PINNACLE FOODS INC.

Delisted

CIK 0001564822Large AcceleratedFood And Kindred ProductsDelawareFY ends Dec 25

Period

FY 2017

Revenue

$3.14B

Net Income

$532.05M

Total Assets

$6.58B

Equity

$2.38B

Shares Out

119.19M

Op. Cash Flow

$415.95M

Business

PINNACLE FOODS INC. is a former operating company in Food and Kindred Products, incorporated in Delaware. Securities are no longer actively traded on a major U.S. exchange.

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Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31
Net sales	3,144	3,128	2,656	2,591	2,464
Cost of products sold	2,276	2,212	1,915	1,910	1,810
Gross profit	868	916	741	681	654
Marketing and selling expenses	193	218	177	177	176
Administrative expenses	131	163	107	117	120
Research and development expenses	16	18	13	11	11
Tradename impairment charges	67	11	0	0	—
Other expense, net	13	26	19	16	—
Total operating expenses	419	436	316	169	361
Earnings before interest and taxes	449	480	425	512	293
Interest expense	170	139	89	96	132
Interest income	153,000	145,000	198,000	121,000	141,000
Earnings before income taxes	279	341	336	—	—
(Benefit)/Provision for income taxes	−253	129	124	168	71
Net earnings	532	211	213	248	—
Less: Net earnings attributable to non-controlling interest	172,000	0	0	—	—
Net earnings attributable to Pinnacle Foods, Inc. and Subsidiaries common stockholders	532	211	213	248	89
Basic (in dollars per share)	4.5	1.81	1.83	2.15	0.84
Weighted average shares outstanding-basic (in shares)	118	117	116	116	107
Diluted (in dollars per share)	4.45	1.79	1.81	2.13	0.82
Weighted average shares outstanding- diluted (in shares)	120	118	117	117	109
Dividends declared (in dollars per share)	1.22	1.08	0.98	0.89	0.57

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31
Cash and cash equivalents	250	353	181	38	117
Accounts receivable, net of allowances of $10,036 and $12,335, respectively	282	290	220	191	165
Inventories	490	445	403	356	362
Other current assets	11	11	14	8	8
Total current assets	1,032	1,099	858	716	792
Plant assets, net of accumulated depreciation of $566,202 and $491,397, respectively	740	723	631	606	523
Tradenames	2,463	2,530	2,001	2,002	1,951
Other assets, net	165	173	120	158	186
Goodwill	2,178	2,163	1,714	1,720	1,628
Total assets	6,578	6,688	5,324	5,201	5,081
Short-term borrowings	3	2	2	2	2
Current portion of long-term obligations	34	24	15	12	25
Accounts payable	323	292	211	199	142
Accrued trade marketing expense	39	51	46	36	37
Accrued liabilities	122	167	101	106	100
Dividends payable	40	35	31	28	25
Total current liabilities	561	572	406	383	331
Long-term debt	2,926	3,140	2,257	2,286	2,476
Pension and other postretirement benefits	53	56	63	62	50
Other long-term liabilities	34	48	55	34	25
Deferred tax liabilities	624	923	—	—	—
Total liabilities	4,198	4,739	3,519	3,487	3,483
Commitments and contingencies (Note 14)	—	—	—	—	—
Pinnacle preferred stock: $.01 per share, 50,000,000 shares authorized, none issued	0	0	0	0	0
Pinnacle common stock: par value $.01 per share, 500,000,000 shares authorized; issued 120,018,215 and 119,127,269, respectively	1	1	1	1	1
Additional paid-in-capital	1,453	1,429	1,379	1,363	1,329
Retained earnings	987	601	517	420	276
Accumulated other comprehensive loss	−30	−52	−59	−38	−7
Capital stock in treasury, at cost, 1,000,000 common shares	−32	−32	−32	−32	0
Total Pinnacle Foods Inc. and Subsidiaries shareholders' equity	2,379	1,948	1,806	1,714	1,598
Noncontrolling interest	1	934,000	0	—	—
Total Equity	2,380	1,949	1,806	1,714	1,598
Total liabilities and shareholders' equity	6,578	6,688	5,324	5,201	5,081

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31
Depreciation and amortization	133	106	90	81	78
Charges resulting from the wind down of Boulder Brands United Kingdom operations	0	4	0	0	—
Amortization of debt acquisition costs and discount on term loan	5	10	6	7	—
Recognition of deferred costs related to refinancing	28	600,000	0	—	—
Change in value of financial instruments, including amounts reclassified from Accumulated Other Comprehensive Loss from settlement of hedges	21	−13	−2	13	−535,000
Equity based compensation expense	19	14	15	36	8
Pension expense, net of contributions	−2	−37,000	−5	−9	−9
Other long-term liabilities	−5	−3	5	—	—
Other long-term assets	0	−283,000	0	0	0
Foreign exchange (gains) losses	−1	−486,000	5	3	0
Excess tax benefits on equity-based compensation	0	−12	−1	−905,000	—
Deferred income taxes	−305	48	116	160	68
Other liabilities - cash settlement of hedges related to refinancing	−21	0	0	2	−2
Accounts receivable	9	−29	−31	−22	−21
Inventories	−43	24	−49	22	16
Accrued trade marketing expense	−12	5	11	−516,000	−7
Accounts payable	27	61	15	25	4
Accrued liabilities	−41	36	−7	−11	−17
Other current assets	7	14	−6	−1	−101,000
Net cash provided by operating activities	416	488	373	551	262
Business acquisition activity (net of cash acquired)	−37	−985	1	−169	−575
Capital expenditures	−94	−101	−108	−103	−84
Proceeds from sale of plant assets	2	0	2	2	7
Net cash used in investing activities	−130	−1,086	−106	−270	−652
Net proceeds from issuance of common stock	15	26	1	489,000	625
Dividends paid	−141	−123	−112	−102	−42
Proceeds from bank term loans	2,262	547	0	0	2,142
Proceeds from notes offerings	0	350	0	0	350
Repayments of long-term obligations	−2,492	−14	−9	−220	−1,736
Proceeds from short-term borrowings	0	4	4	5	5
Repayments of short-term borrowings	−5	−4	−4	−5	−5
Repayment of capital lease obligations	−7	−4	−4	−2	−3
Excess tax benefits on stock-based compensation	0	12	1	905,000	0
Taxes paid related to net share settlement of equity awards	−10	−1	−2	−3	0
Debt acquisition costs	−13	−23	0	−258,000	−23
Net cash (used in) provided by by financing activities	−390	771	−124	−358	414
Effect of exchange rate changes on cash	819,000	174,000	−922,000	−937,000	202,000
Net change in cash and cash equivalents	−103	173	142	−78	24
Interest paid	120	109	79	89	120
Interest received	153,000	145,000	145,000	121,000	141,000
Income taxes paid	57	32	19	8	3
New capital leases	12	18	0	1	2
New short-term financing	5	0	0	—	—
Accrued additions to plant assets	27	27	24	26	—

Filings

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Frequently asked questions

What is PINNACLE FOODS INC.'s CIK number?

PINNACLE FOODS INC.'s SEC CIK number is 0001564822 (1564822). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find PINNACLE FOODS INC.'s SEC filings?

All of PINNACLE FOODS INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

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