2017 Q1 Form 10-Q Financial Statement

#000162828017003313 Filed on April 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1 2015 Q2
Revenue $1.981B $2.199B $222.5M
YoY Change -9.92% -24.35% -94.38%
Cost Of Revenue $1.360B $1.580B $800.0K
YoY Change -13.88% -27.79% -100.31%
Gross Profit $621.0M $619.8M $221.7M
YoY Change 0.19% -13.92% -73.72%
Gross Profit Margin 31.34% 28.18% 99.64%
Selling, General & Admin $349.7M $447.0M $237.8M
YoY Change -21.77% 24.06% 304.42%
% of Gross Profit 56.31% 72.12% 107.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.50M $69.40M -$62.50M
YoY Change -17.15% -52.17% -14.27%
% of Gross Profit 9.26% 11.2% -28.19%
Operating Expenses $349.7M $447.0M $237.8M
YoY Change -21.77% 24.06% 304.42%
Operating Profit $376.5M $324.7M -$16.10M
YoY Change 15.95% -138.1% -102.05%
Interest Expense -$44.30M -$73.80M -$80.40M
YoY Change -39.97% -191.91% -45.9%
% of Operating Profit -11.77% -22.73%
Other Income/Expense, Net -$300.0K
YoY Change
Pretax Income $225.6M $96.40M -$96.50M
YoY Change 134.02% -65.56% -1248.81%
Income Tax $67.90M $33.60M -$35.20M
% Of Pretax Income 30.1% 34.85%
Net Earnings $179.7M $204.6M $209.2M
YoY Change -12.17% -121.44% -164.53%
Net Earnings / Revenue 9.07% 9.3% 94.02%
Basic Earnings Per Share $0.42 $0.46
Diluted Earnings Per Share $0.41 $0.46 $488.9K
COMMON SHARES
Basic Shares Outstanding 431.7M shares 435.7M shares 428.9M shares
Diluted Shares Outstanding 436.4M shares 439.6M shares

Balance Sheet

Concept 2017 Q1 2016 Q1 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $684.0M $503.0M $165.0M
YoY Change 35.98% 267.15% 17.02%
Cash & Equivalents $683.6M $466.0M $134.1M
Short-Term Investments
Other Short-Term Assets $207.7M $335.6M $168.2M
YoY Change -38.11% -5.6% -47.83%
Inventory $1.046B $1.836B $1.643B
Prepaid Expenses
Receivables $601.0M $850.0M $739.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.539B $3.528B $3.563B
YoY Change -28.02% -10.09% -15.78%
LONG-TERM ASSETS
Property, Plant & Equipment $1.656B $2.646B $2.645B
YoY Change -37.42% -26.1% -27.27%
Goodwill $4.252B $4.682B $4.329B
YoY Change -9.19% -25.74% -4.84%
Intangibles $1.253B $1.372B $1.273B
YoY Change -8.65% -55.21% -60.3%
Long-Term Investments
YoY Change
Other Assets $797.6M $960.0M $926.8M
YoY Change -16.92% -3.8% 320.51%
Total Long-Term Assets $7.960B $9.660B $13.87B
YoY Change -17.6% -30.73% -7.57%
TOTAL ASSETS
Total Short-Term Assets $2.539B $3.528B $3.563B
Total Long-Term Assets $7.960B $9.660B $13.87B
Total Assets $10.50B $13.19B $17.44B
YoY Change -20.38% -26.2% -9.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $690.1M $1.008B $1.080B
YoY Change -31.52% -24.48% -19.96%
Accrued Expenses $740.0M $989.0M $826.0M
YoY Change -25.18% 8.21% -6.67%
Deferred Revenue
YoY Change
Short-Term Debt $4.000M $37.00M $0.00
YoY Change -89.19% -91.63% -100.0%
Long-Term Debt Due $129.0M $560.0M $1.008B
YoY Change -76.96% -44.5% 1098.34%
Total Short-Term Liabilities $1.565B $2.616B $3.310B
YoY Change -40.17% -29.63% 25.27%
LONG-TERM LIABILITIES
Long-Term Debt $2.842B $4.903B $6.889B
YoY Change -42.04% -29.14% -21.0%
Other Long-Term Liabilities $1.788B $1.936B $1.916B
YoY Change -7.62% -28.15% -26.29%
Total Long-Term Liabilities $1.788B $1.936B $8.805B
YoY Change -7.62% -28.15% -22.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.565B $2.616B $3.310B
Total Long-Term Liabilities $1.788B $1.936B $8.805B
Total Liabilities $6.195B $9.455B $12.83B
YoY Change -34.48% -29.07% -8.14%
SHAREHOLDERS EQUITY
Retained Earnings $4.171B $3.211B $4.331B
YoY Change 29.91% -24.08% -13.56%
Common Stock $4.005B $3.947B $3.889B
YoY Change 1.46% 1.89% 0.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.683B $3.176B $3.365B
YoY Change 15.99% -6.3% -3.71%
Treasury Stock Shares 142.4M shares 131.5M shares 139.7M shares
Shareholders Equity $4.221B $3.654B $4.526B
YoY Change
Total Liabilities & Shareholders Equity $10.50B $13.19B $17.44B
YoY Change -20.38% -26.2% -9.74%

Cashflow Statement

Concept 2017 Q1 2016 Q1 2015 Q2
OPERATING ACTIVITIES
Net Income $179.7M $204.6M $209.2M
YoY Change -12.17% -121.44% -164.53%
Depreciation, Depletion And Amortization $57.50M $69.40M -$62.50M
YoY Change -17.15% -52.17% -14.27%
Cash From Operating Activities $304.3M $472.1M $740.1M
YoY Change -35.54% 46.25% 23.23%
INVESTING ACTIVITIES
Capital Expenditures -$40.20M -$60.70M -$32.80M
YoY Change -33.77% -47.81% -332.62%
Acquisitions
YoY Change
Other Investing Activities $1.200M $2.554B -$141.0M
YoY Change -99.95% 15963.52% 85.28%
Cash From Investing Activities -$39.00M $2.493B -$173.8M
YoY Change -101.56% -2583.47% 180.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.026B -2.506B -519.4M
YoY Change -59.06% 1148.11% -12.78%
NET CHANGE
Cash From Operating Activities 304.3M 472.1M 740.1M
Cash From Investing Activities -39.00M 2.493B -173.8M
Cash From Financing Activities -1.026B -2.506B -519.4M
Net Change In Cash -760.8M 459.3M 46.90M
YoY Change -265.64% 2026.39% -182.43%
FREE CASH FLOW
Cash From Operating Activities $304.3M $472.1M $740.1M
Capital Expenditures -$40.20M -$60.70M -$32.80M
Free Cash Flow $344.5M $532.8M $772.9M
YoY Change -35.34% 21.34% 31.78%

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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Prior Period Reclassification Adjustment Description
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications and other changes </font><font style="font-family:inherit;font-size:10pt;">&#8212; Certain prior year amounts have been reclassified to conform with current year presentation.</font></div></div>
us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font><font style="font-family:inherit;font-size:10pt;"> &#8212; Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect reported amounts of assets, liabilities, revenues, and expenses as reflected in the condensed consolidated financial statements. Actual results could differ from these estimates.</font></div></div>

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