2017 Q2 Form 10-Q Financial Statement

#000105350717000045 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $1.663B $1.442B
YoY Change 15.28% 22.81%
Cost Of Revenue $10.00M $7.140M
YoY Change 40.06% -12.64%
Gross Profit $1.653B $1.435B
YoY Change 15.15% 23.05%
Gross Profit Margin 99.4% 99.5%
Selling, General & Admin $153.1M $138.2M
YoY Change 10.75% 18.82%
% of Gross Profit 9.26% 9.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $396.4M $397.8M
YoY Change -0.35% 21.13%
% of Gross Profit 23.99% 27.72%
Operating Expenses $153.1M $138.2M
YoY Change 10.75% 18.82%
Operating Profit $576.9M $432.8M
YoY Change 33.29% 11.04%
Interest Expense $187.0M $181.0M
YoY Change 3.31% 21.9%
% of Operating Profit 32.42% 41.83%
Other Income/Expense, Net -$164.5M -$196.8M
YoY Change -16.43% -9.97%
Pretax Income $412.4M $236.0M
YoY Change 74.77% 37.89%
Income Tax $23.90M $43.51M
% Of Pretax Income 5.8% 18.44%
Net Earnings $367.0M $187.6M
YoY Change 95.63% 20.21%
Net Earnings / Revenue 22.08% 13.01%
Basic Earnings Per Share $0.81 $0.38
Diluted Earnings Per Share $0.80 $0.37
COMMON SHARES
Basic Shares Outstanding 427.3M shares 424.9M shares
Diluted Shares Outstanding 430.5M shares 429.0M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $771.0M $411.0M
YoY Change 87.59% 30.48%
Cash & Equivalents $770.0M $410.5M
Short-Term Investments $1.000M
Other Short-Term Assets $554.0M $534.0M
YoY Change 3.75% 48.33%
Inventory
Prepaid Expenses $51.19M $59.06M
Receivables $322.1M $285.4M
Other Receivables $155.0M $92.00M
Total Short-Term Assets $1.803B $1.321B
YoY Change 36.51% 40.4%
LONG-TERM ASSETS
Property, Plant & Equipment $10.73B $10.58B
YoY Change 1.42% 10.32%
Goodwill $5.371B $4.982B
YoY Change 7.81% 23.42%
Intangibles $11.73B $11.59B
YoY Change 1.19% 17.63%
Long-Term Investments
YoY Change
Other Assets $888.9M $809.3M
YoY Change 9.83% 9.83%
Total Long-Term Assets $30.34B $29.42B
YoY Change 3.11% 15.24%
TOTAL ASSETS
Total Short-Term Assets $1.803B $1.321B
Total Long-Term Assets $30.34B $29.42B
Total Assets $32.14B $30.74B
YoY Change 4.55% 16.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $102.7M $120.6M
YoY Change -14.81% 45.55%
Accrued Expenses $728.0M $617.7M
YoY Change 17.85% 49.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.732B $314.1M
YoY Change 451.49% 709.15%
Total Short-Term Liabilities $3.279B $1.656B
YoY Change 98.05% 59.71%
LONG-TERM LIABILITIES
Long-Term Debt $17.51B $18.40B
YoY Change -4.85% 13.7%
Other Long-Term Liabilities $1.172B $1.058B
YoY Change 10.69% 0.83%
Total Long-Term Liabilities $18.68B $19.46B
YoY Change -4.01% 1753.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.279B $1.656B
Total Long-Term Liabilities $18.68B $19.46B
Total Liabilities $23.94B $22.81B
YoY Change 4.92% 19.47%
SHAREHOLDERS EQUITY
Retained Earnings -$989.2M -$1.033B
YoY Change -4.27% 17.88%
Common Stock $4.372M $4.280M
YoY Change 2.15% 0.47%
Preferred Stock
YoY Change
Treasury Stock (at cost) $849.1M $207.7M
YoY Change 308.71% 0.0%
Treasury Stock Shares 8.010M shares 2.810M shares
Shareholders Equity $6.483B $6.774B
YoY Change
Total Liabilities & Shareholders Equity $32.14B $30.74B
YoY Change 4.55% 16.13%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $367.0M $187.6M
YoY Change 95.63% 20.21%
Depreciation, Depletion And Amortization $396.4M $397.8M
YoY Change -0.35% 21.13%
Cash From Operating Activities $794.6M $747.8M
YoY Change 6.26% 42.01%
INVESTING ACTIVITIES
Capital Expenditures -$203.4M -$165.2M
YoY Change 23.12% 8.76%
Acquisitions
YoY Change
Other Investing Activities -$90.80M -$1.193B
YoY Change -92.39% 75.89%
Cash From Investing Activities -$294.2M -$1.358B
YoY Change -78.33% 63.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -448.5M 696.4M
YoY Change -164.4% 202.65%
NET CHANGE
Cash From Operating Activities 794.6M 747.8M
Cash From Investing Activities -294.2M -1.358B
Cash From Financing Activities -448.5M 696.4M
Net Change In Cash 51.90M 86.30M
YoY Change -39.86% -217.74%
FREE CASH FLOW
Cash From Operating Activities $794.6M $747.8M
Capital Expenditures -$203.4M -$165.2M
Free Cash Flow $998.0M $913.0M
YoY Change 9.31% 34.56%

Facts In Submission

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us-gaap Proceeds From Payments To Minority Shareholders
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-503000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
265255000 USD
us-gaap Proceeds From Previous Acquisition
ProceedsFromPreviousAcquisition
21500000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-2843000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
192464000 USD
us-gaap Profit Loss
ProfitLoss
473771000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
388490000 USD
us-gaap Profit Loss
ProfitLoss
695900000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10517258000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10725707000 USD
CY2016Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1091220000 USD
CY2017Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1155867000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
2858415000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
3126661000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
149281000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
143277000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1076965000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-989153000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1442227000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2731274000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1662434000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
3278672000 USD
CY2016Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
16035000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
37431000 USD
CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
24259000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
46433000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
138234000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
273549000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
153148000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
317944000 USD
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
21907000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
49986000 USD
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
25738000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
61960000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Purchase Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPricePurchaseDate
0.15
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
4026000 USD
CY2017Q2 us-gaap Short Term Investments
ShortTermInvestments
1012000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
-6000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3847000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
4555000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
86780000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
117248000 USD
CY2011Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1500000000.0 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
11456842 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
5199938 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
641300000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
6763895000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
6482709000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6712818000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6840225000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6976200000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7045115000 USD
us-gaap Straight Line Rent
StraightLineRent
34931000 USD
us-gaap Straight Line Rent
StraightLineRent
71470000 USD
us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
55778000 USD
CY2017Q2 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
216
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2810026 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
8009964 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
207740000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
849064000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
641324000 USD
CY2016Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
57661000 USD
CY2017Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
131831000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
900000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
24300000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
28100000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
2200000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
5200000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1000000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
2300000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1900000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3800000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation
2700000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
106200000 USD
CY2016Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
31570000 USD
CY2017Q2 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
23500000 USD
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4095000 shares
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
102900000 USD
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3189000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3156000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
429004000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
428529000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
430487000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
430444000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
424909000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
424484000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
427298000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
427288000 shares

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