2011 Q1 Form 10-Q Financial Statement

#000095012311045348 Filed on May 05, 2011

View on sec.gov

Income Statement

Concept 2011 Q1 2010 Q1
Revenue $1.556B $2.047B
YoY Change -23.96% 12.37%
Cost Of Revenue $1.152B $1.486B
YoY Change -22.44% 9.15%
Gross Profit $444.5M $445.4M
YoY Change -0.22% -3.16%
Gross Profit Margin 28.56% 21.76%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.10M $53.10M
YoY Change 7.53% -0.75%
% of Gross Profit 12.85% 11.92%
Operating Expenses $242.5M $229.8M
YoY Change 5.52% -1.59%
Operating Profit $204.6M $219.8M
YoY Change -6.89% -2.98%
Interest Expense $37.88M $39.58M
YoY Change -4.31% -211.5%
% of Operating Profit 18.51% 18.01%
Other Income/Expense, Net $26.20M $49.00K
YoY Change 53373.47% -103.06%
Pretax Income $199.5M $185.0M
YoY Change 7.85% -2.32%
Income Tax $71.37M $70.88M
% Of Pretax Income 35.77% 38.31%
Net Earnings $132.2M $114.1M
YoY Change 15.84% -11.53%
Net Earnings / Revenue 8.49% 5.58%
Basic Earnings Per Share $1.45 $1.22
Diluted Earnings Per Share $1.45 $1.22
COMMON SHARES
Basic Shares Outstanding 90.25M shares 92.52M shares
Diluted Shares Outstanding 90.53M shares 92.85M shares

Balance Sheet

Concept 2011 Q1 2010 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.0M $231.0M
YoY Change -33.77% -52.07%
Cash & Equivalents $153.2M $231.2M
Short-Term Investments
Other Short-Term Assets $144.0M $121.0M
YoY Change 18.99% -11.68%
Inventory $228.0M $209.0M
Prepaid Expenses
Receivables $458.8M $546.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $984.1M $1.107B
YoY Change -11.1% -25.15%
LONG-TERM ASSETS
Property, Plant & Equipment $4.915B $4.590B
YoY Change 7.07% 7.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $357.3M $316.0M
YoY Change 13.05% 54.15%
Total Long-Term Assets $6.012B $5.646B
YoY Change 6.48% 8.43%
TOTAL ASSETS
Total Short-Term Assets $984.1M $1.107B
Total Long-Term Assets $6.012B $5.646B
Total Assets $6.996B $6.753B
YoY Change 3.6% 1.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $424.0M $522.0M
YoY Change -18.77% 10.59%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $352.4M $10.00M
YoY Change 3424.34% -97.5%
Total Short-Term Liabilities $1.078B $965.0M
YoY Change 11.71% -24.96%
LONG-TERM LIABILITIES
Long-Term Debt $1.807B $2.159B
YoY Change -16.29% -0.46%
Other Long-Term Liabilities $427.2M $696.0M
YoY Change -38.62% 18.97%
Total Long-Term Liabilities $2.235B $2.855B
YoY Change -21.73% 3.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.078B $965.0M
Total Long-Term Liabilities $2.235B $2.855B
Total Liabilities $3.313B $4.414B
YoY Change -24.95% -2.06%
SHAREHOLDERS EQUITY
Retained Earnings $631.0M
YoY Change
Common Stock $1.729B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.374B $2.339B
YoY Change
Total Liabilities & Shareholders Equity $6.996B $6.753B
YoY Change 3.6% 1.0%

Cashflow Statement

Concept 2011 Q1 2010 Q1
OPERATING ACTIVITIES
Net Income $132.2M $114.1M
YoY Change 15.84% -11.53%
Depreciation, Depletion And Amortization $57.10M $53.10M
YoY Change 7.53% -0.75%
Cash From Operating Activities $392.7M $388.3M
YoY Change 1.13% -16.3%
INVESTING ACTIVITIES
Capital Expenditures -$123.5M -$117.2M
YoY Change 5.38% 2.9%
Acquisitions
YoY Change
Other Investing Activities -$1.100M $1.000M
YoY Change -210.0% -137.04%
Cash From Investing Activities -$124.7M -$116.3M
YoY Change 7.22% -0.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -244.6M -215.7M
YoY Change 13.4% -431.34%
NET CHANGE
Cash From Operating Activities 392.7M 388.3M
Cash From Investing Activities -124.7M -116.3M
Cash From Financing Activities -244.6M -215.7M
Net Change In Cash 23.40M 56.30M
YoY Change -58.44% -86.34%
FREE CASH FLOW
Cash From Operating Activities $392.7M $388.3M
Capital Expenditures -$123.5M -$117.2M
Free Cash Flow $516.2M $505.5M
YoY Change 2.12% -12.51%

Facts In Submission

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946000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-233575000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
21294000 USD
CY2009Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
111203000 USD
CY2010Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
231153000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
96000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
44097000 USD
us-gaap Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities Other
AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther
11759000 USD
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
-111897000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
483458000 USD
ato Net Assets Liabilities From Risk Management Activities
NetAssetsLiabilitiesFromRiskManagementActivities
-17478000 USD
ato Net Assets Liabilities From Risk Management Activities
NetAssetsLiabilitiesFromRiskManagementActivities
1234000 USD
ato Repurchase Of Equity Awards
RepurchaseOfEquityAwards
3333000 USD
ato Repurchase Of Equity Awards
RepurchaseOfEquityAwards
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7568000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8590000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
27803000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Nature Of Operations
NatureOfOperations
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:12pt;font-weight:bold;margin-left:0px;">1. Nature of Business</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:12pt;margin-left:0px;">Atmos Energy Corporation </font><font style="font-family:Times New Roman;font-size:12pt;">(&#8220;Atmos Energy&#8221; or the &#8220;Company&#8221;) </font><font style="font-family:Times New Roman;font-size:12pt;">and our subsidiaries are engaged primarily in the regulated natural gas distribution and transmission and storage businesses as well as certain other nonregulated businesses. </font><font style="font-family:Times New Roman;font-size:12pt;">Our corporate headquarters and shared-services function are located in Dallas, Texas and our customer support centers are located in Amarillo and Waco, Texas</font><font style="font-family:Times New Roman;font-size:12pt;">. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:12pt;margin-left:0px;">Through our natural gas distribution business, we deliver natural gas through sales and transportation arrangements to over three million residential, commercial, public authority and industrial customers through our six regulated natural gas distribution divisions which cover service areas located in 12 states. In addition, we transport natural gas for others through our distribution system. Our regulated activities also include our regulated pipeline and storage operations, which include the transportation of natural gas to our 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 natural gas distribution divisions operate. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:12pt;margin-left:0px;">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. AEH also seeks to maximize, through asset optimization activities, the economic value associated with storage and transportation capacity it owns or controls. Certain of these arrangements are with regulated affiliates of the Company, which have been approved by applicable state regulatory commissions. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:12pt;margin-left:0px;">As discussed in Note 10, we operate the Company through the following three segments: </font></p><p style='margin-top:5pt; margin-bottom:5pt'></p><ul><li style="margin-left:36px;list-style:disc;"><font style="font-family:Times New Roman;font-size:12pt;">the </font><font style="font-family:Times New Roman;font-size:12pt;font-style:italic;">natural gas distribution segment</font><font style="font-family:Times New Roman;font-size:12pt;">, which includes our regulated natural gas distribution and related sales operations,</font></li><li style="margin-left:36px;list-style:disc;"><font style="font-family:Times New Roman;font-size:12pt;">the </font><font style="font-family:Times New Roman;font-size:12pt;font-style:italic;">regulated transmission and storage segment</font><font style="font-family:Times New Roman;font-size:12pt;">, which includes the regulated pipeline and storage operations of our Atmos Pipeline &#8212; Texas Division and</font></li><li style="margin-left:36px;list-style:disc;"><font style="font-family:Times New Roman;font-size:12pt;">the </font><font style="font-family:Times New Roman;font-size:12pt;font-style:italic;">nonregulated segment</font><font style="font-family:Times New Roman;font-size:12pt;">, which includes our nonregulated natural gas management, nonregulated natural gas transmission, storage and other services.</font></li></ul>

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