2018 Q3 Form 10-Q Financial Statement

#000115844918000160 Filed on August 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $2.327B $2.264B
YoY Change 2.78% 0.34%
Cost Of Revenue $1.315B $1.271B
YoY Change 3.5% 1.99%
Gross Profit $1.012B $993.1M
YoY Change 1.86% -1.7%
Gross Profit Margin 43.48% 43.87%
Selling, General & Admin $844.0M $846.4M
YoY Change -0.28% 6.65%
% of Gross Profit 83.44% 85.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $56.50M $57.80M
YoY Change -2.25% -3.67%
% of Gross Profit 5.59% 5.82%
Operating Expenses $844.0M $846.4M
YoY Change -0.28% 6.65%
Operating Profit $167.5M $146.7M
YoY Change 14.2% -32.29%
Interest Expense -$12.86M -$13.92M
YoY Change -7.66% -0.71%
% of Operating Profit -7.67% -9.49%
Other Income/Expense, Net -$10.07M -$10.75M
YoY Change -6.34% 38.25%
Pretax Income $157.5M $136.0M
YoY Change 15.82% -34.92%
Income Tax $39.64M $48.91M
% Of Pretax Income 25.17% 35.97%
Net Earnings $117.8M $87.05M
YoY Change 35.37% -30.14%
Net Earnings / Revenue 5.06% 3.85%
Basic Earnings Per Share $1.59 $1.18
Diluted Earnings Per Share $1.59 $1.17
COMMON SHARES
Basic Shares Outstanding 74.05M shares 73.85M shares
Diluted Shares Outstanding 74.24M shares 74.09M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $902.0M $257.0M
YoY Change 250.97% 144.76%
Cash & Equivalents $902.2M $257.2M
Short-Term Investments
Other Short-Term Assets $151.7M $95.12M
YoY Change 59.45% -1.13%
Inventory $4.160B $4.293B
Prepaid Expenses
Receivables $664.1M $680.5M
Other Receivables $14.00M $15.00M
Total Short-Term Assets $5.878B $5.326B
YoY Change 10.36% 0.88%
LONG-TERM ASSETS
Property, Plant & Equipment $1.339B $1.431B
YoY Change -6.45% -0.04%
Goodwill $991.9M $993.9M
YoY Change -0.2% 0.13%
Intangibles $572.0M $618.9M
YoY Change -7.58% -38.18%
Long-Term Investments
YoY Change
Other Assets $54.92M $67.11M
YoY Change -18.16% -2.12%
Total Long-Term Assets $2.958B $3.111B
YoY Change -4.93% -1.47%
TOTAL ASSETS
Total Short-Term Assets $5.878B $5.326B
Total Long-Term Assets $2.958B $3.111B
Total Assets $8.836B $8.437B
YoY Change 4.72% 0.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.910B $2.937B
YoY Change -0.92% -8.78%
Accrued Expenses $635.9M $629.1M
YoY Change 1.08% 11.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $181.0K $418.0K
YoY Change -56.7% 3.47%
Total Short-Term Liabilities $3.598B $3.598B
YoY Change 0.0% -6.32%
LONG-TERM LIABILITIES
Long-Term Debt $1.045B $1.044B
YoY Change 0.13% -10.77%
Other Long-Term Liabilities $220.2M $228.3M
YoY Change -3.55% -1.4%
Total Long-Term Liabilities $1.265B $1.272B
YoY Change -0.53% -9.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.598B $3.598B
Total Long-Term Liabilities $1.265B $1.272B
Total Liabilities $4.864B $4.870B
YoY Change -0.14% -7.1%
SHAREHOLDERS EQUITY
Retained Earnings $3.166B $2.649B
YoY Change 19.53% 15.37%
Common Stock $678.4M $647.8M
YoY Change 4.72% 4.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $150.3M $141.4M
YoY Change 6.26% 7.22%
Treasury Stock Shares
Shareholders Equity $3.658B $3.128B
YoY Change
Total Liabilities & Shareholders Equity $8.836B $8.437B
YoY Change 4.72% 0.0%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $117.8M $87.05M
YoY Change 35.37% -30.14%
Depreciation, Depletion And Amortization $56.50M $57.80M
YoY Change -2.25% -3.67%
Cash From Operating Activities $290.0M $232.2M
YoY Change 24.89% 93.5%
INVESTING ACTIVITIES
Capital Expenditures -$27.30M -$57.10M
YoY Change -52.19% 17.01%
Acquisitions
YoY Change
Other Investing Activities $100.0K $200.0K
YoY Change -50.0% -108.7%
Cash From Investing Activities -$27.30M -$56.90M
YoY Change -52.02% 11.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.600M -46.70M
YoY Change -103.43% -29.88%
NET CHANGE
Cash From Operating Activities 290.0M 232.2M
Cash From Investing Activities -27.30M -56.90M
Cash From Financing Activities 1.600M -46.70M
Net Change In Cash 264.3M 128.6M
YoY Change 105.52% 5745.45%
FREE CASH FLOW
Cash From Operating Activities $290.0M $232.2M
Capital Expenditures -$27.30M -$57.10M
Free Cash Flow $317.3M $289.3M
YoY Change 9.68% 71.39%

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CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-10752000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-24369000 USD
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-10070000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-27294000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
146711000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
326491000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
167541000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
365781000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
105106000 USD
CY2018Q3 us-gaap Other Assets Current
OtherAssetsCurrent
151662000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
69304000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
54922000 USD
CY2017Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-63000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-148000 USD
CY2018Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-67000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-158000 USD
CY2017Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
41000 USD
CY2018Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
24000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
56000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
13973000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
13185000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7035000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-10802000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13910000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13037000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-7102000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-10960000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
51967000 USD
CY2018Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
52331000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
239061000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
220222000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1851000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1180000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3169000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7982000 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2785000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3243000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-20000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3303000 USD
CY2017 us-gaap Payments For Restructuring
PaymentsForRestructuring
26061000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
10326000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
13363000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
13398000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6230000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
304000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
122364000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
61815000 USD
CY2017Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.88
CY2018Q3 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.88
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
606357000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2281000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1697000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
534400000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2027000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
784000 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-4202000 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-8362000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1311000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
578000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1394138000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1338931000 USD
CY2018Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
664149000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
534400000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2017 us-gaap Restructuring Charges
RestructuringCharges
15867000 USD
us-gaap Restructuring Charges
RestructuringCharges
8976000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
45224000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
33215000 USD
CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
32250000 USD
CY2017 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-1815000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
385000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2920096000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3165696000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
2263727000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
5154565000 USD
CY2018Q3 us-gaap Sales Revenue Net
SalesRevenueNet
2326652000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
5200500000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
846377000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1937281000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
844018000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1918061000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
19938000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12413000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
47243000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
49024000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
46538000 USD
CY2017 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
49114000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
22491000 USD
CY2017 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
50895000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
20005000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3415196000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
3657949000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
144600000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
150257000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74093000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74093000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74244000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74222000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73848000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73810000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74054000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74011000 shares

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