2017 Q4 Form 10-Q Financial Statement

#000100443417000024 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $604.1M $585.7M $544.7M
YoY Change 9.76% 7.53% -11.16%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $359.5M $91.90M $94.20M
YoY Change 5.46% -2.44% -12.37%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.70M $26.00M $31.90M
YoY Change -17.85% -18.5% -8.86%
% of Gross Profit
Operating Expenses $412.2M $389.6M $373.7M
YoY Change 9.45% 4.25% -6.08%
Operating Profit $280.0M $289.5M $238.5M
YoY Change -7.25% 21.38% 10.83%
Interest Expense $72.10M $22.10M $22.40M
YoY Change -33.3% -1.34% -5.08%
% of Operating Profit 25.75% 7.63% 9.39%
Other Income/Expense, Net -$6.600M -$12.30M
YoY Change -46.34% -48.75%
Pretax Income $264.0M $282.9M $226.2M
YoY Change -6.35% 25.07% -9.19%
Income Tax $87.10M $66.10M $50.30M
% Of Pretax Income 32.99% 23.37% 22.24%
Net Earnings $315.4M $125.4M $110.2M
YoY Change 109.99% 13.79% 2.32%
Net Earnings / Revenue 52.21% 21.41% 20.23%
Basic Earnings Per Share $2.25 $2.04
Diluted Earnings Per Share $5.50 $2.22 $2.02
COMMON SHARES
Basic Shares Outstanding 55.58M shares 55.80M shares 53.90M shares
Diluted Shares Outstanding 58.30M shares 56.60M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $517.3M $467.1M $635.2M
YoY Change -6.49% -26.46% -10.97%
Cash & Equivalents $439.5M $374.7M $422.0M
Short-Term Investments $77.80M $92.40M $213.2M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $433.8M $487.4M $387.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $873.3M $862.1M $809.1M
YoY Change 7.27% 6.55% -19.72%
LONG-TERM ASSETS
Property, Plant & Equipment $111.0M $111.7M $113.4M
YoY Change 0.82% -1.5% 6.08%
Goodwill $2.663B $2.662B $2.644B
YoY Change 1.31% 0.66% -0.11%
Intangibles $1.450B $1.467B $1.546B
YoY Change -3.19% -5.12% -9.03%
Long-Term Investments $539.0M $3.544B $3.153B
YoY Change -84.0% 12.4% 57.64%
Other Assets
YoY Change
Total Long-Term Assets $7.829B $7.839B $7.514B
YoY Change -1.34% 4.33% 15.12%
TOTAL ASSETS
Total Short-Term Assets $873.3M $862.1M $809.1M
Total Long-Term Assets $7.829B $7.839B $7.514B
Total Assets $8.702B $8.701B $8.323B
YoY Change -0.54% 4.54% 10.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $698.3M $579.4M
YoY Change 20.52% -17.15%
Accrued Expenses $611.1M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $807.2M $698.3M $579.4M
YoY Change 10.68% 20.52% -17.15%
LONG-TERM LIABILITIES
Long-Term Debt $1.855B $1.914B $2.113B
YoY Change -12.08% -9.45% 17.46%
Other Long-Term Liabilities $182.4M $178.3M $170.3M
YoY Change 22.09% 4.7% -9.41%
Total Long-Term Liabilities $2.037B $2.092B $2.284B
YoY Change -9.82% -8.39% 14.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $807.2M $698.3M $579.4M
Total Long-Term Liabilities $2.037B $2.092B $2.284B
Total Liabilities $3.312B $3.493B $3.515B
YoY Change -9.25% -0.64% 8.69%
SHAREHOLDERS EQUITY
Retained Earnings $3.699B $3.394B $2.903B
YoY Change 21.09% 16.94% 14.78%
Common Stock $809.2M $850.3M $774.3M
YoY Change -24.66% 9.82% 43.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $663.7M $566.1M $413.5M
YoY Change 71.94% 36.9% 4.18%
Treasury Stock Shares 3.400M shares
Shareholders Equity $3.822B $3.628B $3.183B
YoY Change
Total Liabilities & Shareholders Equity $8.702B $8.701B $8.323B
YoY Change -0.54% 4.54% 10.46%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $315.4M $125.4M $110.2M
YoY Change 109.99% 13.79% 2.32%
Depreciation, Depletion And Amortization $26.70M $26.00M $31.90M
YoY Change -17.85% -18.5% -8.86%
Cash From Operating Activities $369.9M $356.5M $342.0M
YoY Change 1.31% 4.24% -11.33%
INVESTING ACTIVITIES
Capital Expenditures -$4.600M -$6.700M -$6.500M
YoY Change -9.8% 3.08% -52.9%
Acquisitions
YoY Change
Other Investing Activities $13.50M $10.60M -$322.2M
YoY Change -102.95% -103.29% 1660.66%
Cash From Investing Activities $8.900M $3.900M -$328.7M
YoY Change -101.92% -101.19% 923.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -318.2M -354.3M 52.10M
YoY Change -295.33% -780.04% -117.73%
NET CHANGE
Cash From Operating Activities 369.9M 356.5M 342.0M
Cash From Investing Activities 8.900M 3.900M -328.7M
Cash From Financing Activities -318.2M -354.3M 52.10M
Net Change In Cash 60.60M 6.100M 65.40M
YoY Change -6.05% -90.67% 9.55%
FREE CASH FLOW
Cash From Operating Activities $369.9M $356.5M $342.0M
Capital Expenditures -$4.600M -$6.700M -$6.500M
Free Cash Flow $374.5M $363.2M $348.5M
YoY Change 1.16% 4.22% -12.77%

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us-gaap Earnings Per Share Basic
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2.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.90
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2.22
us-gaap Earnings Per Share Diluted
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6.57
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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66400000 USD
CY2017Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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73800000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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4100000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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11800000 USD
CY2017Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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4000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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11500000 USD
us-gaap Equity Method Investment Dividends Or Distributions
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287000000 USD
us-gaap Equity Method Investment Dividends Or Distributions
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368000000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
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CY2017Q3 us-gaap Goodwill
Goodwill
2661800000 USD
us-gaap Goodwill Foreign Currency Translation Gain Loss
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33700000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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226200000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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692700000 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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282900000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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803100000 USD
CY2016Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
67500000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
200700000 USD
CY2017Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
70700000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
231600000 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
50300000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
159700000 USD
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
66100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
188200000 USD
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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131700000 USD
us-gaap Increase Decrease In Operating Liabilities
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us-gaap Increase Decrease In Operating Liabilities
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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3900000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2016Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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2200000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2017Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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2200000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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2200000 shares
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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500000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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500000 shares
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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300000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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300000 shares
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CY2016Q3 us-gaap Interest Expense
InterestExpense
22400000 USD
us-gaap Interest Expense
InterestExpense
66400000 USD
CY2017Q3 us-gaap Interest Expense
InterestExpense
21500000 USD
us-gaap Interest Expense
InterestExpense
65800000 USD
CY2016Q3 us-gaap Interest On Convertible Debt Net Of Tax
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3900000 USD
us-gaap Interest On Convertible Debt Net Of Tax
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11600000 USD
CY2017Q3 us-gaap Interest On Convertible Debt Net Of Tax
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3900000 USD
us-gaap Interest On Convertible Debt Net Of Tax
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11600000 USD
CY2016Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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3368300000 USD
CY2017Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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CY2016Q3 us-gaap Labor And Related Expense
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244200000 USD
us-gaap Labor And Related Expense
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702900000 USD
CY2017Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
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us-gaap Labor And Related Expense
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CY2016Q4 us-gaap Liabilities
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CY2017Q3 us-gaap Liabilities
Liabilities
3492500000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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8749100000 USD
CY2017Q3 us-gaap Liabilities And Stockholders Equity
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CY2016Q4 us-gaap Long Term Debt
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CY2016Q4 us-gaap Marketable Securities
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CY2017Q3 us-gaap Marketable Securities
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92400000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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270100000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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266800000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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36600000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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4900000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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684500000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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800500000 USD
CY2016Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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322500000 USD
CY2017Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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114100000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
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334100000 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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129300000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
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385800000 USD
CY2016Q3 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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240700000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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11700000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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2800000 USD
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us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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us-gaap Operating Expenses
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us-gaap Operating Expenses
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2800000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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100000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
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100000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Selling General And Administrative Expense
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91900000 USD
us-gaap Selling General And Administrative Expense
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CY2016Q4 us-gaap Senior Notes
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Stock Issued During Period Value Share Based Compensation
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CY2016Q4 us-gaap Stockholders Equity
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CY2017Q3 us-gaap Stockholders Equity
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3769100000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4029800000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4426500000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4404300000 USD
CY2016Q3 us-gaap Trading Securities
TradingSecurities
40500000 USD
CY2017Q3 us-gaap Trading Securities
TradingSecurities
51100000 USD
CY2015Q4 us-gaap Trading Securities Cost
TradingSecuritiesCost
34400000 USD
CY2016Q4 us-gaap Trading Securities Cost
TradingSecuritiesCost
44200000 USD
CY2017Q3 us-gaap Trading Securities Realized Gain
TradingSecuritiesRealizedGain
1700000 USD
us-gaap Trading Securities Realized Gain
TradingSecuritiesRealizedGain
5000000 USD
us-gaap Trading Securities Unrealized Holding Gain
TradingSecuritiesUnrealizedHoldingGain
6600000 USD
us-gaap Trading Securities Unrealized Holding Gain
TradingSecuritiesUnrealizedHoldingGain
8500000 USD
us-gaap Trading Securities Unrealized Holding Loss
TradingSecuritiesUnrealizedHoldingLoss
500000 USD
us-gaap Trading Securities Unrealized Holding Loss
TradingSecuritiesUnrealizedHoldingLoss
1600000 USD
CY2017Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
175.68
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
164.00
CY2016Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
1800000 shares
CY2017Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
2900000 shares
CY2017Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
400000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1700000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
386000000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
566100000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
33400000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
276400000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56600000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58800000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53900000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56300000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. </font></div></div>

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