2018 Q4 Form 10-Q Financial Statement

#000091591218000021 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $578.5M $576.0M $550.5M
YoY Change 4.18% 4.63% 6.64%
Cost Of Revenue $192.7M $193.5M $187.3M
YoY Change 6.0% 3.31% 5.76%
Gross Profit $385.8M $382.5M $363.2M
YoY Change 3.29% 5.31% 7.11%
Gross Profit Margin 66.69% 66.41% 65.98%
Selling, General & Admin $14.40M $14.70M $11.70M
YoY Change 21.01% 25.64% -1.68%
% of Gross Profit 3.73% 3.84% 3.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $158.9M $156.5M $145.0M
YoY Change 1.15% 7.96% 10.07%
% of Gross Profit 41.19% 40.92% 39.92%
Operating Expenses $173.3M $420.5M $392.5M
YoY Change 2.54% 7.14% 5.37%
Operating Profit $212.5M $384.4M $370.1M
YoY Change 3.91% 3.85% 7.22%
Interest Expense -$52.50M $54.10M $47.74M
YoY Change 0.77% 13.31% -0.27%
% of Operating Profit -24.71% 14.07% 12.9%
Other Income/Expense, Net
YoY Change
Pretax Income $385.4M $192.4M $238.2M
YoY Change 62.27% -19.22% -33.15%
Income Tax -$200.0K $29.00K $24.00K
% Of Pretax Income -0.05% 0.02% 0.01%
Net Earnings $385.6M $192.4M $238.2M
YoY Change 62.38% -19.22% -33.15%
Net Earnings / Revenue 66.66% 33.41% 43.27%
Basic Earnings Per Share $2.79 $1.39 $1.73
Diluted Earnings Per Share $2.79 $1.39 $1.72
COMMON SHARES
Basic Shares Outstanding 138.2M shares 137.8M shares 137.7M shares
Diluted Shares Outstanding 138.3M shares 138.3M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $92.00M $56.00M $36.00M
YoY Change 37.31% 55.56% -45.45%
Cash & Equivalents $91.66M $55.89M $36.04M
Short-Term Investments
Other Short-Term Assets $135.0M $197.0M $277.0M
YoY Change -46.64% -28.88% 20.96%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $227.0M $253.0M $313.0M
YoY Change -29.06% -19.17% 6.1%
LONG-TERM ASSETS
Property, Plant & Equipment $17.73B $17.93B $17.45B
YoY Change 0.07% 2.77% 3.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $217.0M $174.0M $155.0M
YoY Change 33.13% 12.26% -12.43%
Other Assets $174.0M $272.0M $230.0M
YoY Change -3.87% 18.26% 8.49%
Total Long-Term Assets $18.15B $18.41B $17.86B
YoY Change 0.32% 3.05% 3.3%
TOTAL ASSETS
Total Short-Term Assets $227.0M $253.0M $313.0M
Total Long-Term Assets $18.15B $18.41B $17.86B
Total Assets $18.38B $18.66B $18.18B
YoY Change -0.19% 2.66% 3.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $97.00M $92.00M $84.00M
YoY Change 14.12% 9.52% -16.0%
Accrued Expenses $344.0M $367.0M $367.0M
YoY Change -1.99% 0.0% -3.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $704.0M $724.0M $706.0M
YoY Change 1.88% 2.55% -2.22%
LONG-TERM LIABILITIES
Long-Term Debt $7.040B $7.533B $7.128B
YoY Change -3.94% 5.68% 4.58%
Other Long-Term Liabilities $0.00 $1.000M $1.000M
YoY Change 0.0% -75.0%
Total Long-Term Liabilities $7.040B $7.534B $7.129B
YoY Change -3.94% 5.68% 4.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $704.0M $724.0M $706.0M
Total Long-Term Liabilities $7.040B $7.534B $7.129B
Total Liabilities $7.744B $8.259B $7.835B
YoY Change -3.45% 5.4% 3.89%
SHAREHOLDERS EQUITY
Retained Earnings $350.8M $167.9M $144.6M
YoY Change 85.98% 16.11% 301.32%
Common Stock $1.385M $1.382M $1.381M
YoY Change 0.29% 0.07% 0.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.63B $10.40B $10.33B
YoY Change
Total Liabilities & Shareholders Equity $18.38B $18.66B $18.18B
YoY Change -0.19% 2.66% 3.35%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $385.6M $192.4M $238.2M
YoY Change 62.38% -19.22% -33.15%
Depreciation, Depletion And Amortization $158.9M $156.5M $145.0M
YoY Change 1.15% 7.96% 10.07%
Cash From Operating Activities $320.5M $355.3M $358.1M
YoY Change -0.62% -0.78% 16.46%
INVESTING ACTIVITIES
Capital Expenditures -$554.8M -$367.2M -$493.8M
YoY Change 1462.82% -25.64% -6.1%
Acquisitions
YoY Change
Other Investing Activities $453.6M $188.5M $122.8M
YoY Change -248.67% 53.5% -66.97%
Cash From Investing Activities -$101.2M -$178.8M -$371.1M
YoY Change -70.29% -51.82% 140.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -283.1M -244.8M -63.10M
YoY Change -9536.67% 287.96% -76.61%
NET CHANGE
Cash From Operating Activities 320.5M 355.3M 358.1M
Cash From Investing Activities -101.2M -178.8M -371.1M
Cash From Financing Activities -283.1M -244.8M -63.10M
Net Change In Cash -63.80M -68.30M -76.10M
YoY Change 322.52% -10.25% -34.62%
FREE CASH FLOW
Cash From Operating Activities $320.5M $355.3M $358.1M
Capital Expenditures -$554.8M -$367.2M -$493.8M
Free Cash Flow $875.3M $722.5M $851.9M
YoY Change 144.5% -15.19% 2.22%

Facts In Submission

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79999000 USD
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159754000 USD
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0 USD
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408890000 USD
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155150000 USD
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181120000 USD
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CY2017Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
181069000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
134818000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
225704000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
188609000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
167946000 USD
CY2017Q3 us-gaap Revenues
Revenues
550500000 USD
us-gaap Revenues
Revenues
1603337000 USD
CY2018Q3 us-gaap Revenues
Revenues
575982000 USD
us-gaap Revenues
Revenues
1706015000 USD
CY2017Q4 us-gaap Secured Debt
SecuredDebt
1476706000 USD
CY2018Q3 us-gaap Secured Debt
SecuredDebt
1323283000 USD
CY2017Q4 us-gaap Security Deposit
SecurityDeposit
32686000 USD
CY2018Q3 us-gaap Security Deposit
SecurityDeposit
34132000 USD
CY2017Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
58473000 USD
CY2018Q3 us-gaap Security Deposit Liability
SecurityDepositLiability
61059000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13979000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15617000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
60165 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
67963 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
2466 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
1713 shares
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
6613 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
4622 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5263 shares
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
452000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
290000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-10072000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
528000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
679000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10388046000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10397398000 USD
CY2017Q3 us-gaap Undistributed Earnings
UndistributedEarnings
237576000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
637554000 USD
CY2018Q3 us-gaap Undistributed Earnings
UndistributedEarnings
191931000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
587069000 USD
CY2017Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
672000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1794000 USD
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
555000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1722000 USD
CY2017Q4 us-gaap Unsecured Debt
UnsecuredDebt
5852764000 USD
CY2018Q3 us-gaap Unsecured Debt
UnsecuredDebt
6153945000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
584354 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
541399 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
466776 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
405148 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138307046 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138006192 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138323064 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
138230724 shares
CY2017Q3 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7500 shares
us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7500 shares
CY2018Q3 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7500 shares
us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7500 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137715192 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137457293 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137848788 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137818076 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to amounts in prior years' notes to financial statements to conform to current year presentations as a result of changes in held for sale classification, disposition activity and segment classification.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods.&#160; Actual results could differ from those estimates.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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