2018 Q1 Form 10-Q Financial Statement

#000002523218000017 Filed on April 25, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $117.2M $119.9M
YoY Change -2.23% 150.05%
Cost Of Revenue $40.19M $41.90M
YoY Change -4.08% 130.22%
Gross Profit $77.01M $77.90M
YoY Change -1.14% 161.41%
Gross Profit Margin 65.71% 64.98%
Selling, General & Admin $7.800M $7.000M
YoY Change 11.43% -23.08%
% of Gross Profit 10.13% 8.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.09M $54.88M
YoY Change -17.84% 231.81%
% of Gross Profit 58.55% 70.45%
Operating Expenses $52.80M $62.00M
YoY Change -14.84% 142.19%
Operating Profit $80.58M $80.17M
YoY Change 0.51% 34.71%
Interest Expense $9.778M $9.741M
YoY Change 0.38% 79.1%
% of Operating Profit 12.13% 12.15%
Other Income/Expense, Net
YoY Change
Pretax Income $13.89M $4.347M
YoY Change 219.6% -427.09%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $16.04M $4.751M
YoY Change 237.68% -79.16%
Net Earnings / Revenue 13.69% 3.96%
Basic Earnings Per Share $0.04 $0.01
Diluted Earnings Per Share $0.04 $0.01
COMMON SHARES
Basic Shares Outstanding 420.2M shares 402.8M shares
Diluted Shares Outstanding 427.7M shares 411.2M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $108.2M $35.80M
YoY Change 202.23% 550.91%
Cash & Equivalents $108.2M $35.76M
Short-Term Investments
Other Short-Term Assets $8.300M $14.00M
YoY Change -40.71% 70.73%
Inventory
Prepaid Expenses
Receivables $16.70M $25.40M
Other Receivables $66.00M $39.90M
Total Short-Term Assets $199.2M $115.1M
YoY Change 73.07% 18.54%
LONG-TERM ASSETS
Property, Plant & Equipment $3.628B $3.660B
YoY Change -0.88% 61.71%
Goodwill $1.674M $1.674M
YoY Change 0.0% -53.83%
Intangibles
YoY Change
Long-Term Investments $145.5M $128.6M
YoY Change 13.12% 15.8%
Other Assets $4.900M $60.30M
YoY Change -91.87% 225.95%
Total Long-Term Assets $3.960B $4.091B
YoY Change -3.2% 62.78%
TOTAL ASSETS
Total Short-Term Assets $199.2M $115.1M
Total Long-Term Assets $3.960B $4.091B
Total Assets $4.159B $4.206B
YoY Change -1.12% 61.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $88.00M $119.8M
YoY Change -26.54% 146.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $88.00M $119.8M
YoY Change -26.54% 146.0%
LONG-TERM LIABILITIES
Long-Term Debt $1.091B $1.114B
YoY Change -2.02% 45.06%
Other Long-Term Liabilities $144.2M $290.2M
YoY Change -50.31% 146.77%
Total Long-Term Liabilities $1.236B $1.404B
YoY Change -12.0% 58.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $88.00M $119.8M
Total Long-Term Liabilities $1.236B $1.404B
Total Liabilities $1.323B $1.524B
YoY Change -13.15% 63.12%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $4.035B $4.025B
YoY Change 0.25% 107.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $148.4M $148.4M
YoY Change 0.0% 0.0%
Treasury Stock Shares 10.33M shares 10.33M shares
Shareholders Equity $2.783B $2.626B
YoY Change
Total Liabilities & Shareholders Equity $4.159B $4.206B
YoY Change -1.12% 61.14%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $16.04M $4.751M
YoY Change 237.68% -79.16%
Depreciation, Depletion And Amortization $45.09M $54.88M
YoY Change -17.84% 231.81%
Cash From Operating Activities $20.91M $25.23M
YoY Change -17.15% 358.12%
INVESTING ACTIVITIES
Capital Expenditures -$60.20M -$70.70M
YoY Change -14.85% 169.85%
Acquisitions
YoY Change
Other Investing Activities $472.0K $0.00
YoY Change
Cash From Investing Activities -$82.81M -$78.27M
YoY Change 5.8% 286.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$212.9M
YoY Change -1649.15%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$34.50M $50.96M
YoY Change -167.71% 179.86%
NET CHANGE
Cash From Operating Activities $20.91M $25.23M
Cash From Investing Activities -$82.81M -$78.27M
Cash From Financing Activities -$34.50M $50.96M
Net Change In Cash -$96.41M -$2.081M
YoY Change 4532.77% -160.13%
FREE CASH FLOW
Cash From Operating Activities $20.91M $25.23M
Capital Expenditures -$60.20M -$70.70M
Free Cash Flow $81.11M $95.93M
YoY Change -15.46% 202.55%

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-85000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
1674000 USD
CY2018Q1 us-gaap Goodwill
Goodwill
1674000 USD
CY2017Q4 us-gaap Incentive To Lessee
IncentiveToLessee
3126000 USD
CY2017Q4 us-gaap Equity Method Investments
EquityMethodInvestments
101414000 USD
CY2018Q1 us-gaap Equity Method Investments
EquityMethodInvestments
145465000 USD
CY2017Q1 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
-70000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-78271000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
4858000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
16406000 USD
CY2017Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
581000 USD
CY2018Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2885000 USD
CY2017Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2018Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-15974000 USD
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-24733000 USD
CY2017Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
5362000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
7094000 USD
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
292000 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
567000 shares
CY2017Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
186206000 USD
CY2018Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
175159000 USD
CY2017Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
11331000 USD
CY2018Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
10874000 USD
CY2017Q1 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
1590000 USD
CY2018Q1 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
1096000 USD
CY2017Q1 us-gaap Interest Expense
InterestExpense
9741000 USD
CY2018Q1 us-gaap Interest Expense
InterestExpense
9778000 USD
CY2017Q1 us-gaap Interest Paid Net
InterestPaidNet
13582000 USD
CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
13775000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
1379508000 USD
CY2018Q1 us-gaap Liabilities
Liabilities
1323395000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4204619000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4159310000 USD
CY2018Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.98
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
1093228000 USD
CY2018Q1 us-gaap Long Term Debt
LongTermDebt
1091258000 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
53138000 USD
CY2018Q1 us-gaap Minority Interest
MinorityInterest
53102000 USD
CY2017Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
491000 USD
CY2018Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
399000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
50957000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-34501000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-82813000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
363000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
25233000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
20906000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
4751000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
16043000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
107000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4751000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16043000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4852000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
16330000 USD
CY2017Q1 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
630000 USD
CY2017Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
1100000000 USD
CY2018Q1 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
1100000000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
80167000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
80578000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
207600000 USD
CY2017Q4 us-gaap Other Assets
OtherAssets
20854000 USD
CY2018Q1 us-gaap Other Assets
OtherAssets
31884000 USD
CY2017Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
6182000 USD
CY2018Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
6809000 USD
CY2017Q4 us-gaap Other Liabilities
OtherLiabilities
40534000 USD
CY2018Q1 us-gaap Other Liabilities
OtherLiabilities
39367000 USD
CY2017Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
404000 USD
CY2018Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
320000 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
472000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
23603000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
25169000 USD
CY2017Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2018Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
6013000 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
759000 USD
CY2017Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1535000 USD
CY2018Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
21613000 USD
CY2017Q1 us-gaap Payments To Acquire Receivables
PaymentsToAcquireReceivables
0 USD
CY2018Q1 us-gaap Payments To Acquire Receivables
PaymentsToAcquireReceivables
795000 USD
CY2017Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2018Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
399000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
6867357 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
6867357 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
6867357 shares
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
6867357 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
6867000 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
6867000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3902000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8343000 USD
CY2017Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
3292000 USD
CY2018Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-158000 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2017Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
93000000 USD
CY2018Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
0 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
4858000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
16406000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
275977000 USD
CY2018Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
311238000 USD
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3617822000 USD
CY2018Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3614802000 USD
CY2017Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
112517000 USD
CY2018Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
113348000 USD
CY2017Q4 us-gaap Rental Properties
RentalProperties
3332619000 USD
CY2018Q1 us-gaap Rental Properties
RentalProperties
3528617000 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
227000000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2017Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
3107000 USD
CY2018Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2161000 USD
CY2016Q4 us-gaap Restricted Cash
RestrictedCash
15634000 USD
CY2017Q1 us-gaap Restricted Cash
RestrictedCash
13485000 USD
CY2017Q4 us-gaap Restricted Cash
RestrictedCash
56816000 USD
CY2018Q1 us-gaap Restricted Cash
RestrictedCash
1185000 USD
CY2017Q1 us-gaap Revenues
Revenues
119879000 USD
CY2018Q1 us-gaap Revenues
Revenues
117202000 USD
CY2017Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
211825000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-701000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-759000 USD
CY2017Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
0 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
2771973000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
2782813000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2514240000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2682516000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2825111000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2835915000 USD
CY2017Q1 us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
404000 USD
CY2017Q1 us-gaap Straight Line Rent
StraightLineRent
13333000 USD
CY2018Q1 us-gaap Straight Line Rent
StraightLineRent
9996000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
10329082 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
420154000 shares
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
10329082 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
148373000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
148373000 USD
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
8113000 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6974000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
411186000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
427695000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
402781000 shares

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