2017 Q1 Form 10-Q Financial Statement

#000151499117000012 Filed on May 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $720.2M $706.6M
YoY Change 1.93% 5.67%
Cost Of Revenue $298.6M $274.3M
YoY Change 8.87% 4.62%
Gross Profit $421.6M $432.3M
YoY Change -2.48% 6.35%
Gross Profit Margin 58.54% 61.18%
Selling, General & Admin $163.7M $153.9M
YoY Change 6.37% -0.44%
% of Gross Profit 38.83% 35.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.49M $19.63M
YoY Change 19.67% -4.36%
% of Gross Profit 5.57% 4.54%
Operating Expenses $163.7M $153.9M
YoY Change 6.37% -0.44%
Operating Profit $231.7M $258.7M
YoY Change -10.43% 12.1%
Interest Expense $30.50M $31.75M
YoY Change -3.94% -3.85%
% of Operating Profit 13.17% 12.28%
Other Income/Expense, Net -$15.96M -$80.20M
YoY Change -80.1% 87.31%
Pretax Income $215.7M $178.6M
YoY Change 20.78% -4.96%
Income Tax $73.10M $58.54M
% Of Pretax Income 33.89% 32.78%
Net Earnings $136.2M $113.4M
YoY Change 20.07% -6.18%
Net Earnings / Revenue 18.91% 16.06%
Basic Earnings Per Share $2.00 $1.56
Diluted Earnings Per Share $1.98 $1.55
COMMON SHARES
Basic Shares Outstanding 68.02M shares 72.58M shares
Diluted Shares Outstanding 68.76M shares 73.27M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $403.6M $702.8M
YoY Change -42.57% 261.71%
Cash & Equivalents $403.6M $702.8M
Short-Term Investments
Other Short-Term Assets $532.9M $535.0M
YoY Change -0.39% 3.58%
Inventory
Prepaid Expenses
Receivables $716.9M $685.1M
Other Receivables $500.0K $3.000M
Total Short-Term Assets $1.654B $1.926B
YoY Change -14.12% 39.34%
LONG-TERM ASSETS
Property, Plant & Equipment $169.2M $174.0M
YoY Change -2.73% 29.01%
Goodwill $662.1M $732.0M
YoY Change -9.55% 3.84%
Intangibles $498.7M $570.8M
YoY Change -12.64% -2.48%
Long-Term Investments
YoY Change
Other Assets $379.3M $202.0M
YoY Change 87.77% -1.26%
Total Long-Term Assets $2.816B $2.752B
YoY Change 2.32% 3.19%
TOTAL ASSETS
Total Short-Term Assets $1.654B $1.926B
Total Long-Term Assets $2.816B $2.752B
Total Assets $4.470B $4.678B
YoY Change -4.45% 15.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $97.48M $131.4M
YoY Change -25.82% 1.81%
Accrued Expenses $300.2M $168.3M
YoY Change 78.37% -8.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $244.9M $170.7M
YoY Change 43.47% 79.12%
Total Short-Term Liabilities $965.6M $833.7M
YoY Change 15.82% 6.24%
LONG-TERM LIABILITIES
Long-Term Debt $2.526B $2.802B
YoY Change -9.86% 5.76%
Other Long-Term Liabilities $121.3M $92.63M
YoY Change 30.94% 27.56%
Total Long-Term Liabilities $2.647B $2.894B
YoY Change -8.55% 6.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $965.6M $833.7M
Total Long-Term Liabilities $2.647B $2.894B
Total Liabilities $4.196B $4.352B
YoY Change -3.59% 5.15%
SHAREHOLDERS EQUITY
Retained Earnings $431.6M $138.3M
YoY Change 212.0% -162.61%
Common Stock $146.9M $123.0M
YoY Change 19.49% 24.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $366.7M $51.99M
YoY Change 605.2% 0.0%
Treasury Stock Shares
Shareholders Equity $31.45M $85.90M
YoY Change
Total Liabilities & Shareholders Equity $4.470B $4.678B
YoY Change -4.45% 15.53%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $136.2M $113.4M
YoY Change 20.07% -6.18%
Depreciation, Depletion And Amortization $23.49M $19.63M
YoY Change 19.67% -4.36%
Cash From Operating Activities $144.9M $167.4M
YoY Change -13.44% 108.73%
INVESTING ACTIVITIES
Capital Expenditures $20.21M $12.39M
YoY Change 63.12% -32.12%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$28.00M $0.00
YoY Change -100.0%
Cash From Investing Activities -$48.20M -$12.40M
YoY Change 288.71% -75.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $91.42M $0.00
YoY Change
Debt Paid & Issued, Net $55.50M $691.4M
YoY Change -91.97% 3637.56%
Cash From Financing Activities -172.8M 231.4M
YoY Change -174.68% -897.93%
NET CHANGE
Cash From Operating Activities 144.9M 167.4M
Cash From Investing Activities -48.20M -12.40M
Cash From Financing Activities -172.8M 231.4M
Net Change In Cash -76.10M 386.4M
YoY Change -119.69% 32100.0%
FREE CASH FLOW
Cash From Operating Activities $144.9M $167.4M
Capital Expenditures $20.21M $12.39M
Free Cash Flow $124.7M $155.0M
YoY Change -19.56% 150.21%

Facts In Submission

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CY2016Q1 us-gaap Unrealized Gain Loss On Securities
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CY2017Q1 us-gaap Unrealized Gain Loss On Securities
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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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CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q1 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, derivative assets and liabilities, certain stock compensation awards, 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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