2018 Q1 Form 10-Q Financial Statement

#000001892618000020 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $5.945B $4.209B
YoY Change 41.24% -4.36%
Cost Of Revenue $2.803B $1.888B
YoY Change 48.46% -0.63%
Gross Profit $3.142B $2.321B
YoY Change 35.37% -7.2%
Gross Profit Margin 52.85% 55.14%
Selling, General & Admin $1.109B $810.0M
YoY Change 36.91% -3.23%
% of Gross Profit 35.3% 34.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.283B $880.0M
YoY Change 45.8% -9.84%
% of Gross Profit 40.83% 37.91%
Operating Expenses $5.195B $3.578B
YoY Change 45.19% -3.64%
Operating Profit $750.0M $631.0M
YoY Change 18.86% -8.28%
Interest Expense $535.0M $318.0M
YoY Change 68.24% -3.93%
% of Operating Profit 71.33% 50.4%
Other Income/Expense, Net -$514.0M -$324.0M
YoY Change 58.64% 5.19%
Pretax Income $236.0M $307.0M
YoY Change -23.13% -19.21%
Income Tax $121.0M $144.0M
% Of Pretax Income 51.27% 46.91%
Net Earnings $115.0M $163.0M
YoY Change -29.45% -30.93%
Net Earnings / Revenue 1.93% 3.87%
Basic Earnings Per Share $0.11 $0.30
Diluted Earnings Per Share $0.11 $0.30
COMMON SHARES
Basic Shares Outstanding 1.066B shares 540.5M shares
Diluted Shares Outstanding 1.069B shares 541.5M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $501.0M $214.0M
YoY Change 134.11% -51.14%
Cash & Equivalents $501.0M $214.0M
Short-Term Investments
Other Short-Term Assets $1.105B $557.0M
YoY Change 98.38% -9.72%
Inventory $111.0M $138.0M
Prepaid Expenses $353.0M $272.0M
Receivables $2.432B $1.854B
Other Receivables $256.0M $0.00
Total Short-Term Assets $4.183B $4.968B
YoY Change -15.8% 69.79%
LONG-TERM ASSETS
Property, Plant & Equipment $26.83B $17.02B
YoY Change 57.65% -5.27%
Goodwill $30.78B $19.65B
YoY Change 56.63% -5.27%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.047B $838.0M
YoY Change 24.94% 26.59%
Total Long-Term Assets $70.61B $41.63B
YoY Change 69.6% -6.63%
TOTAL ASSETS
Total Short-Term Assets $4.183B $4.968B
Total Long-Term Assets $70.61B $41.63B
Total Assets $74.79B $46.60B
YoY Change 60.49% -1.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.508B $994.0M
YoY Change 51.71% -4.33%
Accrued Expenses $1.212B $932.0M
YoY Change 30.04% 15.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $437.0M $1.499B
YoY Change -70.85% 189.94%
Total Short-Term Liabilities $4.767B $5.096B
YoY Change -6.46% 33.19%
LONG-TERM LIABILITIES
Long-Term Debt $36.94B $18.18B
YoY Change 103.19% -6.81%
Other Long-Term Liabilities $2.362B $1.111B
YoY Change 112.6% 0.45%
Total Long-Term Liabilities $2.362B $1.111B
YoY Change 112.6% 0.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.767B $5.096B
Total Long-Term Liabilities $2.362B $1.111B
Total Liabilities $7.129B $6.207B
YoY Change 14.85% 25.85%
SHAREHOLDERS EQUITY
Retained Earnings $1.336B $110.0M
YoY Change 1114.55% -48.36%
Common Stock $1.079B $549.0M
YoY Change 96.54% 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.44B $13.31B
YoY Change
Total Liabilities & Shareholders Equity $74.79B $46.60B
YoY Change 60.49% -1.93%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $115.0M $163.0M
YoY Change -29.45% -30.93%
Depreciation, Depletion And Amortization $1.283B $880.0M
YoY Change 45.8% -9.84%
Cash From Operating Activities $1.667B $1.057B
YoY Change 57.71% -25.72%
INVESTING ACTIVITIES
Capital Expenditures -$805.0M -$780.0M
YoY Change 3.21% 27.66%
Acquisitions
YoY Change
Other Investing Activities -$34.00M -$3.000M
YoY Change 1033.33% -400.0%
Cash From Investing Activities -$768.0M -$732.0M
YoY Change 4.92% 20.99%
FINANCING ACTIVITIES
Cash Dividend Paid $580.0M $296.0M
YoY Change 95.95% 2.07%
Common Stock Issuance & Retirement, Net $25.00M $11.00M
YoY Change 127.27% 37.5%
Debt Paid & Issued, Net $68.00M $31.00M
YoY Change 119.35% 24.0%
Cash From Financing Activities -$949.0M -333.0M
YoY Change 184.98% -34.19%
NET CHANGE
Cash From Operating Activities $1.667B 1.057B
Cash From Investing Activities -$768.0M -732.0M
Cash From Financing Activities -$949.0M -333.0M
Net Change In Cash -$50.00M -$8.000M
YoY Change 525.0% -102.56%
FREE CASH FLOW
Cash From Operating Activities $1.667B $1.057B
Capital Expenditures -$805.0M -$780.0M
Free Cash Flow $2.472B $1.837B
YoY Change 34.57% -9.69%

Facts In Submission

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CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-514000000 USD
CY2017Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2018Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2017Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-2000000 USD
CY2018Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
79000000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
3578000000 USD
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
5195000000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
631000000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
750000000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
941000000 USD
CY2018Q1 us-gaap Other Assets Current
OtherAssetsCurrent
1105000000 USD
CY2017Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
133000000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1286000000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1047000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
2000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
2000000 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
CY2018Q1 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 Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
79000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
14000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
31000000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
114000000 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
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-33000000 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
CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
11000000 USD
CY2017Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
128000000 USD
CY2018Q1 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
157000000 USD
CY2017Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
1897000000 USD
CY2018Q1 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
1870000000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
344000000 USD
CY2018Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
428000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2389000000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2362000000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
21000000 USD
CY2017Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
265000000 USD
CY2018Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
354000000 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3000000 USD
CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
14000000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25000000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
296000000 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
580000000 USD
CY2017Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
780000000 USD
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
805000000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
5178000000 USD
CY2018Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
5085000000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
25.00
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
25.00
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7000 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
7000 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
7000 shares
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
7000 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
294000000 USD
CY2018Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
353000000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3000000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
130000000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
5000000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-405000000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
45000000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
3000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26852000000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26826000000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
47000000 USD
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
47000000 USD
CY2017Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-33000000 USD
CY2018Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-35000000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
31000000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
68000000 USD
CY2017Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
5000000 USD
CY2018Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
5000000 USD
CY2017Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
31000000 USD
CY2018Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
31000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1103000000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1336000000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5633000000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
15500000000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P2Y9M
CY2017Q1 us-gaap Revenues
Revenues
4209000000 USD
CY2018Q1 us-gaap Revenues
Revenues
5945000000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
810000000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1109000000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
21000000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
41000000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
13306000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
23491000000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
23443000000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
370000000 USD
CY2018Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
390000000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
541522000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1069183000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
540458000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1065796000 shares
CY2018Q1 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;10&#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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