2015 Q1 Form 10-Q Financial Statement

#000031815415000010 Filed on April 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $5.033B $4.521B
YoY Change 11.32% 6.68%
Cost Of Revenue $1.033B $1.090B
YoY Change -5.23% 46.51%
Gross Profit $3.841B $3.266B
YoY Change 17.61% -4.14%
Gross Profit Margin 76.32% 72.24%
Selling, General & Admin $1.026B $1.023B
YoY Change 0.29% -11.66%
% of Gross Profit 26.71% 31.32%
Research & Development $894.0M $1.027B
YoY Change -12.95% 16.97%
% of Gross Profit 23.28% 31.45%
Depreciation & Amortization $524.0M $518.0M
YoY Change 1.16% 87.0%
% of Gross Profit 13.64% 15.86%
Operating Expenses $1.920B $2.050B
YoY Change -6.34% 0.69%
Operating Profit $2.022B $1.364B
YoY Change 48.24% -5.41%
Interest Expense -$146.0M -$160.0M
YoY Change -8.75% 61.62%
% of Operating Profit -7.22% -11.73%
Other Income/Expense, Net $106.0M $99.00M
YoY Change 7.07% -39.63%
Pretax Income $1.876B $1.204B
YoY Change 55.81% -10.35%
Income Tax $253.0M $131.0M
% Of Pretax Income 13.49% 10.88%
Net Earnings $1.623B $1.073B
YoY Change 51.26% -25.17%
Net Earnings / Revenue 32.25% 23.73%
Basic Earnings Per Share $2.13 $1.42
Diluted Earnings Per Share $2.11 $1.40
COMMON SHARES
Basic Shares Outstanding 761.0M shares 757.0M shares
Diluted Shares Outstanding 770.0M shares 768.0M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.12B $19.80B
YoY Change 36.95% -6.91%
Cash & Equivalents $2.864B $3.687B
Short-Term Investments $24.25B $16.12B
Other Short-Term Assets $2.712B $3.020B
YoY Change -10.2% 39.88%
Inventory $2.686B $2.966B
Prepaid Expenses
Receivables $2.548B $2.514B
Other Receivables $0.00 $0.00
Total Short-Term Assets $35.06B $28.30B
YoY Change 23.89% -1.37%
LONG-TERM ASSETS
Property, Plant & Equipment $5.123B $5.365B
YoY Change -4.51% 1.3%
Goodwill $14.72B $14.83B
YoY Change -0.75% 17.68%
Intangibles $12.27B $13.57B
YoY Change -9.59% 248.11%
Long-Term Investments $3.414B
YoY Change
Other Assets $1.779B $1.525B
YoY Change 16.66% 32.84%
Total Long-Term Assets $33.89B $38.70B
YoY Change -12.44% 68.67%
TOTAL ASSETS
Total Short-Term Assets $35.06B $28.30B
Total Long-Term Assets $33.89B $38.70B
Total Assets $68.95B $67.00B
YoY Change 2.91% 29.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $888.0M $949.0M
YoY Change -6.43% 0.96%
Accrued Expenses $4.948B $4.749B
YoY Change 4.19% 13.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0M $2.505B
YoY Change -80.04% 35685.71%
Total Short-Term Liabilities $6.336B $8.203B
YoY Change -22.76% 59.53%
LONG-TERM LIABILITIES
Long-Term Debt $29.84B $29.52B
YoY Change 1.09% 23.59%
Other Long-Term Liabilities $2.939B $6.541B
YoY Change -55.07% 109.51%
Total Long-Term Liabilities $32.78B $6.541B
YoY Change 401.15% 109.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.336B $8.203B
Total Long-Term Liabilities $32.78B $6.541B
Total Liabilities $39.12B $14.74B
YoY Change 165.3% 78.41%
SHAREHOLDERS EQUITY
Retained Earnings -$4.051B -$7.023B
YoY Change -42.32% -30.54%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.51B $22.74B
YoY Change
Total Liabilities & Shareholders Equity $68.95B $67.00B
YoY Change 2.91% 29.75%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $1.623B $1.073B
YoY Change 51.26% -25.17%
Depreciation, Depletion And Amortization $524.0M $518.0M
YoY Change 1.16% 87.0%
Cash From Operating Activities $1.482B $1.142B
YoY Change 29.77% 8.87%
INVESTING ACTIVITIES
Capital Expenditures $118.0M $172.0M
YoY Change -31.4% 8.86%
Acquisitions $0.00 $104.0M
YoY Change -100.0%
Other Investing Activities $103.0M $44.00M
YoY Change 134.09% 633.33%
Cash From Investing Activities -$952.0M -$765.0M
YoY Change 24.44% -142.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $464.0M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $125.0M $125.0M
YoY Change 0.0% -95.0%
Cash From Financing Activities -$1.397B -$495.0M
YoY Change 182.22% -86.19%
NET CHANGE
Cash From Operating Activities $1.482B $1.142B
Cash From Investing Activities -$952.0M -$765.0M
Cash From Financing Activities -$1.397B -$495.0M
Net Change In Cash -$867.0M -$118.0M
YoY Change 634.75% -83.77%
FREE CASH FLOW
Cash From Operating Activities $1.482B $1.142B
Capital Expenditures $118.0M $172.0M
Free Cash Flow $1.364B $970.0M
YoY Change 40.62% 8.87%

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CY2015Q1 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;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:10px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates.</font></div></div>

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