2015 Form 10-K Financial Statement

#000156459015011128 Filed on November 25, 2015

View on sec.gov

Income Statement

Concept 2015 2014 Q3 2014 Q2
Revenue $2.871B $911.0M $940.0M
YoY Change -21.28% 1.67% 4.33%
Cost Of Revenue $2.286B $728.0M $756.0M
YoY Change -21.87% 0.41% 4.28%
Gross Profit $585.0M $182.0M $184.0M
YoY Change -18.86% 8.98% 4.55%
Gross Profit Margin 20.38% 19.98% 19.57%
Selling, General & Admin $282.0M $81.00M $76.00M
YoY Change -13.5% 8.0% 5.56%
% of Gross Profit 48.21% 44.51% 41.3%
Research & Development $58.00M $14.00M $15.00M
YoY Change -3.33% -22.22% -11.76%
% of Gross Profit 9.91% 7.69% 8.15%
Depreciation & Amortization $183.0M $51.00M $50.00M
YoY Change -8.96% 10.87% 11.11%
% of Gross Profit 31.28% 28.02% 27.17%
Operating Expenses $340.0M $95.00M $91.00M
YoY Change -11.92% 2.15% 2.25%
Operating Profit -$317.0M $87.00M $93.00M
YoY Change -194.63% 17.57% 6.9%
Interest Expense $53.00M -$14.00M $14.00M
YoY Change -3.64% 0.0% -6.67%
% of Operating Profit -16.09% 15.05%
Other Income/Expense, Net -$11.00M -$2.000M $0.00
YoY Change -144.0% -50.0%
Pretax Income -$439.0M $71.00M $80.00M
YoY Change -978.0% 26.79% 8.11%
Income Tax -$45.00M $41.00M $20.00M
% Of Pretax Income 57.75% 25.0%
Net Earnings -$334.0M $31.00M $52.00M
YoY Change -267.84% -34.04% -11.86%
Net Earnings / Revenue -11.63% 3.4% 5.53%
Basic Earnings Per Share -$5.27 $0.48 $0.79
Diluted Earnings Per Share -$5.27 $0.48 $0.78
COMMON SHARES
Basic Shares Outstanding 63.40M 64.58M shares 64.50M shares
Diluted Shares Outstanding 63.40M 65.20M shares

Balance Sheet

Concept 2015 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.00M $67.00M $101.0M
YoY Change 14.93% -29.47% 32.89%
Cash & Equivalents $77.00M $67.00M $101.0M
Short-Term Investments
Other Short-Term Assets $97.00M $111.0M $144.0M
YoY Change -12.61% 13.27% 148.28%
Inventory $397.0M $498.0M $532.0M
Prepaid Expenses
Receivables $477.0M $688.0M $724.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.048B $1.364B $1.501B
YoY Change -23.17% -8.76% -6.42%
LONG-TERM ASSETS
Property, Plant & Equipment $1.383B $1.581B $1.616B
YoY Change -12.52% -1.19% 3.13%
Goodwill $536.0M $555.0M
YoY Change 6.77% 11.22%
Intangibles $347.0M $354.0M
YoY Change 12.66% -3.54%
Long-Term Investments $57.00M $68.00M $71.00M
YoY Change -16.18% -42.86% -38.79%
Other Assets $280.0M $52.00M $57.00M
YoY Change 48.94% -37.35% -36.67%
Total Long-Term Assets $2.027B $2.720B $2.797B
YoY Change -25.48% -0.66% 2.23%
TOTAL ASSETS
Total Short-Term Assets $1.048B $1.364B $1.501B
Total Long-Term Assets $2.027B $2.720B $2.797B
Total Assets $3.075B $4.084B $4.298B
YoY Change -24.71% -3.52% -0.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $274.0M $351.0M $537.0M
YoY Change -21.94% -11.81% 9.82%
Accrued Expenses $115.0M
YoY Change -28.57%
Deferred Revenue
YoY Change
Short-Term Debt $22.00M $44.00M $119.0M
YoY Change -50.0% -83.33% -54.05%
Long-Term Debt Due $1.000M $24.00M $18.00M
YoY Change -95.83% 71.43% -90.27%
Total Short-Term Liabilities $441.0M $630.0M $715.0M
YoY Change -30.0% -25.36% -27.63%
LONG-TERM LIABILITIES
Long-Term Debt $997.0M $1.004B $1.026B
YoY Change -3.3% -1.57% 1.79%
Other Long-Term Liabilities $240.0M $291.0M $273.0M
YoY Change -17.53% 9.81% -3.87%
Total Long-Term Liabilities $1.237B $1.295B $1.299B
YoY Change -6.43% 0.78% 0.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $441.0M $630.0M $715.0M
Total Long-Term Liabilities $1.237B $1.295B $1.299B
Total Liabilities $1.841B $1.925B $2.014B
YoY Change -14.05% -9.58% -11.67%
SHAREHOLDERS EQUITY
Retained Earnings $1.900B $1.883B
YoY Change 8.26% 9.48%
Common Stock $113.0M $65.00M
YoY Change 76.56% 1.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.000M $8.000M
YoY Change -12.5% 0.0%
Treasury Stock Shares $252.4K 252.5K shares
Shareholders Equity $1.234B $1.942B $2.087B
YoY Change
Total Liabilities & Shareholders Equity $3.075B $4.084B $4.298B
YoY Change -24.71% -3.52% -0.97%

Cashflow Statement

Concept 2015 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income -$334.0M $31.00M $52.00M
YoY Change -267.84% -34.04% -11.86%
Depreciation, Depletion And Amortization $183.0M $51.00M $50.00M
YoY Change -8.96% 10.87% 11.11%
Cash From Operating Activities $499.0M $130.0M $116.0M
YoY Change 58.41% -53.07% -15.94%
INVESTING ACTIVITIES
Capital Expenditures $141.0M -$56.00M -$45.00M
YoY Change -17.54% -18.84% -33.82%
Acquisitions
YoY Change
Other Investing Activities -$21.00M $18.00M $215.0M
YoY Change -113.55% 800.0% 2288.89%
Cash From Investing Activities -$162.0M -$38.00M $170.0M
YoY Change 912.5% -43.28% -388.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $97.00M
YoY Change 2325.0%
Debt Paid & Issued, Net $57.00M
YoY Change 147.83%
Cash From Financing Activities -256.0M -114.0M -277.0M
YoY Change -15.23% -41.24% 241.98%
NET CHANGE
Cash From Operating Activities 499.0M 130.0M 116.0M
Cash From Investing Activities -162.0M -38.00M 170.0M
Cash From Financing Activities -256.0M -114.0M -277.0M
Net Change In Cash 81.00M -22.00M 9.000M
YoY Change -2800.0% -237.5% -550.0%
FREE CASH FLOW
Cash From Operating Activities $499.0M $130.0M $116.0M
Capital Expenditures $141.0M -$56.00M -$45.00M
Free Cash Flow $358.0M $186.0M $161.0M
YoY Change 148.61% -46.24% -21.84%

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<div> <p style="margin-top:9pt;margin-bottom:0pt;margin-left:2.27%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Calibri;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:4pt;margin-bottom:0pt;font-family:Calibri;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States requires management to make certain estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.</p></div>
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CY2015Q3 us-gaap Long Term Debt And Capital Lease Obligations
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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46.03
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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CY2014Q3 cbt Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Grant Date Fair Value
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CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2015 cbt Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Grant Date Fair Value
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CY2015 cbt Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Grant Date Fair Value
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CY2015Q3 cbt Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Grant Date Fair Value
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P6Y3M18D
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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CY2015Q3 cbt Parent Company End Of Day Stock Price
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CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Expected Dividend
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Expected Dividend
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Expected Dividend
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CY2015 us-gaap Restructuring Charges
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CY2015 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2015 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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24000000
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CY2013 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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1000000
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CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
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197000000
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197000000
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
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152000000
CY2015 us-gaap Weighted Average Number Of Shares Issued Basic
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CY2014 cbt Participating Securities
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CY2013 cbt Undistributed Loss Earnings Allocated To Common Shareholders
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101000000
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CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2013 cbt Participating Securities
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600000
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197072
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2013 us-gaap Weighted Average Number Of Shares Issued Basic
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CY2015 cbt Participating Securities
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CY2014 us-gaap Undistributed Earnings
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CY2013 us-gaap Undistributed Earnings
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102000000
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143000000
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152000000
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2015 cbt Current Federal And State Tax Expense Benefit
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CY2013 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
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CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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108000000
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2015 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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