2015 Q2 Form 10-Q Financial Statement

#000142368915000018 Filed on May 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $629.0M -$130.0M $2.000M
YoY Change 285.89% -6600.0% -99.53%
Cost Of Revenue $110.0M $116.0M $137.0M
YoY Change -12.0% -15.33% -20.81%
Gross Profit $519.0M -$246.0M -$135.0M
YoY Change 1265.79% 82.22% -154.0%
Gross Profit Margin 82.51% -6750.0%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $36.00M $36.00M $35.00M
YoY Change 0.0% 2.86% -16.67%
Operating Profit $483.0M -$282.0M -$170.0M
YoY Change 24050.0% 65.88% -181.73%
Interest Expense $81.00M $86.00M $108.0M
YoY Change -14.74% -20.37% -22.86%
% of Operating Profit 16.77%
Other Income/Expense, Net
YoY Change
Pretax Income $512.0M -$252.0M -$141.0M
YoY Change 1500.0% 78.72% -158.51%
Income Tax $0.00
% Of Pretax Income
Net Earnings $512.0M -$252.0M -$141.0M
YoY Change 1500.0% 78.72% -161.04%
Net Earnings / Revenue 81.4% -7050.0%
Basic Earnings Per Share
Diluted Earnings Per Share $1.454M -$714.3K -$397.4K
COMMON SHARES
Basic Shares Outstanding 352.8M shares 352.8M shares 356.2M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.510B $1.708B $1.726B
YoY Change -13.57% -1.04% -38.92%
Cash & Equivalents $1.510B $1.708B $1.726B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $221.0M $908.0M $799.0M
Other Receivables $2.741B $3.175B $6.685B
Total Short-Term Assets $4.472B $5.791B $9.210B
YoY Change -56.33% -37.12% 158.71%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $57.30B $65.75B $56.93B
YoY Change 4.19% 15.5% -35.74%
Other Assets $778.0M $1.108B $269.0M
YoY Change -0.64% 311.9% -46.09%
Total Long-Term Assets $58.41B $67.31B $58.11B
YoY Change 3.18% 15.84% -35.3%
TOTAL ASSETS
Total Short-Term Assets $4.472B $5.791B $9.210B
Total Long-Term Assets $58.41B $67.31B $58.11B
Total Assets $62.89B $73.11B $67.32B
YoY Change -5.94% 8.6% -27.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.00M $62.00M $270.0M
YoY Change -65.58% -77.04% 229.27%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $50.18B $58.11B $49.73B
YoY Change 3.01% 16.86% -25.91%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $50.42B $58.31B $50.56B
YoY Change 1.4% 15.34% -25.61%
LONG-TERM LIABILITIES
Long-Term Debt $674.0M $725.0M $874.0M
YoY Change -20.14% -17.05%
Other Long-Term Liabilities $3.074B $4.715B $7.075B
YoY Change -53.96% -33.36% -48.6%
Total Long-Term Liabilities $3.748B $5.440B $7.949B
YoY Change -50.17% -31.56% -42.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.42B $58.31B $50.56B
Total Long-Term Liabilities $3.748B $5.440B $7.949B
Total Liabilities $54.17B $63.75B $58.50B
YoY Change -5.37% 8.97% -28.42%
SHAREHOLDERS EQUITY
Retained Earnings -$1.879B -$2.166B -$870.0M
YoY Change 75.12% 148.97% 56.19%
Common Stock $4.000M $4.000M $4.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.718B $9.356B $8.814B
YoY Change
Total Liabilities & Shareholders Equity $62.89B $73.11B $67.32B
YoY Change -5.94% 8.6% -27.9%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $512.0M -$252.0M -$141.0M
YoY Change 1500.0% 78.72% -161.04%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $451.0M $420.0M $488.0M
YoY Change 1.58% -13.93% -5.79%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $7.642B $28.00M $183.0M
YoY Change 997.99% -84.7%
Cash From Investing Activities $7.642B -$7.973B $13.24B
YoY Change 997.99% -160.2% 95.2%
FINANCING ACTIVITIES
Cash Dividend Paid $240.0M $235.0M
YoY Change 2.13% -44.96%
Common Stock Issuance & Retirement, Net $0.00 $74.00M
YoY Change -100.0% -104.11%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.291B $7.541B -$14.15B
YoY Change 640.93% -153.3% 104.85%
NET CHANGE
Cash From Operating Activities 451.0M $420.0M $488.0M
Cash From Investing Activities 7.642B -$7.973B $13.24B
Cash From Financing Activities -8.291B $7.541B -$14.15B
Net Change In Cash -198.0M -$12.00M -$417.0M
YoY Change -1042.86% -97.12% -205.3%
FREE CASH FLOW
Cash From Operating Activities $451.0M $420.0M $488.0M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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GainLossOnSalesOfMortgageBackedSecuritiesMBS
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CY2014Q1 us-gaap General And Administrative Expense
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CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2015Q1 us-gaap Increase Decrease In Other Operating Assets
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4000000 USD
CY2014Q1 us-gaap Increase Decrease In Restricted Cash
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168000000 USD
CY2015Q1 us-gaap Increase Decrease In Restricted Cash
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395000000 USD
CY2014Q1 us-gaap Interest Expense
InterestExpense
108000000 USD
CY2015Q1 us-gaap Interest Expense
InterestExpense
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CY2014Q1 us-gaap Interest Income Expense Net
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291000000 USD
CY2015Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
297000000 USD
CY2014Q1 us-gaap Interest Income Securities Mortgage Backed
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399000000 USD
CY2015Q1 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
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CY2014Q4 us-gaap Liabilities
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CY2015Q1 us-gaap Liabilities
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CY2014Q4 us-gaap Liabilities And Stockholders Equity
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CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2014Q1 us-gaap Management Fee Expense
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29000000 USD
CY2015Q1 us-gaap Management Fee Expense
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30000000 USD
CY2014Q4 us-gaap Marketable Securities Equity Securities
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68000000 USD
CY2015Q1 us-gaap Marketable Securities Equity Securities
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CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
488000000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
420000000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q1 us-gaap Net Income Loss
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CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2014Q1 us-gaap Noninterest Income
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CY2015Q1 us-gaap Noninterest Income
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CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
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CY2015Q1 us-gaap Operating Expenses
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CY2014Q4 us-gaap Other Assets
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CY2015Q1 us-gaap Other Assets
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CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
564000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
420000000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
43000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
29000000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
521000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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391000000 USD
CY2014Q4 us-gaap Other Long Term Debt
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CY2015Q1 us-gaap Other Long Term Debt
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CY2014Q4 us-gaap Payables To Broker Dealers And Clearing Organizations
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843000000 USD
CY2015Q1 us-gaap Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
50000000 USD
CY2014Q1 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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-58000000 USD
CY2015Q1 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
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CY2014Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
183000000 USD
CY2015Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
28000000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
74000000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2014Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
235000000 USD
CY2015Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
240000000 USD
CY2014Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
4343000000 USD
CY2015Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
21929000000 USD
CY2014Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
204000000 USD
CY2015Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
11000000 USD
CY2014Q1 us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
1403000000 USD
CY2015Q1 us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
14672000000 USD
CY2014Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3000000 USD
CY2015Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7000000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
6900000 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
6900000 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
6900000 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
6900000 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
336000000 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
336000000 USD
CY2014Q1 us-gaap Proceeds From Payments For Securities Purchased Under Agreements To Resell
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CY2015Q1 us-gaap Proceeds From Payments For Securities Purchased Under Agreements To Resell
ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell
2043000000 USD
CY2014Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
86000000 USD
CY2015Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
11000000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
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12807000000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
17999000000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
9545000000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
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7099000000 USD
CY2014 us-gaap Proceeds From Securities Purchased Under Agreements To Resell
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5400000000 USD
CY2015Q1 us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
3300000000 USD
CY2014Q1 us-gaap Proceeds From Short Term Debt
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79314000000 USD
CY2015Q1 us-gaap Proceeds From Short Term Debt
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120104000000 USD
CY2014Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
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239000000 USD
CY2015Q1 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
908000000 USD
CY2014Q1 us-gaap Repayments Of Other Debt
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36000000 USD
CY2015Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
35000000 USD
CY2014Q1 us-gaap Repayments Of Short Term Debt
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CY2015Q1 us-gaap Repayments Of Short Term Debt
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CY2014Q4 us-gaap Restricted Cash And Cash Equivalents
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713000000 USD
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1108000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2014Q4 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
1300000000 USD
CY2015Q1 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
1200000000 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
50296000000 USD
CY2015Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
58112000000 USD
CY2014Q4 us-gaap Security Owned And Pledged As Collateral Fair Value
SecurityOwnedAndPledgedAsCollateralFairValue
54028000000 USD
CY2015Q1 us-gaap Security Owned And Pledged As Collateral Fair Value
SecurityOwnedAndPledgedAsCollateralFairValue
62255000000 USD
CY2015Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
992000000 USD
CY2014Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
74000000 USD
CY2014 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
74000000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
9428000000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
9356000000 USD
CY2014Q4 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
2375000000 USD
CY2015Q1 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
4328000000 USD
CY2015Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
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22.10
CY2014Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
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CY2015Q1 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
1221000000 USD
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
354800000 shares
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
352800000 shares

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