2016 Q4 Form 10-Q Financial Statement

#000140807516000082 Filed on October 26, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $1.057B $1.104B $1.070B
YoY Change 3.15% 3.15% 1.9%
Cost Of Revenue $869.2M $912.4M $868.1M
YoY Change 7.06% 5.1% 2.42%
Gross Profit $188.1M $191.3M $201.9M
YoY Change -5.76% -5.25% -0.25%
Gross Profit Margin 17.79% 17.33% 18.87%
Selling, General & Admin $95.00M $78.90M $83.70M
YoY Change 5.67% -5.73% 0.12%
% of Gross Profit 50.51% 41.24% 41.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $75.20M $78.20M $73.50M
YoY Change 11.08% 6.39% 11.7%
% of Gross Profit 39.98% 40.88% 36.4%
Operating Expenses $96.10M $78.90M $83.70M
YoY Change 0.73% -5.73% 0.12%
Operating Profit $78.10M $105.1M $110.0M
YoY Change -23.13% -4.45% -2.05%
Interest Expense -$21.40M $20.00M $16.50M
YoY Change -13.36% 21.21% -19.12%
% of Operating Profit -27.4% 19.03% 15.0%
Other Income/Expense, Net
YoY Change
Pretax Income $56.60M $85.10M $93.50M
YoY Change -33.41% -8.98% 1.74%
Income Tax $21.90M $28.00M $33.60M
% Of Pretax Income 38.69% 32.9% 35.94%
Net Earnings $34.90M $57.80M $60.20M
YoY Change -38.99% -3.99% 13.58%
Net Earnings / Revenue 3.3% 5.24% 5.63%
Basic Earnings Per Share $0.11 $0.18 $0.18
Diluted Earnings Per Share $0.11 $0.18 $0.18
COMMON SHARES
Basic Shares Outstanding 317.6M shares 319.7M shares 329.7M shares
Diluted Shares Outstanding 320.4M shares 330.4M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.10M $45.70M $81.50M
YoY Change 7.65% -43.93% 47.64%
Cash & Equivalents $59.10M $45.70M $81.50M
Short-Term Investments
Other Short-Term Assets $46.10M $40.00M $35.30M
YoY Change 49.19% 13.31% 7.95%
Inventory $582.9M $591.9M $569.3M
Prepaid Expenses $34.10M
Receivables $363.3M $500.9M $483.2M
Other Receivables $63.50M $0.00 $0.00
Total Short-Term Assets $1.115B $1.179B $1.350B
YoY Change 4.51% -12.68% 3.89%
LONG-TERM ASSETS
Property, Plant & Equipment $1.752B $1.768B $1.553B
YoY Change 10.43% 13.79% 0.51%
Goodwill $1.260B $1.265B $1.159B
YoY Change 7.92% 9.19% 3.3%
Intangibles $445.3M $462.4M $379.7M
YoY Change 15.15% 21.78% -5.31%
Long-Term Investments
YoY Change
Other Assets $31.00M $48.70M $66.70M
YoY Change -35.95% -26.99% 4.87%
Total Long-Term Assets $3.489B $3.544B $3.158B
YoY Change 9.38% 12.2% 0.85%
TOTAL ASSETS
Total Short-Term Assets $1.115B $1.179B $1.350B
Total Long-Term Assets $3.489B $3.544B $3.158B
Total Assets $4.603B $4.722B $4.508B
YoY Change 8.16% 4.75% 1.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $466.5M $426.8M $411.6M
YoY Change 1.88% 3.69% -2.49%
Accrued Expenses $249.9M $241.1M $247.4M
YoY Change 22.5% -2.55% 14.43%
Deferred Revenue
YoY Change
Short-Term Debt $37.10M $0.00 $0.00
YoY Change 243.52%
Long-Term Debt Due $25.00M $64.10M $33.80M
YoY Change 0.0% 89.64% -50.29%
Total Short-Term Liabilities $779.8M $732.0M $692.8M
YoY Change 6.5% 5.66% -1.91%
LONG-TERM LIABILITIES
Long-Term Debt $2.089B $2.191B $1.960B
YoY Change 13.57% 11.76% -2.53%
Other Long-Term Liabilities $68.10M $72.60M $74.00M
YoY Change -1.73% -1.89% -71.06%
Total Long-Term Liabilities $2.157B $2.264B $2.034B
YoY Change 13.02% 11.26% -10.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $779.8M $732.0M $692.8M
Total Long-Term Liabilities $2.157B $2.264B $2.034B
Total Liabilities $2.936B $2.996B $2.727B
YoY Change 11.21% 9.84% -8.27%
SHAREHOLDERS EQUITY
Retained Earnings -$268.0M -$243.8M -$343.8M
YoY Change -17.99% -29.09% -30.46%
Common Stock $1.709B $1.731B $1.782B
YoY Change -3.5% -2.88% -0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.057B $1.108B $1.104B
YoY Change
Total Liabilities & Shareholders Equity $4.603B $4.722B $4.508B
YoY Change 8.16% 4.75% 1.74%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $34.90M $57.80M $60.20M
YoY Change -38.99% -3.99% 13.58%
Depreciation, Depletion And Amortization $75.20M $78.20M $73.50M
YoY Change 11.08% 6.39% 11.7%
Cash From Operating Activities $247.1M $147.3M $173.7M
YoY Change 3.74% -15.2% -2.2%
INVESTING ACTIVITIES
Capital Expenditures -$36.20M -$72.40M -$54.70M
YoY Change -41.99% 32.36% 28.71%
Acquisitions
YoY Change
Other Investing Activities -$1.900M -$4.300M -$3.500M
YoY Change -95.61% 22.86% 25.0%
Cash From Investing Activities -$38.10M -$76.70M -$58.20M
YoY Change -63.95% 31.79% 28.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -193.2M -63.40M -79.30M
YoY Change 22.05% -20.05% -65.58%
NET CHANGE
Cash From Operating Activities 247.1M 147.3M 173.7M
Cash From Investing Activities -38.10M -76.70M -58.20M
Cash From Financing Activities -193.2M -63.40M -79.30M
Net Change In Cash 15.80M 7.200M 36.20M
YoY Change -161.24% -80.11% -136.9%
FREE CASH FLOW
Cash From Operating Activities $247.1M $147.3M $173.7M
Capital Expenditures -$36.20M -$72.40M -$54.70M
Free Cash Flow $283.3M $219.7M $228.4M
YoY Change -5.76% -3.81% 3.77%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:100%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, the preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from those estimates and changes in these estimates are recorded when known.</font></div></div>

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