2017 Q1 Form 10-Q Financial Statement

#000162828017004465 Filed on April 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $774.0M $794.0M
YoY Change -2.52% 11.94%
Cost Of Revenue $547.9M $548.6M
YoY Change -0.13% 2.29%
Gross Profit $226.1M $245.4M
YoY Change -7.86% 41.85%
Gross Profit Margin 29.21% 30.91%
Selling, General & Admin $124.9M $124.1M
YoY Change 0.64% 26.5%
% of Gross Profit 55.24% 50.57%
Research & Development $12.00M $11.30M
YoY Change 6.19% 28.41%
% of Gross Profit 5.31% 4.6%
Depreciation & Amortization $19.60M $18.40M
YoY Change 6.52% -34.98%
% of Gross Profit 8.67% 7.5%
Operating Expenses $136.9M $135.4M
YoY Change 1.11% 27.02%
Operating Profit $89.50M $110.1M
YoY Change -18.71% 65.81%
Interest Expense -$6.600M -$8.400M
YoY Change -21.43% 0.0%
% of Operating Profit -7.37% -7.63%
Other Income/Expense, Net $1.400M
YoY Change
Pretax Income $84.30M $102.2M
YoY Change -17.51% 76.21%
Income Tax $26.40M $33.70M
% Of Pretax Income 31.32% 32.97%
Net Earnings $61.80M $68.50M
YoY Change -9.78% 73.86%
Net Earnings / Revenue 7.98% 8.63%
Basic Earnings Per Share $0.95 $1.06
Diluted Earnings Per Share $0.94 $1.05
COMMON SHARES
Basic Shares Outstanding 64.35M shares 64.02M shares
Diluted Shares Outstanding 64.85M shares 64.88M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $134.0M $450.5M
YoY Change -70.26% -39.48%
Cash & Equivalents $129.4M $450.5M
Short-Term Investments
Other Short-Term Assets $44.00M $43.60M
YoY Change 0.92% -46.24%
Inventory $428.0M $380.9M
Prepaid Expenses $25.20M
Receivables $560.0M $507.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.191B $1.383B
YoY Change -13.85% -15.21%
LONG-TERM ASSETS
Property, Plant & Equipment $660.9M $592.3M
YoY Change 11.58% 8.96%
Goodwill $1.177B
YoY Change
Intangibles $1.019B
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.80M $23.90M
YoY Change -4.6% 2.14%
Total Long-Term Assets $2.880B $2.643B
YoY Change 8.94% 24.66%
TOTAL ASSETS
Total Short-Term Assets $1.191B $1.383B
Total Long-Term Assets $2.880B $2.643B
Total Assets $4.071B $4.026B
YoY Change 1.12% 7.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $291.3M $248.4M
YoY Change 17.27% 8.0%
Accrued Expenses $188.4M $202.4M
YoY Change -6.92% 55.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $149.9M
YoY Change
Total Short-Term Liabilities $508.3M $628.8M
YoY Change -19.16% 66.44%
LONG-TERM LIABILITIES
Long-Term Debt $596.5M $595.8M
YoY Change 0.12% -20.55%
Other Long-Term Liabilities $273.2M $234.0M
YoY Change 16.75% 7.83%
Total Long-Term Liabilities $1.044B $829.8M
YoY Change 25.84% -14.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $508.3M $628.8M
Total Long-Term Liabilities $1.044B $829.8M
Total Liabilities $1.553B $1.638B
YoY Change -5.24% 6.51%
SHAREHOLDERS EQUITY
Retained Earnings $2.587B
YoY Change
Common Stock $417.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $386.9M
YoY Change
Treasury Stock Shares 14.07M shares
Shareholders Equity $2.518B $2.388B
YoY Change
Total Liabilities & Shareholders Equity $4.071B $4.026B
YoY Change 1.12% 7.33%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $61.80M $68.50M
YoY Change -9.78% 73.86%
Depreciation, Depletion And Amortization $19.60M $18.40M
YoY Change 6.52% -34.98%
Cash From Operating Activities $31.90M $109.0M
YoY Change -70.73% 120.2%
INVESTING ACTIVITIES
Capital Expenditures $30.40M $18.70M
YoY Change 62.57% -197.91%
Acquisitions $225.8M $8.100M
YoY Change 2687.65%
Other Investing Activities $0.00 -$8.100M
YoY Change -100.0% -8200.0%
Cash From Investing Activities -$256.2M -$26.80M
YoY Change 855.97% 41.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $28.50M
YoY Change -100.0% 9400.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$28.10M -$43.50M
YoY Change -35.4% 165.24%
NET CHANGE
Cash From Operating Activities $31.90M $109.0M
Cash From Investing Activities -$256.2M -$26.80M
Cash From Financing Activities -$28.10M -$43.50M
Net Change In Cash -$252.4M $38.70M
YoY Change -752.2% 174.47%
FREE CASH FLOW
Cash From Operating Activities $31.90M $109.0M
Capital Expenditures $30.40M $18.70M
Free Cash Flow $1.500M $90.30M
YoY Change -98.34% 31.63%

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IncrementalCommonSharesAttributableToContingentlyIssuableShares
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35800000 USD
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109000000 USD
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31900000 USD
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68500000 USD
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61800000 USD
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OperatingIncomeLoss
110600000 USD
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OperatingIncomeLoss
96700000 USD
CY2016Q1 us-gaap Operating Leases Rent Expense Net
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6700000 USD
CY2017Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
7300000 USD
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47000000 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current
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39900000 USD
CY2016Q4 us-gaap Other Assets Current
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57000000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
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CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
25000000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
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22800000 USD
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OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-400000 USD
CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-400000 USD
CY2016Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
-200000 USD
CY2017Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
-100000 USD
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
10200000 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
11400000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
10400000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
11700000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
217000000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
273200000 USD
CY2016Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
600000 USD
CY2017Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
1500000 USD
CY2016Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
0 USD
CY2017Q1 us-gaap Other Restructuring Costs
OtherRestructuringCosts
500000 USD
CY2016Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
12300000 USD
CY2017Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
14400000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
28500000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2017Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
2100000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19500000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22700000 USD
CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
8100000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
225800000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18700000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
30400000 USD
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
27100000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
27200000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
24300000 USD
CY2017Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
25200000 USD
CY2016Q1 us-gaap Proceeds From Lines Of Credit
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0 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
50000000 USD
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PropertyPlantAndEquipmentGross
1244900000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1292900000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
632200000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
660900000 USD
CY2016Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
50000000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11300000 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12800000 USD
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
1400000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
3200000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
9000000 USD
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
10100000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2547400000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2586500000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
794000000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
857300000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
124100000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
139700000 USD
CY2016Q1 us-gaap Severance Costs1
SeveranceCosts1
1400000 USD
CY2017Q1 us-gaap Severance Costs1
SeveranceCosts1
2400000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2800000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3200000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.014
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.013
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.275
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.256
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.014
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.019
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
19.30
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
24.57
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y7M10D
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M29D
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
28900000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
30600000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
29500000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
30300000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Additions From Business Acquisition
StandardProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Additions From Business Acquisition
StandardProductWarrantyAccrualAdditionsFromBusinessAcquisition
100000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Currency Translation Increase Decrease
StandardProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
0 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Currency Translation Increase Decrease
StandardProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
100000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
4400000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3800000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
6100000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4400000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
9200000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
500000 USD
CY2016Q1 us-gaap Stock Repurchased During Period Value
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28500000 USD
CY2015Q4 us-gaap Stockholders Equity
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2347400000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
2387500000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2466900000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
2518200000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
14200000 USD
CY2017Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
19600000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
14178801 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
14067571 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
382600000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
386900000 USD
CY2016Q1 us-gaap Undistributed Earnings
UndistributedEarnings
49000000 USD
CY2017Q1 us-gaap Undistributed Earnings
UndistributedEarnings
38800000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64876000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64848000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64018000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64353000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
64491000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
64822000 shares
CY2016Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
5800000 USD
CY2017Q1 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
5700000 USD
CY2016Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
18100000 USD
CY2017Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
17900000 USD
CY2016Q4 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
12300000 USD
CY2017Q1 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
12200000 USD

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