2021 Q1 Form 10-Q Financial Statement

#000006598421000182 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $2.845B $2.427B
YoY Change 17.21% -6.99%
Cost Of Revenue $423.5M $266.8M
YoY Change 58.73% -31.57%
Gross Profit $2.421B $2.160B
YoY Change 12.08% -2.67%
Gross Profit Margin 85.11% 89.01%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $580.6M $568.6M
YoY Change 2.11% 7.24%
% of Gross Profit 23.98% 26.32%
Operating Expenses $1.910B $1.756B
YoY Change 8.8% -5.74%
Operating Profit $508.0M $399.8M
YoY Change 27.08% 41.13%
Interest Expense $199.9M $190.1M
YoY Change 5.12% 3.6%
% of Operating Profit 39.35% 47.57%
Other Income/Expense, Net $96.96M -$157.5M
YoY Change -161.56% -178.09%
Pretax Income $405.1M $52.10M
YoY Change 677.52% -82.71%
Income Tax $65.94M -$71.19M
% Of Pretax Income 16.28% -136.65%
Net Earnings $339.1M $123.3M
YoY Change 175.07% -52.33%
Net Earnings / Revenue 11.92% 5.08%
Basic Earnings Per Share $1.67 $0.59
Diluted Earnings Per Share $1.66 $0.59
COMMON SHARES
Basic Shares Outstanding 200.5M shares 199.8M shares
Diluted Shares Outstanding 201.1M shares 200.9M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.743B $1.464B
YoY Change 19.06% 48.93%
Cash & Equivalents $1.743B $1.464B
Short-Term Investments $1.675B $1.180B
Other Short-Term Assets $1.004B $805.0M
YoY Change 24.72% 1.9%
Inventory $1.119B $999.0M
Prepaid Expenses
Receivables $1.338B $1.076B
Other Receivables $159.0M $112.0M
Total Short-Term Assets $4.789B $3.974B
YoY Change 20.5% 16.61%
LONG-TERM ASSETS
Property, Plant & Equipment $355.8M $335.3M
YoY Change 6.12% 8.09%
Goodwill $377.2M $377.2M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $332.6M $339.1M
YoY Change -1.92% 2.54%
Total Long-Term Assets $53.88B $48.58B
YoY Change 10.91% 5.16%
TOTAL ASSETS
Total Short-Term Assets $4.789B $3.974B
Total Long-Term Assets $53.88B $48.58B
Total Assets $58.67B $52.56B
YoY Change 11.63% 5.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.697B $1.502B
YoY Change 12.97% 6.83%
Accrued Expenses $472.0M $441.0M
YoY Change 7.03% -11.45%
Deferred Revenue $391.0M $408.8M
YoY Change -4.35%
Short-Term Debt $1.028B $1.942B
YoY Change -47.08% -0.03%
Long-Term Debt Due $629.0M $1.230B
YoY Change -48.86% 719.96%
Total Short-Term Liabilities $4.512B $6.018B
YoY Change -25.03% 23.8%
LONG-TERM LIABILITIES
Long-Term Debt $24.08B $18.23B
YoY Change 32.08% 6.18%
Other Long-Term Liabilities $14.02B $13.24B
YoY Change 5.91% -4.53%
Total Long-Term Liabilities $42.88B $36.06B
YoY Change 18.93% 1.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.512B $6.018B
Total Long-Term Liabilities $42.88B $36.06B
Total Liabilities $47.40B $42.08B
YoY Change 12.64% 4.11%
SHAREHOLDERS EQUITY
Retained Earnings $10.04B $9.190B
YoY Change 9.26% 4.32%
Common Stock $6.523B $6.513B
YoY Change 0.14% 9.97%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.046B $5.081B
YoY Change -0.68% -2.51%
Treasury Stock Shares 69.40M shares 69.87M shares
Shareholders Equity $11.02B $10.22B
YoY Change
Total Liabilities & Shareholders Equity $58.67B $52.56B
YoY Change 11.63% 5.95%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $339.1M $123.3M
YoY Change 175.07% -52.33%
Depreciation, Depletion And Amortization $580.6M $568.6M
YoY Change 2.11% 7.24%
Cash From Operating Activities -$49.57M $659.1M
YoY Change -107.52% 31.5%
INVESTING ACTIVITIES
Capital Expenditures -$1.600B -$1.154B
YoY Change 38.7% 16.51%
Acquisitions
YoY Change
Other Investing Activities -$12.52M -$2.265M
YoY Change 452.8% -94.2%
Cash From Investing Activities -$1.513B -$1.045B
YoY Change 44.74% 9.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.346B $1.615B
YoY Change -16.62% -29.77%
Cash From Financing Activities $1.546B $1.425B
YoY Change 8.55% 49.59%
NET CHANGE
Cash From Operating Activities -$49.57M $659.1M
Cash From Investing Activities -$1.513B -$1.045B
Cash From Financing Activities $1.546B $1.425B
Net Change In Cash -$16.44M $1.038B
YoY Change -101.58% 106.58%
FREE CASH FLOW
Cash From Operating Activities -$49.57M $659.1M
Capital Expenditures -$1.600B -$1.154B
Free Cash Flow $1.550B $1.813B
YoY Change -14.47% 21.55%

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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2427179000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-71194000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
123294000 USD
CY2020Q4 us-gaap Assets
Assets
58239212000 USD
CY2021Q1 etr Number Of Derivative Contract Counterparties In A Liability Position
NumberOfDerivativeContractCounterpartiesInALiabilityPosition
1 counterparty
CY2021Q1 etr Volume Of Natural Gas Swaps Outstanding
VolumeOfNaturalGasSwapsOutstanding
41296000 MMBTU
CY2021Q1 etr Volumeof Financial Transmission Rights Outstanding
VolumeofFinancialTransmissionRightsOutstanding
23009 GWh
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
42000000 USD
CY2020Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
148000000 USD
CY2021Q1 etr Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Tax
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionTax
8000000 USD
CY2020Q1 etr Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Tax
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionTax
20000000 USD
CY2021Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1675000000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
807000000 USD
CY2021Q1 us-gaap Debt Securities
DebtSecurities
3436000000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
44000000 USD
CY2021Q1 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
103000000 USD
CY2021Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
9172000000 USD
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
1630000000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
1533000000 USD
CY2020Q4 us-gaap Debt Securities
DebtSecurities
2617000000 USD
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
9122000000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
6400000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
100000 USD
CY2021Q1 etr Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Assetand Liability Unrealized Gains Loss Includedin Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetandLiabilityUnrealizedGainsLossIncludedinEarnings
700000 USD
CY2020Q1 etr Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Assetand Liability Unrealized Gains Loss Includedin Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetandLiabilityUnrealizedGainsLossIncludedinEarnings
1000000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
200000000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
3376000000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2423000000 USD
CY2021Q1 etr Average Coupon Rate Of Debt Securities Percentage
AverageCouponRateOfDebtSecuritiesPercentage
0.0259
CY2021Q1 etr Average Durationof Debt Securitiesin Years
AverageDurationofDebtSecuritiesinYears
P5Y11M23D
CY2021Q1 etr Average Maturityof Debt Securities Years
AverageMaturityofDebtSecuritiesYears
P8Y5M12D
CY2021Q1 etr Available For Sale Securities Debt Maturities After Twenty Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTwentyYearsFairValue
532000000 USD
CY2020Q4 etr Available For Sale Securities Debt Maturities After Twenty Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTwentyYearsFairValue
576000000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
0 USD
CY2020Q4 etr Debt Securities Available For Sale Maturity Allocated And Single Maturity Date Within One Year Negative Fair Value
DebtSecuritiesAvailableForSaleMaturityAllocatedAndSingleMaturityDateWithinOneYearNegativeFairValue
4000000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
1027000000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
672000000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
1257000000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
852000000 USD
CY2021Q1 etr Available For Sale Securities Debt Maturities After Ten To Fifteen Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenToFifteenYearsFairValue
492000000 USD
CY2020Q4 etr Available For Sale Securities Debt Maturities After Ten To Fifteen Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenToFifteenYearsFairValue
377000000 USD
CY2021Q1 etr Available For Sale Securities Debt Maturities After Fifteen To Twenty Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFifteenToTwentyYearsFairValue
128000000 USD
CY2020Q4 etr Available For Sale Securities Debt Maturities After Fifteen To Twenty Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFifteenToTwentyYearsFairValue
144000000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
3436000000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2617000000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
524000000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
400000000 USD
CY2021Q1 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
11000000 USD
CY2020Q1 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
14000000 USD
CY2021Q1 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
11000000 USD
CY2020Q1 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
3000000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
6400000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
100000 USD
CY2021Q1 etr Reductiontoregulatoryliabilityduetoreturnofunprotectedexcessaccumulateddeferredincometaxes
Reductiontoregulatoryliabilityduetoreturnofunprotectedexcessaccumulateddeferredincometaxes
41000000 USD
CY2020Q1 etr Reductiontoregulatoryliabilityduetoreturnofunprotectedexcessaccumulateddeferredincometaxes
Reductiontoregulatoryliabilityduetoreturnofunprotectedexcessaccumulateddeferredincometaxes
30000000 USD
CY2021Q1 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
496400000 USD
CY2020Q4 us-gaap Construction Payable Current And Noncurrent
ConstructionPayableCurrentAndNoncurrent
745000000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2844838000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2427179000 USD
CY2020Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
117700000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
3200000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3800000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1900000 USD
CY2021Q1 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
119000000.0 USD
CY2019Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
7400000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
6600000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
8400000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
2900000 USD
CY2020Q1 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
8500000 USD

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