2015 Q2 Form 10-Q Financial Statement

#000133525815000114 Filed on August 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $1.766B $1.666B
YoY Change 6.0% -0.82%
Cost Of Revenue $1.279B $1.185B
YoY Change 7.97% -2.08%
Gross Profit $486.7M $481.1M
YoY Change 1.16% 2.45%
Gross Profit Margin 27.56% 28.88%
Selling, General & Admin $329.6M $325.9M
YoY Change 1.12% 10.21%
% of Gross Profit 67.72% 67.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $88.60M $76.20M
YoY Change 16.27% -7.86%
% of Gross Profit 18.2% 15.84%
Operating Expenses $329.6M $325.9M
YoY Change 1.12% 10.21%
Operating Profit $42.25M $55.69M
YoY Change -24.14% -43.06%
Interest Expense $25.65M $27.59M
YoY Change -7.03% -8.16%
% of Operating Profit 60.72% 49.55%
Other Income/Expense, Net $8.500M $330.0K
YoY Change 2475.76% -108.53%
Pretax Income $25.12M $30.53M
YoY Change -17.72% -54.71%
Income Tax $4.910M $4.710M
% Of Pretax Income 19.54% 15.43%
Net Earnings $15.06M $22.93M
YoY Change -34.35% -60.55%
Net Earnings / Revenue 0.85% 1.38%
Basic Earnings Per Share $0.06 $0.11
Diluted Earnings Per Share $0.06 $0.11
COMMON SHARES
Basic Shares Outstanding 200.8M shares 198.7M shares
Diluted Shares Outstanding 208.8M shares 206.0M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.526B $2.042B
YoY Change -25.27% 47.44%
Cash & Equivalents $1.526B $2.042B
Short-Term Investments
Other Short-Term Assets $46.90M $59.18M
YoY Change -20.75% -1.72%
Inventory
Prepaid Expenses $655.8M $647.1M
Receivables $524.2M $563.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.753B $3.311B
YoY Change -16.87% 23.22%
LONG-TERM ASSETS
Property, Plant & Equipment $701.8M $709.3M
YoY Change -1.07% 2.4%
Goodwill $1.619B $1.503B
YoY Change 7.75% 9.76%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $485.3M $324.8M
YoY Change 49.39% 37.12%
Total Long-Term Assets $3.961B $3.561B
YoY Change 11.23% 4.87%
TOTAL ASSETS
Total Short-Term Assets $2.753B $3.311B
Total Long-Term Assets $3.961B $3.561B
Total Assets $6.714B $6.872B
YoY Change -2.31% 12.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $86.09M $150.2M
YoY Change -42.7% -10.48%
Accrued Expenses $635.5M $709.5M
YoY Change -10.43% 12.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $57.00M $270.0M
YoY Change -78.89% 335.48%
Total Short-Term Liabilities $2.727B $2.873B
YoY Change -5.07% 14.16%
LONG-TERM LIABILITIES
Long-Term Debt $1.973B $2.039B
YoY Change -3.24% 22.68%
Other Long-Term Liabilities $128.3M $105.7M
YoY Change 21.46% 20.89%
Total Long-Term Liabilities $128.3M $105.7M
YoY Change 21.46% 20.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.727B $2.873B
Total Long-Term Liabilities $128.3M $105.7M
Total Liabilities $2.856B $2.978B
YoY Change -4.13% 14.38%
SHAREHOLDERS EQUITY
Retained Earnings -$1.086B -$961.3M
YoY Change 12.95% 5.23%
Common Stock $2.016M $1.993M
YoY Change 1.15% 1.74%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.865M $6.865M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $1.251B $1.462B
YoY Change
Total Liabilities & Shareholders Equity $6.714B $6.872B
YoY Change -2.31% 12.98%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $15.06M $22.93M
YoY Change -34.35% -60.55%
Depreciation, Depletion And Amortization $88.60M $76.20M
YoY Change 16.27% -7.86%
Cash From Operating Activities $14.80M -$28.10M
YoY Change -152.67% -125.59%
INVESTING ACTIVITIES
Capital Expenditures -$37.90M -$44.60M
YoY Change -15.02% -12.55%
Acquisitions
YoY Change
Other Investing Activities -$75.40M -$11.60M
YoY Change 550.0% -123.72%
Cash From Investing Activities -$113.3M -$56.10M
YoY Change 101.96% 2571.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.100M 489.0M
YoY Change -101.66% 1098.53%
NET CHANGE
Cash From Operating Activities 14.80M -28.10M
Cash From Investing Activities -113.3M -56.10M
Cash From Financing Activities -8.100M 489.0M
Net Change In Cash -106.6M 404.8M
YoY Change -126.33% 172.59%
FREE CASH FLOW
Cash From Operating Activities $14.80M -$28.10M
Capital Expenditures -$37.90M -$44.60M
Free Cash Flow $52.70M $16.50M
YoY Change 219.39% -89.74%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Proceeds From Debt Net Of Issuance Costs
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us-gaap Proceeds From Debt Net Of Issuance Costs
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us-gaap Proceeds From Minority Shareholders
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us-gaap Proceeds From Minority Shareholders
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us-gaap Proceeds From Sale And Collection Of Notes Receivable
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us-gaap Property Plant And Equipment Additions
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2014Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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us-gaap Repayments Of Long Term Debt
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CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q2 us-gaap Revenues
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us-gaap Revenues
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CY2015Q2 us-gaap Revenues
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CY2014Q2 us-gaap Selling General And Administrative Expense
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CY2015Q2 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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17562000 USD
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CY2014Q4 us-gaap Stockholders Equity
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CY2015Q2 us-gaap Stockholders Equity
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us-gaap Stockholders Equity Other
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CY2014Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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460000 USD
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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2504000 USD
CY2015Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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CY2014Q4 us-gaap Treasury Stock Value
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CY2015Q2 us-gaap Treasury Stock Value
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CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Prior Period Reclassification Adjustment Description
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to the prior year consolidated financial statements to conform to the 2015 presentation.&#160;The Company has reclassified </font><font style="font-family:inherit;font-size:10pt;">$20.0 million</font><font style="font-family:inherit;font-size:10pt;"> of debt issuance costs originally included in other long-term assets in the December 31, 2014 balance sheet and now reflects it as a reduction of the current portion of long-term debt and long-term debt in connection with the retrospective application of new accounting guidance for debt issuance costs as discussed below.&#160; </font></div></div>

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