2017 Q2 Form 10-Q Financial Statement

#000104712717000037 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $1.008B $917.3M
YoY Change 9.93% 24.51%
Cost Of Revenue $831.8M $785.7M
YoY Change 5.86% 26.4%
Gross Profit $176.6M $131.6M
YoY Change 34.2% 14.34%
Gross Profit Margin 17.51% 14.35%
Selling, General & Admin $67.79M $70.90M
YoY Change -4.39% 25.62%
% of Gross Profit 38.38% 53.87%
Research & Development $44.28M $30.17M
YoY Change 46.78% 50.69%
% of Gross Profit 25.07% 22.92%
Depreciation & Amortization $144.8M $137.5M
YoY Change 5.38% 11.09%
% of Gross Profit 82.01% 104.44%
Operating Expenses $3.957M $101.1M
YoY Change -96.08% 32.19%
Operating Profit $172.7M $30.54M
YoY Change 465.32% -20.96%
Interest Expense $22.16M $20.82M
YoY Change 6.45% -8.88%
% of Operating Profit 12.83% 68.16%
Other Income/Expense, Net -$19.16M -$21.82M
YoY Change -12.16% -30.47%
Pretax Income $153.5M $8.726M
YoY Change 1659.06% 20.09%
Income Tax $33.47M $3.360M
% Of Pretax Income 21.8% 38.51%
Net Earnings $119.0M $4.713M
YoY Change 2425.21% -35.68%
Net Earnings / Revenue 11.8% 0.51%
Basic Earnings Per Share $0.50 $0.02
Diluted Earnings Per Share $0.50 $0.02
COMMON SHARES
Basic Shares Outstanding 238.9M shares 237.1M shares
Diluted Shares Outstanding 239.7M shares 237.4M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $657.6M $499.3M
YoY Change 31.7% 12.89%
Cash & Equivalents $657.6M $499.3M
Short-Term Investments
Other Short-Term Assets $36.89M $29.79M
YoY Change 23.85% -39.1%
Inventory $295.8M $251.6M
Prepaid Expenses
Receivables $604.4M $579.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.597B $1.363B
YoY Change 17.18% 18.24%
LONG-TERM ASSETS
Property, Plant & Equipment $2.646B $2.625B
YoY Change 0.79% 17.77%
Goodwill $25.16M $27.42M
YoY Change -8.23%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $112.3M $103.5M
YoY Change 8.55% -13.87%
Total Long-Term Assets $2.787B $2.758B
YoY Change 1.06% 10.69%
TOTAL ASSETS
Total Short-Term Assets $1.597B $1.363B
Total Long-Term Assets $2.787B $2.758B
Total Assets $4.384B $4.121B
YoY Change 6.39% 13.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $477.2M $465.1M
YoY Change 2.6% 65.71%
Accrued Expenses $348.9M $300.8M
YoY Change 16.0% 32.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $330.6M $96.20M
YoY Change 243.66%
Total Short-Term Liabilities $1.388B $1.037B
YoY Change 33.88% 44.53%
LONG-TERM LIABILITIES
Long-Term Debt $1.220B $1.466B
YoY Change -16.74% 3.53%
Other Long-Term Liabilities $60.84M $92.89M
YoY Change -34.5% -14.83%
Total Long-Term Liabilities $1.281B $1.558B
YoY Change -17.8% 2.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.388B $1.037B
Total Long-Term Liabilities $1.281B $1.558B
Total Liabilities $2.857B $2.851B
YoY Change 0.22% 15.18%
SHAREHOLDERS EQUITY
Retained Earnings -$198.1M -$463.9M
YoY Change -57.31% -3.07%
Common Stock $285.0K $283.0K
YoY Change 0.71% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $215.9M $214.0M
YoY Change 0.87% 0.25%
Treasury Stock Shares 45.93M shares 45.76M shares
Shareholders Equity $1.506B $1.252B
YoY Change
Total Liabilities & Shareholders Equity $4.384B $4.121B
YoY Change 6.39% 13.08%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $119.0M $4.713M
YoY Change 2425.21% -35.68%
Depreciation, Depletion And Amortization $144.8M $137.5M
YoY Change 5.38% 11.09%
Cash From Operating Activities $97.30M $135.1M
YoY Change -27.98% 113.43%
INVESTING ACTIVITIES
Capital Expenditures -$183.4M -$157.2M
YoY Change 16.67% 78.03%
Acquisitions
YoY Change
Other Investing Activities $85.80M $100.0K
YoY Change 85700.0% -98.78%
Cash From Investing Activities -$97.70M -$157.1M
YoY Change -37.81% 96.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 44.90M 97.40M
YoY Change -53.9% -377.49%
NET CHANGE
Cash From Operating Activities 97.30M 135.1M
Cash From Investing Activities -97.70M -157.1M
Cash From Financing Activities 44.90M 97.40M
Net Change In Cash 44.50M 75.40M
YoY Change -40.98% -245.28%
FREE CASH FLOW
Cash From Operating Activities $97.30M $135.1M
Capital Expenditures -$183.4M -$157.2M
Free Cash Flow $280.7M $292.3M
YoY Change -3.97% 92.81%

Facts In Submission

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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
101064000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
26955000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
46278000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4713000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3838000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
115507000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
105501000 USD
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-21816000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-42442000 USD
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-19261000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-52621000 USD
us-gaap Operating Expenses
OperatingExpenses
201854000 USD
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
3942000 USD
us-gaap Operating Expenses
OperatingExpenses
122193000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
30542000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
52636000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
168293000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
192948000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
55016000 USD
CY2017Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
50757000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
27081000 USD
CY2017Q2 us-gaap Other Assets Current
OtherAssetsCurrent
36889000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
89643000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
112303000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-833000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
12753000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
26978000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
46325000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-815000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13001000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-23000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-47000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-18000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-248000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
76682000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
60842000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
6177000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
3787000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
242000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2950000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3190000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7674000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
830000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2117000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
270000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
270000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
43771000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
355974000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
271651000 USD
CY2016Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
166701000 USD
CY2017Q2 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
170554000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
34000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
215086000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
115000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
75000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-604000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
561000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
593000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
130962000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
24630000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
41228000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
5366000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
116459000 USD
us-gaap Profit Loss
ProfitLoss
107315000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6427413000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6657554000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2564648000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2645810000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
100000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
887000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2665000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
8582000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
207653000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
23035000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
32110000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
30168000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
57323000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
44268000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
85824000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2000000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2000000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3977000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2365000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1383588000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
1505594000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1217536000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1270000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1403404000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
4225000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-303557000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-198056000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
917326000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1786008000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
989447000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1903047000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
70896000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
144531000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
67783000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
144478000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
60000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1526954000 USD
CY2016Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
14053000 USD
CY2017Q2 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
15571000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
45814000 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
45933000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
214490000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
215868000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
23100000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
24800000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
237434000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
237297000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
239679000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
239601000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
237090000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
237058000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
238863000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
238774000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates. </font><font style="font-family:inherit;font-size:10pt;">The Consolidated Financial Statements have been prepared in conformity with U.S.&#160;GAAP, using management&#8217;s best estimates and judgments where appropriate. These estimates and judgments affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ materially from these estimates and judgments.</font></div></div>

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