2018 Q4 Form 10-K Financial Statement

#000076642119000008 Filed on February 15, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 2017 Q4
Revenue $2.064B $8.264B $1.942B
YoY Change 6.28% 4.69% 27.93%
Cost Of Revenue $1.003B $3.850B $881.0M
YoY Change 13.85% 20.46% 59.31%
Gross Profit $1.061B $4.414B $1.061B
YoY Change 0.0% -6.05% 9.95%
Gross Profit Margin 51.41% 53.41% 54.63%
Selling, General & Admin $685.0M $2.663B $662.0M
YoY Change 3.47% 9.41% 31.35%
% of Gross Profit 64.56% 60.33% 62.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $108.0M $398.0M $97.00M
YoY Change 11.34% 6.99% 18.29%
% of Gross Profit 10.18% 9.02% 9.14%
Operating Expenses $942.0M $7.621B $900.0M
YoY Change 4.67% 13.98% 31.2%
Operating Profit $119.0M $643.0M $161.0M
YoY Change -26.09% -46.77% -42.29%
Interest Expense -$40.00M $91.00M -$7.000M
YoY Change 471.43% -11.65% -36.36%
% of Operating Profit -33.61% 14.15% -4.35%
Other Income/Expense, Net -$3.000M -$58.00M $2.000M
YoY Change -250.0% 18.37% -86.67%
Pretax Income $36.00M $585.0M $126.0M
YoY Change -71.43% -49.53% -37.62%
Income Tax $13.00M $148.0M $48.00M
% Of Pretax Income 36.11% 25.3% 38.1%
Net Earnings $23.00M $437.0M $315.0M
YoY Change -92.7% -54.48% 224.74%
Net Earnings / Revenue 1.11% 5.29% 16.22%
Basic Earnings Per Share $3.55
Diluted Earnings Per Share $184.7K $3.52 $2.574M
COMMON SHARES
Basic Shares Outstanding 123.3M shares 123.2M shares 123.0M shares
Diluted Shares Outstanding 124.0M shares

Balance Sheet

Concept 2018 Q4 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.236B $1.236B $1.621B
YoY Change -23.75% -23.75% 2.59%
Cash & Equivalents $105.0M $105.0M $194.0M
Short-Term Investments $1.131B $1.131B $1.427B
Other Short-Term Assets $125.0M $125.0M $133.0M
YoY Change -6.02% -6.02% 9.92%
Inventory $60.00M $60.00M $57.00M
Prepaid Expenses
Receivables $366.0M $366.0M $341.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.787B $1.787B $2.152B
YoY Change -16.96% -16.96% 4.98%
LONG-TERM ASSETS
Property, Plant & Equipment $6.781B $6.781B $6.284B
YoY Change 7.91% 7.91% 10.91%
Goodwill $1.943B $1.943B
YoY Change 0.0% 0.47%
Intangibles $127.0M $133.0M
YoY Change -4.51% -6.99%
Long-Term Investments $2.000M
YoY Change
Other Assets $274.0M $272.0M $234.0M
YoY Change 17.09% 16.24% 38.46%
Total Long-Term Assets $9.125B $9.125B $8.594B
YoY Change 6.18% 6.18% 8.62%
TOTAL ASSETS
Total Short-Term Assets $1.787B $1.787B $2.152B
Total Long-Term Assets $9.125B $9.125B $8.594B
Total Assets $10.91B $10.91B $10.75B
YoY Change 1.54% 1.54% 7.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $132.0M $132.0M $120.0M
YoY Change 10.0% 10.0% 30.43%
Accrued Expenses $416.0M $828.0M $400.0M
YoY Change 4.0% 1.22% -54.44%
Deferred Revenue $788.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $486.0M $486.0M $307.0M
YoY Change 58.31% 58.31% -3.76%
Total Short-Term Liabilities $2.942B $2.942B $2.686B
YoY Change 9.53% 9.53% 5.96%
LONG-TERM LIABILITIES
Long-Term Debt $1.617B $1.617B $2.262B
YoY Change -28.51% -28.51% -14.48%
Other Long-Term Liabilities $418.0M $2.090B $425.0M
YoY Change -1.65% 6.2% 1.92%
Total Long-Term Liabilities $2.602B $3.707B $2.338B
YoY Change 11.29% -12.36% 26.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.942B $2.942B $2.686B
Total Long-Term Liabilities $2.602B $3.707B $2.338B
Total Liabilities $5.544B $7.161B $5.024B
YoY Change 10.35% -1.72% 14.55%
SHAREHOLDERS EQUITY
Retained Earnings $4.534B $4.193B
YoY Change 8.13% 17.52%
Common Stock $233.0M $165.0M
YoY Change 41.21% 48.65%
Preferred Stock
YoY Change
Treasury Stock (at cost) $568.0M $518.0M
YoY Change 9.65% 16.93%
Treasury Stock Shares 7.619M shares 6.843M shares
Shareholders Equity $3.751B $3.751B $3.460B
YoY Change
Total Liabilities & Shareholders Equity $10.91B $10.91B $10.75B
YoY Change 1.54% 1.54% 7.87%

Cashflow Statement

Concept 2018 Q4 2018 2017 Q4
OPERATING ACTIVITIES
Net Income $23.00M $437.0M $315.0M
YoY Change -92.7% -54.48% 224.74%
Depreciation, Depletion And Amortization $108.0M $398.0M $97.00M
YoY Change 11.34% 6.99% 18.29%
Cash From Operating Activities $209.0M $1.195B $233.0M
YoY Change -10.3% -24.84% 29.44%
INVESTING ACTIVITIES
Capital Expenditures -$406.0M $960.0M -$185.0M
YoY Change 119.46% -6.43% 9.47%
Acquisitions $0.00
YoY Change
Other Investing Activities $108.0M -$31.00M $198.0M
YoY Change -45.45% -60.26% -110.93%
Cash From Investing Activities -$298.0M -$631.0M $13.00M
YoY Change -2392.31% -44.11% -100.66%
FINANCING ACTIVITIES
Cash Dividend Paid $158.0M
YoY Change 6.76%
Common Stock Issuance & Retirement, Net $50.00M
YoY Change -33.33%
Debt Paid & Issued, Net $807.0M
YoY Change 103.27%
Cash From Financing Activities 19.00M -$647.0M -193.0M
YoY Change -109.84% 9.29% -162.06%
NET CHANGE
Cash From Operating Activities 209.0M $1.195B 233.0M
Cash From Investing Activities -298.0M -$631.0M 13.00M
Cash From Financing Activities 19.00M -$647.0M -193.0M
Net Change In Cash -70.00M -$83.00M 53.00M
YoY Change -232.08% -36.64% -103.56%
FREE CASH FLOW
Cash From Operating Activities $209.0M $1.195B $233.0M
Capital Expenditures -$406.0M $960.0M -$185.0M
Free Cash Flow $615.0M $235.0M $418.0M
YoY Change 47.13% -58.33% 19.77%

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43000000 USD
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123000000 USD
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34000000 USD
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11000000 USD
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77000000 USD
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CY2017Q4 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Authorized
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5000000 shares
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0 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
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CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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1000000 USD
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8000000 USD
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#4bacc6;font-style:italic;font-weight:bold;">Advertising Expenses</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's advertising expenses include advertising and promotional costs. Advertising production costs are expensed as incurred. Advertising expense was </font><font style="font-family:inherit;font-size:10pt;">$79 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$91 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$61 million</font><font style="font-family:inherit;font-size:10pt;"> during the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">. </font></div></div>

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