2013 Q1 Form 10-Q Financial Statement

#000119312513172698 Filed on April 25, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $3.831B $5.251B
YoY Change -27.04% 4.79%
Cost Of Revenue $1.063B $1.303B
YoY Change -18.42% -2.98%
Gross Profit $2.768B $3.948B
YoY Change -29.89% 7.63%
Gross Profit Margin 72.25% 75.19%
Selling, General & Admin $994.0M $1.002B
YoY Change -0.8% 7.97%
% of Gross Profit 35.91% 25.38%
Research & Development $930.0M $909.0M
YoY Change 2.31% -2.78%
% of Gross Profit 33.6% 23.02%
Depreciation & Amortization $213.0M $139.0M
YoY Change 53.24% 18.8%
% of Gross Profit 7.7% 3.52%
Operating Expenses $1.924B $1.911B
YoY Change 0.68% 2.58%
Operating Profit $844.0M $1.402B
YoY Change -39.8% 8.85%
Interest Expense $50.00M $42.00M
YoY Change 19.05% 35.48%
% of Operating Profit 5.92% 3.0%
Other Income/Expense, Net $19.00M $184.0M
YoY Change -89.67% 33.33%
Pretax Income $674.0M $2.027B
YoY Change -66.75% 14.71%
Income Tax $51.00M $545.0M
% Of Pretax Income 7.57% 26.89%
Net Earnings $609.0M $1.101B
YoY Change -44.69% 11.66%
Net Earnings / Revenue 15.9% 20.97%
Basic Earnings Per Share $0.37 $0.65
Diluted Earnings Per Share $0.37 $0.64
COMMON SHARES
Basic Shares Outstanding 1.638B shares 1.687B shares
Diluted Shares Outstanding 1.655B shares 1.706B shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.775B $8.614B
YoY Change -32.96% 26.81%
Cash & Equivalents $1.355B $2.307B
Short-Term Investments $4.420B $6.307B
Other Short-Term Assets $2.780B $1.904B
YoY Change 46.01% 6.25%
Inventory $1.791B $1.463B
Prepaid Expenses $616.0M $500.0M
Receivables $1.798B $2.251B
Other Receivables $1.174B $1.118B
Total Short-Term Assets $10.08B $11.77B
YoY Change -14.36% -11.51%
LONG-TERM ASSETS
Property, Plant & Equipment $5.259B $4.512B
YoY Change 16.56% -2.0%
Goodwill $7.646B $6.799B
YoY Change 12.46% 29.93%
Intangibles $8.570B $4.816B
YoY Change 77.95% 45.98%
Long-Term Investments $3.242B $3.585B
YoY Change -9.57% 16.97%
Other Assets $975.0M $823.0M
YoY Change 18.47% 7.3%
Total Long-Term Assets $25.88B $20.64B
YoY Change 25.38% 17.59%
TOTAL ASSETS
Total Short-Term Assets $10.08B $11.77B
Total Long-Term Assets $25.88B $20.64B
Total Assets $35.96B $32.41B
YoY Change 10.95% 5.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.079B $2.385B
YoY Change -12.83% 17.14%
Accrued Expenses $2.376B $2.566B
YoY Change -7.4% -3.57%
Deferred Revenue
YoY Change
Short-Term Debt $1.372B $145.0M
YoY Change 846.21% 7.41%
Long-Term Debt Due $658.0M $145.0M
YoY Change 353.79% 7.41%
Total Short-Term Liabilities $8.414B $7.211B
YoY Change 16.68% 6.75%
LONG-TERM LIABILITIES
Long-Term Debt $6.522B $5.270B
YoY Change 23.76% -0.11%
Other Long-Term Liabilities $459.0M $656.0M
YoY Change -30.03% 49.77%
Total Long-Term Liabilities $6.981B $5.926B
YoY Change 17.8% 3.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.414B $7.211B
Total Long-Term Liabilities $6.981B $5.926B
Total Liabilities $22.26B $16.16B
YoY Change 37.72% 8.11%
SHAREHOLDERS EQUITY
Retained Earnings $32.76B $33.60B
YoY Change -2.48% 4.8%
Common Stock $221.0M $221.0M
YoY Change 0.0% 0.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.32B $17.29B
YoY Change 5.97% -0.08%
Treasury Stock Shares 565.0M shares 517.0M shares
Shareholders Equity $13.66B $16.34B
YoY Change
Total Liabilities & Shareholders Equity $35.96B $32.41B
YoY Change 10.95% 5.05%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $609.0M $1.101B
YoY Change -44.69% 11.66%
Depreciation, Depletion And Amortization $213.0M $139.0M
YoY Change 53.24% 18.8%
Cash From Operating Activities -$428.0M $387.0M
YoY Change -210.59% -19.54%
INVESTING ACTIVITIES
Capital Expenditures $115.0M $123.0M
YoY Change -6.5% 64.0%
Acquisitions $2.491B
YoY Change
Other Investing Activities -$3.000M -$12.00M
YoY Change -75.0% -99.12%
Cash From Investing Activities $161.0M -$3.027B
YoY Change -105.32% 110.65%
FINANCING ACTIVITIES
Cash Dividend Paid $580.0M $579.0M
YoY Change 0.17% 2.48%
Common Stock Issuance & Retirement, Net $297.0M $339.0M
YoY Change -12.39% 129.05%
Debt Paid & Issued, Net $109.0M
YoY Change 101.85%
Cash From Financing Activities -$44.00M -$836.0M
YoY Change -94.74% 20.81%
NET CHANGE
Cash From Operating Activities -$428.0M $387.0M
Cash From Investing Activities $161.0M -$3.027B
Cash From Financing Activities -$44.00M -$836.0M
Net Change In Cash -$311.0M -$3.476B
YoY Change -91.05% 110.92%
FREE CASH FLOW
Cash From Operating Activities -$428.0M $387.0M
Capital Expenditures $115.0M $123.0M
Free Cash Flow -$543.0M $264.0M
YoY Change -305.68% -34.98%

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CY2012Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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CY2012Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2013Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2012Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
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CY2013Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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367000000 USD
CY2013Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y7M9D

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