2012 Q4 Form 8-K Financial Statement

#000119312513207373 Filed on May 08, 2013

View on sec.gov

Income Statement

Concept 2012 Q4 2012 2011 Q4
Revenue $1.831B $7.495B $1.657B
YoY Change 10.5% 4.53% 1.72%
Cost Of Revenue $1.380B $5.539B $1.406B
YoY Change -1.85% 2.9% 5.87%
Gross Profit $451.0M $1.956B $342.0M
YoY Change 31.87% 9.46% 13.62%
Gross Profit Margin 24.63% 26.1% 20.64%
Selling, General & Admin $375.0M $1.535B $366.0M
YoY Change 2.46% -0.52% 0.27%
% of Gross Profit 83.15% 78.48% 107.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $214.0M $214.0M $263.0M
YoY Change -18.63% -18.63% -5.73%
% of Gross Profit 47.45% 10.94% 76.9%
Operating Expenses $375.0M $1.535B $366.0M
YoY Change 2.46% -0.52% 0.27%
Operating Profit $76.00M $302.0M -$24.00M
YoY Change -416.67% -240.47% -62.5%
Interest Expense -$57.00M $254.0M -$62.00M
YoY Change -8.06% 0.0% 14.81%
% of Operating Profit -75.0% 84.11%
Other Income/Expense, Net -$53.00M -$229.0M
YoY Change 36.31%
Pretax Income -$22.00M $73.00M -$593.0M
YoY Change -96.29% -119.06% -27.42%
Income Tax $37.00M $91.00M -$104.0M
% Of Pretax Income 124.66%
Net Earnings -$87.00M -$114.0M -$573.0M
YoY Change -84.82% -80.17% -44.58%
Net Earnings / Revenue -4.75% -1.52% -34.58%
Basic Earnings Per Share -$0.25 -$0.33 -$1.65
Diluted Earnings Per Share -$0.25 -$0.33 -$1.65
COMMON SHARES
Basic Shares Outstanding 357.1M shares 349.0M shares
Diluted Shares Outstanding 349.0M shares

Balance Sheet

Concept 2012 Q4 2012 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.351B $1.351B $1.656B
YoY Change -18.42% -18.42% -3.44%
Cash & Equivalents $1.040B $1.353B
Short-Term Investments $311.0M $311.0M
Other Short-Term Assets $207.0M $207.0M $90.00M
YoY Change 130.0% 130.0% -30.23%
Inventory $726.0M $726.0M $706.0M
Prepaid Expenses
Receivables $71.00M $933.0M $59.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.217B $3.217B $3.429B
YoY Change -6.18% -6.18% -1.01%
LONG-TERM ASSETS
Property, Plant & Equipment $1.326B $1.326B $1.454B
YoY Change -8.8% -19.29% -16.29%
Goodwill $1.894B $1.891B
YoY Change 0.16% -19.22%
Intangibles $151.0M $196.0M
YoY Change -22.96%
Long-Term Investments $95.00M
YoY Change -15.18%
Other Assets $192.0M $190.0M $209.0M
YoY Change -8.13% 88.12% -27.18%
Total Long-Term Assets $3.666B $3.658B $3.868B
YoY Change -5.22% -5.43% -17.28%
TOTAL ASSETS
Total Short-Term Assets $3.217B $3.217B $3.429B
Total Long-Term Assets $3.666B $3.658B $3.868B
Total Assets $6.883B $6.875B $7.297B
YoY Change -5.67% -5.78% -10.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $788.0M $788.0M $727.0M
YoY Change 8.39% 2.34% 20.76%
Accrued Expenses $823.0M $763.0M $766.0M
YoY Change 7.44% 1.06% -6.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $206.0M $206.0M $803.0M
YoY Change -74.35% -74.35% 1116.67%
Total Short-Term Liabilities $1.862B $1.862B $2.363B
YoY Change -21.2% -21.2% 58.91%
LONG-TERM LIABILITIES
Long-Term Debt $3.422B $3.422B $3.222B
YoY Change 6.21% 6.21% -20.09%
Other Long-Term Liabilities $4.000M $4.000M
YoY Change
Total Long-Term Liabilities $3.422B $3.426B $3.222B
YoY Change 6.21% 6.33% -20.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.862B $1.862B $2.363B
Total Long-Term Liabilities $3.422B $3.426B $3.222B
Total Liabilities $6.341B $6.553B $6.555B
YoY Change -3.26% -3.21% -2.98%
SHAREHOLDERS EQUITY
Retained Earnings -$102.0M $38.00M
YoY Change -368.42%
Common Stock $365.0M $413.0M
YoY Change -11.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $322.0M $322.0M $527.0M
YoY Change
Total Liabilities & Shareholders Equity $6.875B $6.875B $7.297B
YoY Change -5.78% -5.78% -10.36%

Cashflow Statement

Concept 2012 Q4 2012 2011 Q4
OPERATING ACTIVITIES
Net Income -$87.00M -$114.0M -$573.0M
YoY Change -84.82% -80.17% -44.58%
Depreciation, Depletion And Amortization $214.0M $214.0M $263.0M
YoY Change -18.63% -18.63% -5.73%
Cash From Operating Activities $191.0M $281.0M $144.0M
YoY Change 32.64% 17.57% -37.12%
INVESTING ACTIVITIES
Capital Expenditures -$39.00M $117.0M -$45.00M
YoY Change -13.33% -15.83% -8.16%
Acquisitions
YoY Change
Other Investing Activities $27.00M $24.00M -$7.000M
YoY Change -485.71% 33.33% -125.93%
Cash From Investing Activities -$12.00M -$29.00M -$52.00M
YoY Change -76.92% -65.48% 136.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $8.000M
YoY Change -73.33%
Debt Paid & Issued, Net $5.000M
YoY Change -44.44%
Cash From Financing Activities -28.00M -$576.0M -29.00M
YoY Change -3.45% 163.01% 20.83%
NET CHANGE
Cash From Operating Activities 191.0M $281.0M 144.0M
Cash From Investing Activities -12.00M -$29.00M -52.00M
Cash From Financing Activities -28.00M -$576.0M -29.00M
Net Change In Cash 151.0M -$324.0M 63.00M
YoY Change 139.68% 406.25% -65.57%
FREE CASH FLOW
Cash From Operating Activities $191.0M $281.0M $144.0M
Capital Expenditures -$39.00M $117.0M -$45.00M
Free Cash Flow $230.0M $164.0M $189.0M
YoY Change 21.69% 64.0% -32.01%

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CY2012 dei Document Fiscal Period Focus
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CY2012 dei Entity Voluntary Filers
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CY2012 dei Document Fiscal Year Focus
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CY2012 dei Document Type
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CY2012 dei Trading Symbol
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CY2012 dei Amendment Flag
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CY2012 mas Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Periods
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CY2012 mas Shares Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2012 mas Forecasted Debt Issuance Variable Rate Period
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11 to 13 percent
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CY2012 mas Either Rate Per Annum Equal To Lower Of Prime Rate Federal Funds Effective Libor Plus One Percent Plus Applicable Margin
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0.010 pure
CY2012 mas Either Rate Per Annum Equal To Lower Of Prime Rate Federal Funds Effective Rate Plus Half Percent Plus Applicable Margin
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CY2012 mas Export Sale From Domestic Country
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
18
CY2012 us-gaap Multiemployer Plans Plan Benefits Description
MultiemployerPlansPlanBenefitsDescription
The Company participates in 20 regional multi-employer pension plans, principally related to building trades; none of the plans are considered significant.
CY2012 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1000000 shares
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P5Y
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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5000000
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42000000
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0.03 pure
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50000000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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0.02 pure
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LeaseAndRentalExpense
94000000
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InterestExpense
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CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0257 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.04 pure
CY2012 mas Severance And Retirement Costs
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4.44
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214000000
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AssumedAnnualGrowthRateOfCashFlows
1 to 3 percent
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DiscountRateOnEstimatedDiscountedCashFlows
0.095 pure
CY2012 mas Deferred Tax Assets Other Assets Including Stock Based Compensation
DeferredTaxAssetsOtherAssetsIncludingStockBasedCompensation
118000000
CY2012 mas Net Operating Loss And Tax Credit Carry Forwards With Limited Expiration Period Expiration Date
NetOperatingLossAndTaxCreditCarryForwardsWithLimitedExpirationPeriodExpirationDate
Between 2020 and 2032
CY2012 mas Income From Other Investments
IncomeFromOtherInvestments
24000000
CY2012 mas Number Of Venture Capital Fund
NumberOfVentureCapitalFund
15 Venture
CY2012 mas Minimum Interest Coverage Ratio1
MinimumInterestCoverageRatio1
2.25 to 1.00
CY2011Q1 us-gaap Gross Profit
GrossProfit
421000000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
8000000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2011Q2 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
3000000
CY2011Q2 mas Impairment Of Financial Investment Net Of Tax
ImpairmentOfFinancialInvestmentNetOfTax
21000000
CY2012Q1 us-gaap Impairment Of Investments
ImpairmentOfInvestments
16000000
CY2012Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
42000000
CY2012Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.12
CY2012Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.12
CY2012Q1 mas Impairment Of Financial Investment Net Of Tax
ImpairmentOfFinancialInvestmentNetOfTax
10000000
CY2012Q1 mas Litigation Settlement Income Loss Before Tax
LitigationSettlementIncomeLossBeforeTax
-2000000
CY2012Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-51000000

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