Total | 8.19 | 12.45 | 9.56 |
| Total Assets | 645.4 | 605.16 | 444.08 |
| Accounts Payable | 42.72 | 35.58 | 34.42 |
| Accrued Expenses | 30 | 32.99 | 38.73 |
| Notes Payable / Short Term Debt | 0 | 0 | 0 |
| Current Portion of Long Term Debt / Capital Leases | 0.06 | 0.06 | 0.05 |
| Customer Advances | 12.31 | 13.43 | 2.67 |
| Security Deposits | 18.87 | 19.67 | 19.45 |
| Income Taxes Payable | 3.95 | 6.03 | 8.83 |
| Other Current Liabilities | 3.25 | 2.42 | 0.23 |
| Other Current liabilities, Total | 38.38 | 41.55 | 31.17 |
| Total Current Liabilities | 111.16 | 110.17 | 104.38 |
| Long Term Debt | 0.47 | 0.53 | 0.58 |
| Total Long Term Debt | 0.47 | 0.53 | 0.58 |
| Total Debt | 0.53 | 0.58 | 0.64 |
| Deferred Income Tax – Long Term Liability | 56 | 50.72 | 32.39 |
| Deferred Income Tax | 56 | 50.72 | 32.39 |
| Other Long Term Liabilities | 16.55 | 7.61 | 4.64 |
| Other Liabilities, Total | 16.55 | 7.61 | 4.64 |
| Total Liabilities | 184.18 | 169.02 | 141.99 |
| Common Stock | 0.13 | 0.13 | 0.13 |
| Common Stock, Total | 0.13 | 0.13 | 0.13 |
| Additional Paid-In Capital | 290.1 | 224.91 | 173.03 |
| Retained Earnings (Accumulated Deficit) | 171.95 | 212.23 | 129.35 |
| Other Comprehensive Income | -0.95 | -1.13 | -0.42 |
| Other Equity, Total | -0.95 | -1.13 | -0.42 |
| Total Equity | 461.22 | 436.14 | 302.09 |
| Total Liabilities & Shareholders’ Equity | 645.4 | 605.16 | 444.08 |
| Shares Outstanding – Common Stock Primary Issue | 9.39 | 9.45 | 8.79 |
| Shares Outstanding – Common Issue 2 | 3.37 | 3.62 | 3.96 |
| Total Common Shares Outstanding | 12.76 | 13.07 | 12.75 |
| Treasury Shares – Common Stock Primary Issue | 0 | 0 | 0 |
| Treasury Shares – Common Issue 2 | 0 | 0 | 0 |
| Employees | 1,429.00 | 1,325.00 | 1,120.00 |
| Number of Common Shareholders | 10,248.00 | 11,256.00 | 12,362.00 |
| Deferred Revenue – Current | 12.31 | 13.43 | 2.67 |
| Total Current Assets less Inventory | 167.14 | 156.16 | 107.88 |
| Quick Ratio | 1.5 | 1.42 | 1.03 |
| Current Ratio | 2.01 | 1.88 | 1.57 |
| Net Debt | -93.66 | -75.82 | -48.89 |
| Tangible Book Value | 457.54 | 432.46 | 298.4 |
| Tangible Book Value per Share | 35.87 | 33.09 | 23.41 |
| Total Operating Leases, Supplemental | 17.52 | 7.26 | 9.4 |
| Operating Lease Payments Due in Year 1 | 2.66 | 2.26 | 2.73 |
| Operating Lease Payments Due in Year 2 | 2.81 | 1.6 | 2.04 |
| Operating Lease Payments Due in Year 3 | 2.81 | 1.6 | 1.94 |
| Operating Lease Payments Due in Year 4 | 2.48 | 0.51 | 0.98 |
| Operating Lease Payments Due in Year 5 | 2.48 | 0.51 | 0.57 |
| Operating Lease Payments Due in 2-3 Years | 5.62 | 3.2 | 3.98 |
| Operating Lease Payments Due in 4-5 Years | 4.96 | 1.01 | 1.54 |
| Operating Lease Payments Due in Year 6 & Beyond | 4.29 | 0.78 | 1.15 |
| Pension Obligation – Domestic | 4.11 | 4.09 | 2.89 |
| Post-Retirement Obligation | 0.67 | 0.72 | 0.51 |
| Plan Assets – Domestic | 2.47 | 2.4 | 2.23 |
| Funded Status – Domestic | -1.63 | -1.69 | -0.66 |
| Funded Status – Post-Retirement | -0.67 | -0.72 | -0.51 |
| Accumulated Obligation – Post-Retirement | 0.67 | 0.72 | 0.51 |
| Total Funded Status | -2.31 | -2.41 | -1.17 |
| Discount Rate – Domestic | 4.5 | 4 | 5 |
| Equity % – Domestic | 67 | 66 | 65 |
| Debt Securities % – Domestic | 33 | 34 | 35 |
| Total Plan Obligations | 4.78 | 4.81 | 3.39 |
| Total Plan Assets | 2.47 | 2.4 | 2.23 |
