2018 Q2 Form 10-Q Financial Statement

#000004053318000018 Filed on April 25, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $7.535B $7.441B
YoY Change 1.26% -0.47%
Cost Of Revenue $5.990B $5.923B
YoY Change 1.13% -2.76%
Gross Profit $1.545B $1.518B
YoY Change 1.78% 9.6%
Gross Profit Margin 20.5% 20.4%
Selling, General & Admin $537.0M $472.0M
YoY Change 13.77% 2.39%
% of Gross Profit 34.76% 31.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $89.00M $92.00M
YoY Change -3.26% 3.37%
% of Gross Profit 5.76% 6.06%
Operating Expenses $537.0M $472.0M
YoY Change 13.77% 2.39%
Operating Profit $1.008B $1.046B
YoY Change -3.63% 13.2%
Interest Expense -$27.00M -$25.00M
YoY Change 8.0% 13.64%
% of Operating Profit -2.68% -2.39%
Other Income/Expense, Net -$21.00M -$11.00M
YoY Change 90.91% -210.0%
Pretax Income $960.0M $1.010B
YoY Change -4.95% 10.75%
Income Tax $161.0M $247.0M
% Of Pretax Income 16.77% 24.46%
Net Earnings $799.0M $763.0M
YoY Change 4.72% 19.03%
Net Earnings / Revenue 10.6% 10.25%
Basic Earnings Per Share $2.53
Diluted Earnings Per Share $2.654M $2.48
COMMON SHARES
Basic Shares Outstanding 296.4M shares 301.8M shares
Diluted Shares Outstanding 301.1M shares 307.3M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.522B $2.168B
YoY Change 108.58% 13.69%
Cash & Equivalents $4.332B $2.168B
Short-Term Investments $190.0M
Other Short-Term Assets $955.0M $584.0M
YoY Change 63.53% 39.71%
Inventory $5.543B $5.822B
Prepaid Expenses
Receivables $3.769B $3.483B
Other Receivables $0.00 $0.00
Total Short-Term Assets $20.46B $16.61B
YoY Change 23.17% 17.1%
LONG-TERM ASSETS
Property, Plant & Equipment $3.533B $3.412B
YoY Change 3.55% -1.87%
Goodwill $11.96B $11.53B
YoY Change 3.67% -0.54%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $565.0M $974.0M
YoY Change -41.99% -42.13%
Total Long-Term Assets $16.76B $16.60B
YoY Change 0.95% -5.24%
TOTAL ASSETS
Total Short-Term Assets $20.46B $16.61B
Total Long-Term Assets $16.76B $16.60B
Total Assets $37.22B $33.21B
YoY Change 12.07% 4.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.851B $2.466B
YoY Change 15.61% 14.7%
Accrued Expenses $985.0M $973.0M
YoY Change 1.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.498B $901.0M
YoY Change 177.25% 79.84%
Total Short-Term Liabilities $15.24B $13.17B
YoY Change 15.78% 5.97%
LONG-TERM LIABILITIES
Long-Term Debt $3.981B $2.988B
YoY Change 33.23% 3.07%
Other Long-Term Liabilities $6.222B $6.475B
YoY Change -3.91% 11.68%
Total Long-Term Liabilities $10.20B $9.463B
YoY Change 7.82% 8.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.24B $13.17B
Total Long-Term Liabilities $10.20B $9.463B
Total Liabilities $25.45B $22.63B
YoY Change 12.45% 7.14%
SHAREHOLDERS EQUITY
Retained Earnings $27.61B $25.05B
YoY Change 10.2% 5.75%
Common Stock $482.0M $482.0M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.74B $14.45B
YoY Change 8.96% 7.93%
Treasury Stock Shares
Shareholders Equity $11.77B $10.58B
YoY Change
Total Liabilities & Shareholders Equity $37.22B $33.21B
YoY Change 12.07% 4.76%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $799.0M $763.0M
YoY Change 4.72% 19.03%
Depreciation, Depletion And Amortization $89.00M $92.00M
YoY Change -3.26% 3.37%
Cash From Operating Activities -$498.0M $525.0M
YoY Change -194.86% 19.59%
INVESTING ACTIVITIES
Capital Expenditures $104.0M $62.00M
YoY Change 67.74% -4.62%
Acquisitions
YoY Change
Other Investing Activities $1.000M $23.00M
YoY Change -95.65% -56.6%
Cash From Investing Activities -$105.0M -$85.00M
YoY Change 23.53% -27.97%
FINANCING ACTIVITIES
Cash Dividend Paid $250.0M $230.0M
YoY Change 8.7% 6.98%
Common Stock Issuance & Retirement, Net $267.0M $354.0M
YoY Change -24.58% -65.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.952B -606.0M
YoY Change -422.11% -49.2%
NET CHANGE
Cash From Operating Activities -498.0M 525.0M
Cash From Investing Activities -105.0M -85.00M
Cash From Financing Activities 1.952B -606.0M
Net Change In Cash 1.349B -166.0M
YoY Change -912.65% -80.96%
FREE CASH FLOW
Cash From Operating Activities -$498.0M $525.0M
Capital Expenditures $104.0M $62.00M
Free Cash Flow -$602.0M $463.0M
YoY Change -230.02% 23.8%

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