2017 Q4 Form 10-K Financial Statement

#000082705219000034 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $3.220B $3.672B $2.965B
YoY Change 11.65% -2.52% 6.77%
Cost Of Revenue $1.131B $1.783B $1.175B
YoY Change 18.93% 3.72% 10.43%
Gross Profit $2.089B $1.889B $1.790B
YoY Change 8.07% -7.76% 4.5%
Gross Profit Margin 64.88% 51.44% 60.37%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $524.0M $543.0M $528.0M
YoY Change 0.19% -1.27% 0.38%
% of Gross Profit 25.08% 28.75% 29.5%
Operating Expenses $1.411B $1.336B $1.304B
YoY Change 3.29% -1.26% -0.53%
Operating Profit -$38.00M $553.0M $470.0M
YoY Change -106.71% -20.43% 23.36%
Interest Expense -$164.0M $162.0M $159.0M
YoY Change 9.33% 10.2% 10.42%
% of Operating Profit 29.29% 33.83%
Other Income/Expense, Net $32.00M $41.00M $24.00M
YoY Change 190.91% 78.26% 9.09%
Pretax Income -$170.0M $432.0M $335.0M
YoY Change -139.72% -24.34% 29.34%
Income Tax -$102.0M -$69.00M $26.00M
% Of Pretax Income -15.97% 7.76%
Net Earnings -$515.0M $470.0M $278.0M
YoY Change -236.6% 11.64% -0.71%
Net Earnings / Revenue -15.99% 12.8% 9.38%
Basic Earnings Per Share -$1.67 $1.44 $0.85
Diluted Earnings Per Share -$1.66 $1.43 $0.85
COMMON SHARES
Basic Shares Outstanding 325.8M shares 326.0M shares 326.0M shares
Diluted Shares Outstanding 328.0M shares 329.0M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.091B $117.0M $98.00M
YoY Change 1036.46% 39.29% -11.71%
Cash & Equivalents $1.091B $117.0M $98.00M
Short-Term Investments
Other Short-Term Assets $202.0M $295.0M $289.0M
YoY Change 14.12% 13.03% 35.05%
Inventory $242.0M $229.0M $235.0M
Prepaid Expenses $233.0M
Receivables $717.0M $1.105B $833.0M
Other Receivables $224.0M $0.00 $0.00
Total Short-Term Assets $3.729B $2.758B $2.546B
YoY Change 75.65% 5.87% -4.25%
LONG-TERM ASSETS
Property, Plant & Equipment $39.05B $37.96B $37.51B
YoY Change 5.54% 4.77% 4.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.513B $4.487B $4.468B
YoY Change 4.35% 0.79% -1.74%
Other Assets $374.0M $358.0M $377.0M
YoY Change -10.1% 0.0% 6.8%
Total Long-Term Assets $48.85B $50.83B $50.21B
YoY Change -0.7% 3.84% 3.44%
TOTAL ASSETS
Total Short-Term Assets $3.729B $2.758B $2.546B
Total Long-Term Assets $48.85B $50.83B $50.21B
Total Assets $52.58B $53.59B $52.75B
YoY Change 2.46% 3.95% 3.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.503B $1.104B $1.113B
YoY Change 12.0% -6.44% -4.55%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.393B $908.0M $566.0M
YoY Change 83.09% 19.95% -29.25%
Long-Term Debt Due $481.0M $583.0M $581.0M
YoY Change -50.97% -33.83% -16.52%
Total Short-Term Liabilities $7.068B $5.409B $4.602B
YoY Change 19.55% 1.25% -10.62%
LONG-TERM LIABILITIES
Long-Term Debt $11.64B $11.64B $11.66B
YoY Change 14.42% 11.83% 7.53%
Other Long-Term Liabilities $2.953B $2.863B $2.143B
YoY Change 40.49% 32.06% 2.98%
Total Long-Term Liabilities $14.60B $14.50B $13.81B
YoY Change 18.88% 15.32% 6.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.068B $5.409B $4.602B
Total Long-Term Liabilities $14.60B $14.50B $13.81B
Total Liabilities $38.70B $38.97B $37.94B
YoY Change 4.22% 3.77% 1.31%
SHAREHOLDERS EQUITY
Retained Earnings $9.188B $9.944B $9.679B
YoY Change -3.73% 6.22% 6.23%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.86B $14.61B $14.80B
YoY Change
Total Liabilities & Shareholders Equity $52.58B $53.59B $52.75B
YoY Change 2.46% 3.95% 3.04%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income -$515.0M $470.0M $278.0M
YoY Change -236.6% 11.64% -0.71%
Depreciation, Depletion And Amortization $524.0M $543.0M $528.0M
YoY Change 0.19% -1.27% 0.38%
Cash From Operating Activities $899.0M $1.260B $554.0M
YoY Change 19.23% 17.76% -3.99%
INVESTING ACTIVITIES
Capital Expenditures -$1.170B -$915.0M -$815.0M
YoY Change 21.75% -3.17% -7.07%
Acquisitions
YoY Change
Other Investing Activities $87.00M $74.00M $94.00M
YoY Change 295.45% -50.34% 213.33%
Cash From Investing Activities -$1.083B -$841.0M -$721.0M
YoY Change 15.34% 5.65% -14.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.183B -399.0M 111.0M
YoY Change 500.51% 32.56% -54.51%
NET CHANGE
Cash From Operating Activities 899.0M 1.260B 554.0M
Cash From Investing Activities -1.083B -841.0M -721.0M
Cash From Financing Activities 1.183B -399.0M 111.0M
Net Change In Cash 999.0M 20.00M -56.00M
YoY Change 8225.0% -174.07% 115.38%
FREE CASH FLOW
Cash From Operating Activities $899.0M $1.260B $554.0M
Capital Expenditures -$1.170B -$915.0M -$815.0M
Free Cash Flow $2.069B $2.175B $1.369B
YoY Change 20.64% 7.94% -5.85%

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212000000 USD
CY2018Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
482000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
529000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
471000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
432000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
338000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
96000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
7000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
108000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
83000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
27000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
36000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
51000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
41000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
347000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
308000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
197000000 USD
CY2016 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
2898000000 USD
CY2017 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
2844000000 USD
CY2018 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
2797000000 USD
CY2015Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
61700000 USD
CY2016Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
61800000 USD
CY2017Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
53900000 USD
CY2018Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
51500000 USD
CY2016 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
33600000 USD
CY2017 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
26400000 USD
CY2018 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
35200000 USD
CY2016 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2017 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2018 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
0 USD
CY2016 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
33500000 USD
CY2017 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
34300000 USD
CY2018 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
37600000 USD
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
330000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
328000000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
326000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
326000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
326000000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
326000000 shares
CY2018 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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