2013 Q1 Form 10-Q Financial Statement

#000104746913005474 Filed on May 02, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $2.352B $1.969B
YoY Change 19.5% 68.65%
Cost Of Revenue $1.814B $1.635B
YoY Change 10.91% 62.66%
Gross Profit $538.8M $333.4M
YoY Change 61.61% 105.8%
Gross Profit Margin 22.9% 16.94%
Selling, General & Admin $28.40M $45.30M
YoY Change -37.31% 49.01%
% of Gross Profit 5.27% 13.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.20M $32.10M
YoY Change 6.54% 45.84%
% of Gross Profit 6.35% 9.63%
Operating Expenses $28.40M $77.40M
YoY Change -63.31% 47.71%
Operating Profit $367.7M $140.5M
YoY Change 161.71% 28.19%
Interest Expense $15.40M $19.20M
YoY Change -19.79% 45.56%
% of Operating Profit 4.19% 13.67%
Other Income/Expense, Net -$61.20M -$166.3M
YoY Change -63.2% 353.15%
Pretax Income $306.5M -$25.80M
YoY Change -1287.98% -135.39%
Income Tax $93.80M -$9.800M
% Of Pretax Income 30.6%
Net Earnings $165.0M -$16.00M
YoY Change -1131.25% -134.94%
Net Earnings / Revenue 7.01% -0.81%
Basic Earnings Per Share $1.90 -$0.29
Diluted Earnings Per Share $1.90 -$0.29
COMMON SHARES
Basic Shares Outstanding 86.80M shares 86.80M shares
Diluted Shares Outstanding 86.80M shares 86.80M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.041B $500.9M
YoY Change 107.79% 201.93%
Cash & Equivalents $1.041B $500.9M
Short-Term Investments
Other Short-Term Assets $71.90M $66.10M
YoY Change 8.77% -27.28%
Inventory $525.1M $590.1M
Prepaid Expenses
Receivables $283.2M $246.7M
Other Receivables $4.300M $38.30M
Total Short-Term Assets $1.925B $1.442B
YoY Change 33.5% 88.31%
LONG-TERM ASSETS
Property, Plant & Equipment $1.783B $1.692B
YoY Change 5.35% 59.06%
Goodwill $40.97M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.842M $27.90M
YoY Change -79.06% 32.86%
Total Long-Term Assets $1.847B $1.761B
YoY Change 4.86% 56.39%
TOTAL ASSETS
Total Short-Term Assets $1.925B $1.442B
Total Long-Term Assets $1.847B $1.761B
Total Assets $3.772B $3.203B
YoY Change 17.75% 69.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $378.6M $508.1M
YoY Change -25.48% 124.72%
Accrued Expenses $81.70M $58.40M
YoY Change 39.9% 31.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.200M $6.600M
YoY Change -81.82% 340.0%
Total Short-Term Liabilities $642.0M $700.9M
YoY Change -8.4% 92.77%
LONG-TERM LIABILITIES
Long-Term Debt $675.9M $852.9M
YoY Change -20.75% 81.82%
Other Long-Term Liabilities $44.24M $25.70M
YoY Change 72.12% 314.52%
Total Long-Term Liabilities $44.24M $878.6M
YoY Change -94.97% 84.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $642.0M $700.9M
Total Long-Term Liabilities $44.24M $878.6M
Total Liabilities $686.2M $2.073B
YoY Change -66.9% 80.5%
SHAREHOLDERS EQUITY
Retained Earnings $632.2M
YoY Change
Common Stock $812.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.303M
YoY Change
Treasury Stock Shares 98.61K shares
Shareholders Equity $1.442B $1.130B
YoY Change
Total Liabilities & Shareholders Equity $3.772B $3.203B
YoY Change 17.75% 69.31%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $165.0M -$16.00M
YoY Change -1131.25% -134.94%
Depreciation, Depletion And Amortization $34.20M $32.10M
YoY Change 6.54% 45.84%
Cash From Operating Activities $278.3M $186.3M
YoY Change 49.38% -1271.7%
INVESTING ACTIVITIES
Capital Expenditures -$63.70M -$59.50M
YoY Change 7.06% 715.07%
Acquisitions
YoY Change
Other Investing Activities $0.00 $100.0K
YoY Change -100.0% -50.0%
Cash From Investing Activities -$63.70M -$59.40M
YoY Change 7.24% 736.62%
FINANCING ACTIVITIES
Cash Dividend Paid $477.6M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -69.80M -14.40M
YoY Change 384.72% 29.73%
NET CHANGE
Cash From Operating Activities 278.3M 186.3M
Cash From Investing Activities -63.70M -59.40M
Cash From Financing Activities -69.80M -14.40M
Net Change In Cash 144.8M 112.5M
YoY Change 28.71% -429.91%
FREE CASH FLOW
Cash From Operating Activities $278.3M $186.3M
Capital Expenditures -$63.70M -$59.50M
Free Cash Flow $342.0M $245.8M
YoY Change 39.14% -2958.14%

Facts In Submission

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CY2013Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4252000 USD
CY2013Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
501000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
212745000 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
7000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
154000 USD
CY2013Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2013Q1 cvi Ownership Interest Held By Public
OwnershipInterestHeldByPublic
1.00 pure
CY2013Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
264237000 USD
CY2012Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
275169000 USD
CY2013Q1 cvi Inventory Raw Materials And Precious Metals Net Of Reserves
InventoryRawMaterialsAndPreciousMetalsNetOfReserves
161492000 USD
CY2012Q4 cvi Inventory Raw Materials And Precious Metals Net Of Reserves
InventoryRawMaterialsAndPreciousMetalsNetOfReserves
164287000 USD
CY2013Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
54310000 USD
CY2012Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
42767000 USD
CY2013Q1 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
45066000 USD
CY2012Q4 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
45847000 USD
CY2013Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2417720000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2384051000 USD
CY2013Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
635076000 USD
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
601133000 USD
CY2013Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1782644000 USD
CY2013Q1 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
800000 USD
CY2012Q1 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
2100000 USD
CY2013Q1 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
25100000 USD
CY2012Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
25100000 USD
CY2013Q1 cvi Depreciation And Amortization Not Included In Cost Of Product Sold
DepreciationAndAmortizationNotIncludedInCostOfProductSold
1200000 USD
CY2012Q1 cvi Depreciation And Amortization Not Included In Cost Of Product Sold
DepreciationAndAmortizationNotIncludedInCostOfProductSold
700000 USD
CY2013Q1 cvi Depreciation And Amortization Not Included In Direct Operating Expenses
DepreciationAndAmortizationNotIncludedInDirectOperatingExpenses
32500000 USD
CY2012Q1 cvi Depreciation And Amortization Not Included In Direct Operating Expenses
DepreciationAndAmortizationNotIncludedInDirectOperatingExpenses
30800000 USD
CY2013Q1 cvi Depreciation And Amortization Not Included In Selling General And Administrative Expenses
DepreciationAndAmortizationNotIncludedInSellingGeneralAndAdministrativeExpenses
500000 USD
CY2012Q1 cvi Depreciation And Amortization Not Included In Selling General And Administrative Expenses
DepreciationAndAmortizationNotIncludedInSellingGeneralAndAdministrativeExpenses
600000 USD
CY2013Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
94733000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
41100000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
13100000 USD
CY2013Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.306 pure
CY2013Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.392 pure
CY2012Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.378 pure
CY2012Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.394 pure
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.90
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.90
CY2013Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2352419000 USD
CY2013Q1 cvi Direct Operating Expenses Exclusive Of Depreciation And Amortization
DirectOperatingExpensesExclusiveOfDepreciationAndAmortization
108548000 USD
CY2013Q1 us-gaap Goodwill
Goodwill
40969000 USD
CY2013Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-20026000 USD
CY2012Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-147253000 USD
CY2012Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
51168000 USD
CY2013Q1 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
50884000 USD
CY2013Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
675884000 USD
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
7511000 USD
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
7914000 USD
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
6492000 USD
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
5616000 USD
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2965000 USD
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
6547000 USD
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
37045000 USD
CY2013Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
110122000 USD
CY2013Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
99206000 USD
CY2013Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
92165000 USD
CY2013Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
90886000 USD
CY2013Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
933392000 USD
CY2013Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
1417981000 USD
CY2013Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2300000 USD
CY2012Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1300000 USD
CY2013Q1 us-gaap Environmental Remediation Expense
EnvironmentalRemediationExpense
22200000 USD
CY2012Q1 us-gaap Environmental Remediation Expense
EnvironmentalRemediationExpense
5300000 USD
CY2013Q1 us-gaap Inventory Net
InventoryNet
525105000 USD
CY2013Q1 cvi Minimum Percentage Of Voting Required For Removal Of General Partner
MinimumPercentageOfVotingRequiredForRemovalOfGeneralPartner
0.6667 pure
CY2013Q1 cvi Dividends Payable Per Quarter Amount Per Share
DividendsPayablePerQuarterAmountPerShare
0.75
CY2013Q1 us-gaap Insurance Settlements Receivable Noncurrent
InsuranceSettlementsReceivableNoncurrent
4042000 USD
CY2013Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
5842000 USD
CY2013Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
UnrecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
92210000 USD
CY2013Q1 cvi Number Of Non Transferable Contingent Cash Payments Right For Each Restricted Stock Awards Vested
NumberOfNonTransferableContingentCashPaymentsRightForEachRestrictedStockAwardsVested
1 item
CY2013Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-52515000 USD
CY2013Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
283212000 USD
CY2013Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
54858000 USD
CY2013Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
4319000 USD
CY2013Q1 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
16968000 USD
CY2013Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
277000 USD
CY2013Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
13070000 USD
CY2013Q1 cvi Fair Value Transfer Between Measurement Levels Amount
FairValueTransferBetweenMeasurementLevelsAmount
0 USD
CY2013Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
477571000 USD
CY2013Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
477571000 USD
CY2013Q1 cvi Note Payable And Capital Lease Obligations
NotePayableAndCapitalLeaseObligations
1153000 USD
CY2013Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
378612000 USD
CY2013Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
40339000 USD
CY2013Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
41340000 USD
CY2013Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
28604000 USD
CY2013Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
57214000 USD
CY2013Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
1540000 USD
CY2013Q1 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
510998000 USD
CY2013Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
44235000 USD
CY2013Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
811947000 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
632203000 USD
CY2013Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2303000 USD
CY2013Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1063000 USD
CY2013Q1 us-gaap Minority Interest
MinorityInterest
455754000 USD
CY2013Q1 cvi Selling General And Administrative Expenses Exclusive Of Depreciation And Amortization
SellingGeneralAndAdministrativeExpensesExclusiveOfDepreciationAndAmortization
28429000 USD
CY2013Q1 us-gaap Interest Expense
InterestExpense
15437000 USD
CY2013Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
300000 USD
CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
116000 USD
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
93743000 USD
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
47712000 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-33000 USD
CY2013Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
47778000 USD
CY2013Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-185000 USD
CY2013Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
27639000 USD
CY2013Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
243366000 USD
CY2013Q1 us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
66376000 USD

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