$IT
GARTNER INC

2016 Q2 Form 10-Q Financial Statement

#000074925116000042 Filed on August 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $610.0M $547.9M
YoY Change 11.33% 5.41%
Cost Of Revenue $231.4M $210.5M
YoY Change 9.94% 3.6%
Gross Profit $378.6M $337.4M
YoY Change 12.19% 5.87%
Gross Profit Margin 62.06% 61.58%
Selling, General & Admin $272.0M $238.0M
YoY Change 14.29% 8.9%
% of Gross Profit 71.85% 70.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.025M $8.440M
YoY Change 6.93% 9.31%
% of Gross Profit 2.38% 2.5%
Operating Expenses $272.0M $238.0M
YoY Change 14.29% 0.43%
Operating Profit $83.30M $85.22M
YoY Change -2.25% 4.23%
Interest Expense $7.356M $5.240M
YoY Change 40.38% 95.52%
% of Operating Profit 8.83% 6.15%
Other Income/Expense, Net $1.248M -$468.0K
YoY Change -366.67% -367.43%
Pretax Income $77.19M $79.51M
YoY Change -2.92% 0.32%
Income Tax $25.60M $28.40M
% Of Pretax Income 33.16% 35.72%
Net Earnings $51.63M $51.16M
YoY Change 0.92% -3.55%
Net Earnings / Revenue 8.46% 9.34%
Basic Earnings Per Share $0.63 $0.61
Diluted Earnings Per Share $0.62 $0.61
COMMON SHARES
Basic Shares Outstanding 82.56M shares 83.20M shares
Diluted Shares Outstanding 83.71M shares 84.27M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $445.1M $357.6M
YoY Change 24.47% 12.49%
Cash & Equivalents $445.1M $357.6M
Short-Term Investments
Other Short-Term Assets $174.8M $180.9M
YoY Change -3.37% 12.64%
Inventory
Prepaid Expenses
Receivables $613.8M $527.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.234B $1.066B
YoY Change 15.72% 9.7%
LONG-TERM ASSETS
Property, Plant & Equipment $117.3M $107.1M
YoY Change 9.47% 11.77%
Goodwill $742.8M $583.0M
YoY Change 27.4% -2.63%
Intangibles $99.27M $27.11M
YoY Change 266.16% -25.55%
Long-Term Investments
YoY Change
Other Assets $111.6M $77.75M
YoY Change 43.53% -17.34%
Total Long-Term Assets $1.071B $795.0M
YoY Change 34.7% -3.64%
TOTAL ASSETS
Total Short-Term Assets $1.234B $1.066B
Total Long-Term Assets $1.071B $795.0M
Total Assets $2.305B $1.861B
YoY Change 23.83% 3.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $287.5M $262.3M
YoY Change 9.61% 4.34%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $70.00M $20.00M
YoY Change 250.0% -91.88%
Total Short-Term Liabilities $1.387B $1.205B
YoY Change 15.17% -10.48%
LONG-TERM LIABILITIES
Long-Term Debt $756.0M $695.0M
YoY Change 8.78% 439.81%
Other Long-Term Liabilities $214.1M $131.7M
YoY Change 62.59% 5.34%
Total Long-Term Liabilities $970.1M $826.7M
YoY Change 17.35% 225.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.387B $1.205B
Total Long-Term Liabilities $970.1M $826.7M
Total Liabilities $2.357B $2.031B
YoY Change 16.06% 27.01%
SHAREHOLDERS EQUITY
Retained Earnings $1.547B $1.355B
YoY Change 14.21% 14.59%
Common Stock $78.00K $78.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.391B $2.285B
YoY Change 4.66% 31.48%
Treasury Stock Shares 73.61M shares 73.19M shares
Shareholders Equity -$52.83M -$170.2M
YoY Change
Total Liabilities & Shareholders Equity $2.305B $1.861B
YoY Change 23.83% 3.57%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $51.63M $51.16M
YoY Change 0.92% -3.55%
Depreciation, Depletion And Amortization $9.025M $8.440M
YoY Change 6.93% 9.31%
Cash From Operating Activities $148.5M $143.7M
YoY Change 3.31% 5.43%
INVESTING ACTIVITIES
Capital Expenditures -$18.70M -$12.00M
YoY Change 55.83% 20.0%
Acquisitions
YoY Change
Other Investing Activities -$29.10M $0.00
YoY Change -100.0%
Cash From Investing Activities -$47.80M -$12.00M
YoY Change 298.33% -27.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.480M $117.4M
YoY Change -94.48% 5.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -64.30M -62.10M
YoY Change 3.54% -27.62%
NET CHANGE
Cash From Operating Activities $148.5M 143.7M
Cash From Investing Activities -47.80M -12.00M
Cash From Financing Activities -64.30M -62.10M
Net Change In Cash $148.5M 69.60M
YoY Change 113.29% 104.71%
FREE CASH FLOW
Cash From Operating Activities $148.5M $143.7M
Capital Expenditures -$18.70M -$12.00M
Free Cash Flow $167.2M $155.7M
YoY Change 7.36% 6.43%

Facts In Submission

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us-gaap Treasury Stock Shares Acquired
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2016Q2 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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CY2015Q2 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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CY2016Q2 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%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of estimates</font><font style="font-family:inherit;font-size:10pt;">. The preparation of the accompanying interim condensed consolidated financial statements requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of fees receivable, goodwill, intangible assets, and other long-lived assets, as well as tax accruals and other liabilities. In addition, estimates are used in revenue recognition, income tax expense, performance-based compensation charges, depreciation and amortization. Management believes its use of estimates in these interim condensed consolidated financial statements to be reasonable.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management continuously evaluates and revises its estimates using historical experience and other factors, including the general economic environment and actions it may take in the future. Management adjusts these estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and cannot be determined with precision. In addition, these estimates are based on management&#8217;s best judgment at a point in time. As a result, differences between our estimates and actual results could be material and would be reflected in the Company&#8217;s consolidated financial statements in future periods.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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