2013 Q2 Form 10-Q Financial Statement

#000110465913039277 Filed on May 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2013 Q1 2012 Q1
Revenue $262.2M $262.6M $210.0M
YoY Change 20.63% 25.07% 5.23%
Cost Of Revenue $104.1M $104.1M $97.20M
YoY Change 36.97% 7.1% 7.52%
Gross Profit $158.1M $158.5M $146.1M
YoY Change 7.33% 8.44% 21.48%
Gross Profit Margin 60.29% 60.35% 69.6%
Selling, General & Admin $21.00M $16.70M $11.50M
YoY Change 107.92% 45.22% 4.55%
% of Gross Profit 13.28% 10.54% 7.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $63.46M $62.57M $58.02M
YoY Change 5.01% 7.84% 13.54%
% of Gross Profit 40.14% 39.48% 39.7%
Operating Expenses $84.60M $79.20M $69.60M
YoY Change 55.51% 13.79% 10.13%
Operating Profit $73.43M $78.62M $74.09M
YoY Change 1.56% 6.12% 29.75%
Interest Expense $43.32M $51.90M $49.11M
YoY Change -13.77% 5.68% -211.6%
% of Operating Profit 58.99% 66.01% 66.28%
Other Income/Expense, Net
YoY Change
Pretax Income $32.47M $39.61M $28.16M
YoY Change 37.33% 40.7% 168.14%
Income Tax $754.0K $988.0K $492.0K
% Of Pretax Income 2.32% 2.49% 1.75%
Net Earnings $18.89M $25.67M $23.68M
YoY Change 17.58% 8.39% -49.18%
Net Earnings / Revenue 7.2% 9.77% 11.28%
Basic Earnings Per Share
Diluted Earnings Per Share $159.8K $228.9K $283.2K
COMMON SHARES
Basic Shares Outstanding 118.3M shares 83.80M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.50M $48.70M $193.6M
YoY Change -44.16% -74.85% 662.2%
Cash & Equivalents $77.52M $48.69M $193.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $275.0M $267.7M $226.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $352.5M $316.4M $420.2M
YoY Change -5.95% -24.7% 81.83%
LONG-TERM ASSETS
Property, Plant & Equipment $6.889B $6.942B $6.516B
YoY Change 3.8% 6.55% 13.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.41M $11.39M $176.3M
YoY Change -93.67% -93.54% 3.64%
Other Assets $146.5M $174.2M $17.20M
YoY Change 924.48% 912.79% -69.72%
Total Long-Term Assets $7.667B $7.766B $7.293B
YoY Change 3.28% 6.49% 12.92%
TOTAL ASSETS
Total Short-Term Assets $352.5M $316.4M $420.2M
Total Long-Term Assets $7.667B $7.766B $7.293B
Total Assets $8.020B $8.083B $7.713B
YoY Change 2.83% 4.79% 15.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $165.4M $156.0M $140.2M
YoY Change 4.68% 11.27% 23.2%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $189.4M $179.8M $164.2M
YoY Change 3.78% 9.5% 20.29%
LONG-TERM LIABILITIES
Long-Term Debt $3.652B $3.658B $3.706B
YoY Change -4.36% -1.3% 12.06%
Other Long-Term Liabilities $106.1M $117.9M $119.9M
YoY Change -8.61% -1.67% 12.9%
Total Long-Term Liabilities $3.758B $3.776B $3.826B
YoY Change -4.48% -1.31% 12.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $189.4M $179.8M $164.2M
Total Long-Term Liabilities $3.758B $3.776B $3.826B
Total Liabilities $3.947B $3.956B $4.196B
YoY Change -4.12% -5.72% 18.2%
SHAREHOLDERS EQUITY
Retained Earnings $2.431B
YoY Change
Common Stock $4.213B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.671B $3.728B $3.517B
YoY Change
Total Liabilities & Shareholders Equity $8.020B $8.083B $7.713B
YoY Change 2.83% 4.79% 15.3%

Cashflow Statement

Concept 2013 Q2 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $18.89M $25.67M $23.68M
YoY Change 17.58% 8.39% -49.18%
Depreciation, Depletion And Amortization $63.46M $62.57M $58.02M
YoY Change 5.01% 7.84% 13.54%
Cash From Operating Activities $93.90M $42.83M $35.15M
YoY Change -9.28% 21.85% 39.49%
INVESTING ACTIVITIES
Capital Expenditures -$15.80M -$149.3M -$91.50M
YoY Change -90.26% 63.17% -69.08%
Acquisitions
YoY Change
Other Investing Activities $5.300M $215.5M -$32.10M
YoY Change -127.04% -771.34% -169.48%
Cash From Investing Activities -$10.40M $66.14M -$123.6M
YoY Change -94.28% -153.51% -50.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $181.0M
YoY Change
Debt Paid & Issued, Net $942.1M $369.1M
YoY Change 155.26%
Cash From Financing Activities -53.60M -$162.7M $89.10M
YoY Change -326.16% -282.62% 59.68%
NET CHANGE
Cash From Operating Activities 93.90M $42.83M $35.15M
Cash From Investing Activities -10.40M $66.14M -$123.6M
Cash From Financing Activities -53.60M -$162.7M $89.10M
Net Change In Cash 29.90M -$53.75M $641.0K
YoY Change -154.76% -8485.02% -100.38%
FREE CASH FLOW
Cash From Operating Activities $93.90M $42.83M $35.15M
Capital Expenditures -$15.80M -$149.3M -$91.50M
Free Cash Flow $109.7M $192.1M $126.7M
YoY Change -58.71% 51.7% -60.56%

Facts In Submission

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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><b><u><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;" size="2">Note 2.&#160; Recent Accounting Pronouncements</font></u></b></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in;"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;" size="2">Effective January&#160;2013, we adopted Financial Accounting Standards Board, or FASB, Accounting Standards Update No.&#160;2013-02, <i>Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income</i>.&#160; This update is the culmination of the FASB&#8217;s deliberation on reporting reclassification adjustments from accumulated other comprehensive income, or AOCI.&#160; This standard does not change the current requirements for reporting net income or other comprehensive income.&#160; However, it requires disclosure of amounts reclassified out of AOCI in their entirety, by component, on the face of the statement of operations or in the notes thereto.&#160; Amounts that are not required to be reclassified in their entirety to net income must be cross referenced to other disclosures that provide additional detail.&#160; This standard was effective prospectively for interim and annual reporting periods beginning after December&#160;15, 2012.&#160; The implementation of this update did not cause any material changes to the presentation of our condensed consolidated financial statements.</font></p> </div>
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AmortizationOfFinancingCostsAndDiscountsContinuingOperations
746000 USD
CY2012Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-37000 USD
CY2012Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
4528000 USD
CY2012Q1 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
-1000 USD
CY2012Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
29064000 USD
CY2012Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
894000 USD
CY2012Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
28170000 USD
CY2012Q1 us-gaap Depreciation
Depreciation
44443000 USD
CY2012Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
746000 USD
CY2012Q1 us-gaap Straight Line Rent
StraightLineRent
8092000 USD
CY2012Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14411000 USD
CY2012Q1 us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
4793000 USD
CY2013Q1 cwh Loss On Asset Impairment
LossOnAssetImpairment
-3946000 USD
CY2012Q1 cwh Gains Losses On Early Extinguishment Of Debt
GainsLossesOnEarlyExtinguishmentOfDebt
-67000 USD
CY2012Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
2913000 USD
CY2013Q1 cwh Gain Loss On Sale Of Properties And Gain Loss On Disposal Of Discontinued Operation Net Of Tax
GainLossOnSaleOfPropertiesAndGainLossOnDisposalOfDiscontinuedOperationNetOfTax
2856000 USD
CY2012Q1 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
782000 USD
CY2012Q1 cwh Increase Decrease In Rents Receivable And Other Assets
IncreaseDecreaseInRentsReceivableAndOtherAssets
23170000 USD
CY2012Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-20630000 USD
CY2012Q1 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-3781000 USD
CY2012Q1 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
245000 USD
CY2012Q1 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
2372000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
35151000 USD
CY2012Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
91535000 USD
CY2012Q1 cwh Cash Paid For Real Estate Improvements
CashPaidForRealEstateImprovements
26430000 USD
CY2012Q1 cwh Proceeds From Principal Repayments From Direct Financing Lease
ProceedsFromPrincipalRepaymentsFromDirectFinancingLease
1632000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2163000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
239576000 USD
CY2012Q1 cwh Distributions In Excess Of Earnings From Equity Investments
DistributionsInExcessOfEarningsFromEquityInvestments
1266000 USD
CY2012Q1 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
8544000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-123611000 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
180954000 USD
CY2013Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
728021000 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
338500000 USD
CY2012Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
369082000 USD
CY2012Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5767000 USD
CY2012Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
41861000 USD
CY2012Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
13643000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
89101000 USD
CY2013Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
7259000 USD
CY2012Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
183000 USD
CY2012Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
824000 USD
CY2012Q1 us-gaap Interest Paid
InterestPaid
66971000 USD
CY2012Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
34000 USD
CY2012Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
193587000 USD
CY2013Q1 us-gaap Liabilities Of Assets Held For Sale
LiabilitiesOfAssetsHeldForSale
1994000 USD
CY2013Q1 cwh Number Of Properties Sold
NumberOfPropertiesSold
18 property
CY2012Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
-147872000 USD
CY2012Q1 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
147872000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
192763000 USD
CY2013Q1 cwh Number Of Common Managing Trustees With Related Parties
NumberOfCommonManagingTrusteesWithRelatedParties
2 trustee
CY2013Q1 us-gaap Capital Leases Net Investment In Direct Financing Leases Allowance For Uncollectible Minimum Lease Payments
CapitalLeasesNetInvestmentInDirectFinancingLeasesAllowanceForUncollectibleMinimumLeasePayments
0 USD
CY2012Q4 us-gaap Capital Leases Net Investment In Direct Financing Leases Allowance For Uncollectible Minimum Lease Payments
CapitalLeasesNetInvestmentInDirectFinancingLeasesAllowanceForUncollectibleMinimumLeasePayments
0 USD
CY2013Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8082668000 USD
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9957000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
25667000 USD
CY2013Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11151000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
19114000 USD
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14516000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.20
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
-0.05
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.15
CY2013Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
9953000 USD
CY2013Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
27679000 USD

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