BROWN FORMAN CORP
For the period ended Apr 30, 2025. Filed Jun 13, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Jun 13, 2025
BF-A$31.28-0.6%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
(Dollars in millions, except per share amounts)
| Year Ended April 30, | 2023 | 2024 | 2025 |
|---|---|---|---|
| Sales | $5,372 | $5,328 | $5,056 |
| Excise taxes | 1,144 | 1,150 | 1,081 |
| Net sales | 4,228 | 4,178 | 3,975 |
| Cost of sales | 1,734 | 1,652 | 1,632 |
| Gross profit | 2,494 | 2,526 | 2,343 |
| Advertising expenses | 506 | 529 | 484 |
| Selling, general, and administrative expenses | 742 | 826 | 744 |
| Restructuring and other charges | — | — | 60 |
| Gain on business divestitures | — | (267) | — |
| Other expense (income), net | 119 | 24 | (52) |
| Operating income | 1,127 | 1,414 | 1,107 |
| Non-operating postretirement expense | 29 | 3 | 4 |
| Interest income | (9) | (14) | (17) |
| Interest expense | 90 | 127 | 122 |
| Equity method investment income and gain on sale | — | — | (83) |
| Income before income taxes | 1,017 | 1,298 | 1,081 |
| Income taxes | 234 | 274 | 212 |
| Net income | $783 | $1,024 | $869 |
| Earnings per share: | |||
| Basic | $1.63 | $2.15 | $1.84 |
| Diluted | $1.63 | $2.14 | $1.84 |
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