2015 Q2 Form 10-Q Financial Statement

#000163745915000021 Filed on August 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q4 2014 Q2
Revenue $2.616B $4.696B $4.747B
YoY Change -44.89% 2.2% 0.66%
Cost Of Revenue $1.734B $1.550B $1.844B
YoY Change -5.97%
Gross Profit $882.0M $895.0M $803.0M
YoY Change 9.84% -53.67% -58.52%
Gross Profit Margin 33.72% 19.06% 16.92%
Selling, General & Admin $438.0M $897.0M $511.0M
YoY Change -14.29%
% of Gross Profit 49.66% 100.22% 63.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $89.00M $101.0M $163.0M
YoY Change -45.4%
% of Gross Profit 10.09% 11.28% 20.3%
Operating Expenses $438.0M $897.0M $511.0M
YoY Change -14.29%
Operating Profit $444.0M -$2.000M $374.0M
YoY Change 18.72%
Interest Expense $394.0M -$149.0M $168.0M
YoY Change 134.52%
% of Operating Profit 88.74% 44.92%
Other Income/Expense, Net -$245.0M -$32.00M -$43.00M
YoY Change 469.77%
Pretax Income -$195.0M $171.0M $169.0M
YoY Change -215.38%
Income Tax -$35.00M $6.000M $34.00M
% Of Pretax Income 3.51% 20.12%
Net Earnings -$164.0M -$398.0M $482.0M
YoY Change -134.02% -142.75% -41.86%
Net Earnings / Revenue -6.27% -8.48% 10.15%
Basic Earnings Per Share -$0.91 -$0.04 -$0.14
Diluted Earnings Per Share -$0.91 -$0.04 -$0.14
COMMON SHARES
Basic Shares Outstanding 380.0M shares
Diluted Shares Outstanding 380.0M shares

Balance Sheet

Concept 2015 Q2 2014 Q4 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.147B
YoY Change
Cash & Equivalents $2.147B $2.298B $2.805B
Short-Term Investments
Other Short-Term Assets $68.00M $581.0M
YoY Change 193.43%
Inventory $1.162B $1.185B
Prepaid Expenses $191.0M $139.0M
Receivables $795.0M $690.0M
Other Receivables $226.0M $384.0M
Total Short-Term Assets $4.589B $4.915B
YoY Change 0.14%
LONG-TERM ASSETS
Property, Plant & Equipment $2.253B $2.365B
YoY Change -42.53%
Goodwill $14.74B $14.96B
YoY Change 30.02%
Intangibles $13.19B
YoY Change 491.66%
Long-Term Investments
YoY Change
Other Assets $1.537B $1.144B
YoY Change 192.58%
Total Long-Term Assets $31.47B $31.66B
YoY Change 73.55%
TOTAL ASSETS
Total Short-Term Assets $4.589B $4.915B
Total Long-Term Assets $31.47B $31.66B
Total Assets $36.06B $36.57B
YoY Change 57.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.509B $1.537B
YoY Change -0.71%
Accrued Expenses $171.0M $167.0M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.000M $59.00M
YoY Change
Long-Term Debt Due $10.00M
YoY Change
Total Short-Term Liabilities $2.653B $3.092B
YoY Change -9.33%
LONG-TERM LIABILITIES
Long-Term Debt $13.63B
YoY Change
Other Long-Term Liabilities $448.0M $282.0M
YoY Change -34.11%
Total Long-Term Liabilities $18.11B $17.99B
YoY Change 4102.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.653B $3.092B
Total Long-Term Liabilities $18.11B $17.99B
Total Liabilities $20.76B $20.89B
YoY Change 16.29%
SHAREHOLDERS EQUITY
Retained Earnings $0.00 $0.00
YoY Change -100.0%
Common Stock $4.000M $4.682B
YoY Change 5.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change -100.0%
Treasury Stock Shares 0.000 shares
Shareholders Equity $15.06B $7.117B
YoY Change
Total Liabilities & Shareholders Equity $36.06B $36.57B
YoY Change 57.99%

Cashflow Statement

Concept 2015 Q2 2014 Q4 2014 Q2
OPERATING ACTIVITIES
Net Income -$164.0M -$398.0M $482.0M
YoY Change -134.02% -142.75% -41.86%
Depreciation, Depletion And Amortization $89.00M $101.0M $163.0M
YoY Change -45.4%
Cash From Operating Activities $494.0M $809.0M $545.0M
YoY Change -9.36%
INVESTING ACTIVITIES
Capital Expenditures -$110.0M -$152.0M -$91.00M
YoY Change 20.88%
Acquisitions
YoY Change
Other Investing Activities $309.0M $12.00M $20.00M
YoY Change 1445.0%
Cash From Investing Activities $199.0M -$140.0M -$71.00M
YoY Change -380.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -165.0M -1.210B -191.0M
YoY Change -13.61%
NET CHANGE
Cash From Operating Activities 494.0M 809.0M 545.0M
Cash From Investing Activities 199.0M -140.0M -71.00M
Cash From Financing Activities -165.0M -1.210B -191.0M
Net Change In Cash 528.0M -541.0M 283.0M
YoY Change 86.57%
FREE CASH FLOW
Cash From Operating Activities $494.0M $809.0M $545.0M
Capital Expenditures -$110.0M -$152.0M -$91.00M
Free Cash Flow $604.0M $961.0M $636.0M
YoY Change -5.03%

Facts In Submission

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us-gaap Restructuring And Related Cost Incurred Cost
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us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
284000000 USD
CY2015Q2 us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
66000000 USD
us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
131000000 USD
CY2014Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
79000000 USD
CY2015Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
41000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
0 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
0 USD
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2729000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5529000000 USD
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2616000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5094000000 USD
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
511000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1032000000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
473000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
934000000 USD
CY2014Q2 us-gaap Severance Costs1
SeveranceCosts1
30000000 USD
us-gaap Severance Costs1
SeveranceCosts1
84000000 USD
CY2015Q2 us-gaap Severance Costs1
SeveranceCosts1
8000000 USD
us-gaap Severance Costs1
SeveranceCosts1
13000000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2000000 USD
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2000000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8000000 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10000000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
0 shares
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
59000000 USD
CY2015Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
2000000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7336000000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6954000000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
232000000 USD
CY2015Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
171000000 USD
CY2014Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
29000000 USD
CY2015Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
27000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
71000000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
75000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
8000000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
7000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
13000000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
13000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
58000000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
63000000 USD
CY2014Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
367000000 USD
CY2015Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0 USD
CY2013Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
367000000 USD
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
377000000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
377000000 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
380000000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
379000000 shares
CY2015Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
32000000 USD

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