2017 Q4 Form 10-K Financial Statement

#000155837019000470 Filed on February 07, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $7.990B $8.172B $7.810B
YoY Change 9.02% 6.01% 1.93%
Cost Of Revenue $4.094B $4.059B $4.020B
YoY Change 9.58% 4.97% 5.32%
Gross Profit $3.896B $4.113B $3.790B
YoY Change 8.43% 7.05% -1.43%
Gross Profit Margin 48.76% 50.33% 48.53%
Selling, General & Admin $1.755B $1.637B $1.620B
YoY Change 1.62% 6.92% 3.85%
% of Gross Profit 45.05% 39.8% 42.74%
Research & Development $448.0M $468.0M $470.0M
YoY Change -0.44% 9.6% 7.55%
% of Gross Profit 11.5% 11.38% 12.4%
Depreciation & Amortization $349.0M $377.0M $380.0M
YoY Change -9.11% 2.45% 3.83%
% of Gross Profit 8.96% 9.17% 10.03%
Operating Expenses $2.203B $1.637B $1.620B
YoY Change 1.19% 6.92% 3.85%
Operating Profit $1.693B $2.008B $2.153B
YoY Change 19.56% 5.46% 15.38%
Interest Expense -$244.0M $57.00M $54.00M
YoY Change 313.56% -235.71% -292.86%
% of Operating Profit -14.41% 2.84% 2.51%
Other Income/Expense, Net $32.00M -$11.00M -$11.00M
YoY Change -83.67% -73.81% -64.52%
Pretax Income $1.672B $1.997B $2.142B
YoY Change 3.85% 7.25% 16.73%
Income Tax $385.0M $564.0M $557.0M
% Of Pretax Income 23.03% 28.24% 26.0%
Net Earnings $523.0M $1.429B $1.583B
YoY Change -54.72% 7.52% 22.62%
Net Earnings / Revenue 6.55% 17.49% 20.27%
Basic Earnings Per Share $0.88 $2.39 $2.65
Diluted Earnings Per Share $0.85 $2.33 $2.58
COMMON SHARES
Basic Shares Outstanding 597.6M 598.1M
Diluted Shares Outstanding 612.7M 612.8M

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.156B $3.417B $2.794B
YoY Change 55.19% 28.17% 49.81%
Cash & Equivalents $3.053B $2.831B $2.654B
Short-Term Investments $1.103B $586.0M $140.0M
Other Short-Term Assets $266.0M $1.108B $1.090B
YoY Change -40.89% -4.4% -15.57%
Inventory $4.034B $3.975B $3.838B
Prepaid Expenses $937.0M
Receivables $4.911B $5.156B $4.919B
Other Receivables $71.00M $0.00 $0.00
Total Short-Term Assets $14.28B $13.66B $12.64B
YoY Change 21.76% 12.13% 10.54%
LONG-TERM ASSETS
Property, Plant & Equipment $8.866B $8.658B $8.566B
YoY Change 4.11% -0.15% -0.44%
Goodwill $10.51B $9.221B $9.105B
YoY Change 14.7% -2.22% -2.68%
Intangibles $2.936B $2.175B $2.201B
YoY Change 26.55% -10.2% -11.14%
Long-Term Investments $70.00M $156.0M $154.0M
YoY Change 16.67% 10.64% 14.07%
Other Assets $1.395B $1.266B $1.207B
YoY Change 18.42% 32.98% 22.54%
Total Long-Term Assets $23.71B $21.58B $21.32B
YoY Change 11.95% -1.33% -2.22%
TOTAL ASSETS
Total Short-Term Assets $14.28B $13.66B $12.64B
Total Long-Term Assets $23.71B $21.58B $21.32B
Total Assets $37.99B $35.24B $33.96B
YoY Change 15.44% 3.48% 2.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.945B $1.824B $1.782B
YoY Change 8.18% 12.52% 8.0%
Accrued Expenses $870.0M $856.0M $666.0M
YoY Change -44.48% 17.42% 14.83%
Deferred Revenue $513.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.853B $835.0M $213.0M
YoY Change 90.64% -34.87% -91.31%
Total Short-Term Liabilities $7.687B $6.598B $5.697B
YoY Change 23.61% 3.09% -21.46%
LONG-TERM LIABILITIES
Long-Term Debt $12.10B $10.83B $11.09B
YoY Change 13.28% -2.27% 19.24%
Other Long-Term Liabilities $2.962B $1.861B $1.767B
YoY Change 79.73% 38.36% 33.16%
Total Long-Term Liabilities $15.06B $12.69B $12.86B
YoY Change 22.16% 2.13% 20.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.687B $6.598B $5.697B
Total Long-Term Liabilities $15.06B $12.69B $12.86B
Total Liabilities $26.37B $23.04B $22.31B
YoY Change 16.85% 4.69% 4.77%
SHAREHOLDERS EQUITY
Retained Earnings $39.12B $39.45B $38.79B
YoY Change 3.19% 4.53% 4.3%
Common Stock $5.361B $5.311B $5.253B
YoY Change 5.74% 5.78% 5.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.56B $12.15B $11.59B
YoY Change
Total Liabilities & Shareholders Equity $37.99B $35.24B $33.96B
YoY Change 15.44% 3.48% 2.17%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $523.0M $1.429B $1.583B
YoY Change -54.72% 7.52% 22.62%
Depreciation, Depletion And Amortization $349.0M $377.0M $380.0M
YoY Change -9.11% 2.45% 3.83%
Cash From Operating Activities $1.860B $1.750B $1.642B
YoY Change -15.8% -8.28% 27.78%
INVESTING ACTIVITIES
Capital Expenditures -$459.0M -$325.0M -$302.0M
YoY Change 5.28% -6.34% -6.5%
Acquisitions
YoY Change
Other Investing Activities -$2.273B -$456.0M $819.0M
YoY Change -1203.4% 132.65% -3133.33%
Cash From Investing Activities -$2.732B -$781.0M $517.0M
YoY Change 1087.83% 43.83% -247.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.044B -843.0M -1.705B
YoY Change -156.55% 12.1% 183.22%
NET CHANGE
Cash From Operating Activities 1.860B 1.750B 1.642B
Cash From Investing Activities -2.732B -781.0M 517.0M
Cash From Financing Activities 1.044B -843.0M -1.705B
Net Change In Cash 172.0M 126.0M 454.0M
YoY Change 29.32% -79.45% 36.34%
FREE CASH FLOW
Cash From Operating Activities $1.860B $1.750B $1.642B
Capital Expenditures -$459.0M -$325.0M -$302.0M
Free Cash Flow $2.319B $2.075B $1.944B
YoY Change -12.33% -7.98% 20.9%

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CY2017Q4 us-gaap Standard Product Warranty Accrual
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CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
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CY2017Q4 us-gaap Stockholders Equity
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2016 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
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CY2017 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
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CY2018 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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CY2015Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2016Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2016Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
347306778
CY2017Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2017Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
349148819
CY2018Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2017Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
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CY2018Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
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CY2016 us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
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CY2017 us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
TreasuryStockReissuedAtLowerThanRepurchasePrice
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CY2018 us-gaap Treasury Stock Reissued At Lower Than Repurchase Price
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CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
22602748
CY2017 us-gaap Treasury Stock Shares Acquired
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10209963
CY2018 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
23526293
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3699000000
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2044000000
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4888000000
CY2018Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
12000000000
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
381000000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
319000000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
319000000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
530000000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
530000000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
647000000
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
66000000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
38000000
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
123000000
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
95000000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
3000000
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
17000000
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
68000000
CY2018Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
69000000
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
10000000
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
20000000
CY2018 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
12000000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
67000000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
119000000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
129000000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
43000000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
149000000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
146000000
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
11000000
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
16000000
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
18000000
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
333000000
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
526000000
CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
655000000
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div> <div> <p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;"> <font style="display:inline;font-style:italic;">Use of estimates:</font><font style="display:inline;"> The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</font> </p><div /></div> </div>
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
618700000
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
618700000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
612700000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
612700000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
602000000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
602000000
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
604700000
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
604700000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
597500000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
597500000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
588500000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
588500000

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