2018 Q1 Form 10-Q Financial Statement

#000103982818000027 Filed on May 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $118.9M $927.3M
YoY Change -87.18% 122.05%
Cost Of Revenue $12.09M $11.88M
YoY Change 1.84% 30.37%
Gross Profit $106.8M $915.4M
YoY Change -88.34% 124.1%
Gross Profit Margin 89.83% 98.72%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $140.6M $89.68M
YoY Change 56.83% 80.39%
% of Gross Profit 131.71% 9.8%
Operating Expenses $798.5M $610.6M
YoY Change 30.77% 189.66%
Operating Profit -$691.7M $304.8M
YoY Change -326.92% 54.19%
Interest Expense $857.2M -$235.2M
YoY Change -464.46% -14.75%
% of Operating Profit -77.16%
Other Income/Expense, Net
YoY Change
Pretax Income $177.6M $81.48M
YoY Change 117.99% -217.91%
Income Tax $36.65M $27.54M
% Of Pretax Income 20.63% 33.8%
Net Earnings $141.0M $53.94M
YoY Change 161.34% -220.29%
Net Earnings / Revenue 118.58% 5.82%
Basic Earnings Per Share $1.57 $0.61
Diluted Earnings Per Share $1.55 $0.60
COMMON SHARES
Basic Shares Outstanding 90.02M shares 88.65M shares
Diluted Shares Outstanding 91.14M shares 89.98M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $723.8M $1.173B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $48.81B $45.00B
YoY Change 8.47% 9.07%
Other Assets $160.0M $127.0M
YoY Change 25.98% 25.74%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $61.30B $57.55B
YoY Change 6.52% 12.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $72.00M $20.00M
YoY Change 260.0%
LONG-TERM LIABILITIES
Long-Term Debt $737.0M $736.0M
YoY Change 0.14% 15.91%
Other Long-Term Liabilities $1.456B $1.362B
YoY Change 6.9% 118.62%
Total Long-Term Liabilities $2.193B $2.098B
YoY Change 4.53% 66.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $72.00M $20.00M
Total Long-Term Liabilities $2.193B $2.098B
Total Liabilities $58.75B $55.11B
YoY Change 6.61% 12.41%
SHAREHOLDERS EQUITY
Retained Earnings $1.258B $1.147B
YoY Change 9.67% 16.31%
Common Stock $89.98M $88.63M
YoY Change 1.53% 7.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 1.814M shares 2.647M shares
Shareholders Equity $2.547B $2.436B
YoY Change
Total Liabilities & Shareholders Equity $61.30B $57.55B
YoY Change 6.52% 12.26%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $141.0M $53.94M
YoY Change 161.34% -220.29%
Depreciation, Depletion And Amortization $140.6M $89.68M
YoY Change 56.83% 80.39%
Cash From Operating Activities -$443.2M $498.0M
YoY Change -188.98% 251.7%
INVESTING ACTIVITIES
Capital Expenditures $1.099M $1.402M
YoY Change -21.61% 474.59%
Acquisitions
YoY Change
Other Investing Activities -$660.2M -$518.6M
YoY Change 27.3% -45.74%
Cash From Investing Activities -$661.3M -$520.0M
YoY Change 27.17% -45.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.516M $3.717M
YoY Change 21.5% -0.61%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $394.2M $403.5M
YoY Change -2.29% -64.1%
NET CHANGE
Cash From Operating Activities -$443.2M $498.0M
Cash From Investing Activities -$661.3M -$520.0M
Cash From Financing Activities $394.2M $403.5M
Net Change In Cash -$710.3M $381.5M
YoY Change -286.18% 23.29%
FREE CASH FLOW
Cash From Operating Activities -$443.2M $498.0M
Capital Expenditures $1.099M $1.402M
Free Cash Flow -$444.3M $496.6M
YoY Change -189.45% 251.32%

Facts In Submission

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1
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200000000 shares
CY2018Q1 us-gaap Common Stock Shares Authorized
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200000000 shares
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CY2018Q1 us-gaap Common Stock Shares Issued
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CY2018Q1 us-gaap Common Stock Shares Outstanding
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CY2018Q1 us-gaap Common Stock Value
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11900000 USD
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60200000 USD
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CY2018Q1 us-gaap Deferred Income Tax Expense Benefit
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140639000 USD
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65245000 USD
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43670000 USD
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62325000 USD
CY2018Q1 us-gaap Deferred Sales Inducements Amortization Expense
DeferredSalesInducementsAmortizationExpense
100423000 USD
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CY2018Q1 us-gaap Derivative Assets
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1600000000 USD
CY2018Q1 us-gaap Derivative Collateral Obligation To Return Cash
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800000000 USD
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386533000 USD
CY2018Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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EarningsPerShareBasic
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EarningsPerShareBasic
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0.35
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0.21
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CY2018Q1 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
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122000 USD
CY2018Q1 us-gaap Equity Method Investment Dividends Or Distributions
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0 USD
CY2018Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0 USD
CY2017Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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0 USD
CY2018Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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0 USD
CY2017Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
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0 USD
CY2018Q1 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
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0 USD
CY2017Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
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0 USD
CY2018Q1 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
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0 USD
CY2017Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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0 USD
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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0 USD
CY2017Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
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0 USD
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
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0 USD
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4880000 USD
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4840000 USD
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FinancingReceivableRecordedInvestmentCurrent
2707352000 USD
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2200000 USD
CY2018Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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CY2017Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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0 USD
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
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CY2017Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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0 USD
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
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CY2017Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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CY2017Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2018Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
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4373000 USD
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CY2018Q1 us-gaap Financing Receivable Recorded Investment Past Due
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CY2018Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
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2338000 USD
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302000 USD
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71000 USD
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31161000 USD
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177611000 USD
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1436000 USD
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1395000 USD
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3291000 USD
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2509000 USD
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72000 USD
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50000 USD
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2490000 USD
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5445000 USD
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3186000 USD
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0 USD
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907000 USD
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81477000 USD
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47000 USD
CY2018Q1 us-gaap Income Taxes Paid
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233992000 USD
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26371000 USD
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25511000 USD
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110574000 USD
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96562000 USD
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37906000 USD
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726000 USD
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2049000 USD
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470000 USD
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4431000 USD
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3757000 USD
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CY2017Q1 us-gaap Increase Decrease In Outstanding Checks Financing Activities
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-10084000 USD
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6867000 USD
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43572000 USD
CY2018Q1 us-gaap Insurance Commissions And Fees
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3336000 USD
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6372000 USD
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3630000 USD
CY2017Q1 us-gaap Interest Paid
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CY2018Q1 us-gaap Interest Paid
InterestPaid
3488000 USD
CY2017Q4 us-gaap Investments
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50300705000 USD
CY2018Q1 us-gaap Investments
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49657594000 USD
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CY2018Q1 us-gaap Liabilities
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CY2017Q4 us-gaap Liabilities And Stockholders Equity
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62030736000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
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CY2017Q4 us-gaap Liability For Future Policy Benefits
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CY2017Q4 us-gaap Loans And Leases Receivable Deferred Income
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1266000 USD
CY2018Q1 us-gaap Loans And Leases Receivable Deferred Income
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1219000 USD
CY2017Q4 us-gaap Loans Receivable Commercial Real Estate
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2674315000 USD
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2707352000 USD
CY2018Q1 us-gaap Long Duration Contracts Assumptions By Product And Guarantee Mortality Rate
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0.65
CY2017Q4 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
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2665531000 USD
CY2018Q1 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
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2699637000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
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394244000 USD
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CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
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498049000 USD
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CY2017Q1 us-gaap Net Income Loss
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CY2017Q1 us-gaap Net Investment Income
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485597000 USD
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510784000 USD
CY2017Q4 us-gaap Notes And Loans Payable
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494093000 USD
CY2018Q1 us-gaap Notes And Loans Payable
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