2017 Q1 Form 10-Q Financial Statement

#000101872417000051 Filed on April 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2017 2016 Q4
Revenue $35.71B $177.9B $43.74B
YoY Change 22.61% 30.8% 22.36%
Cost Of Revenue $22.44B $111.9B $28.96B
YoY Change 18.94% 26.82% 18.97%
Gross Profit $13.27B $65.93B $14.78B
YoY Change 29.35% 38.16% 29.6%
Gross Profit Margin 37.17% 37.07% 33.79%
Selling, General & Admin $2.715B $13.74B $8.949B
YoY Change 40.46% 42.19% 33.71%
% of Gross Profit 20.45% 20.84% 60.54%
Research & Development $4.813B $22.62B $4.544B
YoY Change 36.5% 40.63% 27.32%
% of Gross Profit 36.26% 34.31% 30.74%
Depreciation & Amortization $2.435B $11.48B $2.297B
YoY Change 33.28% 41.42% 31.11%
% of Gross Profit 18.34% 17.41% 15.54%
Operating Expenses $7.528B $36.36B $13.53B
YoY Change 37.9% 41.22% 31.37%
Operating Profit $1.005B $4.106B $1.255B
YoY Change -6.16% -1.91% 13.27%
Interest Expense $139.0M $848.0M -$104.0M
YoY Change 18.8% 75.21% 1.96%
% of Operating Profit 13.83% 20.65% -8.29%
Other Income/Expense, Net -$52.00M -$300.0M $15.00M
YoY Change 246.67% 2.04% -121.74%
Pretax Income $953.0M $5.630B $1.166B
YoY Change -9.75% 23.71% 24.31%
Income Tax $229.0M $769.0M $414.0M
% Of Pretax Income 24.03% 13.66% 35.51%
Net Earnings $724.0M $3.033B $749.0M
YoY Change 41.13% 27.92% 55.39%
Net Earnings / Revenue 2.03% 1.71% 1.71%
Basic Earnings Per Share $1.52 $6.32 $1.57
Diluted Earnings Per Share $1.48 $6.15 $1.54
COMMON SHARES
Basic Shares Outstanding 477.0M shares 480.0M shares 476.0M shares
Diluted Shares Outstanding 490.0M shares 493.0M shares 486.0M shares

Balance Sheet

Concept 2017 Q1 2017 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.53B $30.99B $25.98B
YoY Change 35.77% 19.26% 31.16%
Cash & Equivalents $15.44B $20.52B $19.33B
Short-Term Investments $6.091B $10.46B $6.647B
Other Short-Term Assets
YoY Change
Inventory $10.60B $16.05B $11.46B
Prepaid Expenses
Receivables $7.329B $8.339B
Other Receivables
Total Short-Term Assets $39.46B $60.20B $45.78B
YoY Change 29.32% 31.49% 28.22%
LONG-TERM ASSETS
Property, Plant & Equipment $32.63B $48.87B $29.11B
YoY Change 40.0% 67.84% 33.32%
Goodwill $3.823B $3.784B
YoY Change 1.0% 0.67%
Intangibles $854.0M
YoY Change
Long-Term Investments $263.0M $415.0M $242.0M
YoY Change -10.85% 71.49%
Other Assets $5.054B $5.111B $4.723B
YoY Change 43.5% 40.92% 37.1%
Total Long-Term Assets $41.51B $71.11B $37.62B
YoY Change 35.58% 89.02% 29.54%
TOTAL ASSETS
Total Short-Term Assets $39.46B $60.20B $45.78B
Total Long-Term Assets $41.51B $71.11B $37.62B
Total Assets $80.97B $131.3B $83.40B
YoY Change 32.46% 57.44% 28.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.89B $34.62B $25.31B
YoY Change 26.02% 36.77% 24.08%
Accrued Expenses $13.05B $11.95B $13.74B
YoY Change 38.42% 39.89% 32.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.049B $6.221B $1.056B
YoY Change 1065.56% 19.7% 343.7%
Total Short-Term Liabilities $37.40B $57.88B $43.82B
YoY Change 32.68% 32.1% 29.3%
LONG-TERM LIABILITIES
Long-Term Debt $7.691B $37.93B $7.694B
YoY Change -6.42% 149.3% -6.48%
Other Long-Term Liabilities $14.21B $6.802B $12.61B
YoY Change 42.53% 44.85% 36.31%
Total Long-Term Liabilities $21.90B $44.73B $20.30B
YoY Change 20.41% 124.66% 16.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.40B $57.88B $43.82B
Total Long-Term Liabilities $21.90B $44.73B $20.30B
Total Liabilities $59.30B $103.6B $64.12B
YoY Change 27.87% 61.58% 24.83%
SHAREHOLDERS EQUITY
Retained Earnings $6.327B $4.916B
YoY Change 106.9% 93.16%
Common Stock $5.000M $5.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.837B $1.837B
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $21.67B $27.71B $19.29B
YoY Change
Total Liabilities & Shareholders Equity $80.97B $131.3B $83.40B
YoY Change 32.46% 57.44% 28.81%

Cashflow Statement

Concept 2017 Q1 2017 2016 Q4
OPERATING ACTIVITIES
Net Income $724.0M $3.033B $749.0M
YoY Change 41.13% 27.92% 55.39%
Depreciation, Depletion And Amortization $2.435B $11.48B $2.297B
YoY Change 33.28% 41.42% 31.11%
Cash From Operating Activities -$1.619B $18.37B $11.41B
YoY Change -17.1% 6.75% 27.78%
INVESTING ACTIVITIES
Capital Expenditures $1.861B $7.417B -$3.073B
YoY Change 57.85% 51.46% 45.85%
Acquisitions $45.00M $13.97B
YoY Change 11944.83%
Other Investing Activities $798.0M -$15.13B -$741.0M
YoY Change 64.2% 783.7% -388.33%
Cash From Investing Activities -$1.350B -$27.08B -$3.814B
YoY Change 94.81% 184.62% 106.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$888.0M $9.928B -1.061B
YoY Change -10.84% -367.17% -41.35%
NET CHANGE
Cash From Operating Activities -$1.619B $18.37B 11.41B
Cash From Investing Activities -$1.350B -$27.08B -3.814B
Cash From Financing Activities -$888.0M $9.928B -1.061B
Net Change In Cash -$3.633B $1.922B 6.537B
YoY Change -0.25% -48.87% 23.99%
FREE CASH FLOW
Cash From Operating Activities -$1.619B $18.37B $11.41B
Capital Expenditures $1.861B $7.417B -$3.073B
Free Cash Flow -$3.480B $10.95B $14.49B
YoY Change 11.11% -11.04% 31.23%

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CY2017Q1 us-gaap Other Commitment Due In Fourth Year
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CY2016Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2016Q4 us-gaap Other Long Term Debt
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CY2017Q1 us-gaap Other Long Term Debt
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CY2016 us-gaap Other Noncash Income Expense
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CY2017 us-gaap Other Noncash Income Expense
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CY2017Q1 us-gaap Other Noncash Income Expense
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CY2016Q1 us-gaap Other Noncash Income Expense
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CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2017Q1 us-gaap Other Nonoperating Income Expense
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CY2016 us-gaap Other Operating Income Expense Net
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CY2017 us-gaap Other Operating Income Expense Net
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CY2016Q1 us-gaap Other Operating Income Expense Net
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CY2017Q1 us-gaap Other Operating Income Expense Net
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CY2017Q1 us-gaap Other Tax Expense Benefit
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CY2016 us-gaap Payments To Acquire Businesses And Interest In Affiliates
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CY2017 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
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CY2016Q1 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
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CY2017Q1 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
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CY2016 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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CY2017 us-gaap Payments To Acquire Marketable Securities
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CY2016Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
636000000 USD
CY2017Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
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0 USD
CY2017Q1 us-gaap Preferred Stock Value
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CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
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179000000 USD
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2016Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2016Q1 us-gaap Recognition Of Deferred Revenue
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CY2016Q1 us-gaap Repayments Of Debt
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CY2017Q1 us-gaap Recognition Of Deferred Revenue
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CY2016 us-gaap Repayments Of Debt
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CY2017 us-gaap Repayments Of Debt
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CY2017Q1 us-gaap Repayments Of Debt
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CY2017 us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2016Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q1 us-gaap Sales Revenue Goods Net
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CY2017Q1 us-gaap Sales Revenue Goods Net
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CY2016Q1 us-gaap Sales Revenue Net
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CY2017Q1 us-gaap Sales Revenue Net
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CY2016Q1 us-gaap Sales Revenue Services Net
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CY2017Q1 us-gaap Sales Revenue Services Net
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CY2016 us-gaap Share Based Compensation
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CY2016Q1 us-gaap Share Based Compensation
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544000000 USD
CY2017Q1 us-gaap Share Based Compensation
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792000000 USD
CY2010Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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2000000000 shares
CY2016Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000000 shares
CY2016Q4 us-gaap Stockholders Equity
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CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2016Q4 us-gaap Treasury Stock Value
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CY2017Q1 us-gaap Treasury Stock Value
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CY2016Q4 us-gaap Unrecognized Tax Benefits
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CY2017Q1 us-gaap Unrecognized Tax Benefits
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CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
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662000000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
51000000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
362000000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
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CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
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CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
UnrecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
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CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
490000000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
471000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
477000000 shares
CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, determining the selling price of products and services in multiple element revenue arrangements and determining the amortization period of these elements, incentive discount offers, sales returns, vendor funding, stock-based compensation forfeiture rates, income taxes, valuation and impairment of investments, inventory valuation and inventory purchase commitments, collectability of receivables, valuation of acquired intangibles and goodwill, depreciable lives of property and equipment, internal-use software and website development costs, acquisition purchase price allocations, investments in equity interests, and contingencies. Actual results could differ materially from those estimates.</font></div></div>

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