2017 Q1 Form 10-Q Financial Statement

#000168722917000014 Filed on May 12, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $238.8M $224.5M
YoY Change 6.35%
Cost Of Revenue $99.60M $92.40M
YoY Change 7.79%
Gross Profit $139.1M $132.1M
YoY Change 5.3%
Gross Profit Margin 58.26% 58.84%
Selling, General & Admin $58.30M $15.40M
YoY Change 278.57%
% of Gross Profit 41.91% 11.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $67.58M $65.70M
YoY Change 2.85%
% of Gross Profit 48.58% 49.74%
Operating Expenses $226.7M $173.2M
YoY Change 30.84%
Operating Profit $12.09M $51.26M
YoY Change -76.42%
Interest Expense $68.57M $70.28M
YoY Change -2.43%
% of Operating Profit 567.37% 137.09%
Other Income/Expense, Net -$68.80M -$70.43M
YoY Change -2.32%
Pretax Income -$42.40M -$10.00M
YoY Change 324.0%
Income Tax
% Of Pretax Income
Net Earnings -$25.51M -$9.975M
YoY Change 155.76%
Net Earnings / Revenue -10.69% -4.44%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$0.08 -$33.10K
COMMON SHARES
Basic Shares Outstanding 311.7M shares
Diluted Shares Outstanding 311.7M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $192.0M
YoY Change
Cash & Equivalents $192.5M $269.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $12.00M
Other Receivables $0.00
Total Short-Term Assets $204.0M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $5.612M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $209.0M
YoY Change
Other Assets $232.0M
YoY Change
Total Long-Term Assets $9.384B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $204.0M
Total Long-Term Assets $9.384B
Total Assets $9.588B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $101.0M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $189.0M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $5.714B
YoY Change
Other Long-Term Liabilities $27.00M
YoY Change
Total Long-Term Liabilities $5.741B
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $189.0M
Total Long-Term Liabilities $5.741B
Total Liabilities $5.930B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$25.51M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.951B
YoY Change
Total Liabilities & Shareholders Equity $9.588B
YoY Change

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$25.51M -$9.975M
YoY Change 155.76%
Depreciation, Depletion And Amortization $67.58M $65.70M
YoY Change 2.85%
Cash From Operating Activities $76.07M $77.33M
YoY Change -1.63%
INVESTING ACTIVITIES
Capital Expenditures $270.0K $617.0K
YoY Change -56.24%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$69.50M
YoY Change -100.0%
Cash From Investing Activities $28.40M -$80.15M
YoY Change -135.43%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$188.1M -$2.519M
YoY Change 7365.82%
NET CHANGE
Cash From Operating Activities $76.07M $77.33M
Cash From Investing Activities $28.40M -$80.15M
Cash From Financing Activities -$188.1M -$2.519M
Net Change In Cash -$83.59M -$5.338M
YoY Change 1465.98%
FREE CASH FLOW
Cash From Operating Activities $76.07M $77.33M
Capital Expenditures $270.0K $617.0K
Free Cash Flow $75.80M $76.71M
YoY Change -1.19%

Facts In Submission

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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-2711000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
10561000 USD
CY2016Q4 us-gaap Other Liabilities
OtherLiabilities
30084000 USD
CY2017Q1 us-gaap Other Liabilities
OtherLiabilities
26589000 USD
CY2016Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
673000 USD
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
337000 USD
CY2016Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
153000 USD
CY2017Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
226000 USD
CY2016Q1 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
10179000 USD
CY2017Q1 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
12654000 USD
CY2016Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Portion Attributable To Parent Heldtomaturity Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities
0 USD
CY2017Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Portion Attributable To Parent Heldtomaturity Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParentHeldtomaturitySecurities
0 USD
CY2016Q1 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
7393000 USD
CY2017Q1 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
11449000 USD
CY2016Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
694000 USD
CY2017Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
0 USD
CY2016Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
19952000 USD
CY2017Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
853399000 USD
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
24456000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
0 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
0 USD
CY2017Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
6855000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
-709000 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
-484000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
1153000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
0 USD
CY2017Q1 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
1153000 USD
CY2016Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
164000 USD
CY2017Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
5426000 USD
CY2016Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2017Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2457000 USD
CY2016Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
10056000 USD
CY2017Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
10800000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
617000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
270000 USD
CY2016Q1 us-gaap Payments To Acquire Residential Real Estate
PaymentsToAcquireResidentialRealEstate
112733000 USD
CY2017Q1 us-gaap Payments To Acquire Residential Real Estate
PaymentsToAcquireResidentialRealEstate
27813000 USD
CY2016 us-gaap Preferred Stock Amount Of Preferred Dividends In Arrears
PreferredStockAmountOfPreferredDividendsInArrears
0 USD
CY2016 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.12
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
900000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
113 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2016Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
21883000 USD
CY2017Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
33811000 USD
CY2016Q1 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
128002000 USD
CY2017Q1 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
0 USD
CY2017Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
1692058000 USD
CY2016Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2017Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
1692058000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
11276000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
0 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
1500000000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
72701000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
73652000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6247000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5612000 USD
CY2016Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
45062000 USD
CY2017Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
37142000 USD
CY2016Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
62169000 USD
CY2017Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
61989000 USD
CY2016Q1 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
43268000 USD
CY2017Q1 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
2321585000 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
792330000 USD
CY2016Q4 us-gaap Real Estate Investments Other
RealEstateInvestmentsOther
229890000 USD
CY2017Q1 us-gaap Real Estate Investments Other
RealEstateInvestmentsOther
228643000 USD
CY2016Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
224502000 USD
CY2017Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
238750000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
9794845000 USD
CY2017Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
9780115000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
9002515000 USD
CY2017Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
8926716000 USD
CY2016 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1959000 USD
CY2016Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
29598000 USD
CY2017Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1030471000 USD
CY2016Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
68767000 USD
CY2017Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
222092000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
144169000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25512000 USD
CY2017Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
310376634 shares
CY2016Q4 us-gaap Secured Debt
SecuredDebt
5254738000 USD
CY2017Q1 us-gaap Secured Debt
SecuredDebt
4228525000 USD
CY2016Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
86513000 USD
CY2017Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
87792000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4206000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
44244000 USD
CY2017Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1692058000 USD
CY2017Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1153000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1957423000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
3658042000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
1951407000 USD
CY2017Q1 us-gaap Stockholders Equity Change In Reporting Entity
StockholdersEquityChangeInReportingEntity
-1951407000 USD
CY2016Q4 us-gaap Unsecured Debt
UnsecuredDebt
0 USD
CY2017Q1 us-gaap Unsecured Debt
UnsecuredDebt
1485866000 USD
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
311651082 shares
CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:left;text-indent:0px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:normal;text-decoration:none;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:0px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires us 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, as well as the reported amounts of revenues and expenses during the reporting periods. These estimates are inherently subjective in nature and actual results could differ from those estimates.</font></div></div>

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