2014 Q2 Form 10-Q Financial Statement

#000110465914059306 Filed on August 11, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q4
Revenue $2.292B $2.007B $1.997B
YoY Change 4.06% 0.79% -5.55%
Cost Of Revenue $1.846B $1.613B $1.586B
YoY Change 2.64% -1.86% -8.29%
Gross Profit $445.5M $393.9M $346.1M
YoY Change 30.26% 38.16% 7.22%
Gross Profit Margin 19.44% 19.63% 17.33%
Selling, General & Admin $111.4M $107.7M $99.50M
YoY Change 8.26% -1.46% -1.49%
% of Gross Profit 25.01% 27.34% 28.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $59.10M $59.10M $76.30M
YoY Change -8.09% -7.37% 4.95%
% of Gross Profit 13.27% 15.0% 22.05%
Operating Expenses $111.4M $107.7M $175.8M
YoY Change 8.26% -1.46% 1.21%
Operating Profit $255.9M $286.2M $170.3M
YoY Change 25.75% 100.14% 14.22%
Interest Expense $40.60M $73.30M -$53.70M
YoY Change -45.43% 63.62% 17.76%
% of Operating Profit 15.87% 25.61% -31.53%
Other Income/Expense, Net $0.00 -$33.10M $0.00
YoY Change -100.0%
Pretax Income $215.3M $144.1M $191.5M
YoY Change 66.77% 46.74% 79.48%
Income Tax $60.20M $39.60M $56.60M
% Of Pretax Income 27.96% 27.48% 29.56%
Net Earnings $156.3M $104.9M $124.5M
YoY Change 57.72% 32.12% 105.45%
Net Earnings / Revenue 6.82% 5.23% 6.23%
Basic Earnings Per Share $1.10 $0.67 $0.87
Diluted Earnings Per Share $1.07 $0.65 $0.85
COMMON SHARES
Basic Shares Outstanding 139.0M shares 140.4M shares
Diluted Shares Outstanding 142.9M shares 144.1M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $155.0M $175.0M $416.0M
YoY Change -8.82% -15.87% 139.08%
Cash & Equivalents $155.3M $175.4M $416.0M
Short-Term Investments
Other Short-Term Assets $162.8M $171.4M $167.2M
YoY Change -27.87% -19.53% -14.69%
Inventory $1.028B $1.082B $1.028B
Prepaid Expenses
Receivables $998.0M $913.1M $798.9M
Other Receivables $75.50M $68.00M $60.50M
Total Short-Term Assets $2.420B $2.404B $2.471B
YoY Change -7.62% -8.33% 5.62%
LONG-TERM ASSETS
Property, Plant & Equipment $2.383B $2.360B $2.372B
YoY Change 3.35% 2.91% 4.2%
Goodwill $2.385B $2.394B $2.400B
YoY Change 2.15% 3.22% 1.91%
Intangibles $153.4M $159.8M $166.1M
YoY Change -12.99% -9.36% 1.96%
Long-Term Investments $36.00M $34.00M $34.00M
YoY Change 9.09% 6.25% 6.25%
Other Assets $583.2M $581.2M $577.5M
YoY Change 5.06% 7.57% 6.04%
Total Long-Term Assets $5.352B $5.341B $5.354B
YoY Change 2.99% 3.64% 3.61%
TOTAL ASSETS
Total Short-Term Assets $2.420B $2.404B $2.471B
Total Long-Term Assets $5.352B $5.341B $5.354B
Total Assets $7.771B $7.745B $7.820B
YoY Change -0.57% -0.4% 3.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.116B $969.9M $998.8M
YoY Change 17.45% 5.91% 5.48%
Accrued Expenses $217.0M $200.0M $241.0M
YoY Change 5.85% 1.52% -13.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $58.10M $55.70M $365.3M
YoY Change 28.54% -33.53% 250.91%
Total Short-Term Liabilities $1.974B $1.821B $1.927B
YoY Change 11.67% 4.5% 14.33%
LONG-TERM LIABILITIES
Long-Term Debt $3.129B $3.358B $3.183B
YoY Change -9.89% -1.4% 3.15%
Other Long-Term Liabilities $1.009B $292.3M $285.6M
YoY Change 360.31% 32.02% 37.37%
Total Long-Term Liabilities $3.129B $3.650B $3.468B
YoY Change -15.24% 0.64% 5.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.974B $1.821B $1.927B
Total Long-Term Liabilities $3.129B $3.650B $3.468B
Total Liabilities $6.365B $6.438B $6.404B
YoY Change -3.68% -1.23% 3.19%
SHAREHOLDERS EQUITY
Retained Earnings $4.158B $4.023B $3.948B
YoY Change 12.07% 10.71% 9.21%
Common Stock $1.106B $1.093B $1.078B
YoY Change 4.71% 4.44% 5.08%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.804B $3.746B $3.552B
YoY Change 13.64% 16.83% 13.1%
Treasury Stock Shares 192.7M shares 191.5M shares 188.1M shares
Shareholders Equity $1.207B $1.080B $1.225B
YoY Change
Total Liabilities & Shareholders Equity $7.771B $7.745B $7.820B
YoY Change -0.57% -0.41% 4.17%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income $156.3M $104.9M $124.5M
YoY Change 57.72% 32.12% 105.45%
Depreciation, Depletion And Amortization $59.10M $59.10M $76.30M
YoY Change -8.09% -7.37% 4.95%
Cash From Operating Activities $346.2M -$136.2M $427.7M
YoY Change 45.46% -58.04% -8.0%
INVESTING ACTIVITIES
Capital Expenditures $73.90M $61.40M $68.70M
YoY Change -34.25% -30.78% -29.97%
Acquisitions
YoY Change
Other Investing Activities $4.900M -$6.300M $11.20M
YoY Change 40.0% -178.75% -120.86%
Cash From Investing Activities -$69.00M -$55.10M -$57.50M
YoY Change -36.64% -49.59% -62.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $193.5M
YoY Change 194.07%
Debt Paid & Issued, Net $513.4M
YoY Change 362.11%
Cash From Financing Activities -298.9M -$45.10M -118.0M
YoY Change 82.93% -109.62% -62.79%
NET CHANGE
Cash From Operating Activities 346.2M -$136.2M 427.7M
Cash From Investing Activities -69.00M -$55.10M -57.50M
Cash From Financing Activities -298.9M -$45.10M -118.0M
Net Change In Cash -21.70M -$236.4M 252.2M
YoY Change -36.73% -773.5% -6405.0%
FREE CASH FLOW
Cash From Operating Activities $346.2M -$136.2M $427.7M
Capital Expenditures $73.90M $61.40M $68.70M
Free Cash Flow $272.3M -$197.6M $359.0M
YoY Change 116.8% -52.19% -2.13%

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CY2012 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
399100000 USD
CY2012 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.58
CY2012 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.52
CY2013 us-gaap Profit Loss
ProfitLoss
435000000 USD
CY2012 us-gaap Profit Loss
ProfitLoss
419300000 USD
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
79700000 USD
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-72300000 USD
CY2011 us-gaap Profit Loss
ProfitLoss
466300000 USD
CY2014Q1 us-gaap Other Assets Current
OtherAssetsCurrent
171400000 USD
CY2012Q4 us-gaap Other Assets Current
OtherAssetsCurrent
196000000 USD
CY2014Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
581200000 USD
CY2014Q1 us-gaap Assets
Assets
7745100000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
544600000 USD
CY2012Q4 us-gaap Deferred Income Taxes And Other Liabilities Noncurrent
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
197300000 USD
CY2014Q1 us-gaap Deferred Income Taxes And Other Liabilities Noncurrent
DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent
268200000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-362100000 USD
CY2014Q1 us-gaap Liabilities
Liabilities
6438300000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3614700000 USD
CY2012Q4 us-gaap Assets
Assets
7520700000 USD
CY2012Q4 us-gaap Liabilities
Liabilities
6206500000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1314200000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4023100000 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1306800000 USD
CY2014Q2 bll Sale Of Receivables Under Accounts Receivable Factoring Program Amount Maximum
SaleOfReceivablesUnderAccountsReceivableFactoringProgramAmountMaximum
236000000 USD
CY2014Q2 bll Uncommitted Amount Under Accounts Receivable Factoring Program
UncommittedAmountUnderAccountsReceivableFactoringProgram
18000000 USD
us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
1200000 USD
CY2012Q4 us-gaap Goodwill
Goodwill
2354800000 USD
CY2014Q1 us-gaap Goodwill
Goodwill
2394200000 USD

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