2016 Q4 Form 10-K Financial Statement

#000119312518037332 Filed on February 09, 2018

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2016 Q2
Revenue $6.770B $6.396B $6.302B
YoY Change -8.07% -6.61% -17.74%
Cost Of Revenue $4.181B $3.908B $3.786B
YoY Change -7.68% -6.48% -17.61%
Gross Profit $2.589B $2.488B $2.516B
YoY Change -8.68% -6.82% -17.94%
Gross Profit Margin 38.24% 38.9% 39.92%
Selling, General & Admin $1.382B $1.552B $1.668B
YoY Change -27.15% -13.3% -14.94%
% of Gross Profit 53.38% 62.38% 66.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $208.0M $207.0M $201.0M
YoY Change -9.96% 0.49% -10.67%
% of Gross Profit 8.03% 8.32% 7.99%
Operating Expenses $1.426B $1.552B $1.668B
YoY Change -26.53% -13.3% -14.94%
Operating Profit $1.163B $702.0M $638.0M
YoY Change 30.09% -91.0% -24.14%
Interest Expense -$111.0M -$125.0M -$127.0M
YoY Change -44.5% 14.68% -60.19%
% of Operating Profit -9.54% -17.81% -19.91%
Other Income/Expense, Net -$33.00M -$145.0M -$151.0M
YoY Change 27.19% -51.91%
Pretax Income -$68.00M $557.0M $487.0M
YoY Change -91.01% -92.75% -7.59%
Income Tax $78.00M -$40.00M -$118.0M
% Of Pretax Income -7.18% -24.23%
Net Earnings $93.00M $548.0M $464.0M
YoY Change -112.76% -92.46% 14.29%
Net Earnings / Revenue 1.37% 8.57% 7.36%
Basic Earnings Per Share $0.06 $0.35 $0.30
Diluted Earnings Per Share $0.06 $0.35 $0.29
COMMON SHARES
Basic Shares Outstanding 1.540B shares 1.557B shares 1.557B shares
Diluted Shares Outstanding 1.559B shares 1.576B shares 1.576B shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.741B $1.686B $1.755B
YoY Change -6.9% -17.31% -10.37%
Cash & Equivalents $1.741B $1.686B $1.755B
Short-Term Investments
Other Short-Term Assets $800.0M $479.0M $592.0M
YoY Change 26.38% -24.92% -9.34%
Inventory $2.469B $2.776B $2.713B
Prepaid Expenses
Receivables $2.611B $3.019B $2.796B
Other Receivables $859.0M $895.0M $1.123B
Total Short-Term Assets $8.480B $8.855B $8.979B
YoY Change -5.34% -27.26% -24.47%
LONG-TERM ASSETS
Property, Plant & Equipment $8.229B $8.465B $8.425B
YoY Change -1.59% -1.16% -3.47%
Goodwill $20.28B $20.75B $20.74B
YoY Change -1.88% -1.01% -1.49%
Intangibles $18.10B $18.72B $18.78B
YoY Change -3.55% -2.06% -4.55%
Long-Term Investments $5.585B $5.717B $5.618B
YoY Change 3.68% 16.79%
Other Assets $350.0M $384.0M $385.0M
YoY Change -2.23% -39.72% -69.95%
Total Long-Term Assets $53.03B $54.41B $54.29B
YoY Change -1.59% 0.36% 2.0%
TOTAL ASSETS
Total Short-Term Assets $8.480B $8.855B $8.979B
Total Long-Term Assets $53.03B $54.41B $54.29B
Total Assets $61.51B $63.27B $63.27B
YoY Change -2.13% -4.71% -2.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.318B $4.884B $4.562B
YoY Change 8.75% 0.18% 1.4%
Accrued Expenses $2.481B $2.403B $2.187B
YoY Change 0.12% -3.69% -5.0%
Deferred Revenue
YoY Change
Short-Term Debt $2.531B $2.490B $2.691B
YoY Change 972.46% 58.5% -39.97%
Long-Term Debt Due $1.451B $1.511B $1.011B
YoY Change 139.83% -14.1% -42.69%
Total Short-Term Liabilities $14.42B $13.96B $13.00B
YoY Change 32.0% 2.35% -22.59%
LONG-TERM LIABILITIES
Long-Term Debt $13.22B $13.11B $13.58B
YoY Change -9.21% 0.58% 3.73%
Other Long-Term Liabilities $1.572B $1.709B $2.008B
YoY Change -14.19% -12.9% -6.99%
Total Long-Term Liabilities $1.572B $1.709B $2.008B
YoY Change -14.19% -12.9% -6.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.42B $13.96B $13.00B
Total Long-Term Liabilities $1.572B $1.709B $2.008B
Total Liabilities $36.32B $35.69B $35.60B
YoY Change 4.55% -2.06% -11.86%
SHAREHOLDERS EQUITY
Retained Earnings $21.15B $21.37B $21.13B
YoY Change 2.17% -1.57% 43.48%
Common Stock $31.85B $31.81B $31.77B
YoY Change 0.27% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.71B $15.96B $15.54B
YoY Change 15.56% 14.37% 18.81%
Treasury Stock Shares 468.2M shares 450.9M shares 441.5M shares
Shareholders Equity $25.16B $27.51B $27.59B
YoY Change
Total Liabilities & Shareholders Equity $61.54B $63.27B $63.27B
YoY Change -2.08% -4.71% -2.84%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income $93.00M $548.0M $464.0M
YoY Change -112.76% -92.46% 14.29%
Depreciation, Depletion And Amortization $208.0M $207.0M $201.0M
YoY Change -9.96% 0.49% -10.67%
Cash From Operating Activities $1.700B $801.0M $791.0M
YoY Change -26.6% -4.76% -7.27%
INVESTING ACTIVITIES
Capital Expenditures -$315.0M -$305.0M -$269.0M
YoY Change -6.25% -21.39% -22.92%
Acquisitions
YoY Change
Other Investing Activities -$193.0M $289.0M $80.00M
YoY Change -59.37% -91.15% -84.47%
Cash From Investing Activities -$508.0M -$16.00M -$189.0M
YoY Change -37.36% -100.56% -213.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.032B -858.0M -179.0M
YoY Change -36.02% -78.4% -62.86%
NET CHANGE
Cash From Operating Activities 1.700B 801.0M 791.0M
Cash From Investing Activities -508.0M -16.00M -189.0M
Cash From Financing Activities -1.032B -858.0M -179.0M
Net Change In Cash 160.0M -73.00M 423.0M
YoY Change -248.15% -71.37% -21.23%
FREE CASH FLOW
Cash From Operating Activities $1.700B $801.0M $791.0M
Capital Expenditures -$315.0M -$305.0M -$269.0M
Free Cash Flow $2.015B $1.106B $1.060B
YoY Change -24.02% -10.01% -11.81%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 10pt"> <i>Accounting Calendar Change:</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: ARIAL; MARGIN-TOP: 0pt"> In connection with moving toward a common consolidation date across the Company, in the first quarter of 2015, we changed the consolidation date for our North America segment from the last Saturday of each period to the last calendar day of each period. The change had a favorable impact of $76&#xA0;million on net revenues and $36&#xA0;million on operating income in 2015. As a result of this change, each of our operating subsidiaries now reports results as of the last calendar day of the period.</p> </div>
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