2016 Q2 Form 10-Q Financial Statement

#000119312516662727 Filed on July 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $1.915B $1.934B
YoY Change -1.03% -26.58%
Cost Of Revenue $1.320B $1.715B
YoY Change -23.03% -10.61%
Gross Profit $594.3M $557.3M
YoY Change 6.64% -22.15%
Gross Profit Margin 31.04% 28.81%
Selling, General & Admin $168.4M $241.5M
YoY Change -30.27% -11.21%
% of Gross Profit 28.34% 43.33%
Research & Development $18.70M $33.40M
YoY Change -44.01% -1.18%
% of Gross Profit 3.15% 5.99%
Depreciation & Amortization $213.5M $233.0M
YoY Change -8.37% -2.51%
% of Gross Profit 35.92% 41.81%
Operating Expenses $187.1M $274.9M
YoY Change -31.94% -10.1%
Operating Profit $394.6M $294.5M
YoY Change 33.99% -28.83%
Interest Expense $35.10M $28.20M
YoY Change 24.47% -9.9%
% of Operating Profit 8.9% 9.58%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $401.6M $439.0M
YoY Change -8.52% 3.15%
Income Tax $145.9M $74.70M
% Of Pretax Income 36.33% 17.02%
Net Earnings $346.8M $318.8M
YoY Change 8.78% 1.53%
Net Earnings / Revenue 18.11% 16.48%
Basic Earnings Per Share $1.60 $1.48
Diluted Earnings Per Share $1.59 $1.47
COMMON SHARES
Basic Shares Outstanding 216.6M shares 215.2M shares
Diluted Shares Outstanding 218.5M shares 217.4M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $515.0M $215.0M
YoY Change 139.53% -36.39%
Cash & Equivalents $438.5M $215.3M
Short-Term Investments
Other Short-Term Assets $479.7M $551.9M
YoY Change -13.08% 1.83%
Inventory $611.1M $681.9M
Prepaid Expenses $80.30M $63.40M
Receivables $1.563B $1.441B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.379B $3.102B
YoY Change 8.91% -7.11%
LONG-TERM ASSETS
Property, Plant & Equipment $8.799B $9.721B
YoY Change -9.49% 1.48%
Goodwill $1.135B $1.164B
YoY Change -2.46% -27.83%
Intangibles $491.2M $541.5M
YoY Change -9.29% -18.64%
Long-Term Investments $1.270B $1.244B
YoY Change 2.09% -0.96%
Other Assets $763.7M $523.8M
YoY Change 45.8% 22.87%
Total Long-Term Assets $13.70B $14.57B
YoY Change -5.93% -2.72%
TOTAL ASSETS
Total Short-Term Assets $3.379B $3.102B
Total Long-Term Assets $13.70B $14.57B
Total Assets $17.08B $17.67B
YoY Change -3.33% -3.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.658B $1.701B
YoY Change -2.53% -6.95%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.043B $1.088B
YoY Change -4.12% -2.46%
Long-Term Debt Due $715.1M $84.90M
YoY Change 742.29% 21.63%
Total Short-Term Liabilities $3.659B $2.919B
YoY Change 25.35% -7.52%
LONG-TERM LIABILITIES
Long-Term Debt $3.926B $4.691B
YoY Change -16.31% -5.26%
Other Long-Term Liabilities $1.414B $1.023B
YoY Change 38.31% -11.33%
Total Long-Term Liabilities $6.244B $6.743B
YoY Change -7.4% -3.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.659B $2.919B
Total Long-Term Liabilities $6.244B $6.743B
Total Liabilities $9.903B $9.662B
YoY Change 2.49% -4.51%
SHAREHOLDERS EQUITY
Retained Earnings $10.27B $10.41B
YoY Change -1.37% 3.56%
Common Stock $1.185B $1.139B
YoY Change 4.05% 5.61%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.282B $2.385B
YoY Change -4.32% -4.98%
Treasury Stock Shares 32.91M shares 34.47M shares
Shareholders Equity $7.045B $7.586B
YoY Change
Total Liabilities & Shareholders Equity $17.08B $17.67B
YoY Change -3.33% -3.52%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $346.8M $318.8M
YoY Change 8.78% 1.53%
Depreciation, Depletion And Amortization $213.5M $233.0M
YoY Change -8.37% -2.51%
Cash From Operating Activities $719.3M $690.7M
YoY Change 4.14% 23.49%
INVESTING ACTIVITIES
Capital Expenditures -$228.9M -$320.1M
YoY Change -28.49% -30.82%
Acquisitions
YoY Change
Other Investing Activities -$26.80M -$79.10M
YoY Change -66.12% -429.58%
Cash From Investing Activities -$255.7M -$399.2M
YoY Change -35.95% -9.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -258.7M -272.1M
YoY Change -4.92% 87.66%
NET CHANGE
Cash From Operating Activities 719.3M 690.7M
Cash From Investing Activities -255.7M -399.2M
Cash From Financing Activities -258.7M -272.1M
Net Change In Cash 204.9M 19.40M
YoY Change 956.19% -179.51%
FREE CASH FLOW
Cash From Operating Activities $719.3M $690.7M
Capital Expenditures -$228.9M -$320.1M
Free Cash Flow $948.2M $1.011B
YoY Change -6.19% -1.1%

Facts In Submission

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CY2016Q2 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
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0 USD
CY2016Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Payable And Accrued Liabilities Current
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18600000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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28100000 USD
CY2015 apd Goodwill Accumulated Impairment Losses Currency Translation Adjustment
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61500000 USD
apd Adjustment For Deferred Income Tax Expense Benefit
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18500000 USD
us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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-1900000 USD
CY2016Q2 us-gaap Sales Revenue Net
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CY2015Q3 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
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110800000 USD
CY2016Q2 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
0 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2016Q2 us-gaap Assets Noncurrent
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CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2200000 shares
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
0 USD
us-gaap Proceeds From Stock Options Exercised
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92500000 USD
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10500000 USD
us-gaap Proceeds From Stock Options Exercised
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76200000 USD
CY2015Q3 us-gaap Inventory Work In Process
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34400000 USD
us-gaap Comprehensive Income Net Of Tax
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us-gaap Allocated Share Based Compensation Expense Net Of Tax
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us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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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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-2700000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2015Q2 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
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-1600000 USD
CY2015Q3 us-gaap Liabilities Current
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3644400000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
6600000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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35500000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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-17300000 USD
us-gaap Dividends Common Stock Cash
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546700000 USD
us-gaap Goodwill Translation Adjustments
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3900000 USD
CY2015Q2 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
dei Entity Registrant Name
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AIR PRODUCTS & CHEMICALS INC /DE/
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CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Proceeds From Issuance Of Long Term Debt
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386900000 USD
us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
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19967100000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
267800000 USD
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.48
us-gaap Proceeds From Payments For Other Financing Activities
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-34400000 USD
CY2015Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
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1800000 USD
CY2015Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
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-2300000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-972900000 USD
CY2015Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
55800000 USD
CY2016Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
5900000 USD
CY2016Q2 us-gaap Intangible Assets Net Excluding Goodwill
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491200000 USD
us-gaap Increase Decrease In Cost In Excess Of Billing On Uncompleted Contract
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100000 USD
CY2015Q3 us-gaap Other Assets Current
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343500000 USD
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.04
CY2016Q2 us-gaap Long Term Debt Current
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us-gaap Income Loss From Equity Method Investments
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118500000 USD
us-gaap Profit Loss
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967600000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
65400000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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1700000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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189700000 USD
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us-gaap Earnings Per Share Basic
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1.1
us-gaap Interest Expense
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80700000 USD
apd Business Separation Costs
BusinessSeparationCosts
0 USD
CY2015Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
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2500000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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5800000 USD
CY2015Q2 us-gaap Restructuring And Related Cost Incurred Cost
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58200000 USD
CY2016Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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1270400000 USD
CY2015Q2 us-gaap Temporary Equity Net Income
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CY2016Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Income Loss From Continuing Operations
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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7900000 USD
us-gaap Dividends Common Stock Cash
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513500000 USD
us-gaap Restructuring And Related Cost Incurred Cost
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146000000 USD
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2015Q2 us-gaap Research And Development Expense
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33400000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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1674500000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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-7100000 USD
CY2016Q2 us-gaap Income Loss From Equity Method Investments
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42400000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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-1000000 USD
CY2015Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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us-gaap Stock Issued During Period Value Share Based Compensation
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apd Proceeds From Sale Of Assets And Investments
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76600000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28600000 USD
CY2016Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
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18800000 USD
CY2016Q2 us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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CY2016Q2 apd Business Separation Costs
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9500000 USD
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3800000000 USD
CY2016Q2 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
45700000 USD
CY2016Q2 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Net Of Tax
DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax
0 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
27800000 USD
us-gaap Other Asset Impairment Charges
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0 USD
us-gaap Defined Benefit Plan Cost Of Providing Special Or Contractual Termination Benefit Recognized During Period
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2000000 USD
us-gaap Defined Benefit Plan Cost Of Providing Special Or Contractual Termination Benefit Recognized During Period
DefinedBenefitPlanCostOfProvidingSpecialOrContractualTerminationBenefitRecognizedDuringPeriod
6500000 USD

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