2016 Q4 Form 10-Q Financial Statement

#000162828016020443 Filed on October 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $2.650B $2.201B $3.227B
YoY Change -17.88% -20.02% -2.18%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.930B $1.752B $2.571B
YoY Change -24.93% -24.77% -3.49%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $84.00M $39.00M $137.0M
YoY Change -38.69% -70.9% -7.43%
% of Gross Profit
Operating Expenses $2.014B $1.833B $2.571B
YoY Change -21.66% -21.3% -3.49%
Operating Profit $463.0M $368.0M $656.0M
YoY Change -29.42% -13.0% 3.31%
Interest Expense -$56.00M $70.00M -$64.00M
YoY Change -12.5% -2.78% 20.75%
% of Operating Profit -12.1% 19.02% -9.76%
Other Income/Expense, Net -$173.0M $10.00M -$13.00M
YoY Change 1230.77% 25.0%
Pretax Income $405.0M $309.0M $702.0M
YoY Change -42.31% -12.22% 20.83%
Income Tax $21.00M $25.00M $112.0M
% Of Pretax Income 5.19% 8.09% 15.95%
Net Earnings $459.0M $326.0M $540.0M
YoY Change -15.0% 4.82% 15.63%
Net Earnings / Revenue 17.32% 14.81% 16.73%
Basic Earnings Per Share $1.70 $1.19
Diluted Earnings Per Share $1.68 $1.18 $2.105M
COMMON SHARES
Basic Shares Outstanding 263.1M shares 267.5M shares 273.9M shares
Diluted Shares Outstanding 269.6M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $716.0M $946.0M $740.0M
YoY Change -3.24% 20.82% -3.65%
Cash & Equivalents $426.0M $483.0M $384.0M
Short-Term Investments $290.0M $463.0M $356.0M
Other Short-Term Assets $247.0M $424.0M $329.0M
YoY Change -24.92% -41.76% -45.35%
Inventory
Prepaid Expenses $102.0M $150.0M $130.0M
Receivables $2.106B $2.391B $2.564B
Other Receivables $100.0M $169.0M $94.00M
Total Short-Term Assets $13.15B $12.47B $13.57B
YoY Change -3.09% -10.41% -14.27%
LONG-TERM ASSETS
Property, Plant & Equipment $550.0M $738.0M $765.0M
YoY Change -28.1% -5.99% 0.0%
Goodwill $7.410B $8.452B $7.068B
YoY Change 4.84% -1.39% -20.23%
Intangibles $2.888B $3.057B $3.199B
YoY Change -9.72% -6.68% -9.61%
Long-Term Investments $119.0M $124.0M $135.0M
YoY Change -11.85% -8.82% 8.87%
Other Assets $360.0M $564.0M $592.0M
YoY Change -39.19% -66.29% -18.57%
Total Long-Term Assets $550.0M $12.78B $13.02B
YoY Change -95.78% -3.8% -5.7%
TOTAL ASSETS
Total Short-Term Assets $13.15B $12.47B $13.57B
Total Long-Term Assets $550.0M $12.78B $13.02B
Total Assets $26.62B $25.25B $26.88B
YoY Change -1.0% -7.18% -9.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.604B $1.477B $1.772B
YoY Change -9.48% 2.07% -1.83%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $336.0M $250.0M $562.0M
YoY Change -40.21% -81.16% -28.22%
Total Short-Term Liabilities $12.50B $11.37B $13.09B
YoY Change -4.51% -16.06% -12.85%
LONG-TERM LIABILITIES
Long-Term Debt $5.869B $5.910B $5.138B
YoY Change 14.23% 23.15% 7.06%
Other Long-Term Liabilities $719.0M $759.0M $769.0M
YoY Change -6.5% -30.43% -12.01%
Total Long-Term Liabilities $6.588B $6.669B $5.907B
YoY Change 11.53% 13.23% 4.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.50B $11.37B $13.09B
Total Long-Term Liabilities $6.588B $6.669B $5.907B
Total Liabilities $21.08B $19.76B $20.82B
YoY Change 1.24% -7.08% -10.01%
SHAREHOLDERS EQUITY
Retained Earnings $3.807B $3.702B $4.013B
YoY Change -5.13% -7.8% -12.86%
Common Stock $5.580B $5.525B $5.412B
YoY Change 3.1% 3.83% 6.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.475B $5.434B $6.002B
YoY Change
Total Liabilities & Shareholders Equity $26.62B $25.25B $26.88B
YoY Change -1.0% -7.18% -9.7%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income $459.0M $326.0M $540.0M
YoY Change -15.0% 4.82% 15.63%
Depreciation, Depletion And Amortization $84.00M $39.00M $137.0M
YoY Change -38.69% -70.9% -7.43%
Cash From Operating Activities $851.0M $711.0M $714.0M
YoY Change 19.19% -0.84% -5.93%
INVESTING ACTIVITIES
Capital Expenditures -$49.00M -$39.00M -$65.00M
YoY Change -24.62% -53.01% -15.58%
Acquisitions
YoY Change
Other Investing Activities -$534.0M -$248.0M $113.0M
YoY Change -572.57% -353.06% -154.85%
Cash From Investing Activities -$583.0M -$287.0M $48.00M
YoY Change -1314.58% -2013.33% -116.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -271.0M -371.0M -759.0M
YoY Change -64.3% -37.01% 76.51%
NET CHANGE
Cash From Operating Activities 851.0M 711.0M 714.0M
Cash From Investing Activities -583.0M -287.0M 48.00M
Cash From Financing Activities -271.0M -371.0M -759.0M
Net Change In Cash -3.000M 53.00M 3.000M
YoY Change -200.0% -62.94% -93.48%
FREE CASH FLOW
Cash From Operating Activities $851.0M $711.0M $714.0M
Capital Expenditures -$49.00M -$39.00M -$65.00M
Free Cash Flow $900.0M $750.0M $779.0M
YoY Change 15.53% -6.25% -6.82%

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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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71000000 USD
CY2015Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
1795000000 USD
CY2016Q3 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent
1687000000 USD
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
130000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2729000000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-26000000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-71000000 USD
us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
-1150000000 USD
us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
-1037000000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
23000000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
31000000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
303000000 USD
us-gaap Profit Loss
ProfitLoss
832000000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
314000000 USD
us-gaap Profit Loss
ProfitLoss
921000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
765000000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
738000000 USD
CY2015Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12000000 USD
CY2016Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
17000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2860000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2308000000 USD
CY2015Q4 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
105000000 USD
CY2016Q3 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
85000000 USD
CY2015Q3 us-gaap Restructuring Reserve
RestructuringReserve
25000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4117000000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3702000000 USD
CY2015Q3 us-gaap Revenues
Revenues
2742000000 USD
us-gaap Revenues
Revenues
8394000000 USD
CY2016Q3 us-gaap Revenues
Revenues
2746000000 USD
us-gaap Revenues
Revenues
8304000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
239000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
228000000 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
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
18000000 USD
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
39000000 USD
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
356000000 USD
CY2016Q3 us-gaap Short Term Investments
ShortTermInvestments
463000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
40000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
6106000000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
5434000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6163000000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5494000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
88400000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
7000000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1051000000 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
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
269600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
271000000 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
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
267500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
269100000 shares

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