2015 Form 10-K Financial Statement

#000113031016000031 Filed on February 26, 2016

View on sec.gov

Income Statement

Concept 2015 2014 Q4 2014 Q3
Revenue $7.386B $2.372B $1.807B
YoY Change -19.94% 8.61% 10.18%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $970.0M $229.0M $293.0M
YoY Change -4.24% 7.51% 18.15%
% of Gross Profit
Operating Expenses $6.348B $2.052B $1.570B
YoY Change -23.54% 1.23% 12.46%
Operating Profit $933.0M $221.0M $233.0M
YoY Change -0.21% 4.74% -4.51%
Interest Expense -$2.140B -$119.0M -$34.00M
YoY Change 2753.33% 12.26% -342.86%
% of Operating Profit -229.37% -53.85% -14.59%
Other Income/Expense, Net -$2.063B $8.000M -$20.00M
YoY Change 4026.0% -93.55% 33.33%
Pretax Income -$1.130B $209.0M $213.0M
YoY Change -227.68% 19.43% -6.99%
Income Tax -$438.0M $33.00M $70.00M
% Of Pretax Income 15.79% 32.86%
Net Earnings -$692.0M $176.0M $143.0M
YoY Change -213.26% 55.75% -5.3%
Net Earnings / Revenue -9.37% 7.42% 7.91%
Basic Earnings Per Share -$1.61 $0.41 $0.33
Diluted Earnings Per Share -$1.61 $0.41 $0.33
COMMON SHARES
Basic Shares Outstanding 430.2M shares 429.8M shares 429.8M shares
Diluted Shares Outstanding 430.2M shares 431.6M shares

Balance Sheet

Concept 2015 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.069B $1.228B $1.070B
YoY Change -12.95% 25.95% 17.84%
Cash & Equivalents $264.0M $298.0M $230.0M
Short-Term Investments $805.0M $930.0M $840.0M
Other Short-Term Assets $508.0M $634.0M $385.0M
YoY Change -19.87% 15.9% 25.0%
Inventory $347.0M $379.0M $409.0M
Prepaid Expenses
Receivables $593.0M $837.0M $712.0M
Other Receivables $172.0M $190.0M $0.00
Total Short-Term Assets $2.689B $3.268B $2.576B
YoY Change -17.72% 22.95% 11.08%
LONG-TERM ASSETS
Property, Plant & Equipment $11.54B $10.50B $10.21B
YoY Change 9.86% 9.48% 8.73%
Goodwill $840.0M $840.0M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $2.594B $4.521B $4.525B
YoY Change -42.62% 0.07% 0.0%
Other Assets $3.267B $147.0M $150.0M
YoY Change -11.85% -9.26% 7.14%
Total Long-Term Assets $18.60B $19.88B $19.47B
YoY Change -6.68% 106.7% 97.28%
TOTAL ASSETS
Total Short-Term Assets $2.689B $3.268B $2.576B
Total Long-Term Assets $18.60B $19.88B $19.47B
Total Assets $21.29B $23.15B $22.05B
YoY Change -8.23% 5.85% 2.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $483.0M $716.0M $441.0M
YoY Change -32.54% 3.92% 21.15%
Accrued Expenses $117.0M $124.0M $110.0M
YoY Change -5.65% 0.0% 10.0%
Deferred Revenue
YoY Change
Short-Term Debt $40.00M $53.00M $80.00M
YoY Change -24.53% 23.26% 14.29%
Long-Term Debt Due $864.0M $795.0M $722.0M
YoY Change 8.68% 59.96% 30.56%
Total Short-Term Liabilities $2.458B $2.792B $3.008B
YoY Change -29.27% -7.52% 15.92%
LONG-TERM LIABILITIES
Long-Term Debt $7.866B $8.009B $7.797B
YoY Change -1.79% 2.46% 0.5%
Other Long-Term Liabilities $2.458B $251.0M $207.0M
YoY Change 1.95% 22.44% -17.53%
Total Long-Term Liabilities $10.32B $8.260B $8.004B
YoY Change -0.92% 23.19% 14.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.458B $2.792B $3.008B
Total Long-Term Liabilities $10.32B $8.260B $8.004B
Total Liabilities $17.83B $11.05B $11.01B
YoY Change -4.41% 13.66% 15.24%
SHAREHOLDERS EQUITY
Retained Earnings $461.0M $387.0M
YoY Change 78.68% 66.09%
Common Stock $4.000M $4.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 166.0 shares 166.0 shares
Shareholders Equity $3.461B $4.548B $4.473B
YoY Change
Total Liabilities & Shareholders Equity $21.29B $23.20B $22.05B
YoY Change -8.23% 6.08% 2.19%

Cashflow Statement

Concept 2015 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income -$692.0M $176.0M $143.0M
YoY Change -213.26% 55.75% -5.3%
Depreciation, Depletion And Amortization $970.0M $229.0M $293.0M
YoY Change -4.24% 7.51% 18.15%
Cash From Operating Activities $1.870B $273.0M $412.0M
YoY Change 33.86% -43.24% 20.47%
INVESTING ACTIVITIES
Capital Expenditures -$1.584B -$374.0M -$373.0M
YoY Change 15.45% 0.0% 14.42%
Acquisitions $0.00
YoY Change
Other Investing Activities -$5.000M $16.00M $6.000M
YoY Change -225.0% -76.0%
Cash From Investing Activities -$1.387B -$358.0M -$367.0M
YoY Change 0.22% -4.28% 21.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $644.0M
YoY Change 19.93%
Cash From Financing Activities -$517.0M 153.0M -21.00M
YoY Change -771.43% -229.66% -93.42%
NET CHANGE
Cash From Operating Activities $1.870B 273.0M 412.0M
Cash From Investing Activities -$1.387B -358.0M -367.0M
Cash From Financing Activities -$517.0M 153.0M -21.00M
Net Change In Cash -$34.00M 68.00M 24.00M
YoY Change -137.78% -718.18% -108.63%
FREE CASH FLOW
Cash From Operating Activities $1.870B $273.0M $412.0M
Capital Expenditures -$1.584B -$374.0M -$373.0M
Free Cash Flow $3.454B $647.0M $785.0M
YoY Change 24.74% -24.33% 17.51%

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CY2014 us-gaap Deferred Income Tax Expense Benefit
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CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
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35000000 USD
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0.06
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1
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CY2015Q4 us-gaap Derivative Liabilities Noncurrent
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CY2015Q4 us-gaap Derivative Liability Fair Value Gross Asset
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CY2014 us-gaap Earnings Per Share Basic
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CY2014Q4 us-gaap Earnings Per Share Diluted
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CY2014 us-gaap Earnings Per Share Diluted
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1.42
CY2015Q1 us-gaap Earnings Per Share Diluted
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0.30
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CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2014 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2015 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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7000000 USD
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7000000 USD
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13000000 USD
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6000000 USD
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6000000 USD
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CY2015Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
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0 USD
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3000000 USD
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14000000 USD
CY2015 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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7000000 USD
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3000000 USD
CY2014 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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CY2015 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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12000000 USD
CY2013 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
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1000000 USD
CY2014 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
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CY2015 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Into Level3
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1000000 USD
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0 USD
CY2014 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3
0 USD
CY2015 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
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1000000 USD
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2000000 USD
CY2013Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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3000000 USD
CY2014Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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17000000 USD
CY2015Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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12000000 USD
CY2014Q4 us-gaap Goodwill
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CY2015Q4 us-gaap Goodwill
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840000000 USD
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781000000 USD
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885000000 USD
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58000000 USD
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2000000 USD
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CY2013 us-gaap Income Tax Expense Benefit
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470000000 USD
CY2014 us-gaap Income Tax Expense Benefit
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274000000 USD
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0 USD
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CY2015 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
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273000000 USD
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310000000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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21000000 USD
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16000000 USD
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190000000 USD
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172000000 USD
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256000000 USD
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152000000 USD
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CY2015 us-gaap Increase Decrease In Accounts Payable
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5000000 USD
CY2014 us-gaap Increase Decrease In Deferred Income Taxes
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32000000 USD
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34000000 USD
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7000000 USD
CY2014 us-gaap Increase Decrease In Income Taxes
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8000000 USD
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190000000 USD
CY2015 us-gaap Increase Decrease In Income Taxes Receivable
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CY2013 us-gaap Increase Decrease In Inventories
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22000000 USD
CY2014 us-gaap Increase Decrease In Inventories
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102000000 USD
CY2015 us-gaap Increase Decrease In Inventories
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CY2013 us-gaap Increase Decrease In Margin Deposits Outstanding
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CY2014 us-gaap Increase Decrease In Margin Deposits Outstanding
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79000000 USD
CY2015 us-gaap Increase Decrease In Margin Deposits Outstanding
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4000000 USD
CY2013 us-gaap Increase Decrease In Other Current Assets
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2000000 USD
CY2014 us-gaap Increase Decrease In Other Current Assets
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CY2015 us-gaap Increase Decrease In Other Current Assets
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CY2013 us-gaap Increase Decrease In Other Current Liabilities
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21000000 USD
CY2014 us-gaap Increase Decrease In Other Current Liabilities
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CY2015 us-gaap Increase Decrease In Other Current Liabilities
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CY2013 us-gaap Increase Decrease In Other Noncurrent Assets
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24000000 USD
CY2014 us-gaap Increase Decrease In Other Noncurrent Assets
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CY2015 us-gaap Increase Decrease In Other Noncurrent Assets
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5000000 USD
CY2013 us-gaap Increase Decrease In Other Noncurrent Liabilities
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20000000 USD
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TransferOfInvestments
1000000 USD
CY2014Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
357000000 USD
CY2015Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
279000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
1000000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
24000000 USD
CY2013 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
1847000000 USD
CY2014 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
1969000000 USD
CY2015 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
2007000000 USD
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
430930000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
431668000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
430180000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
428466000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
429634000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
430180000 shares
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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