2019 Q2 Form 10-Q Financial Statement

#000001892619000018 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $5.375B $5.902B
YoY Change -8.93% 44.3%
Cost Of Revenue $2.243B $2.730B
YoY Change -17.84% 44.44%
Gross Profit $3.132B $3.172B
YoY Change -1.26% 44.18%
Gross Profit Margin 58.27% 53.74%
Selling, General & Admin $960.0M $1.115B
YoY Change -13.9% 26.13%
% of Gross Profit 30.65% 35.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.196B $1.290B
YoY Change -7.29% 35.93%
% of Gross Profit 38.19% 40.67%
Operating Expenses $4.602B $5.135B
YoY Change -10.38% 37.93%
Operating Profit $976.0M $767.0M
YoY Change 27.25% 108.99%
Interest Expense $518.0M $546.0M
YoY Change -5.13% 70.63%
% of Operating Profit 53.07% 71.19%
Other Income/Expense, Net -$474.0M -$530.0M
YoY Change -10.57% 62.08%
Pretax Income $502.0M $237.0M
YoY Change 111.81% 492.5%
Income Tax $131.0M -$55.00M
% Of Pretax Income 26.1% -23.21%
Net Earnings $371.0M $292.0M
YoY Change 27.05% 1617.65%
Net Earnings / Revenue 6.9% 4.95%
Basic Earnings Per Share $0.35 $0.27
Diluted Earnings Per Share $0.35 $0.27
COMMON SHARES
Basic Shares Outstanding 1.071B shares 1.065B shares
Diluted Shares Outstanding 1.073B shares 1.069B shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $410.0M $700.0M
YoY Change -41.43% 104.68%
Cash & Equivalents $410.0M $700.0M
Short-Term Investments
Other Short-Term Assets $1.011B $1.260B
YoY Change -19.76% 82.34%
Inventory $151.0M $107.0M
Prepaid Expenses $371.0M $329.0M
Receivables $2.446B $2.471B
Other Receivables $87.00M $427.0M
Total Short-Term Assets $3.878B $4.451B
YoY Change -12.87% 53.06%
LONG-TERM ASSETS
Property, Plant & Equipment $25.86B $26.49B
YoY Change -2.39% 50.68%
Goodwill $21.53B $30.72B
YoY Change -29.91% 56.4%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.165B $1.123B
YoY Change 3.74% 36.45%
Total Long-Term Assets $60.63B $69.90B
YoY Change -13.26% 45.56%
TOTAL ASSETS
Total Short-Term Assets $3.878B $4.451B
Total Long-Term Assets $60.63B $69.90B
Total Assets $64.51B $74.35B
YoY Change -13.23% 45.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.634B $1.360B
YoY Change 20.15% 44.07%
Accrued Expenses $1.703B $1.302B
YoY Change 30.8% 35.48%
Deferred Revenue $852.0M $750.0M
YoY Change 13.6%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.595B $437.0M
YoY Change 264.99% 122.96%
Total Short-Term Liabilities $6.495B $4.521B
YoY Change 43.66% 39.41%
LONG-TERM LIABILITIES
Long-Term Debt $33.19B $36.88B
YoY Change -9.99% 48.22%
Other Long-Term Liabilities $2.622B $2.667B
YoY Change -1.69% 137.49%
Total Long-Term Liabilities $2.622B $2.667B
YoY Change -1.69% 137.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.495B $4.521B
Total Long-Term Liabilities $2.622B $2.667B
Total Liabilities $9.117B $7.188B
YoY Change 26.84% 64.64%
SHAREHOLDERS EQUITY
Retained Earnings -$7.321B $1.040B
YoY Change -803.94% -2139.22%
Common Stock $1.090B $1.079B
YoY Change 1.02% 96.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.67B $22.99B
YoY Change
Total Liabilities & Shareholders Equity $64.51B $74.35B
YoY Change -13.23% 45.99%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $371.0M $292.0M
YoY Change 27.05% 1617.65%
Depreciation, Depletion And Amortization $1.196B $1.290B
YoY Change -7.29% 35.93%
Cash From Operating Activities $1.701B $1.582B
YoY Change 7.52% 130.95%
INVESTING ACTIVITIES
Capital Expenditures -$800.0M -$771.0M
YoY Change 3.76% -7.11%
Acquisitions
YoY Change
Other Investing Activities -$11.00M $27.00M
YoY Change -140.74% -98.16%
Cash From Investing Activities -$811.0M -$744.0M
YoY Change 9.01% -216.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -924.0M -642.0M
YoY Change 43.93% -113.33%
NET CHANGE
Cash From Operating Activities 1.701B 1.582B
Cash From Investing Activities -811.0M -744.0M
Cash From Financing Activities -924.0M -642.0M
Net Change In Cash -34.00M 196.0M
YoY Change -117.35% -96.81%
FREE CASH FLOW
Cash From Operating Activities $1.701B $1.582B
Capital Expenditures -$800.0M -$771.0M
Free Cash Flow $2.501B $2.353B
YoY Change 6.29% 55.31%

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<div style="line-height:120%;text-indent:36px;font-size:10pt;"><span style="font-family:Arial;font-size:10pt;">We reclassified certain prior period amounts to conform to the current period presentation, including the categorization of our revenue and expenses in our segment reporting. See </span><span style="font-family:Arial;font-size:10pt;">Note 11—Segment Information</span><span style="font-family:Arial;font-size:10pt;"> for additional information. These changes had no impact on total operating revenue, total operating expenses or net income (loss) for any period.</span></div>
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us-gaap Amortization Of Intangible Assets
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CY2019Q2 us-gaap Operating Lease Liability
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404000000 USD
CY2019Q2 ctl Operating Lease Lease Income Percentof Operating Revenue
OperatingLeaseLeaseIncomePercentofOperatingRevenue
0.04
ctl Operating Lease Lease Income Percentof Operating Revenue
OperatingLeaseLeaseIncomePercentofOperatingRevenue
0.04
CY2018Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
253000000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
472000000 USD
CY2018Q2 ctl Operating Lease Lease Income Percentof Operating Revenue
OperatingLeaseLeaseIncomePercentofOperatingRevenue
0.04
ctl Operating Lease Lease Income Percentof Operating Revenue
OperatingLeaseLeaseIncomePercentofOperatingRevenue
0.04
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
8000000 USD
CY2019Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
263000000 USD
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
283000000 USD
CY2019Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
34788000000 USD
CY2018Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
36061000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
51000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
36000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
23000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
21000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
20000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
183000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
334000000 USD
CY2018Q4 ctl Capital Leases Future Minimum Payments Executory Costs And Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsExecutoryCostsAndInterestIncludedInPayments
100000000 USD
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
234000000 USD
CY2018Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
38000000 USD
CY2018Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
196000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
101000000 USD
CY2019Q2 ctl Finance Leaseand Other Obligations
FinanceLeaseandOtherObligations
223000000 USD
CY2018Q4 ctl Finance Leaseand Other Obligations
FinanceLeaseandOtherObligations
801000000 USD
CY2019Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
21000000 USD
CY2019Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1595000000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
652000000 USD
CY2019Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
33193000000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
35409000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
496000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1191000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3118000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5386000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2095000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
22786000000 USD
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
35072000000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
720000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
76000000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5 segment
CY2019Q2 ctl Numberof Global Enterprise Customers
NumberofGlobalEnterpriseCustomers
200 customer
CY2019Q2 ctl Numberof Operating Regions
NumberofOperatingRegions
3 regional_operating_unit
CY2019Q2 us-gaap Revenues
Revenues
5578000000 USD
CY2019Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2446000000 USD
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
960000000 USD
CY2019Q2 us-gaap Share Based Compensation
ShareBasedCompensation
43000000 USD
CY2019Q2 ctl Operating Expenses Excluding Depreciation Amortizationand Impairment
OperatingExpensesExcludingDepreciationAmortizationandImpairment
3363000000 USD
CY2019Q2 ctl Income Loss From Continuing Operations Before Interest Income Tax Depreciationand Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxDepreciationandAmortization
2215000000 USD
CY2018Q2 us-gaap Revenues
Revenues
5902000000 USD
CY2018Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2730000000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1115000000 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
54000000 USD
CY2018Q2 ctl Operating Expenses Excluding Depreciation Amortizationand Impairment
OperatingExpensesExcludingDepreciationAmortizationandImpairment
3791000000 USD
CY2018Q2 ctl Income Loss From Continuing Operations Before Interest Income Tax Depreciationand Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxDepreciationandAmortization
2111000000 USD
us-gaap Revenues
Revenues
11225000000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
4966000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1892000000 USD
ctl Operating Expenses Excluding Depreciation Amortizationand Impairment
OperatingExpensesExcludingDepreciationAmortizationandImpairment
6782000000 USD
ctl Income Loss From Continuing Operations Before Interest Income Tax Depreciationand Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxDepreciationandAmortization
4443000000 USD
us-gaap Revenues
Revenues
11847000000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5533000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2224000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
95000000 USD
ctl Operating Expenses Excluding Depreciation Amortizationand Impairment
OperatingExpensesExcludingDepreciationAmortizationandImpairment
7662000000 USD
ctl Income Loss From Continuing Operations Before Interest Income Tax Depreciationand Amortization
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxDepreciationandAmortization
4185000000 USD
CY2019Q2 ctl Universal Service Taxes And Surcharges
UniversalServiceTaxesAndSurcharges
232000000 USD
CY2018Q2 ctl Universal Service Taxes And Surcharges
UniversalServiceTaxesAndSurcharges
229000000 USD
ctl Universal Service Taxes And Surcharges
UniversalServiceTaxesAndSurcharges
480000000 USD
ctl Universal Service Taxes And Surcharges
UniversalServiceTaxesAndSurcharges
476000000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
43000000 USD
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
54000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
76000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
95000000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
502000000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
237000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5525000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
473000000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
131000000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-55000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
269000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
66000000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
371000000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
292000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-5794000000 USD
us-gaap Net Income Loss
NetIncomeLoss
407000000 USD
CY2019Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
134000000 USD
us-gaap Loss Contingency Patents Allegedly Infringed Number
LossContingencyPatentsAllegedlyInfringedNumber
1 lawsuit
ctl Site Contingency Number Of Properties With Potential Environmental Liability
SiteContingencyNumberOfPropertiesWithPotentialEnvironmentalLiability
200 property
CY2019Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
371000000 USD
CY2018Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
307000000 USD
CY2019Q2 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
87000000 USD
CY2018Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
82000000 USD
CY2019Q2 us-gaap Materials Supplies And Other
MaterialsSuppliesAndOther
151000000 USD
CY2018Q4 us-gaap Materials Supplies And Other
MaterialsSuppliesAndOther
120000000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
57000000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
52000000 USD
CY2019Q2 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
66000000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
108000000 USD
CY2019Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1011000000 USD
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
918000000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-46000000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-88000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
42000000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-160000000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-71000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-89000000 USD
CY2019Q2 dei Entity Number Of Employees
EntityNumberOfEmployees
43000 Employee

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