2016 Q3 Form 10-Q Financial Statement

#000106508816000332 Filed on October 20, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $2.217B $2.099B
YoY Change 5.62% -2.37%
Cost Of Revenue $498.0M $433.0M
YoY Change 15.01% 4.84%
Gross Profit $1.719B $1.666B
YoY Change 3.18% -4.09%
Gross Profit Margin 77.54% 79.37%
Selling, General & Admin $824.0M $772.0M
YoY Change 6.74% -6.65%
% of Gross Profit 47.93% 46.34%
Research & Development $288.0M $241.0M
YoY Change 19.5% -2.03%
% of Gross Profit 16.75% 14.47%
Depreciation & Amortization $172.0M $182.0M
YoY Change -5.49% -176.79%
% of Gross Profit 10.01% 10.92%
Operating Expenses $1.177B $1.088B
YoY Change 8.18% -4.65%
Operating Profit $542.0M $578.0M
YoY Change -6.23% -3.02%
Interest Expense -$9.000M $87.00M
YoY Change -110.34% 411.76%
% of Operating Profit -1.66% 15.05%
Other Income/Expense, Net
YoY Change
Pretax Income $533.0M $665.0M
YoY Change -19.85% 8.48%
Income Tax $115.0M $120.0M
% Of Pretax Income 21.58% 18.05%
Net Earnings $413.0M $539.0M
YoY Change -23.38% -19.91%
Net Earnings / Revenue 18.63% 25.68%
Basic Earnings Per Share $0.37 $0.45
Diluted Earnings Per Share $0.36 $0.45
COMMON SHARES
Basic Shares Outstanding 1.126B shares 1.210B shares
Diluted Shares Outstanding 1.139B shares 1.223B shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.021B $5.271B
YoY Change 52.17% -49.09%
Cash & Equivalents $1.753B $2.387B
Short-Term Investments $6.268B $2.884B
Other Short-Term Assets $1.112B $1.152B
YoY Change -3.47% -16.76%
Inventory
Prepaid Expenses
Receivables $626.0M $595.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.783B $8.280B
YoY Change 18.15% -67.72%
LONG-TERM ASSETS
Property, Plant & Equipment $1.526B $1.535B
YoY Change -0.59% -45.66%
Goodwill $4.727B $4.442B
YoY Change 6.42% -51.82%
Intangibles
YoY Change
Long-Term Investments $3.921B $3.572B
YoY Change 9.77% -39.2%
Other Assets $428.0M $419.0M
YoY Change 2.15% 61.15%
Total Long-Term Assets $10.72B $10.06B
YoY Change 6.57% -46.56%
TOTAL ASSETS
Total Short-Term Assets $9.783B $8.280B
Total Long-Term Assets $10.72B $10.06B
Total Assets $20.50B $18.34B
YoY Change 11.8% -58.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $278.0M $175.0M
YoY Change 58.86% -48.38%
Accrued Expenses $1.770B $3.074B
YoY Change -42.42% -44.55%
Deferred Revenue
YoY Change
Short-Term Debt $1.449B $625.0M
YoY Change 131.84%
Long-Term Debt Due $1.450B $625.0M
YoY Change 132.0% 150.0%
Total Short-Term Liabilities $3.763B $4.436B
YoY Change -15.17% -73.1%
LONG-TERM LIABILITIES
Long-Term Debt $7.582B $6.814B
YoY Change 11.27% -7.24%
Other Long-Term Liabilities $70.00M $85.00M
YoY Change -17.65% -29.17%
Total Long-Term Liabilities $7.652B $6.899B
YoY Change 10.91% 5649.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.763B $4.436B
Total Long-Term Liabilities $7.652B $6.899B
Total Liabilities $13.68B $11.85B
YoY Change 15.51% -51.97%
SHAREHOLDERS EQUITY
Retained Earnings $9.036B $7.255B
YoY Change 24.55% -59.42%
Common Stock $2.000M $2.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.21B $15.65B
YoY Change 16.3% 21.61%
Treasury Stock Shares 523.0M shares 423.0M shares
Shareholders Equity $6.819B $6.492B
YoY Change
Total Liabilities & Shareholders Equity $20.50B $18.34B
YoY Change 11.8% -58.77%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $413.0M $539.0M
YoY Change -23.38% -19.91%
Depreciation, Depletion And Amortization $172.0M $182.0M
YoY Change -5.49% -176.79%
Cash From Operating Activities $802.0M $686.0M
YoY Change 16.91% -49.85%
INVESTING ACTIVITIES
Capital Expenditures -$185.0M -$242.0M
YoY Change -23.55% -556.6%
Acquisitions
YoY Change
Other Investing Activities -$410.0M -$625.0M
YoY Change -34.4% -76.58%
Cash From Investing Activities -$595.0M -$867.0M
YoY Change -31.37% -66.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -503.0M -2.354B
YoY Change -78.63% -203.2%
NET CHANGE
Cash From Operating Activities 802.0M 686.0M
Cash From Investing Activities -595.0M -867.0M
Cash From Financing Activities -503.0M -2.354B
Net Change In Cash -296.0M -2.535B
YoY Change -88.32% -345.4%
FREE CASH FLOW
Cash From Operating Activities $802.0M $686.0M
Capital Expenditures -$185.0M -$242.0M
Free Cash Flow $987.0M $928.0M
YoY Change 6.36% -29.43%

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533000000 USD
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115000000 USD
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310000000 USD
us-gaap Income Taxes Paid
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240000000 USD
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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13000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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10000000 shares
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
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P4Y4M17D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y1M5D
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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;text-align:justify;padding-left:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of condensed consolidated financial statements in conformity with U.S.&#160;generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction losses, legal contingencies, income taxes, revenue recognition, stock-based compensation, goodwill and the recoverability of intangible assets. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ from those estimates.</font></div></div>

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