2015 Q4 Form 10-Q Financial Statement

#000133525815000127 Filed on October 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $1.737B $2.623B $2.502B
YoY Change 10.49% 4.83% 10.6%
Cost Of Revenue $1.222B $1.974B $1.877B
YoY Change 8.35% 5.21% 10.47%
Gross Profit $515.0M $648.6M $625.5M
YoY Change 15.91% 3.69% 11.0%
Gross Profit Margin 29.65% 24.73% 25.0%
Selling, General & Admin $421.7M $365.2M $349.7M
YoY Change 11.09% 4.45% 7.59%
% of Gross Profit 81.88% 56.31% 55.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $125.1M $99.00M $97.90M
YoY Change 12.2% 1.12% 5.61%
% of Gross Profit 24.29% 15.26% 15.65%
Operating Expenses $546.7M $365.2M $349.7M
YoY Change 11.34% 4.45% 7.59%
Operating Profit -$40.45M $153.5M $150.6M
YoY Change -78.35% 1.93% 19.49%
Interest Expense -$24.00M $25.84M $28.35M
YoY Change -10.78% -8.83% -3.56%
% of Operating Profit 16.84% 18.82%
Other Income/Expense, Net -$6.500M -$8.127M -$12.59M
YoY Change -332.14% -35.43% -338.89%
Pretax Income -$70.90M $118.0M $112.7M
YoY Change -66.38% 4.68% 73.83%
Income Tax $2.900M $13.58M -$3.137M
% Of Pretax Income 11.51% -2.78%
Net Earnings -$78.33M $89.05M $105.2M
YoY Change -57.99% -15.32% 140.24%
Net Earnings / Revenue -4.51% 3.4% 4.2%
Basic Earnings Per Share -$0.47 $0.39 $0.52
Diluted Earnings Per Share -$0.47 $0.38 $0.49
COMMON SHARES
Basic Shares Outstanding 202.4M shares 201.4M shares 199.3M shares
Diluted Shares Outstanding 208.7M shares 221.6M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.303B $1.061B $1.358B
YoY Change -5.72% -21.87% 4.22%
Cash & Equivalents $1.303B $1.061B $1.358B
Short-Term Investments
Other Short-Term Assets $36.36M $48.48M $47.88M
YoY Change 39.38% 1.24% 0.22%
Inventory $14.39M
Prepaid Expenses $496.2M $555.4M $484.6M
Receivables $452.6M $631.3M $607.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.288B $2.297B $2.498B
YoY Change 0.91% -8.06% 5.64%
LONG-TERM ASSETS
Property, Plant & Equipment $731.3M $719.5M $695.9M
YoY Change 5.17% 3.39% -0.15%
Goodwill $1.604B $1.630B $1.485B
YoY Change 8.47% 9.76% 6.24%
Intangibles
YoY Change
Long-Term Investments $82.00M
YoY Change -35.43%
Other Assets $385.2M $477.8M $379.9M
YoY Change -18.74% 25.79% 48.64%
Total Long-Term Assets $3.868B $3.969B $3.550B
YoY Change 4.52% 11.8% 4.07%
TOTAL ASSETS
Total Short-Term Assets $2.288B $2.297B $2.498B
Total Long-Term Assets $3.868B $3.969B $3.550B
Total Assets $6.156B $6.265B $6.048B
YoY Change 3.15% 3.6% 4.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $58.61M $88.22M $96.10M
YoY Change -20.96% -8.21% -15.24%
Accrued Expenses $686.7M $785.9M $763.8M
YoY Change 1.6% 2.89% -2.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $42.00M $42.00M $48.00M
YoY Change -10.64% -12.5% -81.82%
Total Short-Term Liabilities $2.101B $2.132B $1.992B
YoY Change 4.5% 7.02% -10.83%
LONG-TERM LIABILITIES
Long-Term Debt $2.003B $1.994B $2.027B
YoY Change 0.35% -1.63% 31.54%
Other Long-Term Liabilities $142.3M $136.0M $107.7M
YoY Change 26.79% 26.27% 16.68%
Total Long-Term Liabilities $142.3M $136.0M $107.7M
YoY Change 26.79% 26.27% 16.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.101B $2.132B $1.992B
Total Long-Term Liabilities $142.3M $136.0M $107.7M
Total Liabilities $2.243B $2.268B $2.100B
YoY Change 5.68% 8.01% -9.73%
SHAREHOLDERS EQUITY
Retained Earnings -$1.075B -$996.8M -$856.1M
YoY Change 3.12% 16.43% -1.56%
Common Stock $2.020M $2.019M $1.998M
YoY Change 0.8% 1.05% 1.27%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.865M $6.865M $6.865M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 408.0K shares
Shareholders Equity $1.237B $1.331B $1.505B
YoY Change
Total Liabilities & Shareholders Equity $6.156B $6.265B $6.048B
YoY Change 3.15% 3.6% 4.71%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$78.33M $89.05M $105.2M
YoY Change -57.99% -15.32% 140.24%
Depreciation, Depletion And Amortization $125.1M $99.00M $97.90M
YoY Change 12.2% 1.12% 5.61%
Cash From Operating Activities $322.8M -$377.4M -$345.0M
YoY Change 8.07% 9.39% 197.93%
INVESTING ACTIVITIES
Capital Expenditures -$57.30M -$30.20M -$29.10M
YoY Change 28.19% 3.78% 8.18%
Acquisitions
YoY Change
Other Investing Activities -$6.600M -$33.00M -$44.10M
YoY Change -96.34% -25.17% -964.71%
Cash From Investing Activities -$63.90M -$63.20M -$73.40M
YoY Change -71.63% -13.9% 236.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.70M -1.000M -232.9M
YoY Change -57.71% -99.57% -884.18%
NET CHANGE
Cash From Operating Activities 322.8M -377.4M -345.0M
Cash From Investing Activities -63.90M -63.20M -73.40M
Cash From Financing Activities -10.70M -1.000M -232.9M
Net Change In Cash 248.2M -441.6M -651.3M
YoY Change 414.94% -32.2% 503.61%
FREE CASH FLOW
Cash From Operating Activities $322.8M -$377.4M -$345.0M
Capital Expenditures -$57.30M -$30.20M -$29.10M
Free Cash Flow $380.1M -$347.2M -$315.9M
YoY Change 10.69% 9.91% 255.34%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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6000 USD
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 Payments To Acquire Property Plant And Equipment
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CY2014Q3 us-gaap Revenues
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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CY2014Q4 us-gaap Stockholders Equity
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CY2015Q3 us-gaap Stockholders Equity
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q3 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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CY2014Q3 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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