2015 Q3 Form 10-Q Financial Statement

#000151499115000035 Filed on November 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $632.2M $519.6M
YoY Change 21.68% 31.42%
Cost Of Revenue $293.1M $252.6M
YoY Change 16.05% 60.81%
Gross Profit $339.1M $267.0M
YoY Change 26.99% 12.05%
Gross Profit Margin 53.64% 51.39%
Selling, General & Admin $156.3M $132.9M
YoY Change 17.66% 25.39%
% of Gross Profit 46.1% 49.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.80M $18.30M
YoY Change 13.66% 84.85%
% of Gross Profit 6.13% 6.85%
Operating Expenses $156.3M $132.9M
YoY Change 17.66% 25.39%
Operating Profit $159.3M $110.2M
YoY Change 44.49% -9.93%
Interest Expense $31.93M $31.67M
YoY Change 0.83% 6.38%
% of Operating Profit 20.05% 28.73%
Other Income/Expense, Net -$39.01M -$43.08M
YoY Change -9.45% 45.29%
Pretax Income $120.3M $67.15M
YoY Change 79.1% -27.59%
Income Tax $43.36M $13.08M
% Of Pretax Income 36.05% 19.48%
Net Earnings $72.77M $53.16M
YoY Change 36.89% -8.52%
Net Earnings / Revenue 11.51% 10.23%
Basic Earnings Per Share $1.00 $0.74
Diluted Earnings Per Share $0.99 $0.73
COMMON SHARES
Basic Shares Outstanding 72.50M shares 72.08M shares
Diluted Shares Outstanding 73.22M shares 72.89M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $296.6M
YoY Change -41.81%
Cash & Equivalents $307.6M $296.6M
Short-Term Investments
Other Short-Term Assets $598.3M $510.2M
YoY Change 17.27% 36.45%
Inventory
Prepaid Expenses
Receivables $571.5M $483.6M
Other Receivables $4.000M $3.600M
Total Short-Term Assets $1.481B $1.294B
YoY Change 14.48% 7.41%
LONG-TERM ASSETS
Property, Plant & Equipment $145.2M $123.8M
YoY Change 17.33% 81.02%
Goodwill $717.1M $592.9M
YoY Change 20.94% 666.12%
Intangibles $569.5M $517.2M
YoY Change 10.11% 123.04%
Long-Term Investments
YoY Change
Other Assets $227.2M $141.7M
YoY Change 60.37% 101.47%
Total Long-Term Assets $2.688B $2.369B
YoY Change 13.47% 79.47%
TOTAL ASSETS
Total Short-Term Assets $1.481B $1.294B
Total Long-Term Assets $2.688B $2.369B
Total Assets $4.170B $3.663B
YoY Change 13.83% 45.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $135.8M $92.18M
YoY Change 47.3% 50.31%
Accrued Expenses $184.2M $182.8M
YoY Change 0.79% 79.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $132.4M $58.40M
YoY Change 126.71% 3335.29%
Total Short-Term Liabilities $807.2M $634.5M
YoY Change 27.21% 53.13%
LONG-TERM LIABILITIES
Long-Term Debt $2.576B $2.703B
YoY Change -4.7% 25.43%
Other Long-Term Liabilities $94.02M $91.56M
YoY Change 2.69% 14.99%
Total Long-Term Liabilities $2.670B $2.795B
YoY Change -4.46% 25.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $807.2M $634.5M
Total Long-Term Liabilities $2.670B $2.795B
Total Liabilities $4.053B $4.051B
YoY Change 0.04% 29.16%
SHAREHOLDERS EQUITY
Retained Earnings -$65.19M -$419.5M
YoY Change -84.46% -34.25%
Common Stock $115.6M $92.72M
YoY Change 24.65% 56.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $51.99M $47.61M
YoY Change 9.22% 60.47%
Treasury Stock Shares 1.136M shares
Shareholders Equity -$118.9M -$418.0M
YoY Change
Total Liabilities & Shareholders Equity $4.170B $3.663B
YoY Change 13.83% 45.09%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $72.77M $53.16M
YoY Change 36.89% -8.52%
Depreciation, Depletion And Amortization $20.80M $18.30M
YoY Change 13.66% 84.85%
Cash From Operating Activities $110.8M $84.20M
YoY Change 31.59% 26.81%
INVESTING ACTIVITIES
Capital Expenditures -$15.70M -$5.500M
YoY Change 185.45% 19.57%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$35.20M
YoY Change -100.0% 1308.0%
Cash From Investing Activities -$15.70M -$40.80M
YoY Change -61.52% 466.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.20M -300.0K
YoY Change 6300.0% -117.65%
NET CHANGE
Cash From Operating Activities 110.8M 84.20M
Cash From Investing Activities -15.70M -40.80M
Cash From Financing Activities -19.20M -300.0K
Net Change In Cash 75.90M 43.10M
YoY Change 76.1% -29.23%
FREE CASH FLOW
Cash From Operating Activities $110.8M $84.20M
Capital Expenditures -$15.70M -$5.500M
Free Cash Flow $126.5M $89.70M
YoY Change 41.03% 26.34%

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37969000 USD
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us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
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3190000 USD
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872000 USD
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4675000 USD
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2392000 USD
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2014Q3 us-gaap Income Loss From Equity Method Investments
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0 USD
us-gaap Income Loss From Equity Method Investments
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0 USD
CY2015Q3 us-gaap Income Loss From Equity Method Investments
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0 USD
us-gaap Income Loss From Equity Method Investments
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0 USD
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us-gaap Income Tax Expense Benefit
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88742000 USD
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155609000 USD
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1930000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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5089000 USD
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3261000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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10049000 USD
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2990000 USD
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8414000 USD
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4332000 USD
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14515000 USD
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802000 USD
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2775000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
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25042000 USD
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18553000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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16107000 USD
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18825000 USD
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43665000 USD
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600000000 USD
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1070000 USD
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us-gaap Profit Loss
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us-gaap Profit Loss
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271199000 USD
CY2015Q3 us-gaap Program Rights Obligations Current
ProgramRightsObligationsCurrent
302473000 USD
CY2014Q4 us-gaap Program Rights Obligations Noncurrent
ProgramRightsObligationsNoncurrent
465672000 USD
CY2015Q3 us-gaap Program Rights Obligations Noncurrent
ProgramRightsObligationsNoncurrent
422930000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
145217000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
133844000 USD
CY2015Q3 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
210420000 USD
CY2014Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
928000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
55500000 USD
CY2014Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
204611000 USD
CY2015Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
210420000 USD
CY2014Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
204611000 USD
CY2015Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
972000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
40000000 USD
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
5619000 USD
us-gaap Restructuring Charges
RestructuringCharges
6772000 USD
CY2015Q3 us-gaap Restructuring Charges
RestructuringCharges
2631000 USD
us-gaap Restructuring Charges
RestructuringCharges
5941000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
7410000 USD
CY2015Q3 us-gaap Restructuring Reserve
RestructuringReserve
1624000 USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
3401000 USD
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
206000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-341889000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-65190000 USD
CY2014Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
6475000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
21689000 USD
CY2015Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
6407000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
19619000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
519550000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1566197000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
632165000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1901985000 USD
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
132851000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
420097000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
156308000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
469767000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
21569000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
23910000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
-371755000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
-118878000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-351909000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-93449000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
11876000 USD
CY2015Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
22917000 USD
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
51993000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
51993000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
2417000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-1355000 USD
CY2014Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
-5709000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
715000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72890000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72604000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73222000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73108000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72075000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71966000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72503000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72386000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;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:8px;padding-top:8px;text-align:justify;text-indent:32px;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 and disclosure of contingent liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates and judgments inherent in the preparation of the consolidated financial statements include the valuation of acquisition-related assets and liabilities, the useful lives and methodologies used to amortize and assess recoverability of program rights, the estimated useful lives of intangible assets, valuation and recoverability of goodwill and intangible assets and income tax assets and liabilities.</font></div></div>

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