XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash, including cash equivalents of $15.5 and $51.0 $ 251.5 [1] $ 364.9
Restricted cash 0.0 7.8
Accounts receivable (less allowances of $37.1 and $51.1) 198.7 259.1
Receivables from affiliates of Natura &Co 34.1 6.1
Loans to affiliates of Natura &Co 46.6 0.0
Inventories 384.1 459.1
Prepaid expenses and other 165.6 204.2
Held for sale assets 2.8 13.9
Total current assets 1,083.4 1,315.1
Property, plant and equipment, at cost    
Land 18.5 20.8
Buildings and improvements 374.5 447.1
Equipment 549.5 680.6
Property, plant and equipment, at cost 942.5 1,148.5
Less accumulated depreciation (578.8) (709.9)
Property, plant and equipment, net 363.7 438.6
Right-of-use assets 111.1 153.1
Goodwill 72.1 83.2
Deferred tax asset 121.4 135.8
Loans to affiliates of Natura &Co 46.7 0.0
Other assets 509.4 438.5
Total assets 2,307.8 2,564.3
Liabilities    
Debt maturing within one year 32.6 28.0
Loans from affiliates of Natura &Co 371.7 1,008.6
Accounts payable 522.8 709.4
Payables to affiliates of Natura &Co 29.4 0.0
Accrued compensation 81.5 89.4
Other accrued liabilities 273.4 334.7
Sales and taxes other than income 66.8 89.9
Income taxes 11.6 5.4
Total current liabilities 1,421.5 2,294.8
Long-term debt 676.0 675.4
Loans from affiliates of Natura &Co 736.3 0.0
Long-term operating lease liability 87.5 120.9
Employee benefit plans 84.6 133.3
Long-term income taxes 81.5 101.1
Other liabilities 75.1 106.0
Total liabilities 3,162.5 3,431.5
Leases and Commitments and contingencies (Notes 15 and 18)
Shareholders’ Deficit    
Common stock, par value $0.01 - authorized 1,000 shares; issued 101.34 (2019: par value $0.25 - authorized 1,500 shares; issued 770 shares) [2] 0.0 0.0
Additional paid-in capital 631.2 622.8
Retained earnings (404.2) (360.5)
Accumulated other comprehensive loss (1,085.5) (1,133.8)
Total Avon shareholders’ deficit (858.5) (871.5)
Noncontrolling interests 3.8 4.3
Total shareholders’ deficit [3] (854.7) (867.2)
Total liabilities, series C convertible preferred stock and shareholders’ deficit 2,307.8 2,564.3
Discontinued Operations    
Liabilities    
Current liabilities of discontinued operations and liabilities held for sale 31.7 27.1
Held-for-sale    
Liabilities    
Current liabilities of discontinued operations and liabilities held for sale $ 0.0 $ 2.3
[1] The following table provides a reconciliation of cash, cash equivalents, restricted cash, and cash held for sale reported within the Consolidated Balance Sheet that sum to the total of the same such amounts shown in the Consolidated Statement of Cash Flows for the years ended December 31, 2021, 2020 and 2019.
December 31, 2021December 31, 2020December 31, 2019
Cash and cash equivalents$251.5 $364.9 $650.6 
Restricted cash— 7.8 2.9 
Long-term restricted cash— — 7.6 
Held for sale cash and cash equivalents— .7 — 
Cash and cash equivalents, and restricted cash at end of period per the statement of cash flows$251.5 $373.4 $661.1 
[2] In January 2020, subsequent to the Transaction, the Company restated its certificate of incorporation to effect a change in capitalization of the Company by changing the number of authorized shares of stock from 1,525,000,000 shares (of which (i) 1,500,000,000 shares, par value $0.25 per share, were common stock and (ii) 25,000,000 shares, par value $1.00 per share, were preferred stock) to 1,000 shares of common stock, par value $0.01 per share. As a result of the Merger, all of the issued and outstanding common stock of the Company, being 550,890,788, were canceled and converted. See Note 21, Mergers     with Natura Cosméticos S.A.,.
[3] The number of shares of Common Stock (par value $0.01 per share) outstanding at December 31, 2021 and 2020 was 101.34.