$COMM
CommScope Holding Company, Inc.

2017 Q3 Form 10-Q Financial Statement

#000156459017020568 Filed on November 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4 2016 Q3
Revenue $1.129B $1.179B $1.294B
YoY Change -12.77% 3.18% 33.04%
Cost Of Revenue $700.2M $693.4M $751.1M
YoY Change -6.78% -6.74% 18.52%
Gross Profit $428.6M $489.9M $542.9M
YoY Change -21.05% 22.77% 60.18%
Gross Profit Margin 37.97% 41.55% 41.95%
Selling, General & Admin $172.9M $200.1M $206.1M
YoY Change -16.11% -11.89% 1.12%
% of Gross Profit 40.34% 40.85% 37.97%
Research & Development $44.60M $48.80M $48.40M
YoY Change -7.85% -0.61% 55.63%
% of Gross Profit 10.41% 9.96% 8.92%
Depreciation & Amortization $20.60M $97.60M $20.20M
YoY Change 1.98% -6.15% 29.49%
% of Gross Profit 4.81% 19.92% 3.72%
Operating Expenses $285.7M $321.7M $329.2M
YoY Change -13.21% -8.92% 40.13%
Operating Profit $125.4M $119.4M $180.7M
YoY Change -30.61% 453.51% -525.1%
Interest Expense -$60.60M -$61.70M -$67.30M
YoY Change -9.96% 2.83% -191.71%
% of Operating Profit -48.31% -51.67% -37.23%
Other Income/Expense, Net $3.200M -$1.200M -$7.546M
YoY Change -142.41% -94.69% -8.74%
Pretax Income $68.00M $49.40M $105.9M
YoY Change -35.79% -180.98% -186.17%
Income Tax $16.90M -$5.100M $12.00M
% Of Pretax Income 24.85% -10.32% 11.33%
Net Earnings $51.16M $54.47M $93.83M
YoY Change -45.48% -172.48% -216.13%
Net Earnings / Revenue 4.53% 4.62% 7.25%
Basic Earnings Per Share $0.27 $0.28 $0.49
Diluted Earnings Per Share $0.26 $0.28 $0.48
COMMON SHARES
Basic Shares Outstanding 192.9M 192.6M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $411.0M $428.0M $517.0M
YoY Change -20.5% -23.98% -16.34%
Cash & Equivalents $411.2M $428.2M $517.3M
Short-Term Investments
Other Short-Term Assets $167.0M $140.0M $131.0M
YoY Change 27.48% -16.17% -40.45%
Inventory $485.1M $473.3M $476.0M
Prepaid Expenses
Receivables $930.7M $952.4M $967.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.994B $1.994B $2.090B
YoY Change -4.6% -0.54% -11.08%
LONG-TERM ASSETS
Property, Plant & Equipment $477.7M $475.0M $500.0M
YoY Change -4.46% -10.16% -5.67%
Goodwill $2.878B $2.768B
YoY Change 2.89%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $98.56M $105.9M $113.0M
YoY Change -12.78% -19.29% 15.23%
Total Long-Term Assets $5.153B $5.148B $5.322B
YoY Change -3.18% -6.36% -3.42%
TOTAL ASSETS
Total Short-Term Assets $1.994B $1.994B $2.090B
Total Long-Term Assets $5.153B $5.148B $5.322B
Total Assets $7.147B $7.142B $7.412B
YoY Change -3.58% -4.81% -5.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $407.6M $415.9M $418.0M
YoY Change -2.48% 38.26% 24.11%
Accrued Expenses $309.4M $429.4M $372.0M
YoY Change -16.84% 15.51% -10.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.00M $13.00M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $717.0M $857.8M $927.8M
YoY Change -22.72% 25.21% 21.45%
LONG-TERM LIABILITIES
Long-Term Debt $4.548B $4.550B $4.701B
YoY Change -3.26% -13.03% -12.01%
Other Long-Term Liabilities $119.1M $109.8M $115.5M
YoY Change 3.18% -11.54% -4.21%
Total Long-Term Liabilities $4.667B $4.659B $4.817B
YoY Change -3.11% -13.0% -11.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $717.0M $857.8M $927.8M
Total Long-Term Liabilities $4.667B $4.659B $4.817B
Total Liabilities $5.596B $5.748B $5.978B
YoY Change -6.4% -8.47% -8.63%
SHAREHOLDERS EQUITY
Retained Earnings -$449.6M -$589.6M -$644.0M
YoY Change -30.19% -27.43% -12.65%
Common Stock $2.325B $2.284B $2.261B
YoY Change 2.83% 2.97% 2.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $205.2M $15.21M $14.28M
YoY Change 1336.84% 34.22% 34.26%
Treasury Stock Shares $6.323M $1.129M $1.102M
Shareholders Equity $1.551B $1.394B $1.433B
YoY Change
Total Liabilities & Shareholders Equity $7.147B $7.142B $7.412B
YoY Change -3.58% -4.81% -5.72%

Cashflow Statement

Concept 2017 Q3 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $51.16M $54.47M $93.83M
YoY Change -45.48% -172.48% -216.13%
Depreciation, Depletion And Amortization $20.60M $97.60M $20.20M
YoY Change 1.98% -6.15% 29.49%
Cash From Operating Activities $145.4M $89.10M $282.5M
YoY Change -48.53% -36.99% 151.33%
INVESTING ACTIVITIES
Capital Expenditures $20.60M -$18.60M $17.50M
YoY Change 17.71% 8.77% -214.38%
Acquisitions
YoY Change
Other Investing Activities -$102.1M $3.600M -$1.600M
YoY Change 6281.25% -108.98% -99.24%
Cash From Investing Activities -$122.7M -$15.10M -$19.00M
YoY Change 545.79% -73.6% -91.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -99.80M -150.3M -262.8M
YoY Change -62.02% 13.18% 373.51%
NET CHANGE
Cash From Operating Activities 145.4M 89.10M 282.5M
Cash From Investing Activities -122.7M -15.10M -19.00M
Cash From Financing Activities -99.80M -150.3M -262.8M
Net Change In Cash -77.10M -76.30M 700.0K
YoY Change -11114.29% 57.0% -100.41%
FREE CASH FLOW
Cash From Operating Activities $145.4M $89.10M $282.5M
Capital Expenditures $20.60M -$18.60M $17.50M
Free Cash Flow $124.8M $107.7M $265.0M
YoY Change -52.91% -32.05% 107.52%

Facts In Submission

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GoodwillForeignCurrencyTranslationGainLoss
59900000
CY2017Q3 us-gaap Goodwill Gross
GoodwillGross
3088800000
CY2016Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
211000000
CY2017Q3 us-gaap Inventory Raw Materials Net Of Reserves
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CY2016Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
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CY2017Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2016Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2017Q3 us-gaap Inventory Finished Goods Net Of Reserves
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CY2016Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2016Q4 us-gaap Employee Related Liabilities Current
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CY2017Q3 us-gaap Restructuring Reserve Current
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17479000
CY2016Q4 us-gaap Restructuring Reserve Current
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30438000
CY2017Q3 us-gaap Taxes Payable Current
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16378000
CY2016Q4 us-gaap Taxes Payable Current
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49984000
CY2017Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
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CY2016Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
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CY2017Q3 us-gaap Accrued Professional Fees Current
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CY2016Q4 us-gaap Accrued Professional Fees Current
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CY2017Q3 us-gaap Other Sundry Liabilities Current
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78511000
CY2016Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
97470000
us-gaap Income Taxes Paid Net
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102952000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
73752000
us-gaap Interest Paid
InterestPaid
133797000
us-gaap Interest Paid
InterestPaid
157024000
CY2017Q3 us-gaap Debt Instrument Carrying Amount
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4621250000
CY2016Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4646250000
CY2017Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
4282000
CY2016Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
5857000
CY2017Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
68952000
CY2016Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
78383000
CY2017Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
650000000
CY2017Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
3971300000
CY2017Q3 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0534
CY2016Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0524
CY2017Q3 comm Segment Adjusted Operating Income
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223500000
CY2016Q3 comm Segment Adjusted Operating Income
SegmentAdjustedOperatingIncome
296700000
comm Segment Adjusted Operating Income
SegmentAdjustedOperatingIncome
683200000
comm Segment Adjusted Operating Income
SegmentAdjustedOperatingIncome
799100000
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
11000000
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
8400000
CY2017Q3 comm Transaction And Integration Charges
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12000000
CY2016Q3 comm Transaction And Integration Charges
TransactionAndIntegrationCharges
14800000
comm Transaction And Integration Charges
TransactionAndIntegrationCharges
38200000
comm Transaction And Integration Charges
TransactionAndIntegrationCharges
45100000
comm Purchase Accounting Adjustments
PurchaseAccountingAdjustments
600000
CY2017Q3 us-gaap Depreciation
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20600000
CY2016Q3 us-gaap Depreciation
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20200000
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
40.23
CY2017Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
0
CY2017Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
70600000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y4M25D
CY2017Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31572000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26621000
us-gaap Depreciation
Depreciation
60800000
us-gaap Depreciation
Depreciation
60200000
CY2017Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20600000
CY2016Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17500000
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
25422000
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
39472000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
100000000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2500000

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