2018 Q2 Form 10-Q Financial Statement

#000005578518000051 Filed on July 24, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $4.600B $4.576B
YoY Change 0.52% -0.26%
Cost Of Revenue $3.149B $2.924B
YoY Change 7.69% 0.0%
Gross Profit $1.455B $1.652B
YoY Change -11.92% -0.72%
Gross Profit Margin 31.63% 36.1%
Selling, General & Admin $756.0M $835.0M
YoY Change -9.46% -1.42%
% of Gross Profit 51.96% 50.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $224.0M $180.0M
YoY Change 24.44% 1.69%
% of Gross Profit 15.4% 10.9%
Operating Expenses $766.0M $838.0M
YoY Change -8.59% 1.45%
Operating Profit $674.0M $814.0M
YoY Change -17.2% -2.86%
Interest Expense $68.00M $85.00M
YoY Change -20.0% 4.94%
% of Operating Profit 10.09% 10.44%
Other Income/Expense, Net -$36.00M -$15.00M
YoY Change 140.0%
Pretax Income $573.0M $716.0M
YoY Change -19.97% -5.79%
Income Tax $138.0M $202.0M
% Of Pretax Income 24.08% 28.21%
Net Earnings $455.0M $531.0M
YoY Change -14.31% -6.18%
Net Earnings / Revenue 9.89% 11.6%
Basic Earnings Per Share $1.30 $1.50
Diluted Earnings Per Share $1.30 $1.49
COMMON SHARES
Basic Shares Outstanding 348.8M shares 354.4M shares
Diluted Shares Outstanding 350.3M shares 356.7M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $484.0M $1.051B
YoY Change -53.95% 60.21%
Cash & Equivalents $484.0M $1.051B
Short-Term Investments
Other Short-Term Assets $508.0M $380.0M
YoY Change 33.68% -5.47%
Inventory $1.750B $1.738B
Prepaid Expenses
Receivables $2.286B $2.221B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.028B $5.390B
YoY Change -6.72% 5.4%
LONG-TERM ASSETS
Property, Plant & Equipment $7.046B $7.246B
YoY Change -2.76% 0.81%
Goodwill $1.504B $1.527B
YoY Change -1.51% 1.33%
Intangibles
YoY Change
Long-Term Investments $257.0M $283.0M
YoY Change -9.19% -1.39%
Other Assets $729.0M $624.0M
YoY Change 16.83% -7.42%
Total Long-Term Assets $9.536B $9.680B
YoY Change -1.49% 0.25%
TOTAL ASSETS
Total Short-Term Assets $5.028B $5.390B
Total Long-Term Assets $9.536B $9.680B
Total Assets $14.56B $15.07B
YoY Change -3.36% 2.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.802B $2.629B
YoY Change 6.58% 7.39%
Accrued Expenses $1.764B $1.671B
YoY Change 5.57% -0.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.741B $1.246B
YoY Change 39.73% 61.4%
Total Short-Term Liabilities $6.655B $5.889B
YoY Change 13.01% 12.64%
LONG-TERM LIABILITIES
Long-Term Debt $5.807B $6.835B
YoY Change -15.04% -1.92%
Other Long-Term Liabilities $366.0M $296.0M
YoY Change 23.65% -10.57%
Total Long-Term Liabilities $366.0M $296.0M
YoY Change 23.65% -10.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.655B $5.889B
Total Long-Term Liabilities $366.0M $296.0M
Total Liabilities $7.021B $6.185B
YoY Change 13.52% 11.26%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $178.0M $102.0M
YoY Change
Total Liabilities & Shareholders Equity $14.56B $15.07B
YoY Change -3.36% 2.03%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $455.0M $531.0M
YoY Change -14.31% -6.18%
Depreciation, Depletion And Amortization $224.0M $180.0M
YoY Change 24.44% 1.69%
Cash From Operating Activities $787.0M $825.0M
YoY Change -4.61% -4.07%
INVESTING ACTIVITIES
Capital Expenditures -$158.0M -$171.0M
YoY Change -7.6% -3.39%
Acquisitions
YoY Change
Other Investing Activities $2.000M -$38.00M
YoY Change -105.26% -272.73%
Cash From Investing Activities -$156.0M -$209.0M
YoY Change -25.36% 34.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -747.0M -397.0M
YoY Change 88.16% -42.3%
NET CHANGE
Cash From Operating Activities 787.0M 825.0M
Cash From Investing Activities -156.0M -209.0M
Cash From Financing Activities -747.0M -397.0M
Net Change In Cash -116.0M 219.0M
YoY Change -152.97% 1188.24%
FREE CASH FLOW
Cash From Operating Activities $787.0M $825.0M
Capital Expenditures -$158.0M -$171.0M
Free Cash Flow $945.0M $996.0M
YoY Change -5.12% -3.95%

Facts In Submission

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OtherComprehensiveIncomeOtherNetOfTax
28000000 USD
CY2017Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
303000000 USD
CY2018Q2 us-gaap Other Inventory Supplies
OtherInventorySupplies
280000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
299000000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
366000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-17000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
108000000 USD
CY2017Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-3000000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-8000000 USD
CY2018Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-10000000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-8000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
10000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
12000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
597000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
420000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
674000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
691000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
386000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
347000000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
-8000000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
-14000000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
1184000000 USD
CY2018Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
1091000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
344000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-46000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-41000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
114000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
104000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
107000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
22000000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
540000000 USD
us-gaap Profit Loss
ProfitLoss
1115000000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
465000000 USD
us-gaap Profit Loss
ProfitLoss
562000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17915000000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17463000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7436000000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7046000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
12000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4000000 USD
CY2017Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
4600000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
9100000000 USD
CY2018Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
4600000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
9300000000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
4576000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
9080000000 USD
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
4604000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
9335000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
50000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
26000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
629000000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
-57000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
882000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
178000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3900000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
427000000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
356700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
357600000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
350300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
351300000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
354400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
355200000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
348800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
349600000 shares

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