2020 Q4 Form 10-Q Financial Statement

#000166670020000053 Filed on October 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $3.750B $3.629B $3.746B
YoY Change 0.11% -6.97% -31.35%
Cost Of Revenue $2.474B $2.417B $2.439B
YoY Change 1.44% -4.2% -33.03%
Gross Profit $1.276B $1.212B $1.307B
YoY Change -2.37% -12.05% -71.16%
Gross Profit Margin 34.03% 33.4% 34.89%
Selling, General & Admin $537.0M $403.0M $650.0M
YoY Change -17.38% -37.52% -10.59%
% of Gross Profit 42.08% 33.25% 49.73%
Research & Development $216.0M $140.0M $231.0M
YoY Change -6.49% -37.78% -11.83%
% of Gross Profit 16.93% 11.55% 17.67%
Depreciation & Amortization $768.0M $780.0M $533.0M
YoY Change 44.09% 56.31% -63.69%
% of Gross Profit 60.19% 64.36% 40.78%
Operating Expenses $1.259B $543.0M $1.207B
YoY Change 4.31% -37.59% 0.08%
Operating Profit $17.00M $669.0M $100.0M
YoY Change -83.0% 31.69% -96.99%
Interest Expense -$187.0M -$174.0M -$227.0M
YoY Change -17.62% 11.54% -175.42%
% of Operating Profit -1100.0% -26.01% -227.0%
Other Income/Expense, Net $8.000M $430.0M $14.00M
YoY Change -42.86% 444.3% -17.65%
Pretax Income $156.0M $208.0M $189.0M
YoY Change -17.46% -53.78% -39.03%
Income Tax -$123.0M $122.0M $63.00M
% Of Pretax Income -78.85% 58.65% 33.33%
Net Earnings $222.0M -$79.00M $176.0M
YoY Change 26.14% -121.24% -63.49%
Net Earnings / Revenue 5.92% -2.18% 4.7%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share $302.0K -$0.11 $237.5K
COMMON SHARES
Basic Shares Outstanding 733.8M shares 734.4M shares 740.8M shares
Diluted Shares Outstanding 734.9M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.544B $4.008B $1.540B
YoY Change 65.19% 89.68% -82.19%
Cash & Equivalents $2.544B $4.008B $1.540B
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $181.0M $238.0M $257.0M
YoY Change -29.57% -22.48% -15.74%
Inventory $2.393B $3.902B $2.897B
Prepaid Expenses
Receivables $1.850B $3.623B $2.047B
Other Receivables $510.0M $0.00 $653.0M
Total Short-Term Assets $29.01B $12.61B $9.999B
YoY Change 190.11% 17.95% -92.11%
LONG-TERM ASSETS
Property, Plant & Equipment $6.867B $9.686B $7.100B
YoY Change -3.28% -0.13% -28.41%
Goodwill $18.70B $29.69B $22.14B
YoY Change -15.52% -9.85% -1.11%
Intangibles $8.072B $11.53B $9.217B
YoY Change -12.42% -16.28% -37.11%
Long-Term Investments $889.0M $951.0M $1.171B
YoY Change -24.08% -43.05% -28.68%
Other Assets $812.0M $1.066B $782.0M
YoY Change 3.84% 0.19% 483.58%
Total Long-Term Assets $41.90B $59.54B $59.35B
YoY Change -29.41% 0.17% -3.02%
TOTAL ASSETS
Total Short-Term Assets $29.01B $12.61B $9.999B
Total Long-Term Assets $41.90B $59.54B $59.35B
Total Assets $70.90B $72.14B $69.35B
YoY Change 2.24% 2.88% -63.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.222B $2.685B $2.299B
YoY Change -3.35% -8.8% -12.22%
Accrued Expenses $1.100B $1.364B $1.110B
YoY Change -0.9% -11.94% -1.68%
Deferred Revenue $16.00M $18.00M $20.00M
YoY Change -20.0% -81.05% -71.83%
Short-Term Debt $1.000M $0.00 $3.825B
YoY Change -99.97% -100.0% 25400.0%
Long-Term Debt Due $5.000M $2.394B $2.001B
YoY Change -99.75% 47780.0% 13240.0%
Total Short-Term Liabilities $12.23B $6.984B $8.345B
YoY Change 46.51% 5.56% -88.62%
LONG-TERM LIABILITIES
Long-Term Debt $21.81B $21.80B $13.62B
YoY Change 60.14% 39.67% 7.87%
Other Long-Term Liabilities $834.0M $1.033B $1.040B
YoY Change -19.81% -29.1% 36.13%
Total Long-Term Liabilities $834.0M $1.033B $1.040B
YoY Change -19.81% -29.1% 36.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.23B $6.984B $8.345B
Total Long-Term Liabilities $834.0M $1.033B $1.040B
Total Liabilities $31.83B $34.02B $27.79B
YoY Change 14.54% 20.62% -69.78%
SHAREHOLDERS EQUITY
Retained Earnings -$11.59B -$11.81B -$8.400B
YoY Change 37.93% 42.45% -127.76%
Common Stock $7.000M $7.000M $7.000M
YoY Change 0.0% 0.0% -12.5%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change -100.0%
Treasury Stock Shares 0.000 shares 0.000 shares
Shareholders Equity $38.50B $37.56B $40.99B
YoY Change
Total Liabilities & Shareholders Equity $70.90B $72.14B $69.35B
YoY Change 2.24% 2.88% -63.08%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income $222.0M -$79.00M $176.0M
YoY Change 26.14% -121.24% -63.49%
Depreciation, Depletion And Amortization $768.0M $780.0M $533.0M
YoY Change 44.09% 56.31% -63.69%
Cash From Operating Activities $1.301B $1.274B $578.0M
YoY Change 125.09% 44.44% -88.67%
INVESTING ACTIVITIES
Capital Expenditures -$272.0M -$203.0M -$381.0M
YoY Change -28.61% -30.24% -70.8%
Acquisitions
YoY Change
Other Investing Activities $35.00M $586.0M -$125.0M
YoY Change -128.0% 315.6% -144.33%
Cash From Investing Activities -$237.0M $383.0M -$506.0M
YoY Change -53.16% -355.33% -50.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.592B 4.780B -653.0M
YoY Change 296.94% -2125.42% -125.45%
NET CHANGE
Cash From Operating Activities 1.301B 1.274B 578.0M
Cash From Investing Activities -237.0M 383.0M -506.0M
Cash From Financing Activities -2.592B 4.780B -653.0M
Net Change In Cash -1.528B 6.437B -581.0M
YoY Change 162.99% 1197.78% -108.74%
FREE CASH FLOW
Cash From Operating Activities $1.301B $1.274B $578.0M
Capital Expenditures -$272.0M -$203.0M -$381.0M
Free Cash Flow $1.573B $1.477B $959.0M
YoY Change 64.03% 25.92% -85.03%

Facts In Submission

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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3053000000 USD
CY2020Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
780000000 USD
CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
499000000 USD
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
3000000 USD
CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000000 USD
CY2019Q3 us-gaap Interest And Debt Expense
InterestAndDebtExpense
177000000 USD
CY2020Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
5000000 USD
CY2019Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
21000000 USD
CY2020Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-10000000 USD
CY2019Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-23000000 USD
CY2020Q3 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-333000000 USD
CY2019Q3 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-274000000 USD
CY2020Q3 dd Operating Income Loss Before Interest Taxes Depreciation Amortization Foreign Exchange Gains Losses And Significant Items
OperatingIncomeLossBeforeInterestTaxesDepreciationAmortizationForeignExchangeGainsLossesAndSignificantItems
1300000000 USD
CY2019Q3 dd Operating Income Loss Before Interest Taxes Depreciation Amortization Foreign Exchange Gains Losses And Significant Items
OperatingIncomeLossBeforeInterestTaxesDepreciationAmortizationForeignExchangeGainsLossesAndSignificantItems
1401000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3153000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-805000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-663000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2326000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
7000000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
24000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-41000000 USD
dd Costs Historically Allocatedtothe Materials Science Businessand Agriculture Business
CostsHistoricallyAllocatedtotheMaterialsScienceBusinessandAgricultureBusiness
0 USD
us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-3954000000 USD
dd Operating Income Loss Before Interest Taxes Depreciation Amortization Foreign Exchange Gains Losses And Significant Items
OperatingIncomeLossBeforeInterestTaxesDepreciationAmortizationForeignExchangeGainsLossesAndSignificantItems
3756000000 USD
CY2020Q3 dd Business Combination Integration And Separation Related Costs Including Adjustments
BusinessCombinationIntegrationAndSeparationRelatedCostsIncludingAdjustments
127000000 USD
CY2020Q3 dd Restructuring Settlementand Impairment Provisions Including Adjustments
RestructuringSettlementandImpairmentProvisionsIncludingAdjustments
14000000 USD
CY2020Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
183000000 USD
CY2020Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
370000000 USD
CY2020Q3 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
393000000 USD
CY2020Q3 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-333000000 USD
CY2019Q3 dd Business Combination Integration And Separation Related Costs Including Adjustments
BusinessCombinationIntegrationAndSeparationRelatedCostsIncludingAdjustments
191000000 USD
CY2019Q3 dd Restructuring Settlementand Impairment Provisions Including Adjustments
RestructuringSettlementandImpairmentProvisionsIncludingAdjustments
83000000 USD
CY2019Q3 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-274000000 USD
dd Business Combination Integration And Separation Related Costs Including Adjustments
BusinessCombinationIntegrationAndSeparationRelatedCostsIncludingAdjustments
469000000 USD
dd Restructuring Settlementand Impairment Provisions Including Adjustments
RestructuringSettlementandImpairmentProvisionsIncludingAdjustments
146000000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
3214000000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
661000000 USD
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
590000000 USD
us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-3954000000 USD

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