2015 Q3 Form 10-Q Financial Statement

#000160104615000033 Filed on September 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3 2014 Q2
Revenue $665.0M $757.0M $743.0M
YoY Change -12.15% 7.99% -2.24%
Cost Of Revenue $295.0M $343.0M $328.0M
YoY Change -13.99% 10.65% -1.8%
Gross Profit $370.0M $414.0M $415.0M
YoY Change -10.63% 5.88% -2.58%
Gross Profit Margin 55.64% 54.69% 55.85%
Selling, General & Admin $183.0M $202.0M $199.0M
YoY Change -9.41% 12.85% 0.51%
% of Gross Profit 49.46% 48.79% 47.95%
Research & Development $90.00M $91.00M $89.00M
YoY Change -1.1% 0.0% -10.1%
% of Gross Profit 24.32% 21.98% 21.45%
Depreciation & Amortization $23.00M $20.00M $20.00M
YoY Change 15.0% 5.26% 5.26%
% of Gross Profit 6.22% 4.83% 4.82%
Operating Expenses $273.0M $293.0M $288.0M
YoY Change -6.83% 8.52% -3.03%
Operating Profit $100.0M $121.0M $127.0M
YoY Change -17.36% 0.0% -1.55%
Interest Expense $12.00M $0.00 $0.00
YoY Change
% of Operating Profit 12.0% 0.0% 0.0%
Other Income/Expense, Net -$1.000M $1.000M $1.000M
YoY Change -200.0% 0.0% -80.0%
Pretax Income $124.0M $158.0M $157.0M
YoY Change -21.52% 29.51% 17.16%
Income Tax $17.00M $15.00M $18.00M
% Of Pretax Income 13.71% 9.49% 11.46%
Net Earnings $70.00M $107.0M $110.0M
YoY Change -34.58% -3.6% -9.09%
Net Earnings / Revenue 10.53% 14.13% 14.8%
Basic Earnings Per Share $0.41 $0.64 $0.66
Diluted Earnings Per Share $0.41 $0.64 $0.66
COMMON SHARES
Basic Shares Outstanding 169.0M shares 167.0M shares 167.0M shares
Diluted Shares Outstanding 172.0M shares 167.0M shares 167.0M shares

Balance Sheet

Concept 2015 Q3 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.000B $0.00 $0.00
YoY Change
Cash & Equivalents $1.000B $0.00 $0.00
Short-Term Investments
Other Short-Term Assets $119.0M $154.0M $144.0M
YoY Change -22.73%
Inventory $478.0M $516.0M $518.0M
Prepaid Expenses
Receivables $313.0M $319.0M $335.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.983B $989.0M $997.0M
YoY Change 100.51%
LONG-TERM ASSETS
Property, Plant & Equipment $462.0M $462.0M $462.0M
YoY Change 0.0%
Goodwill $372.0M
YoY Change
Intangibles $12.00M
YoY Change
Long-Term Investments $70.00M $60.00M $50.00M
YoY Change 16.67%
Other Assets $86.00M $69.00M $74.00M
YoY Change 24.64%
Total Long-Term Assets $1.114B $1.010B $1.013B
YoY Change 10.3%
TOTAL ASSETS
Total Short-Term Assets $1.983B $989.0M $997.0M
Total Long-Term Assets $1.114B $1.010B $1.013B
Total Assets $3.097B $1.999B $2.010B
YoY Change 54.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $171.0M $112.0M $157.0M
YoY Change 52.68%
Accrued Expenses $225.0M $174.0M $191.0M
YoY Change 29.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $620.0M $551.0M $610.0M
YoY Change 12.52%
LONG-TERM LIABILITIES
Long-Term Debt $1.099B $0.00 $0.00
YoY Change
Other Long-Term Liabilities $52.00M $187.0M $191.0M
YoY Change -72.19%
Total Long-Term Liabilities $1.151B $187.0M $191.0M
YoY Change 515.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $620.0M $551.0M $610.0M
Total Long-Term Liabilities $1.151B $187.0M $191.0M
Total Liabilities $1.992B $738.0M $801.0M
YoY Change 169.92%
SHAREHOLDERS EQUITY
Retained Earnings $337.0M
YoY Change
Common Stock $2.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.105B $1.261B $1.209B
YoY Change
Total Liabilities & Shareholders Equity $3.097B $1.999B $2.010B
YoY Change 54.93%

Cashflow Statement

Concept 2015 Q3 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $70.00M $107.0M $110.0M
YoY Change -34.58% -3.6% -9.09%
Depreciation, Depletion And Amortization $23.00M $20.00M $20.00M
YoY Change 15.0% 5.26% 5.26%
Cash From Operating Activities $135.0M $87.00M $140.0M
YoY Change 55.17% -24.35% -7.89%
INVESTING ACTIVITIES
Capital Expenditures -$35.00M -$18.00M -$23.00M
YoY Change 94.44% -14.29% 43.75%
Acquisitions
YoY Change
Other Investing Activities -$7.000M $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$42.00M -$18.00M -$23.00M
YoY Change 133.33% -18.18% 43.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.00M -69.00M -117.0M
YoY Change -123.19% -25.81% -13.97%
NET CHANGE
Cash From Operating Activities 135.0M 87.00M 140.0M
Cash From Investing Activities -42.00M -18.00M -23.00M
Cash From Financing Activities 16.00M -69.00M -117.0M
Net Change In Cash 109.0M 0.000 0.000
YoY Change
FREE CASH FLOW
Cash From Operating Activities $135.0M $87.00M $140.0M
Capital Expenditures -$35.00M -$18.00M -$23.00M
Free Cash Flow $170.0M $105.0M $163.0M
YoY Change 61.9% -22.79% -2.98%

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CY2014Q3 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax
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CY2014Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax
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us-gaap Depreciation Depletion And Amortization
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us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
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us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
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CY2014Q4 us-gaap Due To Related Parties Current
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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150000000 USD
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2000000 USD
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CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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162000000 USD
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0 USD
us-gaap Finite Lived Intangible Assets Translation Adjustments
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0 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Translation Adjustments
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0 USD
us-gaap Finite Lived Intangible Assets Translation Adjustments
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0 USD
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us-gaap Finitelived Intangible Assets Acquired1
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0 USD
us-gaap Finitelived Intangible Assets Acquired1
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CY2014Q4 us-gaap Goodwill
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372000000 USD
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us-gaap Goodwill Acquired During Period
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us-gaap Goodwill Acquired During Period
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158000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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433000000 USD
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124000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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402000000 USD
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122000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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342000000 USD
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87000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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287000000 USD
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us-gaap Income Tax Expense Benefit
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51000000 USD
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us-gaap Income Taxes Paid Net
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us-gaap Increase Decrease In Inventories
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40000000 USD
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25000000 USD
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us-gaap Increase Decrease In Pension And Postretirement Obligations
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Interest Expense
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CY2015Q3 us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Interest Expense Deposits
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CY2015Q3 us-gaap Interest Expense Deposits
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12000000 USD
us-gaap Interest Expense Deposits
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35000000 USD
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us-gaap Interest Expense Long Term Debt
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219000000 USD
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224000000 USD
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498000000 USD
CY2015Q3 us-gaap Inventory Net
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CY2014Q4 us-gaap Inventory Work In Process And Raw Materials
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CY2015Q3 us-gaap Inventory Work In Process And Raw Materials
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us-gaap Inventory Write Down
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us-gaap Inventory Write Down
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us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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CY2015Q3 us-gaap Liabilities
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1992000000 USD
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3050000000 USD
CY2015Q3 us-gaap Liabilities And Stockholders Equity
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CY2015Q3 us-gaap Liabilities Current
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620000000 USD
us-gaap Line Of Credit Facility Expiration Date1
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2019-11-01
us-gaap Line Of Credit Facility Initiation Date1
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CY2014Q4 us-gaap Long Term Debt Noncurrent
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CY2015Q3 us-gaap Long Term Investments
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us-gaap Net Cash Provided By Used In Financing 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
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us-gaap Net Cash Provided By Used In Operating Activities
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362000000 USD
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295000000 USD
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Cost Credit Arising During Period Before Tax
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us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Cost Credit Arising During Period Before Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2015Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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0 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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8000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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22000000 USD
CY2014Q3 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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0 USD
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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0 USD
CY2015Q3 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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3000000 USD
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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CY2014Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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9000000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
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167000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167000000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
169000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
169000000 shares

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