2018 Q1 Form 10-Q Financial Statement

#000151499118000010 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $740.8M $720.2M
YoY Change 2.87% 1.93%
Cost Of Revenue $320.4M $298.6M
YoY Change 7.28% 8.87%
Gross Profit $420.5M $421.6M
YoY Change -0.27% -2.48%
Gross Profit Margin 56.76% 58.54%
Selling, General & Admin $166.4M $163.7M
YoY Change 1.67% 6.37%
% of Gross Profit 39.59% 38.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.35M $23.49M
YoY Change -13.36% 19.67%
% of Gross Profit 4.84% 5.57%
Operating Expenses $166.4M $163.7M
YoY Change 1.67% 6.37%
Operating Profit $233.7M $231.7M
YoY Change 0.86% -10.43%
Interest Expense $38.21M $30.50M
YoY Change 25.26% -3.94%
% of Operating Profit 16.35% 13.17%
Other Income/Expense, Net -$16.24M -$15.96M
YoY Change 1.77% -80.1%
Pretax Income $217.4M $215.7M
YoY Change 0.79% 20.78%
Income Tax $56.88M $73.10M
% Of Pretax Income 26.16% 33.89%
Net Earnings $156.9M $136.2M
YoY Change 15.16% 20.07%
Net Earnings / Revenue 21.18% 18.91%
Basic Earnings Per Share $2.57 $2.00
Diluted Earnings Per Share $2.54 $1.98
COMMON SHARES
Basic Shares Outstanding 60.97M shares 68.02M shares
Diluted Shares Outstanding 61.72M shares 68.76M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $529.2M $403.6M
YoY Change 31.12% -42.57%
Cash & Equivalents $529.2M $403.6M
Short-Term Investments
Other Short-Term Assets $567.0M $532.9M
YoY Change 6.4% -0.39%
Inventory
Prepaid Expenses
Receivables $793.3M $716.9M
Other Receivables $0.00 $500.0K
Total Short-Term Assets $1.884B $1.654B
YoY Change 13.88% -14.12%
LONG-TERM ASSETS
Property, Plant & Equipment $185.4M $169.2M
YoY Change 9.58% -2.73%
Goodwill $707.7M $662.1M
YoY Change 6.88% -9.55%
Intangibles $472.3M $498.7M
YoY Change -5.29% -12.64%
Long-Term Investments $81.40M
YoY Change
Other Assets $549.9M $379.3M
YoY Change 44.97% 87.77%
Total Long-Term Assets $3.169B $2.816B
YoY Change 12.55% 2.32%
TOTAL ASSETS
Total Short-Term Assets $1.884B $1.654B
Total Long-Term Assets $3.169B $2.816B
Total Assets $5.053B $4.470B
YoY Change 13.04% -4.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.82M $97.48M
YoY Change -0.68% -25.82%
Accrued Expenses $235.3M $300.2M
YoY Change -21.62% 78.37%
Deferred Revenue $51.92M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.800M $244.9M
YoY Change -98.04% 43.47%
Total Short-Term Liabilities $744.9M $965.6M
YoY Change -22.85% 15.82%
LONG-TERM LIABILITIES
Long-Term Debt $3.101B $2.526B
YoY Change 22.79% -9.86%
Other Long-Term Liabilities $153.2M $121.3M
YoY Change 26.29% 30.94%
Total Long-Term Liabilities $3.254B $2.647B
YoY Change 22.95% -8.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $744.9M $965.6M
Total Long-Term Liabilities $3.254B $2.647B
Total Liabilities $4.658B $4.196B
YoY Change 11.01% -3.59%
SHAREHOLDERS EQUITY
Retained Earnings $936.4M $431.6M
YoY Change 116.94% 212.0%
Common Stock $182.3M $146.9M
YoY Change 24.06% 19.49%
Preferred Stock
YoY Change
Treasury Stock (at cost) $793.1M $366.7M
YoY Change 116.3% 605.2%
Treasury Stock Shares
Shareholders Equity $230.7M $31.45M
YoY Change
Total Liabilities & Shareholders Equity $5.113B $4.470B
YoY Change 14.39% -4.45%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $156.9M $136.2M
YoY Change 15.16% 20.07%
Depreciation, Depletion And Amortization $20.35M $23.49M
YoY Change -13.36% 19.67%
Cash From Operating Activities $117.0M $144.9M
YoY Change -19.27% -13.44%
INVESTING ACTIVITIES
Capital Expenditures $11.94M $20.21M
YoY Change -40.9% 63.12%
Acquisitions
YoY Change
Other Investing Activities -$42.10M -$28.00M
YoY Change 50.36%
Cash From Investing Activities -$54.09M -$48.20M
YoY Change 12.22% 288.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $83.64M $91.42M
YoY Change -8.52%
Debt Paid & Issued, Net $0.00 $55.50M
YoY Change -100.0% -91.97%
Cash From Financing Activities -$101.8M -172.8M
YoY Change -41.07% -174.68%
NET CHANGE
Cash From Operating Activities $117.0M 144.9M
Cash From Investing Activities -$54.09M -48.20M
Cash From Financing Activities -$101.8M -172.8M
Net Change In Cash -$38.95M -76.10M
YoY Change -48.82% -119.69%
FREE CASH FLOW
Cash From Operating Activities $117.0M $144.9M
Capital Expenditures $11.94M $20.21M
Free Cash Flow $105.0M $124.7M
YoY Change -15.77% -19.56%

Facts In Submission

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CY2017Q4 us-gaap Unamortized Debt Issuance Expense
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CY2018Q1 us-gaap Unamortized Debt Issuance Expense
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CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q1 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 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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