2014 Q4 Form 10-K Financial Statement

#000119312515045845 Filed on February 12, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4 2013 Q3
Revenue $1.064B $1.004B $1.196B
YoY Change 5.99% 6.15% -0.31%
Cost Of Revenue $1.022B $1.017B $600.7M
YoY Change 0.46% 5.82% -1.86%
Gross Profit $389.2M $362.0M $595.1M
YoY Change 7.51% 14.09% 1.31%
Gross Profit Margin 36.58% 36.06% 49.77%
Selling, General & Admin $225.1M $232.8M $199.6M
YoY Change -3.31% 7.98% 3.52%
% of Gross Profit 57.84% 64.31% 33.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.90M $30.50M $27.32M
YoY Change 4.59% 19.14% 6.21%
% of Gross Profit 8.2% 8.43% 4.59%
Operating Expenses $225.1M $232.8M $199.6M
YoY Change -3.31% 7.93% 3.52%
Operating Profit $158.9M $127.0M $125.3M
YoY Change 25.13% 34.51% 14.77%
Interest Expense -$25.50M -$25.20M $28.76M
YoY Change 1.19% -31.71% -14.19%
% of Operating Profit -16.04% -19.84% 22.96%
Other Income/Expense, Net -$600.0K $1.600M -$3.224M
YoY Change -137.5% -166.67% -16.26%
Pretax Income $132.9M $100.0M $94.40M
YoY Change 32.9% 81.49% 29.99%
Income Tax $39.00M $27.60M $27.46M
% Of Pretax Income 29.35% 27.6% 29.09%
Net Earnings $88.43M $73.00M $66.77M
YoY Change 21.14% 108.72% 28.16%
Net Earnings / Revenue 8.31% 7.27% 5.58%
Basic Earnings Per Share $0.70 $0.57 $0.52
Diluted Earnings Per Share $0.69 $0.55 $0.50
COMMON SHARES
Basic Shares Outstanding 127.8M shares 128.9M shares 128.9M shares
Diluted Shares Outstanding 133.3M shares

Balance Sheet

Concept 2014 Q4 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $867.8M $784.7M $679.0M
YoY Change 10.6% 37.62%
Cash & Equivalents $867.0M $777.0M $609.7M
Short-Term Investments $831.0K $7.668M $70.00M
Other Short-Term Assets $92.09M $89.54M $80.77M
YoY Change 2.84% 20.87%
Inventory
Prepaid Expenses $44.63M $42.80M $42.12M
Receivables $975.0M $924.0M $895.0M
Other Receivables $46.00M $16.00M $17.00M
Total Short-Term Assets $2.146B $1.946B $1.717B
YoY Change 10.3% 28.85%
LONG-TERM ASSETS
Property, Plant & Equipment $190.3M $199.6M $197.4M
YoY Change -4.65% 2.88%
Goodwill $464.0M $409.6M $412.5M
YoY Change 13.27% 35.45%
Intangibles $280.2M $298.1M $310.2M
YoY Change -5.98% 9.25%
Long-Term Investments $66.00M $63.00M $23.35M
YoY Change 4.76% 229.02%
Other Assets $149.0M $151.0M $143.0M
YoY Change -1.32%
Total Long-Term Assets $1.150B $1.109B $1.125B
YoY Change 3.73% 12.07%
TOTAL ASSETS
Total Short-Term Assets $2.146B $1.946B $1.717B
Total Long-Term Assets $1.150B $1.109B $1.125B
Total Assets $3.296B $3.054B $2.842B
YoY Change 7.91% 22.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $108.7M $100.6M $759.0M
YoY Change 8.08% 18.77%
Accrued Expenses $733.6M $761.2M
YoY Change -3.62% 15.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $750.0K $10.31M $4.000M
YoY Change -92.72% -81.46%
Total Short-Term Liabilities $1.472B $1.482B $1.334B
YoY Change -0.7% 13.24%
LONG-TERM LIABILITIES
Long-Term Debt $2.283B $2.035B $2.042B
YoY Change 12.14% -13.97%
Other Long-Term Liabilities $183.7M $178.9M $161.0M
YoY Change 2.65% 4.43%
Total Long-Term Liabilities $2.466B $2.214B $161.0M
YoY Change 11.37% -12.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.472B $1.482B $1.334B
Total Long-Term Liabilities $2.466B $2.214B $161.0M
Total Liabilities $4.000B $3.734B $3.554B
YoY Change 7.11% -3.21%
SHAREHOLDERS EQUITY
Retained Earnings -$788.8M -$1.145B -$1.218B
YoY Change -31.12% -16.52%
Common Stock $143.8M $478.1M $510.1M
YoY Change -69.92% 10399.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$704.1M -$667.4M -$712.0M
YoY Change
Total Liabilities & Shareholders Equity $3.296B $3.067B $2.842B
YoY Change 7.47% 22.71%

Cashflow Statement

Concept 2014 Q4 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $88.43M $73.00M $66.77M
YoY Change 21.14% 108.72% 28.16%
Depreciation, Depletion And Amortization $31.90M $30.50M $27.32M
YoY Change 4.59% 19.14% 6.21%
Cash From Operating Activities $256.0M $215.5M $176.5M
YoY Change 18.79% 34.69% 99.66%
INVESTING ACTIVITIES
Capital Expenditures -$24.90M -$14.40M -$13.60M
YoY Change 72.92% -34.25% -12.26%
Acquisitions
YoY Change
Other Investing Activities -$2.400M $2.300M -$147.0M
YoY Change -204.35% -75.53% 255.93%
Cash From Investing Activities -$27.20M -$12.20M -$160.6M
YoY Change 122.95% -2.4% 183.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.10M -33.30M -1.500M
YoY Change -142.34% -58.38% -81.71%
NET CHANGE
Cash From Operating Activities 256.0M 215.5M 176.5M
Cash From Investing Activities -27.20M -12.20M -160.6M
Cash From Financing Activities 14.10M -33.30M -1.500M
Net Change In Cash 242.9M 170.0M 14.40M
YoY Change 42.88% 151.85% -38.72%
FREE CASH FLOW
Cash From Operating Activities $256.0M $215.5M $176.5M
Capital Expenditures -$24.90M -$14.40M -$13.60M
Free Cash Flow $280.9M $229.9M $190.1M
YoY Change 22.18% 26.39% 82.96%

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CY2014 dei Entity Registrant Name
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Quintiles Transnational Holdings Inc.
CY2014 dei Entity Well Known Seasoned Issuer
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CY2014 dei Trading Symbol
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Most contracts may be terminated upon 30 to 90 days notice by the customer, however, in the event of termination, contract provisions typically require payment for services rendered through the date of termination, as well as for subsequent services rendered to close out the contract.
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in accordance with generally accepted accounting principles in the United States of America (&#x201C;GAAP&#x201D;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities, at the date of the financial statements, as well as the reported amounts of revenues and expenses during the period. These estimates are based on historical experience and various other assumptions believed reasonable under the circumstances. The Company evaluates its estimates on an ongoing basis and makes changes to the estimates and related disclosures as experience develops or new information becomes known. Actual results may differ from those estimates.</p> </div>
CY2014 dei Document Period End Date
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2014-12-31
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CY2014 us-gaap Concentration Risk Credit Risk
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DeferredFederalAndStatesIncomeTaxExpenseBenefit
16023000
CY2012 q Deferred Income Tax Expense Benefit Net Of Adjustments
DeferredIncomeTaxExpenseBenefitNetOfAdjustments
15032000
CY2012 q Income Tax Reconciliation Foreign Nontaxable Interest Income
IncomeTaxReconciliationForeignNontaxableInterestIncome
7864000
CY2012 q Change In Fair Value Of Contingent Consideration Payable For Business Acquisition
ChangeInFairValueOfContingentConsiderationPayableForBusinessAcquisition
1990000
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
CY2013Q1 us-gaap Profit Loss
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48156000
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
115165000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
48309000
CY2013Q1 us-gaap Sales Revenue Services Net
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CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-153000
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.68
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2014Q1 us-gaap Profit Loss
ProfitLoss
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CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
141316000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2014Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
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CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2013Q2 us-gaap Profit Loss
ProfitLoss
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CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2013Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
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CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8100000
CY2013Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2013Q2 q Agreement Transaction Fees
AgreementTransactionFees
1500000
CY2013Q2 q Management Agreement Termination Fee
ManagementAgreementTerminationFee
25000000
CY2013Q2 q Payment Of Agreement Modification Fee
PaymentOfAgreementModificationFee
1500000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.66
CY2014Q2 us-gaap Profit Loss
ProfitLoss
85110000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
141000000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
85120000
CY2014Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1035476000
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-10000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2013Q3 us-gaap Profit Loss
ProfitLoss
66584000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
125259000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
66769000
CY2013Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
932727000
CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-185000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2014Q3 us-gaap Profit Loss
ProfitLoss
92733000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
149142000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
92654000
CY2014Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1061013000
CY2014Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
79000
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2013Q4 us-gaap Profit Loss
ProfitLoss
72934000
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
127012000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
72996000
CY2013Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1003940000
CY2013Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-62000
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.70
CY2014Q4 us-gaap Profit Loss
ProfitLoss
88444000
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
158932000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
88426000
CY2014Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1064045000
CY2014Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
18000

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