01—Abstract
Summary
Summary of the 10-K/A filed April 13, 2017. Cited figures are marked; the original filing is the authoritative source.
This filing is an amendment (10-K/A) to Monster Beverage Corporation's (MNST) 2016 Annual Report, specifically to correct a typographical error in the consent of its independent registered public accounting firm.
The original filing incorrectly referenced audit reports dated February 29, 2016, when the correct date should have been March 1, 2017. This amendment ensures the accuracy of the auditor's consent and includes updated certifications as required by the Sarbanes-Oxley Act. Investors should note that this amendment does not introduce new financial information or alter the original disclosures from the March 1, 2017, filing; it solely rectifies a dating error within an exhibit and related certifications.
For investors, the core financial performance and strategic information remain as presented in the original 10-K. This amendment is a procedural correction and does not reflect any changes in the company's operational results, financial condition, or future outlook as of December 31, 2016. It is important to review the original 10-K filing for substantive analysis of the company's performance during the 2016 fiscal year.
02—Key points
Key Highlights
- Amendment No. 1 to the 2016 Form 10-K is primarily for correcting a typographical error in the "Consent of Independent Registered Public Accounting Firm."
- The error involved an incorrect reference to the audit report date (February 29, 2016, instead of March 1, 2017).
- This amendment includes new certifications pursuant to Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002.
- No new financial statements or substantive disclosure changes are introduced by this amendment.
- The amendment should be read in conjunction with the original Form 10-K filed on March 1, 2017.
- Monster Beverage Corporation is classified as a "large accelerated filer."
- The filing date of this amendment is April 12, 2017.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2016, Monster Beverage kept $0.23.
- Revenue$3.05B100.0%
- Cost of revenue−$1.11B36.3%
- Gross profit$1.94B63.7%
- Operating costs−$856.7M28.1%
- Operating income$1.09B35.6%
- Interest, other & tax−$372.7M12.2%
- Net income$712.7M23.4%
Where FY2016 revenue went
$3.05B- Cost of revenue: $1.11B, 36% of revenue
- Operating costs: $856.7M, 28% of revenue
- Net income: $712.7M, 23% of revenue
- Interest, other & tax: $372.7M, 12% of revenue
Kept 23% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2016filed April 13, 2017Financial Statements
FY2016 against FY2015
| Line item | FY2016FY2015 | Change |
|---|---|---|
| Revenue | $3.05B$2.72B | +12.0% |
| Cost of Revenue | $1.11B$1.09B | +1.6% |
| Gross Profit | $1.94B$1.63B | +19.0% |
| Operating Expenses | $856.66M$900.12M | −4.8% |
| Operating Income | $1.09B$893.65M | +21.4% |
| Net Income | $712.68M$546.73M | +30.4% |
| EPS (Basic) | $0.30$0.24 | +24.7% |
| EPS (Diluted) | $0.30$0.24 | +25.3% |
| Shares Outstanding (Basic) | 2.35B2.27B | +3.8% |
| Shares Outstanding (Diluted) | 2.40B2.31B | +3.8% |
05—Questions
Frequently Asked Questions
What is the purpose of this 10-K/A filing?
This filing is an amendment to the original 2016 annual report (10-K) to correct a typographical error in the date of the Consent of Independent Registered Public Accounting Firm. The original filing incorrectly stated the audit report date as February 29, 2016, when it should have been March 1, 2017. This amendment corrects that error and provides updated Sarbanes-Oxley certifications.
Does this amendment change Monster Beverage's financial results or disclosures for 2016?
No, this amendment does not change any financial results or substantive disclosures from the original 10-K filed on March 1, 2017. It is purely a correction of a dating error in an exhibit and related certifications. Investors should refer to the original 10-K for the company's financial performance and operational details for the fiscal year ended December 31, 2016.
Why are new Sarbanes-Oxley certifications included?
New certifications under Section 302 and Section 906 of the Sarbanes-Oxley Act are required as part of this amendment filing, consistent with updated filing requirements when an amendment is made. These certifications affirm the accuracy of the company's financial reporting.
What does it mean that Monster Beverage is a 'large accelerated filer'?
Being a 'large accelerated filer' means Monster Beverage meets specific SEC criteria based on its public float, annual revenue, and filing history. Typically, this indicates a well-established, larger company that is subject to more stringent SEC reporting and disclosure requirements, providing greater transparency to investors.
06—Continue