2015 Q1 Form 10-Q Financial Statement

#000006598415000145 Filed on May 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $2.920B $3.209B
YoY Change -9.0% 23.0%
Cost Of Revenue $406.9M $634.2M
YoY Change -35.84% 46.2%
Gross Profit $2.513B $2.575B
YoY Change -2.38% 18.37%
Gross Profit Margin 86.07% 80.23%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $526.0M $516.4M
YoY Change 1.86% 9.2%
% of Gross Profit 20.93% 20.06%
Operating Expenses $2.377B $2.469B
YoY Change -3.71% 11.47%
Operating Profit $542.8M $739.9M
YoY Change -26.64% 87.76%
Interest Expense $160.2M $155.5M
YoY Change 3.01% 5.12%
% of Operating Profit 29.52% 21.02%
Other Income/Expense, Net $70.85M $38.67M
YoY Change 83.21% 3.31%
Pretax Income $453.4M $623.0M
YoY Change -27.23% 119.75%
Income Tax $150.5M $217.0M
% Of Pretax Income 33.19% 34.82%
Net Earnings $298.1M $401.2M
YoY Change -25.71% 148.56%
Net Earnings / Revenue 10.21% 12.5%
Basic Earnings Per Share $1.66 $2.24
Diluted Earnings Per Share $1.65 $2.24
COMMON SHARES
Basic Shares Outstanding 179.7M shares 178.8M shares
Diluted Shares Outstanding 180.5M shares 179.1M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.181B $908.0M
YoY Change 30.07% 195.77%
Cash & Equivalents $1.181B $908.5M
Short-Term Investments $1.113B $800.0M
Other Short-Term Assets $304.1M $424.8M
YoY Change -28.4% -61.56%
Inventory $1.158B $1.119B
Prepaid Expenses
Receivables $1.068B $1.128B
Other Receivables $174.0M $185.0M
Total Short-Term Assets $4.140B $4.193B
YoY Change -1.27% 26.19%
LONG-TERM ASSETS
Property, Plant & Equipment $218.2M $199.3M
YoY Change 9.53% -99.28%
Goodwill $377.2M $377.2M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $34.86M $39.37M
YoY Change -11.45% -14.41%
Other Assets $965.2M $961.2M
YoY Change 0.42% -91.62%
Total Long-Term Assets $7.316B $6.278B
YoY Change 16.54% -84.1%
TOTAL ASSETS
Total Short-Term Assets $4.140B $4.193B
Total Long-Term Assets $7.316B $6.278B
Total Assets $46.38B $43.88B
YoY Change 5.7% 2.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $941.6M $1.146B
YoY Change -17.81% 10.58%
Accrued Expenses $419.5M $118.7M
YoY Change 253.27% -78.41%
Deferred Revenue
YoY Change
Short-Term Debt $808.0M $1.205B
YoY Change -32.95% 12.2%
Long-Term Debt Due $896.9M $422.7M
YoY Change 112.2% -33.33%
Total Short-Term Liabilities $3.765B $3.917B
YoY Change -3.88% 0.55%
LONG-TERM LIABILITIES
Long-Term Debt $12.31B $12.20B
YoY Change 0.89% 3.7%
Other Long-Term Liabilities $539.4M $579.8M
YoY Change -6.96% -93.57%
Total Long-Term Liabilities $32.17B $29.71B
YoY Change 8.31% 42.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.765B $3.917B
Total Long-Term Liabilities $32.17B $29.71B
Total Liabilities $35.94B $33.62B
YoY Change 6.89% 0.97%
SHAREHOLDERS EQUITY
Retained Earnings $10.32B $10.08B
YoY Change 2.39%
Common Stock $2.548M $2.548M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.479B $5.478B
YoY Change 0.03%
Treasury Stock Shares 75.24M shares 75.61M shares
Shareholders Equity $10.13B $9.948B
YoY Change
Total Liabilities & Shareholders Equity $46.38B $43.88B
YoY Change 5.7% 2.53%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $298.1M $401.2M
YoY Change -25.71% 148.56%
Depreciation, Depletion And Amortization $526.0M $516.4M
YoY Change 1.86% 9.2%
Cash From Operating Activities $611.0M $767.2M
YoY Change -20.36% 41.02%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$626.0M
YoY Change -100.0% -19.43%
Acquisitions
YoY Change
Other Investing Activities -$278.0K -$18.09M
YoY Change -98.46% -140.84%
Cash From Investing Activities -$699.9M -$655.6M
YoY Change 6.75% -0.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $25.08M $0.00
YoY Change
Debt Paid & Issued, Net $685.3M $735.8M
YoY Change -6.87% -13.42%
Cash From Financing Activities -$152.6M $57.80M
YoY Change -363.95% -137.87%
NET CHANGE
Cash From Operating Activities $611.0M $767.2M
Cash From Investing Activities -$699.9M -$655.6M
Cash From Financing Activities -$152.6M $57.80M
Net Change In Cash -$241.5M $169.4M
YoY Change -242.59% -162.63%
FREE CASH FLOW
Cash From Operating Activities $611.0M $767.2M
Capital Expenditures $0.00 -$626.0M
Free Cash Flow $611.0M $1.393B
YoY Change -56.15% 5.46%

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CY2015Q1 us-gaap Securitized Regulatory Transition Assets Noncurrent
SecuritizedRegulatoryTransitionAssetsNoncurrent
699764000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
456100 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.41
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7413220 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
84.16
CY2014Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
598407000 USD
CY2015Q1 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
808419000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
38941000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
19969000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
10007725000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
10133979000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9726466000 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10042428000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10101725000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10227979000 USD
CY2014Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
154468000 USD
CY2015Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
157523000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
128108000 USD
CY2015Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
60167000 USD
CY2014Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
210760000 USD
CY2015Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
210760000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
75512079 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
75238343 shares
CY2015Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
325400 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
5497526000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
5478972000 USD
CY2015Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
25100000 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
111000000 USD
CY2014Q1 us-gaap Utilities Operating Expense Fuel Used
UtilitiesOperatingExpenseFuelUsed
543829000 USD
CY2015Q1 us-gaap Utilities Operating Expense Fuel Used
UtilitiesOperatingExpenseFuelUsed
630453000 USD
CY2014Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
735710000 USD
CY2015Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
770110000 USD
CY2014Q1 us-gaap Utility Revenue
UtilityRevenue
3208843000 USD
CY2015Q1 us-gaap Utility Revenue
UtilityRevenue
2920090000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
179055967 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
180480523 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
178797829 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
179658981 shares

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