2017 Q4 Form 10-Q Financial Statement

#000092935118000009 Filed on February 08, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $1.143B $752.3M
YoY Change 51.89% 12.2%
Cost Of Revenue $649.9M $430.0M
YoY Change 51.14% 6.41%
Gross Profit $492.8M $322.0M
YoY Change 53.04% 20.83%
Gross Profit Margin 43.13% 42.8%
Selling, General & Admin $351.3M $264.0M
YoY Change 33.07% -3.37%
% of Gross Profit 71.29% 81.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.70M $13.20M
YoY Change 200.76% 340.0%
% of Gross Profit 8.06% 4.1%
Operating Expenses $391.0M $277.0M
YoY Change 41.16% 0.33%
Operating Profit $80.20M -$7.400M
YoY Change -1183.78% -23.71%
Interest Expense $46.30M $27.40M
YoY Change 68.98% 95.71%
% of Operating Profit 57.73%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$13.10M -$42.70M
YoY Change -69.32% 255.83%
Income Tax -$204.2M -$12.20M
% Of Pretax Income
Net Earnings $193.0M -$30.60M
YoY Change -730.72% -175.18%
Net Earnings / Revenue 16.89% -4.07%
Basic Earnings Per Share $0.92 -$0.19
Diluted Earnings Per Share $0.87 -$0.19
COMMON SHARES
Basic Shares Outstanding 208.8M shares 161.4M shares
Diluted Shares Outstanding 221.6M shares 161.4M shares

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $216.7M $595.0M
YoY Change -63.58% 573.84%
Cash & Equivalents $216.7M $594.7M
Short-Term Investments
Other Short-Term Assets $216.2M $259.0M
YoY Change -16.53% 9492.59%
Inventory $237.0M $263.0M
Prepaid Expenses
Receivables $905.1M $777.0M
Other Receivables $145.9M $208.0M
Total Short-Term Assets $1.554B $1.870B
YoY Change -16.92% -27.99%
LONG-TERM ASSETS
Property, Plant & Equipment $156.5M $168.0M
YoY Change -6.85% 300.82%
Goodwill $2.741B $2.734B
YoY Change 0.25% 411.85%
Intangibles $1.965B $2.024B
YoY Change -2.92%
Long-Term Investments $136.8M $314.0M
YoY Change -56.43% 14.37%
Other Assets $420.2M $405.0M
YoY Change 3.75% 126.89%
Total Long-Term Assets $7.189B $7.510B
YoY Change -4.27% 504.91%
TOTAL ASSETS
Total Short-Term Assets $1.554B $1.870B
Total Long-Term Assets $7.189B $7.510B
Total Assets $8.743B $9.380B
YoY Change -6.79% 144.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $372.0M $531.0M
YoY Change -29.94% 61.99%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $388.5M $375.0M
YoY Change 3.6%
Total Short-Term Liabilities $1.529B $1.585B
YoY Change -3.56% 383.53%
LONG-TERM LIABILITIES
Long-Term Debt $3.334B $4.505B
YoY Change -25.99% 182.53%
Other Long-Term Liabilities $49.00M $33.00M
YoY Change 48.48% -96.21%
Total Long-Term Liabilities $49.00M $33.00M
YoY Change 48.48% -98.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.529B $1.585B
Total Long-Term Liabilities $49.00M $33.00M
Total Liabilities $1.578B $1.618B
YoY Change -2.5% -42.09%
SHAREHOLDERS EQUITY
Retained Earnings $448.3M -$52.00M
YoY Change -962.12% -777.7%
Common Stock $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.060B $2.322B
YoY Change
Total Liabilities & Shareholders Equity $8.743B $9.380B
YoY Change -6.79% 144.37%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $193.0M -$30.60M
YoY Change -730.72% -175.18%
Depreciation, Depletion And Amortization $39.70M $13.20M
YoY Change 200.76% 340.0%
Cash From Operating Activities $32.70M $219.6M
YoY Change -85.11% 278.62%
INVESTING ACTIVITIES
Capital Expenditures -$7.100M -$1.067B
YoY Change -99.33% -15786.76%
Acquisitions
YoY Change
Other Investing Activities -$20.10M -$7.900M
YoY Change 154.43% -93.82%
Cash From Investing Activities -$27.20M -$1.075B
YoY Change -97.47% 697.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.00M 1.341B
YoY Change -101.04% -25894.23%
NET CHANGE
Cash From Operating Activities 32.70M 219.6M
Cash From Investing Activities -27.20M -1.075B
Cash From Financing Activities -14.00M 1.341B
Net Change In Cash -8.500M 486.3M
YoY Change -101.75% -693.05%
FREE CASH FLOW
Cash From Operating Activities $32.70M $219.6M
Capital Expenditures -$7.100M -$1.067B
Free Cash Flow $39.80M $1.286B
YoY Change -96.91% 2412.3%

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ProfitLoss
378500000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
165500000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
156500000 USD
CY2017Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
93800000 USD
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
98500000 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
2252000000 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
992100000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2800000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
10600000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
448300000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
752300000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1945400000 USD
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
1142700000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
3088800000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
74400000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
74500000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
17000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
56900000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
31800000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
2514400000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3060100000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2514400000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3060700000 USD
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
6100000 USD
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
5400000 USD
CY2016Q1 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
90500000 USD
CY2016Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
94300000 USD
CY2017Q1 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
93800000 USD
CY2017Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
98500000 USD
us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
-200000 USD
us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
300000 USD
us-gaap Temporary Equity Other Changes
TemporaryEquityOtherChanges
3800000 USD
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
161400000 shares
us-gaap Temporary Equity Other Changes
TemporaryEquityOtherChanges
4500000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152200000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
221600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
219700000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
161400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152200000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
208800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
207800000 shares
CY2017Q4 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
1800000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
19800000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;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%;padding-top:6px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs used for the amortization of investment in films and television programs; the allocations made in connection with the amortization of program rights; estimates of sales returns and other allowances and provisions for doubtful accounts; fair value of equity-based compensation; fair value of assets and liabilities for allocation of the purchase price of companies acquired; income taxes including the assessment of valuation allowances for deferred tax assets; accruals for contingent liabilities; and impairment assessments for investment in films and television programs, property and equipment, equity investments, goodwill and intangible assets. Actual results could differ from such estimates.</font></div></div>

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