2016 Q2 Form 10-Q Financial Statement

#000162828016017965 Filed on July 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $2.282B $2.836B
YoY Change -19.53% -2.84%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.816B $2.528B
YoY Change -28.16% 2.18%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $41.00M $136.0M
YoY Change -69.85% -8.72%
% of Gross Profit
Operating Expenses $1.895B $2.528B
YoY Change -25.04% 2.18%
Operating Profit $387.0M $308.0M
YoY Change 25.65% -30.79%
Interest Expense $73.00M $68.00M
YoY Change 7.35% 4.62%
% of Operating Profit 18.86% 22.08%
Other Income/Expense, Net -$1.000M $1.000M
YoY Change -200.0% -150.0%
Pretax Income $316.0M $214.0M
YoY Change 47.66% -43.68%
Income Tax $43.00M $26.00M
% Of Pretax Income 13.61% 12.15%
Net Earnings $308.0M $214.0M
YoY Change 43.93% -31.63%
Net Earnings / Revenue 13.5% 7.55%
Basic Earnings Per Share $1.12 $0.63
Diluted Earnings Per Share $1.11 $0.62
COMMON SHARES
Basic Shares Outstanding 268.0M shares 284.5M shares
Diluted Shares Outstanding 269.8M shares 286.7M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $689.0M $851.0M
YoY Change -19.04% 17.22%
Cash & Equivalents $438.0M $367.0M
Short-Term Investments $251.0M $484.0M
Other Short-Term Assets $395.0M $731.0M
YoY Change -45.96% -47.64%
Inventory
Prepaid Expenses $152.0M $175.0M
Receivables $2.516B $2.684B
Other Receivables $146.0M $220.0M
Total Short-Term Assets $13.80B $15.66B
YoY Change -11.84% -11.61%
LONG-TERM ASSETS
Property, Plant & Equipment $751.0M $782.0M
YoY Change -3.96% -0.64%
Goodwill $8.473B $8.661B
YoY Change -2.17% -4.81%
Intangibles $3.126B $3.369B
YoY Change -7.21% -3.38%
Long-Term Investments $127.0M $142.0M
YoY Change -10.56% 21.37%
Other Assets $576.0M $1.755B
YoY Change -67.18% 11.57%
Total Long-Term Assets $12.89B $13.55B
YoY Change -4.84% -3.68%
TOTAL ASSETS
Total Short-Term Assets $13.80B $15.66B
Total Long-Term Assets $12.89B $13.55B
Total Assets $26.69B $29.20B
YoY Change -8.6% -8.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.373B $1.368B
YoY Change 0.37% -8.68%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $251.0M $1.237B
YoY Change -79.71% 54.82%
Total Short-Term Liabilities $12.70B $14.84B
YoY Change -14.43% -7.49%
LONG-TERM LIABILITIES
Long-Term Debt $5.907B $4.824B
YoY Change 22.45% -6.42%
Other Long-Term Liabilities $767.0M $1.140B
YoY Change -32.72% -11.56%
Total Long-Term Liabilities $6.674B $5.964B
YoY Change 11.9% -7.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.70B $14.84B
Total Long-Term Liabilities $6.674B $5.964B
Total Liabilities $21.13B $22.75B
YoY Change -7.1% -5.29%
SHAREHOLDERS EQUITY
Retained Earnings $3.784B $4.405B
YoY Change -14.1% -11.58%
Common Stock $5.437B $5.229B
YoY Change 3.98% 5.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.499B $6.398B
YoY Change
Total Liabilities & Shareholders Equity $26.69B $29.20B
YoY Change -8.6% -8.1%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $308.0M $214.0M
YoY Change 43.93% -31.63%
Depreciation, Depletion And Amortization $41.00M $136.0M
YoY Change -69.85% -8.72%
Cash From Operating Activities $491.0M $280.0M
YoY Change 75.36% -18.6%
INVESTING ACTIVITIES
Capital Expenditures -$31.00M -$80.00M
YoY Change -61.25% 33.33%
Acquisitions
YoY Change
Other Investing Activities $146.0M -$123.0M
YoY Change -218.7% 192.86%
Cash From Investing Activities $115.0M -$203.0M
YoY Change -156.65% 99.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -640.0M -84.00M
YoY Change 661.9% -55.56%
NET CHANGE
Cash From Operating Activities 491.0M 280.0M
Cash From Investing Activities 115.0M -203.0M
Cash From Financing Activities -640.0M -84.00M
Net Change In Cash -34.00M -7.000M
YoY Change 385.71% -113.21%
FREE CASH FLOW
Cash From Operating Activities $491.0M $280.0M
Capital Expenditures -$31.00M -$80.00M
Free Cash Flow $522.0M $360.0M
YoY Change 45.0% -10.89%

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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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147000000 USD
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Tax Expense Benefit
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Repurchase Of Equity
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us-gaap Proceeds From Repurchase Of Equity
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us-gaap Proceeds From Sale And Maturity Of Other Investments
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us-gaap Proceeds From Sale And Maturity Of Other Investments
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CY2015Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2016Q2 us-gaap Profit Loss
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280000000 USD
us-gaap Profit Loss
ProfitLoss
607000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
765000000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
751000000 USD
CY2015Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
11000000 USD
CY2016Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1896000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1632000000 USD
CY2015Q4 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
105000000 USD
CY2016Q2 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
87000000 USD
CY2015Q2 us-gaap Restructuring Reserve
RestructuringReserve
19000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4117000000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3784000000 USD
CY2015Q2 us-gaap Revenues
Revenues
2805000000 USD
us-gaap Revenues
Revenues
5652000000 USD
CY2016Q2 us-gaap Revenues
Revenues
2766000000 USD
us-gaap Revenues
Revenues
5558000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
164000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
155000000 USD
CY2015Q2 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
100000000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
9000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
17000000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
38000000 USD
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
356000000 USD
CY2016Q2 us-gaap Short Term Investments
ShortTermInvestments
251000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
17000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
6106000000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
5499000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6163000000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5561000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
85700000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
6700000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
750000000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
286700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
286900000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
269800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
271700000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
284500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
284300000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
268000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
269900000 shares

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