2017 Q4 Form 10-Q Financial Statement

#000104786217000176 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $2.961B $3.211B $3.417B
YoY Change 9.38% -6.03% -0.76%
Cost Of Revenue $572.0M $575.0M $879.0M
YoY Change 4.19% -34.58% -4.87%
Gross Profit $2.389B $2.636B $2.538B
YoY Change 10.7% 3.86% 0.75%
Gross Profit Margin 80.68% 82.09% 74.28%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $343.0M $336.0M $306.0M
YoY Change 10.29% 9.8% 7.37%
% of Gross Profit 14.36% 12.75% 12.06%
Operating Expenses $1.804B $2.297B $2.581B
YoY Change 22.31% -11.0% -1.22%
Operating Profit $585.0M $914.0M $940.0M
YoY Change -14.35% -2.77% 13.25%
Interest Expense -$163.0M -$144.0M -$122.0M
YoY Change -2.4% 18.03% -15.28%
% of Operating Profit -27.86% -15.75% -12.98%
Other Income/Expense, Net -$44.00M -$2.000M $49.00M
YoY Change -79.44% -104.08% 444.44%
Pretax Income $378.0M $727.0M $811.0M
YoY Change 25.17% -10.36% 19.79%
Income Tax $132.0M $270.0M $314.0M
% Of Pretax Income 34.92% 37.14% 38.72%
Net Earnings $505.0M $457.0M $497.0M
YoY Change 145.15% -8.05% 16.12%
Net Earnings / Revenue 17.06% 14.23% 14.54%
Basic Earnings Per Share $1.48 $1.63
Diluted Earnings Per Share $1.618M $1.48 $1.62
COMMON SHARES
Basic Shares Outstanding 310.1M shares 307.8M shares 304.5M shares
Diluted Shares Outstanding 309.3M shares 305.9M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $797.0M $69.00M $153.0M
YoY Change 2.71% -54.9% 62.77%
Cash & Equivalents $797.0M $69.00M $150.0M
Short-Term Investments $3.000M
Other Short-Term Assets $177.0M $199.0M $206.0M
YoY Change 17.22% -3.4% 15.73%
Inventory $334.0M $337.0M $335.0M
Prepaid Expenses $178.0M $592.0M $580.0M
Receivables $1.103B $1.111B $1.157B
Other Receivables $224.0M $227.0M $231.0M
Total Short-Term Assets $3.537B $3.096B $3.154B
YoY Change 3.85% -1.84% -10.01%
LONG-TERM ASSETS
Property, Plant & Equipment $37.60B $36.73B $33.91B
YoY Change 6.77% 8.32% 7.73%
Goodwill $428.0M $428.0M $429.0M
YoY Change 0.0% -0.23% 0.0%
Intangibles $131.0M $114.0M $0.00
YoY Change 5.65% -100.0%
Long-Term Investments $467.0M $1.977B $1.931B
YoY Change -4.3% 2.38% 120.94%
Other Assets $4.973B $7.445B $8.325B
YoY Change -35.52% -10.57% -8.71%
Total Long-Term Assets $44.57B $46.15B $44.16B
YoY Change -0.61% 4.5% 6.5%
TOTAL ASSETS
Total Short-Term Assets $3.537B $3.096B $3.154B
Total Long-Term Assets $44.57B $46.15B $44.16B
Total Assets $48.11B $49.25B $47.32B
YoY Change -0.3% 4.08% 5.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.286B $1.057B $1.113B
YoY Change 12.12% -5.03% 1.92%
Accrued Expenses $248.0M $314.0M $303.0M
YoY Change -1.2% 3.63% 9.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $356.0M $601.0M
YoY Change -100.0% -40.77% -48.19%
Long-Term Debt Due $1.298B $687.0M $346.0M
YoY Change 3228.21% 98.55% -54.53%
Total Short-Term Liabilities $4.902B $3.915B $3.591B
YoY Change 27.56% 9.02% -18.92%
LONG-TERM LIABILITIES
Long-Term Debt $14.73B $14.65B $13.75B
YoY Change -0.03% 6.58% 19.32%
Other Long-Term Liabilities $7.558B $4.826B $5.548B
YoY Change 46.3% -13.01% -12.96%
Total Long-Term Liabilities $13.05B $15.57B $15.70B
YoY Change -15.08% -0.85% -1.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.902B $3.915B $3.591B
Total Long-Term Liabilities $13.05B $15.57B $15.70B
Total Liabilities $17.96B $19.49B $19.29B
YoY Change -6.55% 0.99% -5.43%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.42B $15.10B $14.27B
YoY Change
Total Liabilities & Shareholders Equity $48.11B $49.25B $47.32B
YoY Change -0.3% 4.08% 5.21%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $505.0M $457.0M $497.0M
YoY Change 145.15% -8.05% 16.12%
Depreciation, Depletion And Amortization $343.0M $336.0M $306.0M
YoY Change 10.29% 9.8% 7.37%
Cash From Operating Activities $1.140B $653.0M $705.0M
YoY Change 1.15% -7.38% -1.12%
INVESTING ACTIVITIES
Capital Expenditures -$1.067B -$800.0M -$849.0M
YoY Change -22.4% -5.77% -4.18%
Acquisitions
YoY Change
Other Investing Activities -$58.00M -$54.00M $118.0M
YoY Change -140.85% -145.76% -255.26%
Cash From Investing Activities -$1.125B -$854.0M -$731.0M
YoY Change -8.76% 16.83% -24.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $343.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 719.0M -531.0M -690.0M
YoY Change -5.64% -23.04% 88.01%
NET CHANGE
Cash From Operating Activities 1.140B 653.0M 705.0M
Cash From Investing Activities -1.125B -854.0M -731.0M
Cash From Financing Activities 719.0M -531.0M -690.0M
Net Change In Cash 734.0M -732.0M -716.0M
YoY Change 11.89% 2.23% 16.23%
FREE CASH FLOW
Cash From Operating Activities $1.140B $653.0M $705.0M
Capital Expenditures -$1.067B -$800.0M -$849.0M
Free Cash Flow $2.207B $1.453B $1.554B
YoY Change -11.79% -6.5% -2.81%

Facts In Submission

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us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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CY2017Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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7000000 USD
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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8000000 USD
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Purchases
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2000000 USD
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Purchases
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1000000 USD
CY2016Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Sales
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4000000 USD
CY2017Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Sales
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0 USD
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Sales
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CY2016Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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CY2017Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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CY2015Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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CY2016Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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CY2016Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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CY2016Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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CY2017Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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CY2017Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2017Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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us-gaap Fuel Costs
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us-gaap Fuel Costs
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us-gaap Gain Loss On Sale Of Derivatives
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2370000000 USD
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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727000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2016Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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270000000 USD
us-gaap Income Tax Expense Benefit
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138000000 USD
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18000000 USD
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us-gaap Increase Decrease In Income Taxes Receivable
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85000000 USD
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39000000 USD
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464000000 USD
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us-gaap Increase Decrease In Prepaid Expense
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433000000 USD
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21000000 USD
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us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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us-gaap Insurance Recoveries
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Payments For Construction In Process
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Pension And Other Postretirement Benefit Contributions
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us-gaap Pension And Other Postretirement Benefit Contributions
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us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
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us-gaap Proceeds From Issuance Initial Public Offering
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us-gaap Proceeds From Issuance Initial Public Offering
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Long Term Debt
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250000000 USD
us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
5000000 USD
CY2016Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
3000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
7000000 USD
CY2017Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
3000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
8000000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
8541000000 USD
CY2017Q3 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
8904000000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Common
PublicUtilitiesPropertyPlantAndEquipmentCommon
2719000000 USD
CY2017Q3 us-gaap Public Utilities Property Plant And Equipment Common
PublicUtilitiesPropertyPlantAndEquipmentCommon
2891000000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
1175000000 USD
CY2017Q3 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
1415000000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
33045000000 USD
CY2017Q3 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
34427000000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
40411000000 USD
CY2017Q3 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
41916000000 USD
CY2016Q4 us-gaap Regulatory Assets
RegulatoryAssets
7124000000 USD
CY2017Q3 us-gaap Regulatory Assets
RegulatoryAssets
6878000000 USD
CY2016Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
100000000 USD
CY2017Q3 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
109000000 USD
CY2016Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
7024000000 USD
CY2017Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
6769000000 USD
CY2016Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
2033000000 USD
CY2017Q3 us-gaap Regulatory Liabilities
RegulatoryLiabilities
1931000000 USD
CY2016Q4 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
128000000 USD
CY2017Q3 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
58000000 USD
CY2016Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
1905000000 USD
CY2017Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
1873000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
407000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
429000000 USD
CY2016Q4 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
54000000 USD
CY2017Q3 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
41000000 USD
CY2016Q3 us-gaap Revenue Steam Products And Services
RevenueSteamProductsAndServices
63000000 USD
us-gaap Revenue Steam Products And Services
RevenueSteamProductsAndServices
406000000 USD
CY2017Q3 us-gaap Revenue Steam Products And Services
RevenueSteamProductsAndServices
62000000 USD
us-gaap Revenue Steam Products And Services
RevenueSteamProductsAndServices
448000000 USD
CY2016Q3 us-gaap Revenues
Revenues
3417000000 USD
us-gaap Revenues
Revenues
9368000000 USD
CY2017Q3 us-gaap Revenues
Revenues
3211000000 USD
us-gaap Revenues
Revenues
9072000000 USD
CY2017Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
4100000 shares
CY2016Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
702000000 USD
CY2017Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
343000000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
28000000 USD
CY2016Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
26000000 USD
CY2016Q3 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
23000000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
24000000 USD
CY2017Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
26000000 USD
CY2017Q3 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
25000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
14298000000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
15102000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13061000000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13201000000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13958000000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14275000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14306000000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14506000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14498000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15110000000 USD
CY2016Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
528000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
1523000000 USD
CY2017Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
544000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
1597000000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
64000000 USD
CY2017Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
43000000 USD
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
134000000 USD
CY2017Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
137000000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
41000000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0 USD
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
25000000 USD
CY2016Q3 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
840000000 USD
us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
2447000000 USD
CY2017Q3 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
852000000 USD
us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
2406000000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
305900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
300500000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
309300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
307700000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
304500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
299100000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
307800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
306200000 shares

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