2014 Q4 Form 10-K Financial Statement

#000109166715000049 Filed on February 24, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4 2013 Q3
Revenue $2.360B $2.148B $2.118B
YoY Change 9.87% 12.28% 12.66%
Cost Of Revenue $1.404B $1.266B $1.266B
YoY Change 10.9% 3.09% 47.55%
Gross Profit $956.0M $882.0M $852.0M
YoY Change 8.39% 28.76% -16.63%
Gross Profit Margin 40.51% 41.06% 40.23%
Selling, General & Admin $125.0M $129.0M $131.0M
YoY Change -3.1% -65.89%
% of Gross Profit 13.08% 14.63% 15.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $534.0M $500.0M $493.0M
YoY Change 6.8% 7.3% 16.27%
% of Gross Profit 55.86% 56.69% 57.86%
Operating Expenses $659.0M $629.0M $1.397B
YoY Change 4.77% 34.98% 12.48%
Operating Profit $277.0M $244.0M $209.0M
YoY Change 13.52% 18.45% -0.95%
Interest Expense -$277.0M -$209.0M $214.0M
YoY Change 32.54% -3.24% -6.55%
% of Operating Profit -100.0% -85.66% 102.39%
Other Income/Expense, Net -$222.0M
YoY Change -3.06%
Pretax Income $0.00 $35.00M -$13.00M
YoY Change -100.0% 288.89% -27.78%
Income Tax $48.00M -$4.000M $57.00M
% Of Pretax Income -11.43%
Net Earnings -$48.00M $39.00M -$70.00M
YoY Change -223.08% -197.5% -19.54%
Net Earnings / Revenue -2.03% 1.82% -3.31%
Basic Earnings Per Share $0.38
Diluted Earnings Per Share -$480.0K $0.35 -$752.7K
COMMON SHARES
Basic Shares Outstanding 112.0M shares 103.8M shares 104.1M shares
Diluted Shares Outstanding 111.4M shares

Balance Sheet

Concept 2014 Q4 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.000M $21.00M $41.00M
YoY Change -85.71% 200.0% -95.28%
Cash & Equivalents $3.000M $21.00M $41.00M
Short-Term Investments
Other Short-Term Assets $57.00M $67.00M $81.00M
YoY Change -14.93% -24.72% -24.3%
Inventory
Prepaid Expenses
Receivables $285.0M $234.0M $235.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $345.0M $322.0M $357.0M
YoY Change 7.14% -2.42% -70.95%
LONG-TERM ASSETS
Property, Plant & Equipment $8.373B $7.981B $7.838B
YoY Change 4.91% 10.75% 9.48%
Goodwill $1.168B $1.177B $1.159B
YoY Change -0.76% 23.5% 21.62%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $280.0M $417.0M $422.0M
YoY Change -32.85% 5.3% 11.94%
Total Long-Term Assets $24.04B $16.97B $16.89B
YoY Change 41.65% 11.18% 10.64%
TOTAL ASSETS
Total Short-Term Assets $345.0M $322.0M $357.0M
Total Long-Term Assets $24.04B $16.97B $16.89B
Total Assets $24.39B $17.30B $17.25B
YoY Change 41.01% 10.89% 4.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $140.0M $91.00M $81.00M
YoY Change 53.85% -14.95% -48.41%
Accrued Expenses $1.410B $1.286B $1.211B
YoY Change 9.64% 24.13% 11.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $1.635B $1.467B $1.382B
YoY Change 11.45% 19.85% -34.69%
LONG-TERM LIABILITIES
Long-Term Debt $20.89B $14.18B $14.31B
YoY Change 47.29% 10.72% 11.59%
Other Long-Term Liabilities $72.00M $65.00M $69.00M
YoY Change 10.77% -30.85% -79.34%
Total Long-Term Liabilities $20.96B $14.25B $14.38B
YoY Change 47.12% 10.42% 9.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.635B $1.467B $1.382B
Total Long-Term Liabilities $20.96B $14.25B $14.38B
Total Liabilities $22.59B $15.71B $15.76B
YoY Change 43.79% 11.23% 3.19%
SHAREHOLDERS EQUITY
Retained Earnings -$1.762B -$1.568B -$1.600B
YoY Change 12.37% 12.64% 18.69%
Common Stock $1.930B $1.760B $1.720B
YoY Change 9.66% 8.91% 7.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $0.00 $11.00M
YoY Change 1000.0%
Treasury Stock Shares 0.000 shares 0.000 shares 113.3K shares
Shareholders Equity $146.0M $151.0M $61.00M
YoY Change
Total Liabilities & Shareholders Equity $24.39B $17.30B $17.25B
YoY Change 41.01% 10.89% 4.56%

Cashflow Statement

Concept 2014 Q4 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$48.00M $39.00M -$70.00M
YoY Change -223.08% -197.5% -19.54%
Depreciation, Depletion And Amortization $534.0M $500.0M $493.0M
YoY Change 6.8% 7.3% 16.27%
Cash From Operating Activities $630.0M $595.0M $538.0M
YoY Change 5.88% 22.68% 14.96%
INVESTING ACTIVITIES
Capital Expenditures -$543.0M -$566.0M -$425.0M
YoY Change -4.06% 26.06% -12.91%
Acquisitions $1.625B
YoY Change
Other Investing Activities -$3.596B $49.00M -$655.0M
YoY Change -7438.78% -644.44% 10816.67%
Cash From Investing Activities -$4.139B -$517.0M -$1.080B
YoY Change 700.58% 12.88% 118.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.502B -98.00M 539.0M
YoY Change -3673.47% -88.96% -39.37%
NET CHANGE
Cash From Operating Activities 630.0M 595.0M 538.0M
Cash From Investing Activities -4.139B -517.0M -1.080B
Cash From Financing Activities 3.502B -98.00M 539.0M
Net Change In Cash -7.000M -20.00M -3.000M
YoY Change -65.0% -97.68% -100.35%
FREE CASH FLOW
Cash From Operating Activities $630.0M $595.0M $538.0M
Capital Expenditures -$543.0M -$566.0M -$425.0M
Free Cash Flow $1.173B $1.161B $963.0M
YoY Change 1.03% 24.3% 0.73%

Facts In Submission

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CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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1745000000 USD
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CY2014Q4 us-gaap Preferred Stock Shares Authorized
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CY2014Q4 us-gaap Preferred Stock Shares Issued
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CY2014Q4 us-gaap Preferred Stock Shares Outstanding
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CY2013Q4 us-gaap Preferred Stock Value
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CY2014Q4 us-gaap Preferred Stock Value
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CY2014 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 USD
CY2012 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
0 USD
CY2013 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
0 USD
CY2014 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
0 USD
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
5830000000 USD
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
6782000000 USD
CY2014 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
8806000000 USD
CY2013 us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
104000000 USD
CY2014 us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
123000000 USD
CY2012 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
0 USD
CY2013 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
0 USD
CY2014 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
0 USD
CY2012 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-14000000 USD
CY2013 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2000000 USD
CY2014 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
3000000 USD
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
15000000 USD
CY2012 us-gaap Profit Loss
ProfitLoss
-304000000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
-42000000 USD
CY2013Q2 us-gaap Profit Loss
ProfitLoss
-96000000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
-70000000 USD
CY2013Q4 us-gaap Profit Loss
ProfitLoss
39000000 USD
CY2013 us-gaap Profit Loss
ProfitLoss
-169000000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
-37000000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
-45000000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
-53000000 USD
CY2014Q4 us-gaap Profit Loss
ProfitLoss
-48000000 USD
CY2014 us-gaap Profit Loss
ProfitLoss
-183000000 USD
CY2013Q4 us-gaap Program Rights Obligations Current
ProgramRightsObligationsCurrent
379000000 USD
CY2014Q4 us-gaap Program Rights Obligations Current
ProgramRightsObligationsCurrent
430000000 USD
CY2013 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
515000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12768000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13857000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7981000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8373000000 USD
CY2012 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
105000000 USD
CY2013 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
101000000 USD
CY2014 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
122000000 USD
CY2012 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
247000000 USD
CY2013 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
305000000 USD
CY2014 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
346000000 USD
CY2012 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5901000000 USD
CY2013 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6520000000 USD
CY2014 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1980000000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
0 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
7111000000 USD
CY2012 us-gaap Revenues
Revenues
7504000000 USD
CY2013Q1 us-gaap Revenues
Revenues
1917000000 USD
CY2013Q2 us-gaap Revenues
Revenues
1972000000 USD
CY2013Q3 us-gaap Revenues
Revenues
2118000000 USD
CY2013Q4 us-gaap Revenues
Revenues
2148000000 USD
CY2013 us-gaap Revenues
Revenues
8155000000 USD
CY2014Q1 us-gaap Revenues
Revenues
2202000000 USD
CY2014Q2 us-gaap Revenues
Revenues
2259000000 USD
CY2014Q3 us-gaap Revenues
Revenues
2287000000 USD
CY2014Q4 us-gaap Revenues
Revenues
2360000000 USD
CY2014 us-gaap Revenues
Revenues
9108000000 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.015
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.015
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.384
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.378
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.369
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
14000000 shares
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y4M
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y4M
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y6M
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
104000000 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
123000000 USD
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
15000000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
151000000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
146000000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
409000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
149000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
151000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
146000000 USD
CY2012 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
0 USD
CY2013 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
0 USD
CY2014 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
0 USD
CY2012 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
11000000 USD
CY2013 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
15000000 USD
CY2014 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
19000000 USD
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111415982 shares
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
99657989 shares
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
100327418 shares
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
100600678 shares
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
102924443 shares
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
101934630 shares
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
106439198 shares
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
107975937 shares
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
108792605 shares
CY2014Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
110242507 shares
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
108374160 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103836535 shares
CY2014 us-gaap Revenue Recognition Multiple Element Arrangements
RevenueRecognitionMultipleElementArrangements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Multiple-Element Transactions </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the normal course of business, the Company enters into multiple-element transactions where it is simultaneously both a customer and a vendor with the same counterparty or in which it purchases multiple products and/or services, or settles outstanding items contemporaneous with the purchase of a product or service from a single counterparty. Transactions, although negotiated contemporaneously, may be documented in one or more contracts. The Company&#8217;s policy for accounting for each transaction negotiated contemporaneously is to record each element of the transaction based on the respective estimated fair values of the products or services purchased and the products or services sold. In determining the fair value of the respective elements, the Company refers to quoted market prices (where available), historical transactions or comparable cash transactions. </font></div></div>

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