2016 Q2 Form 10-Q Financial Statement

#000072361216000321 Filed on August 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $2.243B $2.173B
YoY Change 3.22% -0.96%
Cost Of Revenue $1.122B $1.092B
YoY Change 2.75% -1.18%
Gross Profit $1.121B $1.081B
YoY Change 3.7% -0.73%
Gross Profit Margin 49.98% 49.75%
Selling, General & Admin $312.0M $281.0M
YoY Change 11.03% -2.09%
% of Gross Profit 27.83% 25.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $564.0M $546.0M
YoY Change 3.3% 1.87%
% of Gross Profit 50.31% 50.51%
Operating Expenses $312.0M $281.0M
YoY Change 11.03% -2.09%
Operating Profit $809.0M $800.0M
YoY Change 1.13% -0.25%
Interest Expense $56.00M $45.00M
YoY Change 24.44% -18.18%
% of Operating Profit 6.92% 5.63%
Other Income/Expense, Net
YoY Change
Pretax Income $63.00M $82.00M
YoY Change -23.17% 70.83%
Income Tax $27.00M -$61.00M
% Of Pretax Income 42.86% -74.39%
Net Earnings $36.00M $143.0M
YoY Change -74.83% 450.0%
Net Earnings / Revenue 1.6% 6.58%
Basic Earnings Per Share $0.39 $1.36
Diluted Earnings Per Share $0.38 $1.34
COMMON SHARES
Basic Shares Outstanding 93.90M shares 105.5M shares
Diluted Shares Outstanding 95.10M shares 106.7M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $527.0M $529.0M
YoY Change -0.38% -1.49%
Cash & Equivalents $527.0M $529.0M
Short-Term Investments
Other Short-Term Assets $856.0M $763.0M
YoY Change 12.19% 14.56%
Inventory
Prepaid Expenses $237.0M $219.0M
Receivables $760.0M $685.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.143B $2.121B
YoY Change 1.04% -0.52%
LONG-TERM ASSETS
Property, Plant & Equipment $683.0M $637.0M
YoY Change 7.22% 1.43%
Goodwill $1.004B $971.0M
YoY Change 3.4% 37.34%
Intangibles $896.0M $946.0M
YoY Change -5.29% 1.5%
Long-Term Investments $0.00 $0.00
YoY Change
Other Assets $244.0M $343.0M
YoY Change -28.86% -2.83%
Total Long-Term Assets $18.34B $18.28B
YoY Change 0.34% 2.36%
TOTAL ASSETS
Total Short-Term Assets $2.143B $2.121B
Total Long-Term Assets $18.34B $18.28B
Total Assets $20.48B $20.40B
YoY Change 0.41% 2.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.743B $1.697B
YoY Change 2.71% 3.73%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $28.00M $32.00M
YoY Change -12.5% -64.04%
Total Short-Term Liabilities $1.771B $1.729B
YoY Change 2.43% 0.23%
LONG-TERM LIABILITIES
Long-Term Debt $3.502B $3.520B
YoY Change -0.51% 6.7%
Other Long-Term Liabilities $773.0M $723.0M
YoY Change 6.92% -15.14%
Total Long-Term Liabilities $4.275B $4.243B
YoY Change 0.75% 2.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.771B $1.729B
Total Long-Term Liabilities $4.275B $4.243B
Total Liabilities $6.046B $5.972B
YoY Change 1.24% 1.63%
SHAREHOLDERS EQUITY
Retained Earnings -$1.817B -$1.981B
YoY Change -8.28% -14.98%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.707B $4.349B
YoY Change 8.23% -10.55%
Treasury Stock Shares 45.30M shares 31.06M shares
Shareholders Equity $339.0M $596.0M
YoY Change
Total Liabilities & Shareholders Equity $20.48B $20.40B
YoY Change 0.41% 2.05%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $36.00M $143.0M
YoY Change -74.83% 450.0%
Depreciation, Depletion And Amortization $564.0M $546.0M
YoY Change 3.3% 1.87%
Cash From Operating Activities $607.0M $524.0M
YoY Change 15.84% -15.62%
INVESTING ACTIVITIES
Capital Expenditures -$4.409B -$4.783B
YoY Change -7.82% -4.01%
Acquisitions
YoY Change
Other Investing Activities $2.532B $1.840B
YoY Change 37.61% -1.71%
Cash From Investing Activities -$1.877B -$2.943B
YoY Change -36.22% -5.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 926.0M 2.088B
YoY Change -55.65% -4.35%
NET CHANGE
Cash From Operating Activities 607.0M 524.0M
Cash From Investing Activities -1.877B -2.943B
Cash From Financing Activities 926.0M 2.088B
Net Change In Cash -344.0M -331.0M
YoY Change 3.93% 7.82%
FREE CASH FLOW
Cash From Operating Activities $607.0M $524.0M
Capital Expenditures -$4.409B -$4.783B
Free Cash Flow $5.016B $5.307B
YoY Change -5.48% -5.3%

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us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
3000000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
237000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
0 USD
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
0 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
6000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
7000000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
143000000 USD
us-gaap Profit Loss
ProfitLoss
134000000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
36000000 USD
us-gaap Profit Loss
ProfitLoss
-15000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
681000000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
683000000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
668000000 USD
CY2016Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
760000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-4000000 USD
CY2016Q2 us-gaap Recorded Unconditional Purchase Obligation Due Within One Year
RecordedUnconditionalPurchaseObligationDueWithinOneYear
3300000000 USD
CY2015Q2 us-gaap Restructuring Charges
RestructuringCharges
3000000 USD
us-gaap Restructuring Charges
RestructuringCharges
4000000 USD
CY2016Q2 us-gaap Restructuring Charges
RestructuringCharges
5000000 USD
us-gaap Restructuring Charges
RestructuringCharges
20000000 USD
CY2015Q4 us-gaap Restructuring Reserve
RestructuringReserve
11000000 USD
CY2016Q2 us-gaap Restructuring Reserve
RestructuringReserve
9000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1802000000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1817000000 USD
CY2015Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2173000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
4023000000 USD
CY2016Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2243000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
4124000000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
281000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
529000000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
312000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
581000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
14000000 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
0.37
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.462
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 Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0099
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
28000000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
24000000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
827000 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
821000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.87
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.88
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.79
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M0D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y9M0D
CY2016Q2 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
4000000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
6000 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
24000000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
25000000 USD
CY2016Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1200000000 USD
CY2016Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
260000000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2200000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
116000000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
180000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
439000000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
339000000 USD
CY2016Q2 us-gaap Translation Adjustment For Net Investment Hedge Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeNetOfTax
62000000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
39342387 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
45297032 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
4623000000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
4707000000 USD
CY2015Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
159000000 USD
CY2016Q2 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
434000000 USD
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1200000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1300000 shares
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1200000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107100000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95100000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105800000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95100000 shares

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