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Module 2: Introduction to Reformulation Patrick Noonan

Module 2: Introduction to Reformulation Patrick Noonan. Enterprise Operations vs. Financing Operations. Enterprise - Business or production activities undertaken by the company: Coffee production and distribution Keurig single cup coffee brewers

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Module 2: Introduction to Reformulation Patrick Noonan

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  1. Module 2: Introduction to Reformulation Patrick Noonan

  2. Enterprise Operations vs. Financing Operations • Enterprise - Business or production activities undertaken by the company: • Coffee production and distribution • Keurig single cup coffee brewers • Financing – The borrowing and lending activities undertaken by the company: • Revolving credit facility • Term loan • Other

  3. Key aspects of the original financial statements Green Mountain Coffee Roasters

  4. Computation of NEA and NFL Green Mountain Coffee Roasters

  5. Net Enterprise Assets 2013:2012: $3,500,896 $3,544,616

  6. Liquidity and Capital Resources • “We principally have funded our operations … under our credit facilities.” • $800m U.S. revolving credit • $200m all other currency revolving credit • Increase option for up to $500m in additional credit

  7. 2013:2012: $863,962 $813,131

  8. Net Financial Liabilities “Liquidity & Capital Resources” Cash in relation to the acquisition of Van Houtte Coffee – NOT available for use in operations.

  9. 2013:2012: $262,016 $541,430

  10. Check Figure – Common Shareholders’ Equity

  11. Computation of EPAT and FEAT Green Mountain Coffee Roasters

  12. Enterprise Profit After Tax 2013:2012:2011: $490,042$382,924 $243,617

  13. 2013:2012:2011: $(30,100)$25,427 $(13,131)

  14. Financing Expenses After Tax 2013:2012:2011: $(5,939)$(19,424) $(42,569)

  15. Questions Going Forward • Many of the line items have been classified as enterprise or not just off of basic assumptions. I think that going forward it will be beneficial to really dig into the notes and other information provided in the financial statements in order to classify each account as accurately as possible. • Will many of the accounts presented on the balance sheet and income statement be split, such as income tax expense in Module 2?

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