BMS » Topics » Capital Structure

This excerpt taken from the BMS 8-K filed Jan 28, 2010.

Capital Structure

Total debt to total capitalization was 38.7 percent at December 31, 2009, compared to 31.5 percent at December 31, 2008.  Total debt as of December 31, 2009 was $1.3 billion, an increase of $572.2 million from the balance of $686.6 million at December 31, 2008.  This increase in debt reflects $800.0 million of public bonds issued in July 2009 associated with financing for the pending Alcan Packaging Food Americas acquisition, net of a reduction in commercial paper and other debt outstanding.  Excluding the $800.0 million of public bonds and $202.8 million of common stock issued for acquisition financing, total debt to total capitalization would have been 20.5 percent at December 31, 2009.

 

This excerpt taken from the BMS 8-K filed Oct 27, 2009.

Capital Structure

Total debt to total capitalization was 40.4 percent at September 30, 2009, compared to 31.5 percent at December 31, 2008.  Total debt as of September 30, 2009 was $1.3 billion, an increase of $630.1 million from the balance of $686.6 million at December 31, 2008.  This increase in debt reflects $800.0 million of public bonds issued in July 2009 associated with acquisition financing , net of a reduction in commercial paper and other debt outstanding, which was funded with cash from operations.  Excluding the $800.0 million of public bonds and $202.8 million of common stock issued for acquisition financing, total debt to total capitalization would have been 22.9 percent at September 30, 2009.

 

This excerpt taken from the BMS 8-K filed Jul 17, 2009.

Capital Structure

 

Total debt to total capitalization was 26.3 percent at June 30, 2009, compared to 31.5 percent at December 31, 2008.  Total debt as of June 30, 2009 was $592.1 million, a decrease of $94.5 million from the balance of $686.6 million at December 31, 2008.  Strong cash flow from operations of $267.2 million for the first six months of 2009 was primarily driven by concerted efforts to reduce working capital.

 

This excerpt taken from the BMS 8-K filed Apr 28, 2009.

Capital Structure

 

Total debt to total capitalization was 29.1 percent at March 31, 2009, compared to 31.5 percent at December 31, 2008.  Total stockholders’ equity as of December 31, 2008, has been recast in accordance with FAS 160 as noted above.  Total debt as of March 31, 2009 was $617.4 million, a decrease of $69.2 million from the balance of $686.6 million at December 31, 2008.  Strong cash flow from operations of $148.3 million for the first quarter of 2009 benefited from our concerted efforts to reduce working capital by a total of $52.8 million.

 

This excerpt taken from the BMS 8-K filed Oct 28, 2008.

Capital Structure

 

Total debt to total capitalization was 32.5 percent at September 30, 2008, compared to 32.9 percent at December 31, 2007.  Total debt as of September 30, 2008 was $826.3 million, a decrease of $17.0 million from the balance of $843.3 million at December 31, 2007.  Cash flow from operations was $78.6 million in the third quarter of 2008.  Increased working capital levels primarily reflect higher raw material costs and selling prices.  We expect working capital levels to be reduced during the fourth quarter.

 



 

This excerpt taken from the BMS 8-K filed Jul 29, 2008.

Capital Structure

Total debt to total capitalization was 32.0 percent at June 30, 2008, compared to 32.9 percent at December 31, 2007.   Total debt as of June 30, 2008 was $863.0 million, an increase of $19.7 million from the balance of $843.3 million at December 31, 2007.  Cash flow from operations was $72.4 million in the second quarter of 2008.  Increased working capital levels were driven by rising raw material costs and had a negative effect on cash flow from operations during the second quarter.

 

This excerpt taken from the BMS 8-K filed Apr 29, 2008.

Capital Structure

 

Total debt to total capitalization was 33.4 percent at March 31, 2008, compared to 32.9 percent at December 31, 2007.   Total debt as of March 31, 2008 was $875.8 million, an increase of $32.5 million from the balance of $843.3 million at December 31, 2007.  Cash flow from operations was $55.6 million in the first quarter of 2008.

 

This excerpt taken from the BMS 8-K filed Jul 31, 2007.

Capital Structure

Total debt to total capitalization was 32.9 percent at June 30, 2007, compared to 33.0 percent at December 31, 2006.   Total debt as of June 30, 2007 was $823.4 million, an increase of $33.6 million from the balance of $789.8 million at December 31, 2006.  Cash flow from operations was $114.9 million in the second quarter of 2007.

This excerpt taken from the BMS 8-K filed Apr 26, 2007.

Capital Structure

Total debt to total capitalization was 34.6 percent at March 31, 2007, compared to 33.0 percent at December 31, 2006.   Total debt as of March 31, 2007 was $854.4 million, an increase of $64.6 million from the balance of $789.8 million at December 31, 2006.  Cash flow from operations was $76.1 million in the first quarter of 2007, a 55.1 percent increase from the first quarter of 2006.  During the quarter, cash flow from operations was used to fund a dividend increase and the repurchase of one million shares of Bemis common stock.  In addition, capital expenditures were above historical quarterly spending levels due to the carryover to 2007 of about $20 million of spending which had been originally planned for the fourth quarter of 2006.  Bemis historically generates the highest levels of cash flow from operating activities during the second and third quarters of the year.

This excerpt taken from the BMS 8-K filed Jan 25, 2007.

Capital Structure

Total debt to total capitalization was 33.0 percent at December 31, 2006, compared to 35.8 percent at December 31, 2005.   Total debt as of December 31, 2006 was $789.8 million, a decrease of $54.3 million from the balance of $844.1 million at December 31, 2005.  Effective December 31, 2006, Bemis adopted Statement of Financial Accounting Standards No. 158, “Accounting for Pensions”, which had the effect of reducing stockholder’s equity by $63.8 million and deferred taxes by $40.0 million.  This adjustment increased the ratio of debt to total capitalization at December 31, 2006 by 1.2 percent.  Cash flow from operating activities totaled a record $338.3 million in 2006, a 21 percent increase from 2005.  Strong cash flows throughout 2006 were used to support increased dividend payments, a $158.8 million capital expenditures program, a $17.8 million share repurchase program, and $54.3 million of debt reduction.  During the fourth quarter of 2006, Bemis made tax-deductible, voluntary pension contributions totaling $24.0 million to its U.S. pension plans.

This excerpt taken from the BMS 8-K filed Oct 25, 2006.

Capital Structure

Total debt to total capitalization was 32.2 percent at September 30, 2006, compared to 35.7 percent at December 31, 2005.   Total debt as of September 30, 2006 was $781.7 million, a decrease of $62.4 million from the balance of $844.1 million at December 31, 2005.  Strong cash flows for the nine months ended September 30, 2006, were used to support dividend payments, a strong 2006 capital expenditure program, share repurchases and debt reduction.

This excerpt taken from the BMS 8-K filed Jul 27, 2006.

Capital Structure

Total debt to total capitalization was 34.4 percent at June 30, 2006, compared to 35.7 percent at December 31, 2005.   Total debt as of June 30, 2006 was $845.8 million, almost equal to the balance of $844.1 million at December 31, 2005.  Strong cash flows for the six months ended June 30, 2006, were used to support seasonally higher working capital levels at the end of the second quarter, dividend payments, a strong capital expenditure program, and first quarter share repurchases.   Management expects cash flow from operations in the second half of 2006 to be comparable to the first six months.

This excerpt taken from the BMS 8-K filed Apr 27, 2006.

Capital Structure

 

Total debt to total capitalization was 36.4 percent at March 31, 2006, compared to 35.8 percent at December 31, 2005. Total debt as of March 31, 2006 was $889.7 million, an increase of $45.6 million from December 31, 2005. Increased borrowing reflects higher levels of working capital at the end of the first quarter as the business prepares for the seasonally strong second quarter. During the first quarter of 2006, Bemis also repurchased 600,000 shares of common stock in the open market for $17.8 million under a 10b5-1 plan established to offset the dilutive impact of stock awards on an annual basis. As of March 31, 2006, the remaining balance of the Board authorization for common stock repurchases is 2.2 million shares.

 

This excerpt taken from the BMS 8-K filed Jan 27, 2006.

Capital Structure

Total debt to total capitalization was 35.8 percent at the end of 2005 compared to 26.7 percent at the end of 2004.  During 2005, Bemis used cash flow and debt financing to fund the $250.0 million acquisition in South America, repurchase 1.9 million shares of common stock totaling $49.5 million, support $187.0 million of capital expenditures and make tax-deductible, voluntary pension contributions totaling $35.0 million.   Cash flow provided by operating activities was $277.0 million in 2005, a modest increase from $271.5 million in 2004.

 

 



 

This excerpt taken from the BMS 8-K filed Jan 25, 2006.

Capital Structure

Total debt to total capitalization was 35.8 percent at the end of 2005 compared to 26.7 percent at the end of 2004.  During 2005, Bemis used cash flow and debt financing to fund the $250.0 million acquisition in South America, repurchase 1.9 million shares of common stock totaling $49.5 million, support $187.0 million of capital expenditures and make tax-deductible, voluntary pension contributions totaling $35.0 million.   Cash flow provided by operating activities was $277.0 million in 2005, a modest increase from $271.5 million in 2004.

 



 

This excerpt taken from the BMS 8-K filed Oct 26, 2005.

Capital Structure

Total debt as of September 30, 2005, was $839.2 million, an increase of $299.6 million from December 31, 2004.  This increase primarily reflects the impact of the January 2005 acquisition of Dixie Toga for about $250 million cash price and $32.9 million of assumed debt.  Debt to total capitalization was 35.2 percent at September 30, 2005, compared to 26.7 percent at December 31, 2004.

 

This excerpt taken from the BMS 8-K filed Jul 27, 2005.

Capital Structure

Total debt as of June 30, 2005 was $845.8 million, an increase of $306.2 million from December 31, 2004.  This increase primarily reflects the impact of the January 2005 acquisition of Dixie Toga for about $250 million cash price and $32.9 million of assumed debt.  Debt to total capitalization was 35.4 percent at June 30, 2005, compared to 26.7 percent at December 31, 2004.

 



 

This excerpt taken from the BMS 8-K filed Apr 21, 2005.

Capital Structure

Total debt as of March 31, 2005 was $857.9 million, an increase of $318.2 million from December 31, 2004.  This increase primarily reflects the impact of the January 2005 acquisition of Dixie Toga for about $250 million cash price and $33.7 million of assumed debt.  Increased raw material costs and product selling prices have also increased working capital compared to the same quarter of 2004.  Debt to total capitalization was 36.4 percent at March 31, 2005, compared to 26.7 percent at December 31, 2004.

 

This excerpt taken from the BMS 8-K filed Jan 26, 2005.

Capital Structure

Total debt to total capitalization was 26.7 percent at the end of the year compared to 31.4 percent at the end of 2003.  During 2004, the Company used strong cash flow to reduce outstanding debt by $43.1 million, fund a $30.7 million acquisition in Mexico, and make tax-deductible, voluntary pension contributions totaling $50.0 million.   Cash flow provided by operating activities was $271.5 million in 2004, a decrease compared to $311.1 million in 2003, due primarily to increased levels of working capital.  Higher raw material prices increased inventory and accounts receivable balances during the latter half of 2004.

 

On January 5, 2005, Bemis acquired the majority ownership of Dixie Toga for a cash price of approximately $250 million. The purchase price was initially financed with commercial paper and, combined with a small amount of debt assumed in the acquisition, Bemis’ debt to total capitalization ratio increased on that date to approximately 36 percent.

 

"Capital Structure" elsewhere:

SPX Corporation (SPW)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki