2019 Q1 Form 10-Q Financial Statement

#000114498019000093 Filed on May 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $1.671B $1.609B
YoY Change 3.83% 3.71%
Cost Of Revenue $1.392B $1.344B
YoY Change 3.56% 4.04%
Gross Profit $279.2M $265.4M
YoY Change 5.2% 2.04%
Gross Profit Margin 16.71% 16.49%
Selling, General & Admin $191.0M $184.2M
YoY Change 3.69% 1.71%
% of Gross Profit 68.41% 69.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.600M $8.200M
YoY Change 4.88% 3.8%
% of Gross Profit 3.08% 3.09%
Operating Expenses $191.0M $184.2M
YoY Change 3.69% 1.71%
Operating Profit $77.80M $73.20M
YoY Change 6.28% 1.24%
Interest Expense -$24.10M -$19.80M
YoY Change 21.72% 3.13%
% of Operating Profit -30.98% -27.05%
Other Income/Expense, Net -$24.10M -$19.80M
YoY Change 21.72% 3.13%
Pretax Income $53.70M $53.40M
YoY Change 0.56% 0.56%
Income Tax $12.80M $13.30M
% Of Pretax Income 23.84% 24.91%
Net Earnings $40.90M $40.10M
YoY Change 2.0% 17.94%
Net Earnings / Revenue 2.45% 2.49%
Basic Earnings Per Share $2.13 $1.95
Diluted Earnings Per Share $2.11 $1.93
COMMON SHARES
Basic Shares Outstanding 19.20M shares 20.60M shares
Diluted Shares Outstanding 19.40M shares 20.80M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.90M $4.800M
YoY Change 127.08% 54.84%
Cash & Equivalents $10.90M $4.800M
Short-Term Investments
Other Short-Term Assets $120.6M $135.7M
YoY Change -11.13% 30.61%
Inventory $1.168B $821.9M
Prepaid Expenses
Receivables $115.1M $109.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.629B $1.327B
YoY Change 22.76% -1.63%
LONG-TERM ASSETS
Property, Plant & Equipment $915.4M $854.5M
YoY Change 7.13% 3.69%
Goodwill $213.2M $176.1M
YoY Change 21.07% 9.58%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.500M $11.80M
YoY Change -27.97% 2.61%
Total Long-Term Assets $1.276B $1.103B
YoY Change 15.73% 4.92%
TOTAL ASSETS
Total Short-Term Assets $1.629B $1.327B
Total Long-Term Assets $1.276B $1.103B
Total Assets $2.905B $2.429B
YoY Change 19.57% 1.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $306.8M $293.0M
YoY Change 4.71% -10.59%
Accrued Expenses $18.30M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.035B $795.1M
YoY Change 30.21% -2.03%
Long-Term Debt Due $38.70M $13.00M
YoY Change 197.69% -7.8%
Total Short-Term Liabilities $1.417B $1.101B
YoY Change 28.67% -4.53%
LONG-TERM LIABILITIES
Long-Term Debt $874.7M $859.1M
YoY Change 1.82% -5.48%
Other Long-Term Liabilities $28.10M $28.60M
YoY Change -1.75% -4.67%
Total Long-Term Liabilities $28.10M $28.60M
YoY Change -1.75% -4.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.417B $1.101B
Total Long-Term Liabilities $28.10M $28.60M
Total Liabilities $1.445B $1.130B
YoY Change 27.9% -4.54%
SHAREHOLDERS EQUITY
Retained Earnings $957.7M $759.5M
YoY Change 26.1% 17.75%
Common Stock $575.9M $567.1M
YoY Change 1.55% 2.46%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.028B $943.5M
YoY Change 8.97% 5.0%
Treasury Stock Shares 21.79M shares 20.52M shares
Shareholders Equity $504.6M $424.3M
YoY Change
Total Liabilities & Shareholders Equity $2.905B $2.429B
YoY Change 19.57% 1.24%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $40.90M $40.10M
YoY Change 2.0% 17.94%
Depreciation, Depletion And Amortization $8.600M $8.200M
YoY Change 4.88% 3.8%
Cash From Operating Activities $65.20M $35.80M
YoY Change 82.12% -63.58%
INVESTING ACTIVITIES
Capital Expenditures $3.600M $3.300M
YoY Change 9.09% -38.89%
Acquisitions $118.5M $45.50M
YoY Change 160.44% -43.2%
Other Investing Activities -$118.5M -$43.50M
YoY Change 172.41% -45.69%
Cash From Investing Activities -$127.0M -$64.40M
YoY Change 97.2% -24.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.700M $24.40M
YoY Change -80.74% 28.42%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $64.40M $28.70M
YoY Change 124.39% -319.08%
NET CHANGE
Cash From Operating Activities $65.20M $35.80M
Cash From Investing Activities -$127.0M -$64.40M
Cash From Financing Activities $64.40M $28.70M
Net Change In Cash $2.600M $100.0K
YoY Change 2500.0% -133.33%
FREE CASH FLOW
Cash From Operating Activities $65.20M $35.80M
Capital Expenditures $3.600M $3.300M
Free Cash Flow $61.60M $32.50M
YoY Change 89.54% -65.02%

Facts In Submission

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9 states
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P6Y1M6D
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19200000 USD
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2800000 USD
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2100000 USD
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700000 USD
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28100000 USD
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200000 USD
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24400000 USD
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45500000 USD
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118500000 USD
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0 USD
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PaymentsToAcquireOtherPropertyPlantAndEquipment
4900000 USD
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3300000 USD
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3600000 USD
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17600000 USD
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0 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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10000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
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PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
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0 shares
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0 shares
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0 shares
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3900000 USD
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CY2019Q1 us-gaap Share Based Compensation
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CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2019Q1 us-gaap Treasury Stock Shares
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TreasuryStockValue
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CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
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CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
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20000000 USD
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
7400000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
200000 USD
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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20800000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19400000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20600000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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19200000 shares
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the periods presented. Actual results could differ materially from these estimates. Estimates and assumptions are reviewed quarterly and the effects of any revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Significant estimates made in the accompanying Condensed Consolidated Financial Statements include, but are not limited to, those relating to inventory valuation reserves, variable consideration and constraint considerations related to retro-commission arrangements, reserves for chargebacks against revenue recognized from the sale of finance and insurance products, reserves for insurance programs, certain assumptions related to intangible and long-lived assets, and reserves for certain legal or similar proceedings relating to our business operations.</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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