$LUMN
Lumen Technologies, Inc.

2016 Q1 Form 10-Q Financial Statement

#000001892616000055 Filed on May 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $4.401B $4.451B
YoY Change -1.12% -1.92%
Cost Of Revenue $1.900B $1.911B
YoY Change -0.58% -1.24%
Gross Profit $2.501B $2.540B
YoY Change -1.54% -2.42%
Gross Profit Margin 56.83% 57.07%
Selling, General & Admin $837.0M $851.0M
YoY Change -1.65% 0.95%
% of Gross Profit 33.47% 33.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $976.0M $1.040B
YoY Change -6.15% -6.05%
% of Gross Profit 39.02% 40.94%
Operating Expenses $3.713B $3.802B
YoY Change -2.34% -2.14%
Operating Profit $688.0M $649.0M
YoY Change 6.01% -0.61%
Interest Expense $331.0M $328.0M
YoY Change 0.91% -0.91%
% of Operating Profit 48.11% 50.54%
Other Income/Expense, Net -$308.0M -$326.0M
YoY Change -5.52% 1.24%
Pretax Income $380.0M $323.0M
YoY Change 17.65% -2.42%
Income Tax $144.0M $131.0M
% Of Pretax Income 37.89% 40.56%
Net Earnings $236.0M $192.0M
YoY Change 22.92% -5.42%
Net Earnings / Revenue 5.36% 4.31%
Basic Earnings Per Share $0.44 $0.34
Diluted Earnings Per Share $0.44 $0.34
COMMON SHARES
Basic Shares Outstanding 538.8M shares 562.0M shares
Diluted Shares Outstanding 540.2M shares 563.5M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $438.0M $155.0M
YoY Change 182.58% -29.22%
Cash & Equivalents $438.0M $155.0M
Short-Term Investments
Other Short-Term Assets $617.0M $622.0M
YoY Change -0.8% -1.58%
Inventory $136.0M $137.0M
Prepaid Expenses $276.0M $293.0M
Receivables $1.871B $1.973B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.926B $3.468B
YoY Change -15.63% -7.47%
LONG-TERM ASSETS
Property, Plant & Equipment $17.96B $18.18B
YoY Change -1.21% -1.68%
Goodwill $20.74B $20.75B
YoY Change -0.05% 0.38%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $662.0M $856.0M
YoY Change -22.66% 2.64%
Total Long-Term Assets $44.59B $46.05B
YoY Change -3.17% -2.88%
TOTAL ASSETS
Total Short-Term Assets $2.926B $3.468B
Total Long-Term Assets $44.59B $46.05B
Total Assets $47.52B $49.52B
YoY Change -4.04% -3.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.039B $1.068B
YoY Change -2.72% -9.72%
Accrued Expenses $808.0M $893.0M
YoY Change -9.52% -9.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $517.0M $202.0M
YoY Change 155.94% -82.06%
Total Short-Term Liabilities $3.826B $3.579B
YoY Change 6.9% -22.55%
LONG-TERM LIABILITIES
Long-Term Debt $19.51B $20.25B
YoY Change -3.68% 2.22%
Other Long-Term Liabilities $1.106B $1.246B
YoY Change -11.24% 2.81%
Total Long-Term Liabilities $1.106B $1.246B
YoY Change -11.24% 2.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.826B $3.579B
Total Long-Term Liabilities $1.106B $1.246B
Total Liabilities $4.932B $4.825B
YoY Change 2.22% -17.28%
SHAREHOLDERS EQUITY
Retained Earnings $213.0M $141.0M
YoY Change 51.06% -2.08%
Common Stock $546.0M $566.0M
YoY Change -3.53% -1.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.04B $14.77B
YoY Change
Total Liabilities & Shareholders Equity $47.52B $49.52B
YoY Change -4.04% -3.22%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $236.0M $192.0M
YoY Change 22.92% -5.42%
Depreciation, Depletion And Amortization $976.0M $1.040B
YoY Change -6.15% -6.05%
Cash From Operating Activities $1.423B $1.336B
YoY Change 6.51% -3.19%
INVESTING ACTIVITIES
Capital Expenditures -$611.0M -$616.0M
YoY Change -0.81% -191.94%
Acquisitions
YoY Change
Other Investing Activities $1.000M $8.000M
YoY Change -87.5% -38.46%
Cash From Investing Activities -$605.0M -$610.0M
YoY Change -0.82% -10.56%
FINANCING ACTIVITIES
Cash Dividend Paid $290.0M $304.0M
YoY Change -4.61% -1.62%
Common Stock Issuance & Retirement, Net $8.000M $177.0M
YoY Change -95.48% -44.86%
Debt Paid & Issued, Net $25.00M $386.0M
YoY Change -93.52% 721.28%
Cash From Financing Activities -506.0M -699.0M
YoY Change -27.61% 8.04%
NET CHANGE
Cash From Operating Activities 1.423B 1.336B
Cash From Investing Activities -605.0M -610.0M
Cash From Financing Activities -506.0M -699.0M
Net Change In Cash 312.0M 27.00M
YoY Change 1055.56% -47.06%
FREE CASH FLOW
Cash From Operating Activities $1.423B $1.336B
Capital Expenditures -$611.0M -$616.0M
Free Cash Flow $2.034B $1.952B
YoY Change 4.2% 174.93%

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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
27000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-23000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-26000000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-15000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-16000000 USD
CY2015Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
105000000 USD
CY2016Q1 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
106000000 USD
CY2015Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
1555000000 USD
CY2016Q1 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
1525000000 USD
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
220000000 USD
CY2016Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
302000000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1138000000 USD
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1106000000 USD
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
17000000 USD
CY2015Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
168000000 USD
CY2016Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
233000000 USD
CY2015Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8000000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1000000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
185000000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12000000 USD
CY2015Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
304000000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
290000000 USD
CY2015Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
616000000 USD
CY2016Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
611000000 USD
CY2015Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
5511000000 USD
CY2016Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
5445000000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
25.00
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
25.00
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7000 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7000 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
7000 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
7000 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
238000000 USD
CY2016Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
276000000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8000000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
594000000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
227000000 USD
CY2015Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1000000 USD
CY2016Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2015Q1 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-425000000 USD
CY2016Q1 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-410000000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
14000000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
7000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
38785000000 USD
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39229000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18069000000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17963000000 USD
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
42000000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
46000000 USD
CY2015Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-27000000 USD
CY2016Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-28000000 USD
CY2015Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
386000000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
25000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
272000000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
213000000 USD
CY2015Q1 us-gaap Revenues
Revenues
4451000000 USD
CY2016Q1 us-gaap Revenues
Revenues
4401000000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
851000000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
831000000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
18000000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
18000000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
14765000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
14060000000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
14036000000 USD
CY2015Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
318000000 USD
CY2016Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
458000000 USD
CY2015Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
179000000 USD
CY2016Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
185000000 USD
CY2015Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2016Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
563505000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
540187000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
561969000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
538799000 shares
CY2016Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We reclassified certain prior period amounts to conform to the current period presentation, including the categorization of our revenues and our segment reporting. See Note&#160;7&#8212;Segment Information for additional information. These changes had no impact on total operating revenues, total operating expenses or net income for any period.</font></div></div>

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