2019 Q2 Form 10-Q Financial Statement

#000079835419000019 Filed on July 26, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q2
Revenue $1.512B $1.502B $1.420B
YoY Change 6.48% 4.31% 2.45%
Cost Of Revenue $785.0M $624.0M $560.0M
YoY Change 40.18% 9.86% -2.27%
Gross Profit $727.0M $878.0M $860.0M
YoY Change -15.47% 0.69% 5.78%
Gross Profit Margin 48.08% 58.46% 60.56%
Selling, General & Admin $343.0M $341.0M $320.0M
YoY Change 7.19% 11.8% 15.94%
% of Gross Profit 47.18% 38.84% 37.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $146.0M $145.0M $130.0M
YoY Change 12.31% 8.21% 19.27%
% of Gross Profit 20.08% 16.51% 15.12%
Operating Expenses $343.0M $341.0M $320.0M
YoY Change 7.19% 11.8% 15.94%
Operating Profit $384.0M $373.0M $358.0M
YoY Change 7.26% -38.65% -3.76%
Interest Expense $64.00M $59.00M $45.00M
YoY Change 42.22% 31.11% 2.27%
% of Operating Profit 16.67% 15.82% 12.57%
Other Income/Expense, Net $8.000M $3.000M $3.000M
YoY Change 166.67% 50.0%
Pretax Income $291.0M $258.0M $316.0M
YoY Change -7.91% -54.17% -4.24%
Income Tax $60.00M $31.00M $72.00M
% Of Pretax Income 20.62% 12.02% 22.78%
Net Earnings $223.0M $225.0M $251.0M
YoY Change -11.16% -46.81% 13.57%
Net Earnings / Revenue 14.75% 14.98% 17.68%
Basic Earnings Per Share $0.57 $0.58 $0.61
Diluted Earnings Per Share $0.56 $0.56 $0.60
COMMON SHARES
Basic Shares Outstanding 392.5M shares 391.7M shares 408.4M shares
Diluted Shares Outstanding 399.6M shares 399.1M shares 416.4M shares

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.441B $452.0M $348.0M
YoY Change 2325.57% 18.32% 16.39%
Cash & Equivalents $8.441B $452.0M $348.0M
Short-Term Investments
Other Short-Term Assets $779.0M $779.0M $524.0M
YoY Change 48.66% 53.35% 7.38%
Inventory
Prepaid Expenses
Receivables $989.0M $1.044B $932.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.21B $2.275B $1.804B
YoY Change 465.91% 28.68% 10.54%
LONG-TERM ASSETS
Property, Plant & Equipment $418.0M $409.0M $374.0M
YoY Change 11.76% 9.07% -5.56%
Goodwill $5.702B $5.703B $5.456B
YoY Change 4.51% 4.57% 0.39%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $764.0M $737.0M $353.0M
YoY Change 116.43% 134.71% -14.94%
Total Long-Term Assets $9.431B $9.401B $8.414B
YoY Change 12.09% 11.93% 4.48%
TOTAL ASSETS
Total Short-Term Assets $10.21B $2.275B $1.804B
Total Long-Term Assets $9.431B $9.401B $8.414B
Total Assets $19.64B $11.68B $10.22B
YoY Change 92.21% 14.84% 5.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.0M $98.00M $95.00M
YoY Change 12.63% 20.99% 11.76%
Accrued Expenses $907.0M $959.0M $686.0M
YoY Change 32.22% 32.83% 11.36%
Deferred Revenue $360.0M $395.0M $352.0M
YoY Change 2.27% 4.22%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.000M $7.000M $1.000M
YoY Change 800.0% 600.0% -98.95%
Total Short-Term Liabilities $2.054B $2.120B $1.655B
YoY Change 24.11% 25.97% -3.05%
LONG-TERM LIABILITIES
Long-Term Debt $13.75B $5.868B $4.805B
YoY Change 186.1% 27.48% 3.42%
Other Long-Term Liabilities $474.0M $446.0M $145.0M
YoY Change 226.9% 193.42% -13.69%
Total Long-Term Liabilities $474.0M $446.0M $145.0M
YoY Change 226.9% 193.42% -13.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.054B $2.120B $1.655B
Total Long-Term Liabilities $474.0M $446.0M $145.0M
Total Liabilities $17.09B $9.282B $7.368B
YoY Change 132.0% 28.99% 1.01%
SHAREHOLDERS EQUITY
Retained Earnings $12.08B $11.86B $11.12B
YoY Change 8.64% 9.1% 17.54%
Common Stock $1.064B $1.042B $1.031B
YoY Change 3.2% 2.86% 0.98%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.41B $10.42B $9.237B
YoY Change 12.68% 17.68% 14.99%
Treasury Stock Shares 399.1M shares 399.1M shares 385.3M shares
Shareholders Equity $2.546B $2.394B $2.850B
YoY Change
Total Liabilities & Shareholders Equity $19.64B $11.68B $10.22B
YoY Change 92.21% 14.84% 5.5%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q2
OPERATING ACTIVITIES
Net Income $223.0M $225.0M $251.0M
YoY Change -11.16% -46.81% 13.57%
Depreciation, Depletion And Amortization $146.0M $145.0M $130.0M
YoY Change 12.31% 8.21% 19.27%
Cash From Operating Activities $206.0M $373.0M $241.0M
YoY Change -14.52% 0.27% 5.7%
INVESTING ACTIVITIES
Capital Expenditures -$112.0M $98.00M -$92.00M
YoY Change 21.74% 27.27% 53.33%
Acquisitions -$56.00M
YoY Change
Other Investing Activities $12.00M -$6.000M -$10.00M
YoY Change -220.0% -160.0% -150.0%
Cash From Investing Activities -$100.0M -$36.00M -$102.0M
YoY Change -1.96% -109.45% 155.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.883B -$300.0M -173.0M
YoY Change -4656.65% -56.9% -12.18%
NET CHANGE
Cash From Operating Activities 206.0M $373.0M 241.0M
Cash From Investing Activities -100.0M -$36.00M -102.0M
Cash From Financing Activities 7.883B -$300.0M -173.0M
Net Change In Cash 7.989B $37.00M -34.00M
YoY Change -23597.06% -35.09% 277.78%
FREE CASH FLOW
Cash From Operating Activities $206.0M $373.0M $241.0M
Capital Expenditures -$112.0M $98.00M -$92.00M
Free Cash Flow $318.0M $275.0M $333.0M
YoY Change -4.5% -6.78% 15.63%

Facts In Submission

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CY2018Q4 us-gaap Liabilities And Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Other Depreciation And Amortization
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184000000 USD
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89000000 USD
fisv Amortizationof Acquisition Related Intangible Assets
AmortizationofAcquisitionRelatedIntangibleAssets
80000000 USD
fisv Amortization Of Debt Issuance Costs Discounts And Other
AmortizationOfDebtIssuanceCostsDiscountsAndOther
105000000 USD
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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36000000 USD
us-gaap Deferred Income Tax Expense Benefit
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12000000 USD
us-gaap Deferred Income Tax Expense Benefit
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80000000 USD
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10000000 USD
us-gaap Gain Loss On Sale Of Business
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229000000 USD
us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Unrealized Gain Loss On Derivatives
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11000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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62000000 USD
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us-gaap Payments To Acquire Property Plant And Equipment
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210000000 USD
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169000000 USD
us-gaap Proceeds From Divestiture Of Businesses
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10000000 USD
us-gaap Proceeds From Divestiture Of Businesses
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54000000 USD
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us-gaap Payments Of Financing Costs
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164000000 USD
us-gaap Payments Of Financing Costs
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us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Proceeds From Issuance Or Sale Of Equity
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fisv Payments For Repurchase Of Common Stock And Payments Related To Tax Withholding For Share Based Compensation
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185000000 USD
fisv Payments For Repurchase Of Common Stock And Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Continuing Operations
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43000000 USD
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415000000 USD
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us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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50000000 USD
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43000000 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2860000000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net
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204000000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net
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us-gaap Contract With Customer Liability Revenue Recognized
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248000000 USD
us-gaap Discontinued Operation Tax Effect Of Income Loss From Discontinued Operation During Phase Out Period
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7000000 USD
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7000000 USD
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15000000 USD
us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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392500000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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408400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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7300000 shares
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1200000 shares
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133000000 USD
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199000000 USD
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CY2019Q2 us-gaap Finance Lease Right Of Use Asset
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CY2019Q2 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Lease Cost
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us-gaap Variable Lease Cost
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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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P6Y
CY2019Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2019Q2 us-gaap Operating Lease Liability
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CY2019Q2 us-gaap Finance Lease Liability
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CY2019Q2 fisv Lessee Operating Lease Liability Option To Extend
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CY2019Q2 fisv Lessee Operating Lease Liability Lease Not Yet Commenced
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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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 In Three Years
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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 Five Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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5000000 USD
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183000000 USD
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us-gaap Interest Paid
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us-gaap Interest Paid
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us-gaap Income Taxes Paid Net
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fisv Treasury Stock Purchases Settled After Balance Sheet Date
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CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q2 us-gaap Operating Income Loss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2860000000 USD
us-gaap Operating Income Loss
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966000000 USD

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