2018 Q4 Form 10-Q Financial Statement

#000005143418000041 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $5.951B $5.901B $5.517B
YoY Change 4.2% 6.96% 13.43%
Cost Of Revenue $3.800B $3.887B $4.024B
YoY Change 2.65% -3.4% 11.1%
Gross Profit $2.151B $2.014B $1.493B
YoY Change 7.07% 34.9% 20.21%
Gross Profit Margin 36.15% 34.13% 27.06%
Selling, General & Admin $888.0M $405.0M $401.0M
YoY Change 4.23% 1.0% 5.53%
% of Gross Profit 41.28% 20.11% 26.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $338.0M $335.0M $350.0M
YoY Change -2.87% -4.29% 11.46%
% of Gross Profit 15.71% 16.63% 23.44%
Operating Expenses $1.226B $405.0M $401.0M
YoY Change 2.94% 1.0% 5.53%
Operating Profit $925.0M $738.0M $674.0M
YoY Change 13.08% 9.5% 9.95%
Interest Expense -$133.0M $184.0M $198.0M
YoY Change -5.0% -7.07% 9.39%
% of Operating Profit -14.38% 24.93% 29.38%
Other Income/Expense, Net -$429.0M -$25.00M -$49.00M
YoY Change 7.79% -48.98% 2350.0%
Pretax Income $382.0M $553.0M $457.0M
YoY Change 93.91% 21.01% 42.81%
Income Tax $145.0M $83.00M $136.0M
% Of Pretax Income 37.96% 15.01% 29.76%
Net Earnings $316.0M $562.0M $395.0M
YoY Change -78.36% 42.28% 26.6%
Net Earnings / Revenue 5.31% 9.52% 7.16%
Basic Earnings Per Share $0.79 $1.38 $0.96
Diluted Earnings Per Share $0.78 $1.37 $0.95
COMMON SHARES
Basic Shares Outstanding 405.0M shares 407.4M shares 412.9M shares
Diluted Shares Outstanding 411.4M shares 417.4M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $589.0M $1.026B $998.0M
YoY Change -42.14% 2.81% -61.05%
Cash & Equivalents $589.0M $1.026B $998.0M
Short-Term Investments $0.00
Other Short-Term Assets $250.0M $199.0M $405.0M
YoY Change -11.35% -50.86% 80.0%
Inventory $2.241B $2.130B $2.465B
Prepaid Expenses
Receivables $3.916B $3.963B $3.343B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.996B $7.318B $7.211B
YoY Change -15.48% 1.48% -11.01%
LONG-TERM ASSETS
Property, Plant & Equipment $13.07B $13.09B $14.07B
YoY Change -1.49% -6.95% 15.24%
Goodwill $3.374B $3.371B $3.420B
YoY Change -1.08% -1.43% 1.73%
Intangibles
YoY Change
Long-Term Investments $8.718B $8.680B $7.383B
YoY Change 17.16% 17.57% 0.41%
Other Assets $1.019B $958.0M $1.266B
YoY Change -3.96% -24.33% 11.94%
Total Long-Term Assets $13.47B $26.49B $26.60B
YoY Change -1.78% -0.44% 8.59%
TOTAL ASSETS
Total Short-Term Assets $6.996B $7.318B $7.211B
Total Long-Term Assets $13.47B $26.49B $26.60B
Total Assets $33.58B $33.80B $33.81B
YoY Change -0.96% -0.03% 3.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.413B $2.510B $2.408B
YoY Change -1.83% 4.24% 18.56%
Accrued Expenses $535.0M $484.0M $447.0M
YoY Change 10.31% 8.28% 13.45%
Deferred Revenue $56.00M $25.00M
YoY Change 5.66%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $639.0M $555.0M $958.0M
YoY Change 105.47% -42.07% 1128.21%
Total Short-Term Liabilities $4.694B $4.603B $4.869B
YoY Change -8.0% -5.46% 37.5%
LONG-TERM LIABILITIES
Long-Term Debt $10.02B $10.70B $11.37B
YoY Change -7.66% -5.92% 5.08%
Other Long-Term Liabilities $560.0M $544.0M $460.0M
YoY Change -1.23% 18.26% 8.49%
Total Long-Term Liabilities $10.58B $11.24B $11.83B
YoY Change -7.34% -4.98% 5.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.694B $4.603B $4.869B
Total Long-Term Liabilities $10.58B $11.24B $11.83B
Total Liabilities $15.27B $15.85B $16.70B
YoY Change -7.54% -5.12% 12.94%
SHAREHOLDERS EQUITY
Retained Earnings $7.465B $7.353B $4.918B
YoY Change 20.79% 49.51% 2.61%
Common Stock $6.729B $6.705B $6.625B
YoY Change 1.11% 1.21% -0.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.332B $2.131B $1.680B
YoY Change 38.81% 26.85% -4.27%
Treasury Stock Shares 48.31M shares 43.90M shares
Shareholders Equity $7.362B $7.040B $4.914B
YoY Change
Total Liabilities & Shareholders Equity $33.58B $33.80B $33.81B
YoY Change -0.96% -0.03% 3.72%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $316.0M $562.0M $395.0M
YoY Change -78.36% 42.28% 26.6%
Depreciation, Depletion And Amortization $338.0M $335.0M $350.0M
YoY Change -2.87% -4.29% 11.46%
Cash From Operating Activities $821.0M $941.0M -$705.0M
YoY Change -30.89% -233.48% -306.74%
INVESTING ACTIVITIES
Capital Expenditures -$286.0M -$357.0M -$271.0M
YoY Change -37.28% 31.73% 1.88%
Acquisitions
YoY Change
Other Investing Activities $27.00M $11.00M -$7.000M
YoY Change -63.01% -257.14% -46.15%
Cash From Investing Activities -$259.0M -$346.0M -$278.0M
YoY Change -32.38% 24.46% -0.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.000B -636.0M 930.0M
YoY Change 28.37% -168.39% -24.51%
NET CHANGE
Cash From Operating Activities 821.0M 941.0M -705.0M
Cash From Investing Activities -259.0M -346.0M -278.0M
Cash From Financing Activities -1.000B -636.0M 930.0M
Net Change In Cash -438.0M -41.00M -53.00M
YoY Change -1784.62% -22.64% -104.1%
FREE CASH FLOW
Cash From Operating Activities $821.0M $941.0M -$705.0M
Capital Expenditures -$286.0M -$357.0M -$271.0M
Free Cash Flow $1.107B $1.298B -$434.0M
YoY Change -32.66% -399.08% -171.5%

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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
5000000 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-33000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
22000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
12000000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
395000000 USD
us-gaap Profit Loss
ProfitLoss
684000000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
562000000 USD
us-gaap Profit Loss
ProfitLoss
1699000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13265000000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13088000000 USD
CY2017Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-56000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-169000000 USD
CY2018Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-78000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-231000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
369000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
242000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6180000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
7353000000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5517000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16032000000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5901000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17355000000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
401000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1187000000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
405000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1277000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1800000 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
62.97
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
130000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
112000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
6522000000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
7040000000 USD
CY2017Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
8202000000 USD
CY2018Q3 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
9171000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7058000000 USD
CY2017Q3 us-gaap Taxes Other
TaxesOther
41000000 USD
us-gaap Taxes Other
TaxesOther
124000000 USD
CY2018Q3 us-gaap Taxes Other
TaxesOther
44000000 USD
us-gaap Taxes Other
TaxesOther
130000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4359000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4933000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6541000000 USD
CY2017Q4 us-gaap Timber And Timberlands
TimberAndTimberlands
448000000 USD
CY2018Q3 us-gaap Timber And Timberlands
TimberAndTimberlands
388000000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
36000000 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
43900000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1680000000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
2131000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
46000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
532000000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
417400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
417400000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
411400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
416300000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
412900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
412600000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
407400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
411400000 shares

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