2018 Q2 Form 10-Q Financial Statement

#000031815418000015 Filed on July 27, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $6.059B $5.810B
YoY Change 4.29% 2.14%
Cost Of Revenue $1.024B $1.024B
YoY Change 0.0% -2.48%
Gross Profit $4.655B $4.550B
YoY Change 2.31% 2.85%
Gross Profit Margin 76.83% 78.31%
Selling, General & Admin $1.353B $1.209B
YoY Change 11.91% -6.42%
% of Gross Profit 29.07% 26.57%
Research & Development $869.0M $873.0M
YoY Change -0.46% -3.0%
% of Gross Profit 18.67% 19.19%
Depreciation & Amortization $484.0M $518.0M
YoY Change -6.56% -0.77%
% of Gross Profit 10.4% 11.38%
Operating Expenses $2.222B $2.082B
YoY Change 6.72% -5.02%
Operating Profit $2.832B $2.698B
YoY Change 4.97% 13.36%
Interest Expense -$185.0M -$156.0M
YoY Change 18.59% -11.36%
% of Operating Profit -6.53% -5.78%
Other Income/Expense, Net $162.0M $165.0M
YoY Change -1.82% 20.44%
Pretax Income $2.647B $2.542B
YoY Change 4.13% 15.34%
Income Tax $351.0M $391.0M
% Of Pretax Income 13.26% 15.38%
Net Earnings $2.296B $2.151B
YoY Change 6.74% 15.03%
Net Earnings / Revenue 37.89% 37.02%
Basic Earnings Per Share $3.50 $2.93
Diluted Earnings Per Share $3.48 $2.91
COMMON SHARES
Basic Shares Outstanding 656.0M shares 734.0M shares
Diluted Shares Outstanding 660.0M shares 738.0M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.40B $39.23B
YoY Change -25.06% 11.97%
Cash & Equivalents $10.13B $2.629B
Short-Term Investments $19.26B $36.60B
Other Short-Term Assets $2.008B $2.694B
YoY Change -25.46% 24.49%
Inventory $3.063B $2.961B
Prepaid Expenses
Receivables $3.504B $3.560B
Other Receivables $0.00 $0.00
Total Short-Term Assets $37.97B $48.44B
YoY Change -21.62% 12.79%
LONG-TERM ASSETS
Property, Plant & Equipment $4.922B $4.980B
YoY Change -1.16% 1.97%
Goodwill $14.72B $14.77B
YoY Change -0.28% -0.22%
Intangibles $8.443B $9.561B
YoY Change -11.69% -13.62%
Long-Term Investments
YoY Change
Other Assets $1.625B $1.838B
YoY Change -11.59% 3.67%
Total Long-Term Assets $29.71B $31.15B
YoY Change -4.59% -4.24%
TOTAL ASSETS
Total Short-Term Assets $37.97B $48.44B
Total Long-Term Assets $29.71B $31.15B
Total Assets $67.68B $79.59B
YoY Change -14.96% 5.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.026B $883.0M
YoY Change 16.19% 1.49%
Accrued Expenses $5.891B $5.473B
YoY Change 7.64% 17.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.288B $1.459B
YoY Change 193.9% -72.44%
Total Short-Term Liabilities $11.21B $7.815B
YoY Change 43.38% -27.84%
LONG-TERM LIABILITIES
Long-Term Debt $30.21B $33.60B
YoY Change -10.1% 20.32%
Other Long-Term Liabilities $1.443B $1.543B
YoY Change -6.48% -61.25%
Total Long-Term Liabilities $31.65B $35.15B
YoY Change -9.94% 10.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.21B $7.815B
Total Long-Term Liabilities $31.65B $35.15B
Total Liabilities $42.86B $42.96B
YoY Change -0.24% 0.52%
SHAREHOLDERS EQUITY
Retained Earnings -$15.27B $1.378B
YoY Change -1207.84% -487.08%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.91B $31.72B
YoY Change
Total Liabilities & Shareholders Equity $67.68B $79.59B
YoY Change -14.96% 5.45%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $2.296B $2.151B
YoY Change 6.74% 15.03%
Depreciation, Depletion And Amortization $484.0M $518.0M
YoY Change -6.56% -0.77%
Cash From Operating Activities $2.102B $2.326B
YoY Change -9.63% -13.11%
INVESTING ACTIVITIES
Capital Expenditures -$187.0M -$185.0M
YoY Change 1.08% -35.54%
Acquisitions
YoY Change
Other Investing Activities $3.125B -$1.628B
YoY Change -291.95% 340.0%
Cash From Investing Activities $2.938B -$1.813B
YoY Change -262.05% 175.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.650B -1.242B
YoY Change 274.4% -45.67%
NET CHANGE
Cash From Operating Activities 2.102B 2.326B
Cash From Investing Activities 2.938B -1.813B
Cash From Financing Activities -4.650B -1.242B
Net Change In Cash 390.0M -729.0M
YoY Change -153.5% 174.06%
FREE CASH FLOW
Cash From Operating Activities $2.102B $2.326B
Capital Expenditures -$187.0M -$185.0M
Free Cash Flow $2.289B $2.511B
YoY Change -8.84% -15.28%

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;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;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 U.S. generally accepted accounting principles (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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