2018 Q2 Form 10-Q Financial Statement

#000004721718000026 Filed on June 05, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $14.00B $12.39B
YoY Change 13.06% 6.88%
Cost Of Revenue $11.30B $10.00B
YoY Change 12.99% 7.11%
Gross Profit $2.702B $2.383B
YoY Change 13.39% 5.91%
Gross Profit Margin 19.3% 19.24%
Selling, General & Admin $1.318B $1.090B
YoY Change 20.92% 8.78%
% of Gross Profit 48.78% 45.74%
Research & Development $356.0M $314.0M
YoY Change 13.38% 4.32%
% of Gross Profit 13.18% 13.18%
Depreciation & Amortization $127.0M $89.00M
YoY Change 42.7% 4.71%
% of Gross Profit 4.7% 3.73%
Operating Expenses $1.674B $1.404B
YoY Change 19.23% 7.75%
Operating Profit $906.0M $818.0M
YoY Change 10.76% -2.73%
Interest Expense -$109.0M -$46.00M
YoY Change 136.96% 109.09%
% of Operating Profit -12.03% -5.62%
Other Income/Expense, Net -$823.0M -$64.00M
YoY Change 1185.94% 1180.0%
Pretax Income $83.00M $754.0M
YoY Change -88.99% -9.81%
Income Tax -$975.0M $195.0M
% Of Pretax Income -1174.7% 25.86%
Net Earnings $1.058B $559.0M
YoY Change 89.27% -11.13%
Net Earnings / Revenue 7.56% 4.51%
Basic Earnings Per Share $0.65 $0.33
Diluted Earnings Per Share $0.64 $0.33
COMMON SHARES
Basic Shares Outstanding 1.630B shares 1.688B shares
Diluted Shares Outstanding 1.646B shares 1.709B shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.330B $6.223B
YoY Change -14.35% 34.23%
Cash & Equivalents $4.247B $6.223B
Short-Term Investments $1.083B
Other Short-Term Assets $5.024B $3.552B
YoY Change 41.44% 228.58%
Inventory $5.557B $4.756B
Prepaid Expenses
Receivables $4.605B $3.771B
Other Receivables $2.748B $2.526B
Total Short-Term Assets $19.43B $18.30B
YoY Change 6.18% 18.96%
LONG-TERM ASSETS
Property, Plant & Equipment $2.061B $1.661B
YoY Change 24.08% 5.66%
Goodwill $5.941B $5.622B
YoY Change 5.67%
Intangibles
YoY Change
Long-Term Investments $33.00M
YoY Change
Other Assets $4.652B $3.101B
YoY Change 50.02% 59.85%
Total Long-Term Assets $12.65B $10.38B
YoY Change 21.86% 2.43%
TOTAL ASSETS
Total Short-Term Assets $19.43B $18.30B
Total Long-Term Assets $12.65B $10.38B
Total Assets $32.09B $28.69B
YoY Change 11.86% 12.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.05B $11.08B
YoY Change 17.83% 21.76%
Accrued Expenses $6.853B $5.974B
YoY Change 14.71% -6.05%
Deferred Revenue
YoY Change
Short-Term Debt $1.080B $34.00M
YoY Change 3076.47% -2.86%
Long-Term Debt Due $537.0M $76.00M
YoY Change 606.58% 162.07%
Total Short-Term Liabilities $23.13B $18.60B
YoY Change 24.31% 10.33%
LONG-TERM LIABILITIES
Long-Term Debt $4.494B $6.710B
YoY Change -33.03% 0.03%
Other Long-Term Liabilities $6.329B $7.327B
YoY Change -13.62% 48.14%
Total Long-Term Liabilities $6.329B $7.327B
YoY Change -13.62% -37.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.13B $18.60B
Total Long-Term Liabilities $6.329B $7.327B
Total Liabilities $29.46B $25.93B
YoY Change 13.59% -14.44%
SHAREHOLDERS EQUITY
Retained Earnings -$1.075B -$2.779B
YoY Change -61.32%
Common Stock $510.0M $521.0M
YoY Change -2.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.863B -$3.955B
YoY Change
Total Liabilities & Shareholders Equity $32.09B $28.69B
YoY Change 11.86% 12.39%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $1.058B $559.0M
YoY Change 89.27% -11.13%
Depreciation, Depletion And Amortization $127.0M $89.00M
YoY Change 42.7% 4.71%
Cash From Operating Activities $1.050B $455.0M
YoY Change 130.77% -71.11%
INVESTING ACTIVITIES
Capital Expenditures -$113.0M -$75.00M
YoY Change 50.67% -12.79%
Acquisitions
YoY Change
Other Investing Activities $734.0M -$80.00M
YoY Change -1017.5% 37.93%
Cash From Investing Activities $621.0M -$155.0M
YoY Change -500.65% 7.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $800.0M $200.0M
YoY Change 300.0% -33.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.899B -408.0M
YoY Change 610.54% -15.53%
NET CHANGE
Cash From Operating Activities 1.050B 455.0M
Cash From Investing Activities 621.0M -155.0M
Cash From Financing Activities -2.899B -408.0M
Net Change In Cash -1.228B -108.0M
YoY Change 1037.04% -111.39%
FREE CASH FLOW
Cash From Operating Activities $1.050B $455.0M
Capital Expenditures -$113.0M -$75.00M
Free Cash Flow $1.163B $530.0M
YoY Change 119.43% -68.09%

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us-gaap Stock Repurchased And Retired During Period Shares
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us-gaap Stock Repurchased And Retired During Period Shares
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us-gaap Prior Period Reclassification Adjustment Description
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HP implemented an organizational change to align its segment and business unit financial reporting more closely with its current business structure. HP reflected this change to its segment and business unit information in prior reporting periods on an as-if basis. The reporting changes had no impact on previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share (&#8220;EPS&#8221;). See Note 2, &#8220;Segment Information&#8221;, for a further discussion of HP&#8217;s segment and business unit realignments.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-indent:30px;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:4px;padding-top:4px;text-indent:30px;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 HP&#8217;s Consolidated Condensed Financial Statements and accompanying notes. Actual results could differ materially from those estimates.</font></div></div>

Files In Submission

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