DOMTAR CORP UFS Income Statement

Domtar corp (UFS)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Sales
1,278	1,244	1,283	1,317	1,376	1,390	1,367	1,353	1,345	1,335	1,290	1,221	1,302	1,266	1,270	1,267	1,287	1,314	1,292	1,310	1,348	1,379	1,405	1,385	1,394	1,359	1,375	1,312	1,345	1,327	1,389	1,368	1,398	1,369	1,417	1,403	1,423	1,373	1,473	1,547	1,457	1,440	1,319
Operating expenses
Cost of sales, excluding depreciation and amortization
1,083	1,053	1,041	1,079	1,052	1,064	1,059	1,096	1,084	1,079	1,016	971	1,079	1,019	969	1,013	1,050	1,007	1,026	1,052	1,062	1,080	1,105	1,108	1,103	1,081	1,116	1,082	1,082	1,058	1,100	1,075	1,088	1,039	1,055	1,056	1,021	1,020	1,048	1,207	1,142	1,124	1,116
Depreciation and amortization
72	74	72	74	73	75	75	79	79	82	80	79	80	85	87	87	89	89	89	91	90	93	96	96	99	95	93	93	95	96	96	96	97	95	93	95	93	95	97	101	102	101	104
Selling, general and administrative
102	112	94	105	123	100	115	118	110	115	116	107	106	104	107	104	103	100	95	99	100	103	99	100	114	100	95	95	91	90	80	89	99	87	75	88	90	94	91	69	84	85	86
Impairment of long-lived assets (NOTE 11)
-	0	33	15	10	-	-	-	-	-	-	-	-	0	5	3	21	20	20	18	19	-	-	-	-	7	0	5	10	12	0	0	2	12	8	62	3	0	14	14	22	-	0
Closure and restructuring costs (NOTE 11)
-	19	11	8	4	-	-	-	-	-	-	-	-	-1	10	21	2	1	1	1	1	25	2	0	1	0	0	18	0	27	2	0	1	38	1	2	11	1	1	5	20	4	6
Other operating loss (income), net (NOTE 6)
-2	-1	-3	-2	1	-	-4	2	5	8	7	-2	1	0	0	0	-4	-3	0	13	-5	12	17	-2	2	17	-22	-49	-18	-1	-2	-2	-2	-7	2	-5	6	32	14	-55	29	169	132
Operating expenses
1,259	1,259	1,254	1,283	1,261	1,257	1,253	1,291	1,268	1,848	1,205	1,159	1,264	1,207	1,178	1,228	1,269	1,220	1,231	1,248	1,277	1,293	1,285	1,306	1,315	1,266	1,326	1,342	1,296	1,284	1,280	1,262	1,289	1,270	1,230	1,308	1,212	1,218	1,237	1,451	1,341	-1,145	-1,180
Operating income
19	-15	29	34	115	133	114	62	77	-513	85	62	38	59	92	39	18	94	61	62	71	86	120	79	79	93	49	-30	49	43	109	106	109	99	187	95	211	155	236	96	116	295	139
Interest expense, net
-14	-14	-12	-13	-13	-15	-15	-16	-16	-16	-16	-17	-17	-17	-17	-15	-17	-17	-64	-25	-26	-77	-25	-26	25	-156	21	21	25	22	20	18	71	20	25	21	21	29	24	70	32	34	23
Non-service components of net periodic benefit cost (NOTE 5)
4	-30	2	2	3	5	4	5	4	1	4	2	4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before income taxes and equity loss
9	-59	19	23	105	123	103	51	65	-528	73	47	25	57	75	24	1	77	-3	37	45	59	95	53	54	71	28	-51	24	21	89	88	38	79	162	74	190	126	212	26	84	261	116
Income tax expense (NOTE 7)
3	-26	-1	5	24	35	3	8	11	-142	3	9	5	10	16	6	-3	20	-14	-1	9	-12	-186	13	15	6	1	-5	-22	1	22	27	8	11	45	20	57	-199	21	-5	26	78	68
Equity loss, net of taxes
-1	-1	0	0	-1	-	-1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1	-1	-1	-2	-2	-	-	-	0	-	-	-	-	-	-
Net earnings
5	-34	20	18	80	87	99	43	54	-386	70	38	20	47	59	18	4	57	11	38	36	71	281	40	39	65	27	-46	45	19	66	59	28	61	117	54	133	325	191	31	58	183	48
Per common share (in dollars) (NOTE 4)
Basic
0.09	-0.52	0.33	0.29	1.27	1.39	1.57	0.68	0.86	-6.16	1.12	0.61	0.32	0.75	0.94	0.29	0.06	0.91	0.17	0.60	0.56	1.09	4.34	0.62	0.60	0.36	0.41	-0.69	1.29	-1.84	1.85	1.62	0.76	1.72	2.96	1.31	3.16	7.60	4.47	0.72	1.35	4.26	-
Diluted
0.09	-0.50	0.32	0.28	1.27	1.37	1.57	0.68	0.86	-6.15	1.11	0.61	0.32	0.75	0.94	0.29	0.06	0.91	0.17	0.60	0.56	1.10	4.33	0.61	0.60	0.35	0.41	-0.69	1.29	-1.82	1.84	1.61	0.76	1.69	2.95	1.30	3.14	7.51	4.44	0.71	1.34	4.24	-
Weighted average number of common shares outstanding (millions)
Basic
56	57	61	63	63	63	62	62	62	62	62	62	62	62	62	62	62	62	62	63	63	64	64	65	64	99	65	66	34	179	35	36	36	36	39	41	42	42	42	43	43	43	43
Diluted
56	57	61	63	63	63	63	63	62	62	62	62	62	62	62	62	62	63	63	63	63	64	64	65	65	99	65	66	34	179	35	36	37	37	39	41	42	43	43	43	43	43	43
Cash dividends per common share
0.46	0.44	0.46	0.44	0.44	0.42	0.44	0.44	0.42	0.40	0.42	0.42	0.42	0.41	0.42	0.40	0.40	0.40	0.40	0.40	0.37	0.46	0.28	0.28	0.27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net earnings
5	-34	20	18	80	87	99	43	54	-386	70	38	20	-	59	18	-	-	-	-	-	-	281	40	39	65	27	-46	45	19	66	59	28	61	117	54	133	325	191	31	58	183	48
Other comprehensive (loss) income (NOTE 12):
Net derivative (losses) gains on cash flow hedges:
Net (losses) gains arising during the period, net of tax of $16 (2019 – $(4))
-49	6	-9	3	11	-21	7	-7	-9	-	9	2	-	4	-6	9	20	-6	-19	2	-18	-18	-10	8	-3	-4	2	-9	1	-	6	-	-	-1	-17	1	4	-	-	-	-	-	-
Less: Reclassification adjustment for losses included in net earnings, net of tax of $(2) (2019 – nil)
-7	-3	-3	-1	-1	0	0	0	2	3	2	1	3	0	-1	-5	-8	-8	-7	-6	-5	-3	-2	-1	-2	-2	-2	0	-1	-7	-2	-2	3	-	-1	-2	-	-	-	-	-	-	-
Foreign currency translation adjustments
-74	33	-34	20	2	-42	12	-50	-11	4	60	67	15	-68	6	-30	85	-41	-58	43	-167	-70	-118	24	-36	-29	33	-33	-27	29	47	-34	-19	-129	89	-9	24	-	-	-	-	-	-
Change in unrecognized gains and prior service cost related to pension and post-retirement benefit plans, net of tax of $(1) (2019 – $(1))
-1	-27	-2	-2	-3	14	-2	-2	-2	-13	-2	-3	-2	37	-2	-2	-1	0	-1	-2	-2	-8	1	-3	-2	-85	-18	-16	-5	-	5	-	-	-	-	16	-	-	-	-	-	-	-
Other comprehensive (loss) income
-115	69	-38	26	17	-77	21	-55	-20	9	69	71	14	-101	3	-14	114	-39	-69	53	-178	-77	-127	36	-35	54	55	-26	-20	-94	50	-32	22	-	-107	-	-	-	-	-	-	-	-
Comprehensive (loss) income
-110	35	-18	44	97	10	120	-12	34	-377	139	109	34	-54	62	4	118	18	-58	91	-142	-6	154	76	4	119	82	-72	25	-75	116	27	50	52	10	78	161	-	-	-	-	-	-