2018 Q3 Form 10-Q Financial Statement

#000103129618000067 Filed on October 25, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q4 2017 Q3
Revenue $3.064B $2.681B $2.910B
YoY Change 5.29% -20.56% -25.71%
Cost Of Revenue $876.0M $711.0M $774.0M
YoY Change 13.18% 123.58% -20.94%
Gross Profit $2.188B $1.970B $2.136B
YoY Change 2.43% -344.72% -27.3%
Gross Profit Margin 71.41% 73.48% 73.4%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $283.0M $262.0M $261.0M
YoY Change 8.43% -22.71% -16.08%
% of Gross Profit 12.93% 13.3% 12.22%
Operating Expenses $1.478B $1.437B $1.390B
YoY Change 6.33% -168.59% -33.59%
Operating Profit $710.0M $505.0M $733.0M
YoY Change -3.14% -105.66% -14.87%
Interest Expense $255.0M -$241.0M $262.0M
YoY Change -2.67% 15.31% -8.39%
% of Operating Profit 35.92% -47.72% 35.74%
Other Income/Expense, Net -$190.0M $9.000M -$230.0M
YoY Change -17.39% -79.55% 0.0%
Pretax Income $520.0M $171.0M $503.0M
YoY Change 3.38% -101.86% -20.29%
Income Tax $121.0M $1.232B $202.0M
% Of Pretax Income 23.27% 720.47% 40.16%
Net Earnings -$458.0M -$2.499B $396.0M
YoY Change -215.66% -56.88% 4.21%
Net Earnings / Revenue -14.95% -93.21% 13.61%
Basic Earnings Per Share -$1.02 -$5.62 $0.89
Diluted Earnings Per Share -$1.02 -$5.62 $0.89
COMMON SHARES
Basic Shares Outstanding 503.0M shares 444.0M shares
Diluted Shares Outstanding 505.0M shares 446.0M shares

Balance Sheet

Concept 2018 Q3 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $436.0M $588.0M $399.0M
YoY Change 9.27% 195.48% -27.59%
Cash & Equivalents $436.0M $588.0M $399.0M
Short-Term Investments
Other Short-Term Assets $236.0M $151.0M $143.0M
YoY Change 65.03% -4.43% -8.33%
Inventory $240.0M $236.0M $543.0M
Prepaid Expenses
Receivables $1.317B $1.282B $1.370B
Other Receivables $299.0M $170.0M $172.0M
Total Short-Term Assets $2.596B $3.110B $2.931B
YoY Change -11.43% 5.42% -15.78%
LONG-TERM ASSETS
Property, Plant & Equipment $29.41B $28.10B $29.50B
YoY Change -0.31% -4.38% -22.03%
Goodwill $5.618B $5.618B $5.618B
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $507.0M $506.0M $511.0M
YoY Change -0.78% -1.17% -4.13%
Other Assets $413.0M $697.0M $742.0M
YoY Change -44.34% -39.55% -18.19%
Total Long-Term Assets $6.111B $6.711B $7.289B
YoY Change -16.16% -13.8% -4.26%
TOTAL ASSETS
Total Short-Term Assets $2.596B $3.110B $2.931B
Total Long-Term Assets $6.111B $6.711B $7.289B
Total Assets $39.44B $42.26B $43.65B
YoY Change -9.64% -2.06% -16.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $997.0M $827.0M $924.0M
YoY Change 7.9% -20.71% -2.12%
Accrued Expenses $300.0M $257.0M $337.0M
YoY Change -10.98% -29.2% -7.67%
Deferred Revenue
YoY Change
Short-Term Debt $1.700B $300.0M $500.0M
YoY Change 240.0% -88.79% -83.19%
Long-Term Debt Due $1.128B $558.0M $1.076B
YoY Change 4.83% -66.88% -11.51%
Total Short-Term Liabilities $5.800B $4.113B $4.255B
YoY Change 36.31% -42.28% -39.59%
LONG-TERM LIABILITIES
Long-Term Debt $16.61B $18.69B $21.09B
YoY Change -21.25% 2.72% 13.8%
Other Long-Term Liabilities $1.591B $1.438B $1.435B
YoY Change 10.87% -7.05% 13.08%
Total Long-Term Liabilities $10.16B $15.53B $11.90B
YoY Change -14.6% 34.02% -20.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.800B $4.113B $4.255B
Total Long-Term Liabilities $10.16B $15.53B $11.90B
Total Liabilities $15.96B $19.65B $16.15B
YoY Change -1.19% 4.97% -26.32%
SHAREHOLDERS EQUITY
Retained Earnings -$5.017B -$6.262B -$3.763B
YoY Change 33.32% 38.17% -397.71%
Common Stock $11.71B $10.00B $9.974B
YoY Change 17.39% -5.25% -0.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.873B $3.925B $6.406B
YoY Change
Total Liabilities & Shareholders Equity $39.44B $42.26B $43.65B
YoY Change -9.64% -2.06% -16.0%

Cashflow Statement

Concept 2018 Q3 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$458.0M -$2.499B $396.0M
YoY Change -215.66% -56.88% 4.21%
Depreciation, Depletion And Amortization $283.0M $262.0M $261.0M
YoY Change 8.43% -22.71% -16.08%
Cash From Operating Activities $846.0M $1.046B $1.280B
YoY Change -33.91% 32.24% 14.29%
INVESTING ACTIVITIES
Capital Expenditures -$635.0M -$838.0M -$615.0M
YoY Change 3.25% 17.04% -8.35%
Acquisitions
YoY Change
Other Investing Activities -$37.00M $321.0M -$76.00M
YoY Change -51.32% -391.82% 100.0%
Cash From Investing Activities -$672.0M -$517.0M -$691.0M
YoY Change -2.75% -37.41% -2.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.00M -321.0M -325.0M
YoY Change -96.62% -5.03% 450.85%
NET CHANGE
Cash From Operating Activities 846.0M 1.046B 1.280B
Cash From Investing Activities -672.0M -517.0M -691.0M
Cash From Financing Activities -11.00M -321.0M -325.0M
Net Change In Cash 163.0M 208.0M 264.0M
YoY Change -38.26% -155.76% -25.0%
FREE CASH FLOW
Cash From Operating Activities $846.0M $1.046B $1.280B
Capital Expenditures -$635.0M -$838.0M -$615.0M
Free Cash Flow $1.481B $1.884B $1.895B
YoY Change -21.85% 25.02% 5.81%

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CY2017Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
8000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
25000000 USD
CY2018Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
11000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
33000000 USD
CY2017Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
48000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
102000000 USD
CY2018Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
16000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
50000000 USD
CY2017Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
40000000 USD
CY2018Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
80000000 USD
CY2017Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
2720000000 USD
CY2018Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
2673000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1711000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2278000000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
2175000000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0 USD
CY2017Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
51000000 USD
CY2018Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
51000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6262000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-5017000000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2986000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8313000000 USD
CY2017Q3 us-gaap Revenues
Revenues
2910000000 USD
us-gaap Revenues
Revenues
8247000000 USD
CY2018Q3 us-gaap Revenues
Revenues
3064000000 USD
us-gaap Revenues
Revenues
8551000000 USD
CY2017Q4 us-gaap Securities Loaned
SecuritiesLoaned
39000000 USD
CY2018Q3 us-gaap Securities Loaned
SecuritiesLoaned
27000000 USD
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
300000000 USD
CY2018Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
1700000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3925000000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
6873000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
174000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
163000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
151000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
142000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
73000000 USD
CY2017Q3 us-gaap Undistributed Discontinued Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedDiscontinuedOperationEarningsLossAllocationToParticipatingSecuritiesBasic
0 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
61000000 USD
CY2017Q3 us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
0 USD
CY2018Q3 us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Continuing Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedContinuingOperationEarningsLossAllocationToParticipatingSecuritiesBasic
0 USD
CY2018Q3 us-gaap Undistributed Discontinued Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedDiscontinuedOperationEarningsLossAllocationToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Discontinued Operation Earnings Loss Allocation To Participating Securities Basic
UndistributedDiscontinuedOperationEarningsLossAllocationToParticipatingSecuritiesBasic
0 USD
CY2017Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
54000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
357000000 USD
us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
-64000000 USD
us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
5000000 USD
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
2000000 USD
CY2017Q3 us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
774000000 USD
us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
2215000000 USD
CY2018Q3 us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
876000000 USD
us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
2393000000 USD
CY2017Q3 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
238000000 USD
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
703000000 USD
CY2018Q3 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
252000000 USD
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
746000000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
446000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
445000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
505000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
487000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
444000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
444000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
503000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
485000000 shares

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