2016 Q1 Form 10-Q Financial Statement

#000001427216000399 Filed on April 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $4.391B $4.041B
YoY Change 8.66% 6.04%
Cost Of Revenue $1.052B $847.0M
YoY Change 24.2% -12.5%
Gross Profit $3.339B $3.194B
YoY Change 4.54% 12.35%
Gross Profit Margin 76.04% 79.04%
Selling, General & Admin $1.068B $1.029B
YoY Change 3.79% 7.52%
% of Gross Profit 31.99% 32.22%
Research & Development $1.136B $1.016B
YoY Change 11.81% 7.4%
% of Gross Profit 34.02% 31.81%
Depreciation & Amortization $65.00M $104.0M
YoY Change -37.5% -24.09%
% of Gross Profit 1.95% 3.26%
Operating Expenses $2.204B $2.045B
YoY Change 7.78% 7.46%
Operating Profit $1.135B $1.149B
YoY Change -1.22% 22.23%
Interest Expense $43.00M $51.00M
YoY Change -15.69% -5.56%
% of Operating Profit 3.79% 4.44%
Other Income/Expense, Net $520.0M $299.0M
YoY Change 73.91% 43.75%
Pretax Income $1.655B $1.448B
YoY Change 14.3% 47.01%
Income Tax $449.0M $249.0M
% Of Pretax Income 27.13% 17.2%
Net Earnings $1.195B $1.186B
YoY Change 0.76% 26.57%
Net Earnings / Revenue 27.21% 29.35%
Basic Earnings Per Share $0.72 $0.71
Diluted Earnings Per Share $0.71 $0.71
COMMON SHARES
Basic Shares Outstanding 1.669B shares 1.663B shares
Diluted Shares Outstanding 1.680B shares 1.676B shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.996B $11.89B
YoY Change -32.73% 11.95%
Cash & Equivalents $2.644B $6.294B
Short-Term Investments $5.352B $5.592B
Other Short-Term Assets $822.0M $2.541B
YoY Change -67.65% 12.09%
Inventory $1.336B $1.437B
Prepaid Expenses $615.0M $538.0M
Receivables $3.363B $2.250B
Other Receivables $1.387B $1.090B
Total Short-Term Assets $11.22B $14.93B
YoY Change -24.86% 6.5%
LONG-TERM ASSETS
Property, Plant & Equipment $4.455B $4.323B
YoY Change 3.05% -3.61%
Goodwill $6.875B $7.027B
YoY Change -2.16% -0.27%
Intangibles $1.380B $1.706B
YoY Change -19.11% -22.74%
Long-Term Investments $3.689B $4.279B
YoY Change -13.79% 20.26%
Other Assets $1.048B $634.0M
YoY Change 65.3% -52.11%
Total Long-Term Assets $20.68B $18.65B
YoY Change 10.84% -3.89%
TOTAL ASSETS
Total Short-Term Assets $11.22B $14.93B
Total Long-Term Assets $20.68B $18.65B
Total Assets $31.89B $33.58B
YoY Change -5.02% 0.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.543B $2.346B
YoY Change -34.23% -6.24%
Accrued Expenses $4.311B $1.791B
YoY Change 140.7% -10.32%
Deferred Revenue
YoY Change
Short-Term Debt $106.0M $330.0M
YoY Change -67.88% 17.44%
Long-Term Debt Due $106.0M $330.0M
YoY Change -67.88% 17.44%
Total Short-Term Liabilities $7.597B $7.689B
YoY Change -1.2% 2.23%
LONG-TERM LIABILITIES
Long-Term Debt $6.593B $7.127B
YoY Change -7.49% -3.26%
Other Long-Term Liabilities $1.693B $583.0M
YoY Change 190.39% -5.36%
Total Long-Term Liabilities $8.286B $7.710B
YoY Change 7.47% -3.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.597B $7.689B
Total Long-Term Liabilities $8.286B $7.710B
Total Liabilities $17.34B $17.89B
YoY Change -3.07% -0.02%
SHAREHOLDERS EQUITY
Retained Earnings $32.18B $33.11B
YoY Change -2.82% -0.54%
Common Stock $221.0M $221.0M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.82B $16.68B
YoY Change 0.83% -3.12%
Treasury Stock Shares 539.0M shares 541.0M shares
Shareholders Equity $14.39B $15.55B
YoY Change
Total Liabilities & Shareholders Equity $31.89B $33.58B
YoY Change -5.02% 0.46%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $1.195B $1.186B
YoY Change 0.76% 26.57%
Depreciation, Depletion And Amortization $65.00M $104.0M
YoY Change -37.5% -24.09%
Cash From Operating Activities -$228.0M $626.0M
YoY Change -136.42% 1.46%
INVESTING ACTIVITIES
Capital Expenditures $242.0M $136.0M
YoY Change 77.94% 15.25%
Acquisitions $8.000M
YoY Change
Other Investing Activities $1.668B $890.0M
YoY Change 87.42% 4138.1%
Cash From Investing Activities $1.426B $754.0M
YoY Change 89.12% -65.91%
FINANCING ACTIVITIES
Cash Dividend Paid $641.0M $623.0M
YoY Change 2.89% 2.98%
Common Stock Issuance & Retirement, Net $231.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$950.0M -$682.0M
YoY Change 39.3% -42.79%
NET CHANGE
Cash From Operating Activities -$228.0M $626.0M
Cash From Investing Activities $1.426B $754.0M
Cash From Financing Activities -$950.0M -$682.0M
Net Change In Cash $248.0M $698.0M
YoY Change -64.47% -57.36%
FREE CASH FLOW
Cash From Operating Activities -$228.0M $626.0M
Capital Expenditures $242.0M $136.0M
Free Cash Flow -$470.0M $490.0M
YoY Change -195.92% -1.8%

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CY2016Q1 us-gaap Depreciation Depletion And Amortization
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CY2015Q1 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2016Q1 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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270000000 USD
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CY2015Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2016Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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492000000 USD
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P2Y10M18D
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CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2016Q1 us-gaap Gain Loss On Sale Of Business
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CY2015Q1 us-gaap Gain Loss Related To Litigation Settlement
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CY2016Q1 us-gaap Gain Loss Related To Litigation Settlement
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CY2015Q4 us-gaap Goodwill
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CY2016Q1 us-gaap Goodwill
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13000000 USD
CY2016Q1 us-gaap Impairment Of Intangible Assets Finitelived
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15000000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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1448000000 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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1655000000 USD
CY2015Q1 us-gaap Income Loss From Equity Method Investments
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26000000 USD
CY2016Q1 us-gaap Income Loss From Equity Method Investments
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CY2015Q1 us-gaap Income Tax Expense Benefit
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CY2016Q1 us-gaap Income Tax Expense Benefit
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CY2016Q1 us-gaap Income Taxes Receivable
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207000000 USD
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CY2016Q1 us-gaap Increase Decrease In Accounts Payable
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CY2016Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2016Q1 us-gaap Increase Decrease In Inventories
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44000000 USD
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CY2015Q1 us-gaap Increase Decrease In Receivables
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91000000 USD
CY2016Q1 us-gaap Increase Decrease In Receivables
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CY2015Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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120000000 USD
CY2016Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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120000000 USD
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CY2016Q1 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2015Q1 us-gaap Interest Expense
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CY2016Q1 us-gaap Interest Expense
InterestExpense
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CY2016Q1 us-gaap Interest Paid Net
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CY2016Q1 us-gaap Inventory Finished Goods
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CY2015Q4 us-gaap Inventory Raw Materials And Supplies
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199000000 USD
CY2016Q1 us-gaap Inventory Raw Materials And Supplies
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227000000 USD
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30000000 USD
CY2016Q1 us-gaap Investment Income Interest
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24000000 USD
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CY2016Q1 us-gaap Liabilities
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CY2016Q1 us-gaap Liabilities And Stockholders Equity
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CY2016Q1 us-gaap Liabilities Current
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189000000 USD
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169000000 USD
CY2015Q4 us-gaap Long Term Debt Noncurrent
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6550000000 USD
CY2016Q1 us-gaap Long Term Debt Noncurrent
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CY2016Q1 us-gaap Marketable Securities Current
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4660000000 USD
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CY2015Q4 us-gaap Minority Interest
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CY2016Q1 us-gaap Minority Interest
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CY2016Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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27000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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16000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2015Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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4000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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18000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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2000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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6000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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CY2016Q1 us-gaap Other Comprehensive Income Loss Tax
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35000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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24000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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42000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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25000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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27000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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17000000 USD
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13000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2015Q4 us-gaap Other Liabilities Noncurrent
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CY2016Q1 us-gaap Other Liabilities Noncurrent
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21000000 USD
CY2016Q1 us-gaap Other Noncash Income Expense
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10000000 USD
CY2015Q1 us-gaap Other Nonoperating Income Expense
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CY2016Q1 us-gaap Other Nonoperating Income Expense
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CY2015Q4 us-gaap Other Receivables
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211000000 USD
CY2016Q1 us-gaap Other Receivables
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274000000 USD
CY2015Q1 us-gaap Other Sales Revenue Net
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CY2016Q1 us-gaap Other Sales Revenue Net
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427000000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
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231000000 USD
CY2015Q1 us-gaap Payments Of Dividends
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623000000 USD
CY2016Q1 us-gaap Payments Of Dividends
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641000000 USD
CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
8000000 USD
CY2015Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
821000000 USD
CY2016Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
523000000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
136000000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
242000000 USD
CY2015Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
47000000 USD
CY2016Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
47000000 USD
CY2015Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
765000000 USD
CY2016Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
1002000000 USD
CY2016Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
50
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
4161 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
4161 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4161 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4161 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
625000000 USD
CY2016Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
615000000 USD
CY2016Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
350000000 USD
CY2015Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
203000000 USD
CY2016Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
439000000 USD
CY2015Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-260000000 USD
CY2016Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-33000000 USD
CY2015Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
1508000000 USD
CY2016Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
1760000000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
1199000000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
1206000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8631000000 USD
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8757000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4412000000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4455000000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
4299000000 USD
CY2016Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
4957000000 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1016000000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1136000000 USD
CY2015Q1 us-gaap Restructuring Charges
RestructuringCharges
12000000 USD
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
4000000 USD
CY2015Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
89000000 USD
CY2016Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
66000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
31613000000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
32176000000 USD
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
3059000000 USD
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
3964000000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
4041000000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
4391000000 USD
CY2015Q1 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
27000000 USD
CY2016Q1 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
18000000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1029000000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1068000000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
54000000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
47000000 USD
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
139000000 USD
CY2016Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
106000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
14266000000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
14386000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14424000000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14551000000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
539000000 shares
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
539000000 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
16559000000 USD
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
16821000000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1676000000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1680000000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1663000000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1669000000 shares

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