2017 Q2 Form 10-Q Financial Statement

#000106569617000039 Filed on July 31, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $2.458B $2.305B
YoY Change 6.66% 25.39%
Cost Of Revenue $1.493B $1.399B
YoY Change 6.75% 25.57%
Gross Profit $965.0M $905.8M
YoY Change 6.53% 25.12%
Gross Profit Margin 39.25% 39.3%
Selling, General & Admin $664.3M $250.1M
YoY Change 165.62% 21.52%
% of Gross Profit 68.84% 27.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $56.00M $53.97M
YoY Change 3.77% 73.84%
% of Gross Profit 5.8% 5.96%
Operating Expenses $664.3M $250.1M
YoY Change 165.62% 21.52%
Operating Profit $244.6M $232.4M
YoY Change 5.22% 16.06%
Interest Expense -$24.60M -$26.38M
YoY Change -6.77% 80.42%
% of Operating Profit -10.06% -11.35%
Other Income/Expense, Net $18.79M -$24.19M
YoY Change -177.68% 64.33%
Pretax Income $225.8M $208.3M
YoY Change 8.42% 12.23%
Income Tax $75.86M $70.26M
% Of Pretax Income 33.6% 33.74%
Net Earnings $150.9M $142.8M
YoY Change 5.69% 19.26%
Net Earnings / Revenue 6.14% 6.2%
Basic Earnings Per Share $0.49 $0.47
Diluted Earnings Per Share $0.49 $0.46
COMMON SHARES
Basic Shares Outstanding 308.4M shares 306.7M shares
Diluted Shares Outstanding 310.4M shares 309.8M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $304.0M $273.0M
YoY Change 11.36% 90.91%
Cash & Equivalents $303.5M $251.9M
Short-Term Investments
Other Short-Term Assets $132.0M $140.0M
YoY Change -5.71% -20.45%
Inventory $2.063B $1.891B
Prepaid Expenses
Receivables $1.001B $995.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.501B $3.298B
YoY Change 6.13% 39.02%
LONG-TERM ASSETS
Property, Plant & Equipment $841.6M $1.055B
YoY Change -20.23% 62.3%
Goodwill $3.192B $3.059B
YoY Change 4.32% 33.81%
Intangibles
YoY Change
Long-Term Investments $182.0M
YoY Change
Other Assets $119.7M $142.6M
YoY Change -16.1% 47.38%
Total Long-Term Assets $4.930B $4.888B
YoY Change 0.87% 49.84%
TOTAL ASSETS
Total Short-Term Assets $3.501B $3.298B
Total Long-Term Assets $4.930B $4.888B
Total Assets $8.431B $8.186B
YoY Change 2.99% 45.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $724.2M $735.1M
YoY Change -1.49% 87.08%
Accrued Expenses $246.7M $228.7M
YoY Change 7.91% 24.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $97.00M $61.00M
YoY Change 59.02% 56.41%
Total Short-Term Liabilities $1.222B $1.168B
YoY Change 4.56% 60.85%
LONG-TERM LIABILITIES
Long-Term Debt $2.891B $3.275B
YoY Change -11.73% 98.24%
Other Long-Term Liabilities $236.6M $210.0M
YoY Change 12.7% 70.01%
Total Long-Term Liabilities $236.6M $210.0M
YoY Change 12.7% 70.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.222B $1.168B
Total Long-Term Liabilities $236.6M $210.0M
Total Liabilities $1.458B $1.378B
YoY Change 5.8% 62.18%
SHAREHOLDERS EQUITY
Retained Earnings $2.878B $2.375B
YoY Change 21.17% 23.05%
Common Stock $1.133B $1.114B
YoY Change 1.72% 3.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.857B $3.308B
YoY Change
Total Liabilities & Shareholders Equity $8.431B $8.186B
YoY Change 2.99% 45.28%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $150.9M $142.8M
YoY Change 5.69% 19.26%
Depreciation, Depletion And Amortization $56.00M $53.97M
YoY Change 3.77% 73.84%
Cash From Operating Activities $189.8M $220.4M
YoY Change -13.88% 114.81%
INVESTING ACTIVITIES
Capital Expenditures -$47.10M -$51.90M
YoY Change -9.25% 27.52%
Acquisitions
YoY Change
Other Investing Activities -$20.30M -$664.6M
YoY Change -96.95% 1843.27%
Cash From Investing Activities -$67.50M -$716.5M
YoY Change -90.58% 856.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -96.70M 544.8M
YoY Change -117.75% -944.65%
NET CHANGE
Cash From Operating Activities 189.8M 220.4M
Cash From Investing Activities -67.50M -716.5M
Cash From Financing Activities -96.70M 544.8M
Net Change In Cash 25.60M 48.70M
YoY Change -47.43% -232.34%
FREE CASH FLOW
Cash From Operating Activities $189.8M $220.4M
Capital Expenditures -$47.10M -$51.90M
Free Cash Flow $236.9M $272.3M
YoY Change -13.0% 90.02%

Facts In Submission

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CY2017Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-930000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
2233000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-76751000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-76032000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
91366000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
112905000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-120000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-267000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
862000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
3903000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
724000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-112000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
275000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-43000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-2250000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-2278000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-11411000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-10737000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
37943000 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
47041000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
174146000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
236627000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
462000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3351000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2731000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3777000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1009000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-4712000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
16171000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2281000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1268841000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
100728000 USD
CY2016Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
51926000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
102319000 USD
CY2017Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
47147000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
91545000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
87768000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
132483000 USD
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
97000000 USD
us-gaap Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
150000 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
18342000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
316100000 USD
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
10304000 USD
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
301297000 USD
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
301300000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
338478000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1822020000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
162794000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
65000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
4316000 USD
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
19591000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4889000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5151000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
811576000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
841608000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
860549000 USD
CY2017Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
1001246000 USD
us-gaap Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
66480000 USD
us-gaap Repayments Of Accounts Receivable Securitization
RepaymentsOfAccountsReceivableSecuritization
5000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1012362000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
585454000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4721000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
18590000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
1436000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
2079000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
7824000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2590359000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2877551000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
2304806000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
4226282000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
2458411000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
4801254000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
250086000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
468404000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
278942000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
546169000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
19634000 USD
CY2017Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
21241000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
16762000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5151000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
3442949000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
3856685000 USD
CY2016Q2 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTaxPeriodIncreaseDecrease
-73257000 USD
us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTaxPeriodIncreaseDecrease
-73117000 USD
CY2017Q2 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTaxPeriodIncreaseDecrease
93597000 USD
us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTaxPeriodIncreaseDecrease
115176000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
309778000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
309486000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
310396000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
310349000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
306718000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
306437000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
308407000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
308218000 shares

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