Financial Statements

Covetrus, Inc. (CVET)


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Income Statement
Balance Sheet
Cash Flow

Income Statement

All numbers are in thousands , Years are calendar years not fiscal years

Retained Earning Schedule

Year 2021 2020 2019 2018 2017
Retained Earnings (Previous Year) -1,027-1,040---
Net Income -86-19-1,01910164
Stock Dividends 32381,153-101-64
Dividend Paid --6-1,174--
Retained Earnings -1,081-1,027-1,040--

PPE Schedule

Year 2021 2020 2019 2018 2017
Gross PPE 2331776965-
Annual Depreciation 1081141472685
Capital Expenditure -60-58-39-22-21
Net PPE 2812331776965

Intangible and Goodwill Schedule

Year 2021 2020 2019 2018 2017
Intangible and Goodwill (Previous Year) -7117501,1541,187
New Purchases -----81
Intangible and Goodwill 7117501,1541,1871,247

Covetrus, Inc. income statement is the only one that provides an overview of company sales and net income
The reasoning behind the adjustment, however, is that free cash flow is meant to measure money being spent right now, not transactions that happened in the past. This makes Covetrus, Inc. FCF a useful instrument for identifying growing companies with high up-front costs, which may eat into earnings now but have the potential to pay off later.