2015 Q2 Form 10-Q Financial Statement

#000102056915000006 Filed on July 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $759.7M $786.9M
YoY Change -3.45% 4.31%
Cost Of Revenue $326.3M $337.0M
YoY Change -3.18% 4.95%
Gross Profit $433.5M $449.9M
YoY Change -3.65% 3.83%
Gross Profit Margin 57.06% 57.17%
Selling, General & Admin $215.9M $213.8M
YoY Change 0.97% -4.78%
% of Gross Profit 49.8% 47.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $87.55M $88.94M
YoY Change -1.57% 12.69%
% of Gross Profit 20.2% 19.77%
Operating Expenses $215.9M $213.8M
YoY Change 0.97% -4.78%
Operating Profit $129.5M $147.3M
YoY Change -12.08% 11.97%
Interest Expense -$67.70M $62.20M
YoY Change -208.84% -1.25%
% of Operating Profit -52.28% 42.23%
Other Income/Expense, Net -$2.004M $4.838M
YoY Change -141.42% -131.67%
Pretax Income $61.40M $89.93M
YoY Change -31.72% 68.78%
Income Tax $7.404M -$182.8M
% Of Pretax Income 12.06% -203.25%
Net Earnings $54.01M $272.4M
YoY Change -80.17% 899.84%
Net Earnings / Revenue 7.11% 34.61%
Basic Earnings Per Share $0.25 $1.41
Diluted Earnings Per Share $0.25 $1.40
COMMON SHARES
Basic Shares Outstanding 210.7M shares 192.4M shares
Diluted Shares Outstanding 212.1M shares 193.5M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.0M $145.0M
YoY Change -15.17% -44.02%
Cash & Equivalents $117.1M $145.3M
Short-Term Investments $6.000M
Other Short-Term Assets $161.4M $146.7M
YoY Change 10.01% -14.73%
Inventory
Prepaid Expenses
Receivables $596.3M $637.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $874.7M $962.9M
YoY Change -9.15% -7.95%
LONG-TERM ASSETS
Property, Plant & Equipment $2.493B $2.607B
YoY Change -4.37% 6.3%
Goodwill $2.389B $2.473B
YoY Change -3.42% 6.74%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.85M $26.00M
YoY Change 3.25% 25.37%
Total Long-Term Assets $5.504B $5.772B
YoY Change -4.65% 9.14%
TOTAL ASSETS
Total Short-Term Assets $874.7M $962.9M
Total Long-Term Assets $5.504B $5.772B
Total Assets $6.379B $6.735B
YoY Change -5.29% 6.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $162.2M $162.0M
YoY Change 0.12% 14.36%
Accrued Expenses $333.8M $444.8M
YoY Change -24.94% 12.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $70.00M $57.00M
YoY Change 22.81% -82.46%
Total Short-Term Liabilities $752.1M $901.7M
YoY Change -16.59% -15.96%
LONG-TERM LIABILITIES
Long-Term Debt $4.719B $4.298B
YoY Change 9.8% 18.93%
Other Long-Term Liabilities $79.12M $66.50M
YoY Change 18.99% -0.08%
Total Long-Term Liabilities $79.12M $66.50M
YoY Change 18.99% -0.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $752.1M $901.7M
Total Long-Term Liabilities $79.12M $66.50M
Total Liabilities $831.3M $968.2M
YoY Change -14.14% -81.58%
SHAREHOLDERS EQUITY
Retained Earnings $276.3M
YoY Change 117.66%
Common Stock $1.605B $1.014B
YoY Change 58.3% 4.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $708.8M $1.288B
YoY Change
Total Liabilities & Shareholders Equity $6.423B $6.735B
YoY Change -4.64% 6.32%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $54.01M $272.4M
YoY Change -80.17% 899.84%
Depreciation, Depletion And Amortization $87.55M $88.94M
YoY Change -1.57% 12.69%
Cash From Operating Activities $174.2M $140.0M
YoY Change 24.43% 30.48%
INVESTING ACTIVITIES
Capital Expenditures $64.58M $80.89M
YoY Change -20.16% 28.76%
Acquisitions $15.28M $15.59M
YoY Change -1.94% -70.52%
Other Investing Activities $5.200M -$15.90M
YoY Change -132.7% -68.2%
Cash From Investing Activities -$74.40M -$105.8M
YoY Change -29.68% -8.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -104.4M -61.00M
YoY Change 71.15% -248.78%
NET CHANGE
Cash From Operating Activities 174.2M 140.0M
Cash From Investing Activities -74.40M -105.8M
Cash From Financing Activities -104.4M -61.00M
Net Change In Cash -4.600M -26.80M
YoY Change -82.84% -182.72%
FREE CASH FLOW
Cash From Operating Activities $174.2M $140.0M
Capital Expenditures $64.58M $80.89M
Free Cash Flow $109.6M $59.11M
YoY Change 85.45% 32.9%

Facts In Submission

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dei Amendment Flag
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false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Period End Date
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dei Document Type
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us-gaap Cost Of Services Excluding Depreciation Depletion And Amortization
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P2Y2M12D
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us-gaap Gain Loss On Disposition Of Assets
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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CY2014Q2 us-gaap Income Loss From Subsidiaries Net Of Tax
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us-gaap Income Loss From Subsidiaries Net Of Tax
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CY2015Q2 us-gaap Income Loss From Subsidiaries Net Of Tax
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us-gaap Income Loss From Subsidiaries Net Of Tax
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us-gaap Income Tax Expense Benefit
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Increase Decrease In Restricted Cash
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us-gaap Interest Income Expense Net
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699000 USD
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1049000 USD
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1
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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195601000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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179738000 USD
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Revenue From Related Parties
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us-gaap Translation Adjustment For Net Investment Hedge Net Of Tax Period Increase Decrease
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CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;Use of Estimates</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires us to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities at the date of the financial statements and for the period then ended. On an ongoing basis, we evaluate the estimates used. We base our estimates on historical experience, actuarial estimates, current conditions and various other assumptions that we believe to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates</font></div></div>

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