2018 Q2 Form 10-Q Financial Statement

#000162828018010613 Filed on August 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $5.409B $5.211B
YoY Change 3.8% 33.55%
Cost Of Revenue $4.298B $4.141B
YoY Change 3.79% 24.92%
Gross Profit $1.111B $1.070B
YoY Change 3.83% 82.28%
Gross Profit Margin 20.54% 20.53%
Selling, General & Admin $217.0M $234.0M
YoY Change -7.26% 39.29%
% of Gross Profit 19.53% 21.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.00M $83.00M
YoY Change -15.66% 176.67%
% of Gross Profit 6.3% 7.76%
Operating Expenses $275.0M $305.0M
YoY Change -9.84% 54.04%
Operating Profit $818.0M $744.0M
YoY Change 9.95% 91.26%
Interest Expense $85.00M $73.00M
YoY Change 16.44% 28.07%
% of Operating Profit 10.39% 9.81%
Other Income/Expense, Net $114.0M $25.00M
YoY Change 356.0%
Pretax Income $874.0M $716.0M
YoY Change 22.07% 108.14%
Income Tax $207.0M $227.0M
% Of Pretax Income 23.68% 31.7%
Net Earnings $667.0M $489.0M
YoY Change 36.4% 97.98%
Net Earnings / Revenue 12.33% 9.38%
Basic Earnings Per Share $1.89 $1.29
Diluted Earnings Per Share $1.87 $1.28
COMMON SHARES
Basic Shares Outstanding 353.4M shares 378.5M shares
Diluted Shares Outstanding 357.3M shares 383.0M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $366.0M $498.0M
YoY Change -26.51% -26.66%
Cash & Equivalents $366.0M $498.0M
Short-Term Investments
Other Short-Term Assets $277.0M $528.0M
YoY Change -47.54% 1930.77%
Inventory
Prepaid Expenses
Receivables $2.174B $1.804B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.817B $2.830B
YoY Change -0.46% 44.46%
LONG-TERM ASSETS
Property, Plant & Equipment $1.958B $2.102B
YoY Change -6.85% 99.05%
Goodwill $9.103B $8.582B
YoY Change 6.07% 806.23%
Intangibles
YoY Change
Long-Term Investments $638.0M $762.0M
YoY Change -16.27% 325.7%
Other Assets $596.0M $442.0M
YoY Change 34.84% 98.21%
Total Long-Term Assets $21.03B $21.05B
YoY Change -0.11% 348.75%
TOTAL ASSETS
Total Short-Term Assets $2.817B $2.830B
Total Long-Term Assets $21.03B $21.05B
Total Assets $23.84B $23.88B
YoY Change -0.15% 259.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $834.0M $650.0M
YoY Change 28.31% 4.67%
Accrued Expenses $2.277B $2.363B
YoY Change -3.64% 77.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $616.0M $402.0M
YoY Change 53.23% 32.67%
Total Short-Term Liabilities $5.904B $5.363B
YoY Change 10.09% 65.32%
LONG-TERM LIABILITIES
Long-Term Debt $8.375B $7.911B
YoY Change 5.87% 95.0%
Other Long-Term Liabilities $2.198B $1.911B
YoY Change 15.02% 75.16%
Total Long-Term Liabilities $2.198B $1.911B
YoY Change 15.02% 75.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.904B $5.363B
Total Long-Term Liabilities $2.198B $1.911B
Total Liabilities $8.102B $7.274B
YoY Change 11.38% 67.8%
SHAREHOLDERS EQUITY
Retained Earnings $8.363B $7.040B
YoY Change 18.79% 35.78%
Common Stock $5.733B $5.717B
YoY Change 0.28% 104.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.01B $7.700B
YoY Change 43.0% -31.65%
Treasury Stock Shares
Shareholders Equity $2.920B $4.901B
YoY Change
Total Liabilities & Shareholders Equity $23.84B $23.88B
YoY Change -0.15% 259.11%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $667.0M $489.0M
YoY Change 36.4% 97.98%
Depreciation, Depletion And Amortization $70.00M $83.00M
YoY Change -15.66% 176.67%
Cash From Operating Activities $454.0M $724.0M
YoY Change -37.29% 54.7%
INVESTING ACTIVITIES
Capital Expenditures -$324.0M -$56.00M
YoY Change 478.57% 55.56%
Acquisitions
YoY Change
Other Investing Activities $389.0M $136.0M
YoY Change 186.03% 385.71%
Cash From Investing Activities $65.00M $80.00M
YoY Change -18.75% -1100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -859.0M -1.058B
YoY Change -18.81% -981.67%
NET CHANGE
Cash From Operating Activities 454.0M 724.0M
Cash From Investing Activities 65.00M 80.00M
Cash From Financing Activities -859.0M -1.058B
Net Change In Cash -340.0M -254.0M
YoY Change 33.86% -143.79%
FREE CASH FLOW
Cash From Operating Activities $454.0M $724.0M
Capital Expenditures -$324.0M -$56.00M
Free Cash Flow $778.0M $780.0M
YoY Change -0.26% 54.76%

Facts In Submission

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us-gaap Operating Income Loss
OperatingIncomeLoss
1240000000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
593000000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
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596000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-1000000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-2000000 USD
CY2018Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2017Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2018Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2017Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
162000000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
350000000 USD
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-399000000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-247000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
156000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
341000000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-385000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-223000000 USD
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-6000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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-8000000 USD
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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11000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
8000000 USD
CY2017Q4 us-gaap Other Liabilities Current
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CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1101000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2610000000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2198000000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
25000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
25000000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
114000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
173000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
78000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
49000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
17000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-50000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1328000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1673000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
240000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
262000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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135000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
101000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
104000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
388000000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
235000000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
264000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
443000000 USD
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
10000000 USD
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
29000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
482000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
436000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1793000000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-16000000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1958000000 USD
CY2017Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1000000 USD
CY2018Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-3000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-16000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
301000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
387000000 USD
CY2017Q4 us-gaap Restricted Cash
RestrictedCash
46000000 USD
CY2018Q2 us-gaap Restricted Cash
RestrictedCash
37000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
7242000000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
8363000000 USD
CY2017Q2 us-gaap Revenues
Revenues
5211000000 USD
us-gaap Revenues
Revenues
10123000000 USD
CY2018Q2 us-gaap Revenues
Revenues
5346000000 USD
us-gaap Revenues
Revenues
10352000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
95000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
93000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3731000000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
2841000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
3582000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
2841000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
11800000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
9418000000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11011000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1632000000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
383000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
386500000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
357300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
360300000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
378500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
381700000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
353400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
355900000 shares

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