2016 Q4 Form 10-K Financial Statement

#000092014817000018 Filed on February 27, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 2015 Q4
Revenue $2.387B $9.553B $2.245B
YoY Change 6.35% 10.06% 48.4%
Cost Of Revenue $1.878B $6.699B $1.560B
YoY Change 20.39% 15.96% 61.45%
Gross Profit $788.0M $2.854B $740.7M
YoY Change 6.39% -1.7% 35.54%
Gross Profit Margin 33.01% 29.88% 33.0%
Selling, General & Admin $121.3M $1.346B $406.2M
YoY Change -70.14% -17.36% 28.63%
% of Gross Profit 15.39% 47.14% 54.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $130.3M $499.2M $113.3M
YoY Change 15.0% 9.04% 78.43%
% of Gross Profit 16.54% 17.49% 15.3%
Operating Expenses $170.1M $1.346B $450.1M
YoY Change -62.21% -17.36% 35.9%
Operating Profit $617.9M $1.271B $290.6M
YoY Change 112.63% 27.47% 34.97%
Interest Expense -$50.70M $219.1M -$53.90M
YoY Change -5.94% -20.3% 92.5%
% of Operating Profit -8.21% 17.24% -18.55%
Other Income/Expense, Net $13.80M -$197.0M -$3.400M
YoY Change -505.88% -27.25% -2.86%
Pretax Income $244.7M $884.5M $179.2M
YoY Change 36.55% 49.03% -1.21%
Income Tax $80.40M $360.7M $69.00M
% Of Pretax Income 32.86% 40.78% 38.5%
Net Earnings $184.4M $711.8M $110.0M
YoY Change 67.64% 62.66% -8.03%
Net Earnings / Revenue 7.72% 7.45% 4.9%
Basic Earnings Per Share $1.79 $6.94 $1.09
Diluted Earnings Per Share $1.75 $6.82 $1.07
COMMON SHARES
Basic Shares Outstanding 103.0M shares 102.5M shares 101.2M shares
Diluted Shares Outstanding 104.3M shares

Balance Sheet

Concept 2016 Q4 2016 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $434.0M $434.0M $716.0M
YoY Change -39.39% -39.39% 23.45%
Cash & Equivalents $433.6M $434.0M $716.4M
Short-Term Investments
Other Short-Term Assets $321.0M $321.0M $339.0M
YoY Change -5.31% -5.31% 114.56%
Inventory $205.2M $205.0M $191.0M
Prepaid Expenses $321.2M $339.3M
Receivables $1.329B $1.519B $1.218B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.479B $2.479B $2.621B
YoY Change -5.44% -5.42% 54.85%
LONG-TERM ASSETS
Property, Plant & Equipment $1.719B $1.719B $1.747B
YoY Change -1.65% -1.6% 122.17%
Goodwill $6.424B $6.424B
YoY Change 0.0% 3.58%
Intangibles $3.401B $3.324B
YoY Change 2.32% 125.2%
Long-Term Investments $58.00M $58.00M $58.00M
YoY Change 0.0% 0.0% -37.63%
Other Assets $165.1M $167.0M $150.0M
YoY Change 10.07% 9.87% -3.1%
Total Long-Term Assets $11.77B $11.77B $11.48B
YoY Change 2.48% 2.47% 104.73%
TOTAL ASSETS
Total Short-Term Assets $2.479B $2.479B $2.621B
Total Long-Term Assets $11.77B $11.77B $11.48B
Total Assets $14.25B $14.25B $14.10B
YoY Change 1.01% 1.01% 93.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $508.4M $508.0M $497.4M
YoY Change 2.21% 2.21% 76.2%
Accrued Expenses $593.7M $484.0M $633.1M
YoY Change -6.22% 3.2% 85.44%
Deferred Revenue
YoY Change
Short-Term Debt $42.00M $42.00M $95.00M
YoY Change -55.79% -55.79%
Long-Term Debt Due $541.1M $507.0M $419.5M
YoY Change 28.99% 54.1% 21.98%
Total Short-Term Liabilities $1.828B $1.828B $1.701B
YoY Change 7.47% 7.47% 74.18%
LONG-TERM LIABILITIES
Long-Term Debt $5.300B $5.300B $5.940B
YoY Change -10.78% -10.77% 121.43%
Other Long-Term Liabilities $392.0M $392.0M $323.1M
YoY Change 21.32% 21.36% 17.83%
Total Long-Term Liabilities $5.692B $5.692B $6.263B
YoY Change -9.12% -9.12% 111.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.828B $1.828B $1.701B
Total Long-Term Liabilities $5.692B $5.692B $6.263B
Total Liabilities $8.726B $8.741B $9.145B
YoY Change -4.58% -4.57% 104.87%
SHAREHOLDERS EQUITY
Retained Earnings $4.969B $4.224B
YoY Change 17.65% 11.56%
Common Stock $2.144B $1.987B
YoY Change 7.92% 19000.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.013B $978.1M
YoY Change 3.54% 1.31%
Treasury Stock Shares 22.90M shares 22.60M shares
Shareholders Equity $5.518B $5.506B $4.945B
YoY Change
Total Liabilities & Shareholders Equity $14.25B $14.25B $14.10B
YoY Change 1.01% 1.01% 93.17%

Cashflow Statement

Concept 2016 Q4 2016 2015 Q4
OPERATING ACTIVITIES
Net Income $184.4M $711.8M $110.0M
YoY Change 67.64% 62.66% -8.03%
Depreciation, Depletion And Amortization $130.3M $499.2M $113.3M
YoY Change 15.0% 9.04% 78.43%
Cash From Operating Activities $470.1M $1.197B $384.6M
YoY Change 22.23% 21.85% 79.97%
INVESTING ACTIVITIES
Capital Expenditures -$74.30M $278.9M -$85.10M
YoY Change -12.69% 9.03% 83.8%
Acquisitions $548.6M
YoY Change -85.32%
Other Investing Activities -$145.3M -$516.8M -$43.50M
YoY Change 234.02% -86.18% -56.93%
Cash From Investing Activities -$219.6M -$795.7M -$128.6M
YoY Change 70.76% -80.08% -12.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $43.90M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -369.3M -$671.0M -239.6M
YoY Change 54.13% -121.07% 307.48%
NET CHANGE
Cash From Operating Activities 470.1M $1.197B 384.6M
Cash From Investing Activities -219.6M -$795.7M -128.6M
Cash From Financing Activities -369.3M -$671.0M -239.6M
Net Change In Cash -118.8M -$269.6M 16.40M
YoY Change -824.39% -256.65% 115.79%
FREE CASH FLOW
Cash From Operating Activities $470.1M $1.197B $384.6M
Capital Expenditures -$74.30M $278.9M -$85.10M
Free Cash Flow $544.4M $918.2M $469.7M
YoY Change 15.9% 26.37% 80.65%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:9px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:9px;padding-top:4px;text-align:justify;text-indent:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with generally accepted accounting principles requires the Company 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 revenues and expenses during the reported periods. Significant estimates include the allowances for doubtful accounts, deferred tax assets, fair values and amortization lives for intangible assets, and accruals for self-insurance reserves and pensions. The allowance for doubtful accounts is determined based on historical collections trends, the aging of accounts, current economic conditions and regulatory changes. Actual results could differ from those estimates.</font></div></div>

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