Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Reynolds American Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Reynolds American Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Reynolds American Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31).
- Net Sales Composition
- The proportion of net sales excluding related party sales remained consistently high, fluctuating narrowly between approximately 96.88% and 99.03% over the periods, indicating a stable core revenue base. Related party sales showed a downward trend, decreasing from about 3.12% to less than 1% by March 2017, suggesting a reduction in intercompany transactions or internal sales.
- Cost of Products Sold and Excise Taxes
- Cost of products sold (excluding excise taxes) as a percentage of net sales exhibited variability, ranging mostly between -27.46% and -37.53%, without a clear linear trend, but generally showed some improvement starting in 2015 with lower percentages. Excise taxes steadily declined from around -32.32% in early 2012 to approximately -24.98% by March 2017, indicating a favorable reduction in these tax expenses relative to sales.
- Gross Profit Margin
- Gross profit margins demonstrated significant volatility, peaking notably during several quarters such as Mar 31, 2015 (41.66%) and especially Dec 31, 2016 (46.56%). Despite fluctuations, an overall trend of improvement is observed, with margins rising from about 32.88% in March 2012 to over 44% by late 2016, reflecting efficiency gains or improved pricing power.
- Selling, General and Administrative Expenses (SG&A)
- SG&A expenses displayed considerable instability, with frequent spikes in certain quarters (e.g., -23.25% in Dec 2014 and -17.64% in Mar 2015). The expense ratio mostly hovered between -10% and -17%, but these irregular peaks suggest occasional significant non-recurring charges or operational challenges impacting expense control.
- Non-Recurring Charges and Gains
- Exceptional items such as gains on divestitures showed dramatic swings, with a very large gain of 103.22% of net sales in Mar 2015, followed by a sharp decline and subsequent gains and losses, indicating sporadic impacts from asset sales. Similarly, asset impairment and restructuring charges appeared intermittently, with a notable trademark impairment charge of -4.22% in Dec 2012 and a restructuring charge of -5.22% in Mar 2012, reflecting occasional write-downs and organizational changes.
- Operating Income
- Operating income exhibited strong volatility but generally trended upward. Early quarters showed single-digit to low double-digit percentages, followed by extreme highs in Mar 2015 (128.73%) and Dec 2016 (155.61%), likely influenced by large gains on divestitures. Excluding these spikes, operating income maintained a majority positive stance around 20% to 35%, signaling solid operating profitability.
- Interest and Debt Expenses
- Interest and debt expenses as a percentage of net sales increased over time from approximately -1.8% in 2012 to around -3.79% by early 2017. This suggests a rising burden from financing costs, possibly due to increased debt levels or higher interest rates.
- Other Income and Expenses
- Other income or expense items were mostly minor but occasionally showed moderate fluctuations, such as a notable negative impact in Dec 2013 (-4.43%) and in Mar 2016 (-6.38%), indicating sporadic non-operating financial impacts.
- Income Before Tax and Tax Provision
- Income from continuing operations before income taxes followed a pattern similar to operating income, with clear spikes corresponding to periods of large gains on divestitures. Provision for income taxes was variable, often reflecting unusually low or even negative effective tax rates in quarters with exceptional gains, notably large negative tax provisions in Mar 2015 (-68.17%) and Mar 2016 (-54.57%), consistent with tax benefits from non-recurring items.
- Net Income Trends
- Net income mirrored income from continuing operations closely due to negligible discontinued operations, exhibiting strong volatility with peaks exceeding 50% of net sales during Mar 2015 and Mar 2016 periods. Aside from extraordinary quarters, net income remained positive and relatively stable around 10% to 20% of net sales, indicating effective profitability management during typical operating conditions.