$CTBB

2020 Q2 Form 10-Q Financial Statement

#000006862220000006 Filed on May 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $1.799B $1.918B $2.030B
YoY Change -11.29% -5.52% -4.69%
Cost Of Revenue $490.0M $473.0M $582.0M
YoY Change -13.27% -18.73% -17.68%
Gross Profit $1.309B $1.445B $1.448B
YoY Change -10.53% -0.21% 1.76%
Gross Profit Margin 72.76% 75.34% 71.33%
Selling, General & Admin $139.0M $143.0M $157.0M
YoY Change -11.46% -8.92% -26.98%
% of Gross Profit 10.62% 9.9% 10.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $328.0M $336.0M
YoY Change -2.38% -6.67%
% of Gross Profit 22.7% 23.2%
Operating Expenses $139.0M $143.0M $1.295B
YoY Change -89.32% -88.96% -13.55%
Operating Profit $679.0M $779.0M $760.0M
YoY Change -9.47% 2.5% 20.25%
Interest Expense $95.00M
YoY Change -19.49%
% of Operating Profit 12.5%
Other Income/Expense, Net -$96.00M -$99.00M -$102.0M
YoY Change -9.43% -2.94% -16.39%
Pretax Income $583.0M $680.0M $658.0M
YoY Change -9.47% 3.34% 29.02%
Income Tax $153.0M $177.0M $171.0M
% Of Pretax Income 26.24% 26.03% 25.99%
Net Earnings
YoY Change
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 1.000 shares 1.000 shares 1.000 shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $5.000M $8.000M $9.000M
Short-Term Investments
Other Short-Term Assets $141.0M $151.0M $159.0M
YoY Change -4.73% -5.03% -26.73%
Inventory
Prepaid Expenses $56.00M $64.00M $64.00M
Receivables $413.0M $470.0M $539.0M
Other Receivables
Total Short-Term Assets $1.041B $1.324B $1.965B
YoY Change -51.17% -32.62% 1.39%
LONG-TERM ASSETS
Property, Plant & Equipment $8.294B $8.211B $8.007B
YoY Change 3.24% 2.55% 0.78%
Goodwill $9.360B $9.360B $9.360B
YoY Change 0.0% 0.0% 0.0%
Intangibles $567.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets $185.0M $94.00M $93.00M
YoY Change 98.92% 1.08% -7.0%
Total Long-Term Assets $18.41B $18.45B $18.72B
YoY Change -1.1% -1.42% -1.55%
TOTAL ASSETS
Total Short-Term Assets $1.041B $1.324B $1.965B
Total Long-Term Assets $18.41B $18.45B $18.72B
Total Assets $19.45B $19.77B $20.68B
YoY Change -6.25% -4.39% -1.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $288.0M $347.0M $366.0M
YoY Change -16.52% -5.19% 22.0%
Accrued Expenses
YoY Change
Deferred Revenue $185.0M $200.0M $221.0M
YoY Change -17.04% -9.5%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.393B $2.206B $2.185B
YoY Change 10.02% 0.96% 3.31%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $714.0M $518.0M $550.0M
YoY Change 28.19% -5.82% 587.5%
Total Long-Term Liabilities $714.0M $518.0M $550.0M
YoY Change 28.19% -5.82% 587.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.393B $2.206B $2.185B
Total Long-Term Liabilities $714.0M $518.0M $550.0M
Total Liabilities $3.107B $2.724B $2.735B
YoY Change 13.73% -0.4% 24.6%
SHAREHOLDERS EQUITY
Retained Earnings $73.00M $68.00M -$45.00M
YoY Change -10.98% -251.11% -91.09%
Common Stock $10.05B $10.05B $10.05B
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.12B $10.12B $10.03B
YoY Change
Total Liabilities & Shareholders Equity $19.45B $19.77B $20.68B
YoY Change -6.25% -4.39% -1.27%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income
YoY Change
Depreciation, Depletion And Amortization $328.0M $336.0M
YoY Change -2.38% -6.67%
Cash From Operating Activities $785.0M $732.0M
YoY Change 7.24% 3.24%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $830.0M -$375.0M
YoY Change -321.33% -6.25%
FINANCING ACTIVITIES
Cash Dividend Paid $500.0M $350.0M
YoY Change 42.86% 16.67%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.109B $3.000M
YoY Change 36866.67% -25.0%
Cash From Financing Activities -$1.609B -$353.0M
YoY Change 355.81% 16.12%
NET CHANGE
Cash From Operating Activities $785.0M $732.0M
Cash From Investing Activities $830.0M -$375.0M
Cash From Financing Activities -$1.609B -$353.0M
Net Change In Cash $6.000M $4.000M
YoY Change 50.0% -20.0%
FREE CASH FLOW
Cash From Operating Activities $785.0M $732.0M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7000000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10000000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11000000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
179000000 USD
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
197000000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
81000000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
92000000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8000000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9000000 USD
CY2020Q1 us-gaap Restricted Cash Noncurrent
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2000000 USD
CY2020Q1 us-gaap Number Of Reportable Segments
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1 segment
CY2020Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
79000000 USD
CY2019Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
81000000 USD
CY2020Q1 ctl Operating Lease Lease Income Percentof Operating Revenue
OperatingLeaseLeaseIncomePercentofOperatingRevenue
0.04
CY2020Q1 us-gaap Goodwill
Goodwill
9360000000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
9360000000 USD
CY2017Q4 us-gaap Number Of Reporting Units
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1 reporting_unit
CY2020Q1 ctl Intangible Assets Gross Including Goodwill
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17200000000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
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124000000 USD
CY2019Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
137000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
359000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
154000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
52000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
42000000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
33000000 USD
CY2020Q1 us-gaap Revenues
Revenues
1918000000 USD
CY2019Q1 us-gaap Revenues
Revenues
2030000000 USD
CY2020Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
121000000 USD
CY2019Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
127000000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1797000000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1903000000 USD
CY2020Q1 us-gaap Accounts Receivable Net
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415000000 USD
CY2019Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
430000000 USD
CY2020Q1 ctl Contract With Customer Contract Liability
ContractWithCustomerContractLiability
337000000 USD
CY2019Q4 ctl Contract With Customer Contract Liability
ContractWithCustomerContractLiability
338000000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
15000000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18000000 USD
CY2020Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
444000000 USD
CY2019Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
462000000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
29000000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
32000000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
184000000 USD
CY2019Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
261000000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
163000000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.99
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3000000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
35000000 USD
CY2020Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
13000000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
16000000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
5000000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
37000000 USD
CY2020Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-4000000 USD
CY2019Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
0 USD
CY2020Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
114000000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
115000000 USD
CY2020Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
4854000000 USD
CY2019Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
5951000000 USD
CY2020Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
3000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1105000000 USD
CY2020Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
4851000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
4846000000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
951000000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1000000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1000000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
4008000000 USD
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
4964000000 USD
CY2020Q1 ctl Number Of Categories Of Products And Services
NumberOfCategoriesOfProductsAndServices
6 category
CY2020Q1 us-gaap Revenues
Revenues
1918000000 USD
CY2019Q1 us-gaap Revenues
Revenues
2030000000 USD
CY2020Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
26000000 USD
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
500000000 USD
CY2019Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
350000000 USD
CY2020Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
64000000 USD
CY2019Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
41000000 USD
CY2020Q1 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
50000000 USD
CY2019Q4 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
50000000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
28000000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
28000000 USD
CY2020Q1 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
9000000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
9000000 USD
CY2020Q1 us-gaap Other Assets Current
OtherAssetsCurrent
151000000 USD
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
128000000 USD

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