2015 Q2 Form 10-Q Financial Statement

#000112297615000018 Filed on July 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $887.1M $1.006B
YoY Change -11.78% -3.09%
Cost Of Revenue $701.4M $821.0M
YoY Change -14.57% -1.55%
Gross Profit $185.7M $184.5M
YoY Change 0.65% -9.43%
Gross Profit Margin 20.93% 18.35%
Selling, General & Admin $105.4M $135.1M
YoY Change -21.98% 9.84%
% of Gross Profit 56.76% 73.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.00M $39.40M
YoY Change -36.55% 52.12%
% of Gross Profit 13.46% 21.36%
Operating Expenses $105.4M $135.1M
YoY Change -21.98% 9.84%
Operating Profit $80.30M $49.40M
YoY Change 62.55% -38.79%
Interest Expense $16.20M $15.70M
YoY Change 3.18% -5.42%
% of Operating Profit 20.17% 31.78%
Other Income/Expense, Net -$700.0K -$400.0K
YoY Change 75.0% -66.67%
Pretax Income $63.40M $33.30M
YoY Change 90.39% -47.06%
Income Tax -$3.600M $2.600M
% Of Pretax Income -5.68% 7.81%
Net Earnings $66.80M $31.70M
YoY Change 110.73% -82.48%
Net Earnings / Revenue 7.53% 3.15%
Basic Earnings Per Share $0.75 $0.34
Diluted Earnings Per Share $0.74 $0.34
COMMON SHARES
Basic Shares Outstanding 88.90M shares 93.00M shares
Diluted Shares Outstanding 89.80M shares 94.30M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $236.8M $261.5M
YoY Change -9.45% -33.36%
Cash & Equivalents $236.8M $261.5M
Short-Term Investments
Other Short-Term Assets $83.50M $100.5M
YoY Change -16.92% 36.55%
Inventory $300.9M $315.7M
Prepaid Expenses
Receivables $431.7M $501.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.053B $1.179B
YoY Change -10.7% -13.01%
LONG-TERM ASSETS
Property, Plant & Equipment $581.8M $612.3M
YoY Change -4.98% -6.48%
Goodwill $591.8M $568.9M
YoY Change 4.03% 3.53%
Intangibles $350.9M $354.5M
YoY Change -1.02% -5.74%
Long-Term Investments
YoY Change
Other Assets $115.3M $132.0M
YoY Change -12.65% -4.14%
Total Long-Term Assets $1.640B $1.668B
YoY Change -1.67% -2.93%
TOTAL ASSETS
Total Short-Term Assets $1.053B $1.179B
Total Long-Term Assets $1.640B $1.668B
Total Assets $2.693B $2.847B
YoY Change -5.41% -7.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $396.9M $422.5M
YoY Change -6.06% 1.71%
Accrued Expenses $136.5M $170.8M
YoY Change -20.08% -33.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $61.80M $12.70M
YoY Change 386.61% 45.98%
Total Short-Term Liabilities $595.2M $606.0M
YoY Change -1.78% -11.09%
LONG-TERM LIABILITIES
Long-Term Debt $996.4M $967.9M
YoY Change 2.94% -5.34%
Other Long-Term Liabilities $155.6M $182.4M
YoY Change -14.69% 78.47%
Total Long-Term Liabilities $1.298B $1.328B
YoY Change -2.27% -4.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $595.2M $606.0M
Total Long-Term Liabilities $1.298B $1.328B
Total Liabilities $1.893B $1.934B
YoY Change -2.12% -6.93%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $798.8M $911.7M
YoY Change
Total Liabilities & Shareholders Equity $2.693B $2.847B
YoY Change -5.41% -7.38%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $66.80M $31.70M
YoY Change 110.73% -82.48%
Depreciation, Depletion And Amortization $25.00M $39.40M
YoY Change -36.55% 52.12%
Cash From Operating Activities $117.7M $118.7M
YoY Change -0.84% 79.03%
INVESTING ACTIVITIES
Capital Expenditures -$24.00M -$20.50M
YoY Change 17.07% 48.55%
Acquisitions
YoY Change
Other Investing Activities $800.0K $500.0K
YoY Change 60.0% -99.8%
Cash From Investing Activities -$23.20M -$20.00M
YoY Change 16.0% -108.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -84.60M -75.50M
YoY Change 12.05% -5.15%
NET CHANGE
Cash From Operating Activities 117.7M 118.7M
Cash From Investing Activities -23.20M -20.00M
Cash From Financing Activities -84.60M -75.50M
Net Change In Cash 9.900M 23.20M
YoY Change -57.33% -89.62%
FREE CASH FLOW
Cash From Operating Activities $117.7M $118.7M
Capital Expenditures -$24.00M -$20.50M
Free Cash Flow $141.7M $139.2M
YoY Change 1.8% 73.78%

Facts In Submission

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CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
362700000 USD
CY2015Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
350900000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
15700000 USD
us-gaap Interest Expense
InterestExpense
31200000 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
16200000 USD
us-gaap Interest Expense
InterestExpense
32300000 USD
CY2014Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
187800000 USD
CY2015Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
184800000 USD
CY2014Q4 us-gaap Inventory Net
InventoryNet
309000000 USD
CY2015Q2 us-gaap Inventory Net
InventoryNet
300900000 USD
CY2014Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
117100000 USD
CY2015Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
111300000 USD
CY2014Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4100000 USD
CY2015Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4800000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2711200000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2692700000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
601200000 USD
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
595200000 USD
CY2014Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1332800000 USD
CY2015Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1297600000 USD
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
1023800000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
43800000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
59900000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
31700000 USD
us-gaap Net Income Loss
NetIncomeLoss
61100000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
66800000 USD
us-gaap Net Income Loss
NetIncomeLoss
97000000 USD
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-200000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-400000 USD
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
200000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
200000 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-400000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1400000 USD
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-700000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1400000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5 segment
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
49400000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
105800000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
80300000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
150400000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
98300000 USD
CY2015Q2 us-gaap Other Assets Current
OtherAssetsCurrent
83500000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
118500000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
115300000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
1100000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
400000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
3300000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-14600000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
0 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
400000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
400000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
178300000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
155600000 USD
CY2014Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
13500000 USD
CY2015Q2 us-gaap Other Long Term Debt
OtherLongTermDebt
13500000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
119900000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
42800000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
15100000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
17900000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
38000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
39100000 USD
CY2014Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
103700000 USD
CY2015Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
74700000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
20900000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
515600000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
31500000 USD
us-gaap Profit Loss
ProfitLoss
60700000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
8800000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94900000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89900000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93000000 shares
CY2015Q2 us-gaap Profit Loss
ProfitLoss
67000000 USD
us-gaap Profit Loss
ProfitLoss
97200000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1435600000 USD
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1446700000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
596700000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
581800000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
300000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
20900000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
481200000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
8000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2014Q2 us-gaap Restructuring Charges
RestructuringCharges
35100000 USD
us-gaap Restructuring Charges
RestructuringCharges
53000000 USD
CY2015Q2 us-gaap Restructuring Charges
RestructuringCharges
7500000 USD
us-gaap Restructuring Charges
RestructuringCharges
18100000 USD
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1005500000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2007800000 USD
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
887100000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1760200000 USD
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
135100000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
266900000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
105400000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
205100000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10100000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4200000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
8300000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
300000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
776300000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
798800000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
978500000 USD
CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
913000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
777200000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
799900000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
119900000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
42800000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93700000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89100000 shares

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