2017 Q3 Form 10-Q Financial Statement

#000003877717000226 Filed on July 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $1.617B $1.614B $1.634B
YoY Change 0.32% -1.25% -18.32%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.059B $622.7M $628.4M
YoY Change 2.6% -0.91% -19.28%
% of Gross Profit
Research & Development $54.10M $50.50M
YoY Change 7.13% -13.38%
% of Gross Profit
Depreciation & Amortization $18.00M $21.80M $19.40M
YoY Change -15.49% 12.37% -16.38%
% of Gross Profit
Operating Expenses $1.059B $1.050B $1.039B
YoY Change 2.6% 1.04% -15.61%
Operating Profit $564.2M $595.4M
YoY Change -5.24% -22.66%
Interest Expense $93.30M $12.90M $12.30M
YoY Change 129.8% 4.88% -10.22%
% of Operating Profit 2.29% 2.07%
Other Income/Expense, Net $7.400M $79.30M $53.50M
YoY Change -56.98% 48.22% -390.76%
Pretax Income $658.4M $643.5M $648.9M
YoY Change 3.47% -0.83% -13.64%
Income Tax $181.9M $184.1M $187.4M
% Of Pretax Income 27.63% 28.61% 28.88%
Net Earnings $425.2M $410.6M $446.4M
YoY Change -9.93% -8.02% -11.46%
Net Earnings / Revenue 26.3% 25.44% 27.31%
Basic Earnings Per Share $0.73 $0.77
Diluted Earnings Per Share $767.9K $0.73 $0.77
COMMON SHARES
Basic Shares Outstanding 557.7M shares 556.2M shares 578.9M shares
Diluted Shares Outstanding 556.7M shares 578.9M shares

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.750B $8.786B $8.242B
YoY Change 3.15% 6.6% -2.18%
Cash & Equivalents $8.750B $8.786B $8.242B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.002B $979.0M $813.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.752B $9.765B $9.055B
YoY Change 5.12% 7.84% -2.9%
LONG-TERM ASSETS
Property, Plant & Equipment $517.2M $508.8M $508.4M
YoY Change -1.15% 0.08% -0.33%
Goodwill $1.687B $1.661B
YoY Change 1.57%
Intangibles
YoY Change
Long-Term Investments $893.5M $878.4M $790.3M
YoY Change 12.05% 11.15% 15.12%
Other Assets
YoY Change
Total Long-Term Assets $7.782B $7.711B $6.943B
YoY Change 14.08% 11.07% -5.48%
TOTAL ASSETS
Total Short-Term Assets $9.752B $9.765B $9.055B
Total Long-Term Assets $7.782B $7.711B $6.943B
Total Assets $17.53B $17.48B $16.00B
YoY Change 8.91% 9.24% -4.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $292.0M $275.0M $193.0M
YoY Change 25.32% 42.49% -14.6%
Accrued Expenses $397.0M $360.0M $355.0M
YoY Change 11.2% 1.41% -17.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $802.0M $749.0M $654.0M
YoY Change 15.4% 14.53% -12.68%
LONG-TERM LIABILITIES
Long-Term Debt $1.098B $1.428B $2.164B
YoY Change -47.29% -34.01% -1.81%
Other Long-Term Liabilities $587.0M $608.0M $628.0M
YoY Change 3.16% -3.18% -6.41%
Total Long-Term Liabilities $1.685B $2.036B $2.792B
YoY Change -36.46% -27.08% -2.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $802.0M $749.0M $654.0M
Total Long-Term Liabilities $1.685B $2.036B $2.792B
Total Liabilities $2.656B $2.941B $3.587B
YoY Change -24.31% -18.01% -7.67%
SHAREHOLDERS EQUITY
Retained Earnings $12.85B $12.67B $12.08B
YoY Change 5.1% 4.87% -1.65%
Common Stock $55.50M $55.80M $57.70M
YoY Change -2.63% -3.29% -6.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.62B $12.40B $11.78B
YoY Change
Total Liabilities & Shareholders Equity $17.53B $17.48B $16.00B
YoY Change 8.91% 9.24% -4.04%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $425.2M $410.6M $446.4M
YoY Change -9.93% -8.02% -11.46%
Depreciation, Depletion And Amortization $18.00M $21.80M $19.40M
YoY Change -15.49% 12.37% -16.38%
Cash From Operating Activities $177.1M $344.0M $735.7M
YoY Change -68.5% -53.24% 6.09%
INVESTING ACTIVITIES
Capital Expenditures -$25.90M -$20.20M -$26.30M
YoY Change -28.45% -23.19% 90.58%
Acquisitions
YoY Change
Other Investing Activities $13.00M $11.00M $19.30M
YoY Change -90.47% -43.01% -86.41%
Cash From Investing Activities -$12.90M -$9.200M -$7.000M
YoY Change -112.87% 31.43% -105.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -225.2M -369.0M -509.2M
YoY Change -47.01% -27.53% -7.79%
NET CHANGE
Cash From Operating Activities 177.1M 344.0M 735.7M
Cash From Investing Activities -12.90M -9.200M -7.000M
Cash From Financing Activities -225.2M -369.0M -509.2M
Net Change In Cash -61.00M -34.20M 219.5M
YoY Change -125.68% -115.58% -18.55%
FREE CASH FLOW
Cash From Operating Activities $177.1M $344.0M $735.7M
Capital Expenditures -$25.90M -$20.20M -$26.30M
Free Cash Flow $203.0M $364.2M $762.0M
YoY Change -66.08% -52.2% 7.73%

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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
3816000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
34.13
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
3657000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
6574000 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
45.67
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
38.94
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
400000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
49.30
CY2017Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
35500000 shares
CY2016Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
326700000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1068100000 USD
CY2017Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
174600000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
603100000 USD
CY2016Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
9300000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
29400000 shares
CY2017Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4100000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
15200000 shares
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
11935800000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
12400000000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12495800000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12371500000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12528200000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12705100000 USD
CY2015Q3 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
59600000 USD
CY2016Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
39400000 USD
CY2016Q3 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
61100000 USD
CY2017Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
1830600000 USD
CY2016Q2 us-gaap Trading Gains Losses
TradingGainsLosses
35400000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
49800000 USD
CY2017Q2 us-gaap Trading Gains Losses
TradingGainsLosses
1100000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
11500000 USD
CY2016Q3 us-gaap Trading Securities
TradingSecurities
1121900000 USD
CY2017Q2 us-gaap Trading Securities
TradingSecurities
377800000 USD
CY2016Q2 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
26800000 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
37000000 USD
CY2017Q2 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
1300000 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
3800000 USD
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
500000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
300000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
578900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
587900000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
556700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
560800000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
578900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
587900000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
556200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
560500000 shares

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