2017 Q3 Form 10-Q Financial Statement

#000162828017009782 Filed on October 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $3.261B $2.834B
YoY Change 15.09% 13.73%
Cost Of Revenue $2.744B $2.387B
YoY Change 14.97% 11.38%
Gross Profit $650.4M $551.7M
YoY Change 17.9% 3.82%
Gross Profit Margin 19.94% 19.47%
Selling, General & Admin $72.90M $61.20M
YoY Change 19.12% 8.32%
% of Gross Profit 11.21% 11.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.50M $13.00M
YoY Change 34.62% 12.07%
% of Gross Profit 2.69% 2.36%
Operating Expenses $84.20M $37.80M
YoY Change 122.75% -26.03%
Operating Profit $441.2M $400.7M
YoY Change 10.11% 6.25%
Interest Expense -$64.90M $973.0K
YoY Change -6770.09% -65.4%
% of Operating Profit -14.71% 0.24%
Other Income/Expense, Net
YoY Change
Pretax Income $368.4M $339.6M
YoY Change 8.49% 5.89%
Income Tax $124.8M $106.4M
% Of Pretax Income 33.88% 31.34%
Net Earnings $249.2M $235.8M
YoY Change 5.65% 5.61%
Net Earnings / Revenue 7.64% 8.32%
Basic Earnings Per Share $1.04 $1.02
Diluted Earnings Per Share $1.04 $0.99
COMMON SHARES
Basic Shares Outstanding 237.3M shares 223.5M shares
Diluted Shares Outstanding 237.3M shares 231.8M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $838.0M $816.0M
YoY Change 2.7% 1.37%
Cash & Equivalents $837.7M $816.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $10.92B $9.656B
Prepaid Expenses
Receivables $374.0M $454.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $12.13B $10.93B
YoY Change 11.06% 8.24%
LONG-TERM ASSETS
Property, Plant & Equipment $180.0M $148.0M
YoY Change 21.62% 4.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.955B $1.538B
YoY Change 27.11% 28.6%
Other Assets $716.0M $826.0M
YoY Change -13.32% -1.78%
Total Long-Term Assets $4.805B $4.073B
YoY Change 17.99% -0.07%
TOTAL ASSETS
Total Short-Term Assets $12.13B $10.93B
Total Long-Term Assets $4.805B $4.073B
Total Assets $16.94B $15.00B
YoY Change 12.94% 5.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $653.0M $566.0M
YoY Change 15.37% 14.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $653.0M $566.0M
YoY Change 15.37% 14.11%
LONG-TERM LIABILITIES
Long-Term Debt $6.861B $6.410B
YoY Change 7.04% -6.48%
Other Long-Term Liabilities $1.766B $1.259B
YoY Change 40.27% 9.96%
Total Long-Term Liabilities $8.627B $7.669B
YoY Change 12.49% -4.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $653.0M $566.0M
Total Long-Term Liabilities $8.627B $7.669B
Total Liabilities $9.280B $8.236B
YoY Change 12.68% -3.05%
SHAREHOLDERS EQUITY
Retained Earnings $4.779B $4.002B
YoY Change 19.42% 26.78%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $136.1M $108.9M
YoY Change 24.92% 1.14%
Treasury Stock Shares
Shareholders Equity $7.554B $6.546B
YoY Change
Total Liabilities & Shareholders Equity $16.94B $15.00B
YoY Change 12.94% 5.85%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $249.2M $235.8M
YoY Change 5.65% 5.61%
Depreciation, Depletion And Amortization $17.50M $13.00M
YoY Change 34.62% 12.07%
Cash From Operating Activities $487.5M $172.3M
YoY Change 182.94% -283.49%
INVESTING ACTIVITIES
Capital Expenditures -$20.10M -$15.60M
YoY Change 28.85% 52.94%
Acquisitions
YoY Change
Other Investing Activities -$63.90M $48.60M
YoY Change -231.48% 2600.0%
Cash From Investing Activities -$84.10M $32.90M
YoY Change -355.62% -491.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -549.7M -204.6M
YoY Change 168.67% 1523.81%
NET CHANGE
Cash From Operating Activities 487.5M 172.3M
Cash From Investing Activities -84.10M 32.90M
Cash From Financing Activities -549.7M -204.6M
Net Change In Cash -146.3M 600.0K
YoY Change -24483.33% -100.52%
FREE CASH FLOW
Cash From Operating Activities $487.5M $172.3M
Capital Expenditures -$20.10M -$15.60M
Free Cash Flow $507.6M $187.9M
YoY Change 170.14% -324.49%

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications/Revisions</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As a result of the Company's change in reportable segments during fiscal year 2016, the Company restated certain prior year amounts in the condensed consolidated financial statements to conform with the 2017 presentation (see Note 3). In addition, certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform with the 2017 presentation. These reclassifications had no impact on the Company's condensed consolidated financial statements.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>

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