2017 Q1 Form 10-Q Financial Statement

#000076642117000029 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $1.740B $1.347B
YoY Change 29.18%
Cost Of Revenue $56.00M $458.0M
YoY Change -87.77% -5.95%
Gross Profit $1.684B $889.0M
YoY Change 89.43% 13.68%
Gross Profit Margin 96.78% 66.0%
Selling, General & Admin $564.0M $417.0M
YoY Change 35.25% 8.31%
% of Gross Profit 33.49% 46.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $90.00M $88.00M
YoY Change 2.27% 15.79%
% of Gross Profit 5.34% 9.9%
Operating Expenses $1.583B $1.057B
YoY Change 49.76% 2.52%
Operating Profit $157.0M $290.0M
YoY Change -45.86% 21.85%
Interest Expense $25.00M $13.00M
YoY Change 92.31% 18.18%
% of Operating Profit 15.92% 4.48%
Other Income/Expense, Net -$15.00M $2.000M
YoY Change -850.0% 0.0%
Pretax Income $142.0M $292.0M
YoY Change -51.37% 21.67%
Income Tax $49.00M $108.0M
% Of Pretax Income 34.51% 36.99%
Net Earnings $93.00M $184.0M
YoY Change -49.46% 23.49%
Net Earnings / Revenue 5.34% 13.66%
Basic Earnings Per Share $0.75 $1.47
Diluted Earnings Per Share $0.75 $1.46
COMMON SHARES
Basic Shares Outstanding 123.5M shares 124.6M shares
Diluted Shares Outstanding 124.3M shares 125.3M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.710B $1.564B
YoY Change 9.34% 19.21%
Cash & Equivalents $183.0M $78.00M
Short-Term Investments $1.527B $1.486B
Other Short-Term Assets $132.0M $79.00M
YoY Change 67.09% -64.89%
Inventory $50.00M $45.00M
Prepaid Expenses
Receivables $321.0M $235.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.213B $1.923B
YoY Change 15.08% 8.28%
LONG-TERM ASSETS
Property, Plant & Equipment $5.809B $4.830B
YoY Change 20.27% 7.4%
Goodwill $1.942B
YoY Change
Intangibles $139.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets $199.0M $76.00M
YoY Change 161.84% -44.53%
Total Long-Term Assets $8.089B $4.906B
YoY Change 64.88% 5.87%
TOTAL ASSETS
Total Short-Term Assets $2.213B $1.923B
Total Long-Term Assets $8.089B $4.906B
Total Assets $10.30B $6.829B
YoY Change 50.86% 6.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $95.00M $63.00M
YoY Change 50.79% 10.53%
Accrued Expenses $909.0M $809.0M
YoY Change 12.36% 10.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $332.0M $116.0M
YoY Change 186.21% -1.69%
Total Short-Term Liabilities $2.835B $2.069B
YoY Change 37.02% 10.05%
LONG-TERM LIABILITIES
Long-Term Debt $2.531B $531.0M
YoY Change 376.65% -18.31%
Other Long-Term Liabilities $438.0M $359.0M
YoY Change 22.01% 8.13%
Total Long-Term Liabilities $1.922B $1.774B
YoY Change 8.34% 3.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.835B $2.069B
Total Long-Term Liabilities $1.922B $1.774B
Total Liabilities $4.757B $3.843B
YoY Change 23.78% 6.93%
SHAREHOLDERS EQUITY
Retained Earnings $3.629B $3.039B
YoY Change 19.41% 34.11%
Common Stock $127.0M $87.00M
YoY Change 45.98% -58.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $443.0M $377.0M
YoY Change 17.51% 5285.71%
Treasury Stock Shares 5.862M shares 4.988M shares
Shareholders Equity $3.014B $2.455B
YoY Change
Total Liabilities & Shareholders Equity $10.30B $6.829B
YoY Change 50.86% 6.54%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $93.00M $184.0M
YoY Change -49.46% 23.49%
Depreciation, Depletion And Amortization $90.00M $88.00M
YoY Change 2.27% 15.79%
Cash From Operating Activities $470.0M $525.0M
YoY Change -10.48% 2.14%
INVESTING ACTIVITIES
Capital Expenditures $216.0M $119.0M
YoY Change 81.51% -57.35%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.000M
YoY Change -100.0% -50.0%
Cash From Investing Activities -$488.0M -$336.0M
YoY Change 45.24% -20.19%
FINANCING ACTIVITIES
Cash Dividend Paid $37.00M $34.00M
YoY Change 8.82% 30.77%
Common Stock Issuance & Retirement, Net $0.00 $127.0M
YoY Change -100.0% 24.51%
Debt Paid & Issued, Net $101.0M $36.00M
YoY Change 180.56% 2.86%
Cash From Financing Activities -$127.0M -$184.0M
YoY Change -30.98% 23.49%
NET CHANGE
Cash From Operating Activities $470.0M $525.0M
Cash From Investing Activities -$488.0M -$336.0M
Cash From Financing Activities -$127.0M -$184.0M
Net Change In Cash -$145.0M $5.000M
YoY Change -3000.0% -108.93%
FREE CASH FLOW
Cash From Operating Activities $470.0M $525.0M
Capital Expenditures $216.0M $119.0M
Free Cash Flow $254.0M $406.0M
YoY Change -37.44% 72.77%

Facts In Submission

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CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
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525000000 USD
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NetCashProvidedByUsedInOperatingActivities
470000000 USD
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CY2017Q1 us-gaap Net Income Loss
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99000000 USD
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CY2017Q1 us-gaap Nonoperating Income 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 Operating Income Loss
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290000000 USD
CY2017Q1 us-gaap Operating Income Loss
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166000000 USD
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CY2017Q1 us-gaap Other Assets
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2280000000 USD
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169000000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
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199000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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8000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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2000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2017Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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0 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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-1000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
0 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
2000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
2000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
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CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
1000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
12000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
3000000 USD
CY2016Q1 us-gaap Other Cost And Expense Operating
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94000000 USD
CY2017Q1 us-gaap Other Cost And Expense Operating
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CY2016Q1 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
32000000 USD
CY2017Q1 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
31000000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
438000000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
CY2016Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
17000000 USD
CY2017Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-150000000 USD
CY2016Q1 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
190000000 USD
CY2017Q1 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
241000000 USD
CY2016Q1 us-gaap Passenger Revenue
PassengerRevenue
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CY2017Q1 us-gaap Passenger Revenue
PassengerRevenue
1484000000 USD
CY2016Q1 us-gaap Passenger Revenue Mainline
PassengerRevenueMainline
927000000 USD
CY2017Q1 us-gaap Passenger Revenue Mainline
PassengerRevenueMainline
1272000000 USD
CY2016Q1 us-gaap Passenger Revenue Regional
PassengerRevenueRegional
206000000 USD
CY2017Q1 us-gaap Passenger Revenue Regional
PassengerRevenueRegional
212000000 USD
CY2016Q1 us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
91000000 USD
CY2017Q1 us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
160000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3568000000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1000000 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
127000000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
34000000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
37000000 USD
CY2016Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
358000000 USD
CY2017Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
557000000 USD
CY2016Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
15000000 USD
CY2017Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
20000000 USD
CY2016Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
13000000 USD
CY2017Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
36000000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
119000000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
216000000 USD
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
331000000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
334000000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
121000000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
132000000 USD
CY2016Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
13000000 USD
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
11000000 USD
CY2016Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
140000000 USD
CY2017Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
285000000 USD
CY2016Q1 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
60000000 USD
CY2017Q1 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
81000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8595000000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8817000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5666000000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5809000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
1103000000 USD
CY2017Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
1139000000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
302000000 USD
CY2017Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
321000000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
36000000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
101000000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3629000000 USD
CY2016Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 USD
CY2017Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1347000000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1749000000 USD
CY2016Q1 us-gaap Selling Expense
SellingExpense
49000000 USD
CY2017Q1 us-gaap Selling Expense
SellingExpense
81000000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
9000000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
13000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2931000000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
3014000000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5861583 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
5861583 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
443000000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
443000000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125328000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124299000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124550000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123495000 shares

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