$LUMN
Lumen Technologies, Inc.

2017 Q1 Form 10-Q Financial Statement

#000001892617000023 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1 2015 Q4
Revenue $4.209B $4.401B $4.476B
YoY Change -4.36% -1.12% 0.86%
Cost Of Revenue $1.888B $1.900B $1.901B
YoY Change -0.63% -0.58% -2.96%
Gross Profit $2.321B $2.501B $2.575B
YoY Change -7.2% -1.54% 3.87%
Gross Profit Margin 55.14% 56.83% 57.53%
Selling, General & Admin $810.0M $837.0M $739.0M
YoY Change -3.23% -1.65% -9.21%
% of Gross Profit 34.9% 33.47% 28.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $880.0M $976.0M $1.053B
YoY Change -9.84% -6.15% -6.9%
% of Gross Profit 37.91% 39.02% 40.89%
Operating Expenses $3.578B $3.713B $1.792B
YoY Change -3.64% -2.34% -7.87%
Operating Profit $631.0M $688.0M $751.0M
YoY Change -8.28% 6.01% 55.49%
Interest Expense $318.0M $331.0M -$328.0M
YoY Change -3.93% 0.91% -0.61%
% of Operating Profit 50.4% 48.11% -43.68%
Other Income/Expense, Net -$324.0M -$308.0M $7.000M
YoY Change 5.19% -5.52% 75.0%
Pretax Income $307.0M $380.0M $430.0M
YoY Change -19.21% 17.65% 173.89%
Income Tax $144.0M $144.0M $92.00M
% Of Pretax Income 46.91% 37.89% 21.4%
Net Earnings $163.0M $236.0M $338.0M
YoY Change -30.93% 22.92% 79.79%
Net Earnings / Revenue 3.87% 5.36% 7.55%
Basic Earnings Per Share $0.30 $0.44 $0.62
Diluted Earnings Per Share $0.30 $0.44 $0.62
COMMON SHARES
Basic Shares Outstanding 540.5M shares 538.8M shares 549.0M shares
Diluted Shares Outstanding 541.5M shares 540.2M shares

Balance Sheet

Concept 2017 Q1 2016 Q1 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $214.0M $438.0M $126.0M
YoY Change -51.14% 182.58% -1.56%
Cash & Equivalents $214.0M $438.0M $126.0M
Short-Term Investments
Other Short-Term Assets $557.0M $617.0M $573.0M
YoY Change -9.72% -0.8% -1.21%
Inventory $138.0M $136.0M $144.0M
Prepaid Expenses $272.0M $276.0M $238.0M
Receivables $1.854B $1.871B $1.943B
Other Receivables $0.00 $0.00 $306.0M
Total Short-Term Assets $4.968B $2.926B $2.650B
YoY Change 69.79% -15.63% -1.71%
LONG-TERM ASSETS
Property, Plant & Equipment $17.02B $17.96B $18.07B
YoY Change -5.27% -1.21% -1.97%
Goodwill $19.65B $20.74B $20.74B
YoY Change -5.27% -0.05% -0.06%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $838.0M $662.0M $660.0M
YoY Change 26.59% -22.66% -2.8%
Total Long-Term Assets $41.63B $44.59B $44.95B
YoY Change -6.63% -3.17% -3.13%
TOTAL ASSETS
Total Short-Term Assets $4.968B $2.926B $2.650B
Total Long-Term Assets $41.63B $44.59B $44.95B
Total Assets $46.60B $47.52B $47.60B
YoY Change -1.93% -4.04% -3.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $994.0M $1.039B $968.0M
YoY Change -4.33% -2.72% -21.04%
Accrued Expenses $932.0M $808.0M $884.0M
YoY Change 15.35% -9.52% -1.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.499B $517.0M $1.503B
YoY Change 189.94% 155.94% 173.27%
Total Short-Term Liabilities $5.096B $3.826B $4.604B
YoY Change 33.19% 6.9% 17.51%
LONG-TERM LIABILITIES
Long-Term Debt $18.18B $19.51B $18.72B
YoY Change -6.81% -3.68% -6.95%
Other Long-Term Liabilities $1.111B $1.106B $1.138B
YoY Change 0.45% -11.24% -8.74%
Total Long-Term Liabilities $1.111B $1.106B $1.138B
YoY Change 0.45% -11.24% -8.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.096B $3.826B $4.604B
Total Long-Term Liabilities $1.111B $1.106B $1.138B
Total Liabilities $6.207B $4.932B $5.742B
YoY Change 25.85% 2.22% 11.17%
SHAREHOLDERS EQUITY
Retained Earnings $110.0M $213.0M $272.0M
YoY Change -48.36% 51.06% 85.03%
Common Stock $549.0M $546.0M $544.0M
YoY Change 0.55% -3.53% -4.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.31B $14.04B $14.06B
YoY Change
Total Liabilities & Shareholders Equity $46.60B $47.52B $47.60B
YoY Change -1.93% -4.04% -3.05%

Cashflow Statement

Concept 2017 Q1 2016 Q1 2015 Q4
OPERATING ACTIVITIES
Net Income $163.0M $236.0M $338.0M
YoY Change -30.93% 22.92% 79.79%
Depreciation, Depletion And Amortization $880.0M $976.0M $1.053B
YoY Change -9.84% -6.15% -6.9%
Cash From Operating Activities $1.057B $1.423B $1.196B
YoY Change -25.72% 6.51% -4.4%
INVESTING ACTIVITIES
Capital Expenditures -$780.0M -$611.0M -$833.0M
YoY Change 27.66% -0.81% -10.81%
Acquisitions
YoY Change
Other Investing Activities -$3.000M $1.000M $2.000M
YoY Change -400.0% -87.5% -106.67%
Cash From Investing Activities -$732.0M -$605.0M -$831.0M
YoY Change 20.99% -0.82% -13.8%
FINANCING ACTIVITIES
Cash Dividend Paid $296.0M $290.0M
YoY Change 2.07% -4.61%
Common Stock Issuance & Retirement, Net $11.00M $8.000M
YoY Change 37.5% -95.48%
Debt Paid & Issued, Net $31.00M $25.00M
YoY Change 24.0% -93.52%
Cash From Financing Activities -333.0M -506.0M -594.0M
YoY Change -34.19% -27.61% -33.48%
NET CHANGE
Cash From Operating Activities 1.057B 1.423B 1.196B
Cash From Investing Activities -732.0M -605.0M -831.0M
Cash From Financing Activities -333.0M -506.0M -594.0M
Net Change In Cash -$8.000M 312.0M -229.0M
YoY Change -102.56% 1055.56% -62.21%
FREE CASH FLOW
Cash From Operating Activities $1.057B $1.423B $1.196B
Capital Expenditures -$780.0M -$611.0M -$833.0M
Free Cash Flow $1.837B $2.034B $2.029B
YoY Change -9.69% 4.2% -7.14%

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CY2016Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-1000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-1000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
27000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
31000000 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
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-31000000 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
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-20000000 USD
CY2016Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
101000000 USD
CY2017Q1 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
105000000 USD
CY2016Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
1531000000 USD
CY2017Q1 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
1534000000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
213000000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
177000000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1086000000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23000000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000000 USD
CY2016Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
152000000 USD
CY2017Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
124000000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1000000 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3000000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12000000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
14000000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
290000000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
296000000 USD
CY2016Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
611000000 USD
CY2017Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
780000000 USD
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
5527000000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
5448000000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
25.00
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
25.00
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7000 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7000 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
7000 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
7000 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
206000000 USD
CY2017Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
272000000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3000000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
227000000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2016Q1 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
-410000000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
5000000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
7000000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
45000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39194000000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
39642000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17039000000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17016000000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
46000000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
47000000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
25000000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
31000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1000000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
110000000 USD
CY2016Q1 us-gaap Revenues
Revenues
4401000000 USD
CY2017Q1 us-gaap Revenues
Revenues
4209000000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
837000000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
810000000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
18000000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
21000000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
14036000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
13399000000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
13306000000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
301000000 USD
CY2017Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
460000000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
540187000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
541522000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
538799000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
540458000 shares
CY2017Q1 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:30px;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;9&#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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