2018 Q4 Form 10-Q Financial Statement

#000162828018013710 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $5.289B $5.051B $5.078B
YoY Change 0.72% -0.53% 28.82%
Cost Of Revenue $4.406B $4.170B $4.001B
YoY Change -0.88% 4.22% 19.58%
Gross Profit $951.0M $881.0M $1.077B
YoY Change 17.99% -18.2% 80.7%
Gross Profit Margin 17.98% 17.44% 21.21%
Selling, General & Admin $242.0M $221.0M $205.0M
YoY Change -10.37% 7.8% 27.33%
% of Gross Profit 25.45% 25.09% 19.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $76.00M $65.00M $65.00M
YoY Change 10.14% 0.0% 80.56%
% of Gross Profit 7.99% 7.38% 6.04%
Operating Expenses $304.0M $273.0M $259.0M
YoY Change -5.88% 5.41% 31.47%
Operating Profit $422.0M $596.0M $790.0M
YoY Change -0.47% -24.56% 361.99%
Interest Expense -$77.00M $86.00M $73.00M
YoY Change -112.62% 17.81% 32.73%
% of Operating Profit -18.25% 14.43% 9.24%
Other Income/Expense, Net $18.00M $6.000M
YoY Change 200.0% 100.0%
Pretax Income $479.0M $594.0M $738.0M
YoY Change -53.68% -19.51% 463.36%
Income Tax $126.0M $91.00M $253.0M
% Of Pretax Income 26.3% 15.32% 34.28%
Net Earnings $317.0M $503.0M $485.0M
YoY Change 178.07% 3.71% 592.86%
Net Earnings / Revenue 5.99% 9.96% 9.55%
Basic Earnings Per Share $0.93 $1.45 $1.30
Diluted Earnings Per Share $0.92 $1.43 $1.29
COMMON SHARES
Basic Shares Outstanding 341.1M shares 346.7M shares 372.3M shares
Diluted Shares Outstanding 350.6M shares 376.6M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $316.0M $373.0M $508.0M
YoY Change -17.49% -26.57% -52.88%
Cash & Equivalents $316.0M $373.0M $508.0M
Short-Term Investments
Other Short-Term Assets $257.0M $255.0M $522.0M
YoY Change -33.07% -51.15% 703.08%
Inventory
Prepaid Expenses
Receivables $2.133B $2.175B $1.914B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.706B $2.803B $2.944B
YoY Change -1.24% -4.79% -22.26%
LONG-TERM ASSETS
Property, Plant & Equipment $1.956B $1.967B $1.894B
YoY Change 9.09% 3.85% -21.44%
Goodwill $9.039B $9.067B $9.182B
YoY Change -1.82% -1.25% 27.97%
Intangibles $8.380B
YoY Change -1.92%
Long-Term Investments $732.0M $689.0M $720.0M
YoY Change -0.27% -4.31% -13.25%
Other Assets $587.0M $611.0M $400.0M
YoY Change -1.01% 52.75% -4.53%
Total Long-Term Assets $20.99B $21.03B $21.29B
YoY Change -0.55% -1.23% 0.36%
TOTAL ASSETS
Total Short-Term Assets $2.706B $2.803B $2.944B
Total Long-Term Assets $20.99B $21.03B $21.29B
Total Assets $23.70B $23.83B $24.24B
YoY Change -0.63% -1.66% -3.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $767.0M $759.0M $733.0M
YoY Change -2.04% 3.55% 9.9%
Accrued Expenses $2.308B $2.370B $2.518B
YoY Change -7.86% -5.88% 5.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $833.0M $617.0M $398.0M
YoY Change 109.3% 55.03% 25.95%
Total Short-Term Liabilities $6.437B $6.051B $5.608B
YoY Change 10.85% 7.9% 7.25%
LONG-TERM LIABILITIES
Long-Term Debt $8.514B $8.710B $8.271B
YoY Change 8.6% 5.31% -2.76%
Other Long-Term Liabilities $2.372B $2.248B $2.094B
YoY Change -9.12% 7.35% 32.53%
Total Long-Term Liabilities $2.372B $2.248B $2.094B
YoY Change -9.12% 7.35% 32.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.437B $6.051B $5.608B
Total Long-Term Liabilities $2.372B $2.248B $2.094B
Total Liabilities $8.809B $8.299B $7.702B
YoY Change 4.66% 7.75% 13.11%
SHAREHOLDERS EQUITY
Retained Earnings $8.982B $8.705B $7.310B
YoY Change 24.03% 19.08% 14.67%
Common Stock $5.819B $5.778B $5.749B
YoY Change 0.76% 0.5% 0.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.19B $11.85B $8.498B
YoY Change 29.38% 39.44% 39.08%
Treasury Stock Shares
Shareholders Equity $2.225B $2.423B $4.512B
YoY Change
Total Liabilities & Shareholders Equity $23.70B $23.83B $24.24B
YoY Change -0.63% -1.66% -3.06%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $317.0M $503.0M $485.0M
YoY Change 178.07% 3.71% 592.86%
Depreciation, Depletion And Amortization $76.00M $65.00M $65.00M
YoY Change 10.14% 0.0% 80.56%
Cash From Operating Activities $533.0M $695.0M $565.0M
YoY Change 11.97% 23.01% 64.24%
INVESTING ACTIVITIES
Capital Expenditures -$94.00M -$74.00M -$51.00M
YoY Change 10.59% 45.1% -5.56%
Acquisitions
YoY Change
Other Investing Activities -$39.00M $41.00M $55.00M
YoY Change -104.02% -25.45% -102.33%
Cash From Investing Activities -$133.0M -$33.00M $4.000M
YoY Change -115.05% -925.0% -100.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -453.0M -652.0M -550.0M
YoY Change -69.08% 18.55% -122.27%
NET CHANGE
Cash From Operating Activities 533.0M 695.0M 565.0M
Cash From Investing Activities -133.0M -33.00M 4.000M
Cash From Financing Activities -453.0M -652.0M -550.0M
Net Change In Cash -53.00M 10.00M 19.00M
YoY Change -49.52% -47.37% -95.24%
FREE CASH FLOW
Cash From Operating Activities $533.0M $695.0M $565.0M
Capital Expenditures -$94.00M -$74.00M -$51.00M
Free Cash Flow $627.0M $769.0M $616.0M
YoY Change 11.76% 24.84% 54.77%

Facts In Submission

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398000000 USD
CY2018Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
617000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
327000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
81000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1751000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1824000000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
485000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1345000000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
483000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1491000000 USD
us-gaap Noncash Merger Related Costs
NoncashMergerRelatedCosts
-117000000 USD
us-gaap Noncash Merger Related Costs
NoncashMergerRelatedCosts
-37000000 USD
CY2017Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
142000000 USD
CY2018Q3 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
122000000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
443000000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-306000000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
790000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
2080000000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
570000000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1810000000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
593000000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
611000000 USD
CY2017Q3 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
-1000000 USD
CY2018Q3 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
CY2017Q3 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
CY2018Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
107000000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
457000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-66000000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-313000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
107000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
448000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-65000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-288000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-5000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-13000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
7000000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1291000000 USD
CY2018Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1117000000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2610000000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2248000000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
31000000 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
18000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
191000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
108000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
67000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
6000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-49000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2105000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2513000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
362000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
404000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
144000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
105000000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
155000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
462000000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
235000000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
242000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000 USD
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
47000000 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
460000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
443000000 USD
us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
91000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1793000000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1967000000 USD
CY2017Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-4000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-5000000 USD
CY2018Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-18000000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-5000000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-18000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
305000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
391000000 USD
CY2017Q4 us-gaap Restricted Cash
RestrictedCash
46000000 USD
CY2018Q3 us-gaap Restricted Cash
RestrictedCash
40000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
7242000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
8705000000 USD
CY2017Q3 us-gaap Revenues
Revenues
5078000000 USD
us-gaap Revenues
Revenues
15201000000 USD
CY2018Q3 us-gaap Revenues
Revenues
5049000000 USD
us-gaap Revenues
Revenues
15401000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
139000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
140000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
44000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3731000000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
2324000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
3582000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
2324000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
18500000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
9418000000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
11850000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2473000000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
376600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
383200000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
350600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
357100000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
372300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
378500000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
346700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
352800000 shares

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