2017 Q4 Form 10-Q Financial Statement

#000166670017000026 Filed on November 06, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $20.07B $15.35B $12.48B
YoY Change 54.12% 23.0%
Cost Of Revenue -$23.57B $12.19B $9.840B
YoY Change -322.92% 23.84%
Gross Profit $3.416B $3.168B $2.643B
YoY Change 39.66% 19.86%
Gross Profit Margin 17.02% 20.63% 21.17%
Selling, General & Admin -$853.0M $1.001B $738.0M
YoY Change -207.97% 35.64%
% of Gross Profit -24.97% 31.6% 27.92%
Research & Development -$686.0M $528.0M $399.0M
YoY Change -261.41% 32.33%
% of Gross Profit -20.08% 16.67% 15.1%
Depreciation & Amortization $1.451B $1.001B $780.0M
YoY Change 82.52% 28.33%
% of Gross Profit 42.48% 31.6% 29.51%
Operating Expenses -$1.419B $1.529B $1.137B
YoY Change -210.09% 34.48%
Operating Profit $4.835B $1.639B $1.506B
YoY Change 317.89% 8.83%
Interest Expense $693.0M -$131.0M -$150.0M
YoY Change 3050.0% -12.67%
% of Operating Profit 14.33% -7.99% -9.96%
Other Income/Expense, Net -$75.00M $394.0M $22.00M
YoY Change 1690.91%
Pretax Income -$5.592B $1.125B $1.089B
YoY Change 2724.24% 3.31%
Income Tax -$1.911B $571.0M $271.0M
% Of Pretax Income 50.76% 24.89%
Net Earnings -$1.263B $514.0M $804.0M
YoY Change -2528.85% -36.07%
Net Earnings / Revenue -6.29% 3.35% 6.44%
Basic Earnings Per Share $0.32 $0.64
Diluted Earnings Per Share -$2.486M $0.32 $0.63
COMMON SHARES
Basic Shares Outstanding 2.340B shares 1.578B shares 1.112B shares
Diluted Shares Outstanding 1.595B shares 1.127B shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.44B $14.97B
YoY Change 103.45%
Cash & Equivalents $13.44B $13.15B $7.032B
Short-Term Investments $4.000M $1.826B
Other Short-Term Assets $1.614B $1.145B
YoY Change 127.0%
Inventory $16.99B $17.26B
Prepaid Expenses
Receivables $11.31B $11.25B
Other Receivables $5.579B $7.006B
Total Short-Term Assets $49.89B $54.80B
YoY Change 110.88%
LONG-TERM ASSETS
Property, Plant & Equipment $36.25B $36.22B
YoY Change 54.33%
Goodwill $34.82B $60.70B
YoY Change 128.0%
Intangibles $33.27B $33.42B
YoY Change 452.17%
Long-Term Investments $1.896B $5.650B
YoY Change -49.4%
Other Assets $2.774B $2.736B
YoY Change 390.97%
Total Long-Term Assets $142.0B $143.7B
YoY Change 154.27%
TOTAL ASSETS
Total Short-Term Assets $49.89B $54.80B
Total Long-Term Assets $142.0B $143.7B
Total Assets $191.9B $198.5B
YoY Change 141.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.134B $7.648B
YoY Change 102.12%
Accrued Expenses $8.409B $7.849B
YoY Change 87.66%
Deferred Revenue $2.131B
YoY Change
Short-Term Debt $1.948B $5.176B
YoY Change 616.18%
Long-Term Debt Due $2.067B $1.906B
YoY Change 225.51%
Total Short-Term Liabilities $26.13B $27.28B
YoY Change 107.3%
LONG-TERM LIABILITIES
Long-Term Debt $30.06B $29.82B
YoY Change 46.93%
Other Long-Term Liabilities $7.969B $8.092B
YoY Change 43.33%
Total Long-Term Liabilities $7.969B $8.092B
YoY Change 43.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.13B $27.28B
Total Long-Term Liabilities $7.969B $8.092B
Total Liabilities $34.10B $35.37B
YoY Change 87.72%
SHAREHOLDERS EQUITY
Retained Earnings $29.21B $31.37B
YoY Change -3.71%
Common Stock $23.00M $23.00M
YoY Change -99.26%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.000B $0.00
YoY Change -39.72%
Treasury Stock Shares 4.708M shares 0.000 shares
Shareholders Equity $100.3B $102.9B
YoY Change
Total Liabilities & Shareholders Equity $192.2B $198.5B
YoY Change 141.68%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$1.263B $514.0M $804.0M
YoY Change -2528.85% -36.07%
Depreciation, Depletion And Amortization $1.451B $1.001B $780.0M
YoY Change 82.52% 28.33%
Cash From Operating Activities $1.882B -$2.458B $3.719B
YoY Change -128.19% -166.09%
INVESTING ACTIVITIES
Capital Expenditures -$1.454B -$754.0M -$2.877B
YoY Change 56.85% -73.79%
Acquisitions
YoY Change
Other Investing Activities $5.625B $10.72B $379.0M
YoY Change -33.96% 2727.44%
Cash From Investing Activities $4.171B $9.962B -$2.498B
YoY Change -45.05% -498.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.000B
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.244B -620.0M -2.792B
YoY Change 329.13% -77.79%
NET CHANGE
Cash From Operating Activities 1.882B -2.458B 3.719B
Cash From Investing Activities 4.171B 9.962B -2.498B
Cash From Financing Activities -5.244B -620.0M -2.792B
Net Change In Cash 809.0M 6.884B -1.571B
YoY Change -362.66% -538.19%
FREE CASH FLOW
Cash From Operating Activities $1.882B -$2.458B $3.719B
Capital Expenditures -$1.454B -$754.0M -$2.877B
Free Cash Flow $3.336B -$1.704B $6.596B
YoY Change -158.03% -125.83%

Facts In Submission

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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Equity Method Investments
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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
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us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Diluted
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Costs Associated With Exit Or Disposal Activities Or Restructurings Policy Ongoing Benefit Arrangements
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company routinely reviews its operations around the world in an effort to ensure competitiveness across its businesses and geographic regions. When the reviews result in a workforce reduction related to the shutdown of facilities or other optimization activities, severance benefits are provided to employees primarily under Dow and DuPont's ongoing benefit arrangements. These severance costs are accrued once management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated. </font></div></div>
us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The Company&#8217;s consolidated financial statements include amounts that are based on management&#8217;s best estimates and judgments. Actual results could differ from those estimates. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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