2018 Q4 Form 10-Q Financial Statement

#000105829018000042 Filed on October 30, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $4.129B $4.078B $3.766B
YoY Change 7.86% 8.28% 9.06%
Cost Of Revenue $2.540B $2.480B $2.308B
YoY Change 15.3% 7.45% 11.5%
Gross Profit $1.589B $1.598B $1.458B
YoY Change -2.22% 9.6% 5.41%
Gross Profit Margin 38.48% 39.19% 38.71%
Selling, General & Admin $769.0M $723.0M $674.0M
YoY Change 9.86% 7.27% -3.85%
% of Gross Profit 48.4% 45.24% 46.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $131.0M $127.0M $114.0M
YoY Change 7.38% 11.4% 17.53%
% of Gross Profit 8.24% 7.95% 7.82%
Operating Expenses $769.0M $723.0M $674.0M
YoY Change 9.86% 7.27% -3.85%
Operating Profit $693.0M $745.0M $648.0M
YoY Change 5.48% 14.97% 11.15%
Interest Expense $122.0M $6.000M $6.000M
YoY Change -215.09% 0.0% 20.0%
% of Operating Profit 17.6% 0.81% 0.93%
Other Income/Expense, Net $0.00 -$83.00M $10.00M
YoY Change -100.0% -930.0% -66.67%
Pretax Income $815.0M $662.0M $658.0M
YoY Change 14.31% 0.61% 7.34%
Income Tax $168.0M $185.0M $164.0M
% Of Pretax Income 20.61% 27.95% 24.92%
Net Earnings $648.0M $477.0M $495.0M
YoY Change -3700.0% -3.64% 11.49%
Net Earnings / Revenue 15.69% 11.7% 13.14%
Basic Earnings Per Share $1.12 $0.82 $0.84
Diluted Earnings Per Share $1.12 $0.82 $0.84
COMMON SHARES
Basic Shares Outstanding 579.0M shares 579.0M shares 590.0M shares
Diluted Shares Outstanding 580.0M shares 592.0M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.511B $4.763B $4.713B
YoY Change -10.78% 1.06% -3.0%
Cash & Equivalents $1.161B $1.339B $1.577B
Short-Term Investments $3.350B $3.424B $3.136B
Other Short-Term Assets $909.0M $777.0M $552.0M
YoY Change 9.12% 40.76% 29.73%
Inventory
Prepaid Expenses
Receivables $3.190B $3.187B $2.889B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.610B $8.727B $8.557B
YoY Change -5.5% 1.99% 4.36%
LONG-TERM ASSETS
Property, Plant & Equipment $1.394B $1.362B $1.304B
YoY Change 5.29% 4.45% -1.46%
Goodwill $3.481B $3.037B $2.608B
YoY Change 28.74% 16.45% 5.08%
Intangibles $1.150B $1.021B $957.0M
YoY Change 17.23% 6.69% 2.15%
Long-Term Investments $66.00M $93.00M $262.0M
YoY Change -1.49% -64.5% 332.34%
Other Assets $689.0M $643.0M $428.0M
YoY Change 53.79% 50.23% 30.17%
Total Long-Term Assets $7.236B $6.547B $6.023B
YoY Change 18.43% 8.7% 9.17%
TOTAL ASSETS
Total Short-Term Assets $8.610B $8.727B $8.557B
Total Long-Term Assets $7.236B $6.547B $6.023B
Total Assets $15.85B $15.27B $14.58B
YoY Change 4.11% 4.76% 6.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $215.0M $223.0M $186.0M
YoY Change 2.38% 19.89% 8.45%
Accrued Expenses $1.644B $1.572B $1.681B
YoY Change -2.89% -6.48% 13.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.000M $100.0M $100.0M
YoY Change -94.86% 0.0% 33.33%
Total Short-Term Liabilities $2.710B $2.693B $2.600B
YoY Change -4.54% 3.58% 13.01%
LONG-TERM LIABILITIES
Long-Term Debt $736.0M $624.0M $723.0M
YoY Change 5.44% -13.69% -12.0%
Other Long-Term Liabilities $253.0M $260.0M $159.0M
YoY Change 39.78% 63.52% 13.49%
Total Long-Term Liabilities $989.0M $884.0M $882.0M
YoY Change 12.51% 0.23% -8.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.710B $2.693B $2.600B
Total Long-Term Liabilities $989.0M $884.0M $882.0M
Total Liabilities $4.422B $4.296B $3.601B
YoY Change -2.86% 19.3% 5.16%
SHAREHOLDERS EQUITY
Retained Earnings $11.49B $11.04B $10.72B
YoY Change 8.92% 2.98% 6.54%
Common Stock $6.000M $6.000M $6.000M
YoY Change 0.0% 0.0% -1.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.42B $10.98B $10.98B
YoY Change
Total Liabilities & Shareholders Equity $15.85B $15.27B $14.58B
YoY Change 4.11% 4.76% 6.29%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $648.0M $477.0M $495.0M
YoY Change -3700.0% -3.64% 11.49%
Depreciation, Depletion And Amortization $131.0M $127.0M $114.0M
YoY Change 7.38% 11.4% 17.53%
Cash From Operating Activities $702.0M $862.0M $773.0M
YoY Change -16.03% 11.51% 28.19%
INVESTING ACTIVITIES
Capital Expenditures -$96.00M -$94.00M -$78.00M
YoY Change 20.0% 20.51% 5.41%
Acquisitions
YoY Change
Other Investing Activities -$454.0M -$172.0M -$46.00M
YoY Change 467.5% 273.91% -91.47%
Cash From Investing Activities -$550.0M -$266.0M -$124.0M
YoY Change 243.75% 114.52% -79.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -325.0M -146.0M -231.0M
YoY Change -2.4% -36.8% 81.89%
NET CHANGE
Cash From Operating Activities 702.0M 862.0M 773.0M
Cash From Investing Activities -550.0M -266.0M -124.0M
Cash From Financing Activities -325.0M -146.0M -231.0M
Net Change In Cash -173.0M 450.0M 418.0M
YoY Change -150.44% 7.66% -405.11%
FREE CASH FLOW
Cash From Operating Activities $702.0M $862.0M $773.0M
Capital Expenditures -$96.00M -$94.00M -$78.00M
Free Cash Flow $798.0M $956.0M $851.0M
YoY Change -12.88% 12.34% 25.7%

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4000000 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
62000000 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
89000000 USD
CY2018Q3 us-gaap Restricted Investments
RestrictedInvestments
405000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
10544000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
11041000000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4078000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11996000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2014000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P2Y
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
3766000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
10982000000 USD
CY2018Q3 us-gaap Sales Revenue Net
SalesRevenueNet
4078000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
11996000000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
674000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2069000000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
734000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2250000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
161000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
199000000 USD
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
3131000000 USD
CY2018Q3 us-gaap Short Term Investments
ShortTermInvestments
3424000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
146000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
142000000 USD
CY2018Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3500000000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1557000000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
994000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
10728000000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
10979000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
10669000000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
10978000000 USD
CY2017Q4 us-gaap Trading Securities Equity
TradingSecuritiesEquity
25000000 USD
CY2018Q3 us-gaap Trading Securities Equity
TradingSecuritiesEquity
25000000 USD
CY2017Q3 us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
0 USD
us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
0 USD
CY2018Q3 us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
0 USD
us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
0 USD
CY2017Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
357000000 USD
CY2018Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
0 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
592000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
596000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
580000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
585000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
590000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
594000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
579000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
584000000 shares

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