2018 Q4 Form 10-Q Financial Statement

#000167770318000043 Filed on November 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $1.282B $1.304B $1.493B
YoY Change -14.13% -11.89% -1.39%
Cost Of Revenue $835.0M $1.005B $1.211B
YoY Change -31.05% -17.56% -12.94%
Gross Profit $447.0M $250.0M $282.0M
YoY Change 58.51% -4.21% 129.27%
Gross Profit Margin 34.87% 19.17% 18.89%
Selling, General & Admin $124.0M $139.0M $149.0M
YoY Change -16.78% -3.47% -11.83%
% of Gross Profit 27.74% 55.6% 52.84%
Research & Development $3.000M $2.000M $2.000M
YoY Change 50.0% -50.0% -66.67%
% of Gross Profit 0.67% 0.8% 0.71%
Depreciation & Amortization $113.0M $113.0M $117.0M
YoY Change -3.42% -8.13% -40.31%
% of Gross Profit 25.28% 45.2% 41.49%
Operating Expenses $410.0M $141.0M $218.0M
YoY Change 88.07% -4.73% -9.92%
Operating Profit $37.00M $109.0M $64.00M
YoY Change -42.19% -3.54% -153.78%
Interest Expense -$20.00M $22.00M -$32.00M
YoY Change -37.5% -37.14% 540.0%
% of Operating Profit -54.05% 20.18% -50.0%
Other Income/Expense, Net
YoY Change
Pretax Income -$143.0M -$252.0M $4.000M
YoY Change -3675.0% -2038.46% -100.35%
Income Tax -$3.000M -$15.00M -$6.000M
% Of Pretax Income -150.0%
Net Earnings -$140.0M -$237.0M $208.0M
YoY Change -167.31% 1294.12% -121.87%
Net Earnings / Revenue -10.92% -18.17% 13.93%
Basic Earnings Per Share -$1.16
Diluted Earnings Per Share -$676.3K -$1.16 $966.1K
COMMON SHARES
Basic Shares Outstanding 211.3M shares 206.6M shares 210.4M shares
Diluted Shares Outstanding 206.6M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $756.0M $586.0M $658.0M
YoY Change 14.89% 25.21% 68.72%
Cash & Equivalents $756.0M $586.0M $658.0M
Short-Term Investments
Other Short-Term Assets $234.0M $230.0M $181.0M
YoY Change 29.28% -1.29% -24.9%
Inventory
Prepaid Expenses
Receivables $782.0M $951.0M $1.114B
Other Receivables $6.000M $0.00 $0.00
Total Short-Term Assets $1.964B $1.993B $2.710B
YoY Change -27.53% -5.63% 41.37%
LONG-TERM ASSETS
Property, Plant & Equipment $328.0M $297.0M $257.0M
YoY Change 27.63% 19.28% -9.19%
Goodwill $3.408B $3.417B $3.366B
YoY Change 1.25% -12.36% -13.45%
Intangibles $651.0M $711.0M $891.0M
YoY Change -26.94% -25.86% -22.12%
Long-Term Investments
YoY Change
Other Assets $329.0M $312.0M $324.0M
YoY Change 1.54% -4.88% -31.93%
Total Long-Term Assets $4.716B $4.737B $4.838B
YoY Change -2.52% -12.84% -16.47%
TOTAL ASSETS
Total Short-Term Assets $1.964B $1.993B $2.710B
Total Long-Term Assets $4.716B $4.737B $4.838B
Total Assets $6.680B $6.730B $7.548B
YoY Change -11.5% -10.83% -2.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $230.0M $216.0M $118.0M
YoY Change 94.92% 46.94% -28.05%
Accrued Expenses $193.0M $233.0M $335.0M
YoY Change -42.39% 5.43% 24.54%
Deferred Revenue $112.0M $119.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $55.00M $49.00M $82.00M
YoY Change -32.93% -30.99% 192.86%
Total Short-Term Liabilities $1.197B $1.251B $1.368B
YoY Change -12.5% 3.05% -2.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.512B $1.528B $1.979B
YoY Change -23.6% -23.25% 3.45%
Other Long-Term Liabilities $280.0M $130.0M $146.0M
YoY Change 91.78% -1.52% -15.61%
Total Long-Term Liabilities $280.0M $130.0M $146.0M
YoY Change 91.78% -1.52% -15.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.197B $1.251B $1.368B
Total Long-Term Liabilities $280.0M $130.0M $146.0M
Total Liabilities $3.316B $3.229B $3.877B
YoY Change -14.47% -21.11% -9.39%
SHAREHOLDERS EQUITY
Retained Earnings -$233.0M -$90.00M $171.0M
YoY Change -236.26% 164.71%
Common Stock $2.000M $2.000M $3.852B
YoY Change -99.95% 0.0% 1.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.222B $3.359B $3.529B
YoY Change
Total Liabilities & Shareholders Equity $6.680B $6.730B $7.548B
YoY Change -11.5% -10.83% -2.09%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$140.0M -$237.0M $208.0M
YoY Change -167.31% 1294.12% -121.87%
Depreciation, Depletion And Amortization $113.0M $113.0M $117.0M
YoY Change -3.42% -8.13% -40.31%
Cash From Operating Activities $253.0M -$30.00M $235.0M
YoY Change 7.66% -128.85% 60.96%
INVESTING ACTIVITIES
Capital Expenditures -$74.00M $43.00M -$49.00M
YoY Change 51.02% 115.0% -30.99%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $1.000M
YoY Change -100.0% -100.0% -99.54%
Cash From Investing Activities -$74.00M $212.0M -$48.00M
YoY Change 54.17% 50.35% -133.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $484.0M
YoY Change 512.66%
Cash From Financing Activities -10.00M -587.0M -13.00M
YoY Change -23.08% 582.56% -71.11%
NET CHANGE
Cash From Operating Activities 253.0M -30.00M 235.0M
Cash From Investing Activities -74.00M 212.0M -48.00M
Cash From Financing Activities -10.00M -587.0M -13.00M
Net Change In Cash 169.0M -$408.0M 174.0M
YoY Change -2.87% -356.6% -29.27%
FREE CASH FLOW
Cash From Operating Activities $253.0M -$30.00M $235.0M
Capital Expenditures -$74.00M $43.00M -$49.00M
Free Cash Flow $327.0M -$73.00M $284.0M
YoY Change 15.14% -186.9% 30.88%

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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Gross Profit
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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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 Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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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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PaymentsToAcquirePropertyPlantAndEquipment
57000000 USD
CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
43000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
119000000 USD
CY2017Q3 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
11000000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
26000000 USD
CY2018Q3 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
17000000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
31000000 USD
CY2016 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.08
CY2017Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2000000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
7000000 USD
CY2018Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2000000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
7000000 USD
CY2016Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
120000000 USD
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
120000 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
120000 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
120000 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
142000000 USD
CY2017Q3 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
56000000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
56000000 USD
CY2018Q3 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
272000000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
672000000 USD
CY2017Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
306000000 USD
CY2018Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2017Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3000000 USD
CY2018Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2017Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
33000000 USD
CY2018Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
12000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
257000000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
297000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-105000000 USD
CY2018Q3 us-gaap Redemption Premium
RedemptionPremium
95000000 USD
CY2018Q3 us-gaap Repayments Of Debt
RepaymentsOfDebt
476000000 USD
CY2017Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
79000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
232000000 USD
CY2018Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
484000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
513000000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11000000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8000000 USD
CY2017Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
25000000 USD
CY2016Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
26000000 USD
CY2017Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
25000000 USD
CY2017Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
25000000 USD
CY2017Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
9000000 USD
CY2018Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
10000000 USD
CY2018Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
9000000 USD
us-gaap Restructuring Charges
RestructuringCharges
75000000 USD
us-gaap Restructuring Charges
RestructuringCharges
67000000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
21000000 USD
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
40000000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
44000000 USD
CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
60000000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-7000000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
1000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
171000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-90000000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1304000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4111000000 USD
us-gaap Revenue Recognition Milestone Method Revenue Recognized
RevenueRecognitionMilestoneMethodRevenueRecognized
128000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2000000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P2Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.66
CY2017Q3 us-gaap Revenues
Revenues
1480000000 USD
us-gaap Revenues
Revenues
4529000000 USD
CY2018Q3 us-gaap Revenues
Revenues
1304000000 USD
us-gaap Revenues
Revenues
4111000000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
144000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
466000000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
142000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
436000000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
8000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
26000000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
11000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
30000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3529000000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
3359000000 USD
CY2017Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
142000000 USD
CY2018Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
142000000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
204356000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
203838000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
206605000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
205739000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
204356000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
203838000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
206605000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
205739000 shares
CY2018Q3 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
3000000 USD

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