SOTHEBYS BID Income Statement

Sothebys (BID)

Income statement / Yearly

Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues:
Finance
43,887	50,937	52,716	50,489	33,013	21,277	17,707	12,038	9,685	9,073	14,183
License fees
-	-	-	-	-	6,902	6,124	5,228	3,682	3,270	3,438
Other
-	-	17,965	10,386	9,956	1,222	1,250	1,042	829	1,508	1,717
Revenues
1,035,740	1,057,380	805,377	961,494	938,053	853,678	768,492	831,836	774,309	484,958	691,559
Expenses:
Dealer cost of sales
-	-	-	-	-	-	-	-	24,889	24,516	61,978
Marketing
23,897	25,377	19,695	19,332	16,566	22,487	17,857	15,059	12,207	10,541	19,662
Salaries and related
342,687	318,555	307,659	302,825	310,934	297,450	273,273	268,530	253,271	196,269	240,126
General and administrative
180,360	172,950	161,356	159,148	158,796	175,458	158,220	161,097	132,566	123,350	176,004
Depreciation, Depletion and Amortization
27,048	24,053	21,817	19,481	20,575	19,435	17,942	17,604	16,492	21,560	24,845
Restructuring Charges
-	-	-	-	-	-	-2	4,830	-54	12,159	4,312
CEO separation and transition costs (see Note 23)
-	-	0	4,232	7,591	0	0	-	-	-	-
Special charges (net) (see Note 25)
-	-	-	-	20,008	1,400	0	-	-	-	-
Impairment loss
-	-	-	-	-	-	-	-	-	-	13,189
Antitrust related matters
-	-	-	-	-	-	-	-	-	-	-18,385
Total expenses
854,395	891,705	682,761	759,773	712,009	631,103	554,073	560,365	500,311	431,824	617,141
Operating (loss) income
181,345	165,675	122,616	201,721	226,044	222,575	214,419	271,471	273,998	53,134	74,418
Interest income
1,467	1,184	1,294	1,776	1,883	2,801	1,550	4,002	1,739	5,357	8,333
Interest expense
39,984	32,218	30,310	32,745	35,189	42,712	44,429	41,498	46,819	45,708	39,985
Write-off of credit facility fees
3,982	0	-	-	-	-	-	-	-	-3,750	-
Gain (Loss) on Extinguishment of Debt
-10,855	0	-	-	-	-	-15,020	-1,529	-6,291	1,039	5,364
Non-operating income
4,688	7,045	3,134	-1,453	283	3,029	2,916	-1,057	2,952	5,323	-2,956
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
132,679	141,686	96,734	169,299	193,021	185,693	159,436	231,389	225,579	15,395	45,174
Income tax (benefit) expense
27,652	25,415	25,957	131,145	75,761	55,702	51,395	60,032	65,273	22,162	20,857
Income (Loss) from Equity Method Investments
3,591	2,508	3,262	5,327	732	15	251	59	644	239	2,139
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
108,618	118,779	74,039	43,481	117,992	130,006	108,292	-	-	-	-
Less: Net loss attributable to noncontrolling interest
-16	-17	-73	-246	197	0	0	-	-	-	-
Net Income (Loss) Attributable to Parent
108,634	118,796	74,112	43,727	117,795	130,006	108,292	171,416	160,950	-6,528	26,456
Basic (loss) earnings per share - Sotheby’s common shareholders (USD per share)
2.10	2.22	1.28	0.64	1.69	1.90	1.59	2.52	2.37	-0.10	0.39
Diluted (loss) earnings per share - Sotheby's common shareholders (USD per share)
2.09	2.20	1.27	0.63	1.68	1.88	1.57	2.46	2.34	-0.10	0.38
Cash dividends declared per common share (usd per share)
-	-	0.00	0.40	4.74	0.20	0.52	0.23	0.20	0.30	0.60
Agency
Revenues from contracts with customers
891,774	809,571	671,833	791,920	825,126	793,639	717,231	791,738	731,021	448,768	616,625
Cost of Revenue
184,491	150,133	73,324	91,919	86,524	84,594	65,665	69,507	60,940	43,429	95,410
Inventory sales
Revenues from contracts with customers
80,808	178,982	62,863	108,699	69,958	30,638	-	-	-	-	-
Cost of Revenue
81,103	181,487	81,782	111,090	68,037	30,307	21,118	23,738	-	-	-
Other
Revenues from contracts with customers
19,271	17,890	-	-	-	-	26,180	21,790	29,092	22,339	55,596
Financial Service [Member]
Cost of Revenue
4,056	19,312	17,738	15,780	8,740	0	0	-	-	-	-
2014 Restructuring plan
Restructuring charges, net
10,753	0	0	-	-	-	-	-	-	-	-
Voluntary separation incentive programs
Restructuring charges, net
0	-162	-610	-	-	-	-	-	-	-	-