2015 Q3 Form 10-Q Financial Statement

#000072361215000169 Filed on November 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $2.577B $2.542B
YoY Change 1.38% 6.14%
Cost Of Revenue $1.202B $1.168B
YoY Change 2.91% 2.01%
Gross Profit $1.375B $1.374B
YoY Change 0.07% 9.92%
Gross Profit Margin 53.36% 54.05%
Selling, General & Admin $314.0M $298.0M
YoY Change 5.37% 8.76%
% of Gross Profit 22.84% 21.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $566.0M $565.0M
YoY Change 0.18% 7.62%
% of Gross Profit 41.16% 41.12%
Operating Expenses $314.0M $298.0M
YoY Change 5.37% 8.76%
Operating Profit $1.061B $1.076B
YoY Change -1.39% 10.25%
Interest Expense $49.00M $50.00M
YoY Change -2.0% -12.28%
% of Operating Profit 4.62% 4.65%
Other Income/Expense, Net
YoY Change
Pretax Income $312.0M $306.0M
YoY Change 1.96% 33.04%
Income Tax $128.0M $114.0M
% Of Pretax Income 41.03% 37.25%
Net Earnings $184.0M $192.0M
YoY Change -4.17% 62.71%
Net Earnings / Revenue 7.14% 7.55%
Basic Earnings Per Share $1.80 $1.84
Diluted Earnings Per Share $1.77 $1.74
COMMON SHARES
Basic Shares Outstanding 102.7M shares 103.9M shares
Diluted Shares Outstanding 104.0M shares 109.9M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $585.0M $713.0M
YoY Change -17.95% 21.05%
Cash & Equivalents $585.0M $713.0M
Short-Term Investments
Other Short-Term Assets $684.0M $590.0M
YoY Change 15.93% 2.61%
Inventory
Prepaid Expenses $213.0M $205.0M
Receivables $705.0M $659.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.118B $2.135B
YoY Change -0.8% 6.32%
LONG-TERM ASSETS
Property, Plant & Equipment $642.0M $623.0M
YoY Change 3.05% 9.3%
Goodwill $964.0M $683.0M
YoY Change 41.14% -0.87%
Intangibles $922.0M $897.0M
YoY Change 2.79% -3.34%
Long-Term Investments $0.00 $0.00
YoY Change
Other Assets $334.0M $351.0M
YoY Change -4.84% -6.4%
Total Long-Term Assets $16.78B $16.16B
YoY Change 3.85% 2.31%
TOTAL ASSETS
Total Short-Term Assets $2.118B $2.135B
Total Long-Term Assets $16.78B $16.16B
Total Assets $18.90B $18.30B
YoY Change 3.31% 2.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.764B $1.679B
YoY Change 5.06% 360.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $27.00M $88.00M
YoY Change -69.32% -51.38%
Total Short-Term Liabilities $1.791B $1.767B
YoY Change 1.36% -5.05%
LONG-TERM LIABILITIES
Long-Term Debt $3.505B $3.247B
YoY Change 7.95% 1.37%
Other Long-Term Liabilities $741.0M $831.0M
YoY Change -10.83% -5.35%
Total Long-Term Liabilities $4.246B $4.078B
YoY Change 4.12% -0.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.791B $1.767B
Total Long-Term Liabilities $4.246B $4.078B
Total Liabilities $6.037B $5.845B
YoY Change 3.28% -1.63%
SHAREHOLDERS EQUITY
Retained Earnings -$1.797B -$2.138B
YoY Change -15.95% -8.32%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.509B $4.918B
YoY Change -8.32% 0.7%
Treasury Stock Shares 36.43M shares 33.73M shares
Shareholders Equity $600.0M $732.0M
YoY Change
Total Liabilities & Shareholders Equity $18.90B $18.30B
YoY Change 3.31% 2.76%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $184.0M $192.0M
YoY Change -4.17% 62.71%
Depreciation, Depletion And Amortization $566.0M $565.0M
YoY Change 0.18% 7.62%
Cash From Operating Activities $1.011B $1.056B
YoY Change -4.26% 21.52%
INVESTING ACTIVITIES
Capital Expenditures -$1.869B -$1.668B
YoY Change 12.05% 4.58%
Acquisitions
YoY Change
Other Investing Activities $2.169B $2.183B
YoY Change -0.64% 18.96%
Cash From Investing Activities $300.0M $515.0M
YoY Change -41.75% 114.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.246B -1.379B
YoY Change -9.64% 33.62%
NET CHANGE
Cash From Operating Activities 1.011B 1.056B
Cash From Investing Activities 300.0M 515.0M
Cash From Financing Activities -1.246B -1.379B
Net Change In Cash 65.00M 192.0M
YoY Change -66.15% 149.35%
FREE CASH FLOW
Cash From Operating Activities $1.011B $1.056B
Capital Expenditures -$1.869B -$1.668B
Free Cash Flow $2.880B $2.724B
YoY Change 5.73% 10.55%

Facts In Submission

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OtherReceivables
627000000 USD
CY2015Q3 us-gaap Other Receivables
OtherReceivables
635000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
9000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
204000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
270000000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
12000000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
7000000 USD
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
149000000 USD
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
225000000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
192000000 USD
CY2015Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
213000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
9000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
8000000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
192000000 USD
us-gaap Profit Loss
ProfitLoss
222000000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
184000000 USD
us-gaap Profit Loss
ProfitLoss
318000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
638000000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
642000000 USD
CY2014Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
599000000 USD
CY2015Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
705000000 USD
CY2015Q3 us-gaap Recorded Unconditional Purchase Obligation Due Within One Year
RecordedUnconditionalPurchaseObligationDueWithinOneYear
7400000000 USD
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
8000000 USD
us-gaap Restructuring Charges
RestructuringCharges
16000000 USD
CY2015Q3 us-gaap Restructuring Charges
RestructuringCharges
6000000 USD
us-gaap Restructuring Charges
RestructuringCharges
10000000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
17000000 USD
CY2015Q3 us-gaap Restructuring Reserve
RestructuringReserve
8000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2115000000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1797000000 USD
CY2014Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2542000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
6598000000 USD
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2577000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
665000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
6600000000 USD
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
298000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
833000000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
314000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
843000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.37
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0083
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0074
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
54000000 USD
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
34000000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
848000 shares
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
827000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.92
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.87
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.40
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.79
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M0D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y6M0D
CY2015Q3 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
1000000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
20000 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
15000000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
24000000 USD
CY2015Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
885000000 USD
CY2015Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
258000000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4000000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
5900000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
210000000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
277000000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
600000000 USD
CY2014Q3 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
29000000 USD
us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
31000000 USD
CY2015Q3 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
1000000 USD
us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
25000000 USD
CY2015Q3 us-gaap Translation Adjustment For Net Investment Hedge Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeNetOfTax
60000000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
31386746 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
36425770 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
4411000000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
4509000000 USD
CY2014Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
125000000 USD
CY2015Q3 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
322000000 USD
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1300000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1400000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111200000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106100000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105200000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104700000 shares

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