2018 Form 10-K Financial Statement

#000162828019001864 Filed on February 25, 2019

View on sec.gov

Income Statement

Concept 2018 2017 Q4 2017 Q3
Revenue $13.55B $3.185B $3.246B
YoY Change 5.39% 2.84% -0.67%
Cost Of Revenue $8.821B $2.110B $2.074B
YoY Change 8.17% 6.03% 3.8%
Gross Profit $4.726B $1.142B $1.172B
YoY Change 0.57% 17.01% -7.72%
Gross Profit Margin 34.89% 35.86% 36.11%
Selling, General & Admin $3.020B $728.0M $839.0M
YoY Change -8.82% -14.75% 2.19%
% of Gross Profit 63.9% 63.75% 71.59%
Research & Development $154.0M
YoY Change 4.05%
% of Gross Profit 3.26%
Depreciation & Amortization $516.0M $115.0M $119.0M
YoY Change 7.28% 8.49% -12.5%
% of Gross Profit 10.92% 10.07% 10.15%
Operating Expenses $3.174B $728.0M $839.0M
YoY Change -8.27% -14.75% 2.19%
Operating Profit $1.706B $414.0M $333.0M
YoY Change 23.0% 0.98% -25.84%
Interest Expense -$280.0M -$47.00M -$69.00M
YoY Change 51.35% -24.19% 32.69%
% of Operating Profit -16.41% -11.35% -20.72%
Other Income/Expense, Net -$90.00M $258.0M $117.0M
YoY Change -117.11% 8500.0% 2825.0%
Pretax Income $851.0M $579.0M $386.0M
YoY Change -22.42% 63.1% 0.26%
Income Tax $181.0M $156.0M $101.0M
% Of Pretax Income 21.27% 26.94% 26.17%
Net Earnings $1.336B $417.0M $288.0M
YoY Change 6.54% -886.79% 2.86%
Net Earnings / Revenue 9.86% 13.09% 8.87%
Basic Earnings Per Share $3.85 $1.21 $0.83
Diluted Earnings Per Share $3.83 $1.20 $0.83
COMMON SHARES
Basic Shares Outstanding 347.0M shares 345.5M shares 345.0M shares
Diluted Shares Outstanding 348.0M shares 348.0M shares

Balance Sheet

Concept 2018 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $321.0M $281.0M $334.0M
YoY Change 14.23% -18.79% -37.1%
Cash & Equivalents $321.0M $281.0M $267.0M
Short-Term Investments
Other Short-Term Assets $131.0M $149.0M $205.0M
YoY Change -12.08% -21.99% 1.99%
Inventory $1.330B $1.217B $1.201B
Prepaid Expenses
Receivables $1.153B $1.389B $1.512B
Other Receivables $222.0M $149.0M $0.00
Total Short-Term Assets $3.157B $3.036B $3.172B
YoY Change 3.99% 3.27% -7.28%
LONG-TERM ASSETS
Property, Plant & Equipment $3.731B $3.716B $3.629B
YoY Change 0.4% 4.12% 2.43%
Goodwill $5.504B $5.135B
YoY Change 6.54% 3.47%
Intangibles $2.639B $2.442B
YoY Change 11.4% 7.01%
Long-Term Investments $413.0M $429.0M $432.0M
YoY Change -3.73% -2.05% -0.69%
Other Assets $1.068B $1.027B $831.0M
YoY Change 3.99% 63.28% 67.2%
Total Long-Term Assets $14.62B $13.32B $12.47B
YoY Change 9.82% 9.4% 4.2%
TOTAL ASSETS
Total Short-Term Assets $3.157B $3.036B $3.172B
Total Long-Term Assets $14.62B $13.32B $12.47B
Total Assets $17.78B $16.35B $15.64B
YoY Change 8.74% 8.21% 1.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.427B $2.269B $2.140B
YoY Change 6.96% 12.66% 7.65%
Accrued Expenses $866.0M $893.0M $781.0M
YoY Change -3.02% 12.05% 11.25%
Deferred Revenue
YoY Change
Short-Term Debt $176.0M $370.0M $572.0M
YoY Change -52.43% -15.53% -26.67%
Long-Term Debt Due $510.0M $409.0M $411.0M
YoY Change 24.69% -64.06% -64.07%
Total Short-Term Liabilities $4.529B $4.522B $4.647B
YoY Change 0.15% 1.07% -11.84%
LONG-TERM LIABILITIES
Long-Term Debt $8.207B $7.836B $7.123B
YoY Change 4.73% 24.46% 13.48%
Other Long-Term Liabilities $1.155B $605.0M $491.0M
YoY Change -20.01% 30.39% 28.53%
Total Long-Term Liabilities $9.362B $605.0M $491.0M
YoY Change 0.88% 30.39% 28.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.529B $4.522B $4.647B
Total Long-Term Liabilities $9.362B $605.0M $491.0M
Total Liabilities $15.18B $5.127B $5.138B
YoY Change 7.1% 3.83% -9.11%
SHAREHOLDERS EQUITY
Retained Earnings $7.069B $6.862B
YoY Change 7.58% 2.4%
Common Stock $983.0M $956.0M
YoY Change 7.9% 9.26%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.417B $4.425B
YoY Change 10.51% 8.14%
Treasury Stock Shares 74.91M shares
Shareholders Equity $2.601B $2.178B $1.927B
YoY Change
Total Liabilities & Shareholders Equity $17.78B $16.35B $15.64B
YoY Change 8.74% 8.21% 1.65%

Cashflow Statement

Concept 2018 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $1.336B $417.0M $288.0M
YoY Change 6.54% -886.79% 2.86%
Depreciation, Depletion And Amortization $516.0M $115.0M $119.0M
YoY Change 7.28% 8.49% -12.5%
Cash From Operating Activities $1.536B $213.0M -$119.0M
YoY Change 281.14% -42.9% -118.51%
INVESTING ACTIVITIES
Capital Expenditures $578.0M -$127.0M -$138.0M
YoY Change 15.37% 0.0% 31.43%
Acquisitions $28.00M
YoY Change -95.27%
Other Investing Activities -$55.00M -$292.0M $569.0M
YoY Change 816.67% 7200.0% 5590.0%
Cash From Investing Activities -$948.0M -$419.0M $431.0M
YoY Change -736.24% 219.85% -553.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $153.0M
YoY Change -63.48%
Debt Paid & Issued, Net $408.0M
YoY Change -35.44%
Cash From Financing Activities -$566.0M 211.0M -295.0M
YoY Change -6.29% -149.41% -4.22%
NET CHANGE
Cash From Operating Activities $1.536B 213.0M -119.0M
Cash From Investing Activities -$948.0M -419.0M 431.0M
Cash From Financing Activities -$566.0M 211.0M -295.0M
Net Change In Cash $40.00M 5.000M 17.00M
YoY Change -176.92% -102.7% -92.92%
FREE CASH FLOW
Cash From Operating Activities $1.536B $213.0M -$119.0M
Capital Expenditures $578.0M -$127.0M -$138.0M
Free Cash Flow $958.0M $340.0M $19.00M
YoY Change -1077.55% -32.0% -97.46%

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0.02
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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CY2018 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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0
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
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0
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2800000000 USD
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50000000 USD
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510000000 USD
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403000000 USD
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851000000 USD
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0.05
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13700000 USD
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15900000 USD
CY2018 us-gaap Multiemployer Plan Contributions By Employer
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10400000 USD
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28000000 USD
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8200000000 USD
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4000000 USD
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118000000 USD
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1000000 USD
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444000000 USD
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596000000 USD
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0 USD
CY2018Q3 us-gaap Net Income Loss
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380000000 USD
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NetIncomeLoss
1336000000 USD
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1000000 USD
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CY2018 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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1000000 USD
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0 USD
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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70
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P6Y10M17D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y7M6D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y7M6D
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CY2017 us-gaap Treasury Stock Value Acquired Cost Method
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CY2018 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#225cab;font-weight:bold;">CONTINGENCIES</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company is subject to various legal proceedings, claims, and governmental inspections or investigations in the ordinary course of business covering matters such as general commercial, governmental regulations, antitrust and trade regulations, product liability, environmental, intellectual property, workers&#8217; compensation, employment and other actions. These matters are subject to uncertainty and the outcome is not predictable with assurance. The Company uses a combination of insurance and self-insurance for a number of risks, including workers&#8217; compensation, general liability, automobile liability and product liability. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company has established accruals for certain matters where losses are deemed probable and reasonably estimable. There are other claims and legal proceedings pending against the Company for which accruals have not been established. It is reasonably possible that some of these matters could result in an unfavorable judgment against the Company and could require payment of claims in amounts that cannot be estimated at December 29, 2018. Based upon current information, management does not expect any of the claims or legal proceedings pending against the Company to have a material impact on the Company&#8217;s consolidated financial statements.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Actual results could differ from those estimates.</font></div></div>

Files In Submission

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0001628280-19-001864.txt Edgar Link pending
0001628280-19-001864-xbrl.zip Edgar Link pending
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