2018 Q1 Form 10-Q Financial Statement

#000100443418000013 Filed on May 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $612.5M $544.3M
YoY Change 12.53% -0.2%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $106.4M $88.70M
YoY Change 19.95% -7.51%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.70M $27.10M
YoY Change 5.9% -14.24%
% of Gross Profit
Operating Expenses $435.4M $391.7M
YoY Change 11.16% 6.85%
Operating Profit $262.5M
YoY Change 6.36%
Interest Expense $21.60M $22.50M
YoY Change -4.0% 0.9%
% of Operating Profit 8.57%
Other Income/Expense, Net -$9.200M
YoY Change -43.56%
Pretax Income $287.5M $253.3M
YoY Change 13.5% 9.89%
Income Tax $63.50M $59.70M
% Of Pretax Income 22.09% 23.57%
Net Earnings $153.0M $122.5M
YoY Change 24.9% 17.79%
Net Earnings / Revenue 24.98% 22.51%
Basic Earnings Per Share $2.80 $2.16
Diluted Earnings Per Share $2.77 $2.13
COMMON SHARES
Basic Shares Outstanding 54.60M shares 56.70M shares
Diluted Shares Outstanding 57.00M shares 59.20M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $415.2M $371.4M
YoY Change 11.79% -26.57%
Cash & Equivalents $334.2M $293.6M
Short-Term Investments $81.00M $77.80M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $532.2M $449.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $866.4M $742.6M
YoY Change 16.67% -6.37%
LONG-TERM ASSETS
Property, Plant & Equipment $111.3M $109.1M
YoY Change 2.02% -3.54%
Goodwill $2.667B $2.634B
YoY Change 1.28% -1.44%
Intangibles $1.443B $1.482B
YoY Change -2.65% -10.03%
Long-Term Investments $3.258B $3.563B
YoY Change -8.56% 26.75%
Other Assets
YoY Change
Total Long-Term Assets $7.718B $7.848B
YoY Change -1.65% 7.53%
TOTAL ASSETS
Total Short-Term Assets $866.4M $742.6M
Total Long-Term Assets $7.718B $7.848B
Total Assets $8.584B $8.590B
YoY Change -0.07% 6.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $667.3M $541.6M
YoY Change 23.21% -5.15%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $667.3M $541.6M
YoY Change 23.21% -5.15%
LONG-TERM LIABILITIES
Long-Term Debt $1.862B $2.026B
YoY Change -8.12% -11.94%
Other Long-Term Liabilities $216.3M $253.3M
YoY Change -14.61% 33.53%
Total Long-Term Liabilities $2.078B $2.279B
YoY Change -8.84% -8.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $667.3M $541.6M
Total Long-Term Liabilities $2.078B $2.279B
Total Liabilities $3.220B $3.488B
YoY Change -7.67% -4.73%
SHAREHOLDERS EQUITY
Retained Earnings $3.835B $3.165B
YoY Change 21.15% 13.71%
Common Stock $664.8M $925.8M
YoY Change -28.19% 70.81%
Preferred Stock
YoY Change
Treasury Stock (at cost) $821.8M $397.6M
YoY Change 106.69% -7.71%
Treasury Stock Shares
Shareholders Equity $3.677B $3.585B
YoY Change
Total Liabilities & Shareholders Equity $8.584B $8.590B
YoY Change -0.07% 6.16%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $153.0M $122.5M
YoY Change 24.9% 17.79%
Depreciation, Depletion And Amortization $28.70M $27.10M
YoY Change 5.9% -14.24%
Cash From Operating Activities $205.0M $122.1M
YoY Change 67.9% 376.95%
INVESTING ACTIVITIES
Capital Expenditures $5.500M $4.100M
YoY Change 34.15% 0.0%
Acquisitions
YoY Change
Other Investing Activities $1.600M $20.40M
YoY Change -92.16% -103.73%
Cash From Investing Activities -$3.900M $16.30M
YoY Change -123.93% -102.96%
FINANCING ACTIVITIES
Cash Dividend Paid $16.40M $11.30M
YoY Change 45.13%
Common Stock Issuance & Retirement, Net $167.1M $59.70M
YoY Change 179.9% 381.45%
Debt Paid & Issued, Net $435.0M $160.0M
YoY Change 171.88%
Cash From Financing Activities -$313.1M -$277.4M
YoY Change 12.87% -206.77%
NET CHANGE
Cash From Operating Activities $205.0M $122.1M
Cash From Investing Activities -$3.900M $16.30M
Cash From Financing Activities -$313.1M -$277.4M
Net Change In Cash -$112.0M -$139.0M
YoY Change -19.42% -47.65%
FREE CASH FLOW
Cash From Operating Activities $205.0M $122.1M
Capital Expenditures $5.500M $4.100M
Free Cash Flow $199.5M $118.0M
YoY Change 69.07% 448.84%

Facts In Submission

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205000000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
122500000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
153000000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
126300000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
157700000 USD
CY2017Q1 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsRedeemable
71100000 USD
CY2018Q1 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsRedeemable
71000000 USD
CY2017Q1 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
800000 USD
CY2018Q1 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
7000000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
391700000 USD
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
435400000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
4900000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
19200000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Before Tax
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CY2017Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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300000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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12200000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
29100000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
16800000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
29400000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
2400000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0 USD
CY2017Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
11400000 USD
CY2018Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
12000000 USD
CY2017Q4 us-gaap Other Liabilities
OtherLiabilities
182400000 USD
CY2018Q1 us-gaap Other Liabilities
OtherLiabilities
216300000 USD
CY2017Q4 us-gaap Other Minority Interests
OtherMinorityInterests
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CY2018Q1 us-gaap Other Minority Interests
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CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5700000 USD
CY2018Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1200000 USD
CY2017Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
-31300000 USD
CY2018Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
-6600000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
80000000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
173100000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
11300000 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
16400000 USD
CY2017Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
92000000 USD
CY2018Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
112400000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
23600000 USD
CY2018Q1 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
14500000 USD
CY2017Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
4700000 USD
CY2018Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2017Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
6200000 USD
CY2018Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
5000000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
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4100000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5500000 USD
CY2017Q1 us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
6000000 USD
CY2018Q1 us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
6200000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
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20300000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3000000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
75000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
440000000 USD
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-11800000 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-10900000 USD
CY2017Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
37300000 USD
CY2018Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
13800000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
193600000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
224000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
111000000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
111300000 USD
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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811900000 USD
CY2018Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
941600000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
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160000000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
435000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3698500000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3834900000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
88700000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
106400000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
26000000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
30100000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5100000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-9500000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3822200000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
3677000000 USD
CY2017Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
4485900000 USD
CY2018Q1 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
4498800000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4426500000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4369000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4578500000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4422600000 USD
CY2018Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
192.70
CY2017Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
3400000 shares
CY2018Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
4200000 shares
CY2018Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
800000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
663700000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
821800000 USD
CY2017Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
80000000 USD
CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
150800000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59200000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56700000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54600000 shares
CY2018Q1 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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