2018 Q3 Form 10-Q Financial Statement

#000162828018011596 Filed on September 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q4 2017 Q3
Revenue $7.764B $7.660B $7.501B
YoY Change 3.51% 46.35% -6.3%
Cost Of Revenue $5.399B $5.383B $5.306B
YoY Change 1.75% 18.31% 167.98%
Gross Profit $2.365B $2.277B $2.195B
YoY Change 7.74% 232.89% -63.57%
Gross Profit Margin 30.46% 29.73% 29.26%
Selling, General & Admin $1.221B $1.288B $1.285B
YoY Change -4.98% 167.78% -18.41%
% of Gross Profit 51.63% 56.57% 58.54%
Research & Development $435.0M $364.0M $390.0M
YoY Change 11.54% -1010.0% -29.22%
% of Gross Profit 18.39% 15.99% 17.77%
Depreciation & Amortization $641.0M $682.0M $737.0M
YoY Change -13.03% -21.79% -22.75%
% of Gross Profit 27.1% 29.95% 33.58%
Operating Expenses $1.656B $1.652B $1.675B
YoY Change -1.13% 332.46% -21.21%
Operating Profit $490.0M -$224.0M $201.0M
YoY Change 143.78% -174.17% -92.4%
Interest Expense -$53.00M -$75.00M $164.0M
YoY Change -132.32% -19.35% 19.71%
% of Operating Profit -10.82% 81.59%
Other Income/Expense, Net -$64.00M -$76.00M -$87.00M
YoY Change -26.44% 26.09%
Pretax Income $465.0M -$301.0M $125.0M
YoY Change 272.0% -154.43% -95.12%
Income Tax $13.00M -$679.0M -$160.0M
% Of Pretax Income 2.8% -128.0%
Net Earnings $451.0M $524.0M $165.0M
YoY Change 173.33% 73.51% -92.74%
Net Earnings / Revenue 5.81% 6.84% 2.2%
Basic Earnings Per Share $0.30 $0.32 $0.10
Diluted Earnings Per Share $0.29 $0.32 $0.10
COMMON SHARES
Basic Shares Outstanding 1.513B shares 1.594B shares 1.641B shares
Diluted Shares Outstanding 1.531B shares 1.647B shares 1.667B shares

Balance Sheet

Concept 2018 Q3 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.193B $9.579B $7.757B
YoY Change -33.05% -26.24% -27.79%
Cash & Equivalents $5.193B $9.579B $7.757B
Short-Term Investments
Other Short-Term Assets $3.156B $3.085B $6.102B
YoY Change -48.28% 14.51% 22.24%
Inventory $2.771B $2.315B $2.144B
Prepaid Expenses
Receivables $2.906B $3.073B $3.845B
Other Receivables $3.435B $5.382B $1.344B
Total Short-Term Assets $17.47B $21.44B $23.14B
YoY Change -24.53% -25.84% -18.71%
LONG-TERM ASSETS
Property, Plant & Equipment $6.184B $6.269B $6.730B
YoY Change -8.11% -1.66% -29.74%
Goodwill $17.63B $17.52B $25.49B
YoY Change -30.85% 8.86% 5.46%
Intangibles $860.0M $1.042B $1.411B
YoY Change -39.05% 54.37% 16.52%
Long-Term Investments $2.500B $2.500B $2.626B
YoY Change -4.8% -5.59% -1.83%
Other Assets $98.00M $12.60B $11.53B
YoY Change -99.15% 20.27% -9.32%
Total Long-Term Assets $40.05B $39.96B $47.79B
YoY Change -16.2% -21.2% -5.09%
TOTAL ASSETS
Total Short-Term Assets $17.47B $21.44B $23.14B
Total Long-Term Assets $40.05B $39.96B $47.79B
Total Assets $57.51B $61.41B $70.93B
YoY Change -18.92% -22.88% -10.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.143B $6.072B $5.717B
YoY Change 7.45% 22.79% 13.66%
Accrued Expenses $5.188B $5.213B $5.768B
YoY Change -10.06% 2.88% -27.76%
Deferred Revenue
YoY Change
Short-Term Debt $924.0M $845.0M $848.0M
YoY Change 8.96% 12.22% 8.72%
Long-Term Debt Due $1.402B $3.005B $1.221B
YoY Change 14.82% 8.41% 832.06%
Total Short-Term Liabilities $17.41B $18.92B $18.28B
YoY Change -4.77% -16.0% -6.18%
LONG-TERM LIABILITIES
Long-Term Debt $9.963B $10.18B $14.53B
YoY Change -31.42% -16.32% -5.39%
Other Long-Term Liabilities $6.681B $8.795B $1.108B
YoY Change 502.98% -0.89% -2.12%
Total Long-Term Liabilities $16.64B $8.795B $1.108B
YoY Change 1402.17% -0.89% -2.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.41B $18.92B $18.28B
Total Long-Term Liabilities $16.64B $8.795B $1.108B
Total Liabilities $34.09B $27.72B $19.39B
YoY Change 75.82% -11.73% -5.96%
SHAREHOLDERS EQUITY
Retained Earnings -$5.021B -$7.238B -$1.676B
YoY Change 199.58% -360.17% -167.42%
Common Stock $31.34B $33.58B $34.03B
YoY Change -7.92% -4.72% -3.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.43B $23.47B $29.01B
YoY Change
Total Liabilities & Shareholders Equity $57.51B $61.41B $70.93B
YoY Change -18.92% -22.88% -10.01%

Cashflow Statement

Concept 2018 Q3 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $451.0M $524.0M $165.0M
YoY Change 173.33% 73.51% -92.74%
Depreciation, Depletion And Amortization $641.0M $682.0M $737.0M
YoY Change -13.03% -21.79% -22.75%
Cash From Operating Activities $1.249B $831.0M $955.0M
YoY Change 30.79% -66.61% -35.21%
INVESTING ACTIVITIES
Capital Expenditures -$767.0M -$732.0M -$724.0M
YoY Change 5.94% -15.67% -15.81%
Acquisitions
YoY Change
Other Investing Activities $364.0M $249.0M $110.0M
YoY Change 230.91% -62.1% -95.79%
Cash From Investing Activities -$403.0M -$483.0M -$614.0M
YoY Change -34.36% 128.91% -135.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.628B 1.474B -685.0M
YoY Change 283.65% -4435.29% -54.09%
NET CHANGE
Cash From Operating Activities 1.249B 831.0M 955.0M
Cash From Investing Activities -403.0M -483.0M -614.0M
Cash From Financing Activities -2.628B 1.474B -685.0M
Net Change In Cash -1.782B 1.822B -344.0M
YoY Change 418.02% -18.81% -119.85%
FREE CASH FLOW
Cash From Operating Activities $1.249B $831.0M $955.0M
Capital Expenditures -$767.0M -$732.0M -$724.0M
Free Cash Flow $2.016B $1.563B $1.679B
YoY Change 20.07% -53.44% -28.06%

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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
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CY2018Q3 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
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106000000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Before Tax Portion Attributable To Parent
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128000000 USD
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41000000 USD
us-gaap Other Comprehensive Income Finalization Of Pension And Non Pension Postretirement Plan Valuation Tax
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55000000 USD
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5000000 USD
us-gaap Other Comprehensive Income Finalization Of Pension And Non Pension Postretirement Plan Valuation Tax
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12000000 USD
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49000000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
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13000000 USD
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
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4000000 USD
us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
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3000000 USD
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us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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2000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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210000000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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718000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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95000000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Before Tax
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9000000 USD
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us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
2600000000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
25000000 USD
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
25000000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
3000000000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1100000000 USD
CY2017 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
26000000 USD
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
10000000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1667000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1683000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1531000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1578000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1641000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1656000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1513000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1552000000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in accordance with U.S.&#160;GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company's Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ materially from those estimates.</font></div></div>

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