2019 Q1 Form 10-Q Financial Statement

#000159200019000011 Filed on May 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2017 Q4
Revenue $1.779B $1.762B $1.756B
YoY Change 0.99% 33.27% 43.37%
Cost Of Revenue $1.363B $1.326B $1.374B
YoY Change 2.85% 32.26% 51.16%
Gross Profit $301.3M $325.7M $382.6M
YoY Change -7.49% 51.14% 21.0%
Gross Profit Margin 16.93% 18.49% 21.79%
Selling, General & Admin $51.40M $27.50M $30.10M
YoY Change 86.91% -23.82% 8.27%
% of Gross Profit 17.06% 8.44% 7.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $152.1M $138.1M $138.2M
YoY Change 10.14% 7.64% 5.58%
% of Gross Profit 50.48% 42.4% 36.12%
Operating Expenses $51.40M $27.50M $278.2M
YoY Change 86.91% -89.76% 6.63%
Operating Profit -$88.70M $105.3M $96.90M
YoY Change -184.24% 86.37% 147.19%
Interest Expense -$43.60M -$41.40M -$43.40M
YoY Change 5.31% -5.69% -37.82%
% of Operating Profit -39.32% -44.79%
Other Income/Expense, Net -$44.30M -$41.20M -$100.0K
YoY Change 7.52% -6.79%
Pretax Income -$133.0M $64.10M $53.40M
YoY Change -307.49% 421.14% -274.51%
Income Tax $1.800M $7.000M $4.500M
% Of Pretax Income 10.92% 8.43%
Net Earnings -$176.3M $12.40M $202.6M
YoY Change -1521.77% -752.63% -5294.87%
Net Earnings / Revenue -9.91% 0.7% 11.54%
Basic Earnings Per Share -$0.45 $0.07 $1.12
Diluted Earnings Per Share -$0.45 $0.07 $1.11
COMMON SHARES
Basic Shares Outstanding 392.0M shares 180.9M shares 180.6M shares
Diluted Shares Outstanding 392.0M shares 181.8M shares

Balance Sheet

Concept 2019 Q1 2018 Q1 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.000M $17.00M $31.00M
YoY Change -94.12% 13.33% -84.88%
Cash & Equivalents $700.0K $17.20M $31.20M
Short-Term Investments $0.00
Other Short-Term Assets $73.40M $33.60M $41.20M
YoY Change 118.45% 1580.0% 22.99%
Inventory $39.40M $22.00M $30.10M
Prepaid Expenses
Receivables $104.2M $78.30M $50.10M
Other Receivables $1.000M $115.0M $103.0M
Total Short-Term Assets $821.6M $846.9M $808.7M
YoY Change -2.99% 51.91% 4.58%
LONG-TERM ASSETS
Property, Plant & Equipment $6.975B $6.659B $6.587B
YoY Change 4.75% 4.11% 5.28%
Goodwill $1.124B $1.542B $1.542B
YoY Change -27.14% 0.0% 0.0%
Intangibles $1.343B $1.466B $1.497B
YoY Change -8.43% -8.05% -7.83%
Long-Term Investments $82.90M $86.40M $89.40M
YoY Change -4.05% 2.25% 15.65%
Other Assets $155.9M $14.20M $13.40M
YoY Change 997.89% 545.45% 509.09%
Total Long-Term Assets $9.685B $9.768B $9.729B
YoY Change -0.85% 1.54% 2.38%
TOTAL ASSETS
Total Short-Term Assets $821.6M $846.9M $808.7M
Total Long-Term Assets $9.685B $9.768B $9.729B
Total Assets $10.51B $10.62B $10.54B
YoY Change -1.02% 4.3% 2.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $103.4M $86.20M $66.90M
YoY Change 19.95% 21.58% -3.32%
Accrued Expenses $230.6M $221.8M $222.9M
YoY Change 3.97% 3.5% 2.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $76.30M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $835.8M $903.5M $1.040B
YoY Change -7.49% 7.96% 17.19%
LONG-TERM LIABILITIES
Long-Term Debt $4.476B $3.839B $3.542B
YoY Change 16.59% 9.02% 7.49%
Other Long-Term Liabilities $89.50M $29.30M $33.90M
YoY Change 205.46% -30.4% -20.24%
Total Long-Term Liabilities $4.565B $3.868B $3.576B
YoY Change 18.02% 8.56% 7.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $835.8M $903.5M $1.040B
Total Long-Term Liabilities $4.565B $3.868B $3.576B
Total Liabilities $5.401B $4.772B $4.616B
YoY Change 13.19% 8.44% 9.25%
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 $3.469B $1.887B $1.922B
YoY Change
Total Liabilities & Shareholders Equity $10.51B $10.62B $10.54B
YoY Change -1.02% 4.3% 2.55%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2017 Q4
OPERATING ACTIVITIES
Net Income -$176.3M $12.40M $202.6M
YoY Change -1521.77% -752.63% -5294.87%
Depreciation, Depletion And Amortization $152.1M $138.1M $138.2M
YoY Change 10.14% 7.64% 5.58%
Cash From Operating Activities $264.0M $193.7M $171.7M
YoY Change 36.29% 9.07% 11.57%
INVESTING ACTIVITIES
Capital Expenditures $241.5M $181.5M -$128.3M
YoY Change 33.06% -29.18% -46.39%
Acquisitions
YoY Change
Other Investing Activities -$500.0K -$2.200M -$7.200M
YoY Change -77.27% 340.0% -111.5%
Cash From Investing Activities -$241.0M -$179.3M -$135.5M
YoY Change 34.41% 158.73% -23.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $581.4M $428.6M
YoY Change 35.65% -27.02%
Cash From Financing Activities -$122.7M -$28.40M -146.9M
YoY Change 332.04% -72.95% 473.83%
NET CHANGE
Cash From Operating Activities $264.0M $193.7M 171.7M
Cash From Investing Activities -$241.0M -$179.3M -135.5M
Cash From Financing Activities -$122.7M -$28.40M -146.9M
Net Change In Cash -$99.70M -$14.00M -110.7M
YoY Change 612.14% -524.24% 128.72%
FREE CASH FLOW
Cash From Operating Activities $264.0M $193.7M $171.7M
Capital Expenditures $241.5M $181.5M -$128.3M
Free Cash Flow $22.50M $12.20M $300.0M
YoY Change 84.43% -115.5% -23.7%

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CY2018Q1 us-gaap Depreciation And Amortization
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138100000 USD
CY2019Q1 us-gaap Depreciation And Amortization
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CY2019Q1 us-gaap Derivative Assets Current
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CY2019Q1 us-gaap Derivative Assets Noncurrent
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4600000 USD
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CY2019Q1 us-gaap Derivative Liabilities Current
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6600000 USD
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CY2019Q1 us-gaap Derivative Liabilities Noncurrent
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CY2018Q1 us-gaap Distributed Earnings
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CY2019Q1 us-gaap Distributed Earnings
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CY2018Q1 us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Paid
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47500000 USD
CY2019Q1 us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Paid
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51000000 USD
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CY2018Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
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CY2019Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
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CY2019Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
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CY2018Q2 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
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CY2019Q1 us-gaap Dividends Cash
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16900000 USD
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700000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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2500000 USD
CY2018Q1 us-gaap Equity Method Investment Dividends Or Distributions
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4600000 USD
CY2019Q1 us-gaap Equity Method Investment Dividends Or Distributions
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2200000 USD
CY2018Q4 us-gaap Equity Method Investments
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CY2019Q1 us-gaap Equity Method Investments
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82900000 USD
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CY2019Q1 us-gaap Finance Lease Liability
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800000 USD
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800000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due
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800000 USD
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CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Five
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CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Four
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CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Three
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CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Two
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800000 USD
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CY2019Q1 us-gaap Finance Lease Principal Payments
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400000 USD
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4500000 USD
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700000 USD
CY2019Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
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P0Y6M
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CY2019Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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453100000 USD
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92800000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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123700000 USD
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123700000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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123700000 USD
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CY2018Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
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500000 USD
CY2019Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
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1800000 USD
CY2018Q1 us-gaap Gain Loss On Disposition Of Assets
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CY2019Q1 us-gaap Gain Loss On Disposition Of Assets
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CY2019Q1 us-gaap Gain Loss On Sale Of Derivatives
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CY2019Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2019Q1 us-gaap Income Tax Expense Benefit
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4100000 USD
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CY2018Q4 us-gaap Goodwill
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CY2019Q1 us-gaap Goodwill
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CY2019Q1 us-gaap Gross Profit
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64100000 USD
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5300000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2018Q1 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2019Q1 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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100000 USD
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CY2019Q1 us-gaap Income Tax Reconciliation Other Adjustments
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CY2018Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
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500000 USD
CY2019Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
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41000000 USD
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57100000 USD
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CY2019Q1 us-gaap Payments To Acquire Productive Assets
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251000000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
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181500000 USD
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241500000 USD
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900000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Common Limited Partners Units
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630000000 USD
CY2018Q1 us-gaap Proceeds From Minority Shareholders
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15700000 USD
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CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
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CY2019Q1 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
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7200000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
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581400000 USD
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250000000 USD
CY2019Q1 us-gaap Repayments Of Other Debt
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CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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1761200000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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CY2019Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
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CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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196700000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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252700000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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104700000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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94300000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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91600000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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279700000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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P0Y9M
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
CY2018Q1 us-gaap Revenues
Revenues
1761700000 USD
CY2019Q1 us-gaap Revenues
Revenues
1779200000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
80600000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27500000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
51400000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5100000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
11100000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.097
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3386
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0242
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6900000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-2900000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-8400000 USD
CY2018Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
705900000 USD
CY2019Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
634200000 USD
CY2018Q1 us-gaap Undistributed Earnings
UndistributedEarnings
-35700000 USD
CY2019Q1 us-gaap Undistributed Earnings
UndistributedEarnings
-286900000 USD
CY2018Q1 us-gaap Variable Lease Cost
VariableLeaseCost
0 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1600000 USD
CY2018Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
180900000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
181800000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
392000000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
180900000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
392000000 shares

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0001592000-19-000011.txt Edgar Link pending
0001592000-19-000011-xbrl.zip Edgar Link pending
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