2015 Q3 Form 10-Q Financial Statement

#000119312515365532 Filed on November 04, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3 2014 Q2
Revenue $7.173B $9.658B $10.05B
YoY Change -25.73% 12.38% 26.28%
Cost Of Revenue $5.404B $7.458B $7.425B
YoY Change -27.54% 3.67% 9.21%
Gross Profit $1.769B $2.200B $2.624B
YoY Change -19.59% 57.14% 126.4%
Gross Profit Margin 24.66% 22.78% 26.11%
Selling, General & Admin $267.0M $254.0M $296.0M
YoY Change 5.12% -12.71% 17.46%
% of Gross Profit 15.09% 11.55% 11.28%
Research & Development $19.00M $14.00M $17.00M
YoY Change 35.71% -53.33% -19.05%
% of Gross Profit 1.07% 0.64% 0.65%
Depreciation & Amortization $400.0M $276.0M $280.0M
YoY Change 44.93% 23.77% -38.05%
% of Gross Profit 22.61% 12.55% 10.67%
Operating Expenses $267.0M $254.0M $296.0M
YoY Change 5.12% -12.71% 17.46%
Operating Profit $1.502B $1.946B $2.328B
YoY Change -22.82% 75.47% 156.67%
Interest Expense -$10.00M -$1.000M $2.000M
YoY Change 900.0% 0.0% 0.0%
% of Operating Profit -0.67% -0.05% 0.09%
Other Income/Expense, Net -$2.000M $1.000M -$2.000M
YoY Change -300.0% 0.0% 0.0%
Pretax Income $637.0M $1.245B $1.646B
YoY Change -48.84% 45.27% 281.02%
Income Tax $158.0M $309.0M $414.0M
% Of Pretax Income 24.8% 24.82% 25.15%
Net Earnings $479.0M $936.0M $1.232B
YoY Change -48.82% 44.67% 276.76%
Net Earnings / Revenue 6.68% 9.69% 12.26%
Basic Earnings Per Share $0.56 $1.10 $1.45
Diluted Earnings Per Share $0.56 $1.10 $1.45
COMMON SHARES
Basic Shares Outstanding 847.6M shares 847.6M shares 847.6M shares
Diluted Shares Outstanding 850.9M shares 850.9M shares 850.7M shares

Balance Sheet

Concept 2015 Q3 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $366.0M $43.00M $171.0M
YoY Change 751.16% -43.42% -68.45%
Cash & Equivalents $366.0M $43.00M $171.0M
Short-Term Investments
Other Short-Term Assets $822.0M $1.014B $1.098B
YoY Change -18.93% 0.2% 15.34%
Inventory $1.223B $1.107B $1.123B
Prepaid Expenses
Receivables $1.595B $2.301B $2.405B
Other Receivables $107.0M $0.00 $0.00
Total Short-Term Assets $4.113B $4.465B $4.797B
YoY Change -7.88% 0.56% -3.15%
LONG-TERM ASSETS
Property, Plant & Equipment $37.57B $34.12B $33.02B
YoY Change 10.09% 13.6% 16.04%
Goodwill $224.0M $224.0M $224.0M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.484B $1.379B $1.309B
YoY Change 7.61% 4.08% 1.32%
Other Assets $66.00M $52.00M $53.00M
YoY Change 26.92% -7.14% 0.0%
Total Long-Term Assets $39.34B $35.78B $34.60B
YoY Change 9.96% 13.07% 15.26%
TOTAL ASSETS
Total Short-Term Assets $4.113B $4.465B $4.797B
Total Long-Term Assets $39.34B $35.78B $34.60B
Total Assets $43.45B $40.24B $39.40B
YoY Change 7.98% 11.53% 12.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.393B $79.00M $4.000M
YoY Change 4194.94% -98.28% -96.88%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.953B $1.759B $1.624B
YoY Change 11.03%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.770B $7.028B $7.086B
YoY Change -17.9% 0.39% -4.07%
LONG-TERM LIABILITIES
Long-Term Debt $5.852B $4.316B $4.316B
YoY Change 35.59% 1.48% 25.68%
Other Long-Term Liabilities $3.900B $2.817B $2.917B
YoY Change 38.45% -31.21% -30.48%
Total Long-Term Liabilities $9.752B $7.133B $7.233B
YoY Change 36.72% -14.55% -5.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.770B $7.028B $7.086B
Total Long-Term Liabilities $9.752B $7.133B $7.233B
Total Liabilities $20.29B $17.86B $17.88B
YoY Change 13.59% -1.77% 1.15%
SHAREHOLDERS EQUITY
Retained Earnings $23.70B $22.46B $21.64B
YoY Change 5.52% 19.91% 18.97%
Common Stock $1.566B $1.566B $1.566B
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.16B $22.38B $21.52B
YoY Change
Total Liabilities & Shareholders Equity $43.45B $40.24B $39.40B
YoY Change 7.98% 11.53% 12.65%

Cashflow Statement

Concept 2015 Q3 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $479.0M $936.0M $1.232B
YoY Change -48.82% 44.67% 276.76%
Depreciation, Depletion And Amortization $400.0M $276.0M $280.0M
YoY Change 44.93% 23.77% -38.05%
Cash From Operating Activities $1.104B $1.230B $999.0M
YoY Change -10.24% 312.75% 35.37%
INVESTING ACTIVITIES
Capital Expenditures -$647.0M -$1.351B -$1.295B
YoY Change -52.11% -25.36% -19.86%
Acquisitions
YoY Change
Other Investing Activities $28.00M -$28.00M $700.0M
YoY Change -200.0% -566.67% 1196.3%
Cash From Investing Activities -$619.0M -$1.379B -$595.0M
YoY Change -55.11% -23.56% -61.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -147.0M 21.00M -335.0M
YoY Change -800.0% -97.98% -132.12%
NET CHANGE
Cash From Operating Activities 1.104B 1.230B 999.0M
Cash From Investing Activities -619.0M -1.379B -595.0M
Cash From Financing Activities -147.0M 21.00M -335.0M
Net Change In Cash 338.0M -128.0M 999.0M
YoY Change -364.06% -72.53% 356.16%
FREE CASH FLOW
Cash From Operating Activities $1.104B $1.230B $999.0M
Capital Expenditures -$647.0M -$1.351B -$1.295B
Free Cash Flow $1.751B $2.581B $2.294B
YoY Change -32.16% 22.44% -2.55%

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<div> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><b>10.</b></td> <td align="left" valign="top"><b>Recently Issued Accounting Standards</b></td> </tr> </table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> In May 2014, the Financial Accounting Standards Board issued a new standard, <i>Revenue from Contracts with Customers</i>. The standard establishes a single revenue recognition model for all contracts with customers, eliminates industry specific requirements and expands disclosure requirements. The standard will be adopted beginning January&#xA0;1, 2018. Imperial is evaluating the standard and its effect on the company&#x2019;s financial statements.</p> </div>
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