2019 Q1 Form 10-Q Financial Statement

#000079835419000009 Filed on May 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $1.502B $1.440B
YoY Change 4.31% 3.3%
Cost Of Revenue $624.0M $568.0M
YoY Change 9.86% -0.35%
Gross Profit $878.0M $872.0M
YoY Change 0.69% 5.83%
Gross Profit Margin 58.46% 60.56%
Selling, General & Admin $341.0M $305.0M
YoY Change 11.8% 10.11%
% of Gross Profit 38.84% 34.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $145.0M $134.0M
YoY Change 8.21% 26.42%
% of Gross Profit 16.51% 15.37%
Operating Expenses $341.0M $305.0M
YoY Change 11.8% 10.11%
Operating Profit $373.0M $608.0M
YoY Change -38.65% 66.58%
Interest Expense $59.00M $45.00M
YoY Change 31.11% 7.14%
% of Operating Profit 15.82% 7.4%
Other Income/Expense, Net $3.000M $0.00
YoY Change
Pretax Income $258.0M $563.0M
YoY Change -54.17% 74.3%
Income Tax $31.00M $140.0M
% Of Pretax Income 12.02% 24.87%
Net Earnings $225.0M $423.0M
YoY Change -46.81% 71.26%
Net Earnings / Revenue 14.98% 29.38%
Basic Earnings Per Share $0.58 $1.02
Diluted Earnings Per Share $0.56 $1.00
COMMON SHARES
Basic Shares Outstanding 391.7M shares 413.1M shares
Diluted Shares Outstanding 399.1M shares 421.6M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $452.0M $382.0M
YoY Change 18.32% 24.03%
Cash & Equivalents $452.0M $382.0M
Short-Term Investments
Other Short-Term Assets $779.0M $508.0M
YoY Change 53.35% 13.9%
Inventory
Prepaid Expenses
Receivables $1.044B $878.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.275B $1.768B
YoY Change 28.68% 9.47%
LONG-TERM ASSETS
Property, Plant & Equipment $409.0M $375.0M
YoY Change 9.07% -6.25%
Goodwill $5.703B $5.454B
YoY Change 4.57% 0.41%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $737.0M $314.0M
YoY Change 134.71% -23.6%
Total Long-Term Assets $9.401B $8.399B
YoY Change 11.93% 3.94%
TOTAL ASSETS
Total Short-Term Assets $2.275B $1.768B
Total Long-Term Assets $9.401B $8.399B
Total Assets $11.68B $10.17B
YoY Change 14.84% 4.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $98.00M $81.00M
YoY Change 20.99% -2.41%
Accrued Expenses $959.0M $722.0M
YoY Change 32.83% 25.78%
Deferred Revenue $395.0M $379.0M
YoY Change 4.22%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.000M $1.000M
YoY Change 600.0% -98.9%
Total Short-Term Liabilities $2.120B $1.683B
YoY Change 25.97% -5.98%
LONG-TERM LIABILITIES
Long-Term Debt $5.868B $4.603B
YoY Change 27.48% 1.23%
Other Long-Term Liabilities $446.0M $152.0M
YoY Change 193.42% -9.52%
Total Long-Term Liabilities $446.0M $152.0M
YoY Change 193.42% -9.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.120B $1.683B
Total Long-Term Liabilities $446.0M $152.0M
Total Liabilities $9.282B $7.196B
YoY Change 28.99% -1.05%
SHAREHOLDERS EQUITY
Retained Earnings $11.86B $10.87B
YoY Change 9.1% 17.64%
Common Stock $1.042B $1.013B
YoY Change 2.86% 1.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.42B $8.857B
YoY Change 17.68% 14.24%
Treasury Stock Shares 399.1M shares 380.4M shares
Shareholders Equity $2.394B $2.971B
YoY Change
Total Liabilities & Shareholders Equity $11.68B $10.17B
YoY Change 14.84% 4.86%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $225.0M $423.0M
YoY Change -46.81% 71.26%
Depreciation, Depletion And Amortization $145.0M $134.0M
YoY Change 8.21% 26.42%
Cash From Operating Activities $373.0M $372.0M
YoY Change 0.27% -19.65%
INVESTING ACTIVITIES
Capital Expenditures $98.00M $77.00M
YoY Change 27.27% 1.32%
Acquisitions -$56.00M
YoY Change
Other Investing Activities -$6.000M $10.00M
YoY Change -160.0%
Cash From Investing Activities -$36.00M $381.0M
YoY Change -109.45% -347.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $806.0M
YoY Change 54.41%
Cash From Financing Activities -$300.0M -696.0M
YoY Change -56.9% 131.23%
NET CHANGE
Cash From Operating Activities $373.0M 372.0M
Cash From Investing Activities -$36.00M 381.0M
Cash From Financing Activities -$300.0M -696.0M
Net Change In Cash $37.00M 57.00M
YoY Change -35.09% 612.5%
FREE CASH FLOW
Cash From Operating Activities $373.0M $372.0M
Capital Expenditures $98.00M $77.00M
Free Cash Flow $275.0M $295.0M
YoY Change -6.78% -23.77%

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CY2019Q1 us-gaap Nonoperating Income Expense
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CY2019Q1 us-gaap Operating Income Loss
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OperatingLeaseWeightedAverageDiscountRatePercent
0.035
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term
OperatingLeaseWeightedAverageRemainingLeaseTerm
P6Y
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430000000 USD
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40000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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51000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2019Q1 us-gaap Other Accrued Liabilities Current
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0 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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4000000 USD
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CY2019Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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0 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2018Q1 us-gaap Other Depreciation And Amortization
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CY2019Q1 us-gaap Other Depreciation And Amortization
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CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
170000000 USD
CY2019Q1 us-gaap Other Liabilities Noncurrent
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446000000 USD
CY2018Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
0 USD
CY2019Q1 us-gaap Other Operating Activities Cash Flow Statement
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CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
10000000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2018Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2019Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
56000000 USD
CY2018Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
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CY2018Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1000000 USD
CY2019Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
77000000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
98000000 USD
CY2018Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2019Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
760000000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
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CY2018Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
419000000 USD
CY2019Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
509000000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
587000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
28000000 USD
CY2019Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
32000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
398000000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
409000000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
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806000000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
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680000000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
11635000000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
11860000000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1440000000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1502000000 USD
CY2018Q1 us-gaap Revenues
Revenues
1440000000 USD
CY2019Q1 us-gaap Revenues
Revenues
1502000000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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9000000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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24000000 USD
CY2018Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
202000000 USD
CY2019Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
209000000 USD
CY2018Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1238000000 USD
CY2019Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1293000000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
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305000000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
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341000000 USD
CY2018Q4 us-gaap Settlement Liabilities Current
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480000000 USD
CY2019Q1 us-gaap Settlement Liabilities Current
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498000000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
19000000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
19000000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
2971000000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
2293000000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
2394000000 USD
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
398900000 shares
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
399100000 shares
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10340000000 USD
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
10423000000 USD
CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
398000000 USD
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
120000000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
13000000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
8500000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
7400000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
421600000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
399100000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
413100000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
391700000 shares

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