2013 Form 10-K Financial Statement

#000119312514061037 Filed on February 21, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012
Revenue $12.35B $2.901B $12.19B
YoY Change 1.36% -0.48% -5.42%
Cost Of Revenue $3.734B $823.0M $3.577B
YoY Change 4.39% -15.5% -22.05%
Gross Profit $8.620B $2.078B $8.611B
YoY Change 0.1% 7.06% 3.78%
Gross Profit Margin 69.77% 71.63% 70.65%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $18.00M $21.00M
YoY Change -14.29% -8.7%
% of Gross Profit 0.21% 0.24%
Depreciation & Amortization $1.024B $246.0M $955.0M
YoY Change 7.23% 9.33% 8.03%
% of Gross Profit 11.88% 11.84% 11.09%
Operating Expenses $10.11B $1.625B $9.849B
YoY Change 2.65% 9.65% -7.5%
Operating Profit $2.244B $453.0M $2.339B
YoY Change -4.06% -1.31% 4.47%
Interest Expense $719.0M -$141.0M $604.0M
YoY Change 19.04% 0.0% 1.68%
% of Operating Profit 32.04% -31.13% 25.82%
Other Income/Expense, Net $13.00M -$5.000M $6.000M
YoY Change 116.67% 400.0% -64.71%
Pretax Income $1.538B $307.0M $1.741B
YoY Change -11.66% -3.15% 4.75%
Income Tax $476.0M $100.0M $600.0M
% Of Pretax Income 30.95% 32.57% 34.46%
Net Earnings $1.062B $207.0M $1.141B
YoY Change -6.92% 7.25% 7.44%
Net Earnings / Revenue 8.6% 7.14% 9.36%
Basic Earnings Per Share $3.62 $3.88
Diluted Earnings Per Share $3.61 $702.9K $3.86
COMMON SHARES
Basic Shares Outstanding 292.9M shares 292.9M shares 292.9M shares
Diluted Shares Outstanding 294.4M shares 294.5M shares

Balance Sheet

Concept 2013 2012 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.001B $464.0M $464.0M
YoY Change 115.73% -28.4% -28.4%
Cash & Equivalents $674.0M $394.0M $394.0M
Short-Term Investments $327.0M $70.00M $70.00M
Other Short-Term Assets $1.036B $162.0M $1.207B
YoY Change -14.17% 1.89% -0.08%
Inventory $363.0M $330.0M $330.0M
Prepaid Expenses $159.0M
Receivables $1.251B $1.222B $1.222B
Other Receivables $240.0M $228.0M $228.0M
Total Short-Term Assets $3.891B $3.451B $3.451B
YoY Change 12.75% -5.14% -5.14%
LONG-TERM ASSETS
Property, Plant & Equipment $28.44B $26.94B $26.94B
YoY Change 5.56% 7.36% 7.36%
Goodwill $429.0M
YoY Change 0.0%
Intangibles $2.000M
YoY Change -33.33%
Long-Term Investments $461.0M $467.0M $467.0M
YoY Change -1.28% 2.64% 2.64%
Other Assets $7.426B $216.0M $9.921B
YoY Change -25.15% 30.91% 3.39%
Total Long-Term Assets $36.76B $37.76B $37.76B
YoY Change -2.65% 6.13% 6.13%
TOTAL ASSETS
Total Short-Term Assets $3.891B $3.451B $3.451B
Total Long-Term Assets $36.76B $37.76B $37.76B
Total Assets $40.65B $41.21B $41.21B
YoY Change -1.36% 5.09% 5.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.017B $1.215B $1.215B
YoY Change -16.3% 27.23% 27.23%
Accrued Expenses $341.0M $247.0M $247.0M
YoY Change 38.06% -1.59% -1.59%
Deferred Revenue
YoY Change
Short-Term Debt $1.451B $539.0M $539.0M
YoY Change 169.2%
Long-Term Debt Due $485.0M $706.0M $706.0M
YoY Change -31.3% 33.21% 33.21%
Total Short-Term Liabilities $4.730B $3.945B $3.945B
YoY Change 19.9% 32.07% 32.07%
LONG-TERM LIABILITIES
Long-Term Debt $10.49B $10.06B $10.06B
YoY Change 4.23% -0.8% -0.8%
Other Long-Term Liabilities $4.716B $125.0M $6.959B
YoY Change -32.23% -4.58% 1.3%
Total Long-Term Liabilities $15.21B $15.33B $17.02B
YoY Change -10.67% 162.96% 0.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.730B $3.945B $3.945B
Total Long-Term Liabilities $15.21B $15.33B $17.02B
Total Liabilities $28.40B $19.28B $29.34B
YoY Change -3.2% 118.62% 6.44%
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 $12.25B $11.87B $11.87B
YoY Change
Total Liabilities & Shareholders Equity $40.65B $41.21B $41.21B
YoY Change -1.36% 5.09% 5.09%

Cashflow Statement

Concept 2013 2012 Q4 2012
OPERATING ACTIVITIES
Net Income $1.062B $207.0M $1.141B
YoY Change -6.92% 7.25% 7.44%
Depreciation, Depletion And Amortization $1.024B $246.0M $955.0M
YoY Change 7.23% 9.33% 8.03%
Cash From Operating Activities $2.552B $961.0M $2.599B
YoY Change -1.81% -1.54% -17.15%
INVESTING ACTIVITIES
Capital Expenditures $199.0M -$888.0M $152.0M
YoY Change 30.92% 79.39% 90.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $232.0M -$30.00M
YoY Change -100.0% -627.27% 650.0%
Cash From Investing Activities -$2.659B -$656.0M -$2.523B
YoY Change 5.39% 21.71% 17.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $8.000M $18.00M
YoY Change -55.56% -129.03%
Debt Paid & Issued, Net $709.0M $305.0M
YoY Change 132.46% 7525.0%
Cash From Financing Activities 387.0M 20.00M -330.0M
YoY Change -217.27% -110.7% -51.26%
NET CHANGE
Cash From Operating Activities 2.552B 961.0M 2.599B
Cash From Investing Activities -2.659B -656.0M -2.523B
Cash From Financing Activities 387.0M 20.00M -330.0M
Net Change In Cash 280.0M 325.0M -254.0M
YoY Change -210.24% 30.0% -181.94%
FREE CASH FLOW
Cash From Operating Activities $2.552B $961.0M $2.599B
Capital Expenditures $199.0M -$888.0M $152.0M
Free Cash Flow $2.353B $1.849B $2.447B
YoY Change -3.84% 25.7% -19.95%

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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 13px"><font style="FONT-FAMILY: ARIAL" color="#5E5E61" size="2"><b>Estimates</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-FAMILY: ARIAL" color="#5E5E61" size="2">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p> </div>
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