2016 Form 10-K Financial Statement

#000075000417000018 Filed on March 03, 2017

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q3
Revenue $2.883B $737.0M $671.6M
YoY Change 4.52% 30.26% 61.6%
Cost Of Revenue $1.106B $323.4M $250.0M
YoY Change 0.2% 17.6% 25.5%
Gross Profit $1.777B $413.6M $421.6M
YoY Change 7.4% 42.23% 94.82%
Gross Profit Margin 61.63% 56.12% 62.78%
Selling, General & Admin $577.0M $144.1M $136.8M
YoY Change 1.64% -35.98% 43.1%
% of Gross Profit 32.47% 34.84% 32.45%
Research & Development $204.8M $43.10M $45.90M
YoY Change 11.36% 7.75% 74.52%
% of Gross Profit 11.52% 10.42% 10.89%
Depreciation & Amortization $738.7M $210.3M $286.5M
YoY Change -18.21% 28.39% 185.36%
% of Gross Profit 41.57% 50.85% 67.96%
Operating Expenses $781.8M $187.2M $182.7M
YoY Change 4.02% -29.39% 49.88%
Operating Profit $130.6M -$54.40M -$988.2M
YoY Change -112.75% -65.22% 12569.23%
Interest Expense $661.4M -$159.9M $166.8M
YoY Change -0.53% -2.56% 264.99%
% of Operating Profit 506.43%
Other Income/Expense, Net $13.90M -$4.200M -$7.500M
YoY Change -164.35% -19.23% -341.94%
Pretax Income -$478.7M -$218.5M -$1.160B
YoY Change -71.74% -32.91% 1700.47%
Income Tax -$125.0M -$91.00M -$81.30M
% Of Pretax Income
Net Earnings -$353.7M -$127.5M -$1.078B
YoY Change -74.63% 170.7% 1444.7%
Net Earnings / Revenue -12.27% -17.3% -160.54%
Basic Earnings Per Share -$4.05 -$1.48 -$12.52
Diluted Earnings Per Share -$4.05 -$1.48 -$12.52
COMMON SHARES
Basic Shares Outstanding 87.30M shares 86.30M shares 86.10M shares
Diluted Shares Outstanding 87.30M shares 86.30M shares 86.10M shares

Balance Sheet

Concept 2016 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.1M $128.7M $102.1M
YoY Change -10.57% -25.09% -22.94%
Cash & Equivalents $115.1M $128.7M $102.1M
Short-Term Investments
Other Short-Term Assets $138.8M $123.3M $272.7M
YoY Change -3.28% -32.81% 149.95%
Inventory $242.3M $248.5M $243.8M
Prepaid Expenses
Receivables $495.0M $487.1M $470.6M
Other Receivables $125.4M $167.7M $163.1M
Total Short-Term Assets $1.117B $1.176B $1.270B
YoY Change -5.01% -9.94% 49.35%
LONG-TERM ASSETS
Property, Plant & Equipment $612.2M $794.0M $868.4M
YoY Change -22.9% -21.6% 17.41%
Goodwill $3.014B $3.085B
YoY Change -26.64% 163.99%
Intangibles $1.920B $1.941B
YoY Change -14.73% 287.93%
Long-Term Investments $179.9M $228.5M $227.0M
YoY Change -21.27% -20.71% -24.0%
Other Assets $64.80M $45.40M $222.1M
YoY Change 2.37% -21.72% 86.17%
Total Long-Term Assets $5.971B $6.557B $6.946B
YoY Change -8.94% -22.09% 117.81%
TOTAL ASSETS
Total Short-Term Assets $1.117B $1.176B $1.270B
Total Long-Term Assets $5.971B $6.557B $6.946B
Total Assets $7.087B $7.732B $8.215B
YoY Change -8.34% -20.46% 103.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $188.9M $159.8M $120.4M
YoY Change 18.21% 2.57% 27.68%
Accrued Expenses $395.4M $443.8M $443.6M
YoY Change 7.5% -1.25% 66.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $49.30M $50.30M $50.40M
YoY Change -1.99% -0.59% 63.11%
Total Short-Term Liabilities $692.4M $653.9M $614.4M
YoY Change 5.89% -0.29% 56.69%
LONG-TERM LIABILITIES
Long-Term Debt $8.025B $8.157B $8.360B
YoY Change -1.62% -1.28% 163.02%
Other Long-Term Liabilities $235.6M $188.9M $221.2M
YoY Change 24.72% -20.23% 2.36%
Total Long-Term Liabilities $8.261B $188.9M $221.2M
YoY Change -1.02% -20.23% 2.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $692.4M $653.9M $614.4M
Total Long-Term Liabilities $8.261B $188.9M $221.2M
Total Liabilities $9.023B $9.228B $9.596B
YoY Change -2.22% -5.04% 143.97%
SHAREHOLDERS EQUITY
Retained Earnings -$1.865B -$1.338B
YoY Change 296.22% 215.75%
Common Stock $765.9M $761.4M
YoY Change 3.05% 3.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $175.2M $175.2M
YoY Change 0.0% 0.0%
Treasury Stock Shares 17.20M shares 17.20M shares
Shareholders Equity -$1.936B -$1.496B -$1.381B
YoY Change
Total Liabilities & Shareholders Equity $7.087B $7.732B $8.215B
YoY Change -8.34% -20.46% 103.4%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income -$353.7M -$127.5M -$1.078B
YoY Change -74.63% 170.7% 1444.7%
Depreciation, Depletion And Amortization $738.7M $210.3M $286.5M
YoY Change -18.21% 28.39% 185.36%
Cash From Operating Activities $419.0M $158.7M $141.1M
YoY Change 1.16% -630.77% 11.72%
INVESTING ACTIVITIES
Capital Expenditures -$272.9M $90.00M $90.80M
YoY Change -236.18% 45.16% 47.4%
Acquisitions $0.00
YoY Change
Other Investing Activities $0.00 $3.400M $11.70M
YoY Change -100.11% 13.59%
Cash From Investing Activities -$228.0M -$86.60M -$79.10M
YoY Change -15.46% -97.3% 54.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $49.80M
YoY Change -2.92%
Cash From Financing Activities -$196.0M -42.30M -86.40M
YoY Change 6.99% -101.29% 226.04%
NET CHANGE
Cash From Operating Activities $419.0M 158.7M 141.1M
Cash From Investing Activities -$228.0M -86.60M -79.10M
Cash From Financing Activities -$196.0M -42.30M -86.40M
Net Change In Cash -$9.900M 29.80M -24.40M
YoY Change -79.8% -29.88% -150.31%
FREE CASH FLOW
Cash From Operating Activities $419.0M $158.7M $141.1M
Capital Expenditures -$272.9M $90.00M $90.80M
Free Cash Flow $691.9M $68.70M $50.30M
YoY Change 223.62% -174.76% -22.26%

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CY2016 us-gaap Cost Of Goods And Services Sold
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CY2016 us-gaap Cost Of Goods Sold
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CY2016 us-gaap Cost Of Services
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CY2016 us-gaap Current Federal Tax Expense Benefit
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CY2016 us-gaap Current Foreign Tax Expense Benefit
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CY2015 us-gaap Current Income Tax Expense Benefit
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CY2016 us-gaap Current Income Tax Expense Benefit
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161100000 USD
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CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
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597100000 USD
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100200000 USD
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400000 USD
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8100000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
13900000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10800000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
27400000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3500000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
300000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
4400000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
800000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
800000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
9800000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
500000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8400000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2400000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
9700000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
100000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
400000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
27400000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84600000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85300000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85900000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86100000 shares
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86300000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85900000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86600000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87300000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87500000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87700000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87300000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84600000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85300000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85900000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86100000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86300000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85900000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86600000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87300000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87500000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87700000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87300000 shares
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of estimates</font></div><div style="line-height:120%;padding-bottom:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management 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 reporting period. Actual results could differ from those estimates.</font></div></div>

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