2016 Form 10-K Financial Statement

#000156459017002240 Filed on February 23, 2017

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q3
Revenue $10.16B $2.603B $2.487B
YoY Change 1.96% -6.67% -8.19%
Cost Of Revenue $6.047B $1.551B $1.453B
YoY Change 4.67% -9.4% -4.16%
Gross Profit $4.116B $1.072B $1.034B
YoY Change -1.79% -11.18% -13.33%
Gross Profit Margin 40.5% 41.18% 41.58%
Selling, General & Admin $2.725B $672.0M $794.0M
YoY Change -10.1% -17.24% -3.99%
% of Gross Profit 66.21% 62.69% 76.79%
Research & Development $646.0M $160.0M $148.0M
YoY Change 10.05% 3.9% -0.67%
% of Gross Profit 15.69% 14.93% 14.31%
Depreciation & Amortization $800.0M $166.0M $216.0M
YoY Change 5.4% -59.81% 109.71%
% of Gross Profit 19.44% 15.49% 20.89%
Operating Expenses $3.371B $832.0M $942.0M
YoY Change -6.83% -13.87% -3.48%
Operating Profit $745.0M $240.0M $92.00M
YoY Change 30.02% -0.41% -57.6%
Interest Expense $89.00M -$12.00M $38.00M
YoY Change -39.04% -58.62% 5.56%
% of Operating Profit 11.95% -5.0% 41.3%
Other Income/Expense, Net $1.024B $36.00M -$91.00M
YoY Change -3.58% -176.6% -668.75%
Pretax Income $4.954B $205.0M -$33.00M
YoY Change 1057.48% 88.07% -116.34%
Income Tax -$12.00M $22.00M -$35.00M
% Of Pretax Income -0.24% 10.73%
Net Earnings $4.965B $205.0M $1.000M
YoY Change 412.91% -78.49% -99.79%
Net Earnings / Revenue 48.85% 7.88% 0.04%
Basic Earnings Per Share $9.09 $0.37 $0.00
Diluted Earnings Per Share $9.01 $0.37 $0.00
COMMON SHARES
Basic Shares Outstanding 546.0M 547.0M shares 546.0M shares
Diluted Shares Outstanding 551.0M 549.0M shares

Balance Sheet

Concept 2016 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.801B $7.361B $6.126B
YoY Change -61.95% 151.66% 194.8%
Cash & Equivalents $2.801B $2.213B $1.970B
Short-Term Investments $0.00 $5.148B $4.156B
Other Short-Term Assets $652.0M $435.0M $1.544B
YoY Change -40.73% 14.47% 53.33%
Inventory $1.430B $1.604B $1.696B
Prepaid Expenses
Receivables $1.691B $1.731B $1.772B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.574B $11.80B $11.14B
YoY Change -44.27% 16.08% 15.65%
LONG-TERM ASSETS
Property, Plant & Equipment $4.289B $4.386B $4.338B
YoY Change -2.21% -1.08% -48.65%
Goodwill $2.687B $2.720B
YoY Change -8.2% -32.27%
Intangibles $1.349B $1.408B
YoY Change -16.73% -35.56%
Long-Term Investments
YoY Change
Other Assets $977.0M $744.0M $568.0M
YoY Change 31.32% -20.0% -55.73%
Total Long-Term Assets $8.972B $9.166B $9.034B
YoY Change -2.12% -42.63% -43.3%
TOTAL ASSETS
Total Short-Term Assets $6.574B $11.80B $11.14B
Total Long-Term Assets $8.972B $9.166B $9.034B
Total Assets $15.55B $20.96B $20.17B
YoY Change -25.84% -19.8% -21.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $791.0M $2.664B $2.998B
YoY Change -70.31% 0.38% -32.75%
Accrued Expenses $1.090B
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $1.775B $1.962B
YoY Change -100.0% 94.41% 400.51%
Long-Term Debt Due $3.000M $810.0M $976.0M
YoY Change -99.63% 3.18% -13.09%
Total Short-Term Liabilities $2.744B $5.750B $5.981B
YoY Change -52.28% -4.75% -0.15%
LONG-TERM LIABILITIES
Long-Term Debt $2.779B $3.922B $3.791B
YoY Change -29.14% -46.5% -51.1%
Other Long-Term Liabilities $1.650B $2.425B $2.555B
YoY Change -31.96% -17.43% -24.72%
Total Long-Term Liabilities $4.429B $2.425B $2.555B
YoY Change -30.22% -17.43% -24.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.744B $5.750B $5.981B
Total Long-Term Liabilities $4.429B $2.425B $2.555B
Total Liabilities $7.256B $8.175B $8.536B
YoY Change -40.11% -8.9% -9.04%
SHAREHOLDERS EQUITY
Retained Earnings $9.683B $9.578B
YoY Change -26.79% -23.76%
Common Stock $6.585B $6.560B
YoY Change 0.75% 0.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.646B $7.697B
YoY Change -4.34% -3.84%
Treasury Stock Shares $135.8M 136.7M shares
Shareholders Equity $8.290B $8.846B $7.824B
YoY Change
Total Liabilities & Shareholders Equity $15.55B $20.96B $20.17B
YoY Change -25.84% -19.8% -21.09%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $4.965B $205.0M $1.000M
YoY Change 412.91% -78.49% -99.79%
Depreciation, Depletion And Amortization $800.0M $166.0M $216.0M
YoY Change 5.4% -59.81% 109.71%
Cash From Operating Activities $1.654B $724.0M $255.0M
YoY Change -6.61% -36.66% -72.1%
INVESTING ACTIVITIES
Capital Expenditures -$719.0M -$253.0M -$234.0M
YoY Change -21.08% -80.14% -206.36%
Acquisitions $48.00M
YoY Change 41.18%
Other Investing Activities $4.000M $21.00M $19.00M
YoY Change -100.45% -98.36% -102.26%
Cash From Investing Activities -$715.0M -$232.0M -$215.0M
YoY Change -60.43% -7833.33% -65.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $292.0M
YoY Change
Debt Paid & Issued, Net $1.381B
YoY Change -63.52%
Cash From Financing Activities -324.0M -228.0M -4.709B
YoY Change -32.64% -17.09% 8461.82%
NET CHANGE
Cash From Operating Activities 1.654B 724.0M 255.0M
Cash From Investing Activities -715.0M -232.0M -215.0M
Cash From Financing Activities -324.0M -228.0M -4.709B
Net Change In Cash 615.0M 264.0M -4.669B
YoY Change -218.96% -69.69% -2045.42%
FREE CASH FLOW
Cash From Operating Activities $1.654B $724.0M $255.0M
Capital Expenditures -$719.0M -$253.0M -$234.0M
Free Cash Flow $2.373B $977.0M $489.0M
YoY Change -11.52% -59.58% -29.54%

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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the financial statements in conformity with generally accepted accounting principles (GAAP) requires the company to make estimates and assumptions that affect reported amounts and related disclosures. Actual results could differ from those estimates.</p></div>
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169000000
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118000000
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114000000
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390000000
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90000000
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125000000
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0.40
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65000000
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73000000
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144000000
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33000000
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SalesRevenueNet
2603000000
CY2015Q1 us-gaap Gross Profit
GrossProfit
1019000000
CY2015Q2 us-gaap Gross Profit
GrossProfit
1021000000
CY2015Q3 us-gaap Gross Profit
GrossProfit
1034000000
CY2015Q4 us-gaap Gross Profit
GrossProfit
1072000000
CY2015Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
134000000
CY2015Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
74000000
CY2015Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
2000000
CY2015Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
183000000
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.25
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.00
CY2015Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.33
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.24
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.13
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.00
CY2015Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.33
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
296000000
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
258000000
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1000000
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
22000000
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.54
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.47
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.04
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.54
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.47
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.04
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
430000000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
332000000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
1000000
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
205000000
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.79
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.61
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2015Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.52
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.52
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.115
CY2015Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.115
CY2016Q1 bax Business Optimization Acquisition Collaboration Arrangement Payments And Other Benefits
BusinessOptimizationAcquisitionCollaborationArrangementPaymentsAndOtherBenefits
3100000000
CY2016Q2 bax Business Optimization Acquisition Collaboration Arrangement Payments And Other Benefits
BusinessOptimizationAcquisitionCollaborationArrangementPaymentsAndOtherBenefits
1000000000
CY2016Q3 bax Business Optimization Acquisition Collaboration Arrangement Payments And Other Charges
BusinessOptimizationAcquisitionCollaborationArrangementPaymentsAndOtherCharges
155000000
CY2016Q4 bax Business Optimization Acquisition Collaboration Arrangement Payments And Other Charges
BusinessOptimizationAcquisitionCollaborationArrangementPaymentsAndOtherCharges
47000000
CY2015Q1 bax Business Optimization Acquisition Collaboration Arrangement Payments And Other Charges
BusinessOptimizationAcquisitionCollaborationArrangementPaymentsAndOtherCharges
29000000
CY2015Q3 bax Business Optimization Acquisition Collaboration Arrangement Payments And Other Charges
BusinessOptimizationAcquisitionCollaborationArrangementPaymentsAndOtherCharges
191000000
CY2015Q4 bax Business Optimization Acquisition Collaboration Arrangement Payments And Other Charges
BusinessOptimizationAcquisitionCollaborationArrangementPaymentsAndOtherCharges
17000000
CY2015Q2 bax Business Optimization Acquisition Collaboration Arrangement Payments And Other Benefits
BusinessOptimizationAcquisitionCollaborationArrangementPaymentsAndOtherBenefits
5000000

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