2017 Q3 Form 10-Q Financial Statement

#000003778517000067 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $646.2M $628.8M
YoY Change 2.77% -24.3%
Cost Of Revenue $380.3M $414.2M
YoY Change -8.18% -32.14%
Gross Profit $223.6M $214.6M
YoY Change 4.19% -2.59%
Gross Profit Margin 34.6% 34.13%
Selling, General & Admin $154.5M $99.90M
YoY Change 54.65% -27.08%
% of Gross Profit 69.1% 46.55%
Research & Development $30.20M $30.60M
YoY Change -1.31% -17.74%
% of Gross Profit 13.51% 14.26%
Depreciation & Amortization $25.10M $25.60M
YoY Change -1.95% -32.63%
% of Gross Profit 11.23% 11.93%
Operating Expenses $184.7M $130.5M
YoY Change 41.53% -25.09%
Operating Profit $37.10M $70.00M
YoY Change -47.0% 13900.0%
Interest Expense -$18.40M -$15.00M
YoY Change 22.67% -25.74%
% of Operating Profit -49.6% -21.43%
Other Income/Expense, Net $3.600M -$200.0K
YoY Change -1900.0% -100.75%
Pretax Income $59.30M $55.00M
YoY Change 7.82% -379.19%
Income Tax -$11.60M $6.500M
% Of Pretax Income -19.56% 11.82%
Net Earnings $55.20M $79.70M
YoY Change -30.74% -3420.83%
Net Earnings / Revenue 8.54% 12.67%
Basic Earnings Per Share $0.41 $0.59
Diluted Earnings Per Share $0.41 $0.59
COMMON SHARES
Basic Shares Outstanding 134.4M shares 134.0M shares
Diluted Shares Outstanding 135.9M shares 134.7M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $94.00M $131.0M
YoY Change -28.24% -24.71%
Cash & Equivalents $93.80M $130.7M
Short-Term Investments
Other Short-Term Assets $1.408B $252.0M
YoY Change 458.73% -46.27%
Inventory $614.8M $817.4M
Prepaid Expenses
Receivables $1.458B $1.603B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.574B $2.804B
YoY Change 27.46% -13.4%
LONG-TERM ASSETS
Property, Plant & Equipment $547.0M $1.031B
YoY Change -46.94% -4.78%
Goodwill $500.3M $798.6M
YoY Change -37.35% 8.88%
Intangibles $776.6M $849.2M
YoY Change -8.55% 0.18%
Long-Term Investments $1.000M $1.000M
YoY Change 0.0% -75.0%
Other Assets $418.5M $457.2M
YoY Change -8.46% 37.26%
Total Long-Term Assets $2.483B $3.406B
YoY Change -27.1% 6.13%
TOTAL ASSETS
Total Short-Term Assets $3.574B $2.804B
Total Long-Term Assets $2.483B $3.406B
Total Assets $6.057B $6.210B
YoY Change -2.46% -3.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $437.7M $371.6M
YoY Change 17.79% -23.25%
Accrued Expenses $288.2M $331.9M
YoY Change -13.17% -4.98%
Deferred Revenue
YoY Change
Short-Term Debt $108.5M $60.80M
YoY Change 78.45% -49.25%
Long-Term Debt Due $105.7M $2.400M
YoY Change 4304.17% 71.43%
Total Short-Term Liabilities $1.631B $1.309B
YoY Change 24.59% -10.05%
LONG-TERM LIABILITIES
Long-Term Debt $1.493B $1.913B
YoY Change -21.97% -6.6%
Other Long-Term Liabilities $274.9M $301.5M
YoY Change -8.82% 41.48%
Total Long-Term Liabilities $1.768B $2.215B
YoY Change -20.18% -2.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.631B $1.309B
Total Long-Term Liabilities $1.768B $2.215B
Total Liabilities $3.398B $3.524B
YoY Change -3.55% -5.19%
SHAREHOLDERS EQUITY
Retained Earnings $3.445B $3.512B
YoY Change -1.91% -2.75%
Common Stock $464.1M $450.4M
YoY Change 3.04% 3.78%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.500B $1.496B
YoY Change 0.23% -0.16%
Treasury Stock Shares 51.72M shares 52.14M shares
Shareholders Equity $2.120B $2.084B
YoY Change
Total Liabilities & Shareholders Equity $6.057B $6.210B
YoY Change -2.46% -3.68%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $55.20M $79.70M
YoY Change -30.74% -3420.83%
Depreciation, Depletion And Amortization $25.10M $25.60M
YoY Change -1.95% -32.63%
Cash From Operating Activities $59.40M $163.6M
YoY Change -63.69% -218.64%
INVESTING ACTIVITIES
Capital Expenditures -$16.40M -$34.50M
YoY Change -52.46% 55.41%
Acquisitions
YoY Change
Other Investing Activities $30.60M -$3.000M
YoY Change -1120.0% -111.9%
Cash From Investing Activities $14.20M -$37.50M
YoY Change -137.87% -1350.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -94.50M -89.30M
YoY Change 5.82% -46.17%
NET CHANGE
Cash From Operating Activities 59.40M 163.6M
Cash From Investing Activities 14.20M -37.50M
Cash From Financing Activities -94.50M -89.30M
Net Change In Cash -20.90M 36.80M
YoY Change -156.79% -112.23%
FREE CASH FLOW
Cash From Operating Activities $59.40M $163.6M
Capital Expenditures -$16.40M -$34.50M
Free Cash Flow $75.80M $198.1M
YoY Change -61.74% -271.22%

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CY2017Q3 us-gaap Inventory Net
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CY2017Q3 us-gaap Inventory Work In Process Net Of Reserves
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CY2017Q3 us-gaap Liabilities And Stockholders Equity
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67700000 USD
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0 USD
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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18100000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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50300000 USD
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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0 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
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100000 USD
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us-gaap Payments To Minority Shareholders
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us-gaap Pension And Other Postretirement Benefit Contributions
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CY2017Q3 us-gaap Preferred Stock Shares Authorized
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CY2017Q3 us-gaap Preferred Stock Value
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Profit Loss
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CY2017Q3 us-gaap Profit Loss
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55800000 USD
us-gaap Profit Loss
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us-gaap Provision For Doubtful Accounts
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
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us-gaap Restructuring Charges
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14700000 USD
CY2017Q3 us-gaap Restructuring Charges
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4400000 USD
us-gaap Restructuring Charges
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7100000 USD
CY2016Q4 us-gaap Restructuring Reserve
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15900000 USD
CY2017Q3 us-gaap Restructuring Reserve
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7300000 USD
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1400000 USD
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CY2016Q3 us-gaap Revenues
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us-gaap Revenues
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CY2017Q3 us-gaap Revenues
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us-gaap Revenues
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99900000 USD
us-gaap Selling General And Administrative Expense
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320600000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
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150900000 USD
us-gaap Selling General And Administrative Expense
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387000000 USD
CY2016Q3 us-gaap Severance Costs1
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3000000 USD
us-gaap Severance Costs1
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8100000 USD
CY2017Q3 us-gaap Severance Costs1
SeveranceCosts1
0 USD
us-gaap Severance Costs1
SeveranceCosts1
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
16300000 USD
CY2016Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
85500000 USD
CY2017Q3 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
100100000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
91800000 USD
CY2017Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
108500000 USD
CY2017Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
238800000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1800000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1957700000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
2120300000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1993000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2135200000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
52293686 shares
CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
51722010 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1506600000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1499800000 USD
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
725000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
601000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1576000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1324000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134698000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134491000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135947000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135508000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133973000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133890000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134371000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134184000 shares

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