2016 Q4 Form 10-Q Financial Statement

#000105350716000057 Filed on October 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $1.540B $1.515B $1.238B
YoY Change 20.27% 22.37% 19.24%
Cost Of Revenue $488.0M $5.712M $9.307M
YoY Change 36.92% -38.63% -21.44%
Gross Profit $1.052B $1.509B $1.229B
YoY Change 13.85% 22.83% 19.71%
Gross Profit Margin 68.31% 99.62% 99.25%
Selling, General & Admin $138.3M $131.5M $114.8M
YoY Change -3.56% 14.55% 5.44%
% of Gross Profit 13.15% 8.72% 9.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $388.2M $398.0M $341.1M
YoY Change 10.19% 16.68% 36.93%
% of Gross Profit 36.92% 26.37% 27.76%
Operating Expenses $562.2M $131.5M $114.8M
YoY Change 7.8% 14.55% 5.44%
Operating Profit $489.3M $479.1M $400.9M
YoY Change 21.68% 19.5% 4.19%
Interest Expense -$201.0M $190.2M $149.8M
YoY Change -37.48% 26.95% 4.59%
% of Operating Profit -41.08% 39.69% 37.36%
Other Income/Expense, Net $5.100M -$193.3M -$209.0M
YoY Change -96.96% -7.49% 24.56%
Pretax Income $293.7M $285.8M $192.0M
YoY Change 18.67% 48.86% -11.56%
Income Tax $60.80M $22.04M $94.24M
% Of Pretax Income 20.7% 7.71% 49.09%
Net Earnings $229.2M $264.5M $103.0M
YoY Change -1.5% 156.8% -50.38%
Net Earnings / Revenue 14.89% 17.46% 8.32%
Basic Earnings Per Share $0.48 $0.56 $0.18
Diluted Earnings Per Share $0.47 $0.55 $0.18
COMMON SHARES
Basic Shares Outstanding 425.7M shares 425.5M shares 423.4M shares
Diluted Shares Outstanding 429.9M shares 427.2M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $791.0M $530.0M $302.0M
YoY Change 146.42% 75.5% -7.08%
Cash & Equivalents $787.2M $530.4M $287.4M
Short-Term Investments $4.000M $14.00M
Other Short-Term Assets $501.0M $482.0M $380.0M
YoY Change 30.47% 26.84% -10.8%
Inventory
Prepaid Expenses $36.30M $54.58M $41.29M
Receivables $308.4M $273.9M $206.2M
Other Receivables $90.00M $84.00M $53.00M
Total Short-Term Assets $1.690B $1.371B $940.4M
YoY Change 69.59% 45.77% -5.68%
LONG-TERM ASSETS
Property, Plant & Equipment $10.52B $10.45B $9.806B
YoY Change 6.6% 6.59% 29.85%
Goodwill $5.071B $4.997B $4.055B
YoY Change 23.92% 23.23% 4.88%
Intangibles $11.27B $11.56B $10.01B
YoY Change 14.6% 15.44% 56.71%
Long-Term Investments
YoY Change
Other Assets $841.5M $813.9M $788.8M
YoY Change 14.82% 3.19% 49.15%
Total Long-Term Assets $29.19B $29.28B $25.99B
YoY Change 12.67% 12.69% 32.59%
TOTAL ASSETS
Total Short-Term Assets $1.690B $1.371B $940.4M
Total Long-Term Assets $29.19B $29.28B $25.99B
Total Assets $30.88B $30.66B $26.93B
YoY Change 14.77% 13.85% 30.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $118.7M $105.6M $99.59M
YoY Change 22.73% 5.99% -10.28%
Accrued Expenses $620.5M $572.0M $743.3M
YoY Change 20.16% -23.04% 70.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $238.8M $243.0M $45.85M
YoY Change 375.68% 429.95% -95.23%
Total Short-Term Liabilities $1.631B $1.520B $1.370B
YoY Change 35.94% 10.96% -29.33%
LONG-TERM LIABILITIES
Long-Term Debt $18.29B $18.44B $16.98B
YoY Change 7.18% 8.56% 30.89%
Other Long-Term Liabilities $1.143B $1.068B $1.080B
YoY Change 19.1% -1.09% 15.72%
Total Long-Term Liabilities $19.44B $19.50B $1.080B
YoY Change 7.82% 1706.11% 15.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.631B $1.520B $1.370B
Total Long-Term Liabilities $19.44B $19.50B $1.080B
Total Liabilities $22.81B $22.78B $20.24B
YoY Change 12.98% 12.54% 23.35%
SHAREHOLDERS EQUITY
Retained Earnings -$1.077B -$1.031B -$995.9M
YoY Change 7.86% 3.49% 16.54%
Common Stock $4.300M $4.284M $4.263M
YoY Change 0.77% 0.49% 6.79%
Preferred Stock
YoY Change
Treasury Stock (at cost) $207.7M $207.7M $207.7M
YoY Change -0.02% 0.0% 0.0%
Treasury Stock Shares 2.810M shares 2.810M shares 2.810M shares
Shareholders Equity $6.764B $6.707B $6.618B
YoY Change
Total Liabilities & Shareholders Equity $30.88B $30.66B $26.93B
YoY Change 14.77% 13.85% 30.73%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $229.2M $264.5M $103.0M
YoY Change -1.5% 156.8% -50.38%
Depreciation, Depletion And Amortization $388.2M $398.0M $341.1M
YoY Change 10.19% 16.68% 36.93%
Cash From Operating Activities $723.3M $667.1M $507.1M
YoY Change 13.1% 31.55% 1.99%
INVESTING ACTIVITIES
Capital Expenditures -$207.3M -$155.8M -$206.9M
YoY Change -1.66% -24.7% -19.56%
Acquisitions
YoY Change
Other Investing Activities -$108.8M -$87.00M -$918.0M
YoY Change -66.7% -90.52% 9563.16%
Cash From Investing Activities -$316.1M -$242.8M -$1.125B
YoY Change -41.18% -78.42% 321.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -126.0M -303.6M 642.2M
YoY Change 190.99% -147.27% -402.07%
NET CHANGE
Cash From Operating Activities 723.3M 667.1M 507.1M
Cash From Investing Activities -316.1M -242.8M -1.125B
Cash From Financing Activities -126.0M -303.6M 642.2M
Net Change In Cash 281.2M 120.7M 24.40M
YoY Change 378.23% 394.67% 35.56%
FREE CASH FLOW
Cash From Operating Activities $723.3M $667.1M $507.1M
Capital Expenditures -$207.3M -$155.8M -$206.9M
Free Cash Flow $930.6M $822.9M $714.0M
YoY Change 9.44% 15.25% -5.36%

Facts In Submission

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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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875000000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1492298000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
3236383000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
500000000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
29324000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
76600000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
76601000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
5727831000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1529477000 USD
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
0 USD
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
70806000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-30314000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-29423000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
4449000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-700000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
8282000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-7337000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
97740000 USD
us-gaap Profit Loss
ProfitLoss
450412000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
263735000 USD
us-gaap Profit Loss
ProfitLoss
737506000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9866424000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10452038000 USD
CY2015Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
0 USD
CY2016Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1100202000 USD
CY2016Q2 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
RedeemableNoncontrollingInterestEquityFairValue
1100000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
6092710000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
4116645000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
142193000 USD
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
150655000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-998535000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1030663000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1237910000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
3491475000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1514845000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
4246119000 USD
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
25061000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
62211000 USD
CY2016Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
16909000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
54340000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
114832000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
354460000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
131537000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
405086000 USD
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
18345000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
72251000 USD
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
20226000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
70212000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Purchase Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPricePurchaseDate
0.15
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3465000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3847000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
79887000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
123376000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
6651679000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
6707396000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4053352000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6684202000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6712818000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6774281000 USD
us-gaap Straight Line Rent
StraightLineRent
69019000 USD
us-gaap Straight Line Rent
StraightLineRent
51762000 USD
CY2015Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
0 USD
us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
-2138000 USD
CY2016Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
216
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2810026 shares
CY2016Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
2810026 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
207740000 USD
CY2016Q3 us-gaap Treasury Stock Value
TreasuryStockValue
207740000 USD
CY2015Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
34173000 USD
CY2016Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
59928000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
20200000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
24500000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
700000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
2300000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1800000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
7000000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
23800000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8400000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
47700000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1800000 USD
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1800000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
28100000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
74700000 USD
CY2015Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
30239000 USD
CY2016Q3 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
24519000 USD
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3852000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4072000 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4408000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4188000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
427227000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
421352000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
429925000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
429019000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
423375000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
417280000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
425517000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
424831000 shares

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