2019 Q1 Form 10-Q Financial Statement

#000001079519000022 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $4.195B $4.222B
YoY Change -0.64% 42.2%
Cost Of Revenue $2.221B $2.616B
YoY Change -15.1% 70.2%
Gross Profit $1.974B $1.606B
YoY Change 22.91% 12.15%
Gross Profit Margin 47.06% 38.04%
Selling, General & Admin $1.089B $1.056B
YoY Change 3.13% 45.86%
% of Gross Profit 55.17% 65.75%
Research & Development $252.0M $259.0M
YoY Change -2.7% 38.5%
% of Gross Profit 12.77% 16.13%
Depreciation & Amortization $563.0M $553.0M
YoY Change 1.81% 111.88%
% of Gross Profit 28.52% 34.43%
Operating Expenses $1.341B $1.315B
YoY Change 1.98% 44.35%
Operating Profit $136.0M $186.0M
YoY Change -26.88% -58.3%
Interest Expense $171.0M $185.0M
YoY Change -7.57% 115.12%
% of Operating Profit 125.74% 99.46%
Other Income/Expense, Net $20.00M $1.000M
YoY Change 1900.0% -120.0%
Pretax Income $3.000M $6.000M
YoY Change -50.0% -98.34%
Income Tax -$17.00M $18.00M
% Of Pretax Income -566.67% 300.0%
Net Earnings $20.00M -$12.00M
YoY Change -266.67% -103.49%
Net Earnings / Revenue 0.48% -0.28%
Basic Earnings Per Share -$0.07 -$0.19
Diluted Earnings Per Share -$0.07 -$0.19
COMMON SHARES
Basic Shares Outstanding 269.9M shares 267.3M shares
Diluted Shares Outstanding 269.9M shares 267.3M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $696.0M $1.267B
YoY Change -45.07% 127.88%
Cash & Equivalents $686.0M $1.251B
Short-Term Investments $10.00M $16.00M
Other Short-Term Assets $1.161B $1.241B
YoY Change -6.45% 86.9%
Inventory $2.627B $2.543B
Prepaid Expenses
Receivables $2.279B $2.293B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.844B $7.512B
YoY Change -8.89% 53.59%
LONG-TERM ASSETS
Property, Plant & Equipment $5.473B $5.411B
YoY Change 1.15% 37.3%
Goodwill $23.51B $23.49B
YoY Change 0.09% 217.23%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.061B $1.159B
YoY Change -8.46% 22.26%
Total Long-Term Assets $45.75B $47.06B
YoY Change -2.78% 144.73%
TOTAL ASSETS
Total Short-Term Assets $6.844B $7.512B
Total Long-Term Assets $45.75B $47.06B
Total Assets $52.60B $54.57B
YoY Change -3.62% 126.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.050B $4.224B
YoY Change -4.12% 51.67%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.057B $202.0M
YoY Change 1413.37% -83.5%
Total Short-Term Liabilities $7.108B $4.426B
YoY Change 60.6% 10.15%
LONG-TERM LIABILITIES
Long-Term Debt $17.56B $22.59B
YoY Change -22.28% 148.72%
Other Long-Term Liabilities $5.810B $5.233B
YoY Change 11.03% 207.46%
Total Long-Term Liabilities $23.37B $27.82B
YoY Change -16.02% 157.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.108B $4.426B
Total Long-Term Liabilities $23.37B $27.82B
Total Liabilities $30.47B $32.25B
YoY Change -5.5% 117.86%
SHAREHOLDERS EQUITY
Retained Earnings $12.79B $12.62B
YoY Change 1.4% -5.29%
Common Stock $16.52B $16.52B
YoY Change 0.04% 225.46%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.192B $6.300B
YoY Change -1.71% -25.4%
Treasury Stock Shares
Shareholders Equity $21.31B $21.15B
YoY Change
Total Liabilities & Shareholders Equity $52.60B $54.57B
YoY Change -3.62% 126.25%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $20.00M -$12.00M
YoY Change -266.67% -103.49%
Depreciation, Depletion And Amortization $563.0M $553.0M
YoY Change 1.81% 111.88%
Cash From Operating Activities $783.0M $697.0M
YoY Change 12.34% -3.86%
INVESTING ACTIVITIES
Capital Expenditures -$195.0M -$213.0M
YoY Change -8.45% 33.13%
Acquisitions
YoY Change
Other Investing Activities -$74.00M $43.00M
YoY Change -272.09% -200.0%
Cash From Investing Activities -$269.0M -$170.0M
YoY Change 58.24% -16.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -798.0M -373.0M
YoY Change 113.94% -58.83%
NET CHANGE
Cash From Operating Activities 783.0M 697.0M
Cash From Investing Activities -269.0M -170.0M
Cash From Financing Activities -798.0M -373.0M
Net Change In Cash -284.0M 154.0M
YoY Change -284.42% -140.1%
FREE CASH FLOW
Cash From Operating Activities $783.0M $697.0M
Capital Expenditures -$195.0M -$213.0M
Free Cash Flow $978.0M $910.0M
YoY Change 7.47% 2.82%

Facts In Submission

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us-gaap Operating Income Loss
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0 USD
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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90000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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30000000 USD
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us-gaap Other Operating Income Expense Net
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0 USD
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us-gaap Other Operating Income Expense Net
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90000000 USD
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us-gaap Payments For Proceeds From Short Term Investments
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us-gaap Payments Of Dividends
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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15006000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
391000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
362000000 USD
CY2018Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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1056000000 USD
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815000000 USD
CY2018Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
38000000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
76000000 USD
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
38000000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
76000000 USD
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CY2019Q1 us-gaap Preferred Stock Value
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Divestiture Of Businesses
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3622000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Repayments Of Short Term Debt
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380000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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CY2018Q3 us-gaap Property Plant And Equipment Gross
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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905000000 USD
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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
451000000 USD
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
252000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
510000000 USD
CY2018Q3 us-gaap Restricted Cash And Investments Current
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96000000 USD
CY2019Q1 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
81000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
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12596000000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
12792000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P3Y
CY2018Q1 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
7302000000 USD
CY2019Q1 us-gaap Revenues
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us-gaap Revenues
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CY2018Q1 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
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2161000000 USD
us-gaap Share Based Compensation
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207000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
152000000 USD
CY2018Q3 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Stockholders Equity
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CY2018Q3 us-gaap Treasury Stock Value
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CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
6192000000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4975000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
248484000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
269882000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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274429000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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267341000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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248484000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
269882000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
269454000 shares

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