2020 Q2 Form 10-Q Financial Statement

#000075000420000123 Filed on July 23, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $308.0M $845.0M $837.0M
YoY Change -63.55% 0.0% 3.08%
Cost Of Revenue $138.0M $321.0M $307.0M
YoY Change -57.01% 1.58% 3.37%
Gross Profit $170.0M $524.0M $530.0M
YoY Change -67.56% -0.95% 2.91%
Gross Profit Margin 55.19% 62.01% 63.32%
Selling, General & Admin $151.0M $174.0M $186.0M
YoY Change -13.22% 0.0% 8.14%
% of Gross Profit 88.82% 33.21% 35.09%
Research & Development $31.00M $46.00M $49.00M
YoY Change -32.61% -6.12% -9.26%
% of Gross Profit 18.24% 8.78% 9.25%
Depreciation & Amortization $140.0M $170.0M $165.0M
YoY Change -17.65% -1.73% -12.23%
% of Gross Profit 82.35% 32.44% 31.13%
Operating Expenses $182.0M $220.0M $235.0M
YoY Change -17.27% -1.35% 3.98%
Operating Profit -$56.00M $128.0M $123.0M
YoY Change -143.75% 29.29% 151.02%
Interest Expense -$132.0M -$140.0M -$148.0M
YoY Change -5.71% -1.06% 0.34%
% of Operating Profit -109.38% -120.33%
Other Income/Expense, Net -$1.000M $7.000M $0.00
YoY Change -114.29% 250.0% -100.0%
Pretax Income -$196.0M -$68.00M -$20.00M
YoY Change 188.24% 1033.33% -89.8%
Income Tax $2.000M $7.000M $4.000M
% Of Pretax Income
Net Earnings -$203.0M -$77.00M -$24.00M
YoY Change 163.64% 1183.33% -88.12%
Net Earnings / Revenue -65.91% -9.11% -2.87%
Basic Earnings Per Share -$2.15 -$0.83 -$0.26
Diluted Earnings Per Share -$2.15 -$0.83 -$0.26
COMMON SHARES
Basic Shares Outstanding 95.00M shares 93.00M shares 92.00M shares
Diluted Shares Outstanding 95.00M shares 93.00M shares 92.00M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $790.0M $369.0M $1.213B
YoY Change 114.09% 211.13% 1003.73%
Cash & Equivalents $790.0M $369.0M $1.213B
Short-Term Investments
Other Short-Term Assets $165.0M $128.0M $165.0M
YoY Change 28.91% -54.63% -41.86%
Inventory $233.0M $238.0M $229.0M
Prepaid Expenses
Receivables $612.0M $616.0M $621.0M
Other Receivables $0.00 $120.0M $104.0M
Total Short-Term Assets $1.932B $1.585B $2.446B
YoY Change 21.89% 20.22% 86.55%
LONG-TERM ASSETS
Property, Plant & Equipment $447.0M $532.0M $517.0M
YoY Change -15.98% 2.27% 2.32%
Goodwill $3.211B $3.279B $3.301B
YoY Change -2.07% -1.02% -2.12%
Intangibles $1.397B $1.660B $1.745B
YoY Change -15.84% -7.64% -8.3%
Long-Term Investments $258.0M $273.0M $296.0M
YoY Change -5.49% 30.5% 64.99%
Other Assets $214.0M $171.0M $92.00M
YoY Change 25.15% 126.19% 18.71%
Total Long-Term Assets $5.912B $6.347B $6.391B
YoY Change -6.85% 0.83% -0.54%
TOTAL ASSETS
Total Short-Term Assets $1.932B $1.585B $2.446B
Total Long-Term Assets $5.912B $6.347B $6.391B
Total Assets $7.844B $7.932B $8.837B
YoY Change -1.11% 4.19% 14.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $179.0M $201.0M $200.0M
YoY Change -10.95% 9.24% 7.53%
Accrued Expenses $522.0M $487.0M $540.0M
YoY Change 7.19% 7.08% 3.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $384.0M $45.00M $1.046B
YoY Change 753.33% -7.6% 1975.4%
Total Short-Term Liabilities $1.085B $733.0M $1.786B
YoY Change 48.02% 6.62% 136.15%
LONG-TERM LIABILITIES
Long-Term Debt $8.769B $8.802B $8.937B
YoY Change -0.37% -0.49% 1.63%
Other Long-Term Liabilities $298.0M $312.0M $330.0M
YoY Change -4.49% 47.8% 37.67%
Total Long-Term Liabilities $298.0M $312.0M $330.0M
YoY Change -4.49% 47.8% 37.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.085B $733.0M $1.786B
Total Long-Term Liabilities $298.0M $312.0M $330.0M
Total Liabilities $10.32B $10.05B $11.26B
YoY Change 2.72% 1.71% 13.36%
SHAREHOLDERS EQUITY
Retained Earnings -$2.925B -$2.848B
YoY Change 9.16% 6.52%
Common Stock $1.187B $848.0M
YoY Change 45.43% 6.09%
Preferred Stock
YoY Change
Treasury Stock (at cost) $175.0M $175.0M
YoY Change -0.11% -0.11%
Treasury Stock Shares 17.00M shares 17.00M shares 17.20M shares
Shareholders Equity -$2.479B -$2.118B -$2.423B
YoY Change
Total Liabilities & Shareholders Equity $7.844B $7.932B $8.837B
YoY Change -1.11% 4.19% 14.21%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$203.0M -$77.00M -$24.00M
YoY Change 163.64% 1183.33% -88.12%
Depreciation, Depletion And Amortization $140.0M $170.0M $165.0M
YoY Change -17.65% -1.73% -12.23%
Cash From Operating Activities $52.00M $95.00M $167.0M
YoY Change -45.26% -7.32% 456.67%
INVESTING ACTIVITIES
Capital Expenditures $39.00M $65.00M $67.00M
YoY Change -40.0% -42.22% -23.86%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$14.00M $14.00M $3.000M
YoY Change -200.0% -126.17%
Cash From Investing Activities -$53.00M -$51.00M -$64.00M
YoY Change 3.92% -69.28% -82.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $12.00M
YoY Change 500.0%
Cash From Financing Activities 461.0M -885.0M $942.0M
YoY Change -152.09% -1264.47% -372.25%
NET CHANGE
Cash From Operating Activities 52.00M 95.00M $167.0M
Cash From Investing Activities -53.00M -51.00M -$64.00M
Cash From Financing Activities 461.0M -885.0M $942.0M
Net Change In Cash 460.0M -841.0M $1.046B
YoY Change -154.7% -6828.0% -255.19%
FREE CASH FLOW
Cash From Operating Activities $52.00M $95.00M $167.0M
Capital Expenditures $39.00M $65.00M $67.00M
Free Cash Flow $13.00M $30.00M $100.0M
YoY Change -56.67% -400.0% -272.41%

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CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CapitalizedComputerSoftwareAmortization1
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CapitalizedComputerSoftwareAmortization1
60000000 USD
us-gaap Capitalized Computer Software Amortization1
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61000000 USD
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273000000 USD
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InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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CY2020Q2 us-gaap Derivative Cost Of Hedge
DerivativeCostOfHedge
5000000 USD
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DerivativeCostOfHedge
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us-gaap Derivative Cost Of Hedge
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10000000 USD
us-gaap Derivative Cost Of Hedge
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10000000 USD
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11000000 USD
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9000000 USD
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14000000 USD
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62000000 USD
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62000000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q1 us-gaap Redemption Premium
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11000000 USD
CY2019Q1 us-gaap Profit Loss
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CY2019Q1 us-gaap Stockholders Equity
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CY2019Q2 us-gaap Redemption Premium
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CY2019Q2 us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
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419000000 USD
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10000000 USD
CY2019Q2 us-gaap Profit Loss
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CY2019Q2 us-gaap Stockholders Equity
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CY2020Q2 us-gaap Allocated Share Based Compensation Expense
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CY2019Q2 us-gaap Allocated Share Based Compensation Expense
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10000000 USD
us-gaap Allocated Share Based Compensation Expense
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24000000 USD
us-gaap Allocated Share Based Compensation Expense
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Tax Adjustments Settlements And Unusual Provisions
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CY2020Q2 us-gaap Operating Lease Expense
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us-gaap Operating Lease Expense
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CY2019Q2 us-gaap Operating Lease Expense
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10000000 USD
us-gaap Operating Lease Expense
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19000000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
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CY2019Q4 us-gaap Operating Lease Right Of Use Asset
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105000000 USD
CY2020Q2 us-gaap Operating Lease Liability Current
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24000000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
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26000000 USD
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
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80000000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
88000000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
104000000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
114000000 USD
CY2020Q2 sgms Operating Lease Rightof Use Assetin Exchangefor Lease Obligations
OperatingLeaseRightofUseAssetinExchangeforLeaseObligations
15000000 USD
CY2019Q4 sgms Operating Lease Rightof Use Assetin Exchangefor Lease Obligations
OperatingLeaseRightofUseAssetinExchangeforLeaseObligations
17000000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.05
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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15000000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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27000000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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22000000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17000000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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14000000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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23000000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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14000000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
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104000000 USD
CY2020Q2 us-gaap Loss Contingency Accrual At Carrying Value
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3000000 USD
CY2020Q2 us-gaap Loss Contingency Estimate Of Possible Loss
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13000000 USD
CY2019Q2 us-gaap Inventory Write Down
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21000000 USD
us-gaap Inventory Write Down
InventoryWriteDown
30000000 USD
CY2019Q2 us-gaap Inventory Write Down
InventoryWriteDown
21000000 USD
us-gaap Inventory Write Down
InventoryWriteDown
30000000 USD
CY2020Q2 sgms Total Available Liquidity Excluding Sci Play
TotalAvailableLiquidityExcludingSciPlay
637000000 USD

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