2017 Q2 Form 10-Q Financial Statement

#000002790417000013 Filed on July 13, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $10.75B $10.45B
YoY Change 2.87% -2.43%
Cost Of Revenue $4.533B $3.300B
YoY Change 37.36% -4.76%
Gross Profit $6.214B $7.147B
YoY Change -13.05% -1.31%
Gross Profit Margin 57.82% 68.41%
Selling, General & Admin $3.326B $3.152B
YoY Change 5.52% 4.13%
% of Gross Profit 53.52% 44.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $531.0M $470.0M
YoY Change 12.98% 4.91%
% of Gross Profit 8.55% 6.58%
Operating Expenses $8.765B $8.024B
YoY Change 9.23% -2.54%
Operating Profit $1.982B $2.423B
YoY Change -18.2% -2.06%
Interest Expense $103.0M $93.00M
YoY Change 10.75% -26.77%
% of Operating Profit 5.2% 3.84%
Other Income/Expense, Net -$151.0M -$73.00M
YoY Change 106.85% -32.41%
Pretax Income $1.831B $2.350B
YoY Change -22.09% -0.68%
Income Tax $645.0M $804.0M
% Of Pretax Income 35.23% 34.21%
Net Earnings $1.186B $1.546B
YoY Change -23.29% 4.11%
Net Earnings / Revenue 11.04% 14.8%
Basic Earnings Per Share $1.63 $2.04
Diluted Earnings Per Share $1.62 $2.03
COMMON SHARES
Basic Shares Outstanding 728.0M shares 758.0M shares
Diluted Shares Outstanding 731.0M shares 763.0M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.988B $2.951B
YoY Change 1.25% -22.08%
Cash & Equivalents $2.241B $1.662B
Short-Term Investments $747.0M $1.289B
Other Short-Term Assets $1.087B $1.790B
YoY Change -39.27% -61.69%
Inventory $938.0M $795.0M
Prepaid Expenses
Receivables $2.164B $2.102B
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.177B $7.638B
YoY Change -6.04% -33.24%
LONG-TERM ASSETS
Property, Plant & Equipment $25.37B $23.98B
YoY Change 5.81% 6.65%
Goodwill $9.794B $9.794B
YoY Change 0.0% 0.0%
Intangibles $4.855B $4.852B
YoY Change 0.06% 5.62%
Long-Term Investments
YoY Change
Other Assets $2.545B $1.578B
YoY Change 61.28% 43.72%
Total Long-Term Assets $45.27B $44.00B
YoY Change 2.9% 6.68%
TOTAL ASSETS
Total Short-Term Assets $7.177B $7.638B
Total Long-Term Assets $45.27B $44.00B
Total Assets $52.45B $51.63B
YoY Change 1.58% -1.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.726B $2.956B
YoY Change -7.78% 5.46%
Accrued Expenses $4.344B $4.635B
YoY Change -6.28% 29.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.098B $1.115B
YoY Change -1.52% -32.79%
Total Short-Term Liabilities $16.63B $16.25B
YoY Change 2.34% -4.87%
LONG-TERM LIABILITIES
Long-Term Debt $7.916B $6.689B
YoY Change 18.34% -11.96%
Other Long-Term Liabilities $1.885B $2.015B
YoY Change -6.45% -13.22%
Total Long-Term Liabilities $21.71B $23.57B
YoY Change -7.93% -9.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.63B $16.25B
Total Long-Term Liabilities $21.71B $23.57B
Total Liabilities $38.34B $39.82B
YoY Change -3.74% -7.85%
SHAREHOLDERS EQUITY
Retained Earnings $8.905B $10.00B
YoY Change -10.95% 80.51%
Common Stock $12.28B $9.361B
YoY Change 31.17% -19.86%
Preferred Stock
YoY Change
Treasury Stock (at cost) $156.0M $272.0M
YoY Change -42.65% -26.49%
Treasury Stock Shares 7.422M shares 14.08M shares
Shareholders Equity $13.48B $11.81B
YoY Change
Total Liabilities & Shareholders Equity $51.82B $51.63B
YoY Change 0.35% -2.17%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $1.186B $1.546B
YoY Change -23.29% 4.11%
Depreciation, Depletion And Amortization $531.0M $470.0M
YoY Change 12.98% 4.91%
Cash From Operating Activities $2.369B $3.215B
YoY Change -26.31% 17.12%
INVESTING ACTIVITIES
Capital Expenditures -$988.0M -$1.046B
YoY Change -5.54% 13.82%
Acquisitions
YoY Change
Other Investing Activities $30.00M -$66.00M
YoY Change -145.45% 83.33%
Cash From Investing Activities -$958.0M -$1.112B
YoY Change -13.85% 16.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.074B -2.149B
YoY Change -50.02% 32.74%
NET CHANGE
Cash From Operating Activities 2.369B 3.215B
Cash From Investing Activities -958.0M -1.112B
Cash From Financing Activities -1.074B -2.149B
Net Change In Cash 337.0M -46.00M
YoY Change -832.61% -126.9%
FREE CASH FLOW
Cash From Operating Activities $2.369B $3.215B
Capital Expenditures -$988.0M -$1.046B
Free Cash Flow $3.357B $4.261B
YoY Change -21.22% 16.29%

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us-gaap Net Income Loss
NetIncomeLoss
2492000000 USD
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.68
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.51
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.25
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.68
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.50
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.23
CY2017Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.14
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.41
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.27
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1246000000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1546000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1914000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2488000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1585000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4226000000 USD
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
1292000000 USD
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
1644000000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
498000000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
273000000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
622000000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
567000000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
866000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
307000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
1051000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
40000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-19000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1713000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
564000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1149000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
800000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1801000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
297000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
210000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
341000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
4000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2004000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
450000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-78000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-117000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
606000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2823000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-521000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-310000000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2762000000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1972000000 USD
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2241000000 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1662000000 USD
us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
350000000 USD
us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
350000000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
208000000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
50000000 USD
CY2017Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
1720000000 USD
CY2017Q2 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
63000000 USD
CY2017Q2 us-gaap Price Risk Derivatives At Fair Value Net
PriceRiskDerivativesAtFairValueNet
-203000000 USD
CY2017Q2 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
-4000000 USD
CY2017Q2 us-gaap Foreign Currency Cash Flow Hedge Derivative At Fair Value Net
ForeignCurrencyCashFlowHedgeDerivativeAtFairValueNet
-7000000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
2279000000 USD
CY2016Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
61000000 USD
CY2016Q4 us-gaap Price Risk Derivatives At Fair Value Net
PriceRiskDerivativesAtFairValueNet
-324000000 USD
CY2016Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
6000000 USD
CY2016Q4 us-gaap Foreign Currency Cash Flow Hedge Derivative At Fair Value Net
ForeignCurrencyCashFlowHedgeDerivativeAtFairValueNet
27000000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
239000000 USD
CY2017Q2 dal Available For Sale Securities Debt Maturities After One Year Through Three Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneYearThroughThreeYearsFairValue
438000000 USD
CY2017Q2 dal Available For Sale Securities Debt Maturities After Three Years Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterThreeYearsThroughFiveYearsFairValue
51000000 USD
CY2017Q2 dal Available For Sale Securities Debt Maturities After Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue
19000000 USD
CY2017Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
747000000 USD
CY2017Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-214000000 USD
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-291000000 USD
CY2017Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-214000000 USD
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-291000000 USD
CY2017Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
8678000000 USD
CY2016Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
7112000000 USD
CY2017Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
108000000 USD
CY2016Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
104000000 USD
CY2017Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
8570000000 USD
CY2016Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
7008000000 USD
CY2017Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
8900000000 USD
CY2016Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
7300000000 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
3200000000 USD
dal Treasury Stock Contributedto Qualified Defined Benefit Pension Plan Amount
TreasuryStockContributedtoQualifiedDefinedBenefitPensionPlanAmount
350000000 USD
CY2017Q2 dei Entity Number Of Employees
EntityNumberOfEmployees
87000 employee
CY2017Q2 dal Percentage Of Employees Represented By Unions Under Collective Bargaining Agreements
PercentageOfEmployeesRepresentedByUnionsUnderCollectiveBargainingAgreements
0.16
CY2017Q2 us-gaap Revenues
Revenues
10791000000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2028000000 USD
CY2017Q2 us-gaap Interest Expense
InterestExpense
103000000 USD
CY2017Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
535000000 USD
CY2017Q2 us-gaap Assets
Assets
51815000000 USD
CY2017Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
988000000 USD
CY2016Q2 us-gaap Revenues
Revenues
10447000000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2423000000 USD
CY2016Q2 us-gaap Interest Expense
InterestExpense
93000000 USD
CY2016Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
470000000 USD
CY2016Q2 us-gaap Assets
Assets
51634000000 USD
CY2016Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1046000000 USD
us-gaap Revenues
Revenues
19939000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
3081000000 USD
us-gaap Interest Expense
InterestExpense
197000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1075000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1790000000 USD
us-gaap Revenues
Revenues
19698000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
3963000000 USD
us-gaap Interest Expense
InterestExpense
200000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
956000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1917000000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
1224000000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
1546000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1827000000 USD
us-gaap Net Income Loss
NetIncomeLoss
2492000000 USD
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
728000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
758000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
728000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
766000000 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6000000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
731000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
763000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
731000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
772000000 shares
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.68
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.51
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.25
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.68
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.50
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.23

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