2019 Q1 Form 10-K Financial Statement

#000006066719000042 Filed on April 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2017 Q1
Revenue $15.65B $15.49B $15.78B
YoY Change 0.99% -1.84% 19.25%
Cost Of Revenue $11.61B $11.24B $11.14B
YoY Change 3.26% 0.91% 28.84%
Gross Profit $4.037B $4.251B $4.642B
YoY Change -5.03% -8.42% 1.18%
Gross Profit Margin 25.8% 27.44% 29.41%
Selling, General & Admin $3.643B $2.829B $3.021B
YoY Change 28.77% -6.36% -20.1%
% of Gross Profit 90.24% 66.55% 65.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $401.0M $392.0M $400.0M
YoY Change 2.3% -2.0% 1.27%
% of Gross Profit 9.93% 9.22% 8.62%
Operating Expenses $3.982B $3.153B $3.373B
YoY Change 26.29% -6.52% -18.72%
Operating Profit $55.00M $1.098B $1.269B
YoY Change -94.99% -13.48% 189.73%
Interest Expense -$151.0M -$152.0M -$156.0M
YoY Change -0.66% -2.56% 12.23%
% of Operating Profit -274.55% -13.84% -12.29%
Other Income/Expense, Net -$6.000M -$2.000M -$3.000M
YoY Change 200.0% -33.33% -25.0%
Pretax Income -$725.0M $944.0M $1.110B
YoY Change -176.8% -14.95% 276.27%
Income Tax $97.00M $370.0M $447.0M
% Of Pretax Income 39.19% 40.27%
Net Earnings -$824.0M $554.0M $663.0M
YoY Change -248.74% -16.44% 5927.27%
Net Earnings / Revenue -5.27% 3.58% 4.2%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.031M $669.1K $763.8K
COMMON SHARES
Basic Shares Outstanding 795.9M shares 825.8M shares 857.3M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $511.0M $604.0M $577.0M
YoY Change -15.4% 4.68% 20.71%
Cash & Equivalents $511.0M $588.0M $558.0M
Short-Term Investments $16.00M $19.00M
Other Short-Term Assets $938.0M $689.0M $884.0M
YoY Change 36.14% -22.06% 126.09%
Inventory $12.56B $11.39B $10.46B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $14.23B $12.77B $12.00B
YoY Change 11.4% 6.43% 13.63%
LONG-TERM ASSETS
Property, Plant & Equipment $18.43B $19.72B $19.95B
YoY Change -6.54% -1.14% 1.9%
Goodwill $303.0M $1.307B $1.082B
YoY Change -76.82% 20.79% 602.6%
Intangibles
YoY Change
Long-Term Investments $27.00M $12.00M
YoY Change 125.0% -40.0%
Other Assets $995.0M $915.0M $789.0M
YoY Change 8.74% 15.97% 54.4%
Total Long-Term Assets $20.28B $22.52B $22.41B
YoY Change -9.94% 0.5% 8.23%
TOTAL ASSETS
Total Short-Term Assets $14.23B $12.77B $12.00B
Total Long-Term Assets $20.28B $22.52B $22.41B
Total Assets $34.51B $35.29B $34.41B
YoY Change -2.22% 2.57% 10.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.279B $6.590B $6.651B
YoY Change 25.63% -0.92% 18.07%
Accrued Expenses $662.0M $747.0M $790.0M
YoY Change -11.38% -5.44% -3.66%
Deferred Revenue $1.299B $1.378B
YoY Change -5.73%
Short-Term Debt $722.0M $1.137B $510.0M
YoY Change -36.5% 122.94% 1086.05%
Long-Term Debt Due $1.110B $294.0M $795.0M
YoY Change 277.55% -63.02% -25.07%
Total Short-Term Liabilities $14.50B $12.10B $11.97B
YoY Change 19.85% 1.02% 14.13%
LONG-TERM LIABILITIES
Long-Term Debt $14.39B $15.56B $14.39B
YoY Change -7.54% 8.13% 24.68%
Other Long-Term Liabilities $1.149B $955.0M $843.0M
YoY Change 20.31% 13.29% -0.35%
Total Long-Term Liabilities $1.149B $955.0M $843.0M
YoY Change 20.31% 13.29% -0.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.50B $12.10B $11.97B
Total Long-Term Liabilities $1.149B $955.0M $843.0M
Total Liabilities $30.86B $29.42B $27.97B
YoY Change 4.92% 5.16% 18.47%
SHAREHOLDERS EQUITY
Retained Earnings $3.452B $5.425B $6.241B
YoY Change -36.37% -13.07% -17.81%
Common Stock $0.00 $22.00M $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.644B $5.873B $6.434B
YoY Change
Total Liabilities & Shareholders Equity $34.51B $35.29B $34.41B
YoY Change -2.22% 2.57% 10.05%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$824.0M $554.0M $663.0M
YoY Change -248.74% -16.44% 5927.27%
Depreciation, Depletion And Amortization $401.0M $392.0M $400.0M
YoY Change 2.3% -2.0% 1.27%
Cash From Operating Activities -$605.0M -$307.0M $348.0M
YoY Change 97.07% -188.22% 46.22%
INVESTING ACTIVITIES
Capital Expenditures -$328.0M -$336.0M -$347.0M
YoY Change -2.38% -3.17% -1.7%
Acquisitions
YoY Change
Other Investing Activities $36.00M -$33.00M $38.00M
YoY Change -209.09% -186.84% -1050.0%
Cash From Investing Activities -$292.0M -$369.0M -$309.0M
YoY Change -20.87% 19.42% -13.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -203.0M 523.0M -436.0M
YoY Change -138.81% -219.95% -37.98%
NET CHANGE
Cash From Operating Activities -605.0M -307.0M 348.0M
Cash From Investing Activities -292.0M -369.0M -309.0M
Cash From Financing Activities -203.0M 523.0M -436.0M
Net Change In Cash -1.100B -153.0M -397.0M
YoY Change 618.95% -61.46% -51.7%
FREE CASH FLOW
Cash From Operating Activities -$605.0M -$307.0M $348.0M
Capital Expenditures -$328.0M -$336.0M -$347.0M
Free Cash Flow -$277.0M $29.00M $695.0M
YoY Change -1055.17% -95.83% 17.6%

Facts In Submission

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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y0M11D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M6D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y0M15D
CY2018Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
1137000000 USD
CY2019Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
722000000 USD
CY2018Q1 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0185
CY2019Q1 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0281
CY2018Q1 us-gaap Short Term Investments
ShortTermInvestments
102000000 USD
CY2019Q1 us-gaap Short Term Investments
ShortTermInvestments
218000000 USD
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
760000 shares
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
138000000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
140000000 USD
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
115000000 USD
CY2017 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
47700000 shares
CY2018 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
39600000 shares
CY2019 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
31700000 shares
CY2017 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
3577000000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5873000000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3644000000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3000000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6000000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
2000000 USD
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0 USD
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3000000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
10000000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
3000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2019 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
5000000 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
8000000 USD
CY2019Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
564000000 USD
CY2019Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
20000000 USD
CY2019Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
352000000 USD
CY2019Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
86000000 USD
CY2019Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
1000000000 USD
CY2019Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
0 USD
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
881000000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
840000000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
812000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
880000000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
839000000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
811000000 shares
CY2019 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Fiscal Year -</font><font style="font-family:inherit;font-size:10pt;"> The Company&#8217;s fiscal year ends on the Friday nearest the end of January.&#160;&#160;Fiscal years 2018 and 2017 each contained 52 weeks and fiscal 2016 contained 53 weeks. All references herein for the years </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> represent the fiscal years ended </font><font style="font-family:inherit;font-size:10pt;">February&#160;1, 2019</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">February&#160;2, 2018</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">February&#160;3, 2017</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;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;"> - The preparation of the Company&#8217;s financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates that affect the reported amounts of assets, liabilities, sales and expenses, and related disclosures of contingent assets and liabilities.&#160;&#160;The Company bases these estimates on historical results and various other assumptions believed to be reasonable, all of which form the basis for making estimates concerning the carrying values of assets and liabilities that are not readily available from other sources.&#160;&#160;Actual results may differ from these estimates.</font></div></div>

Files In Submission

Name View Source Status
0000060667-19-000042-index-headers.html Edgar Link pending
0000060667-19-000042-index.html Edgar Link pending
0000060667-19-000042.txt Edgar Link pending
0000060667-19-000042-xbrl.zip Edgar Link pending
exhibit1043_02012019.htm Edgar Link pending
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