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BEN Stock Price Correlated With Franklin Resources Financials
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Income Statement
Cash Flow
Balance Sheet
BEN Income Statement
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BEN Cash Flow
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Operating Activities Net Income:
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Repurchases/Buybacks Common Stock:
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BEN Balance Sheet
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COMPANY PROFILE
Basis of Presentation The unaudited interim financial statements of Franklin Resources, Inc. (“Franklin”) and its consolidated subsidiaries (collectively, the “Company”) included herein have been prepared in accordance with the instructions to Form 10-Q and the rules and regulations of the U.S. Securities and Exchange Commission. Under these rules and regulations, some information and footnote disclosures normally included in financial statements prepared under accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been shortened or omitted. Management believes that all adjustments necessary for a fair statement of the financial position and the results of operations for the periods shown have been made. All adjustments are normal and recurring. Management also believes that the accounting estimates are appropriate, and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates, actual amounts may differ from these estimates. These financial statements should be read together with the Company’s audited financial statements included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2021 (“fiscal year 2021”). Certain comparative amounts for the prior fiscal year period have been reclassified to conform to the financial statement presentation as of and for the period ended March 31, 2022.
During the quarter ended June 30, 2021, the Company identified an error related to the accounting of its indirect interests in certain collateralized loan obligations (“CLOs”) held through a limited partnership and the Company’s conclusion to consolidate that limited partnership. In accordance with U.S. GAAP, the Company should have consolidated the CLOs as the Company is the primary beneficiary of these entities and should not have consolidated the limited partnership. The error had no impact to net income attributable to the Company, earnings per share, retained earnings, or total Franklin Resources, Inc. stockholders’ equity.
The Company determined that the error did not result in a material misstatement to its previously issued consolidated financial statements. Nonetheless, for comparability, the Company has revised the comparative prior period amounts included in the consolidated statements of cash flows and related footnote disclosures.
The impact of the error on the consolidated statement of cash flows for the six months ended March 31, 2021 is as follows:
(in millions) As Reported Adjustments As Revised Net cash provided by operating activities $ 505.4 $ 40.9 $ 546.3 Net cash used in investing activities (773.0) (504.9) (1,277.9) Net cash provided by financing activities 659.9 670.9 1,330.8
During the quarter ended June 30, 2021, the Company identified an error related to the accounting of its indirect interests in certain collateralized loan obligations (“CLOs”) held through a limited partnership and the Company’s conclusion to consolidate that limited partnership. In accordance with U.S. GAAP, the Company should have consolidated the CLOs as the Company is the primary beneficiary of these entities and should not have consolidated the limited partnership. The error had no impact to net income attributable to the Company, earnings per share, retained earnings, or total Franklin Resources, Inc. stockholders’ equity.
The Company determined that the error did not result in a material misstatement to its previously issued consolidated financial statements. Nonetheless, for comparability, the Company has revised the comparative prior period amounts included in the consolidated statements of cash flows and related footnote disclosures.
The impact of the error on the consolidated statement of cash flows for the six months ended March 31, 2021 is as follows:
(in millions) As Reported Adjustments As Revised Net cash provided by operating activities $ 505.4 $ 40.9 $ 546.3 Net cash used in investing activities (773.0) (504.9) (1,277.9) Net cash provided by financing activities 659.9 670.9 1,330.8
Free historical financial statements for Franklin Resources Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 60 quarters since 2009. Compare with BEN stock chart to see long term trends.
Data imported from Franklin Resources Inc SEC filings. Check original filings before making any investment decision.