2015 Q4 Form 10-K Financial Statement

#000082705217000033 Filed on February 21, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $2.341B $3.763B $2.908B
YoY Change -24.82% -13.61% -3.58%
Cost Of Revenue $618.0M $1.785B $1.078B
YoY Change -50.52% -15.2% -7.71%
Gross Profit $1.723B $1.978B $1.830B
YoY Change -7.66% -12.13% -0.97%
Gross Profit Margin 73.6% 52.56% 62.93%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $490.0M $528.0M $502.0M
YoY Change -13.58% 37.5% 16.2%
% of Gross Profit 28.44% 26.69% 27.43%
Operating Expenses $1.380B $1.370B $1.306B
YoY Change 10.93% -0.72% 2.59%
Operating Profit $340.0M $608.0M $524.0M
YoY Change -50.94% -30.43% -8.87%
Interest Expense -$135.0M $138.0M $138.0M
YoY Change -2.17% -2.13% -0.72%
% of Operating Profit -39.71% 22.7% 26.34%
Other Income/Expense, Net $41.00M $17.00M $26.00M
YoY Change 310.0% 54.55% -13.33%
Pretax Income $244.0M $487.0M $412.0M
YoY Change -56.81% -34.54% -11.59%
Income Tax $291.0M $82.00M $6.000M
% Of Pretax Income 119.26% 16.84% 1.46%
Net Earnings -$50.00M $421.0M $379.0M
YoY Change -111.9% -12.29% -29.29%
Net Earnings / Revenue -2.14% 11.19% 13.03%
Basic Earnings Per Share -$0.24 $1.29 $1.16
Diluted Earnings Per Share -$0.24 $1.28 $1.15
COMMON SHARES
Basic Shares Outstanding 325.8M shares 326.0M shares 326.0M shares
Diluted Shares Outstanding 328.0M shares 328.0M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $161.0M $134.0M $139.0M
YoY Change 21.97% -5.63% -26.84%
Cash & Equivalents $161.0M $134.0M $139.0M
Short-Term Investments
Other Short-Term Assets $251.0M $446.0M $437.0M
YoY Change -33.24% -4.5% 0.92%
Inventory $267.0M $270.0M $276.0M
Prepaid Expenses
Receivables $771.0M $1.211B $768.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.654B $3.792B $3.906B
YoY Change -25.6% -15.7% -14.17%
LONG-TERM ASSETS
Property, Plant & Equipment $35.09B $34.20B $33.73B
YoY Change 6.38% 6.81% 7.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.534B $4.596B $5.046B
YoY Change -9.43% -7.06% 2.1%
Other Assets $360.0M $371.0M $358.0M
YoY Change 3.15% -15.1% -19.55%
Total Long-Term Assets $47.58B $47.48B $47.33B
YoY Change 3.05% 5.56% 6.82%
TOTAL ASSETS
Total Short-Term Assets $2.654B $3.792B $3.906B
Total Long-Term Assets $47.58B $47.48B $47.33B
Total Assets $50.23B $51.27B $51.24B
YoY Change 1.0% 3.63% 4.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.310B $1.330B $1.294B
YoY Change -17.09% -8.59% -0.92%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $695.0M $1.154B $1.415B
YoY Change -46.17% -14.46% 12.93%
Long-Term Debt Due $295.0M $295.0M $204.0M
YoY Change -41.47% -58.1% -77.33%
Total Short-Term Liabilities $4.927B $5.239B $4.836B
YoY Change -10.07% -10.43% -16.23%
LONG-TERM LIABILITIES
Long-Term Debt $10.88B $10.96B $11.27B
YoY Change 6.34% 8.13% 13.49%
Other Long-Term Liabilities $2.246B $2.316B $2.220B
YoY Change -0.4% 4.09% -11.97%
Total Long-Term Liabilities $13.13B $13.27B $13.49B
YoY Change 5.12% 7.4% 8.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.927B $5.239B $4.836B
Total Long-Term Liabilities $13.13B $13.27B $13.49B
Total Liabilities $36.84B $37.64B $37.89B
YoY Change 0.24% 2.51% 3.92%
SHAREHOLDERS EQUITY
Retained Earnings $8.940B $9.180B $8.909B
YoY Change 4.28% 10.42% 11.92%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.39B $13.62B $13.35B
YoY Change
Total Liabilities & Shareholders Equity $50.23B $51.27B $51.24B
YoY Change 1.0% 3.63% 4.86%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income -$50.00M $421.0M $379.0M
YoY Change -111.9% -12.29% -29.29%
Depreciation, Depletion And Amortization $490.0M $528.0M $502.0M
YoY Change -13.58% 37.5% 16.2%
Cash From Operating Activities $1.676B $1.065B $804.0M
YoY Change 37.26% -24.95% 1769.77%
INVESTING ACTIVITIES
Capital Expenditures -$1.091B -$937.0M -$929.0M
YoY Change 3.9% -6.3% 1.42%
Acquisitions
YoY Change
Other Investing Activities $56.00M $314.0M -$11.00M
YoY Change -29.11% -7950.0% -142.31%
Cash From Investing Activities -$1.035B -$623.0M -$940.0M
YoY Change 6.59% -37.95% 5.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -614.0M -447.0M 160.0M
YoY Change 136.15% -3.46% -81.98%
NET CHANGE
Cash From Operating Activities 1.676B 1.065B 804.0M
Cash From Investing Activities -1.035B -623.0M -940.0M
Cash From Financing Activities -614.0M -447.0M 160.0M
Net Change In Cash 27.00M -5.000M 24.00M
YoY Change -370.0% -89.58% -41.46%
FREE CASH FLOW
Cash From Operating Activities $1.676B $1.065B $804.0M
Capital Expenditures -$1.091B -$937.0M -$929.0M
Free Cash Flow $2.767B $2.002B $1.733B
YoY Change 21.84% -17.24% 80.71%

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CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2014 us-gaap Notes Issued1
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220000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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32000000 shares
CY2015Q1 us-gaap Share Price
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62.47
CY2015Q2 us-gaap Share Price
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55.58
CY2015Q3 us-gaap Share Price
SharePrice
63.07
CY2015Q4 us-gaap Share Price
SharePrice
59.21
CY2016Q1 us-gaap Share Price
SharePrice
71.89
CY2016Q2 us-gaap Share Price
SharePrice
77.67
CY2016Q3 us-gaap Share Price
SharePrice
72.25
CY2016Q4 us-gaap Share Price
SharePrice
71.99
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
695000000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1307000000 USD
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
269000000 USD
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
319000000 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
294000000 USD
CY2015 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
325000000 USD
CY2016 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
125000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11691000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12982000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13388000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14187000000 USD
CY2016Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
499000000 USD
CY2015Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
72000000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
50000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
815000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
576000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
529000000 USD
CY2015 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
52400000 USD
CY2016 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
33500000 USD
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3000000 shares
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
471000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
143000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
165000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
96000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
162000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
2000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
65000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
54000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
36000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
66000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
440000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
347000000 USD
CY2016 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-8000000 USD
CY2013Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
70000000 USD
CY2014Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
72200000 USD
CY2015Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
61700000 USD
CY2016Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
61800000 USD
CY2014 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
43800000 USD
CY2015 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
41900000 USD
CY2016 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
33600000 USD
CY2014 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2015 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2016 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2014 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
41600000 USD
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3000000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
329000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
329000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
330000000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
326000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
326000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
326000000 shares
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with United States generally accepted accounting principles ("GAAP") 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 financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates.</font></div></div>

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