2017 Q4 Form 10-Q Financial Statement

#000074925117000019 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $1.015B $828.1M $843.7M
YoY Change 44.27% 44.25% 38.32%
Cost Of Revenue $398.4M $332.2M $352.0M
YoY Change 42.74% 48.89% 52.1%
Gross Profit $616.1M $495.9M $491.7M
YoY Change 45.24% 41.3% 29.89%
Gross Profit Margin 60.73% 59.88% 58.28%
Selling, General & Admin $467.3M $421.2M $408.2M
YoY Change 61.19% 56.04% 50.08%
% of Gross Profit 75.85% 84.93% 83.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.50M $17.34M $18.06M
YoY Change 346.88% 81.93% 100.08%
% of Gross Profit 11.61% 3.5% 3.67%
Operating Expenses $538.8M $421.2M $408.2M
YoY Change 76.19% 56.04% 50.08%
Operating Profit $77.30M -$24.35M -$98.39M
YoY Change -34.71% -149.97% -218.11%
Interest Expense -$38.10M $38.76M $43.96M
YoY Change 217.5% 553.44% 497.55%
% of Operating Profit -49.29%
Other Income/Expense, Net $3.600M $1.171M -$407.0K
YoY Change -62.11% -40.07% -132.61%
Pretax Income $28.40M -$61.94M -$142.8M
YoY Change -73.26% -238.42% -285.0%
Income Tax -$19.30M -$13.80M -$50.47M
% Of Pretax Income -67.96%
Net Earnings $107.3M -$48.18M -$92.28M
YoY Change 61.35% -258.05% -278.75%
Net Earnings / Revenue 10.58% -5.82% -10.94%
Basic Earnings Per Share -$0.53 -$1.03
Diluted Earnings Per Share $1.113M -$0.53 -$1.03
COMMON SHARES
Basic Shares Outstanding 90.65M shares 90.62M shares 89.30M shares
Diluted Shares Outstanding 90.62M shares 89.30M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $538.9M $630.0M $589.3M
YoY Change 13.64% 35.28% 32.4%
Cash & Equivalents $538.9M $630.0M $589.3M
Short-Term Investments
Other Short-Term Assets $872.8M $308.0M $284.3M
YoY Change 286.37% 40.0% 62.64%
Inventory
Prepaid Expenses
Receivables $1.177B $874.3M $886.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.589B $1.812B $1.760B
YoY Change 92.72% 45.45% 42.66%
LONG-TERM ASSETS
Property, Plant & Equipment $221.5M $216.0M $197.1M
YoY Change 82.15% 81.85% 68.12%
Goodwill $2.987B $3.145B $2.377B
YoY Change 304.53% 323.33% 220.01%
Intangibles $1.292B $1.564B $1.595B
YoY Change 1582.3% 1813.27% 1507.16%
Long-Term Investments
YoY Change
Other Assets $193.7M $273.7M $272.5M
YoY Change 121.98% 209.92% 144.21%
Total Long-Term Assets $415.2M $5.199B $5.235B
YoY Change 96.92% 403.9% 388.85%
TOTAL ASSETS
Total Short-Term Assets $2.589B $1.812B $1.760B
Total Long-Term Assets $415.2M $5.199B $5.235B
Total Assets $7.283B $7.011B $6.995B
YoY Change 207.65% 207.83% 203.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.00M $550.2M $517.1M
YoY Change 19.49% 57.92% 79.86%
Accrued Expenses
YoY Change
Deferred Revenue $1.630B
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $379.7M $419.6M $277.6M
YoY Change 1165.74% 949.0% 296.54%
Total Short-Term Liabilities $2.823B $2.482B $2.244B
YoY Change 93.29% 75.11% 61.75%
LONG-TERM LIABILITIES
Long-Term Debt $2.899B $2.922B $3.140B
YoY Change 336.36% 319.62% 315.38%
Other Long-Term Liabilities $578.0M $743.8M $757.0M
YoY Change 217.9% 326.48% 253.58%
Total Long-Term Liabilities $3.477B $3.666B $3.897B
YoY Change 310.91% 320.99% 301.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.823B $2.482B $2.244B
Total Long-Term Liabilities $3.477B $3.666B $3.897B
Total Liabilities $6.300B $6.148B $6.141B
YoY Change 173.13% 168.68% 160.51%
SHAREHOLDERS EQUITY
Retained Earnings $1.647B $1.540B $1.588B
YoY Change 0.2% -2.38% 2.66%
Common Stock $82.00K $82.00K $82.00K
YoY Change 5.13% 5.13% 5.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.427B $2.424B $2.418B
YoY Change 1.26% 1.37% 1.13%
Treasury Stock Shares 72.78M shares 72.96M shares 72.99M shares
Shareholders Equity $983.5M $863.4M $853.7M
YoY Change
Total Liabilities & Shareholders Equity $7.283B $7.011B $6.995B
YoY Change 207.65% 207.83% 203.53%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $107.3M -$48.18M -$92.28M
YoY Change 61.35% -258.05% -278.75%
Depreciation, Depletion And Amortization $71.50M $17.34M $18.06M
YoY Change 346.88% 81.93% 100.08%
Cash From Operating Activities $22.20M $149.6M $112.3M
YoY Change -73.35% 24.15% -24.35%
INVESTING ACTIVITIES
Capital Expenditures -$35.20M -$34.00M -$30.90M
YoY Change 170.77% 193.1% 65.24%
Acquisitions $2.640B $2.620B
YoY Change
Other Investing Activities $0.00 -$37.60M -$2.493B
YoY Change -100.0% -7620.0% 8467.01%
Cash From Investing Activities -$35.10M -$71.60M -$2.524B
YoY Change 10.03% 550.91% 5180.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.275M $11.81M
YoY Change 255.21% 82.22%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -65.80M -80.30M 1.769B
YoY Change 50.23% -9.47% -2850.54%
NET CHANGE
Cash From Operating Activities 22.20M 149.6M 112.3M
Cash From Investing Activities -35.10M -71.60M -2.524B
Cash From Financing Activities -65.80M -80.30M 1.769B
Net Change In Cash -78.70M -2.300M -643.0M
YoY Change -1135.53% -111.06% -533.14%
FREE CASH FLOW
Cash From Operating Activities $22.20M $149.6M $112.3M
Capital Expenditures -$35.20M -$34.00M -$30.90M
Free Cash Flow $57.40M $183.6M $143.2M
YoY Change -40.39% 38.99% -14.33%

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us-gaap Number Of Businesses Acquired
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4 segment
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2371000 USD
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46319000 USD
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2630000000 USD
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PreferredStockSharesIssued
0 shares
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PreferredStockSharesOutstanding
0 shares
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PreferredStockSharesOutstanding
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CY2016Q4 us-gaap Preferred Stock Value
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0 USD
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PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
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us-gaap Proceeds From Issuance Of Long Term Debt
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8550000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
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121606000 USD
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PropertyPlantAndEquipmentNet
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RepaymentsOfLongTermDebt
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CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2016Q3 us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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CY2017Q3 us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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CY2016Q3 us-gaap Selling General And Administrative Expense
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CY2017Q3 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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5500000 shares
CY2017Q3 us-gaap Stock Repurchase Program Authorized Amount1
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1200000000.0 USD
CY2017Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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1100000000 USD
CY2016Q4 us-gaap Stockholders Equity
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StockholdersEquity
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CY2016Q3 us-gaap Subscription Revenue
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us-gaap Subscription Revenue
SubscriptionRevenue
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CY2017Q3 us-gaap Subscription Revenue
SubscriptionRevenue
653443000 USD
us-gaap Subscription Revenue
SubscriptionRevenue
1778481000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2016Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
542792 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
348236 shares
CY2017Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
26725 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2396649000 USD
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2424044000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
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37100000 USD
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UnrecognizedTaxBenefits
72200000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83761000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
90624000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87585000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82549000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
90624000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87585000 shares
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
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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 continually 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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