2018 Q4 Form 10-Q Financial Statement

#000031815418000022 Filed on October 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $6.230B $5.904B $5.569B
YoY Change 11.87% 2.27% -1.66%
Cost Of Revenue $1.096B $1.037B $1.059B
YoY Change 3.49% 4.75% -0.75%
Gross Profit $4.905B $4.473B $4.510B
YoY Change 8.76% 0.22% -1.87%
Gross Profit Margin 78.73% 75.76% 80.98%
Selling, General & Admin $1.559B $1.293B $1.427B
YoY Change 9.25% 10.51% 7.86%
% of Gross Profit 31.78% 28.91% 31.64%
Research & Development $1.182B $926.0M $1.043B
YoY Change 13.33% 5.59% -3.25%
% of Gross Profit 24.1% 20.7% 23.13%
Depreciation & Amortization $490.0M $501.0M $449.0M
YoY Change 9.13% 7.97% -19.68%
% of Gross Profit 9.99% 11.2% 9.96%
Operating Expenses $2.752B $2.219B $2.498B
YoY Change 10.17% 8.4% -1.03%
Operating Profit $2.153B $2.323B $2.012B
YoY Change 7.01% -4.76% -2.9%
Interest Expense -$197.0M -$229.0M -$31.00M
YoY Change 535.48% 294.83% -84.65%
% of Operating Profit -9.15% -9.86% -1.54%
Other Income/Expense, Net $126.0M
YoY Change -52.81%
Pretax Income $2.185B $2.094B $2.214B
YoY Change -1.31% -12.05% -3.02%
Income Tax $257.0M $235.0M $378.0M
% Of Pretax Income 11.76% 11.22% 17.07%
Net Earnings $1.928B $1.859B -$4.264B
YoY Change -145.22% -8.02% -320.36%
Net Earnings / Revenue 30.95% 31.49% -76.57%
Basic Earnings Per Share $3.04 $2.88 -$5.89
Diluted Earnings Per Share $3.01 $2.86 -$5.89
COMMON SHARES
Basic Shares Outstanding 637.2M shares 645.0M shares 725.9M shares
Diluted Shares Outstanding 649.0M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.30B $29.92B $41.68B
YoY Change -29.69% -27.64% 9.43%
Cash & Equivalents $6.945B $11.96B $3.800B
Short-Term Investments $22.36B $17.97B $37.88B
Other Short-Term Assets $1.794B $1.941B $1.727B
YoY Change 3.88% -6.23% -14.29%
Inventory $2.940B $3.017B $2.834B
Prepaid Expenses
Receivables $3.580B $3.441B $3.237B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $37.62B $38.32B $49.48B
YoY Change -23.97% -22.98% 7.53%
LONG-TERM ASSETS
Property, Plant & Equipment $4.958B $4.899B $4.989B
YoY Change -0.62% -0.31% 0.56%
Goodwill $14.70B $14.68B $14.76B
YoY Change -0.42% -0.62% 0.0%
Intangibles $7.443B $7.782B $8.609B
YoY Change -13.54% -12.3% -16.25%
Long-Term Investments
YoY Change
Other Assets $1.698B $1.648B $2.119B
YoY Change -19.87% -18.25% 30.4%
Total Long-Term Assets $28.80B $29.01B $30.48B
YoY Change -5.51% -5.12% -3.6%
TOTAL ASSETS
Total Short-Term Assets $37.62B $38.32B $49.48B
Total Long-Term Assets $28.80B $29.01B $30.48B
Total Assets $66.42B $67.33B $79.95B
YoY Change -16.93% -16.18% 3.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.207B $1.042B $1.352B
YoY Change -10.72% 18.54% 47.44%
Accrued Expenses $7.862B $6.313B $6.516B
YoY Change 20.66% 18.78% 10.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.419B $5.077B $1.152B
YoY Change 283.59% 153.98% -73.84%
Total Short-Term Liabilities $13.49B $12.43B $9.020B
YoY Change 49.53% 51.74% -19.49%
LONG-TERM LIABILITIES
Long-Term Debt $29.51B $29.35B $34.19B
YoY Change -13.69% -13.11% 13.24%
Other Long-Term Liabilities $1.284B $1.392B $1.238B
YoY Change 3.72% 9.78% -17.41%
Total Long-Term Liabilities $30.79B $30.74B $35.43B
YoY Change -13.08% -12.28% 11.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.49B $12.43B $9.020B
Total Long-Term Liabilities $30.79B $30.74B $35.43B
Total Liabilities $44.28B $43.17B $44.45B
YoY Change -0.37% -0.15% 3.62%
SHAREHOLDERS EQUITY
Retained Earnings -$17.98B -$15.99B -$5.072B
YoY Change 254.44% -1001.18% 1057.99%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.50B $14.35B $25.24B
YoY Change
Total Liabilities & Shareholders Equity $66.42B $67.33B $79.95B
YoY Change -16.93% -16.18% 3.0%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $1.928B $1.859B -$4.264B
YoY Change -145.22% -8.02% -320.36%
Depreciation, Depletion And Amortization $490.0M $501.0M $449.0M
YoY Change 9.13% 7.97% -19.68%
Cash From Operating Activities $3.194B $3.273B $3.012B
YoY Change 6.04% -5.24% -2.84%
INVESTING ACTIVITIES
Capital Expenditures -$225.0M -$171.0M -$153.0M
YoY Change 47.06% 8.23% -53.07%
Acquisitions
YoY Change
Other Investing Activities -$4.412B $1.303B $75.00M
YoY Change -5982.67% -171.67% -108.37%
Cash From Investing Activities -$4.637B $1.132B -$78.00M
YoY Change 5844.87% -157.29% -93.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.568B -2.580B -2.134B
YoY Change 67.2% 133.06% 0.57%
NET CHANGE
Cash From Operating Activities 3.194B 3.273B 3.012B
Cash From Investing Activities -4.637B 1.132B -78.00M
Cash From Financing Activities -3.568B -2.580B -2.134B
Net Change In Cash -5.011B 1.825B 800.0M
YoY Change -726.38% 391.91% -427.87%
FREE CASH FLOW
Cash From Operating Activities $3.194B $3.273B $3.012B
Capital Expenditures -$225.0M -$171.0M -$153.0M
Free Cash Flow $3.419B $3.444B $3.165B
YoY Change 8.03% -4.65% -7.62%

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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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