2013 Q4 Form 10-Q Financial Statement

#000119312514445397 Filed on December 17, 2014

View on sec.gov

Income Statement

Concept 2013 Q4
Revenue $4.876B
YoY Change -0.12%
Cost Of Revenue $3.114B
YoY Change -0.81%
Gross Profit $1.762B
YoY Change 1.11%
Gross Profit Margin 36.13%
Selling, General & Admin $890.0M
YoY Change -2.26%
% of Gross Profit 50.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $146.6M
YoY Change -0.2%
% of Gross Profit 8.32%
Operating Expenses $890.0M
YoY Change -2.26%
Operating Profit $870.1M
YoY Change 4.96%
Interest Expense $68.70M
YoY Change -9.01%
% of Operating Profit 7.9%
Other Income/Expense, Net
YoY Change
Pretax Income $801.4M
YoY Change 6.36%
Income Tax $266.7M
% Of Pretax Income 33.28%
Net Earnings $549.9M
YoY Change 1.53%
Net Earnings / Revenue 11.28%
Basic Earnings Per Share $0.87
Diluted Earnings Per Share $0.84
COMMON SHARES
Basic Shares Outstanding 633.2M shares
Diluted Shares Outstanding 650.0M shares

Balance Sheet

Concept 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $774.0M
YoY Change 5.31%
Cash & Equivalents $774.0M
Short-Term Investments
Other Short-Term Assets $524.0M
YoY Change 35.4%
Inventory $1.752B
Prepaid Expenses
Receivables $1.726B
Other Receivables $0.00
Total Short-Term Assets $4.776B
YoY Change 4.61%
LONG-TERM ASSETS
Property, Plant & Equipment $3.809B
YoY Change -0.13%
Goodwill $8.647B
YoY Change 0.49%
Intangibles $5.020B
YoY Change -0.11%
Long-Term Investments $169.0M
YoY Change
Other Assets $900.4M
YoY Change -4.55%
Total Long-Term Assets $18.38B
YoY Change -0.06%
TOTAL ASSETS
Total Short-Term Assets $4.776B
Total Long-Term Assets $18.38B
Total Assets $23.15B
YoY Change 0.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.424B
YoY Change 14.39%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.051B
YoY Change -45.81%
Long-Term Debt Due $852.8M
YoY Change 3.9%
Total Short-Term Liabilities $4.990B
YoY Change -13.01%
LONG-TERM LIABILITIES
Long-Term Debt $6.741B
YoY Change 20.98%
Other Long-Term Liabilities $1.874B
YoY Change -13.96%
Total Long-Term Liabilities $1.874B
YoY Change -75.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.990B
Total Long-Term Liabilities $1.874B
Total Liabilities $15.06B
YoY Change 2.87%
SHAREHOLDERS EQUITY
Retained Earnings $11.47B
YoY Change 8.02%
Common Stock $1.240B
YoY Change -7.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.465B
YoY Change 32.7%
Treasury Stock Shares 128.2M shares
Shareholders Equity $6.633B
YoY Change
Total Liabilities & Shareholders Equity $23.15B
YoY Change 0.87%

Cashflow Statement

Concept 2013 Q4
OPERATING ACTIVITIES
Net Income $549.9M
YoY Change 1.53%
Depreciation, Depletion And Amortization $146.6M
YoY Change -0.2%
Cash From Operating Activities $627.8M
YoY Change -24.21%
INVESTING ACTIVITIES
Capital Expenditures -$145.0M
YoY Change 17.41%
Acquisitions
YoY Change
Other Investing Activities -$59.20M
YoY Change -92.83%
Cash From Investing Activities -$204.2M
YoY Change -78.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -416.9M
YoY Change -36.75%
NET CHANGE
Cash From Operating Activities 627.8M
Cash From Investing Activities -204.2M
Cash From Financing Activities -416.9M
Net Change In Cash 6.700M
YoY Change -100.86%
FREE CASH FLOW
Cash From Operating Activities $627.8M
Capital Expenditures -$145.0M
Free Cash Flow $772.8M
YoY Change -18.81%

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191300000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
3200000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
2900000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-38800000 USD
CY2014Q4 gis Accumulated Other Comprehensive Income Loss Net Actuarial Gain Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetActuarialGainLossNetOfTax
-1423800000 USD
CY2014Q2 gis Accumulated Other Comprehensive Income Loss Net Actuarial Gain Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetActuarialGainLossNetOfTax
-1469200000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
18900000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
26500000 USD
CY2014Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22100000 USD
CY2013Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27800000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
67700000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
69100000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
40100000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
71000000 USD
us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
27500000 USD
us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
35900000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
We estimate the fair value of each option on the grant date using a Black-Scholes option-pricing model. Black-Scholes option-pricing models require us to make predictive assumptions regarding future stock price volatility, employee exercise behavior, and dividend yield. We estimate our future stock price volatility using the historical volatility over the expected term of the option, excluding time periods of volatility we believe a marketplace participant would exclude in estimating our stock price volatility. We also have considered, but did not use, implied volatility in our estimate, because trading activity in options on our stock, especially those with tenors of greater than 6 months, is insufficient to provide a reliable measure of expected volatility. Our method of selecting the other valuation assumptions is explained in Note 11 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 25, 2014.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.026 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.026 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.174 pure
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
44169000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
2253100 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
32.10
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
43.79
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
44550100 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
32407500 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
33.44
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
29.83
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
824500000 USD
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
713500000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y7M17D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y4M20D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
53.70
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
26.16
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1850400 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
21600 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
99000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
96400000 USD
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
139800000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P27M
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
602600000 shares
CY2014Q4 gis Amount Of Dilutive Securities Restricted Stock Units
AmountOfDilutiveSecuritiesRestrictedStockUnits
4500000 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
633200000 shares
CY2013Q4 gis Amount Of Dilutive Securities Restricted Stock Units
AmountOfDilutiveSecuritiesRestrictedStockUnits
4600000 shares
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
618400000 shares
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
650000000 shares
CY2014Q4 gis Amount Of Dilutive Securities Stock Options
AmountOfDilutiveSecuritiesStockOptions
11300000 shares
CY2013Q4 gis Amount Of Dilutive Securities Stock Options
AmountOfDilutiveSecuritiesStockOptions
12200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
607600000 shares
gis Amount Of Dilutive Securities Stock Options
AmountOfDilutiveSecuritiesStockOptions
11700000 shares
gis Amount Of Dilutive Securities Restricted Stock Units
AmountOfDilutiveSecuritiesRestrictedStockUnits
4500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
623800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
638100000 shares
gis Amount Of Dilutive Securities Stock Options
AmountOfDilutiveSecuritiesStockOptions
12500000 shares
gis Amount Of Dilutive Securities Restricted Stock Units
AmountOfDilutiveSecuritiesRestrictedStockUnits
4500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
655100000 shares
CY2014Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2400000 shares
CY2013Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3400000 shares
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2013Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
11500000 shares
CY2014Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
9800000 shares
CY2013Q4 gis Treasury Stock Aggregate Value Acquired
TreasuryStockAggregateValueAcquired
565700000 USD
CY2014Q4 gis Treasury Stock Aggregate Value Acquired
TreasuryStockAggregateValueAcquired
506300000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
18000000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
18600000 shares
gis Treasury Stock Aggregate Value Acquired
TreasuryStockAggregateValueAcquired
968800000 USD
gis Treasury Stock Aggregate Value Acquired
TreasuryStockAggregateValueAcquired
893000000 USD
us-gaap Interest Paid Net
InterestPaidNet
152200000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
378200000 USD
us-gaap Interest Paid Net
InterestPaidNet
157500000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
353100000 USD

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