2015 Q4 Form 10-Q Financial Statement

#000151029515000050 Filed on November 02, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $15.61B $18.72B $25.44B
YoY Change -29.86% -26.43% -3.12%
Cost Of Revenue $14.21B $16.35B $23.81B
YoY Change -31.48% -31.33% -5.19%
Gross Profit $1.469B $2.402B $1.665B
YoY Change -8.07% 44.26% 44.03%
Gross Profit Margin 9.41% 12.83% 6.55%
Selling, General & Admin $528.0M $392.0M $342.0M
YoY Change 11.63% 14.62% 12.13%
% of Gross Profit 35.94% 16.32% 20.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $269.0M $364.0M $322.0M
YoY Change -25.07% 13.04% 7.69%
% of Gross Profit 18.31% 15.15% 19.34%
Operating Expenses $941.0M $392.0M $342.0M
YoY Change 13.1% 14.62% 12.13%
Operating Profit $338.0M $1.549B $1.062B
YoY Change -73.15% 45.86% 252.82%
Interest Expense $85.00M $76.00M $95.00M
YoY Change -79.76% -20.0% -143.78%
% of Operating Profit 25.15% 4.91% 8.95%
Other Income/Expense, Net -$4.000M -$6.000M -$50.00M
YoY Change -33.33% -88.0% 6.38%
Pretax Income $235.0M $1.479B $1.012B
YoY Change -80.2% 46.15% 298.43%
Income Tax $67.00M $521.0M $333.0M
% Of Pretax Income 28.51% 35.23% 32.91%
Net Earnings $187.0M $948.0M $672.0M
YoY Change -76.57% 41.07% 300.0%
Net Earnings / Revenue 1.2% 5.07% 2.64%
Basic Earnings Per Share $0.35 $1.77 $1.19
Diluted Earnings Per Share $0.35 $1.76 $1.18
COMMON SHARES
Basic Shares Outstanding 533.0M shares 535.0M shares 565.0M shares
Diluted Shares Outstanding 538.0M shares 569.0M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.127B $2.044B $1.854B
YoY Change -24.56% 10.25% -8.13%
Cash & Equivalents $1.127B $2.044B $1.854B
Short-Term Investments
Other Short-Term Assets $192.0M $137.0M $154.0M
YoY Change 32.41% -11.04% -25.24%
Inventory $5.225B $5.556B $5.608B
Prepaid Expenses
Receivables $2.927B $3.124B $5.271B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.471B $10.86B $12.89B
YoY Change -16.47% -15.72% -4.76%
LONG-TERM ASSETS
Property, Plant & Equipment $25.16B $16.29B $16.00B
YoY Change 54.75% 1.84% 15.98%
Goodwill $4.019B $1.565B $1.537B
YoY Change 156.64% 1.82% 63.86%
Intangibles $719.0M
YoY Change 150.52%
Long-Term Investments $3.622B $1.073B $862.0M
YoY Change 318.73% 24.48% 106.71%
Other Assets $839.0M $368.0M $420.0M
YoY Change 112.94% -12.38% 30.43%
Total Long-Term Assets $33.64B $19.30B $18.82B
YoY Change 76.28% 2.56% 21.63%
TOTAL ASSETS
Total Short-Term Assets $9.471B $10.86B $12.89B
Total Long-Term Assets $33.64B $19.30B $18.82B
Total Assets $43.12B $30.16B $31.71B
YoY Change 41.71% -4.87% 9.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.743B $4.993B $8.726B
YoY Change -28.79% -42.78% -2.62%
Accrued Expenses $963.0M $759.0M $710.0M
YoY Change 8.2% 6.9% 14.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $29.00M $780.0M $26.00M
YoY Change 7.41% 2900.0% 13.04%
Total Short-Term Liabilities $6.345B $7.686B $10.37B
YoY Change -26.04% -25.9% -0.28%
LONG-TERM LIABILITIES
Long-Term Debt $11.90B $5.912B $6.238B
YoY Change 80.93% -5.23% 84.56%
Other Long-Term Liabilities $1.914B $1.696B $1.664B
YoY Change 2.52% 1.92% -3.82%
Total Long-Term Liabilities $13.81B $7.608B $7.902B
YoY Change 63.59% -3.72% 54.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.345B $7.686B $10.37B
Total Long-Term Liabilities $13.81B $7.608B $7.902B
Total Liabilities $23.44B $17.24B $20.44B
YoY Change 23.14% -15.67% 15.22%
SHAREHOLDERS EQUITY
Retained Earnings $9.752B $9.736B $6.856B
YoY Change 29.77% 42.01% 36.93%
Common Stock $11.08B $9.936B $9.837B
YoY Change 12.49% 1.01% 0.87%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.275B $7.083B $5.616B
YoY Change 15.49% 26.12% 51.66%
Treasury Stock Shares 198.0M shares 195.0M shares 82.00M shares
Shareholders Equity $13.24B $12.28B $10.85B
YoY Change
Total Liabilities & Shareholders Equity $43.12B $30.16B $31.71B
YoY Change 41.71% -4.87% 9.32%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $187.0M $948.0M $672.0M
YoY Change -76.57% 41.07% 300.0%
Depreciation, Depletion And Amortization $269.0M $364.0M $322.0M
YoY Change -25.07% 13.04% 7.69%
Cash From Operating Activities $808.0M $1.069B $1.078B
YoY Change 108.25% -0.83% 164.86%
INVESTING ACTIVITIES
Capital Expenditures -$721.0M -$513.0M -$383.0M
YoY Change 36.55% 33.94% 23.95%
Acquisitions
YoY Change
Other Investing Activities -$1.292B -$59.00M -$2.960B
YoY Change -14455.56% -98.01% 12233.33%
Cash From Investing Activities -$2.013B -$572.0M -$3.343B
YoY Change 287.86% -82.89% 903.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $156.0M $301.0M
YoY Change -48.17% -70.72%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 288.0M -334.0M 1.994B
YoY Change -225.76% -116.75% -277.24%
NET CHANGE
Cash From Operating Activities 808.0M 1.069B 1.078B
Cash From Investing Activities -2.013B -572.0M -3.343B
Cash From Financing Activities 288.0M -334.0M 1.994B
Net Change In Cash -917.0M 163.0M -271.0M
YoY Change 154.72% -160.15% -74.22%
FREE CASH FLOW
Cash From Operating Activities $808.0M $1.069B $1.078B
Capital Expenditures -$721.0M -$513.0M -$383.0M
Free Cash Flow $1.529B $1.582B $1.461B
YoY Change 66.92% 8.28% 104.05%

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us-gaap Investment Income Interest
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us-gaap Profit Loss
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SellingGeneralAndAdministrativeExpense
342000000 USD
CY2014Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
42.57
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
43.62
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
9000000 USD
CY2015Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
95000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
296000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
18000000 USD
CY2015Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000000 USD
CY2015Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
2950000000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
10751000000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
12277000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11332000000 USD
CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11266000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11390000000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12925000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-9000000 USD
CY2014Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
86000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
288000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1004000000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
392000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1143000000 USD
CY2015Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
50.86
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
49.97
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
179000000 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
195000000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
194000000 shares
CY2014Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
7000000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
33000000 shares
CY2015Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3000000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
15000000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
6299000000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
7083000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1449000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
773000000 USD
CY2014Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
35000000 USD
CY2015Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
36000000 USD
CY2014Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3000000 USD
CY2015Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3000000 USD
CY2014Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
3000000 USD
CY2015Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
1000000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
3000000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
35000000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-9000000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12000000 USD
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000 shares
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
569000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
579000000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
538000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
544000000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
565000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
575000000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
535000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
540000000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the Securities and Exchange Commission applicable to interim period financial statements and do not include all of the information and disclosures required by United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;) for complete financial statements.</font></div></div>

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