2017 Q2 Form 10-Q Financial Statement

#000127618717000048 Filed on May 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q1
Revenue $9.427B $9.661B $11.88B
YoY Change -33.23% -18.69% 22.99%
Cost Of Revenue $7.167B $7.510B $5.623B
YoY Change 30.81% 33.56% -33.75%
Gross Profit $2.260B $2.151B $6.259B
YoY Change -73.84% -65.63% 433.13%
Gross Profit Margin 23.97% 22.26% 52.68%
Selling, General & Admin $173.0M $165.0M $168.0M
YoY Change 15.33% -1.79% 8.39%
% of Gross Profit 7.65% 7.67% 2.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $607.0M $628.0M $562.0M
YoY Change 24.9% 11.74% 14.0%
% of Gross Profit 26.86% 29.2% 8.98%
Operating Expenses $173.0M $165.0M $168.0M
YoY Change 15.33% -1.79% 8.39%
Operating Profit $743.0M $757.0M $1.100B
YoY Change -34.01% -31.18% 45.12%
Interest Expense $477.0M $473.0M $427.0M
YoY Change 7.67% 10.77% 15.09%
% of Operating Profit 64.2% 62.48% 38.82%
Other Income/Expense, Net $57.00M $17.00M $16.00M
YoY Change 119.23% 6.25% 128.57%
Pretax Income $347.0M $368.0M $281.0M
YoY Change -13.68% 30.96% 20.6%
Income Tax $33.00M $38.00M -$55.00M
% Of Pretax Income 9.51% 10.33% -19.57%
Net Earnings $212.0M $239.0M $312.0M
YoY Change -12.03% -23.4% 9.86%
Net Earnings / Revenue 2.25% 2.47% 2.63%
Basic Earnings Per Share
Diluted Earnings Per Share $185.8K $209.8K $294.9K
COMMON SHARES
Basic Shares Outstanding 1.079B shares 1.079B shares 1.045B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $375.0M $370.0M $807.0M
YoY Change -21.05% -54.15% -56.68%
Cash & Equivalents $379.0M $353.0M $807.0M
Short-Term Investments
Other Short-Term Assets $401.0M $513.0M $743.0M
YoY Change -37.73% -30.96% 80.78%
Inventory $1.882B $2.065B $1.499B
Prepaid Expenses
Receivables $3.329B $3.485B $2.412B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.33B $6.514B $5.584B
YoY Change 69.56% 16.65% -17.75%
LONG-TERM ASSETS
Property, Plant & Equipment $56.81B $56.97B $50.13B
YoY Change 10.55% 13.65% 18.38%
Goodwill $5.174B $6.750B $7.471B
YoY Change -31.15% -9.65% -3.0%
Intangibles $6.267B $6.837B $5.396B
YoY Change 17.01% 26.7% -2.83%
Long-Term Investments $3.182B $3.103B $3.442B
YoY Change -7.85% -9.85% -5.85%
Other Assets $852.0M $826.0M $731.0M
YoY Change 14.82% 13.0% -23.29%
Total Long-Term Assets $72.28B $74.48B $67.18B
YoY Change 5.57% 10.87% 11.57%
TOTAL ASSETS
Total Short-Term Assets $10.33B $6.514B $5.584B
Total Long-Term Assets $72.28B $74.48B $67.18B
Total Assets $82.61B $81.00B $72.77B
YoY Change 10.8% 11.31% 8.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.368B $3.363B $2.399B
YoY Change 14.91% 40.18% -16.27%
Accrued Expenses $2.923B $2.304B $2.273B
YoY Change 33.17% 1.36% 51.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.370B $392.0M $930.0M
YoY Change 35.24% -57.85% 245.72%
Total Short-Term Liabilities $7.765B $6.218B $5.691B
YoY Change 25.48% 9.26% 6.83%
LONG-TERM LIABILITIES
Long-Term Debt $43.08B $42.58B $37.40B
YoY Change 11.9% 13.86% 12.8%
Other Long-Term Liabilities $1.178B $1.237B $1.117B
YoY Change 3.61% 10.74% -14.93%
Total Long-Term Liabilities $44.26B $43.82B $38.52B
YoY Change 11.67% 13.76% 11.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.765B $6.218B $5.691B
Total Long-Term Liabilities $44.26B $43.82B $38.52B
Total Liabilities $52.03B $50.04B $44.21B
YoY Change 13.53% 13.19% 11.08%
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 -$1.185B -$1.147B -$1.686B
YoY Change
Total Liabilities & Shareholders Equity $82.61B $81.00B $72.77B
YoY Change 10.8% 11.31% 8.6%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $212.0M $239.0M $312.0M
YoY Change -12.03% -23.4% 9.86%
Depreciation, Depletion And Amortization $607.0M $628.0M $562.0M
YoY Change 24.9% 11.74% 14.0%
Cash From Operating Activities $701.0M $771.0M $985.0M
YoY Change 29.1% -21.73% 71.3%
INVESTING ACTIVITIES
Capital Expenditures -$1.471B -$1.408B -$1.948B
YoY Change -17.13% -27.72% -9.73%
Acquisitions $330.0M $2.000M
YoY Change 16400.0% -99.46%
Other Investing Activities -$332.0M $3.000M $1.000M
YoY Change 472.41% 200.0% -75.0%
Cash From Investing Activities -$1.803B $244.0M -$1.942B
YoY Change -1.64% -112.56% -24.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $9.809B $4.422B
YoY Change 121.82% -25.53%
Cash From Financing Activities 1.128B -$1.209B $1.158B
YoY Change 16.53% -204.4% -61.73%
NET CHANGE
Cash From Operating Activities 701.0M $771.0M $985.0M
Cash From Investing Activities -1.803B $244.0M -$1.942B
Cash From Financing Activities 1.128B -$1.209B $1.158B
Net Change In Cash 26.00M -$194.0M $201.0M
YoY Change -108.07% -196.52% -80.22%
FREE CASH FLOW
Cash From Operating Activities $701.0M $771.0M $985.0M
Capital Expenditures -$1.471B -$1.408B -$1.948B
Free Cash Flow $2.172B $2.179B $2.933B
YoY Change -6.3% -25.71% 7.32%

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CY2017Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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CY2017Q1 us-gaap Unrealized Gain Loss On Derivatives
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CY2017Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
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CY2016Q1 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
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CY2017Q1 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
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CY2017Q1 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The unaudited consolidated financial statements have been prepared in conformity with GAAP, which includes the use of estimates and assumptions made by management that affect the reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities that exist at the date of the consolidated financial statements. Although these estimates are based on management&#8217;s available knowledge of current and expected future events, actual results could be different from those estimates.</font></div></div>

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