2019 Q1 Form 10-Q Financial Statement

#000031815419000018 Filed on May 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2017 Q4
Revenue $5.557B $5.554B $5.569B
YoY Change 0.05% 1.65% -1.66%
Cost Of Revenue $1.055B $944.0M $1.059B
YoY Change 11.76% -5.22% -0.75%
Gross Profit $4.231B $4.399B $4.510B
YoY Change -3.82% 4.66% -1.87%
Gross Profit Margin 76.14% 79.2% 80.98%
Selling, General & Admin $1.154B $1.127B $1.427B
YoY Change 2.4% 5.92% 7.86%
% of Gross Profit 27.27% 25.62% 31.64%
Research & Development $879.0M $760.0M $1.043B
YoY Change 15.66% -1.17% -3.25%
% of Gross Profit 20.78% 17.28% 23.13%
Depreciation & Amortization $495.0M $471.0M $449.0M
YoY Change 5.1% -10.11% -19.68%
% of Gross Profit 11.7% 10.71% 9.96%
Operating Expenses $2.033B $1.887B $2.498B
YoY Change 7.74% 2.95% -1.03%
Operating Profit $2.472B $2.726B $2.012B
YoY Change -9.32% 5.21% -2.9%
Interest Expense -$158.0M -$187.0M -$31.00M
YoY Change -15.51% 42.75% -84.65%
% of Operating Profit -6.39% -6.86% -1.54%
Other Income/Expense, Net $185.0M $231.0M
YoY Change -19.91% 18.46%
Pretax Income $2.314B $2.619B $2.214B
YoY Change -11.65% 6.46% -3.02%
Income Tax $322.0M $308.0M $378.0M
% Of Pretax Income 13.92% 11.76% 17.07%
Net Earnings $1.992B $2.311B -$4.264B
YoY Change -13.8% 11.59% -320.36%
Net Earnings / Revenue 35.85% 41.61% -76.57%
Basic Earnings Per Share $3.20 $3.27 -$5.89
Diluted Earnings Per Share $3.18 $3.25 -$5.89
COMMON SHARES
Basic Shares Outstanding 622.0M shares 707.0M shares 725.9M shares
Diluted Shares Outstanding 626.0M shares 711.0M shares

Balance Sheet

Concept 2019 Q1 2018 Q1 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.30B $32.17B $41.68B
YoY Change -18.25% -16.21% 9.43%
Cash & Equivalents $7.358B $9.741B $3.800B
Short-Term Investments $18.94B $22.43B $37.88B
Other Short-Term Assets $2.063B $1.932B $1.727B
YoY Change 6.78% -0.36% -14.29%
Inventory $3.016B $2.952B $2.834B
Prepaid Expenses
Receivables $3.771B $3.633B $3.237B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $35.15B $40.69B $49.48B
YoY Change -13.61% -12.41% 7.53%
LONG-TERM ASSETS
Property, Plant & Equipment $4.892B $4.943B $4.989B
YoY Change -1.03% -0.34% 0.56%
Goodwill $14.69B $14.77B $14.76B
YoY Change -0.53% 0.09% 0.0%
Intangibles $7.124B $8.779B $8.609B
YoY Change -18.85% -11.52% -16.25%
Long-Term Investments
YoY Change
Other Assets $2.138B $1.982B $2.119B
YoY Change 7.87% 12.17% 30.4%
Total Long-Term Assets $28.85B $30.48B $30.48B
YoY Change -5.35% -2.96% -3.6%
TOTAL ASSETS
Total Short-Term Assets $35.15B $40.69B $49.48B
Total Long-Term Assets $28.85B $30.48B $30.48B
Total Assets $64.00B $71.16B $79.95B
YoY Change -10.07% -8.6% 3.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.091B $1.089B $1.352B
YoY Change 0.18% 20.73% 47.44%
Accrued Expenses $7.910B $7.207B $6.516B
YoY Change 9.75% 23.79% 10.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.705B $2.183B $1.152B
YoY Change 69.72% -42.54% -73.84%
Total Short-Term Liabilities $12.71B $10.48B $9.020B
YoY Change 21.25% -0.42% -19.49%
LONG-TERM LIABILITIES
Long-Term Debt $29.32B $33.36B $34.19B
YoY Change -12.11% 10.12% 13.24%
Other Long-Term Liabilities $1.460B $1.326B $1.238B
YoY Change 10.11% -11.42% -17.41%
Total Long-Term Liabilities $30.78B $34.68B $35.43B
YoY Change -11.26% 9.1% 11.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.71B $10.48B $9.020B
Total Long-Term Liabilities $30.78B $34.68B $35.43B
Total Liabilities $43.49B $45.16B $44.45B
YoY Change -3.72% 6.74% 3.62%
SHAREHOLDERS EQUITY
Retained Earnings -$19.90B -$14.39B -$5.072B
YoY Change 38.28% -6274.68% 1057.99%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.83B $15.62B $25.24B
YoY Change
Total Liabilities & Shareholders Equity $64.00B $71.16B $79.95B
YoY Change -10.07% -8.6% 3.0%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2017 Q4
OPERATING ACTIVITIES
Net Income $1.992B $2.311B -$4.264B
YoY Change -13.8% 11.59% -320.36%
Depreciation, Depletion And Amortization $495.0M $471.0M $449.0M
YoY Change 5.1% -10.11% -19.68%
Cash From Operating Activities $1.845B $2.727B $3.012B
YoY Change -32.34% 14.34% -2.84%
INVESTING ACTIVITIES
Capital Expenditures $116.0M $155.0M -$153.0M
YoY Change -25.16% -7.74% -53.07%
Acquisitions $0.00 -$197.0M
YoY Change -100.0%
Other Investing Activities $6.000M -$2.000M $75.00M
YoY Change -400.0% -103.85% -108.37%
Cash From Investing Activities $3.555B $14.91B -$78.00M
YoY Change -76.15% -9594.27% -93.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.032B $10.70B
YoY Change -71.66% 1725.43%
Debt Paid & Issued, Net $1.000B $0.00
YoY Change -100.0%
Cash From Financing Activities -$4.987B -$11.69B -2.134B
YoY Change -57.35% 453.86% 0.57%
NET CHANGE
Cash From Operating Activities $1.845B $2.727B 3.012B
Cash From Investing Activities $3.555B $14.91B -78.00M
Cash From Financing Activities -$4.987B -$11.69B -2.134B
Net Change In Cash $413.0M $5.941B 800.0M
YoY Change -93.05% 4977.78% -427.87%
FREE CASH FLOW
Cash From Operating Activities $1.845B $2.727B $3.012B
Capital Expenditures $116.0M $155.0M -$153.0M
Free Cash Flow $1.729B $2.572B $3.165B
YoY Change -32.78% 16.01% -7.62%

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29000000 USD
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253000000 USD
CY2018Q1 us-gaap Other General Expense
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1460000000 USD
CY2018Q1 us-gaap Other Noncash Income Expense
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CY2018Q1 us-gaap Stock Repurchased During Period Shares
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CY2018Q4 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Sublease Income
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CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000 shares
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CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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622000000 shares
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;text-align:justify;text-indent:0px;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 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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