2015 Q1 Form 10-Q Financial Statement

#000073180215000016 Filed on May 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $1.173B $1.965B
YoY Change -40.3% 50.1%
Cost Of Revenue $1.019B $1.469B
YoY Change -30.59% 67.61%
Gross Profit $505.6M $496.3M
YoY Change 1.87% 14.68%
Gross Profit Margin 43.1% 25.26%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.00M $61.30M
YoY Change 10.93% 5.51%
% of Gross Profit 13.45% 12.35%
Operating Expenses $270.5M $246.2M
YoY Change 9.88% 10.61%
Operating Profit $242.0M $250.1M
YoY Change -3.23% 18.98%
Interest Expense $27.45M $31.60M
YoY Change -13.15% -5.19%
% of Operating Profit 11.34% 12.64%
Other Income/Expense, Net -$1.561M -$1.516M
YoY Change 2.97% -188.55%
Pretax Income $221.2M $217.0M
YoY Change 1.95% 21.51%
Income Tax $83.52M $83.60M
% Of Pretax Income 37.76% 38.53%
Net Earnings $137.7M $133.4M
YoY Change 3.24% 14.55%
Net Earnings / Revenue 11.74% 6.79%
Basic Earnings Per Share $1.35 $1.38
Diluted Earnings Per Share $1.35 $1.38
COMMON SHARES
Basic Shares Outstanding 101.7M shares 96.17M shares
Diluted Shares Outstanding 101.7M shares 96.18M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.00M $137.0M
YoY Change -29.93% 107.58%
Cash & Equivalents $95.53M $136.7M
Short-Term Investments
Other Short-Term Assets $67.13M $126.5M
YoY Change -46.91% -50.2%
Inventory $143.0M $125.0M
Prepaid Expenses
Receivables $511.8M $671.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $817.6M $1.059B
YoY Change -22.8% 5.66%
LONG-TERM ASSETS
Property, Plant & Equipment $7.026B $6.270B
YoY Change 12.06% 9.8%
Goodwill $742.0M $741.4M
YoY Change 0.09% 0.09%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $340.9M $417.1M
YoY Change -18.27% -16.61%
Total Long-Term Assets $8.109B $7.428B
YoY Change 9.16% 6.86%
TOTAL ASSETS
Total Short-Term Assets $817.6M $1.059B
Total Long-Term Assets $8.109B $7.428B
Total Assets $8.927B $8.488B
YoY Change 5.17% 6.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $296.0M $443.0M
YoY Change -33.18% 40.19%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $225.0M $0.00
YoY Change -100.0%
Long-Term Debt Due $500.0M
YoY Change
Total Short-Term Liabilities $1.019B $1.363B
YoY Change -25.3% 47.11%
LONG-TERM LIABILITIES
Long-Term Debt $2.455B $1.956B
YoY Change 25.53% -20.35%
Other Long-Term Liabilities $181.9M $40.97M
YoY Change 344.06% 3.88%
Total Long-Term Liabilities $2.637B $1.997B
YoY Change 32.07% -19.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.019B $1.363B
Total Long-Term Liabilities $2.637B $1.997B
Total Liabilities $3.656B $3.360B
YoY Change 8.79% -1.8%
SHAREHOLDERS EQUITY
Retained Earnings $1.075B $924.3M
YoY Change 16.33% 16.42%
Common Stock $2.193B $2.164B
YoY Change 1.34% 23.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.140B $3.125B
YoY Change
Total Liabilities & Shareholders Equity $8.927B $8.488B
YoY Change 5.17% 6.71%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $137.7M $133.4M
YoY Change 3.24% 14.55%
Depreciation, Depletion And Amortization $68.00M $61.30M
YoY Change 10.93% 5.51%
Cash From Operating Activities $513.4M $456.7M
YoY Change 12.42% 31.84%
INVESTING ACTIVITIES
Capital Expenditures -$180.3M -$178.4M
YoY Change 1.07% -10.4%
Acquisitions
YoY Change
Other Investing Activities -$600.0K $1.000M
YoY Change -160.0% -141.67%
Cash From Investing Activities -$180.9M -$177.5M
YoY Change 1.92% -11.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $390.2M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -360.8M -337.0M
YoY Change 7.06% 65.2%
NET CHANGE
Cash From Operating Activities 513.4M 456.7M
Cash From Investing Activities -180.9M -177.5M
Cash From Financing Activities -360.8M -337.0M
Net Change In Cash -28.30M -57.80M
YoY Change -51.04% -2.2%
FREE CASH FLOW
Cash From Operating Activities $513.4M $456.7M
Capital Expenditures -$180.3M -$178.4M
Free Cash Flow $693.7M $635.1M
YoY Change 9.23% 16.43%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Amendment Flag
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Period End Date
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dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
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dei Entity Current Reporting Status
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dei Entity Filer Category
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dei Entity Registrant Name
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dei Entity Voluntary Filers
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CY2015Q1 us-gaap Regulated And Unregulated Operating Revenue
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1540068000 USD
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
2798833000 USD
CY2014Q3 us-gaap Regulatory Assets
RegulatoryAssets
250309000 USD
CY2015Q1 us-gaap Regulatory Assets
RegulatoryAssets
230998000 USD
CY2014Q3 us-gaap Regulatory Liabilities
RegulatoryLiabilities
545759000 USD
CY2015Q1 us-gaap Regulatory Liabilities
RegulatoryLiabilities
646783000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
500000000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
917972000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1075177000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
0 shares
CY2014Q1 us-gaap Share Price
SharePrice
44.00
CY2014Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
196695000 USD
CY2015Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
224986000 USD
CY2014Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
9200000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
3086232000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
3139694000 USD
CY2014Q1 us-gaap Taxes Other
TaxesOther
60215000 USD
us-gaap Taxes Other
TaxesOther
102226000 USD
CY2015Q1 us-gaap Taxes Other
TaxesOther
69046000 USD
us-gaap Taxes Other
TaxesOther
118431000 USD
CY2014Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
334000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
572000 USD
CY2015Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
296000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
520000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96176000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94015000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101746000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101667000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96174000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
94013000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101746000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101667000 shares
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nature of Business</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Atmos Energy Corporation (&#8220;Atmos Energy&#8221; or the &#8220;Company&#8221;) and our subsidiaries are engaged primarily in the regulated natural gas distribution and pipeline businesses as well as other nonregulated natural gas businesses. Historically, our regulated businesses have generated over 90 percent of our consolidated net income.</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Through our regulated distribution business, we deliver natural gas through sales and transportation arrangements to approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three million</font><font style="font-family:inherit;font-size:10pt;"> residential, commercial, public authority and industrial customers through our </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">six</font><font style="font-family:inherit;font-size:10pt;"> regulated distribution divisions, which at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, covered service areas located in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">eight</font><font style="font-family:inherit;font-size:10pt;"> states. In addition, we transport natural gas for others through our distribution system. Our regulated businesses also include our regulated pipeline and storage operations, which include the transportation of natural gas to our North Texas distribution system and the management of our underground storage facilities. Our regulated businesses are subject to federal and state regulation and/or regulation by local authorities in each of the states in which our regulated distribution divisions operate.</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our nonregulated businesses operate primarily in the Midwest and Southeast through various wholly-owned subsidiaries of Atmos Energy Holdings, Inc. (AEH). AEH is wholly owned by the Company and based in Houston, Texas. Through AEH, we provide natural gas management and transportation services to municipalities, natural gas distribution companies, including certain divisions of Atmos Energy, and third parties.</font></div></div>

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