Brown-Forman Corporation – Company Information

Company Brown-Forman Corporation
Headquarters 850 Dixie Highway Louisville 40210, Kentucky, USA
Chairman and CEO Paul C. Varga
CFO Jane C. Morreau
Industry Spirits, Wines
Founder George Garvin Brown
Founded 1870
Type Public
NYSE stock symbol BF.A and BF.B
Revenue $4.096 billion (2015)
Net income $684 million (2015)
Earnings per share $3.21 USD (2015)
Employees 4,400 (2015)
Investor relations contact number: 781-575-4735
Investor relations email: [email protected]

The Brown-Forman Corporation is one of America’s largest spirits and wine companies, based in Louisville, Kentucky.

The company was founded in 1870 by George Garvin Brown, a young pharmaceuticals salesman, who sold top-grade whiskey in sealed glass bottles.

Brown’s company became well known for producing the country’s first bottled bourbon (Old Forester Kentucky Straight Bourbon Whisky).

Brown-Forman went public in 1933 on the New York Stock Exchange – the same year the prohibition ended – providing the company with enough capital to increase its strength in the American market.

It is now one of the top 10 largest global spirits companies, selling its products in over 135 countries, with the help of over 4,000 employees.

Brown-Forman has a portfolio of more than 25 brands of wines and spirits, including iconic brand names such as: Jack Daniel’s, Southern Comfort, Woodford Reserve Bourbon, Old Forester, el Jimador, Herradura, Early Times, Tuaca, Finlandia Vodka, Canadian Mist, Chambord, and Korbel champagne.

Operating data (in $ millions) 2015* 2014*
Net sales $4,096 $3,946
Cost of sales $951 $913
Gross profit $2,183 $2,078
Advertising expenses $437 $436
Selling, general, and administrative expenses $697 $686
Other (income) expense, net $22 $(15)
Operating income $1,027 $971
Income before income taxes $1,002 $947
Net income $684 $659
Comprehensive income $572 $682
Balance sheet data (in $ millions)
Total assets $4,193 $4,103
Total liabilities $2,288 $2,071
Total stockholders’ equity $2,032 $1,905
Common share data (in $)
Basic earnings per share $3.23 $3.08
Diluted earnings per share $3.21 $3.06
Cash flow data (in $ millions)
Cash provided by operating activities $608 $649
Cash used for investing activities $(125) $(127)
Cash used for financing activities $(531) $(288)
Cash and cash equivalents, beginning of period $437 $204
Cash and cash equivalents, end of period $370 $437

*Years Ended April 30

Source: “Brown-Forman Corporation Form 10-K 2015”