2017 Q1 Form 10-Q Financial Statement

#000142368917000024 Filed on May 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $191.0M -$640.0M
YoY Change -129.84% 392.31%
Cost Of Revenue $98.00M $126.0M
YoY Change -22.22% 8.62%
Gross Profit $93.00M -$766.0M
YoY Change -112.14% 211.38%
Gross Profit Margin 48.69%
Selling, General & Admin $10.00M
YoY Change
% of Gross Profit 10.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.000M
YoY Change
% of Gross Profit 1.08%
Operating Expenses $18.00M $33.00M
YoY Change -45.45% -8.33%
Operating Profit $75.00M -$799.0M
YoY Change -109.39% 183.33%
Interest Expense $98.00M $99.00M
YoY Change -1.01% 15.12%
% of Operating Profit 130.67%
Other Income/Expense, Net
YoY Change
Pretax Income $76.00M -$772.0M
YoY Change -109.84% 206.35%
Income Tax
% Of Pretax Income
Net Earnings $76.00M -$772.0M
YoY Change -109.84% 206.35%
Net Earnings / Revenue 39.79%
Basic Earnings Per Share $0.21
Diluted Earnings Per Share $229.5K -$2.309M
COMMON SHARES
Basic Shares Outstanding 331.0M shares 334.4M shares
Diluted Shares Outstanding 331.1M shares 334.4M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.073B $1.109B
YoY Change -3.25% -35.07%
Cash & Equivalents $1.073B $1.109B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $688.0M
Other Receivables $8.908B
Total Short-Term Assets $10.67B $4.272B
YoY Change 149.74% -26.23%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $45.05B $56.09B
YoY Change -19.69% -14.68%
Other Assets $219.0M $1.686B
YoY Change -87.01% 52.17%
Total Long-Term Assets $46.17B $58.12B
YoY Change -20.57% -13.65%
TOTAL ASSETS
Total Short-Term Assets $10.67B $4.272B
Total Long-Term Assets $46.17B $58.12B
Total Assets $56.84B $62.40B
YoY Change -8.91% -14.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $117.0M $72.00M
YoY Change 62.5% 16.13%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $39.38B $48.31B
YoY Change -18.5% -16.86%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $40.25B $49.35B
YoY Change -18.43% -15.37%
LONG-TERM LIABILITIES
Long-Term Debt $434.0M $562.0M
YoY Change -22.78% -22.48%
Other Long-Term Liabilities $8.861B $4.827B
YoY Change 83.57% 2.38%
Total Long-Term Liabilities $9.295B $5.389B
YoY Change 72.48% -0.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.25B $49.35B
Total Long-Term Liabilities $9.295B $5.389B
Total Liabilities $49.55B $54.74B
YoY Change -9.48% -14.14%
SHAREHOLDERS EQUITY
Retained Earnings -$2.628B -$3.329B
YoY Change -21.06% 53.69%
Common Stock $3.000M $3.000M
YoY Change 0.0% -25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.292B $7.660B
YoY Change
Total Liabilities & Shareholders Equity $56.84B $62.40B
YoY Change -8.91% -14.65%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $76.00M -$772.0M
YoY Change -109.84% 206.35%
Depreciation, Depletion And Amortization $1.000M
YoY Change
Cash From Operating Activities $390.0M $362.0M
YoY Change 7.73% -13.81%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $50.00M -$31.00M
YoY Change -261.29% -210.71%
Cash From Investing Activities $1.354B -$2.833B
YoY Change -147.79% -64.47%
FINANCING ACTIVITIES
Cash Dividend Paid $186.0M $208.0M
YoY Change -10.58% -13.33%
Common Stock Issuance & Retirement, Net $0.00 $116.0M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.734B $2.470B
YoY Change -170.2% -67.25%
NET CHANGE
Cash From Operating Activities $390.0M $362.0M
Cash From Investing Activities $1.354B -$2.833B
Cash From Financing Activities -$1.734B $2.470B
Net Change In Cash $10.00M -$1.000M
YoY Change -1100.0% -91.67%
FREE CASH FLOW
Cash From Operating Activities $390.0M $362.0M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2016Q1 us-gaap Interest Income Securities Mortgage Backed
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CY2016Q1 us-gaap Labor And Related Expense
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CY2017Q1 us-gaap Labor And Related Expense
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CY2016Q1 us-gaap Operating Expenses
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CY2017Q1 us-gaap Operating Expenses
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CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2016Q4 us-gaap Other Long Term Debt
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CY2017Q1 us-gaap Other Long Term Debt
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CY2016Q4 us-gaap Other Receivables From Broker Dealers And Clearing Organizations
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CY2017Q1 us-gaap Other Receivables From Broker Dealers And Clearing Organizations
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CY2017Q1 us-gaap Preferred Stock Shares Authorized
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CY2017Q1 us-gaap Preferred Stock Shares Issued
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CY2017Q1 us-gaap Preferred Stock Shares Outstanding
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CY2017Q1 us-gaap Preferred Stock Value
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CY2016Q4 us-gaap Short Term Debt Percentage Bearing Fixed Interest Rate
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CY2017Q1 us-gaap Stock Repurchase Program Authorized Amount1
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CY2017Q1 us-gaap Trading Securities Pledged As Collateral
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CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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331000000 shares
CY2017Q1 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Loss Contingencies</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We evaluate the existence of any pending or threatened litigation or other potential claims against the Company in accordance with ASC Topic 450, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Contingencies, </font><font style="font-family:inherit;font-size:10pt;">which requires that we assess the likelihood and range of potential outcomes of any such matters. We are the defendant in two stockholder derivative lawsuits alleging that certain of our current and former directors and officers breached fiduciary duties and wasted corporate assets in connection with past renewals of the management agreement with our former external Manager and the internalization of our management, which occurred on July 1, 2016. Although the outcomes of these cases cannot be predicted with certainty, we do not believe that these cases have merit or will result in a material liability and, as of March 31, 2017, we did not accrue a loss contingency related to these matters.</font></div></div>

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