2016 Q1 Form 10-Q Financial Statement

#000103129616000079 Filed on April 26, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1 2014 Q3
Revenue $3.869B $3.897B $3.888B
YoY Change -0.72% -6.81% -3.57%
Cost Of Revenue $1.124B $1.113B $1.188B
YoY Change 0.99% -23.51% 6.07%
Gross Profit $2.745B $2.784B $2.700B
YoY Change -1.4% 2.09% -7.28%
Gross Profit Margin 70.95% 71.44% 69.44%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $461.0M $425.0M $343.0M
YoY Change 8.47% 59.77% -45.38%
% of Gross Profit 16.79% 15.27% 12.7%
Operating Expenses $1.905B $2.192B $1.964B
YoY Change -13.09% -5.48% -18.4%
Operating Profit $776.0M $594.0M $716.0M
YoY Change 30.64% 51.92% 40.94%
Interest Expense $288.0M $279.0M $275.0M
YoY Change 3.23% 5.28% 7.0%
% of Operating Profit 37.11% 46.97% 38.41%
Other Income/Expense, Net -$235.0M -$228.0M -$231.0M
YoY Change 3.07% 3.17% 4.05%
Pretax Income $541.0M $366.0M $485.0M
YoY Change 47.81% 115.29% 69.58%
Income Tax $213.0M $144.0M $152.0M
% Of Pretax Income 39.37% 39.34% 31.34%
Net Earnings $328.0M $222.0M $333.0M
YoY Change 47.75% 6.73% 52.75%
Net Earnings / Revenue 8.48% 5.7% 8.56%
Basic Earnings Per Share $0.78 $0.53 $0.79
Diluted Earnings Per Share $0.77 $0.53 $0.79
COMMON SHARES
Basic Shares Outstanding 424.0M shares 421.0M shares 420.0M shares
Diluted Shares Outstanding 426.0M shares 423.0M shares 421.0M shares

Balance Sheet

Concept 2016 Q1 2015 Q1 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $146.0M $90.00M $109.0M
YoY Change 62.22% -17.43% -50.9%
Cash & Equivalents $146.0M $90.00M $90.00M
Short-Term Investments
Other Short-Term Assets $155.0M $157.0M $173.0M
YoY Change -1.27% -21.11% -33.97%
Inventory $781.0M $762.0M $771.0M
Prepaid Expenses
Receivables $1.432B $1.675B $1.605B
Other Receivables $162.0M $201.0M $214.0M
Total Short-Term Assets $3.230B $4.011B $3.785B
YoY Change -19.47% -12.37% 6.35%
LONG-TERM ASSETS
Property, Plant & Equipment $37.64B $36.12B $34.93B
YoY Change 4.23% 6.58% 5.12%
Goodwill $6.418B $6.418B $6.418B
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $526.0M $898.0M $894.0M
YoY Change -41.43% 0.0% -3.04%
Other Assets $1.238B $1.345B $1.169B
YoY Change -7.96% -2.96% -31.15%
Total Long-Term Assets $8.935B $9.135B $9.255B
YoY Change -2.19% -4.86% -9.81%
TOTAL ASSETS
Total Short-Term Assets $3.230B $4.011B $3.785B
Total Long-Term Assets $8.935B $9.135B $9.255B
Total Assets $52.70B $51.88B $51.22B
YoY Change 1.57% 1.27% 1.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.000B $1.102B $1.190B
YoY Change -9.26% -24.26% 19.6%
Accrued Expenses $309.0M $249.0M $277.0M
YoY Change 24.1% 7.33% -4.15%
Deferred Revenue
YoY Change
Short-Term Debt $2.125B $2.559B $1.621B
YoY Change -16.96% -17.05% -52.38%
Long-Term Debt Due $1.355B $787.0M $1.386B
YoY Change 72.17% -44.42% -26.63%
Total Short-Term Liabilities $6.389B $6.262B $5.979B
YoY Change 2.03% -19.06% -24.84%
LONG-TERM LIABILITIES
Long-Term Debt $18.88B $19.13B $18.53B
YoY Change -1.32% 13.84% 21.19%
Other Long-Term Liabilities $1.430B $1.332B $1.258B
YoY Change 7.36% -13.05% -26.69%
Total Long-Term Liabilities $14.96B $14.78B $14.01B
YoY Change 1.25% 4.95% -3.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.389B $6.262B $5.979B
Total Long-Term Liabilities $14.96B $14.78B $14.01B
Total Liabilities $21.35B $21.04B $19.99B
YoY Change 1.48% -3.57% -11.34%
SHAREHOLDERS EQUITY
Retained Earnings $2.279B $2.205B $2.592B
YoY Change 3.36% -11.66% 5.88%
Common Stock $9.963B $9.871B $9.836B
YoY Change 0.93% 0.8% 0.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.46B $12.35B $12.70B
YoY Change
Total Liabilities & Shareholders Equity $52.70B $52.52B $51.22B
YoY Change 0.33% 2.52% 1.67%

Cashflow Statement

Concept 2016 Q1 2015 Q1 2014 Q3
OPERATING ACTIVITIES
Net Income $328.0M $222.0M $333.0M
YoY Change 47.75% 6.73% 52.75%
Depreciation, Depletion And Amortization $461.0M $425.0M $343.0M
YoY Change 8.47% 59.77% -45.38%
Cash From Operating Activities $650.0M $193.0M $1.115B
YoY Change 236.79% -309.78% -5.35%
INVESTING ACTIVITIES
Capital Expenditures -$847.0M -$728.0M -$704.0M
YoY Change 16.35% -16.89% 7.15%
Acquisitions
YoY Change
Other Investing Activities -$39.00M -$10.00M -$17.00M
YoY Change 290.0% 233.33% -64.58%
Cash From Investing Activities -$865.0M -$748.0M -$721.0M
YoY Change 15.64% 45.24% 2.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $31.00M $48.00M
YoY Change -35.42% -90.18%
Cash From Financing Activities $230.0M $560.0M -361.0M
YoY Change -58.93% 12.45% 12.11%
NET CHANGE
Cash From Operating Activities $650.0M $193.0M 1.115B
Cash From Investing Activities -$865.0M -$748.0M -721.0M
Cash From Financing Activities $230.0M $560.0M -361.0M
Net Change In Cash $15.00M $5.000M 33.00M
YoY Change 200.0% -104.59% -78.15%
FREE CASH FLOW
Cash From Operating Activities $650.0M $193.0M $1.115B
Capital Expenditures -$847.0M -$728.0M -$704.0M
Free Cash Flow $1.497B $921.0M $1.819B
YoY Change 62.54% 17.47% -0.87%

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