2017 Q2 Form 10-Q Financial Statement

#000151499117000025 Filed on August 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $710.5M $684.8M
YoY Change 3.75% 13.92%
Cost Of Revenue $334.8M $305.5M
YoY Change 9.61% 17.62%
Gross Profit $375.7M $379.3M
YoY Change -0.96% 11.11%
Gross Profit Margin 52.87% 55.39%
Selling, General & Admin $162.3M $179.4M
YoY Change -9.53% 12.89%
% of Gross Profit 43.19% 47.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.60M $21.60M
YoY Change -4.63% 2.37%
% of Gross Profit 5.48% 5.69%
Operating Expenses $162.3M $179.4M
YoY Change -9.53% 12.89%
Operating Profit $175.8M $178.0M
YoY Change -1.26% 12.09%
Interest Expense $30.72M $32.01M
YoY Change -4.03% -1.73%
% of Operating Profit 17.47% 17.98%
Other Income/Expense, Net -$7.971M -$55.26M
YoY Change -85.57% 170.92%
Pretax Income $167.8M $122.8M
YoY Change 36.69% -11.31%
Income Tax $60.20M $39.39M
% Of Pretax Income 35.87% 32.08%
Net Earnings $102.6M $77.18M
YoY Change 32.94% -7.03%
Net Earnings / Revenue 14.44% 11.27%
Basic Earnings Per Share $1.55 $1.06
Diluted Earnings Per Share $1.54 $1.05
COMMON SHARES
Basic Shares Outstanding 66.22M shares 72.73M shares
Diluted Shares Outstanding 66.79M shares 73.30M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $189.5M $643.5M
YoY Change -70.55% 166.9%
Cash & Equivalents $189.5M $643.5M
Short-Term Investments
Other Short-Term Assets $544.1M $507.6M
YoY Change 7.19% -5.01%
Inventory
Prepaid Expenses
Receivables $744.6M $726.5M
Other Receivables $500.0K $400.0K
Total Short-Term Assets $1.479B $1.878B
YoY Change -21.26% 35.45%
LONG-TERM ASSETS
Property, Plant & Equipment $159.2M $171.1M
YoY Change -6.98% 21.93%
Goodwill $680.2M $708.1M
YoY Change -3.93% -2.63%
Intangibles $499.1M $552.2M
YoY Change -9.62% -5.17%
Long-Term Investments
YoY Change
Other Assets $412.2M $200.4M
YoY Change 105.75% -3.96%
Total Long-Term Assets $2.999B $2.787B
YoY Change 7.61% 2.36%
TOTAL ASSETS
Total Short-Term Assets $1.479B $1.878B
Total Long-Term Assets $2.999B $2.787B
Total Assets $4.478B $4.665B
YoY Change -4.01% 13.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.89M $89.06M
YoY Change 2.06% -39.11%
Accrued Expenses $234.5M $235.4M
YoY Change -0.39% 52.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $263.3M $235.0M
YoY Change 12.04% 105.96%
Total Short-Term Liabilities $954.4M $944.0M
YoY Change 1.11% 23.28%
LONG-TERM LIABILITIES
Long-Term Debt $2.454B $2.703B
YoY Change -9.22% 3.45%
Other Long-Term Liabilities $120.9M $104.3M
YoY Change 15.94% 39.59%
Total Long-Term Liabilities $2.575B $2.807B
YoY Change -8.29% 4.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $954.4M $944.0M
Total Long-Term Liabilities $2.575B $2.807B
Total Liabilities $4.203B $4.335B
YoY Change -3.05% 6.53%
SHAREHOLDERS EQUITY
Retained Earnings $534.2M $215.5M
YoY Change 147.88% -256.22%
Common Stock $158.5M $120.8M
YoY Change 31.19% 12.4%
Preferred Stock
YoY Change
Treasury Stock (at cost) $519.6M $100.2M
YoY Change 418.46% 92.76%
Treasury Stock Shares
Shareholders Equity $29.68M $85.23M
YoY Change
Total Liabilities & Shareholders Equity $4.478B $4.665B
YoY Change -4.01% 13.52%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $102.6M $77.18M
YoY Change 32.94% -7.03%
Depreciation, Depletion And Amortization $20.60M $21.60M
YoY Change -4.63% 2.37%
Cash From Operating Activities $21.10M $62.20M
YoY Change -66.08% -43.45%
INVESTING ACTIVITIES
Capital Expenditures -$19.70M -$11.80M
YoY Change 66.95% -20.81%
Acquisitions
YoY Change
Other Investing Activities -$15.00M -$400.0K
YoY Change 3650.0% -140.0%
Cash From Investing Activities -$34.70M -$12.10M
YoY Change 186.78% -12.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -211.4M -86.70M
YoY Change 143.83% 43.31%
NET CHANGE
Cash From Operating Activities 21.10M 62.20M
Cash From Investing Activities -34.70M -12.10M
Cash From Financing Activities -211.4M -86.70M
Net Change In Cash -225.0M -36.60M
YoY Change 514.75% -202.81%
FREE CASH FLOW
Cash From Operating Activities $21.10M $62.20M
Capital Expenditures -$19.70M -$11.80M
Free Cash Flow $40.80M $74.00M
YoY Change -44.86% -40.75%

Facts In Submission

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us-gaap Income Loss From Equity Method Investments
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us-gaap Share Based Compensation
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27595000 USD
CY2017Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 USD
CY2016Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 USD
CY2017Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 USD
CY2017Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
532389000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-30082000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
29677000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1644000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
57661000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
43083000 USD
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
32208000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
55.97
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
275230000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
519604000 USD
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
15062000 USD
CY2017Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
12080000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-1064000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
21790000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73287000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66789000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67771000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72729000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72654000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66224000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67117000 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, 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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