2014 Q4 Form 10-Q Financial Statement

#000003877715000010 Filed on January 30, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4
Revenue $2.064B $2.110B
YoY Change -2.14% 10.92%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $821.3M $864.1M
YoY Change -4.95% 7.39%
% of Gross Profit
Research & Development $51.20M $50.20M
YoY Change 1.99% 15.14%
% of Gross Profit
Depreciation & Amortization $24.90M $25.10M
YoY Change -0.8% 19.52%
% of Gross Profit
Operating Expenses $1.282B $1.296B
YoY Change -1.09% 6.55%
Operating Profit $782.0M $813.1M
YoY Change -3.82% 18.68%
Interest Expense $11.30M $12.60M
YoY Change -10.32% -13.1%
% of Operating Profit 1.45% 1.55%
Other Income/Expense, Net $40.40M $35.60M
YoY Change 13.48% 14.84%
Pretax Income $822.4M $848.7M
YoY Change -3.1% 18.52%
Income Tax $256.1M $252.7M
% Of Pretax Income 31.14% 29.77%
Net Earnings $566.4M $603.8M
YoY Change -6.19% 16.99%
Net Earnings / Revenue 27.44% 28.62%
Basic Earnings Per Share $0.91 $0.96
Diluted Earnings Per Share $0.91 $0.96
COMMON SHARES
Basic Shares Outstanding 620.1M shares 628.1M shares
Diluted Shares Outstanding 620.2M shares 628.5M shares

Balance Sheet

Concept 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.885B $6.700B
YoY Change 17.69% 27.79%
Cash & Equivalents $7.885B $6.700B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $927.0M $1.050B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.812B $7.750B
YoY Change 13.7% 26.0%
LONG-TERM ASSETS
Property, Plant & Equipment $523.4M $559.4M
YoY Change -6.44% -3.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $652.1M $589.1M
YoY Change 10.69% 18.13%
Other Assets $78.00M $119.0M
YoY Change -34.45% 25.26%
Total Long-Term Assets $7.485B $8.159B
YoY Change -8.27% -0.54%
TOTAL ASSETS
Total Short-Term Assets $8.812B $7.750B
Total Long-Term Assets $7.485B $8.159B
Total Assets $16.30B $15.91B
YoY Change 2.44% 10.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $194.0M $261.0M
YoY Change -25.67% 34.54%
Accrued Expenses $239.0M $251.0M
YoY Change -4.78% -51.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.032B $724.0M
YoY Change 42.54% -16.01%
LONG-TERM LIABILITIES
Long-Term Debt $2.100B $2.303B
YoY Change -8.81% -6.5%
Other Long-Term Liabilities $677.0M $1.374B
YoY Change -50.73% 17.84%
Total Long-Term Liabilities $2.777B $3.677B
YoY Change -24.48% 1.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.032B $724.0M
Total Long-Term Liabilities $2.777B $3.677B
Total Liabilities $4.068B $4.671B
YoY Change -12.9% -1.73%
SHAREHOLDERS EQUITY
Retained Earnings $11.67B $10.42B
YoY Change 11.98% 17.81%
Common Stock $62.20M $63.10M
YoY Change -1.43% 196.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.56B $10.51B
YoY Change
Total Liabilities & Shareholders Equity $16.30B $15.91B
YoY Change 2.44% 10.83%

Cashflow Statement

Concept 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $566.4M $603.8M
YoY Change -6.19% 16.99%
Depreciation, Depletion And Amortization $24.90M $25.10M
YoY Change -0.8% 19.52%
Cash From Operating Activities $572.4M $324.7M
YoY Change 76.29% 13.37%
INVESTING ACTIVITIES
Capital Expenditures $16.10M $15.00M
YoY Change 7.33% 21.95%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $106.6M $130.8M
YoY Change -18.5% 179.49%
Cash From Investing Activities $90.50M $115.8M
YoY Change -21.85% 235.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $151.2M $137.1M
YoY Change 10.28% -239.9%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$327.9M -$72.50M
YoY Change 352.28% -93.64%
NET CHANGE
Cash From Operating Activities $572.4M $324.7M
Cash From Investing Activities $90.50M $115.8M
Cash From Financing Activities -$327.9M -$72.50M
Net Change In Cash $335.0M $368.0M
YoY Change -8.97% -144.91%
FREE CASH FLOW
Cash From Operating Activities $572.4M $324.7M
Capital Expenditures $16.10M $15.00M
Free Cash Flow $556.3M $309.7M
YoY Change 79.63% 12.99%

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CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2014Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
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CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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CY2013Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2014Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2014Q4 us-gaap Fees And Commissions Transfer Agent
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CY2013Q4 us-gaap Income Loss From Equity Method Investments
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CY2014Q4 us-gaap Investments
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CY2013Q4 us-gaap Payments To Acquire Property Plant And Equipment
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CY2014Q4 us-gaap Preferred Stock Shares Issued
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CY2014Q4 us-gaap Preferred Stock Value
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CY2013Q4 us-gaap Profit Loss
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CY2014Q4 us-gaap Profit Loss
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CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q3 us-gaap Retained Earnings Appropriated
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CY2014Q4 us-gaap Retained Earnings Appropriated
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CY2013Q4 us-gaap Revenues
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CY2014Q4 us-gaap Revenues
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CY2013Q4 us-gaap Selling And Marketing Expense
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CY2014Q4 us-gaap Selling And Marketing Expense
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CY2013Q4 us-gaap Share Based Compensation
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CY2014Q4 us-gaap Share Based Compensation
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CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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52.80
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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41.88
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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55.69
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P2Y1M0D
CY2013Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
30000000 shares
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27100000 shares
CY2013Q4 us-gaap Stock Repurchased During Period Shares
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2500000 shares
CY2014Q4 us-gaap Stock Repurchased During Period Shares
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2700000 shares
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137100000 USD
CY2014Q4 us-gaap Stock Repurchased During Period Value
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151200000 USD
CY2014Q3 us-gaap Stockholders Equity
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CY2014Q4 us-gaap Stockholders Equity
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CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12212400000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12154500000 USD
CY2013Q3 us-gaap Temporary Equity Redemption Value
TemporaryEquityRedemptionValue
121800000 USD
CY2013Q4 us-gaap Temporary Equity Redemption Value
TemporaryEquityRedemptionValue
153800000 USD
CY2014Q3 us-gaap Temporary Equity Redemption Value
TemporaryEquityRedemptionValue
234800000 USD
CY2014Q4 us-gaap Temporary Equity Redemption Value
TemporaryEquityRedemptionValue
74000000 USD
CY2013Q4 us-gaap Trading Gains Losses
TradingGainsLosses
3400000 USD
CY2014Q4 us-gaap Trading Gains Losses
TradingGainsLosses
-3000000 USD
CY2014Q3 us-gaap Trading Securities
TradingSecurities
1277500000 USD
CY2014Q4 us-gaap Trading Securities
TradingSecurities
1270400000 USD
CY2013Q4 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
1900000 USD
CY2014Q4 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
-3000000 USD
CY2014Q4 us-gaap Unsecured Debt
UnsecuredDebt
1200000000 USD
CY2014Q3 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
251800000 USD
CY2014Q4 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
244700000 USD
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
628500000 shares
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
620200000 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
628100000 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
620100000 shares

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