2020 Q2 Form 10-Q Financial Statement

#000155837020008849 Filed on July 31, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $868.7M $620.6M
YoY Change 39.98% -7.03%
Cost Of Revenue $571.8M $337.4M
YoY Change 69.47% -12.14%
Gross Profit $296.9M $283.2M
YoY Change 4.84% -0.11%
Gross Profit Margin 34.18% 45.63%
Selling, General & Admin $84.70M $89.20M
YoY Change -5.04% -3.98%
% of Gross Profit 28.53% 31.5%
Research & Development $12.50M $11.80M
YoY Change 5.93% 0.0%
% of Gross Profit 4.21% 4.17%
Depreciation & Amortization $38.00M $43.70M
YoY Change -13.04% -13.29%
% of Gross Profit 12.8% 15.43%
Operating Expenses $135.2M $158.0M
YoY Change -14.43% 2.33%
Operating Profit $161.7M $125.2M
YoY Change 29.15% -3.02%
Interest Expense -$7.300M -$10.00M
YoY Change -27.0% 7.53%
% of Operating Profit -4.51% -7.99%
Other Income/Expense, Net $2.200M $4.400M
YoY Change -50.0%
Pretax Income $156.6M $119.6M
YoY Change 30.94% -0.17%
Income Tax $43.00M $35.10M
% Of Pretax Income 27.46% 29.35%
Net Earnings $113.6M $88.30M
YoY Change 28.65% 6.0%
Net Earnings / Revenue 13.08% 14.23%
Basic Earnings Per Share $1.04 $0.79
Diluted Earnings Per Share $1.03 $0.78
COMMON SHARES
Basic Shares Outstanding 109.5M 111.5M
Diluted Shares Outstanding 109.6M 111.6M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $386.6M $244.2M
YoY Change 58.31% -10.15%
Cash & Equivalents $210.1M $161.3M
Short-Term Investments $176.5M $82.90M
Other Short-Term Assets $17.80M $16.90M
YoY Change 5.33% 29.01%
Inventory
Prepaid Expenses
Receivables $376.8M $245.9M
Other Receivables $0.00 $70.40M
Total Short-Term Assets $781.2M $577.4M
YoY Change 35.3% -1.13%
LONG-TERM ASSETS
Property, Plant & Equipment $75.60M $50.70M
YoY Change 49.11% -27.88%
Goodwill $2.730B $2.680B
YoY Change 1.88%
Intangibles $1.526B $1.647B
YoY Change -7.31%
Long-Term Investments $22.60M $22.00M
YoY Change 2.73% -75.2%
Other Assets $60.80M $66.20M
YoY Change -8.16% 199.55%
Total Long-Term Assets $4.585B $4.582B
YoY Change 0.07% -3.19%
TOTAL ASSETS
Total Short-Term Assets $781.2M $577.4M
Total Long-Term Assets $4.585B $4.582B
Total Assets $5.366B $5.159B
YoY Change 4.01% -2.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.20M $9.000M
YoY Change 35.56% -18.92%
Accrued Expenses $185.8M $126.8M
YoY Change 46.53% -13.09%
Deferred Revenue $17.30M $13.20M
YoY Change 31.06%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $496.5M $285.8M
YoY Change 73.72% -57.96%
LONG-TERM LIABILITIES
Long-Term Debt $868.6M $916.6M
YoY Change -5.24% 0.22%
Other Long-Term Liabilities $24.20M $23.20M
YoY Change 4.31% -74.19%
Total Long-Term Liabilities $892.8M $939.8M
YoY Change -5.0% -6.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $496.5M $285.8M
Total Long-Term Liabilities $892.8M $939.8M
Total Liabilities $2.080B $1.226B
YoY Change 69.71% -43.45%
SHAREHOLDERS EQUITY
Retained Earnings $1.704B $1.402B
YoY Change 21.53%
Common Stock $1.200M $1.200M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $17.22M $13.97M
Shareholders Equity $3.286B $3.327B
YoY Change
Total Liabilities & Shareholders Equity $5.366B $5.159B
YoY Change 4.01% -2.96%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $113.6M $88.30M
YoY Change 28.65% 6.0%
Depreciation, Depletion And Amortization $38.00M $43.70M
YoY Change -13.04% -13.29%
Cash From Operating Activities $325.0M $199.6M
YoY Change 62.83% 7.43%
INVESTING ACTIVITIES
Capital Expenditures -$6.600M -$13.30M
YoY Change -50.38% 150.94%
Acquisitions
YoY Change
Other Investing Activities -$134.0M -$32.10M
YoY Change 317.45% -52.02%
Cash From Investing Activities -$140.6M -$45.40M
YoY Change 209.69% -37.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -139.2M -334.8M
YoY Change -58.42% 146.9%
NET CHANGE
Cash From Operating Activities 325.0M 199.6M
Cash From Investing Activities -140.6M -45.40M
Cash From Financing Activities -139.2M -334.8M
Net Change In Cash 45.20M -180.6M
YoY Change -125.03% 720.91%
FREE CASH FLOW
Cash From Operating Activities $325.0M $199.6M
Capital Expenditures -$6.600M -$13.30M
Free Cash Flow $331.6M $212.9M
YoY Change 55.75% 11.41%

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55400000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
5000000.0
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
3200000
us-gaap Operating Lease Cost
OperatingLeaseCost
9800000
us-gaap Operating Lease Cost
OperatingLeaseCost
6800000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y9M18D
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y6M
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
100000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
70900000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
19000000.0

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