2018 Q1 Form 10-Q Financial Statement

#000003778518000040 Filed on May 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $1.108B $596.0M
YoY Change 85.89% -1.72%
Cost Of Revenue $605.4M $379.8M
YoY Change 59.4% -2.72%
Gross Profit $502.5M $189.2M
YoY Change 165.59% -12.41%
Gross Profit Margin 45.36% 31.74%
Selling, General & Admin $192.5M $114.3M
YoY Change 68.42% 3.81%
% of Gross Profit 38.31% 60.41%
Research & Development $64.90M $28.20M
YoY Change 130.14% -17.54%
% of Gross Profit 12.92% 14.9%
Depreciation & Amortization $34.80M $23.60M
YoY Change 47.46% -5.22%
% of Gross Profit 6.93% 12.47%
Operating Expenses $257.4M $142.5M
YoY Change 80.63% -1.25%
Operating Profit $325.0M $43.60M
YoY Change 645.41% -29.9%
Interest Expense -$33.80M -$15.60M
YoY Change 116.67% -1.27%
% of Operating Profit -10.4% -35.78%
Other Income/Expense, Net -$500.0K -$1.400M
YoY Change -64.29% -132.56%
Pretax Income $290.7M $54.40M
YoY Change 434.38% 17.24%
Income Tax $60.50M $9.400M
% Of Pretax Income 20.81% 17.28%
Net Earnings $267.2M -$124.2M
YoY Change -315.14% -357.14%
Net Earnings / Revenue 24.12% -20.84%
Basic Earnings Per Share $1.98 -$0.93
Diluted Earnings Per Share $1.96 -$0.92
COMMON SHARES
Basic Shares Outstanding 134.6M shares 134.0M shares
Diluted Shares Outstanding 136.2M shares 135.1M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $360.0M $96.00M
YoY Change 275.0% 50.0%
Cash & Equivalents $359.7M $96.10M
Short-Term Investments
Other Short-Term Assets $542.0M $1.301B
YoY Change -58.34% 387.27%
Inventory $1.035B $526.4M
Prepaid Expenses
Receivables $2.400B $1.631B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.336B $3.554B
YoY Change 21.99% 20.27%
LONG-TERM ASSETS
Property, Plant & Equipment $1.030B $535.1M
YoY Change 92.56% -47.94%
Goodwill $1.243B $500.8M
YoY Change 148.16% -37.45%
Intangibles $2.805B $734.6M
YoY Change 281.87% -15.54%
Long-Term Investments $2.000M $1.000M
YoY Change 100.0% -66.67%
Other Assets $472.2M $475.2M
YoY Change -0.63% 5.25%
Total Long-Term Assets $5.814B $2.482B
YoY Change 134.22% -27.75%
TOTAL ASSETS
Total Short-Term Assets $4.336B $3.554B
Total Long-Term Assets $5.814B $2.482B
Total Assets $10.15B $6.036B
YoY Change 68.13% -5.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $914.1M $390.9M
YoY Change 133.84% -24.3%
Accrued Expenses $564.2M $258.0M
YoY Change 118.68% -18.79%
Deferred Revenue
YoY Change
Short-Term Debt $228.2M $214.9M
YoY Change 6.19% 91.19%
Long-Term Debt Due $100.7M $2.400M
YoY Change 4095.83% 33.33%
Total Short-Term Liabilities $2.686B $1.489B
YoY Change 80.41% 2.58%
LONG-TERM LIABILITIES
Long-Term Debt $2.993B $1.790B
YoY Change 67.18% -9.86%
Other Long-Term Liabilities $884.7M $312.4M
YoY Change 183.19% 3.07%
Total Long-Term Liabilities $3.878B $2.103B
YoY Change 84.42% -8.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.686B $1.489B
Total Long-Term Liabilities $3.878B $2.103B
Total Liabilities $6.564B $3.592B
YoY Change 82.76% -3.98%
SHAREHOLDERS EQUITY
Retained Earnings $4.197B $3.359B
YoY Change 24.95% -1.52%
Common Stock $475.8M $447.5M
YoY Change 6.32% 1.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.501B $1.504B
YoY Change -0.19% 0.41%
Treasury Stock Shares 51.47M shares 51.98M shares
Shareholders Equity $2.987B $1.877B
YoY Change
Total Liabilities & Shareholders Equity $10.15B $6.036B
YoY Change 68.13% -5.54%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $267.2M -$124.2M
YoY Change -315.14% -357.14%
Depreciation, Depletion And Amortization $34.80M $23.60M
YoY Change 47.46% -5.22%
Cash From Operating Activities -$78.40M -$34.90M
YoY Change 124.64% -134.9%
INVESTING ACTIVITIES
Capital Expenditures $14.80M $8.700M
YoY Change 70.11% -75.07%
Acquisitions -$13.20M $0.00
YoY Change
Other Investing Activities $2.400M $17.00M
YoY Change -85.88% 507.14%
Cash From Investing Activities $45.10M -$31.10M
YoY Change -245.02% -29.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $600.0K $700.0K
YoY Change -14.29% -98.61%
Cash From Financing Activities 113.9M 96.50M
YoY Change 18.03% -235.92%
NET CHANGE
Cash From Operating Activities -78.40M -34.90M
Cash From Investing Activities 45.10M -31.10M
Cash From Financing Activities 113.9M 96.50M
Net Change In Cash $76.70M 30.50M
YoY Change 151.48% -300.66%
FREE CASH FLOW
Cash From Operating Activities -$78.40M -$34.90M
Capital Expenditures $14.80M $8.700M
Free Cash Flow -$93.20M -$43.60M
YoY Change 113.76% -166.97%

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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-4900000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-3000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-2600000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-1600000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1100000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1500000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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-2100000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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-1000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
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718100000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
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6000000 USD
CY2018Q1 us-gaap Other Nonrecurring Income Expense
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0 USD
CY2018Q1 us-gaap Other Restructuring Costs
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3500000 USD
CY2017Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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200000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
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22300000 USD
CY2017Q1 us-gaap Payments Of Financing Costs
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8500000 USD
CY2018Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2018Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8700000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24300000 USD
CY2017Q1 us-gaap Payments To Minority Shareholders
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500000 USD
CY2018Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2017Q1 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
900000 USD
CY2018Q1 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2400000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
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CY2018Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
2300000 USD
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PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
5700000 USD
CY2018Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
5700000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
59300000 USD
CY2018Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
54400000 USD
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
326400000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
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CY2017Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0 USD
CY2018Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
85000000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
120100000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
138000000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
800000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
100000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
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CY2018Q1 us-gaap Profit Loss
ProfitLoss
269600000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1461100000 USD
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1490700000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1025200000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1030400000 USD
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8400000 USD
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6100000 USD
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
2043500000 USD
CY2018Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
2399700000 USD
CY2017Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-4400000 USD
CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-3400000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
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700000 USD
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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133966000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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134589000 shares
CY2018Q1 us-gaap Repayments Of Long Term Debt
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600000 USD
CY2017Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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28200000 USD
CY2018Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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65900000 USD
CY2017Q1 us-gaap Restructuring Charges
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0 USD
CY2018Q1 us-gaap Restructuring Charges
RestructuringCharges
4700000 USD
CY2017Q4 us-gaap Restructuring Reserve
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6500000 USD
CY2018Q1 us-gaap Restructuring Reserve
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4800000 USD
CY2018Q1 us-gaap Restructuring Reserve Translation Adjustment
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600000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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3952400000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
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4197300000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1210700000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
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28000000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
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62000000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
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49000000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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P9M
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P1Y
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P1Y
CY2017Q1 us-gaap Revenues
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596000000 USD
CY2018Q1 us-gaap Revenues
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1210700000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
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114300000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
200400000 USD
CY2018Q1 us-gaap Severance Costs1
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0 USD
CY2017Q1 us-gaap Share Based Compensation
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6300000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6300000 USD
CY2017Q4 us-gaap Short Term Bank Loans And Notes Payable
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91400000 USD
CY2018Q1 us-gaap Short Term Bank Loans And Notes Payable
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43800000 USD
CY2017Q4 us-gaap Short Term Borrowings
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91400000 USD
CY2018Q1 us-gaap Short Term Borrowings
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228200000 USD
CY2018Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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238800000 USD
CY2018Q1 us-gaap Stock Repurchased During Period Value
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5100000 USD
CY2017Q4 us-gaap Stockholders Equity
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CY2018Q1 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2707100000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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3014700000 USD
CY2017Q4 us-gaap Treasury Stock Shares
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CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
51469535 shares
CY2018Q1 us-gaap Treasury Stock Shares Acquired
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0 shares
CY2017Q4 us-gaap Treasury Stock Value
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1499600000 USD
CY2018Q1 us-gaap Treasury Stock Value
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1501000000 USD
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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1116000 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1568000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135082000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136157000 shares

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