2016 Q1 Form 10-Q Financial Statement

#000151499116000051 Filed on May 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $706.6M $668.7M
YoY Change 5.67% 27.48%
Cost Of Revenue $274.3M $262.2M
YoY Change 4.62% 20.72%
Gross Profit $432.3M $406.5M
YoY Change 6.35% 32.25%
Gross Profit Margin 61.18% 60.79%
Selling, General & Admin $153.9M $154.6M
YoY Change -0.44% 6.34%
% of Gross Profit 35.6% 38.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.63M $20.53M
YoY Change -4.36% 42.61%
% of Gross Profit 4.54% 5.05%
Operating Expenses $153.9M $154.6M
YoY Change -0.44% 6.34%
Operating Profit $258.7M $230.7M
YoY Change 12.1% 56.3%
Interest Expense $31.75M $33.02M
YoY Change -3.85% 3.94%
% of Operating Profit 12.28% 14.31%
Other Income/Expense, Net -$80.20M -$42.82M
YoY Change 87.31% 17.18%
Pretax Income $178.6M $187.9M
YoY Change -4.96% 69.17%
Income Tax $58.54M $61.25M
% Of Pretax Income 32.78% 32.59%
Net Earnings $113.4M $120.9M
YoY Change -6.18% 69.43%
Net Earnings / Revenue 16.06% 18.08%
Basic Earnings Per Share $1.56 $1.67
Diluted Earnings Per Share $1.55 $1.66
COMMON SHARES
Basic Shares Outstanding 72.58M shares 72.21M shares
Diluted Shares Outstanding 73.27M shares 72.97M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $702.8M $194.3M
YoY Change 261.71% 21.82%
Cash & Equivalents $702.8M $194.3M
Short-Term Investments
Other Short-Term Assets $535.0M $516.5M
YoY Change 3.58% 7.0%
Inventory
Prepaid Expenses
Receivables $685.1M $667.8M
Other Receivables $3.000M $3.700M
Total Short-Term Assets $1.926B $1.382B
YoY Change 39.34% 17.46%
LONG-TERM ASSETS
Property, Plant & Equipment $174.0M $134.9M
YoY Change 29.01% 26.75%
Goodwill $732.0M $705.0M
YoY Change 3.84% 20.19%
Intangibles $570.8M $585.3M
YoY Change -2.48% 9.14%
Long-Term Investments
YoY Change
Other Assets $202.0M $204.6M
YoY Change -1.26% 50.46%
Total Long-Term Assets $2.752B $2.667B
YoY Change 3.19% 15.57%
TOTAL ASSETS
Total Short-Term Assets $1.926B $1.382B
Total Long-Term Assets $2.752B $2.667B
Total Assets $4.678B $4.049B
YoY Change 15.53% 16.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $131.4M $129.1M
YoY Change 1.81% 4.72%
Accrued Expenses $168.3M $184.2M
YoY Change -8.61% 64.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $40.00M
YoY Change -100.0%
Long-Term Debt Due $170.7M $95.30M
YoY Change 79.12% 369.46%
Total Short-Term Liabilities $833.7M $784.7M
YoY Change 6.24% 46.83%
LONG-TERM LIABILITIES
Long-Term Debt $2.802B $2.649B
YoY Change 5.76% -3.29%
Other Long-Term Liabilities $92.63M $72.62M
YoY Change 27.56% -17.03%
Total Long-Term Liabilities $2.894B $2.722B
YoY Change 6.34% -3.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $833.7M $784.7M
Total Long-Term Liabilities $2.894B $2.722B
Total Liabilities $4.352B $4.139B
YoY Change 5.15% 4.44%
SHAREHOLDERS EQUITY
Retained Earnings $138.3M -$221.0M
YoY Change -162.61% -58.41%
Common Stock $123.0M $98.89M
YoY Change 24.35% 31.54%
Preferred Stock
YoY Change
Treasury Stock (at cost) $51.99M $51.99M
YoY Change 0.0% 9.22%
Treasury Stock Shares 1.210M shares
Shareholders Equity $85.90M -$315.0M
YoY Change
Total Liabilities & Shareholders Equity $4.678B $4.049B
YoY Change 15.53% 16.21%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $113.4M $120.9M
YoY Change -6.18% 69.43%
Depreciation, Depletion And Amortization $19.63M $20.53M
YoY Change -4.36% 42.61%
Cash From Operating Activities $167.4M $80.20M
YoY Change 108.73% 8.23%
INVESTING ACTIVITIES
Capital Expenditures $12.39M $18.25M
YoY Change -32.12% 194.85%
Acquisitions $0.00 $6.581M
YoY Change -100.0% -99.34%
Other Investing Activities $0.00 -$31.80M
YoY Change -100.0% -96.8%
Cash From Investing Activities -$12.40M -$50.00M
YoY Change -75.2% -94.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $691.4M $18.50M
YoY Change 3637.56%
Cash From Financing Activities 231.4M -29.00M
YoY Change -897.93% -105.02%
NET CHANGE
Cash From Operating Activities 167.4M 80.20M
Cash From Investing Activities -12.40M -50.00M
Cash From Financing Activities 231.4M -29.00M
Net Change In Cash 386.4M 1.200M
YoY Change 32100.0% -100.35%
FREE CASH FLOW
Cash From Operating Activities $167.4M $80.20M
Capital Expenditures $12.39M $18.25M
Free Cash Flow $155.0M $61.95M
YoY Change 150.21% -8.77%

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PaymentsToAcquirePropertyPlantAndEquipment
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PaymentsToAcquirePropertyPlantAndEquipment
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PreferredStockParOrStatedValuePerShare
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PreferredStockSharesAuthorized
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PreferredStockSharesAuthorized
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PreferredStockValue
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PrepaidExpenseAndOtherAssetsCurrent
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CY2015Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
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ProceedsFromIssuanceOfLongTermDebt
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CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
130000 USD
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ProceedsFromStockOptionsExercised
1200000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
126676000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
120064000 USD
CY2015Q4 us-gaap Program Rights Obligations Current
ProgramRightsObligationsCurrent
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ProgramRightsObligationsCurrent
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CY2015Q4 us-gaap Program Rights Obligations Noncurrent
ProgramRightsObligationsNoncurrent
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CY2016Q1 us-gaap Program Rights Obligations Noncurrent
ProgramRightsObligationsNoncurrent
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CY2015Q4 us-gaap Property Plant And Equipment Net
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CY2015Q1 us-gaap Provision For Doubtful Accounts
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CY2016Q1 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
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CY2015Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2015Q1 us-gaap Revenue From Related Parties
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CY2015Q4 us-gaap Stockholders Equity
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CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2015Q4 us-gaap Taxes Payable Current
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TaxesPayableCurrent
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CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
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CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
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CY2015Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
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CY2016Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
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CY2015Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
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CY2016Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
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CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72206000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72579000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2016Q1 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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