2020 Q3 Form 10-Q Financial Statement

#000162828020015004 Filed on October 28, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q4 2019 Q3
Revenue $686.5M $837.5M $772.3M
YoY Change -11.11% -0.25% -9.76%
Cost Of Revenue $443.3M $548.1M $494.4M
YoY Change -10.34% 0.64% -9.25%
Gross Profit $243.2M $289.4M $277.9M
YoY Change -12.49% -1.9% -10.64%
Gross Profit Margin 35.43% 34.56% 35.98%
Selling, General & Admin $164.6M $165.4M $166.8M
YoY Change -1.32% -5.32% -7.23%
% of Gross Profit 67.68% 57.15% 60.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.40M $29.30M $27.90M
YoY Change 16.13% -18.38% 0.36%
% of Gross Profit 13.32% 10.12% 10.04%
Operating Expenses $164.6M $184.3M $166.8M
YoY Change -1.32% 5.5% -7.23%
Operating Profit $75.90M -$135.4M $109.3M
YoY Change -30.56% -222.98% -11.78%
Interest Expense $14.40M -$11.00M $11.70M
YoY Change 23.08% 4.76% -4.88%
% of Operating Profit 18.97% 10.7%
Other Income/Expense, Net -$9.400M $500.0K -$15.60M
YoY Change -39.74% -89.58% 155.74%
Pretax Income $66.50M -$145.9M $93.70M
YoY Change -29.03% -239.75% -20.46%
Income Tax $17.10M -$33.40M $21.10M
% Of Pretax Income 25.71% 22.52%
Net Earnings $56.60M -$112.6M $72.50M
YoY Change -21.93% -226.23% -25.26%
Net Earnings / Revenue 8.24% -13.44% 9.39%
Basic Earnings Per Share $0.97 -$1.89 $1.21
Diluted Earnings Per Share $0.97 -$1.89 $1.19
COMMON SHARES
Basic Shares Outstanding 58.10M shares 60.00M shares
Diluted Shares Outstanding 58.50M shares 60.80M shares

Balance Sheet

Concept 2020 Q3 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $544.6M $393.9M $388.8M
YoY Change 40.07% 14.71% 20.15%
Cash & Equivalents $544.6M $393.9M $388.8M
Short-Term Investments
Other Short-Term Assets $167.9M $79.50M $72.40M
YoY Change 131.91% 4.33% -6.7%
Inventory $456.0M $457.3M $445.5M
Prepaid Expenses
Receivables $439.5M $555.1M $534.2M
Other Receivables $14.10M $14.10M $16.00M
Total Short-Term Assets $1.622B $1.500B $1.457B
YoY Change 11.34% 10.05% 3.83%
LONG-TERM ASSETS
Property, Plant & Equipment $595.6M $616.3M $581.8M
YoY Change 2.37% 2.87% -2.14%
Goodwill $1.590B $1.301B $1.406B
YoY Change 13.11% -7.31% -0.11%
Intangibles $526.9M $503.7M $445.4M
YoY Change 18.3% 5.31% -9.49%
Long-Term Investments
YoY Change
Other Assets $207.1M $211.3M $204.6M
YoY Change 1.22% 108.38% 65.27%
Total Long-Term Assets $3.001B $2.924B $2.702B
YoY Change 11.08% 9.11% -0.19%
TOTAL ASSETS
Total Short-Term Assets $1.622B $1.500B $1.457B
Total Long-Term Assets $3.001B $2.924B $2.702B
Total Assets $4.623B $4.424B $4.159B
YoY Change 11.17% 9.42% 1.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $225.8M $311.1M $257.0M
YoY Change -12.14% -5.5% -4.25%
Accrued Expenses $361.7M $378.2M $307.6M
YoY Change 17.59% 12.19% -15.73%
Deferred Revenue $79.00M $88.40M $42.10M
YoY Change 87.65% 74.02% -41.36%
Short-Term Debt $481.4M $149.4M $7.400M
YoY Change 6405.41% 2065.22% -93.04%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.143B $916.7M $649.0M
YoY Change 76.13% 23.84% -22.24%
LONG-TERM LIABILITIES
Long-Term Debt $842.7M $842.0M $934.9M
YoY Change -9.86% -10.64% -0.28%
Other Long-Term Liabilities $176.4M $187.9M $164.7M
YoY Change 7.1% 122.1% 65.2%
Total Long-Term Liabilities $1.019B $1.030B $1.100B
YoY Change -7.32% 0.29% 6.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.143B $916.7M $649.0M
Total Long-Term Liabilities $1.019B $1.030B $1.100B
Total Liabilities $3.114B $2.947B $2.459B
YoY Change 26.66% 17.16% -4.73%
SHAREHOLDERS EQUITY
Retained Earnings $2.171B $2.112B $2.248B
YoY Change -3.42% 1.94% 12.19%
Common Stock $72.40M $72.40M $72.40M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $601.4M $542.8M $463.3M
YoY Change 29.81% 13.99% 1.87%
Treasury Stock Shares 14.32M shares 13.42M shares 12.45M shares
Shareholders Equity $1.507B $1.474B $1.698B
YoY Change
Total Liabilities & Shareholders Equity $4.623B $4.424B $4.159B
YoY Change 11.17% 9.42% 1.18%

Cashflow Statement

Concept 2020 Q3 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $56.60M -$112.6M $72.50M
YoY Change -21.93% -226.23% -25.26%
Depreciation, Depletion And Amortization $32.40M $29.30M $27.90M
YoY Change 16.13% -18.38% 0.36%
Cash From Operating Activities $131.5M $222.9M $118.5M
YoY Change 10.97% 16.46% 30.22%
INVESTING ACTIVITIES
Capital Expenditures -$7.100M -$17.90M -$14.80M
YoY Change -52.03% -46.08% -53.16%
Acquisitions
YoY Change
Other Investing Activities -$55.70M -$154.4M $10.30M
YoY Change -640.78% -4925.0% -58.96%
Cash From Investing Activities -$62.80M -$172.3M -$4.500M
YoY Change 1295.56% 474.33% -30.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -127.6M -55.60M -23.70M
YoY Change 438.4% -59.39% -68.48%
NET CHANGE
Cash From Operating Activities 131.5M 222.9M 118.5M
Cash From Investing Activities -62.80M -172.3M -4.500M
Cash From Financing Activities -127.6M -55.60M -23.70M
Net Change In Cash -58.90M -5.000M 90.30M
YoY Change -165.23% -120.41% 870.97%
FREE CASH FLOW
Cash From Operating Activities $131.5M $222.9M $118.5M
Capital Expenditures -$7.100M -$17.90M -$14.80M
Free Cash Flow $138.6M $240.8M $133.3M
YoY Change 3.98% 7.21% 8.73%

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us-gaap Net Cash Provided By Used In Financing Activities
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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Revenues
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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60800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2020Q3 us-gaap Earnings Per Share Diluted
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CY2019Q3 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
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CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q1 us-gaap Profit Loss
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CY2019Q1 us-gaap Dividends Common Stock Cash
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CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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5500000 USD
CY2019Q1 cr Impacttoequityfromdeconsolidationofjointventure
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CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q2 us-gaap Profit Loss
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3600000 USD
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us-gaap Effective Income Tax Rate Continuing Operations
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200000 USD
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500000 USD
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200000 USD
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500000 USD
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5300000 USD
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7900000 USD
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69900000 USD
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42200000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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42000000.0 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
505100000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
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481800000 USD
cr Finiteand Indefinitelivedintangibleassetsacquired
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52500000 USD
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66000000.0 USD
us-gaap Amortization Of Intangible Assets
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36100000 USD
CY2019 us-gaap Amortization Of Intangible Assets
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40000000.0 USD
us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
5400000 USD
CY2019 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
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CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
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IntangibleAssetsNetExcludingGoodwill
505100000 USD
us-gaap Finite Lived Intangible Asset Useful Life
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P18Y
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946600000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
419700000 USD
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
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526900000 USD
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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890000000.0 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
384900000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
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505100000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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11200000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
42500000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
318700000 USD
CY2020Q3 us-gaap Employee Related Liabilities Current
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118900000 USD
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CY2020Q3 us-gaap Product Warranty Accrual
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11000000.0 USD
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CY2020Q3 us-gaap Operating Lease Liability Current
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23300000 USD
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24000000.0 USD
CY2020Q3 us-gaap Contract With Customer Liability Current
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378200000 USD
CY2019Q4 us-gaap Product Warranty Accrual
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11000000.0 USD
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ProductWarrantyAccrual
18200000 USD
us-gaap Product Warranty Expense
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7500000 USD
CY2019 us-gaap Product Warranty Expense
ProductWarrantyExpense
8900000 USD
cr Standardand Extended Product Warranty Accrual Changes From Business Acquisition Divestiture
StandardandExtendedProductWarrantyAccrualChangesFromBusinessAcquisitionDivestiture
300000 USD
CY2019 cr Standardand Extended Product Warranty Accrual Changes From Business Acquisition Divestiture
StandardandExtendedProductWarrantyAccrualChangesFromBusinessAcquisitionDivestiture
0 USD
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7900000 USD
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16000000.0 USD
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StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
100000 USD
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StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
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CY2020Q3 us-gaap Product Warranty Accrual
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11000000.0 USD
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11000000.0 USD
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CY2019Q4 us-gaap Short Term Borrowings
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CY2020Q3 us-gaap Long Term Debt Noncurrent
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842700000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
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842000000.0 USD
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43900000 USD
CY2019Q4 us-gaap Derivative Notional Amount
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56600000 USD
CY2020Q3 us-gaap Derivative Assets
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100000 USD
CY2019Q4 us-gaap Derivative Assets
DerivativeAssets
100000 USD
CY2019Q4 us-gaap Derivative Liabilities
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100000 USD
CY2020Q3 us-gaap Debt Instrument Fair Value
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60000000.0 USD
CY2020Q3 us-gaap Other Assets Fair Value Disclosure
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1400000 USD
CY2020Q3 us-gaap Long Term Debt Fair Value
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CY2019Q4 us-gaap Long Term Debt Fair Value
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922300000 USD
CY2020Q3 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2019Q3 us-gaap Restructuring Charges
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1600000 USD
us-gaap Restructuring Charges
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22600000 USD
us-gaap Restructuring Charges
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us-gaap Severance Costs1
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us-gaap Other Restructuring Costs
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us-gaap Restructuring Charges
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22600000 USD
us-gaap Severance Costs1
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2000000.0 USD
us-gaap Other Restructuring Costs
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4100000 USD
us-gaap Restructuring Charges
RestructuringCharges
6100000 USD

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