2018 Q1 Form 10-Q Financial Statement

#000121960118000017 Filed on May 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $2.197B $1.901B
YoY Change 15.57% 0.42%
Cost Of Revenue $1.808B $1.531B
YoY Change 18.09% 0.66%
Gross Profit $324.0M $311.0M
YoY Change 4.18% -16.4%
Gross Profit Margin 14.75% 16.36%
Selling, General & Admin $90.00M $90.00M
YoY Change 0.0% -1.1%
% of Gross Profit 27.78% 28.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $65.00M $59.00M
YoY Change 10.17% -1.67%
% of Gross Profit 20.06% 18.97%
Operating Expenses $90.00M $90.00M
YoY Change 0.0% -1.1%
Operating Profit $221.0M $225.0M
YoY Change -1.78% 2.74%
Interest Expense $74.00M $62.00M
YoY Change 19.35% -3.13%
% of Operating Profit 33.48% 27.56%
Other Income/Expense, Net $17.00M $12.00M
YoY Change 41.67%
Pretax Income $152.0M $179.0M
YoY Change -15.08% 30.66%
Income Tax $39.00M $46.00M
% Of Pretax Income 25.66% 25.7%
Net Earnings $90.00M $107.0M
YoY Change -15.89% 35.44%
Net Earnings / Revenue 4.1% 5.63%
Basic Earnings Per Share $0.67 $0.77
Diluted Earnings Per Share $0.67 $0.77
COMMON SHARES
Basic Shares Outstanding 133.5M shares 138.5M shares
Diluted Shares Outstanding 133.8M shares 139.0M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.201B $338.0M
YoY Change 551.18% 31.52%
Cash & Equivalents $2.201B $338.0M
Short-Term Investments
Other Short-Term Assets $243.0M $234.0M
YoY Change 3.85% -7.87%
Inventory $1.241B $1.417B
Prepaid Expenses
Receivables $1.142B $707.0M
Other Receivables $244.0M $192.0M
Total Short-Term Assets $3.110B $2.888B
YoY Change 7.69% -0.55%
LONG-TERM ASSETS
Property, Plant & Equipment $3.322B $2.898B
YoY Change 14.63% 6.27%
Goodwill $3.134B
YoY Change
Intangibles $487.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets $833.0M $727.0M
YoY Change 14.58% 6.6%
Total Long-Term Assets $7.590B $6.982B
YoY Change 8.71% -0.77%
TOTAL ASSETS
Total Short-Term Assets $3.110B $2.888B
Total Long-Term Assets $7.590B $6.982B
Total Assets $10.70B $9.870B
YoY Change 8.41% -0.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.009B $2.364B
YoY Change -15.02% 0.64%
Accrued Expenses $774.0M
YoY Change
Deferred Revenue $1.000M
YoY Change
Short-Term Debt $32.00M $37.00M
YoY Change -13.51% -44.78%
Long-Term Debt Due $61.00M $57.00M
YoY Change 7.02% -76.15%
Total Short-Term Liabilities $3.267B $2.496B
YoY Change 30.89% -8.17%
LONG-TERM LIABILITIES
Long-Term Debt $7.778B $5.206B
YoY Change 49.4% -1.64%
Other Long-Term Liabilities $695.0M $713.0M
YoY Change -2.52% 8.69%
Total Long-Term Liabilities $8.473B $5.919B
YoY Change 43.15% -0.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.267B $2.496B
Total Long-Term Liabilities $8.473B $5.919B
Total Liabilities $11.74B $8.415B
YoY Change 39.51% -2.91%
SHAREHOLDERS EQUITY
Retained Earnings $3.013B
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $610.0M $543.0M
YoY Change
Total Liabilities & Shareholders Equity $10.70B $9.870B
YoY Change 8.41% -0.7%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $90.00M $107.0M
YoY Change -15.89% 35.44%
Depreciation, Depletion And Amortization $65.00M $59.00M
YoY Change 10.17% -1.67%
Cash From Operating Activities -$751.0M -$577.0M
YoY Change 30.16% 41.42%
INVESTING ACTIVITIES
Capital Expenditures $92.00M $107.0M
YoY Change -14.02% 109.8%
Acquisitions
YoY Change
Other Investing Activities $150.0M $0.00
YoY Change -100.0%
Cash From Investing Activities $58.00M $153.0M
YoY Change -62.09% -418.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.000M $126.0M
YoY Change -99.21% 4100.0%
Debt Paid & Issued, Net $13.00M $12.00M
YoY Change 8.33% -98.31%
Cash From Financing Activities $2.455B $199.0M
YoY Change 1133.67% -5075.0%
NET CHANGE
Cash From Operating Activities -$751.0M -$577.0M
Cash From Investing Activities $58.00M $153.0M
Cash From Financing Activities $2.455B $199.0M
Net Change In Cash $1.776B -$221.0M
YoY Change -903.62% -51.96%
FREE CASH FLOW
Cash From Operating Activities -$751.0M -$577.0M
Capital Expenditures $92.00M $107.0M
Free Cash Flow -$843.0M -$684.0M
YoY Change 23.25% 49.02%

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CY2017Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
13000000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
199000000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2455000000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
153000000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
58000000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-577000000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-751000000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
107000000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
90000000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
26000000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
23000000 USD
CY2016Q4 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Cumulative Effect Of Change On Equity Or Net Assets1
NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1
60000000 USD
CY2017Q4 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Cumulative Effect Of Change On Equity Or Net Assets1
NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1
10000000 USD
CY2018Q1 us-gaap Objectives For Using Derivative Instruments
ObjectivesForUsingDerivativeInstruments
The Company’s objective in managing exposure to market risk is to limit the impact on earnings and cash flow.
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
225000000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
221000000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
832000000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
875000000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
833000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest
1000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
63000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
55000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
21000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-32000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
110000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
82000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
140000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
61000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
139000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-9000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-11000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
685000000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
744000000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
695000000 USD
CY2017Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
218000000 USD
CY2018Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
244000000 USD
CY2017Q1 us-gaap Payments For Proceeds From Hedge Investing Activities
PaymentsForProceedsFromHedgeInvestingActivities
0 USD
CY2018Q1 us-gaap Payments For Proceeds From Hedge Investing Activities
PaymentsForProceedsFromHedgeInvestingActivities
25000000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
133000000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000 USD
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2018Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
29000000 USD
CY2017Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
13000000 USD
CY2018Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
107000000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
92000000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
588000000 USD
CY2018Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
584000000 USD
CY2017Q1 us-gaap Pension Contributions
PensionContributions
13000000 USD
CY2018Q1 us-gaap Pension Contributions
PensionContributions
5000000 USD
CY2017Q1 us-gaap Pension Expense
PensionExpense
5000000 USD
CY2018Q1 us-gaap Pension Expense
PensionExpense
1000000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
224000000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
243000000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
250000000 USD
CY2017Q1 us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
257000000 USD
CY2018Q1 us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
175000000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
4000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1912000000 USD
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5000000 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
10000000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
351000000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
576000000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
133000000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
113000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3239000000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3322000000 USD
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
1041000000 USD
CY2018Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
1386000000 USD
CY2018Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
1195000000 USD
CY2017Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-8000000 USD
CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-5000000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
12000000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
13000000 USD
CY2016Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
8000000 USD
CY2017Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
8000000 USD
CY2017Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
2000000 USD
CY2018Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
1000000 USD
CY2016Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
9000000 USD
CY2017Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
9000000 USD
CY2017Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
9000000 USD
CY2018Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
9000000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
2000000 USD
CY2018Q1 us-gaap Restructuring Charges
RestructuringCharges
3000000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3100000000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3013000000 USD
CY2017Q1 us-gaap Revenues
Revenues
1901000000 USD
CY2018Q1 us-gaap Revenues
Revenues
2197000000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1901000000 USD
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
2197000000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
90000000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
90000000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4000000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6000000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1053842 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1045821 shares
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
62000000 USD
CY2018Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
32000000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7000000 USD
CY2017Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
140000000 USD
CY2018Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
601000000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
765000000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
610000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
668000000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
859000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
923000000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1112000000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
933000000 USD
CY2017Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
0 USD
CY2018Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
245000000 USD
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
500000 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
300000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139000000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133800000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138500000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133500000 shares

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