2015 Q4 Form 10-Q Financial Statement

#000162828015008083 Filed on October 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $3.227B $2.752B $3.299B
YoY Change -2.18% -4.44% 2.8%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.571B $2.329B $2.664B
YoY Change -3.49% -5.44% -1.11%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $137.0M $134.0M $148.0M
YoY Change -7.43% -11.26% -8.64%
% of Gross Profit
Operating Expenses $2.571B $2.329B $2.664B
YoY Change -3.49% -5.44% -1.11%
Operating Profit $656.0M $423.0M $635.0M
YoY Change 3.31% 1.44% 23.3%
Interest Expense -$64.00M $72.00M -$53.00M
YoY Change 20.75% 10.77% -28.38%
% of Operating Profit -9.76% 17.02% -8.35%
Other Income/Expense, Net -$13.00M $8.000M $0.00
YoY Change -77.14% -100.0%
Pretax Income $702.0M $352.0M $581.0M
YoY Change 20.83% -9.74% 22.32%
Income Tax $112.0M $49.00M $114.0M
% Of Pretax Income 15.95% 13.92% 19.62%
Net Earnings $540.0M $311.0M $467.0M
YoY Change 15.63% -1.27% 29.72%
Net Earnings / Revenue 16.73% 11.3% 14.16%
Basic Earnings Per Share $1.05 $1.60
Diluted Earnings Per Share $2.105M $1.04 $1.56
COMMON SHARES
Basic Shares Outstanding 273.9M shares 280.9M shares
Diluted Shares Outstanding 283.8M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $740.0M $783.0M $768.0M
YoY Change -3.65% 30.72% -23.2%
Cash & Equivalents $384.0M $398.0M $374.0M
Short-Term Investments $356.0M $385.0M $394.0M
Other Short-Term Assets $329.0M $728.0M $602.0M
YoY Change -45.35% 2.39% 6.93%
Inventory
Prepaid Expenses $130.0M $161.0M $164.0M
Receivables $2.564B $2.453B $2.815B
Other Receivables $94.00M $244.0M $311.0M
Total Short-Term Assets $13.57B $13.92B $15.82B
YoY Change -14.27% -5.66% -3.1%
LONG-TERM ASSETS
Property, Plant & Equipment $765.0M $785.0M $765.0M
YoY Change 0.0% 3.29% -3.29%
Goodwill $7.068B $8.571B $8.860B
YoY Change -20.23% -5.04% -1.52%
Intangibles $3.199B $3.276B $3.539B
YoY Change -9.61% -9.78% -1.61%
Long-Term Investments $135.0M $136.0M $124.0M
YoY Change 8.87% 11.48% 9.73%
Other Assets $592.0M $1.673B $727.0M
YoY Change -18.57% 9.27% -40.89%
Total Long-Term Assets $13.02B $13.29B $13.81B
YoY Change -5.7% -5.59% 0.56%
TOTAL ASSETS
Total Short-Term Assets $13.57B $13.92B $15.82B
Total Long-Term Assets $13.02B $13.29B $13.81B
Total Assets $26.88B $27.21B $29.77B
YoY Change -9.7% -5.62% -1.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.772B $1.447B $1.805B
YoY Change -1.83% -5.3% -6.53%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $562.0M $1.327B $783.0M
YoY Change -28.22% 101.06% 11.38%
Total Short-Term Liabilities $13.09B $13.54B $15.01B
YoY Change -12.85% -2.27% -2.58%
LONG-TERM LIABILITIES
Long-Term Debt $5.138B $4.799B $4.799B
YoY Change 7.06% -0.85% 30.2%
Other Long-Term Liabilities $769.0M $1.091B $874.0M
YoY Change -12.01% -23.28% -6.22%
Total Long-Term Liabilities $5.907B $5.890B $5.673B
YoY Change 4.12% -5.94% 22.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.09B $13.54B $15.01B
Total Long-Term Liabilities $5.907B $5.890B $5.673B
Total Liabilities $20.82B $21.26B $23.14B
YoY Change -10.01% -1.35% 4.92%
SHAREHOLDERS EQUITY
Retained Earnings $4.013B $4.015B $4.605B
YoY Change -12.86% -14.9% -19.65%
Common Stock $5.412B $5.321B $5.100B
YoY Change 6.12% 6.1% 6.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.002B $5.883B $6.571B
YoY Change
Total Liabilities & Shareholders Equity $26.88B $27.21B $29.77B
YoY Change -9.7% -5.62% -1.58%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income $540.0M $311.0M $467.0M
YoY Change 15.63% -1.27% 29.72%
Depreciation, Depletion And Amortization $137.0M $134.0M $148.0M
YoY Change -7.43% -11.26% -8.64%
Cash From Operating Activities $714.0M $717.0M $759.0M
YoY Change -5.93% 30.36% 16.95%
INVESTING ACTIVITIES
Capital Expenditures -$65.00M -$83.00M -$77.00M
YoY Change -15.58% 29.69% 40.0%
Acquisitions
YoY Change
Other Investing Activities $113.0M $98.00M -$206.0M
YoY Change -154.85% -138.89% 42.07%
Cash From Investing Activities $48.00M $15.00M -$283.0M
YoY Change -116.96% -104.75% 41.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -759.0M -589.0M -430.0M
YoY Change 76.51% 131.89% 44.78%
NET CHANGE
Cash From Operating Activities 714.0M 717.0M 759.0M
Cash From Investing Activities 48.00M 15.00M -283.0M
Cash From Financing Activities -759.0M -589.0M -430.0M
Net Change In Cash 3.000M 143.0M 46.00M
YoY Change -93.48% -815.0% -69.74%
FREE CASH FLOW
Cash From Operating Activities $714.0M $717.0M $759.0M
Capital Expenditures -$65.00M -$83.00M -$77.00M
Free Cash Flow $779.0M $800.0M $836.0M
YoY Change -6.82% 30.29% 18.75%

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CY2015Q3 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
1833000000 USD
CY2015Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1000000 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
164000000 USD
CY2015Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
161000000 USD
CY2014Q4 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
933000000 USD
CY2015Q3 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
923000000 USD
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
48000000 USD
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
54000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
4255000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3494000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
58000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
72000000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
1000000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-5000000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
51000000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
23000000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
315000000 USD
us-gaap Profit Loss
ProfitLoss
964000000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
303000000 USD
us-gaap Profit Loss
ProfitLoss
832000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
765000000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
785000000 USD
CY2014Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
9000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-101000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-57000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3073000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2860000000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
104000000 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
42000000 USD
CY2014Q4 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
169000000 USD
CY2015Q3 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
107000000 USD
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
283800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
285900000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
292300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
298100000 shares
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4605000000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4015000000 USD
CY2014Q3 us-gaap Revenues
Revenues
2880000000 USD
us-gaap Revenues
Revenues
8746000000 USD
CY2015Q3 us-gaap Revenues
Revenues
2742000000 USD
us-gaap Revenues
Revenues
8394000000 USD
us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
25000000 USD
us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
247000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
239000000 USD
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
51000000 USD
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
103000000 USD
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
42000000 USD
CY2014Q4 us-gaap Short Term Investments
ShortTermInvestments
394000000 USD
CY2015Q3 us-gaap Short Term Investments
ShortTermInvestments
385000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
32000000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
6571000000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
5883000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6631000000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5942000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
73800000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5500000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1150000000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
7000000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
161000000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
296100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
301600000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
280900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
283200000 shares

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