2017 Form 10-K Financial Statement

#000150630718000010 Filed on February 09, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016
Revenue $13.71B $3.389B $13.06B
YoY Change 4.95% -6.79% -9.34%
Cost Of Revenue $4.345B $1.603B $3.429B
YoY Change 26.71% 9.49% -15.52%
Gross Profit $9.360B $1.786B $9.629B
YoY Change -2.79% -17.77% -6.91%
Gross Profit Margin 68.3% 52.7% 73.74%
Selling, General & Admin $1.086B $216.0M $1.090B
YoY Change -0.37% -13.6% -3.45%
% of Gross Profit 11.6% 12.09% 11.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.261B $557.0M $2.209B
YoY Change 2.35% -4.62% -4.33%
% of Gross Profit 24.16% 31.19% 22.94%
Operating Expenses $3.346B $772.0M $3.298B
YoY Change 1.46% -7.66% -3.99%
Operating Profit $3.529B $1.014B $3.538B
YoY Change -0.25% -24.1% 44.59%
Interest Expense -$1.832B -$268.0M -$1.309B
YoY Change 39.95% -39.5% -20.04%
% of Operating Profit -51.91% -26.43% -37.0%
Other Income/Expense, Net -$1.368B -$12.00M -$1.900B
YoY Change -28.0% 500.0% 13.43%
Pretax Income $2.161B $388.0M $1.638B
YoY Change 31.93% -155.99% 112.18%
Income Tax $1.938B $173.0M $917.0M
% Of Pretax Income 89.68% 44.59% 55.98%
Net Earnings $183.0M $209.0M $708.0M
YoY Change -74.15% -130.07% 179.84%
Net Earnings / Revenue 1.34% 6.17% 5.42%
Basic Earnings Per Share $0.01 $0.25
Diluted Earnings Per Share $0.01 $93.60K $0.25
COMMON SHARES
Basic Shares Outstanding 2.230B shares 2.232B shares 2.230B shares
Diluted Shares Outstanding 2.230B shares 2.230B shares

Balance Sheet

Concept 2017 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $264.0M $684.0M $684.0M
YoY Change -61.4% 198.69% 198.69%
Cash & Equivalents $264.0M $684.0M $684.0M
Short-Term Investments
Other Short-Term Assets $414.0M $337.0M $638.0M
YoY Change -35.11% 26.69% -26.92%
Inventory $424.0M $357.0M $357.0M
Prepaid Expenses
Receivables $1.448B $1.370B $1.370B
Other Receivables $165.0M $180.0M $180.0M
Total Short-Term Assets $2.715B $3.229B $3.229B
YoY Change -15.92% 14.34% 14.34%
LONG-TERM ASSETS
Property, Plant & Equipment $40.16B $38.71B $38.71B
YoY Change 3.75% -4.54% -4.54%
Goodwill $22.15B
YoY Change -6.89%
Intangibles $3.318B
YoY Change -6.56%
Long-Term Investments $7.298B $7.027B $7.027B
YoY Change 3.86% 16.5% 16.34%
Other Assets $3.626B $1.522B $5.874B
YoY Change -38.27% -24.99% -20.1%
Total Long-Term Assets $76.34B $77.08B $77.08B
YoY Change -0.95% -5.17% -5.17%
TOTAL ASSETS
Total Short-Term Assets $2.715B $3.229B $3.229B
Total Long-Term Assets $76.34B $77.08B $77.08B
Total Assets $79.06B $80.31B $80.31B
YoY Change -1.56% -4.52% -4.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.340B $1.257B $1.257B
YoY Change 6.6% 5.45% -5.06%
Accrued Expenses $912.0M $886.0M $886.0M
YoY Change 2.93% -10.78% -10.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.828B $2.696B $2.696B
YoY Change 4.9% 169.6% 228.38%
Total Short-Term Liabilities $6.181B $5.924B $5.924B
YoY Change 4.34% 45.73% 45.73%
LONG-TERM LIABILITIES
Long-Term Debt $35.02B $37.35B $37.35B
YoY Change -6.26% -11.91% -11.91%
Other Long-Term Liabilities $2.735B $2.225B $2.225B
YoY Change 22.92% -0.22% -0.22%
Total Long-Term Liabilities $37.75B $39.58B $39.58B
YoY Change -4.62% -11.33% -11.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.181B $5.924B $5.924B
Total Long-Term Liabilities $37.75B $39.58B $39.58B
Total Liabilities $45.42B $45.50B $45.87B
YoY Change -0.99% -6.57% -6.35%
SHAREHOLDERS EQUITY
Retained Earnings -$6.669B
YoY Change 9.27%
Common Stock $22.00M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.64B $34.43B $34.43B
YoY Change
Total Liabilities & Shareholders Equity $79.06B $80.31B $80.31B
YoY Change -1.56% -4.52% -4.52%

Cashflow Statement

Concept 2017 2016 Q4 2016
OPERATING ACTIVITIES
Net Income $183.0M $209.0M $708.0M
YoY Change -74.15% -130.07% 179.84%
Depreciation, Depletion And Amortization $2.261B $557.0M $2.209B
YoY Change 2.35% -4.62% -4.33%
Cash From Operating Activities $4.601B $1.255B $4.758B
YoY Change -3.3% -30.51% -10.45%
INVESTING ACTIVITIES
Capital Expenditures $3.188B -$773.0M $2.882B
YoY Change 10.62% -13.82% -26.03%
Acquisitions $4.000M $333.0M
YoY Change -98.8% -83.98%
Other Investing Activities -$4.000M $195.0M -$1.000M
YoY Change 300.0% -324.14% -98.98%
Cash From Investing Activities -$3.403B -$578.0M -$1.625B
YoY Change 109.42% -41.26% -71.52%
FINANCING ACTIVITIES
Cash Dividend Paid $1.120B $1.118B
YoY Change 0.18% -73.53%
Common Stock Issuance & Retirement, Net $250.0M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.681B -305.0M -$2.637B
YoY Change -36.25% -60.34% -931.86%
NET CHANGE
Cash From Operating Activities $4.601B 1.255B $4.758B
Cash From Investing Activities -$3.403B -578.0M -$1.625B
Cash From Financing Activities -$1.681B -305.0M -$2.637B
Net Change In Cash -$461.0M 372.0M $498.0M
YoY Change -192.57% 601.89% -755.26%
FREE CASH FLOW
Cash From Operating Activities $4.601B $1.255B $4.758B
Capital Expenditures $3.188B -$773.0M $2.882B
Free Cash Flow $1.413B $2.028B $1.876B
YoY Change -24.68% -24.97% 32.39%

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13000000 USD
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48000000 USD
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271000000 USD
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573000000 USD
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756000000 USD
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301000000 USD
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40000000 USD
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227000000 USD
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552000000 USD
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27000000 USD
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100000000 USD
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1681000000 USD
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43000000 USD
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0 USD
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30000000 USD
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240000000 USD
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3544000000 USD
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81000000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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106000000 USD
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300000000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
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337000000 USD
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238000000 USD
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1582000000 USD
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122000000 USD
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14000000 USD
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CY2016 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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7000000 USD
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0 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
14000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
9000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
2000000 USD
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-13000000 USD
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2193000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2230000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2230000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2187000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2230000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2230000000 shares
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts included in or affecting our financial statements and related disclosures must be estimated, requiring us to make certain assumptions with respect to values or conditions which cannot be known with certainty at the time our financial statements are prepared. These estimates and assumptions affect the amounts we report for assets and liabilities, our revenues and expenses during the reporting period, and our disclosures, including as it relates to contingent assets and liabilities at the date of our financial statements. We evaluate these estimates on an ongoing basis, utilizing historical experience, consultation with experts and other methods we consider reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from our estimates. Any effects on our business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain accounting policies are of more significance in our financial statement preparation process than others, and set out below are the principal accounting policies we apply in the preparation of our consolidated financial statements.</font></div></div>

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