colgate 2008ar

colgate 2008ar - Dollars in Millions Except Per Share...

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Dollars in Millions Except Per Share Amounts COLGATE Consolidated Statements of Income For the years ended December 31, 2008 2007 2006 Net sales $15,329.9 $13,789.7 $12,237.7 Cost of sales 6,703.5 6,042.3 5,536.1 Gross profit 8,626.4 7,747.4 6,701.6 Selling, general and administrative expenses 5,422.3 4,973.0 4,355.2 Other (income) expense, net 183.4 121.3 185.9 Operating profit 3,020.7 2,653.1 2,160.5 Interest expense, net 95.6 156.6 158.7 Income before income taxes 2,925.1 2,496.5 2,001.8 Provision for income taxes 967.9 759.1 648.4 Net income $1,957.2 $1,737.4 $1,353.4 Earnings per common share, basic $3.81 $3.35 $2.57 Earnings per common share, diluted $3.66 $3.20 $2.46 See Notes to Consolidated Financial Statements. Sales Forecast = FV= PV(1+g)^2 compound growth= 12%
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Kouros Vala BUS173A Vuorikoski-Bullis Forecast Basis Forecast for 2009 Sales Increase= 12% $17,157.19 Cash/Sales = 10% 44% X Sales 2009 = $7,502.54 Costs/2008 Sales = 44% 9,654.65 35% X Sales 2009 = $6,068.63 Selling expenses/2008 Sales = 35% 1% X Sales 2009 = 205.26 Other expenses/2008 Sales = 1% $5,863.37 (1.10) X Interest 2008 = 105.16 Interest= 10% $5,758.21 40% X 2009 EBT = $2,303.28 Tax rate = 40% $3,454.92
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Dol ars in Mil ions Except Per Share Amounts Kouros Vala BUS173A Vuorikoski-Bullis Consolidated Balance Sheets As of December 31, 2008 2007 Forecast Basis Forecast for 2009 2008 Sales = $15,329.90 Assets 2009 sales = $17,157.19 Current Assets Cash/2008 Sales = 4% Cash and cash equivalents $554.9 $428.7 4% X 2009 Sales = 621.04 Receivables (net of allowances of $47.4 and $50.6, respectively) 1,591.9 1,680.7 10% X 2009 Sales = $1,781.65 AR/2008 Sales = 10% Inventories 1,197.1 1,171.0 8% X 2009 Sales = $1,339.79 Inv/2008 Sales = 8% Other current assets 366.1 338.1 2% X 2009 Sales = $409.74 Other Assets/2008 Sales= 2% Total current assets 3,710.0 3,618.5 $4,152.22 Property, plant and equipment, net 3,119.5 3,015.2 20% X 2009 sales= $3,491.34 Net plant/2008 Sales= 20% Goodwill, net 2,152.0 2,272.0 14% X 2009 sales = $2,408.51 net goodwill/2008sales = 14% Other intangible assets, net 833.5 844.8 5% X 2009 sales= $932.85 intang.assets/2008 sales= 5% Other assets 164.3 361.5 1% X 2009 Sales = $183.88 other assets/2008 sales= 1% Total assets $9,979.3 $10,112.0 $11,168.81 Liabilities and Shareholders’ Equity Forecast Basis Forecast for 2009 Current Liabilities Notes and loans payable $107.2 $155.9 1% X 2009 sales = $119.98 NP/2008 Sales = 1% Current portion of long-term debt 91.0 138.1 1% X 2009 sales = $101.85 LTD/2008 Sales = 1% Accounts payable 1,061.4 1,066.8 7% X 2009 sales = $1,187.92 AP/2008 Sales = 7% Accrued income taxes 272.4 262.7 2% X 2009 sales = $304.87 accrued tax/2008sales = 2% Other accruals 1,421.3 1,539.2 9% X 2009 sales = $1,590.72 otheraccruals/2008sales = 9% Total current liabilities 2,953.3 3,162.7 $3,305.33 Long-term debt 3,585.3 3,221.9 Deferred income taxes 81.9 264.1 Other liabilities 1,436.7
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colgate 2008ar - Dollars in Millions Except Per Share...

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