$COMM
CommScope Holding Company, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019041186 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $2.380B $1.150B
YoY Change 106.9% 1.92%
Cost Of Revenue $1.770B $740.7M
YoY Change 139.0% 5.78%
Gross Profit $609.9M $409.7M
YoY Change 48.87% -4.41%
Gross Profit Margin 25.62% 35.61%
Selling, General & Admin $305.8M $159.8M
YoY Change 91.36% -7.58%
% of Gross Profit 50.14% 39.0%
Research & Development $171.5M $44.80M
YoY Change 282.81% 0.45%
% of Gross Profit 28.12% 10.93%
Depreciation & Amortization $43.30M $18.70M
YoY Change 131.55% -9.22%
% of Gross Profit 7.1% 4.56%
Operating Expenses $660.7M $277.5M
YoY Change 138.09% -2.87%
Operating Profit -$50.80M $132.2M
YoY Change -138.43% 5.4%
Interest Expense $160.7M $66.10M
YoY Change 143.12% -209.08%
% of Operating Profit 50.0%
Other Income/Expense, Net $1.500M -$2.400M
YoY Change -162.5% -175.0%
Pretax Income -$208.2M $65.60M
YoY Change -417.38% -3.53%
Income Tax -$51.70M $1.800M
% Of Pretax Income 2.74%
Net Earnings -$156.5M $63.80M
YoY Change -345.3% 24.71%
Net Earnings / Revenue -6.58% 5.55%
Basic Earnings Per Share -$0.88 $0.33
Diluted Earnings Per Share -$0.88 $0.33
COMMON SHARES
Basic Shares Outstanding 194.1M 192.2M
Diluted Shares Outstanding 194.1M 195.4M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $609.0M $352.0M
YoY Change 73.01% -14.36%
Cash & Equivalents $609.1M $352.4M
Short-Term Investments
Other Short-Term Assets $246.0M $124.0M
YoY Change 98.39% -25.75%
Inventory $1.169B $491.0M
Prepaid Expenses
Receivables $1.779B $901.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.803B $1.868B
YoY Change 103.57% -6.32%
LONG-TERM ASSETS
Property, Plant & Equipment $737.0M $446.0M
YoY Change 65.25% -6.64%
Goodwill $5.723B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $417.9M $126.0M
YoY Change 231.67% 27.84%
Total Long-Term Assets $11.37B $4.850B
YoY Change 134.46% -5.87%
TOTAL ASSETS
Total Short-Term Assets $3.803B $1.868B
Total Long-Term Assets $11.37B $4.850B
Total Assets $15.17B $6.718B
YoY Change 125.87% -6.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.226B $441.0M
YoY Change 178.1% 8.19%
Accrued Expenses $644.0M $278.0M
YoY Change 131.65% -10.14%
Deferred Revenue $80.20M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $32.00M
YoY Change
Total Short-Term Liabilities $2.041B $765.0M
YoY Change 166.76% 6.7%
LONG-TERM LIABILITIES
Long-Term Debt $10.10B $3.984B
YoY Change 153.54% -12.4%
Other Long-Term Liabilities $552.1M $117.0M
YoY Change 371.88% -1.8%
Total Long-Term Liabilities $10.65B $4.101B
YoY Change 159.77% -12.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.041B $765.0M
Total Long-Term Liabilities $10.65B $4.101B
Total Liabilities $12.96B $4.963B
YoY Change 161.19% -11.31%
SHAREHOLDERS EQUITY
Retained Earnings -$742.6M
YoY Change
Common Stock $2.427B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $233.6M
YoY Change
Treasury Stock Shares $7.346M
Shareholders Equity $1.211B $1.755B
YoY Change
Total Liabilities & Shareholders Equity $15.17B $6.718B
YoY Change 125.87% -6.0%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$156.5M $63.80M
YoY Change -345.3% 24.71%
Depreciation, Depletion And Amortization $43.30M $18.70M
YoY Change 131.55% -9.22%
Cash From Operating Activities $522.0M $226.8M
YoY Change 130.16% 55.98%
INVESTING ACTIVITIES
Capital Expenditures $24.30M $24.50M
YoY Change -0.82% 18.93%
Acquisitions
YoY Change
Other Investing Activities $700.0K $6.400M
YoY Change -89.06% -106.27%
Cash From Investing Activities -$23.60M -$18.10M
YoY Change 30.39% -85.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -232.3M -400.0M
YoY Change -41.92% 300.8%
NET CHANGE
Cash From Operating Activities 522.0M 226.8M
Cash From Investing Activities -23.60M -18.10M
Cash From Financing Activities -232.3M -400.0M
Net Change In Cash 266.1M -191.3M
YoY Change -239.1% 148.12%
FREE CASH FLOW
Cash From Operating Activities $522.0M $226.8M
Capital Expenditures $24.30M $24.50M
Free Cash Flow $497.7M $202.3M
YoY Change 146.02% 62.1%

Facts In Submission

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8000000.0
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
32000000.0
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
482000000.0
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
32000000.0
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
32000000.0
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
9714000000.0
CY2019Q3 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0618
CY2018Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0573
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5
CY2019Q3 us-gaap Assets
Assets
15173800000
CY2018Q4 us-gaap Assets
Assets
6630500000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2380200000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1150400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6046400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3510800000
CY2019Q3 comm Segment Adjusted Ebitda
SegmentAdjustedEBITDA
369800000
CY2018Q3 comm Segment Adjusted Ebitda
SegmentAdjustedEBITDA
237800000
comm Segment Adjusted Ebitda
SegmentAdjustedEBITDA
973800000
comm Segment Adjusted Ebitda
SegmentAdjustedEBITDA
717000000.0
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
11300000
us-gaap Share Based Compensation
ShareBasedCompensation
58700000
us-gaap Share Based Compensation
ShareBasedCompensation
33700000
CY2019Q3 comm Transaction And Integration Charges
TransactionAndIntegrationCharges
2200000
CY2018Q3 comm Transaction And Integration Charges
TransactionAndIntegrationCharges
2700000
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
65800000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
387300000
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
163900000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-50800000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
132200000
us-gaap Operating Income Loss
OperatingIncomeLoss
-169200000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
199500000
CY2019Q3 us-gaap Restructuring Charges
RestructuringCharges
19500000
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
7100000
us-gaap Restructuring Charges
RestructuringCharges
78300000
us-gaap Restructuring Charges
RestructuringCharges
19700000
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
28000000.0
comm Transaction And Integration Charges
TransactionAndIntegrationCharges
189800000
comm Transaction And Integration Charges
TransactionAndIntegrationCharges
5300000
CY2019Q3 us-gaap Depreciation
Depreciation
43300000
CY2019Q3 comm Purchase Accounting Adjustments
PurchaseAccountingAdjustments
108700000
comm Purchase Accounting Adjustments
PurchaseAccountingAdjustments
272900000
CY2019Q3 comm Patent Litigation Settlement
PatentLitigationSettlement
55000000.0
comm Patent Litigation Settlement
PatentLitigationSettlement
55000000.0
us-gaap Operating Income Loss
OperatingIncomeLoss
400600000
CY2019Q3 us-gaap Depreciation
Depreciation
43300000
CY2018Q3 us-gaap Depreciation
Depreciation
18700000
us-gaap Depreciation
Depreciation
101000000.0
us-gaap Depreciation
Depreciation
58200000
CY2019Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24300000
CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24500000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
72300000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
55400000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2380200000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1150400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6046400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3510800000
CY2019Q3 us-gaap Restructuring Charges
RestructuringCharges
19500000
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
7100000
us-gaap Restructuring Charges
RestructuringCharges
78300000
us-gaap Restructuring Charges
RestructuringCharges
19700000
CY2019Q3 us-gaap Restructuring Reserve
RestructuringReserve
32500000
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
35100000
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
178200000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28000000.0
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
58700000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
33700000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0

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