2016 Q1 Form 10-Q Financial Statement

#000119312516562956 Filed on April 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $1.777B $1.885B
YoY Change -5.72% -26.98%
Cost Of Revenue $1.213B $1.700B
YoY Change -28.63% -11.37%
Gross Profit $564.4M $526.9M
YoY Change 7.12% -20.68%
Gross Profit Margin 31.75% 27.95%
Selling, General & Admin $167.8M $240.3M
YoY Change -30.17% -8.77%
% of Gross Profit 29.73% 45.61%
Research & Development $18.20M $35.80M
YoY Change -49.16% 7.83%
% of Gross Profit 3.22% 6.79%
Depreciation & Amortization $213.9M $233.3M
YoY Change -8.32% 1.83%
% of Gross Profit 37.9% 44.28%
Operating Expenses $186.0M $276.1M
YoY Change -32.63% -6.91%
Operating Profit $371.6M $247.5M
YoY Change 50.14% -35.66%
Interest Expense $25.70M $23.40M
YoY Change 9.83% -25.71%
% of Operating Profit 6.92% 9.45%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $378.2M $386.5M
YoY Change -2.15% 0.76%
Income Tax $93.50M $63.00M
% Of Pretax Income 24.72% 16.3%
Net Earnings -$473.3M $290.0M
YoY Change -263.21% 2.29%
Net Earnings / Revenue -26.63% 15.38%
Basic Earnings Per Share -$2.19 $1.35
Diluted Earnings Per Share -$2.17 $1.33
COMMON SHARES
Basic Shares Outstanding 216.1M shares 214.9M shares
Diluted Shares Outstanding 217.9M shares 217.4M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $313.0M $196.0M
YoY Change 59.69% -45.1%
Cash & Equivalents $286.7M $195.7M
Short-Term Investments
Other Short-Term Assets $444.9M $569.9M
YoY Change -21.93% 7.73%
Inventory $649.8M $693.3M
Prepaid Expenses $85.10M $114.9M
Receivables $1.373B $1.381B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.031B $3.115B
YoY Change -2.67% -5.62%
LONG-TERM ASSETS
Property, Plant & Equipment $8.854B $9.486B
YoY Change -6.66% 1.86%
Goodwill $1.151B $1.155B
YoY Change -0.42% -28.41%
Intangibles $499.9M $553.4M
YoY Change -9.67% -17.91%
Long-Term Investments $1.264B $1.224B
YoY Change 3.27% -0.57%
Other Assets $719.2M $586.8M
YoY Change 22.56% 49.31%
Total Long-Term Assets $13.78B $14.38B
YoY Change -4.17% -1.94%
TOTAL ASSETS
Total Short-Term Assets $3.031B $3.115B
Total Long-Term Assets $13.78B $14.38B
Total Assets $16.81B $17.49B
YoY Change -3.9% -2.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.408B $1.379B
YoY Change 2.1% -24.64%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.481B $1.261B
YoY Change 17.44% 18.79%
Long-Term Debt Due $763.9M $157.7M
YoY Change 384.4% 40.8%
Total Short-Term Liabilities $3.839B $3.081B
YoY Change 24.59% -0.92%
LONG-TERM LIABILITIES
Long-Term Debt $3.573B $4.512B
YoY Change -20.8% -9.64%
Other Long-Term Liabilities $1.463B $1.043B
YoY Change 40.26% -10.22%
Total Long-Term Liabilities $5.919B $6.656B
YoY Change -11.08% -4.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.839B $3.081B
Total Long-Term Liabilities $5.919B $6.656B
Total Liabilities $9.758B $9.738B
YoY Change 0.21% -3.51%
SHAREHOLDERS EQUITY
Retained Earnings $10.11B $10.27B
YoY Change -1.54% 3.66%
Common Stock $1.169B $1.127B
YoY Change 3.72% 6.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.400B
YoY Change -6.32%
Treasury Stock Shares 33.37M shares 34.69M shares
Shareholders Equity $6.917B $7.333B
YoY Change
Total Liabilities & Shareholders Equity $16.81B $17.49B
YoY Change -3.9% -2.61%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$473.3M $290.0M
YoY Change -263.21% 2.29%
Depreciation, Depletion And Amortization $213.9M $233.3M
YoY Change -8.32% 1.83%
Cash From Operating Activities $498.0M $480.6M
YoY Change 3.62% 0.44%
INVESTING ACTIVITIES
Capital Expenditures -$223.6M -$182.0M
YoY Change 22.86% -55.73%
Acquisitions
YoY Change
Other Investing Activities -$38.10M -$194.6M
YoY Change -80.42% -3771.7%
Cash From Investing Activities -$261.7M -$376.6M
YoY Change -30.51% -7.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -210.5M -144.7M
YoY Change 45.47% 45.43%
NET CHANGE
Cash From Operating Activities 498.0M 480.6M
Cash From Investing Activities -261.7M -376.6M
Cash From Financing Activities -210.5M -144.7M
Net Change In Cash 25.80M -40.70M
YoY Change -163.39% 51.87%
FREE CASH FLOW
Cash From Operating Activities $498.0M $480.6M
Capital Expenditures -$223.6M -$182.0M
Free Cash Flow $721.6M $662.6M
YoY Change 8.9% -25.52%

Facts In Submission

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us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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us-gaap Stockholders Equity Other
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1200000 USD
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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9700000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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30800000 USD
us-gaap Dividends Common Stock Cash
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360500000 USD
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1900000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2500000 shares
us-gaap Cash And Cash Equivalents Period Increase Decrease
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106700000 USD
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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-25100000 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
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CY2016Q1 us-gaap Goodwill Gross
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1405100000 USD
CY2015Q3 us-gaap Goodwill Gross
GoodwillGross
1375000000 USD
CY2016Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
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254500000 USD
CY2015Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
243700000 USD
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GoodwillAccumulatedImpairmentLossesCurrencyTranslationAdjustment
61500000 USD
apd Goodwill Accumulated Impairment Losses Currency Translation Adjustment
GoodwillAccumulatedImpairmentLossesCurrencyTranslationAdjustment
50700000 USD
apd Adjustment For Deferred Income Tax Expense Benefit
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87000000 USD
apd Adjustment For Deferred Income Tax Expense Benefit
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53500000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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-2800000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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0 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2208600000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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65800000 USD
us-gaap Depreciation Depletion And Amortization
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464800000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-226500000 USD
us-gaap Increase Decrease In Inventories
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-10500000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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13400000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-466700000 USD
us-gaap Other Noncash Income Expense
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us-gaap Payments For Proceeds From Other Investing Activities
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2500000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
us-gaap Proceeds From Payments For Other Financing Activities
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-25000000 USD
apd Proceeds From Sale Of Assets And Investments
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70600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
19500000 USD
us-gaap Allocated Share Based Compensation Expense
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19500000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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6800000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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200000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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300000 shares
us-gaap Restructuring And Related Cost Incurred Cost
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8600000 USD
us-gaap Restructuring And Related Cost Incurred Cost
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87800000 USD
CY2016Q1 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
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20400000 USD
CY2015Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
1800000 USD
CY2016Q1 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
0 USD
CY2015Q3 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
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891800000 USD
CY2016Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
46500000 USD
CY2015Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
17000000 USD
CY2016Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
0 USD
CY2015Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
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2500000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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7499000000 USD
CY2016Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
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-3800000 USD
CY2015Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
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-2500000 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
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us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
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CY2016Q1 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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2700000 USD
CY2015Q1 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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-3600000 USD
us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
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846600000 USD
us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
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0 USD
CY2016Q1 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
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846600000 USD
CY2015Q1 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
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0 USD
CY2016Q1 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Current
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20000000 USD
CY2015Q3 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Current
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0 USD
CY2016Q1 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
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400000 USD
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1800000 USD
CY2016Q1 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Noncurrent
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0 USD
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891800000 USD
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43700000 USD
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17000000 USD
CY2016Q1 us-gaap Disposal Group Including Discontinued Operation Other Noncurrent Liabilities
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0 USD
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2500000 USD
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7476300000 USD
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5400000 USD
us-gaap Temporary Equity Net Income
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0 USD
CY2016Q1 us-gaap Collateral Already Posted Aggregate Fair Value
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0 USD
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0 USD
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2800000 USD
CY2016Q1 apd Business Separation Costs
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7400000 USD
CY2015Q1 apd Business Separation Costs
BusinessSeparationCosts
0 USD
apd Business Separation Costs
BusinessSeparationCosts
19400000 USD
apd Business Separation Costs
BusinessSeparationCosts
0 USD

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