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GuruFocus has detected 5 Warning Signs with The Hershey Co $HSY.
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The Hershey Co (NYSE:HSY)
Cash from Financing
$-418 Mil (TTM As of Sep. 2016)

Cash from financing is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders.

For the three months ended in Sep. 2016, The Hershey Co paid $0 Mil more to buy back shares than it received from issuing new shares. It received $163 Mil from issuing more debt. It paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares. It spent $129 Mil paying cash dividends to shareholders. It received $56 Mil on other financial activities. In all, The Hershey Co earned $90 Mil on financial activities for the three months ended in Sep. 2016.


Definition

This is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders. In the calculation of free cash flow, cash from financing is not calculated because it is not related to operating activities.

The Hershey Co's Cash from Financing for the fiscal year that ended in Dec. 2015 is calculated as:

Cash from Financing(A: Dec. 2015 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=-582.623+254.305+0+-476.132+49.288
=-755

The Hershey Co's Cash from Financing for the quarter that ended in Sep. 2016 is

Cash from Financing(Q: Sep. 2016 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=0+163.375+0+-128.567+55.555
=90

The Hershey Co Cash Flow from Financing for the trailing twelve months (TTM) ended in Sep. 2016 was -467.771 (Dec. 2015 ) + -271.235 (Mar. 2016 ) + 230.634 (Jun. 2016 ) + 90.363 (Sep. 2016 ) = $-418 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Cash from financing contains five items:

1. Net Issuance of Stock:
A company may raise cash from issuing new shares. It can also use cash to buy back shares. If this number is positive, it means that the company has received more cash from issuing shares than it has paid to buy back shares. If this number is negative, it means that company has paid more cash to buy back shares than it has received for issuing shares.

The Hershey Co's net issuance of stock for the three months ended in Sep. 2016 was $0 Mil. The Hershey Co paid $0 Mil more to buy back shares than it received from issuing new shares.

2. Net Issuance of Debt:
Net issuance of debt is the cash a company received or spent through debt related activities such as debt issuance or debt repayment. If a company pays down its debt during the period, this number will be negative. If a company issued more debt, it receives cash and this number is positive.

The Hershey Co's net issuance of debt for the three months ended in Sep. 2016 was $163 Mil. The Hershey Co received $163 Mil from issuing more debt.

3. Net Issuance of Preferred:
A company may raise cash from issuing new preferred shares. It can also use cash to buy back preferred shares. If this number is positive, it means that the company has received more cash from issuing preferred shares than it has paid to buy back preferred shares. If this number is negative, it means that company has paid more cash to buy back preferred shares than it has received for issuing preferred shares.

The Hershey Co's net issuance of preferred for the three months ended in Sep. 2016 was $0 Mil. The Hershey Co paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares.

4. Dividends:
Cash flow for dividends refers to the payment of cash to shareholders as dividends when the company generates income.

The Hershey Co's cash flow for dividends for the three months ended in Sep. 2016 was $-129 Mil. The Hershey Co spent $129 Mil paying cash dividends to shareholders.

5. Other Financing:
Money spent or earned by company from other financial activities.

The Hershey Co's other financing for the three months ended in Sep. 2016 was $56 Mil. The Hershey Co received $56 Mil on other financial activities.


Related Terms

Cash Flow from Operations, Cash Flow from Investing, Net Issuance of Stock, Net Issuance of Debt, Dividends, Net Issuance of Preferred


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

The Hershey Co Annual Data

Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
Net Issuance of Stock -256-60-9-169-385-511-306-577-5830
Net Issuance of Debt 6-129-4662784-18541192540
Net Issuance of Preferred 0000000000
Dividends -252-263-263-283-304-341-394-440-4760
Other Financing 603840104246283199179490
Cash from Financing -442-413-699-71-439-587-447-719-7550

The Hershey Co Quarterly Data

Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16
Net Issuance of Stock -106-34-307-9-252-15-304-14900
Net Issuance of Debt 363-263290-35330-3311544761630
Net Issuance of Preferred 0000000000
Dividends -115-115-114-115-124-123-122-121-1290
Other Financing 14295519-261124560
Cash from Financing 156-383-77-139-72-468-271231900
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