2019 Q4 Form 10-Q Financial Statement

#000007274119000042 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $2.050B $2.176B $2.035B
YoY Change 0.76% -4.21% 7.35%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $228.7M $296.5M $207.8M
YoY Change 10.06% -1.63% 2.57%
% of Gross Profit
Operating Expenses $1.615B $1.667B $1.635B
YoY Change -1.23% -7.69% 12.62%
Operating Profit $435.6M $509.2M $400.0M
YoY Change 8.9% 9.27% -9.85%
Interest Expense -$86.30M $135.2M -$126.1M
YoY Change -31.56% 7.99% 23.26%
% of Operating Profit -19.81% 26.55% -31.53%
Other Income/Expense, Net -$18.40M $27.00M $27.70M
YoY Change -166.43% 61.68% -3.48%
Pretax Income $331.0M $401.0M $301.7M
YoY Change 9.71% 12.15% -18.53%
Income Tax $79.10M $80.23M $63.50M
% Of Pretax Income 23.9% 20.01% 21.05%
Net Earnings $251.9M $320.8M $233.2M
YoY Change 8.02% 10.11% -2.59%
Net Earnings / Revenue 12.29% 14.74% 11.46%
Basic Earnings Per Share $0.77 $0.98 $0.73
Diluted Earnings Per Share $0.76 $0.98 $0.73
COMMON SHARES
Basic Shares Outstanding 323.8M shares 324.0M shares 316.9M shares
Diluted Shares Outstanding 326.0M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.00M $23.00M $108.0M
YoY Change -86.11% -61.02% 184.21%
Cash & Equivalents $15.40M $151.9M $209.3M
Short-Term Investments
Other Short-Term Assets $342.1M $312.3M $261.0M
YoY Change 31.09% 53.49% 89.11%
Inventory $235.0M $204.0M $238.0M
Prepaid Expenses
Receivables $989.4M $993.4M $994.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.415B $2.221B $2.292B
YoY Change 5.34% 3.14% -7.84%
LONG-TERM ASSETS
Property, Plant & Equipment $27.64B $26.96B $25.61B
YoY Change 7.9% 7.99% 8.44%
Goodwill $4.427B $4.427B $4.430B
YoY Change -0.07% 0.0% 0.06%
Intangibles
YoY Change
Long-Term Investments $871.6M $861.7M $464.3M
YoY Change 87.72% 47.05% 67.26%
Other Assets $512.2M $606.3M $398.4M
YoY Change 28.57% -8.79% -34.22%
Total Long-Term Assets $11.12B $10.59B $10.34B
YoY Change 7.6% 1.9% 2.2%
TOTAL ASSETS
Total Short-Term Assets $2.415B $2.221B $2.292B
Total Long-Term Assets $11.12B $10.59B $10.34B
Total Assets $41.12B $39.73B $38.24B
YoY Change 7.54% 5.89% 5.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.148B $892.1M $1.120B
YoY Change 2.49% -7.29% 3.22%
Accrued Expenses $9.000M $9.000M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $889.0M $713.0M $910.0M
YoY Change -2.31% -33.18% -16.36%
Long-Term Debt Due $327.4M $853.1M $837.3M
YoY Change -60.9% 120.25% 52.34%
Total Short-Term Liabilities $3.606B $3.749B $4.113B
YoY Change -12.33% 3.27% 14.6%
LONG-TERM LIABILITIES
Long-Term Debt $13.77B $13.44B $12.25B
YoY Change 12.43% 10.6% 4.02%
Other Long-Term Liabilities $810.6M $1.291B $730.1M
YoY Change 11.02% 17.98% -31.99%
Total Long-Term Liabilities $14.58B $9.719B $9.654B
YoY Change 51.04% 1.39% 0.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.606B $3.749B $4.113B
Total Long-Term Liabilities $14.58B $9.719B $9.654B
Total Liabilities $18.19B $13.47B $13.77B
YoY Change 32.11% 1.9% 4.27%
SHAREHOLDERS EQUITY
Retained Earnings $4.177B $4.100B $3.954B
YoY Change 5.64% 5.6% 11.03%
Common Stock $1.729B $1.699B $1.669B
YoY Change 3.59% 1.79% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $299.1M $301.8M $317.8M
YoY Change -5.89% -5.04% 0.0%
Treasury Stock Shares 15.98M shares 16.12M shares 16.99M shares
Shareholders Equity $12.63B $12.12B $11.49B
YoY Change
Total Liabilities & Shareholders Equity $41.12B $39.73B $38.24B
YoY Change 7.54% 5.89% 5.58%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income $251.9M $320.8M $233.2M
YoY Change 8.02% 10.11% -2.59%
Depreciation, Depletion And Amortization $228.7M $296.5M $207.8M
YoY Change 10.06% -1.63% 2.57%
Cash From Operating Activities $514.7M $570.3M $422.8M
YoY Change 21.74% -19.63% -18.75%
INVESTING ACTIVITIES
Capital Expenditures -$782.5M -$751.2M -$684.8M
YoY Change 14.27% 18.6% -2.98%
Acquisitions
YoY Change
Other Investing Activities -$40.00M -$106.9M -$46.60M
YoY Change -14.16% -242.53% -94.66%
Cash From Investing Activities -$822.5M -$858.1M -$731.4M
YoY Change 12.46% 53.64% -53.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $425.4M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 272.9M 272.6M 383.3M
YoY Change -28.8% -296.97% -60.57%
NET CHANGE
Cash From Operating Activities 514.7M 570.3M 422.8M
Cash From Investing Activities -822.5M -858.1M -731.4M
Cash From Financing Activities 272.9M 272.6M 383.3M
Net Change In Cash -34.90M -15.20M 74.70M
YoY Change -146.72% -219.69% -186.86%
FREE CASH FLOW
Cash From Operating Activities $514.7M $570.3M $422.8M
Capital Expenditures -$782.5M -$751.2M -$684.8M
Free Cash Flow $1.297B $1.322B $1.108B
YoY Change 17.12% -1.6% -9.67%

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CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
317360110 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
320442253 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
317367252 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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326008342 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
317967311 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
321570926 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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317948498 shares
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945000 USD
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1627000 USD
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169000 USD
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1268000 USD
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1880000 USD
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1880000 USD
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5639000 USD
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5639000 USD
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1880000 USD
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DividendsPreferredStock
1880000 USD
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us-gaap Pension And Other Postretirement Benefit Expense
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120373000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
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us-gaap Increase Decrease In Regulatory Assets And Liabilities
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us-gaap Amortization Of Deferred Charges
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TangibleAssetImpairmentCharges
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Payments To Acquire Equity Method Investments
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27342000 USD
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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ProceedsFromIssuanceOfRateReductionBonds
635663000 USD
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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204400000 USD
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CY2019Q3 us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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21400000 USD
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10700000 USD
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TaxRemittanceToStateForEnergyEfficiencyFunds
36100000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2019Q3 us-gaap Nonoperating Income Expense
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CY2018Q3 us-gaap Nonoperating Income Expense
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16700000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
103800000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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32900000 USD
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42600000 USD
CY2018Q3 us-gaap Excise And Sales Taxes
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43500000 USD
us-gaap Excise And Sales Taxes
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124000000.0 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
303700000 USD
CY2019Q3 us-gaap Cash
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22700000 USD
CY2018Q4 us-gaap Cash
Cash
108100000 USD
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151900000 USD
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CY2018Q4 us-gaap Regulatory Assets
RegulatoryAssets
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CY2019Q3 us-gaap Regulatory Assets Current
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CY2018Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
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CY2019Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
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CY2018Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
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122900000 USD
CY2019Q3 us-gaap Regulatory Liabilities
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CY2018Q4 us-gaap Regulatory Liabilities
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CY2019Q3 us-gaap Regulatory Liability Current
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441200000 USD
CY2018Q4 us-gaap Regulatory Liability Current
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RegulatoryLiabilityNoncurrent
3644500000 USD
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3609500000 USD
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15737600000 USD
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CY2019Q3 us-gaap Public Utilities Property Plant And Equipment Transmission
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CY2018Q4 us-gaap Public Utilities Property Plant And Equipment Transmission
PublicUtilitiesPropertyPlantAndEquipmentTransmission
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CY2019Q3 es Public Utilities Property Plant And Equipment Distribution Water
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CY2018Q4 es Public Utilities Property Plant And Equipment Distribution Water
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CY2019Q3 us-gaap Public Utilities Property Plant And Equipment Generation Or Processing
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CY2018Q4 us-gaap Public Utilities Property Plant And Equipment Generation Or Processing
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CY2019Q3 es Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total
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30575100000 USD
CY2019Q3 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
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CY2018Q4 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
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CY2019Q3 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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CY2018Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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7126200000 USD
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CY2018Q4 es Other Accumulated Depreciation
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CY2019Q3 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
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CY2018Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
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23890800000 USD
CY2019Q3 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
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1852000000.0 USD
CY2018Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
1719600000 USD
CY2019Q3 us-gaap Public Utilities Property Plant And Equipment Net
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26911900000 USD
CY2018Q4 us-gaap Public Utilities Property Plant And Equipment Net
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25610400000 USD
es Percentageof Costsor Benefits Borne Under Capacity Related Contractsby United Illuminated Company
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0.20
CY2019Q3 es Amountof Capacity Provided Under Capacity Contract
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679 MW
CY2018Q4 es Amountof Capacity Provided Under Capacity Contract
AmountofCapacityProvidedUnderCapacityContract
787 MW
es Amountof Natural Gas To Be Purchased Under Futures Contracts
AmountofNaturalGasToBePurchasedUnderFuturesContracts
11600000 MMBTU
CY2018 es Amountof Natural Gas To Be Purchased Under Futures Contracts
AmountofNaturalGasToBePurchasedUnderFuturesContracts
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