2015 Q1 Form 10-Q Financial Statement

#000035470715000031 Filed on May 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $637.9M $783.7M
YoY Change -18.61% 0.19%
Cost Of Revenue $568.4M $694.5M
YoY Change -18.16% -2.65%
Gross Profit $69.50M $89.20M
YoY Change -22.09% 29.65%
Gross Profit Margin 10.9% 11.38%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.87M $43.18M
YoY Change 6.22% 8.7%
% of Gross Profit 65.99% 48.41%
Operating Expenses $0.00 $0.00
YoY Change
Operating Profit $69.51M $89.21M
YoY Change -22.09% 29.62%
Interest Expense -$17.20M -$17.20M
YoY Change 0.0% 2.38%
% of Operating Profit -24.75% -19.28%
Other Income/Expense, Net
YoY Change
Pretax Income $52.30M $72.00M
YoY Change -27.36% 38.46%
Income Tax $19.98M $25.72M
% Of Pretax Income 38.2% 35.72%
Net Earnings $32.34M $46.26M
YoY Change -30.09% 35.45%
Net Earnings / Revenue 5.07% 5.9%
Basic Earnings Per Share $0.31 $0.45
Diluted Earnings Per Share $0.31 $0.45
COMMON SHARES
Basic Shares Outstanding 103.3M shares 101.4M shares
Diluted Shares Outstanding 103.6M shares 102.2M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $292.0M $269.0M
YoY Change 8.55% 2.28%
Cash & Equivalents $292.0M $269.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $255.0M $324.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $547.0M $593.0M
YoY Change -7.76% -2.95%
LONG-TERM ASSETS
Property, Plant & Equipment $4.191B $3.908B
YoY Change 7.23% 7.36%
Goodwill $82.19M $82.19M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $654.0M $604.0M
YoY Change 8.28% -20.0%
Other Assets
YoY Change
Total Long-Term Assets $10.73B $9.865B
YoY Change 8.73% 1.83%
TOTAL ASSETS
Total Short-Term Assets $547.0M $593.0M
Total Long-Term Assets $10.73B $9.865B
Total Assets $11.27B $10.46B
YoY Change 7.8% 1.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $168.0M $211.0M
YoY Change -20.38% -16.6%
Accrued Expenses $25.00M $29.00M
YoY Change -13.79% 11.54%
Deferred Revenue
YoY Change
Short-Term Debt $31.00M $136.0M
YoY Change -77.21% 1.49%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $224.0M $376.0M
YoY Change -40.43% -8.96%
LONG-TERM LIABILITIES
Long-Term Debt $1.819B $1.738B
YoY Change 4.66% 7.55%
Other Long-Term Liabilities $6.658B $6.027B
YoY Change 10.47% -2.29%
Total Long-Term Liabilities $8.477B $7.765B
YoY Change 9.17% -0.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $224.0M $376.0M
Total Long-Term Liabilities $8.477B $7.765B
Total Liabilities $9.341B $8.678B
YoY Change 7.64% 0.24%
SHAREHOLDERS EQUITY
Retained Earnings $296.7M $270.2M
YoY Change 9.81% 22.78%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.898B $1.745B
YoY Change
Total Liabilities & Shareholders Equity $11.27B $10.46B
YoY Change 7.8% 1.55%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $32.34M $46.26M
YoY Change -30.09% 35.45%
Depreciation, Depletion And Amortization $45.87M $43.18M
YoY Change 6.22% 8.7%
Cash From Operating Activities $138.6M $43.70M
YoY Change 217.16% -9.52%
INVESTING ACTIVITIES
Capital Expenditures $123.5M $65.83M
YoY Change 87.65% -7.34%
Acquisitions
YoY Change
Other Investing Activities -$3.549M $0.00
YoY Change -100.0%
Cash From Investing Activities -$152.0M -$98.50M
YoY Change 54.31% -12.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00 $0.00
YoY Change -100.0%
Cash From Financing Activities 130.1M 103.9M
YoY Change 25.22% -3.17%
NET CHANGE
Cash From Operating Activities 138.6M 43.70M
Cash From Investing Activities -152.0M -98.50M
Cash From Financing Activities 130.1M 103.9M
Net Change In Cash 116.7M 49.10M
YoY Change 137.68% 14.19%
FREE CASH FLOW
Cash From Operating Activities $138.6M $43.70M
Capital Expenditures $123.5M $65.83M
Free Cash Flow $15.07M -$22.13M
YoY Change -168.11% -2.69%

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CY2014Q4 us-gaap Commitments And Contingencies
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CY2015Q1 us-gaap Commitments And Contingencies
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200000000 shares
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200000000 shares
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CY2015Q1 us-gaap Common Stock Shares Outstanding
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1624549000 USD
CY2014Q1 us-gaap Comprehensive Income Net Of Tax
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46954000 USD
CY2015Q1 us-gaap Comprehensive Income Net Of Tax
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35924000 USD
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600000 USD
CY2014Q4 us-gaap Contributions In Aid Of Construction
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466432000 USD
CY2015Q1 us-gaap Contributions In Aid Of Construction
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CY2014Q1 us-gaap Costs And Expenses
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694535000 USD
CY2015Q1 us-gaap Costs And Expenses
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CY2014 us-gaap Defined Benefit Plan Benefits Paid
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2000000 USD
CY2015Q1 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
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2000000 USD
CY2014Q1 us-gaap Defined Contribution Plan Cost Recognized
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1100000 USD
CY2015Q1 us-gaap Defined Contribution Plan Cost Recognized
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1400000 USD
CY2014Q4 us-gaap Deposits
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4623415000 USD
CY2015Q1 us-gaap Deposits
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CY2014Q1 us-gaap Depreciation
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43181000 USD
CY2015Q1 us-gaap Depreciation
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45865000 USD
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286000 USD
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31448000 USD
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31840000 USD
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0.45
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0.31
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40000 USD
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40000 USD
CY2014Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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800000 USD
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164000 USD
CY2015Q1 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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164000 USD
CY2015Q1 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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35238000 USD
CY2015Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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40247000 USD
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5685000 USD
CY2015Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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5548000 USD
CY2014Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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769000 USD
CY2015Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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710000 USD
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CY2014Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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957000 USD
CY2015Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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1147000 USD
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CY2015Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
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4404548000 USD
CY2014Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
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55631000 USD
CY2015Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
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8993000 USD
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9112000 USD
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2711000 USD
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4033000 USD
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0 USD
CY2015Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
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36886000 USD
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35181000 USD
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CY2014Q4 us-gaap Goodwill
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CY2015Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
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409000 USD
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442000 USD
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144000 USD
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23167000 USD
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1825000 USD
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265000 USD
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29581000 USD
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1000000 USD
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105510000 USD
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0 USD
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286000 shares
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9341245000 USD
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11185142000 USD
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103895000 USD
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4058000 USD
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1715000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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0 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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1132000 USD
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1167000 USD
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4058000 USD
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1167000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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0 USD
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-59000 USD
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37000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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37000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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19421000 USD
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76650000 USD
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31866000 USD
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473000 USD
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473000 USD
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2520000 USD
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3451000 USD
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1664000 USD
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2278000 USD
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CY2015Q1 us-gaap Other Liabilities
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118972000 USD
CY2015Q1 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
30500000 USD
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46998000 USD
CY2015Q1 us-gaap Payments For Origination And Purchases Of Loans Held For Sale
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79070000 USD
CY2014Q1 us-gaap Payments For Proceeds From Loans And Leases
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37887000 USD
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12524000 USD
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0 USD
CY2015Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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CY2014Q1 us-gaap Payments Of Dividends Common Stock
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31435000 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
31829000 USD
CY2015Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
473000 USD
CY2014Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
473000 USD
CY2014Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
79912000 USD
CY2015Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
63370000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
65829000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
59011000 USD
CY2014Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
8000000 USD
CY2015Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
9000000 USD
CY2014Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Current And Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent
632845000 USD
CY2015Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Current And Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent
624555000 USD
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q1 us-gaap Proceeds From Contribution In Aid Of Construction
ProceedsFromContributionInAidOfConstruction
6958000 USD
CY2015Q1 us-gaap Proceeds From Contribution In Aid Of Construction
ProceedsFromContributionInAidOfConstruction
9145000 USD
CY2014Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
19000000 USD
CY2015Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
47000000 USD
CY2014Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3953000 USD
CY2015Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-6253000 USD
CY2014Q1 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
30887000 USD
CY2015Q1 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
-88472000 USD
CY2014Q1 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
3054000 USD
CY2015Q1 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
104468000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
79564000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2014Q1 us-gaap Proceeds From Sale Of Federal Home Loan Bank Stock
ProceedsFromSaleOfFederalHomeLoanBankStock
5848000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Federal Home Loan Bank Stock
ProceedsFromSaleOfFederalHomeLoanBankStock
5590000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
48720000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
78332000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
1429000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
606000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
46260000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
32339000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4148774000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4190835000 USD
CY2014Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
995000 USD
CY2015Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
614000 USD
CY2014Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
995000 USD
CY2015Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
614000 USD
CY2014Q1 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
1609000 USD
CY2015Q1 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
1413000 USD
CY2014Q1 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest
-614000 USD
CY2015Q1 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedInterest
-499000 USD
CY2014Q4 us-gaap Regulatory Assets
RegulatoryAssets
905264000 USD
CY2015Q1 us-gaap Regulatory Assets
RegulatoryAssets
905589000 USD
CY2014Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
344849000 USD
CY2015Q1 us-gaap Regulatory Liabilities
RegulatoryLiabilities
351712000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
255030000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
296654000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
296680000 USD
CY2014Q1 us-gaap Revenues
Revenues
783749000 USD
CY2015Q1 us-gaap Revenues
Revenues
637862000 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
191000000 USD
CY2015Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
212000000 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
191000000 USD
CY2015Q1 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
212000000 USD
CY2013Q1 us-gaap Share Price
SharePrice
27.01
CY2014Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3212000 USD
CY2015Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
103252000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
1726406000 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
1745124000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
1790573000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
1897909000 USD
CY2014Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
34293000 USD
CY2015Q1 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
34293000 USD
CY2014Q1 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
0 USD
CY2015Q1 us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
5000000 USD
CY2014Q1 us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
165000000 USD
CY2015Q1 us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
136000000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102165000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103567000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101382000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103281000 shares

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