2018 Q2 Form 10-Q Financial Statement

#000167770318000033 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $1.387B $1.496B
YoY Change -7.29% -7.25%
Cost Of Revenue $1.073B $1.253B
YoY Change -14.37% -7.05%
Gross Profit $262.0M $243.0M
YoY Change 7.82% -8.3%
Gross Profit Margin 18.89% 16.24%
Selling, General & Admin $145.0M $153.0M
YoY Change -5.23% -10.0%
% of Gross Profit 55.34% 62.96%
Research & Development $3.000M $3.000M
YoY Change 0.0% -62.5%
% of Gross Profit 1.15% 1.23%
Depreciation & Amortization $117.0M $130.0M
YoY Change -10.0% -2.99%
% of Gross Profit 44.66% 53.5%
Operating Expenses $148.0M $156.0M
YoY Change -5.13% -12.36%
Operating Profit $114.0M $87.00M
YoY Change 31.03% 0.0%
Interest Expense $37.00M $34.00M
YoY Change 8.82% 3300.0%
% of Operating Profit 32.46% 39.08%
Other Income/Expense, Net
YoY Change
Pretax Income $54.00M -$11.00M
YoY Change -590.91% -67.65%
Income Tax $43.00M -$7.000M
% Of Pretax Income 79.63%
Net Earnings $11.00M -$4.000M
YoY Change -375.0% -60.0%
Net Earnings / Revenue 0.79% -0.27%
Basic Earnings Per Share $0.05 -$0.03
Diluted Earnings Per Share $0.04 -$0.03
COMMON SHARES
Basic Shares Outstanding 205.3M shares 203.7M shares
Diluted Shares Outstanding 208.9M shares 203.7M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $993.0M $309.0M
YoY Change 221.36% 93.13%
Cash & Equivalents $993.0M $309.0M
Short-Term Investments
Other Short-Term Assets $229.0M $264.0M
YoY Change -13.26% -2.22%
Inventory
Prepaid Expenses
Receivables $930.0M $1.374B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.661B $1.986B
YoY Change 33.99% -3.59%
LONG-TERM ASSETS
Property, Plant & Equipment $276.0M $262.0M
YoY Change 5.34% -2.24%
Goodwill $3.424B $3.921B
YoY Change -12.68%
Intangibles $771.0M $1.023B
YoY Change -24.63%
Long-Term Investments
YoY Change
Other Assets $304.0M $456.0M
YoY Change -33.33% -16.18%
Total Long-Term Assets $4.775B $5.662B
YoY Change -15.67% -18.61%
TOTAL ASSETS
Total Short-Term Assets $2.661B $1.986B
Total Long-Term Assets $4.775B $5.662B
Total Assets $7.436B $7.648B
YoY Change -2.77% -15.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $158.0M $106.0M
YoY Change 49.06% -91.24%
Accrued Expenses $297.0M $247.0M
YoY Change 20.24% -7.49%
Deferred Revenue $129.0M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $43.00M $59.00M
YoY Change -27.12% 168.18%
Total Short-Term Liabilities $1.313B $1.212B
YoY Change 8.33% -49.42%
LONG-TERM LIABILITIES
Long-Term Debt $2.001B $2.071B
YoY Change -3.38% 7041.38%
Other Long-Term Liabilities $135.0M $143.0M
YoY Change -5.59% -52.17%
Total Long-Term Liabilities $135.0M $143.0M
YoY Change -5.59% -56.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.313B $1.212B
Total Long-Term Liabilities $135.0M $143.0M
Total Liabilities $3.795B $4.189B
YoY Change -9.41% 19.31%
SHAREHOLDERS EQUITY
Retained Earnings $144.0M -$15.00M
YoY Change -1060.0%
Common Stock $2.000M $2.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.499B $3.317B
YoY Change
Total Liabilities & Shareholders Equity $7.436B $7.648B
YoY Change -2.77% -15.18%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $11.00M -$4.000M
YoY Change -375.0% -60.0%
Depreciation, Depletion And Amortization $117.0M $130.0M
YoY Change -10.0% -2.99%
Cash From Operating Activities $98.00M $67.00M
YoY Change 46.27% -209.84%
INVESTING ACTIVITIES
Capital Expenditures $43.00M $20.00M
YoY Change 115.0% -20.0%
Acquisitions
YoY Change
Other Investing Activities $412.0M $0.00
YoY Change -100.0%
Cash From Investing Activities $361.0M $6.000M
YoY Change 5916.67% -119.35%
FINANCING ACTIVITIES
Cash Dividend Paid $3.000M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $8.000M $9.000M
YoY Change -11.11% 50.0%
Cash From Financing Activities -13.00M -19.00M
YoY Change -31.58% -117.27%
NET CHANGE
Cash From Operating Activities 98.00M 67.00M
Cash From Investing Activities 361.0M 6.000M
Cash From Financing Activities -13.00M -19.00M
Net Change In Cash $440.0M $54.00M
YoY Change 714.81% 200.0%
FREE CASH FLOW
Cash From Operating Activities $98.00M $67.00M
Capital Expenditures $43.00M $20.00M
Free Cash Flow $55.00M $47.00M
YoY Change 17.02% -154.65%

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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Preferred Stock Dividends And Other Adjustments
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
257000000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
276000000 USD
CY2017Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
9000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
153000000 USD
CY2018Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
8000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
29000000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7000000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5000000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
25000000 USD
CY2017Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
25000000 USD
CY2018Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
10000000 USD
us-gaap Restructuring Charges
RestructuringCharges
45000000 USD
us-gaap Restructuring Charges
RestructuringCharges
38000000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
21000000 USD
CY2017Q2 us-gaap Restructuring Reserve
RestructuringReserve
42000000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
44000000 USD
CY2018Q2 us-gaap Restructuring Reserve
RestructuringReserve
48000000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
1000000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-2000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
171000000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
144000000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1387000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2807000000 USD
CY2018Q2 us-gaap Revenue Recognition Milestone Method Revenue Recognized
RevenueRecognitionMilestoneMethodRevenueRecognized
98000000 USD
us-gaap Revenue Recognition Milestone Method Revenue Recognized
RevenueRecognitionMilestoneMethodRevenueRecognized
181000000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2400000000 USD
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P2Y
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1496000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
3049000000 USD
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1387000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2807000000 USD
CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1496000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
3049000000 USD
CY2018Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1387000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2807000000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
153000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
322000000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
149000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
294000000 USD
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
12000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
18000000 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
12000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
19000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3529000000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
3499000000 USD
CY2017Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
142000000 USD
CY2018Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
142000000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
203673000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
203522000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
208889000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
205184000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
203673000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
203522000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
205296000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
205184000 shares
CY2018Q2 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
3000000 USD

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