2015 Q1 Form 10-Q Financial Statement

#000114139115000030 Filed on April 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $2.230B $2.172B
YoY Change 2.67% 13.96%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $847.0M $842.0M
YoY Change 0.59% 10.64%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $87.00M $73.00M
YoY Change 19.18% 17.74%
% of Gross Profit
Operating Expenses $879.0M $915.0M
YoY Change -3.93% 11.18%
Operating Profit $1.351B $1.285B
YoY Change 5.14% 16.08%
Interest Expense $17.00M $6.000M
YoY Change 183.33% 20.0%
% of Operating Profit 1.26% 0.47%
Other Income/Expense, Net -$11.00M -$4.000M
YoY Change 175.0% -20.0%
Pretax Income $1.340B $1.281B
YoY Change 4.61% 16.24%
Income Tax $320.0M $411.0M
% Of Pretax Income 23.88% 32.08%
Net Earnings $1.020B $870.0M
YoY Change 17.24% 13.58%
Net Earnings / Revenue 45.74% 40.06%
Basic Earnings Per Share $0.89 $0.73
Diluted Earnings Per Share $0.89 $0.73
COMMON SHARES
Basic Shares Outstanding 1.148B shares 1.185B shares
Diluted Shares Outstanding 1.152B shares 1.189B shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.796B $6.562B
YoY Change -11.67% 30.72%
Cash & Equivalents $4.207B $4.019B
Short-Term Investments $1.589B $2.543B
Other Short-Term Assets $272.0M $207.0M
YoY Change 31.4% 19.65%
Inventory
Prepaid Expenses
Receivables $1.072B $995.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $10.35B $11.34B
YoY Change -8.76% 29.14%
LONG-TERM ASSETS
Property, Plant & Equipment $602.0M $528.0M
YoY Change 14.02% 12.82%
Goodwill $1.469B $1.286B
YoY Change 14.23% 23.42%
Intangibles $648.0M $723.0M
YoY Change -10.37% 13.5%
Long-Term Investments $242.0M $173.0M
YoY Change 39.88% -37.09%
Other Assets $1.490B $858.0M
YoY Change 73.66% 4.63%
Total Long-Term Assets $4.285B $3.460B
YoY Change 23.84% 14.34%
TOTAL ASSETS
Total Short-Term Assets $10.35B $11.34B
Total Long-Term Assets $4.285B $3.460B
Total Assets $14.63B $14.80B
YoY Change -1.14% 25.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $406.0M $297.0M
YoY Change 36.7% 13.36%
Accrued Expenses $2.169B $2.128B
YoY Change 1.93% 24.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.937B $5.994B
YoY Change -0.95% 35.8%
LONG-TERM LIABILITIES
Long-Term Debt $1.495B $1.494B
YoY Change 0.07%
Other Long-Term Liabilities $765.0M $619.0M
YoY Change 23.59% 14.63%
Total Long-Term Liabilities $2.260B $2.113B
YoY Change 6.96% 291.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.937B $5.994B
Total Long-Term Liabilities $2.260B $2.113B
Total Liabilities $8.299B $8.224B
YoY Change 0.91% 62.75%
SHAREHOLDERS EQUITY
Retained Earnings $14.01B $10.86B
YoY Change 28.96% 34.97%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.95B $8.243B
YoY Change 32.83% 68.16%
Treasury Stock Shares 247.9M shares 214.0M shares
Shareholders Equity $6.301B $6.567B
YoY Change
Total Liabilities & Shareholders Equity $14.63B $14.80B
YoY Change -1.14% 25.35%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $1.020B $870.0M
YoY Change 17.24% 13.58%
Depreciation, Depletion And Amortization $87.00M $73.00M
YoY Change 19.18% 17.74%
Cash From Operating Activities $911.0M $568.0M
YoY Change 60.39% -34.86%
INVESTING ACTIVITIES
Capital Expenditures $31.00M $25.00M
YoY Change 24.0% 25.0%
Acquisitions $12.00M $146.0M
YoY Change -91.78%
Other Investing Activities $9.000M $5.000M
YoY Change 80.0% 150.0%
Cash From Investing Activities -$519.0M $130.0M
YoY Change -499.23% -221.5%
FINANCING ACTIVITIES
Cash Dividend Paid $184.0M $131.0M
YoY Change 40.46% 254.05%
Common Stock Issuance & Retirement, Net $947.0M $1.669B
YoY Change -43.26% 117.89%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.100B -$279.0M
YoY Change 294.27% -64.37%
NET CHANGE
Cash From Operating Activities $911.0M $568.0M
Cash From Investing Activities -$519.0M $130.0M
Cash From Financing Activities -$1.100B -$279.0M
Net Change In Cash -$708.0M $419.0M
YoY Change -268.97% -2427.78%
FREE CASH FLOW
Cash From Operating Activities $911.0M $568.0M
Capital Expenditures $31.00M $25.00M
Free Cash Flow $880.0M $543.0M
YoY Change 62.06% -36.27%

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2 business
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1 business
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CY2014Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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5000000 USD
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CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
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25000000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
31000000 USD
CY2014Q1 us-gaap Payments To Acquire Software
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24000000 USD
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PaymentsToAcquireSoftware
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CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
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425000000 USD
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166000000 USD
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CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
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8000000 USD
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10000000 USD
CY2014Q1 us-gaap Profit Loss
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CY2015Q1 us-gaap Profit Loss
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CY2014Q4 us-gaap Property Plant And Equipment Net
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540000000 USD
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540000000 USD
CY2014Q4 us-gaap Restructuring Reserve
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CY2015Q1 us-gaap Restructuring Reserve
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68000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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13169000000 USD
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14006000000 USD
CY2014Q1 us-gaap Revenues
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2172000000 USD
CY2015Q1 us-gaap Revenues
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2230000000 USD
CY2014Q4 us-gaap Severance Costs1
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87000000 USD
CY2014Q1 us-gaap Share Based Compensation
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CY2015Q1 us-gaap Share Based Compensation
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CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.206
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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1618000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
6790000000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
6301000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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6824000000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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6334000000 USD
CY2014Q4 us-gaap Taxes Payable Current
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105000000 USD
CY2015Q1 us-gaap Taxes Payable Current
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137000000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
237008743 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
247890237 shares
CY2014Q4 us-gaap Treasury Stock Value
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9995000000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
10949000000 USD
CY2014Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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4000000 shares
CY2015Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1189000000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1152000000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1185000000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1148000000 shares

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