2015 Q2 Form 10-Q Financial Statement

#000092014815000097 Filed on July 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2 2013 Q3
Revenue $2.269B $1.516B $1.462B
YoY Change 49.64% 3.28% 3.02%
Cost Of Revenue $1.496B $947.8M $914.6M
YoY Change 57.88% 6.39% 5.94%
Gross Profit $772.6M $568.6M $547.6M
YoY Change 35.88% -1.51% -1.53%
Gross Profit Margin 34.05% 37.5% 37.45%
Selling, General & Admin $390.5M $297.9M $279.0M
YoY Change 31.08% 6.05% -2.14%
% of Gross Profit 50.54% 52.39% 50.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $44.60M $62.80M $57.90M
YoY Change -28.98% 10.37% 0.52%
% of Gross Profit 5.77% 11.04% 10.57%
Operating Expenses $390.5M $297.9M $279.0M
YoY Change 31.08% 6.05% -2.14%
Operating Profit $323.3M $246.7M $244.6M
YoY Change 31.05% -8.39% -0.2%
Interest Expense $57.90M $25.80M $24.70M
YoY Change 124.42% 11.69% 2.49%
% of Operating Profit 17.91% 10.46% 10.1%
Other Income/Expense, Net -$57.00M -$14.20M -$14.60M
YoY Change 301.41% -173.58% -3020.0%
Pretax Income $262.8M $232.5M $230.0M
YoY Change 13.03% -7.0% 1.37%
Income Tax $96.20M $90.80M $81.30M
% Of Pretax Income 36.61% 39.05% 35.35%
Net Earnings $169.9M $141.3M $148.3M
YoY Change 20.24% -6.98% 0.2%
Net Earnings / Revenue 7.49% 9.32% 10.14%
Basic Earnings Per Share $1.69 $1.67 $1.66
Diluted Earnings Per Share $1.66 $1.64 $1.63
COMMON SHARES
Basic Shares Outstanding 100.7M shares 84.70M shares 89.20M shares
Diluted Shares Outstanding 102.5M shares 86.30M shares 90.90M shares

Balance Sheet

Concept 2015 Q2 2014 Q2 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $619.0M $480.0M $174.0M
YoY Change 28.96% 332.43% -62.66%
Cash & Equivalents $619.0M $479.5M $575.7M
Short-Term Investments
Other Short-Term Assets $420.0M $119.0M $99.00M
YoY Change 252.94% 26.6% -2.94%
Inventory $182.0M $134.5M $126.5M
Prepaid Expenses $387.3M $115.2M $79.90M
Receivables $1.201B $832.6M $813.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.586B $1.566B $1.213B
YoY Change 65.14% 36.4% -16.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.832B $741.2M $672.6M
YoY Change 147.14% 14.58% 9.87%
Goodwill $6.137B $3.069B $2.991B
YoY Change 99.94% 2.77% 3.94%
Intangibles $3.645B $1.546B $1.601B
YoY Change 135.79% -3.77% -4.25%
Long-Term Investments $69.00M $97.00M $87.00M
YoY Change -28.87% 10.23% 7.41%
Other Assets $197.4M $126.2M $122.1M
YoY Change 56.42% 8.23% 5.53%
Total Long-Term Assets $11.88B $5.579B $5.474B
YoY Change 112.93% 2.48% 2.15%
TOTAL ASSETS
Total Short-Term Assets $2.586B $1.566B $1.213B
Total Long-Term Assets $11.88B $5.579B $5.474B
Total Assets $14.47B $7.145B $6.687B
YoY Change 102.46% 8.39% -1.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $438.8M $280.6M $262.0M
YoY Change 56.38% 10.73% 5.9%
Accrued Expenses $567.7M $362.6M $308.2M
YoY Change 56.56% 28.67% -20.34%
Deferred Revenue
YoY Change
Short-Term Debt $420.0M $0.00 $0.00
YoY Change
Long-Term Debt Due $254.0M $98.00M $110.0M
YoY Change 159.18% -18.33% -77.32%
Total Short-Term Liabilities $1.823B $740.8M $680.6M
YoY Change 146.1% 13.08% -39.2%
LONG-TERM LIABILITIES
Long-Term Debt $6.113B $2.910B $2.554B
YoY Change 110.08% 21.75% 17.4%
Other Long-Term Liabilities $370.1M $249.8M $303.7M
YoY Change 48.16% -17.8% 35.94%
Total Long-Term Liabilities $6.483B $3.160B $2.857B
YoY Change 105.19% 17.29% 19.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.823B $740.8M $680.6M
Total Long-Term Liabilities $6.483B $3.160B $2.857B
Total Liabilities $9.679B $4.469B $4.101B
YoY Change 116.58% 14.35% 0.6%
SHAREHOLDERS EQUITY
Retained Earnings $3.956B $3.553B $3.462B
YoY Change 11.34% -0.6% -3.51%
Common Stock $1.890B $10.40M $10.70M
YoY Change 18069.23% -5.45% -6.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $975.9M $965.5M $958.9M
YoY Change 1.08% 0.69% 0.75%
Treasury Stock Shares
Shareholders Equity $4.766B $2.656B $2.656B
YoY Change
Total Liabilities & Shareholders Equity $14.47B $7.145B $6.687B
YoY Change 102.46% 8.39% -1.87%

Cashflow Statement

Concept 2015 Q2 2014 Q2 2013 Q3
OPERATING ACTIVITIES
Net Income $169.9M $141.3M $148.3M
YoY Change 20.24% -6.98% 0.2%
Depreciation, Depletion And Amortization $44.60M $62.80M $57.90M
YoY Change -28.98% 10.37% 0.52%
Cash From Operating Activities $207.4M $234.2M
YoY Change 50.73% 14.92%
INVESTING ACTIVITIES
Capital Expenditures -$48.10M -$52.10M
YoY Change -1.43% 17.87%
Acquisitions
YoY Change
Other Investing Activities $9.000M $4.900M
YoY Change -110.08% -101.84%
Cash From Investing Activities -$39.10M -$47.20M
YoY Change -71.69% -84.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.40M -126.8M
YoY Change -65.72% -128.39%
NET CHANGE
Cash From Operating Activities 207.4M 234.2M
Cash From Investing Activities -39.10M -47.20M
Cash From Financing Activities -25.40M -126.8M
Net Change In Cash 142.9M 60.20M
YoY Change -291.55% -82.28%
FREE CASH FLOW
Cash From Operating Activities $207.4M $234.2M
Capital Expenditures -$48.10M -$52.10M
Free Cash Flow $255.5M $286.3M
YoY Change 37.07% 15.44%

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us-gaap Profit Loss
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CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1831800000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
800000 USD
CY2014Q2 us-gaap Reimbursement Revenue
ReimbursementRevenue
0 USD
us-gaap Reimbursement Revenue
ReimbursementRevenue
0 USD
CY2015Q2 us-gaap Reimbursement Revenue
ReimbursementRevenue
50400000 USD
us-gaap Reimbursement Revenue
ReimbursementRevenue
71300000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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200000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2200000 USD
us-gaap Repayments Of Long Term Lines Of Credit
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0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
60000000 USD
us-gaap Repayments Of Other Long Term Debt
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0 USD
us-gaap Repayments Of Other Long Term Debt
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160000000 USD
us-gaap Repayments Of Senior Debt
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0 USD
us-gaap Repayments Of Senior Debt
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250000000 USD
us-gaap Restructuring Charges
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34200000 USD
CY2014Q4 us-gaap Restructuring Reserve
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22100000 USD
CY2015Q2 us-gaap Restructuring Reserve
RestructuringReserve
31900000 USD
us-gaap Restructuring Reserve Accrual Adjustment
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500000 USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
-600000 USD
CY2015Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
12200000 USD
CY2015Q2 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
19700000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3786100000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3955800000 USD
CY2014Q2 us-gaap Revenues
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1516400000 USD
us-gaap Revenues
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2947100000 USD
CY2015Q2 us-gaap Revenues
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2269100000 USD
us-gaap Revenues
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4062300000 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1516400000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
2947100000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
2218700000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
3991000000 USD
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
297900000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
582800000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
392400000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
832800000 USD
CY2015Q1 us-gaap Senior Long Term Notes
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2900000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
23600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
54000000 USD
us-gaap Stock Issued During Period Shares Acquisitions
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15300000 shares
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1500000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
6600000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
10400000 USD
us-gaap Stock Repurchased During Period Value
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164200000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
0 USD
CY2013Q3 us-gaap Stockholders Equity
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2656400000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
2491300000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
2820500000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
4769700000 USD
CY2014Q4 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
22500000 shares
CY2015Q2 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
22500000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
965500000 USD
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
975900000 USD
CY2014Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
0 USD
CY2015Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
163500000 USD
CY2015Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
87300000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
16700000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
28300000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
8200000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
9400000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
16700000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
28300000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86400000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
98100000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84900000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96300000 shares

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