2015 Q2 Form 10-Q Financial Statement

#000006480315000054 Filed on August 04, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $37.17B $34.60B
YoY Change 7.42% 10.73%
Cost Of Revenue $30.77B $28.28B
YoY Change 8.8% 11.3%
Gross Profit $6.402B $6.324B
YoY Change 1.23% 8.27%
Gross Profit Margin 17.22% 18.28%
Selling, General & Admin $4.140B $4.116B
YoY Change 0.58% 6.38%
% of Gross Profit 64.67% 65.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.140B $4.116B
YoY Change 0.58% 6.38%
Operating Profit $2.262B $2.208B
YoY Change 2.45% 11.97%
Interest Expense $171.0M $161.0M
YoY Change 6.21% 26.77%
% of Operating Profit 7.56% 7.29%
Other Income/Expense, Net
YoY Change
Pretax Income $2.096B $2.050B
YoY Change 2.24% 11.05%
Income Tax $824.0M $804.0M
% Of Pretax Income 39.31% 39.22%
Net Earnings $1.272B $1.246B
YoY Change 2.09% 10.85%
Net Earnings / Revenue 3.42% 3.6%
Basic Earnings Per Share $1.13 $1.07
Diluted Earnings Per Share $1.12 $1.06
COMMON SHARES
Basic Shares Outstanding 1.124B shares 1.165B shares
Diluted Shares Outstanding 1.132B shares 1.174B shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.404B $1.712B
YoY Change -17.99% 45.21%
Cash & Equivalents $1.244B $1.612B
Short-Term Investments $160.0M $100.0M
Other Short-Term Assets $732.0M $554.0M
YoY Change 32.13% 34.14%
Inventory $12.38B $11.36B
Prepaid Expenses
Receivables $10.89B $9.533B
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.40B $24.14B
YoY Change 9.38% 21.49%
LONG-TERM ASSETS
Property, Plant & Equipment $9.019B $8.820B
YoY Change 2.26% 1.29%
Goodwill $28.12B $28.13B
YoY Change -0.01% 5.92%
Intangibles $9.683B $9.906B
YoY Change -2.25% 2.58%
Long-Term Investments
YoY Change
Other Assets $1.443B $1.603B
YoY Change -9.98% 7.15%
Total Long-Term Assets $48.27B $48.46B
YoY Change -0.39% 4.4%
TOTAL ASSETS
Total Short-Term Assets $26.40B $24.14B
Total Long-Term Assets $48.27B $48.46B
Total Assets $74.67B $72.59B
YoY Change 2.86% 9.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.370B $5.780B
YoY Change 10.21% 11.63%
Accrued Expenses $5.543B $4.812B
YoY Change 15.19% 37.45%
Deferred Revenue
YoY Change
Short-Term Debt $1.488B $0.00
YoY Change
Long-Term Debt Due $24.00M $1.119B
YoY Change -97.86% 6116.67%
Total Short-Term Liabilities $20.39B $16.63B
YoY Change 22.59% 31.04%
LONG-TERM LIABILITIES
Long-Term Debt $11.63B $12.25B
YoY Change -5.05% 30.93%
Other Long-Term Liabilities $1.490B $1.489B
YoY Change 0.07% -2.93%
Total Long-Term Liabilities $1.490B $1.489B
YoY Change 0.07% -86.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.39B $16.63B
Total Long-Term Liabilities $1.490B $1.489B
Total Liabilities $21.88B $18.12B
YoY Change 20.74% -23.17%
SHAREHOLDERS EQUITY
Retained Earnings $33.54B $30.22B
YoY Change 11.0% 13.73%
Common Stock $17.00M $17.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $26.99B $22.13B
YoY Change 21.95% 30.28%
Treasury Stock Shares 578.0M shares 527.0M shares
Shareholders Equity $37.13B $38.13B
YoY Change
Total Liabilities & Shareholders Equity $74.67B $72.59B
YoY Change 2.86% 9.52%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $1.272B $1.246B
YoY Change 2.09% 10.85%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.037B $897.0M
YoY Change 15.61% -0.55%
INVESTING ACTIVITIES
Capital Expenditures -$523.0M -$503.0M
YoY Change 3.98% 3.5%
Acquisitions
YoY Change
Other Investing Activities -$23.00M -$122.0M
YoY Change -81.15% 205.0%
Cash From Investing Activities -$546.0M -$625.0M
YoY Change -12.64% 18.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -761.0M -1.423B
YoY Change -46.52% 89.48%
NET CHANGE
Cash From Operating Activities 1.037B 897.0M
Cash From Investing Activities -546.0M -625.0M
Cash From Financing Activities -761.0M -1.423B
Net Change In Cash -270.0M -1.151B
YoY Change -76.54% 206.93%
FREE CASH FLOW
Cash From Operating Activities $1.037B $897.0M
Capital Expenditures -$523.0M -$503.0M
Free Cash Flow $1.560B $1.400B
YoY Change 11.43% 0.86%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Number Of Reportable Segments
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CY2014Q2 us-gaap Operating Expenses
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4116000000 USD
us-gaap Operating Expenses
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us-gaap Operating Expenses
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us-gaap Operating Income Loss
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us-gaap Operating Leases Rent Expense Minimum Rentals
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us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
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us-gaap Operating Leases Rent Expense Net
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574000000 USD
us-gaap Operating Leases Rent Expense Net
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1150000000 USD
CY2014Q2 us-gaap Operating Leases Rent Expense Sublease Rentals1
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5000000 USD
us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
10000000 USD
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OperatingLeasesRentExpenseSubleaseRentals1
5000000 USD
us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
11000000 USD
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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1000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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2000000 USD
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1000000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
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CY2015Q2 us-gaap Other Liabilities Noncurrent
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
PaymentsOfDividends
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us-gaap Payments To Acquire Available For Sale Securities
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161000000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
124000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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2248000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Suppliers
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us-gaap Payments To Suppliers And Employees
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us-gaap Payments To Suppliers And Employees
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CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000.0 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Customers
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62932000000 USD
us-gaap Proceeds From Customers
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71014000000 USD
us-gaap Proceeds From Interest Received
ProceedsFromInterestReceived
6000000 USD
us-gaap Proceeds From Interest Received
ProceedsFromInterestReceived
9000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
803000000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
103000000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
40000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
266000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
211000000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
1246000000 USD
us-gaap Profit Loss
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2375000000 USD
CY2015Q2 us-gaap Profit Loss
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1272000000 USD
us-gaap Profit Loss
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2493000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9019000000 USD
CY2014Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2015Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-1000000 USD
CY2014Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
11000000 USD
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
27000000 USD
CY2015Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
3000000 USD
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
7000000 USD
us-gaap Repayments Of Long Term Debt
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41000000 USD
us-gaap Repayments Of Long Term Debt
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550000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
31849000000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
33544000000 USD
CY2014Q2 us-gaap Revenues
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34602000000 USD
us-gaap Revenues
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67291000000 USD
CY2015Q2 us-gaap Revenues
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37169000000 USD
us-gaap Revenues
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73501000000 USD
us-gaap Sale Leaseback Transaction Net Proceeds Investing Activities
SaleLeasebackTransactionNetProceedsInvestingActivities
5000000 USD
us-gaap Sale Leaseback Transaction Net Proceeds Investing Activities
SaleLeasebackTransactionNetProceedsInvestingActivities
34000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
77000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
88000000 USD
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
4000000 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
13.88
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26000000 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
56.31
CY2015Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
102.26
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y2M29D
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
685000000 USD
CY2015Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
1488000000 USD
CY2014Q4 us-gaap Short Term Investments
ShortTermInvestments
34000000 USD
CY2015Q2 us-gaap Short Term Investments
ShortTermInvestments
160000000 USD
CY2015Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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9800000000 USD
CY2014Q4 us-gaap Stockholders Equity
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37958000000 USD
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37127000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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37133000000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
550000000 shares
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
578000000 shares
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24078000000 USD
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26988000000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1174000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1182000000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1132000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1134000000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1165000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1172000000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1124000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1126000000 shares

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