The following table presents selected historical financial data for the successor periods consisting of the years ended December 31, 2019 and 2018, three months ended December 31, 2017, fiscal year ended September 30, 2017 and the period from December 4, 2015 through September 24, 2016, as well as the predecessor periods of September 27, 2015 through March 2, 2016 and the fiscal year ended September 26, 2015. These periods have been derived from our Audited Consolidated Financial Statements.
You should read this information along with the information included in Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Audited Consolidated Financial Statements and the related Notes thereto included elsewhere in this Annual Report on Form 10-K.
Successor
Predecessor
(in millions, except per share data)
Year Ended December 31, 2019
Year Ended December 31, 2018
Transition 2017
Fiscal 2017
December 4, 2015 through September 24, 2016
September 27, 2015 through March 2, 2016
Fiscal Year Ended September 26, 2015
Statements of Income Data:
Net sales
$
11,120
$
7,442
$
1,170
$
4,269
$
2,293
$
2,025
$
4,520
Gross profit
6,342
3,882
527
2,044
1,073
800
1,608
Income from operations
2,378
1,237
229
897
393
147
765
Net income(1)
1,254
589
619
383
109
100
499
Basic EPS(2)
$
0.89
$
0.54
$
0.77
$
0.48
$
0.19
$
0.66
$
3.17
Diluted EPS(2)
0.88
0.53
0.77
0.47
0.18
0.66
3.14
Dividends declared per share(3)
0.60
0.30
—
—
—
0.33
1.15
Statements of Cash Flows Data:
Cash provided by (used in):
Operating activities
$
2,474
$
1,613
$
385
$
1,749
$
280
$
837
$
755
Investing activities
(150
)
(19,131
)
(18
)
180
(13,772
)
(75
)
(498
)
Financing activities
(2,364
)
17,577
(620
)
(2,026
)
13,937
(647
)
(972
)
(1)
For Transition 2017, net income and basic and diluted earnings per share were impacted by the initial impact of the TCJA. Refer to Note 7 of the Notes to our Audited Consolidated Financial Statements for further information.
(2)
The weighted average number of shares of common stock outstanding used in the calculation of EPS during the year ended December 31, 2018 was impacted by the issuance of KDP common stock and the shares retained by the DPS stockholders. Refer to the Consolidated Statements of Changes in Stockholders' Equity and Note 1 of the Notes to our Audited Consolidated Financial Statements for further information. Additionally, EPS for periods owned by the predecessor were computed under the predecessor's ownership structure and were not adjusted as a result of the DPS Merger.
(3)
During the periods of Transition 2017, Fiscal 2017 and the Successor period of December 4, 2015 through September 24, 2016, the Company did not declare dividends on a per share basis, as Maple was a privately-held company. The Company declared and paid dividends of $10 million, $54 million and $10 million in the respective periods. Additionally, during the year ended December 31, 2018, prior to the DPS Merger, the Company declared and paid $23 million in dividends.
Successor
Predecessor
December 31,
September 30, 2017
September 24, 2016
September 26, 2015
(in millions)
2019
2018
2017
Balance Sheet Data:
Goodwill and other intangible assets, net
$
44,289
$
43,978
$
13,653
$
13,691
$
14,060
$
1,171
Total assets
49,518
48,918
15,744
16,107
16,609
4,002
Short-term borrowings and current portion of long-term obligations
filings.tools