Consumer Discretionary › Mobile Homes
SKY Stock Price Correlated With Skyline Champion Financials
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Income Statement
Cash Flow
Balance Sheet
SKY Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
SKY Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
SKY Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
NOTE 1 Nature of Operations, Accounting Policies of Consolidated Financial Statements
The accompanying unaudited interim consolidated financial statements contain all adjustments
(consisting of only normal recurring adjustments) necessary to present fairly the consolidated
financial position as of August 31, 2011, in addition to the consolidated results of operations and
consolidated cash flows for the three-month periods ended August 31, 2011 and 2010. Due to the
seasonal nature of the Corporation’s business, interim results are not necessarily indicative of
results for the entire year.
The unaudited interim consolidated financial statements included herein have been prepared
pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information
and footnote disclosures normally accompanying the annual consolidated financial statements have
been omitted. The audited consolidated balance sheet as of May 31, 2011 and the unaudited interim
consolidated financial statements should be read in conjunction with the consolidated financial
statements and notes thereto included in the Corporation’s latest annual report on Form 10-K.
The following is a summary of the accounting policies that have a significant effect on the
Consolidated Financial Statements.
Investments — The Corporation invests in United States Government securities, which are
typically held until maturity and are therefore classified as held-to-maturity and carried at
amortized cost.
Accounts Receivable — Trade receivables are based on the amounts billed to dealers and
communities. The Corporation does not accrue interest on any of its trade receivables, nor does it
have an allowance for credit losses due to favorable collections experience. If a loss occurs, the
Corporation’s policy is to recognize it in the period when collectability cannot be reasonably
assured.
Inventories — Inventories are stated at the lower of cost or market. Cost is determined
under the first-in, first-out method. Physical inventory counts are taken at the end of each
reporting quarter.
Warranty — The Corporation provides the retail purchaser of its manufactured homes with a
full fifteen-month warranty against defects in design, materials and workmanship. Recreational
vehicles are covered by a one-year warranty. The warranties are backed by service departments
located at the Corporation’s manufacturing facilities and an extensive field service system.
Estimated warranty costs are accrued at the time of sale based upon current sales, historical
experience and management’s judgment regarding anticipated rates of warranty claims. The adequacy
of the recorded warranty liability is periodically assessed and the amount is adjusted as
necessary.
Property, Plant and Equipment — Property, plant and equipment are stated at cost.
Depreciation is computed over the estimated useful lives of the assets using the straight-line
method for financial statement reporting and accelerated methods for income tax reporting purposes.
Estimated useful lives for significant classes of property, plant and equipment, including idle
property, are as follows: Building and improvements 10 to 30 years; machinery and equipment 5 to 8
years. Idle property, net of accumulated depreciation represents the net book value of idle
manufacturing facilities in the following locations: Hemet, California; Ocala, Florida; Halstead,
Kansas; Mocksville, North Carolina and Ephrata, Pennsylvania.
Income Taxes — The Corporation recognizes deferred tax assets based on differences between
the carrying values of assets for financial and tax reporting purposes. The realization of the
deferred tax assets is dependent upon the generation of sufficient future taxable income.
Generally accepted accounting principles require that an entity consider both negative and positive
evidence in determining whether a
The accompanying unaudited interim consolidated financial statements contain all adjustments
(consisting of only normal recurring adjustments) necessary to present fairly the consolidated
financial position as of August 31, 2011, in addition to the consolidated results of operations and
consolidated cash flows for the three-month periods ended August 31, 2011 and 2010. Due to the
seasonal nature of the Corporation’s business, interim results are not necessarily indicative of
results for the entire year.
The unaudited interim consolidated financial statements included herein have been prepared
pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information
and footnote disclosures normally accompanying the annual consolidated financial statements have
been omitted. The audited consolidated balance sheet as of May 31, 2011 and the unaudited interim
consolidated financial statements should be read in conjunction with the consolidated financial
statements and notes thereto included in the Corporation’s latest annual report on Form 10-K.
The following is a summary of the accounting policies that have a significant effect on the
Consolidated Financial Statements.
Investments — The Corporation invests in United States Government securities, which are
typically held until maturity and are therefore classified as held-to-maturity and carried at
amortized cost.
Accounts Receivable — Trade receivables are based on the amounts billed to dealers and
communities. The Corporation does not accrue interest on any of its trade receivables, nor does it
have an allowance for credit losses due to favorable collections experience. If a loss occurs, the
Corporation’s policy is to recognize it in the period when collectability cannot be reasonably
assured.
Inventories — Inventories are stated at the lower of cost or market. Cost is determined
under the first-in, first-out method. Physical inventory counts are taken at the end of each
reporting quarter.
Warranty — The Corporation provides the retail purchaser of its manufactured homes with a
full fifteen-month warranty against defects in design, materials and workmanship. Recreational
vehicles are covered by a one-year warranty. The warranties are backed by service departments
located at the Corporation’s manufacturing facilities and an extensive field service system.
Estimated warranty costs are accrued at the time of sale based upon current sales, historical
experience and management’s judgment regarding anticipated rates of warranty claims. The adequacy
of the recorded warranty liability is periodically assessed and the amount is adjusted as
necessary.
Property, Plant and Equipment — Property, plant and equipment are stated at cost.
Depreciation is computed over the estimated useful lives of the assets using the straight-line
method for financial statement reporting and accelerated methods for income tax reporting purposes.
Estimated useful lives for significant classes of property, plant and equipment, including idle
property, are as follows: Building and improvements 10 to 30 years; machinery and equipment 5 to 8
years. Idle property, net of accumulated depreciation represents the net book value of idle
manufacturing facilities in the following locations: Hemet, California; Ocala, Florida; Halstead,
Kansas; Mocksville, North Carolina and Ephrata, Pennsylvania.
Income Taxes — The Corporation recognizes deferred tax assets based on differences between
the carrying values of assets for financial and tax reporting purposes. The realization of the
deferred tax assets is dependent upon the generation of sufficient future taxable income.
Generally accepted accounting principles require that an entity consider both negative and positive
evidence in determining whether a
Free historical financial statements for Skyline Champion Corp.. See how revenue, income, cash flow, and balance sheet financials have changed over 56 quarters since 2011. Compare with SKY stock chart to see long term trends.
Data imported from Skyline Champion Corp. SEC filings. Check original filings before making any investment decision.