2020 Q1 Form 10-Q Financial Statement

#000166670020000017 Filed on May 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $3.670B $3.879B
YoY Change -5.39% -30.7%
Cost Of Revenue $2.319B $2.609B
YoY Change -11.12% -31.43%
Gross Profit $1.351B $1.270B
YoY Change 6.38% -75.55%
Gross Profit Margin 36.81% 32.74%
Selling, General & Admin $482.0M $726.0M
YoY Change -33.61% -57.64%
% of Gross Profit 35.68% 57.17%
Research & Development $173.0M $267.0M
YoY Change -35.21% -65.23%
% of Gross Profit 12.81% 21.02%
Depreciation & Amortization $345.0M $1.519B
YoY Change -77.29% 2.36%
% of Gross Profit 25.54% 119.61%
Operating Expenses $655.0M $993.0M
YoY Change -34.04% -59.99%
Operating Profit $696.0M $277.0M
YoY Change 151.26% -89.79%
Interest Expense -$133.0M -$132.0M
YoY Change 0.76% 22.22%
% of Operating Profit -19.11% -47.65%
Other Income/Expense, Net $212.0M $84.00M
YoY Change 152.38% -26.96%
Pretax Income -$456.0M -$165.0M
YoY Change 176.36% -110.7%
Income Tax $94.00M -$91.00M
% Of Pretax Income
Net Earnings -$616.0M $521.0M
YoY Change -218.23% -52.33%
Net Earnings / Revenue -16.78% 13.43%
Basic Earnings Per Share -$0.83 $0.69
Diluted Earnings Per Share -$0.83 $0.69
COMMON SHARES
Basic Shares Outstanding 738.6M shares 750.0M shares
Diluted Shares Outstanding 738.6M shares 750.0M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.748B $11.66B
YoY Change -85.01% 10.67%
Cash & Equivalents $1.748B $11.54B
Short-Term Investments $119.0M
Other Short-Term Assets $365.0M $2.236B
YoY Change -83.68% 25.97%
Inventory $4.410B $16.60B
Prepaid Expenses
Receivables $3.901B $13.96B
Other Receivables $0.00 $4.783B
Total Short-Term Assets $10.39B $49.25B
YoY Change -78.9% -1.64%
LONG-TERM ASSETS
Property, Plant & Equipment $9.912B $35.58B
YoY Change -72.14% -1.39%
Goodwill $32.32B $58.95B
YoY Change -45.18% -2.55%
Intangibles $12.83B $30.47B
YoY Change -57.88% -7.58%
Long-Term Investments $1.227B $4.687B
YoY Change -73.82% -9.55%
Other Assets $1.040B $5.801B
YoY Change -82.07% 105.93%
Total Long-Term Assets $57.60B $140.5B
YoY Change -59.02% -1.27%
TOTAL ASSETS
Total Short-Term Assets $10.39B $49.25B
Total Long-Term Assets $57.60B $140.5B
Total Assets $67.99B $189.8B
YoY Change -64.18% -1.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.846B $8.333B
YoY Change -65.85% -4.81%
Accrued Expenses $1.434B $8.672B
YoY Change -83.46% 1.07%
Deferred Revenue $69.00M $2.266B
YoY Change -96.95% 11.24%
Short-Term Debt $0.00 $2.995B
YoY Change -100.0% 24.22%
Long-Term Debt Due $3.925B $4.009B
YoY Change -2.1% 48.1%
Total Short-Term Liabilities $8.545B $28.58B
YoY Change -70.1% 8.65%
LONG-TERM LIABILITIES
Long-Term Debt $13.62B $34.97B
YoY Change -61.05% 19.16%
Other Long-Term Liabilities $1.238B $10.15B
YoY Change -87.81% 25.56%
Total Long-Term Liabilities $1.238B $10.15B
YoY Change -87.81% 25.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.545B $28.58B
Total Long-Term Liabilities $1.238B $10.15B
Total Liabilities $27.87B $38.73B
YoY Change -28.05% 12.63%
SHAREHOLDERS EQUITY
Retained Earnings -$9.251B $29.76B
YoY Change -131.08% 2.11%
Common Stock $7.000M $24.00M
YoY Change -70.83% 4.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.000B
YoY Change 250.0%
Treasury Stock Shares 112.3M shares
Shareholders Equity $39.55B $92.44B
YoY Change
Total Liabilities & Shareholders Equity $67.99B $189.8B
YoY Change -64.18% -1.37%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$616.0M $521.0M
YoY Change -218.23% -52.33%
Depreciation, Depletion And Amortization $345.0M $1.519B
YoY Change -77.29% 2.36%
Cash From Operating Activities $718.0M $26.00M
YoY Change 2661.54% -101.22%
INVESTING ACTIVITIES
Capital Expenditures -$481.0M -$1.139B
YoY Change -57.77% 46.78%
Acquisitions
YoY Change
Other Investing Activities $357.0M $5.000M
YoY Change 7040.0% 150.0%
Cash From Investing Activities -$124.0M -$1.000B
YoY Change -87.6% -444.83%
FINANCING ACTIVITIES
Cash Dividend Paid $851.0M
YoY Change -3.3%
Common Stock Issuance & Retirement, Net $232.0M $1.516B
YoY Change -84.7% 69.96%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -344.0M -$1.032B
YoY Change -66.67% -33.12%
NET CHANGE
Cash From Operating Activities 718.0M $26.00M
Cash From Investing Activities -124.0M -$1.000B
Cash From Financing Activities -344.0M -$1.032B
Net Change In Cash $205.0M -$1.956B
YoY Change -110.48% -38.53%
FREE CASH FLOW
Cash From Operating Activities $718.0M $26.00M
Capital Expenditures -$481.0M -$1.139B
Free Cash Flow $1.199B $1.165B
YoY Change 2.92% -185.6%

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CY2019Q1 us-gaap Allocated Share Based Compensation Expense
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21000000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
9000000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4000000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
800000 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.84
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
53.50
CY2020Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
771000000 USD
CY2020Q1 dd Cash Equivalents Accumulated Gross Unrealized Gain Before Tax
CashEquivalentsAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2020Q1 dd Cash Equivalents Accumulated Gross Unrealized Loss Before Tax
CashEquivalentsAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q1 dd Cash Equivalents Fair Value
CashEquivalentsFairValue
771000000 USD
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
417000000 USD
CY2019Q4 dd Cash Equivalents Accumulated Gross Unrealized Gain Before Tax
CashEquivalentsAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2019Q4 dd Cash Equivalents Accumulated Gross Unrealized Loss Before Tax
CashEquivalentsAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2019Q4 dd Cash Equivalents Fair Value
CashEquivalentsFairValue
417000000 USD
CY2019Q4 dd Money Market Funds Fair Value
MoneyMarketFundsFairValue
37000000 USD
CY2020Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
34000000 USD
CY2020Q1 dd Money Market Funds Accumulated Gross Unrealized Gain Before Tax
MoneyMarketFundsAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2020Q1 dd Money Market Funds Accumulated Gross Unrealized Loss Before Tax
MoneyMarketFundsAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q1 dd Money Market Funds Fair Value
MoneyMarketFundsFairValue
34000000 USD
CY2019Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
37000000 USD
CY2019Q4 dd Money Market Funds Accumulated Gross Unrealized Gain Before Tax
MoneyMarketFundsAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2019Q4 dd Money Market Funds Accumulated Gross Unrealized Loss Before Tax
MoneyMarketFundsAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q1 dd Cashand Restricted Cash Equivalents Marketable Securitiesand Other Investments Amortized Cost Basis
CashandRestrictedCashEquivalentsMarketableSecuritiesandOtherInvestmentsAmortizedCostBasis
805000000 USD
CY2020Q1 dd Cashand Restricted Cash Equivalents Marketable Securitiesand Other Investments Accumulated Gross Unrealized Gain Before Tax
CashandRestrictedCashEquivalentsMarketableSecuritiesandOtherInvestmentsAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2020Q1 dd Cashand Restricted Cash Equivalents Marketable Securitiesand Other Investments Accumulated Gross Unrealized Loss Before Tax
CashandRestrictedCashEquivalentsMarketableSecuritiesandOtherInvestmentsAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q1 dd Cashand Restricted Cash Equivalents Marketable Securitiesand Other Investments Fair Value
CashandRestrictedCashEquivalentsMarketableSecuritiesandOtherInvestmentsFairValue
805000000 USD
CY2019Q4 dd Cashand Restricted Cash Equivalents Marketable Securitiesand Other Investments Amortized Cost Basis
CashandRestrictedCashEquivalentsMarketableSecuritiesandOtherInvestmentsAmortizedCostBasis
454000000 USD
CY2019Q4 dd Cashand Restricted Cash Equivalents Marketable Securitiesand Other Investments Accumulated Gross Unrealized Gain Before Tax
CashandRestrictedCashEquivalentsMarketableSecuritiesandOtherInvestmentsAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2019Q4 dd Cashand Restricted Cash Equivalents Marketable Securitiesand Other Investments Accumulated Gross Unrealized Loss Before Tax
CashandRestrictedCashEquivalentsMarketableSecuritiesandOtherInvestmentsAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2019Q4 dd Cashand Restricted Cash Equivalents Marketable Securitiesand Other Investments Fair Value
CashandRestrictedCashEquivalentsMarketableSecuritiesandOtherInvestmentsFairValue
454000000 USD
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
-15620000000 USD
CY2020Q1 dd Long Term Debt Accumulated Gross Unrealized Gain Before Tax
LongTermDebtAccumulatedGrossUnrealizedGainBeforeTax
38000000 USD
CY2020Q1 dd Long Term Debt Accumulated Gross Unrealized Loss Before Tax
LongTermDebtAccumulatedGrossUnrealizedLossBeforeTax
-1209000000 USD
CY2019Q4 dd Long Term Debt Accumulated Gross Unrealized Gain Before Tax
LongTermDebtAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2020Q1 dd Long Term Debt Including Debt Duewithinoneyear Fair Value
LongTermDebtIncludingDebtDuewithinoneyearFairValue
-16791000000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
-15618000000 USD
CY2020Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
197000000 USD
CY2020Q1 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-947000000 USD
CY2019Q4 dd Long Term Debt Accumulated Gross Unrealized Loss Before Tax
LongTermDebtAccumulatedGrossUnrealizedLossBeforeTax
-1633000000 USD
CY2019Q4 dd Long Term Debt Including Debt Duewithinoneyear Fair Value
LongTermDebtIncludingDebtDuewithinoneyearFairValue
-17251000000 USD
CY2020Q1 dd Derivative Assets Liabilities Accumulated Gross Unrealized Gain Before Tax
DerivativeAssetsLiabilitiesAccumulatedGrossUnrealizedGainBeforeTax
12000000 USD
CY2020Q1 dd Derivative Assets Liabilities Accumulated Gross Unrealized Loss Before Tax
DerivativeAssetsLiabilitiesAccumulatedGrossUnrealizedLossBeforeTax
-11000000 USD
CY2020Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
1000000 USD
CY2019Q4 dd Derivative Assets Liabilities Accumulated Gross Unrealized Gain Before Tax
DerivativeAssetsLiabilitiesAccumulatedGrossUnrealizedGainBeforeTax
6000000 USD
CY2019Q4 dd Derivative Assets Liabilities Accumulated Gross Unrealized Loss Before Tax
DerivativeAssetsLiabilitiesAccumulatedGrossUnrealizedLossBeforeTax
-7000000 USD
CY2019Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-1000000 USD
CY2020Q1 us-gaap Revenues
Revenues
5221000000 USD
CY2020Q1 dd Operating Income Loss Before Interest Taxes Depreciation Amortization Foreign Exchange Gains Losses And Significant Items
OperatingIncomeLossBeforeInterestTaxesDepreciationAmortizationForeignExchangeGainsLossesAndSignificantItems
1321000000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
39000000 USD
CY2019Q1 us-gaap Revenues
Revenues
5414000000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-610000000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
44000000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-566000000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
772000000 USD
CY2020Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000000 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
11000000 USD
CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-8000000 USD
CY2020Q1 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-947000000 USD
CY2020Q1 dd Operating Income Loss Before Interest Taxes Depreciation Amortization Foreign Exchange Gains Losses And Significant Items
OperatingIncomeLossBeforeInterestTaxesDepreciationAmortizationForeignExchangeGainsLossesAndSignificantItems
1321000000 USD
CY2020Q1 dd Business Combination Integration And Separation Related Costs Including Adjustments
BusinessCombinationIntegrationAndSeparationRelatedCostsIncludingAdjustments
197000000 USD
CY2020Q1 dd Restructuring Settlementand Impairment Provisions Including Adjustments
RestructuringSettlementandImpairmentProvisionsIncludingAdjustments
134000000 USD
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
533000000 USD
CY2020Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
270000000 USD

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