2018 Q3 Form 10-K Financial Statement

#000093646819000009 Filed on February 08, 2019

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q4 2017 Q3
Revenue $14.32B $13.84B $12.34B
YoY Change 16.02% 0.67% 6.84%
Cost Of Revenue $12.40B $12.14B $10.74B
YoY Change 15.42% -2.13% 5.65%
Gross Profit $1.921B $1.709B $1.600B
YoY Change 20.06% 26.31% 15.61%
Gross Profit Margin 13.42% 12.34% 12.96%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $291.0M $315.0M $299.0M
YoY Change -2.68% -3.67% 1.36%
% of Gross Profit 15.15% 18.43% 18.69%
Operating Expenses -$42.00M -$240.0M -$77.00M
YoY Change -45.45% 220.0% -62.25%
Operating Profit $1.963B $1.949B $1.677B
YoY Change 17.05% 36.48% 5.6%
Interest Expense -$177.0M -$174.0M $162.0M
YoY Change -209.26% 1.75% 0.0%
% of Operating Profit -9.02% -8.93% 9.66%
Other Income/Expense, Net -$211.0M -$203.0M -$218.0M
YoY Change -3.21% 10050.0% -21900.0%
Pretax Income $1.575B $1.572B $1.297B
YoY Change 21.43% 25.26% -9.11%
Income Tax $102.0M $503.0M $334.0M
% Of Pretax Income 6.48% 32.0% 25.75%
Net Earnings $1.473B -$744.0M $963.0M
YoY Change 52.96% -175.3% -59.79%
Net Earnings / Revenue 10.29% -5.37% 7.8%
Basic Earnings Per Share $3.35
Diluted Earnings Per Share $5.132M -$2.601M $3.32
COMMON SHARES
Basic Shares Outstanding 284.4M shares 287.1M shares
Diluted Shares Outstanding 290.0M shares

Balance Sheet

Concept 2018 Q3 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $897.0M $2.861B $2.941B
YoY Change -69.5% 55.74% 1.59%
Cash & Equivalents $897.0M $2.861B $2.941B
Short-Term Investments
Other Short-Term Assets $727.0M $1.509B $443.0M
YoY Change 64.11% 278.2% 8.58%
Inventory $3.050B $2.878B $4.803B
Prepaid Expenses
Receivables $12.19B $10.26B $9.021B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $16.86B $17.51B $17.21B
YoY Change -2.03% 15.87% 0.57%
LONG-TERM ASSETS
Property, Plant & Equipment $5.902B $5.775B $5.511B
YoY Change 7.09% 4.07% 2.64%
Goodwill $10.79B $10.81B $10.81B
YoY Change -0.22% 0.4% 0.19%
Intangibles $3.570B $3.797B $3.877B
YoY Change -7.92% -7.23% -7.8%
Long-Term Investments $1.400B
YoY Change 0.0%
Other Assets $5.340B $5.580B $5.568B
YoY Change -4.09% -1.54% 2.84%
Total Long-Term Assets $28.64B $29.12B $31.74B
YoY Change -9.77% -10.96% 0.34%
TOTAL ASSETS
Total Short-Term Assets $16.86B $17.51B $17.21B
Total Long-Term Assets $28.64B $29.12B $31.74B
Total Assets $45.50B $46.62B $48.95B
YoY Change -7.05% -2.48% 0.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.691B $1.467B $2.848B
YoY Change -5.51% -11.25% 0.28%
Accrued Expenses $2.165B $1.785B $1.895B
YoY Change 14.25% 1.19% 2.1%
Deferred Revenue $6.489B $7.028B
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $750.0M $750.0M
YoY Change
Total Short-Term Liabilities $15.20B $12.91B $13.08B
YoY Change 16.2% 2.96% -9.3%
LONG-TERM LIABILITIES
Long-Term Debt $13.49B $13.51B $14.27B
YoY Change -5.48% -5.38% -0.25%
Other Long-Term Liabilities $4.411B $4.548B $4.563B
YoY Change -3.33% -2.38% -1.62%
Total Long-Term Liabilities $17.90B $18.06B $18.83B
YoY Change -4.96% -4.65% -0.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.20B $12.91B $13.08B
Total Long-Term Liabilities $17.90B $18.06B $18.83B
Total Liabilities $44.49B $47.40B $46.77B
YoY Change -4.87% 2.59% 1.0%
SHAREHOLDERS EQUITY
Retained Earnings $14.74B $11.41B $13.17B
YoY Change 11.87% -14.4% 1.15%
Common Stock $283.0M $284.0M $285.0M
YoY Change -0.7% -1.73% -2.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $943.0M -$850.0M $2.098B
YoY Change
Total Liabilities & Shareholders Equity $45.50B $46.62B $48.95B
YoY Change -7.05% -2.48% 0.42%

Cashflow Statement

Concept 2018 Q3 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $1.473B -$744.0M $963.0M
YoY Change 52.96% -175.3% -59.79%
Depreciation, Depletion And Amortization $291.0M $315.0M $299.0M
YoY Change -2.68% -3.67% 1.36%
Cash From Operating Activities $361.0M $1.512B $1.754B
YoY Change -79.42% 107.41% 32.88%
INVESTING ACTIVITIES
Capital Expenditures -$339.0M -$507.0M -$222.0M
YoY Change 52.7% 16.28% -7.88%
Acquisitions
YoY Change
Other Investing Activities -$5.000M $15.00M $6.000M
YoY Change -183.33% 650.0% -64.71%
Cash From Investing Activities -$344.0M -$492.0M -$216.0M
YoY Change 59.26% 13.36% -3.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -301.0M -1.100B -1.049B
YoY Change -71.31% -18.7% -297.92%
NET CHANGE
Cash From Operating Activities 361.0M 1.512B 1.754B
Cash From Investing Activities -344.0M -492.0M -216.0M
Cash From Financing Activities -301.0M -1.100B -1.049B
Net Change In Cash -284.0M -80.00M 489.0M
YoY Change -158.08% -92.44% -69.93%
FREE CASH FLOW
Cash From Operating Activities $361.0M $1.512B $1.754B
Capital Expenditures -$339.0M -$507.0M -$222.0M
Free Cash Flow $700.0M $2.019B $1.976B
YoY Change -64.57% 73.3% 26.59%

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3300000000 USD
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
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3900000000 USD
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P3Y
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203000000 USD
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256000000 USD
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1201000000 USD
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73000000 USD
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CY2017 us-gaap Gain Loss On Sale Of Properties
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198000000 USD
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10800000000 USD
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30200000000 USD
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750000000 USD
CY2018Q4 us-gaap Guarantee Obligations Maximum Exposure
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us-gaap Income Loss From Continuing Operations
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1890000000 USD
CY2018 us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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1380000000 USD
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CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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699000000 USD
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2800000 shares
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of estimates</font><font style="font-family:inherit;font-size:10pt;">&#160;&#8211;&#160;We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). In doing so, we are required to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base these estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Our actual results may differ materially from these estimates. Significant estimates inherent in the preparation of our consolidated financial statements include, but are not limited to, accounting for sales and cost recognition, postretirement benefit plans, environmental receivables and liabilities, evaluation of goodwill and other assets for impairment, income taxes including deferred income taxes, fair value measurements and contingencies.</font></div></div>

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