2018 Q2 Form 10-Q Financial Statement

#000005947818000188 Filed on July 25, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $5.585B $5.092B
YoY Change 9.69% -5.79%
Cost Of Revenue $1.234B $1.140B
YoY Change 8.26% -22.18%
Gross Profit $4.351B $3.952B
YoY Change 10.1% 0.3%
Gross Profit Margin 77.9% 77.61%
Selling, General & Admin $1.486B $1.730B
YoY Change -14.15% 6.64%
% of Gross Profit 34.15% 43.79%
Research & Development $1.271B $1.272B
YoY Change -0.09% -4.78%
% of Gross Profit 29.21% 32.19%
Depreciation & Amortization $425.2M $395.6M
YoY Change 7.48% 5.86%
% of Gross Profit 9.77% 10.01%
Operating Expenses $2.757B $2.764B
YoY Change -0.26% -6.58%
Operating Profit $1.594B $1.188B
YoY Change 34.22% 21.03%
Interest Expense $63.30M $53.60M
YoY Change 18.1% 24.07%
% of Operating Profit 3.97% 4.51%
Other Income/Expense, Net $46.60M $60.40M
YoY Change -22.85% 184.91%
Pretax Income $41.70M $1.261B
YoY Change -96.69% 33.46%
Income Tax $273.3M $244.3M
% Of Pretax Income 655.4% 19.38%
Net Earnings -$259.9M $1.008B
YoY Change -125.78% 34.81%
Net Earnings / Revenue -4.65% 19.8%
Basic Earnings Per Share -$0.25 $0.96
Diluted Earnings Per Share -$0.25 $0.95
COMMON SHARES
Basic Shares Outstanding 1.030B shares 1.055B shares
Diluted Shares Outstanding 1.030B shares 1.057B shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.910B $5.434B
YoY Change 27.16% 38.09%
Cash & Equivalents $6.817B $3.070B
Short-Term Investments $92.00M $2.364B
Other Short-Term Assets $1.689B $1.010B
YoY Change 67.23% 27.85%
Inventory $4.156B $4.346B
Prepaid Expenses $1.689B $1.010B
Receivables $4.823B $4.350B
Other Receivables $756.1M $606.2M
Total Short-Term Assets $18.33B $15.75B
YoY Change 16.42% 21.34%
LONG-TERM ASSETS
Property, Plant & Equipment $8.771B $8.583B
YoY Change 2.19% 6.41%
Goodwill $4.333B $4.291B
YoY Change 0.99% 6.56%
Intangibles $3.772B $4.543B
YoY Change -16.96% -5.49%
Long-Term Investments $2.060B $5.723B
YoY Change -64.0% 28.64%
Other Assets $1.777B $2.061B
YoY Change -13.78% -4.16%
Total Long-Term Assets $15.26B $16.62B
YoY Change -8.19% 7.68%
TOTAL ASSETS
Total Short-Term Assets $18.33B $15.75B
Total Long-Term Assets $15.26B $16.62B
Total Assets $42.36B $40.95B
YoY Change 3.45% 12.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.317B $1.257B
YoY Change 4.75% 4.09%
Accrued Expenses $711.0M $668.0M
YoY Change 6.44% 7.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.049B $2.444B
YoY Change 24.75% 278.33%
Total Short-Term Liabilities $13.06B $11.29B
YoY Change 15.59% 34.44%
LONG-TERM LIABILITIES
Long-Term Debt $9.171B $9.868B
YoY Change -7.07% 13.61%
Other Long-Term Liabilities $1.586B $2.444B
YoY Change -35.12% 28.14%
Total Long-Term Liabilities $17.68B $15.48B
YoY Change 14.22% 15.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.06B $11.29B
Total Long-Term Liabilities $17.68B $15.48B
Total Liabilities $30.74B $26.78B
YoY Change 14.79% 22.72%
SHAREHOLDERS EQUITY
Retained Earnings $14.25B $15.59B
YoY Change -8.61% -1.48%
Common Stock $6.499B $6.375B
YoY Change 1.95% 1.54%
Preferred Stock
YoY Change
Treasury Stock (at cost) $69.40M $75.80M
YoY Change -8.44% -5.84%
Treasury Stock Shares
Shareholders Equity $11.56B $14.10B
YoY Change
Total Liabilities & Shareholders Equity $42.36B $40.95B
YoY Change 3.45% 12.26%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$259.9M $1.008B
YoY Change -125.78% 34.81%
Depreciation, Depletion And Amortization $425.2M $395.6M
YoY Change 7.48% 5.86%
Cash From Operating Activities $1.518B $1.651B
YoY Change -8.09% 27.6%
INVESTING ACTIVITIES
Capital Expenditures -$1.858B -$221.6M
YoY Change 738.54% -9.7%
Acquisitions
YoY Change
Other Investing Activities $4.992B -$2.027B
YoY Change -346.22% 161.42%
Cash From Investing Activities $3.133B -$2.249B
YoY Change -239.33% 120.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -831.4M 1.060B
YoY Change -178.44% 54.23%
NET CHANGE
Cash From Operating Activities 1.518B 1.651B
Cash From Investing Activities 3.133B -2.249B
Cash From Financing Activities -831.4M 1.060B
Net Change In Cash 3.820B 462.1M
YoY Change 726.55% -51.88%
FREE CASH FLOW
Cash From Operating Activities $1.518B $1.651B
Capital Expenditures -$1.858B -$221.6M
Free Cash Flow $3.376B $1.873B
YoY Change 80.26% 21.65%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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499100000 USD
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OtherComprehensiveIncomeLossTax
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us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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CY2018Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
91500000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
56300000 USD
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OtherLiabilitiesCurrent
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CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
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CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
12800000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
41900000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5200000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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137900000 USD
us-gaap Other Operating Activities Cash Flow Statement
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183100000 USD
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CY2018Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
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us-gaap Payments For Proceeds From Other Investing Activities
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116900000 USD
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45300000 USD
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us-gaap Payments For Repurchase Of Common Stock
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199900000 USD
us-gaap Payments For Repurchase Of Common Stock
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2050700000 USD
us-gaap Payments Of Dividends
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1096100000 USD
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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882100000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
us-gaap Payments To Acquire Longterm Investments
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2358800000 USD
us-gaap Payments To Acquire Longterm Investments
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676500000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
1883500000 USD
us-gaap Payments To Acquire Short Term Investments
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112200000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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3420500000 USD
us-gaap Pension Contributions
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25000000 USD
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1447500000 USD
CY2018Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1688600000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2232000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-247000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-230400000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
125700000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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CY2017Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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959000000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
2051500000 USD
us-gaap Proceeds From Sale Of Longterm Investments
ProceedsFromSaleOfLongtermInvestments
1107600000 USD
us-gaap Proceeds From Sale Of Longterm Investments
ProceedsFromSaleOfLongtermInvestments
3395100000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
1677600000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
2496700000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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PropertyPlantAndEquipmentNet
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CY2017Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Repayments Of Long Term Debt
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630500000 USD
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1001500000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1272100000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2530400000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1333100000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2510000000 USD
CY2017Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
50000000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
263900000 USD
CY2018Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
74400000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
152700000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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13894100000 USD
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RetainedEarningsAccumulatedDeficit
14247300000 USD
CY2017Q2 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
11052600000 USD
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Revenues
6355200000 USD
us-gaap Revenues
Revenues
12055200000 USD
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1730400000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3298100000 USD
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SellingGeneralAndAdministrativeExpense
1653700000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3153700000 USD
CY2017Q2 us-gaap Severance Costs1
SeveranceCosts1
-1000000 USD
us-gaap Severance Costs1
SeveranceCosts1
167600000 USD
CY2018Q2 us-gaap Severance Costs1
SeveranceCosts1
-27300000 USD
us-gaap Severance Costs1
SeveranceCosts1
-19900000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
139200000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
138200000 USD
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
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ShortTermInvestments
92200000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
11555200000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
532900000 USD
CY2018Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
464900000 USD
CY2017Q4 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized
723200000 USD
CY2018Q2 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
TransferOfFinancialAssetsAccountedForAsSalesAmountDerecognized
673900000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
75800000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
69400000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1057100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1057500000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1030200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1041600000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1055000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1055600000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1030200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1039600000 shares

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