2015 Q1 Form 10-Q Financial Statement

#000119312515160160 Filed on April 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $1.885B $2.582B
YoY Change -26.98% 3.93%
Cost Of Revenue $1.700B $1.918B
YoY Change -11.37% 5.73%
Gross Profit $526.9M $664.3M
YoY Change -20.68% -0.94%
Gross Profit Margin 27.95% 25.73%
Selling, General & Admin $240.3M $263.4M
YoY Change -8.77% -1.2%
% of Gross Profit 45.61% 39.65%
Research & Development $35.80M $33.20M
YoY Change 7.83% 2.79%
% of Gross Profit 6.79% 5.0%
Depreciation & Amortization $233.3M $229.1M
YoY Change 1.83% 1.28%
% of Gross Profit 44.28% 34.49%
Operating Expenses $276.1M $296.6M
YoY Change -6.91% -0.77%
Operating Profit $247.5M $384.7M
YoY Change -35.66% -1.28%
Interest Expense $23.40M $31.50M
YoY Change -25.71% -10.51%
% of Operating Profit 9.45% 8.19%
Other Income/Expense, Net
YoY Change
Pretax Income $386.5M $383.6M
YoY Change 0.76% -2.71%
Income Tax $63.00M $92.10M
% Of Pretax Income 16.3% 24.01%
Net Earnings $290.0M $283.5M
YoY Change 2.29% -2.38%
Net Earnings / Revenue 15.38% 10.98%
Basic Earnings Per Share $1.35 $1.33
Diluted Earnings Per Share $1.33 $1.32
COMMON SHARES
Basic Shares Outstanding 214.9M shares 212.4M shares
Diluted Shares Outstanding 217.4M shares 214.9M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $196.0M $357.0M
YoY Change -45.1% -11.19%
Cash & Equivalents $195.7M $356.9M
Short-Term Investments
Other Short-Term Assets $569.9M $529.0M
YoY Change 7.73% 5.59%
Inventory $693.3M $665.3M
Prepaid Expenses $114.9M $98.10M
Receivables $1.381B $1.614B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.115B $3.300B
YoY Change -5.62% -2.35%
LONG-TERM ASSETS
Property, Plant & Equipment $9.486B $9.312B
YoY Change 1.86% 9.7%
Goodwill $1.155B $1.614B
YoY Change -28.41% 1.15%
Intangibles $553.4M $674.1M
YoY Change -17.91% -8.2%
Long-Term Investments $1.224B $1.231B
YoY Change -0.57% 2.75%
Other Assets $586.8M $393.0M
YoY Change 49.31% 5.28%
Total Long-Term Assets $14.38B $14.66B
YoY Change -1.94% 5.93%
TOTAL ASSETS
Total Short-Term Assets $3.115B $3.300B
Total Long-Term Assets $14.38B $14.66B
Total Assets $17.49B $17.96B
YoY Change -2.61% 4.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.379B $1.830B
YoY Change -24.64% 1.67%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.261B $1.062B
YoY Change 18.79% -14.4%
Long-Term Debt Due $157.7M $112.0M
YoY Change 40.8% 15.82%
Total Short-Term Liabilities $3.081B $3.110B
YoY Change -0.92% -3.46%
LONG-TERM LIABILITIES
Long-Term Debt $4.512B $4.993B
YoY Change -9.64% 7.5%
Other Long-Term Liabilities $1.043B $1.162B
YoY Change -10.22% -32.6%
Total Long-Term Liabilities $6.656B $6.981B
YoY Change -4.66% -1.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.081B $3.110B
Total Long-Term Liabilities $6.656B $6.981B
Total Liabilities $9.738B $10.09B
YoY Change -3.51% -2.07%
SHAREHOLDERS EQUITY
Retained Earnings $10.27B $9.904B
YoY Change 3.66% 4.02%
Common Stock $1.127B $1.063B
YoY Change 6.07% 1.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.400B $2.562B
YoY Change -6.32% -9.4%
Treasury Stock Shares 34.69M shares 37.18M shares
Shareholders Equity $7.333B $7.371B
YoY Change
Total Liabilities & Shareholders Equity $17.49B $17.96B
YoY Change -2.61% 4.31%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $290.0M $283.5M
YoY Change 2.29% -2.38%
Depreciation, Depletion And Amortization $233.3M $229.1M
YoY Change 1.83% 1.28%
Cash From Operating Activities $480.6M $478.5M
YoY Change 0.44% 47.5%
INVESTING ACTIVITIES
Capital Expenditures -$182.0M -$411.1M
YoY Change -55.73% 17.36%
Acquisitions
YoY Change
Other Investing Activities -$194.6M $5.300M
YoY Change -3771.7% 39.47%
Cash From Investing Activities -$376.6M -$405.8M
YoY Change -7.2% 17.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -144.7M -99.50M
YoY Change 45.43% -13.02%
NET CHANGE
Cash From Operating Activities 480.6M 478.5M
Cash From Investing Activities -376.6M -405.8M
Cash From Financing Activities -144.7M -99.50M
Net Change In Cash -40.70M -26.80M
YoY Change 51.87% -80.37%
FREE CASH FLOW
Cash From Operating Activities $480.6M $478.5M
Capital Expenditures -$182.0M -$411.1M
Free Cash Flow $662.6M $889.6M
YoY Change -25.52% 31.85%

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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
22700000 USD
us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
77500000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-12800000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
19200000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
5300000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
24800000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
2700000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
0 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
2700000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
0 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24800000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
16100000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
8700000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
8200000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
15200000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23400000 USD
CY2014Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
1000000 USD
CY2014Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
5600000 USD
CY2014Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
163400000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
34700000 USD
CY2015Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12900000 USD
CY2015Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
1100000 USD
CY2015Q1 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
0 USD
CY2015Q1 apd Equity Profit Loss
EquityProfitLoss
296900000 USD
CY2015Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
173900000 USD
CY2015Q1 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
9400000 USD
CY2015Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
13100000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
32800000 USD
CY2014Q1 apd Equity Profit Loss
EquityProfitLoss
290800000 USD
CY2014Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11600000 USD
CY2014Q1 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
9200000 USD
CY2014Q1 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
0 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7503300000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-505300000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-80600000 USD
CY2014Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
288700000 USD
CY2014Q1 us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
700000 USD
CY2014Q1 us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
-15800000 USD
CY2014Q1 apd Dividends Redeemable Noncontrolling Interest
DividendsRedeemableNoncontrollingInterest
0 USD
CY2015Q1 us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
0 USD
CY2015Q1 us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
-8700000 USD
CY2015Q1 apd Dividends Redeemable Noncontrolling Interest
DividendsRedeemableNoncontrollingInterest
0 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2500000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2500000 shares
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
CY2015Q1 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
-12600000 USD
CY2013Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
358700000 USD
CY2014Q4 us-gaap Number Of Reporting Units
NumberOfReportingUnits
13 ReportingUnit
CY2015Q1 apd Rep Unit Goodwill As Percent Total Assets
RepUnitGoodwillAsPercentTotalAssets
0.013 pure
CY2014Q1 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0 USD
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
-12600000 USD
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0 USD
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD

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