2018 Q4 Form 10-Q Financial Statement

#000031015818000039 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $11.00B $10.79B $10.33B
YoY Change 5.42% 4.54% -2.0%
Cost Of Revenue $3.276B $3.619B $3.307B
YoY Change -6.8% 9.43% -2.99%
Gross Profit $7.722B $7.175B $7.018B
YoY Change 11.62% 2.24% -1.53%
Gross Profit Margin 70.21% 66.47% 67.97%
Selling, General & Admin $2.610B $2.443B $2.459B
YoY Change -7.45% -0.65% 2.76%
% of Gross Profit 33.8% 34.05% 35.04%
Research & Development $2.061B $2.068B $4.413B
YoY Change -5.55% -53.14% 165.2%
% of Gross Profit 26.69% 28.82% 62.88%
Depreciation & Amortization $998.0M $1.158B $1.154B
YoY Change -11.52% 0.35% -1.79%
% of Gross Profit 12.92% 16.14% 16.44%
Operating Expenses $4.671B $4.511B $6.872B
YoY Change -6.62% -34.36% 69.39%
Operating Profit $3.051B $2.664B $146.0M
YoY Change 59.24% 1724.66% -95.24%
Interest Expense $88.00M $190.0M $189.0M
YoY Change -67.16% 0.53% 11.18%
% of Operating Profit 2.88% 7.13% 129.45%
Other Income/Expense, Net -$198.0M $172.0M $207.0M
YoY Change -175.57% -16.91% -1040.91%
Pretax Income $2.604B $2.665B $200.0M
YoY Change 38.58% 1232.5% -93.07%
Income Tax $537.0M $707.0M $251.0M
% Of Pretax Income 20.62% 26.53% 125.5%
Net Earnings $1.827B $1.950B -$56.00M
YoY Change -274.67% -3582.14% -102.56%
Net Earnings / Revenue 16.61% 18.07% -0.54%
Basic Earnings Per Share $0.73 -$0.02
Diluted Earnings Per Share $693.6K $0.73 -$0.02
COMMON SHARES
Basic Shares Outstanding 2.600B shares 2.662B shares 2.727B shares
Diluted Shares Outstanding 2.678B shares 2.727B shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.859B $10.23B $10.90B
YoY Change 4.32% -6.19% -16.83%
Cash & Equivalents $7.965B $7.826B $7.901B
Short-Term Investments $894.0M $2.400B $3.000B
Other Short-Term Assets $4.500B $3.761B $3.790B
YoY Change 4.68% -0.77% 0.66%
Inventory $5.440B $5.416B $5.263B
Prepaid Expenses
Receivables $7.071B $7.374B $7.671B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $25.88B $26.84B $27.92B
YoY Change 4.48% -3.88% -5.17%
LONG-TERM ASSETS
Property, Plant & Equipment $13.29B $12.76B $12.19B
YoY Change 6.85% 4.64% 1.33%
Goodwill $18.25B $18.26B $18.34B
YoY Change -0.17% -0.45% 0.44%
Intangibles $13.10B $12.18B $15.14B
YoY Change -7.61% -19.57% -26.18%
Long-Term Investments $6.233B $7.606B $12.21B
YoY Change 712.65% -37.69% 4.71%
Other Assets $7.554B $7.500B $5.884B
YoY Change 42.31% 27.46% -8.68%
Total Long-Term Assets $56.76B $58.29B $63.76B
YoY Change -10.05% -8.57% -7.46%
TOTAL ASSETS
Total Short-Term Assets $25.88B $26.84B $27.92B
Total Long-Term Assets $56.76B $58.29B $63.76B
Total Assets $82.64B $85.13B $91.68B
YoY Change -5.96% -7.14% -6.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.318B $3.091B $2.620B
YoY Change 6.96% 17.98% 5.6%
Accrued Expenses $10.07B $9.711B $9.789B
YoY Change -1.85% -0.8% 8.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.308B $3.656B $5.157B
YoY Change 76.93% -29.11% 246.81%
Total Short-Term Liabilities $22.21B $18.59B $19.47B
YoY Change 19.3% -4.53% 25.15%
LONG-TERM LIABILITIES
Long-Term Debt $19.81B $19.94B $21.84B
YoY Change -7.24% -8.71% -7.69%
Other Long-Term Liabilities $12.04B $11.89B $7.713B
YoY Change 8.31% 54.12% -12.28%
Total Long-Term Liabilities $31.85B $31.82B $29.55B
YoY Change -1.92% 7.69% -8.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.21B $18.59B $19.47B
Total Long-Term Liabilities $31.85B $31.82B $29.55B
Total Liabilities $54.05B $50.41B $49.02B
YoY Change 5.81% 2.84% 2.11%
SHAREHOLDERS EQUITY
Retained Earnings $42.58B $42.19B $43.70B
YoY Change 2.97% -3.46% -5.06%
Common Stock $40.60B $41.55B $41.61B
YoY Change -2.62% -0.15% -0.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $50.93B $46.17B $42.12B
YoY Change 16.29% 9.61% 6.05%
Treasury Stock Shares 984.5M shares 918.4M shares 850.7M shares
Shareholders Equity $26.70B $32.42B $38.25B
YoY Change
Total Liabilities & Shareholders Equity $82.64B $85.13B $91.68B
YoY Change -5.96% -7.14% -6.77%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $1.827B $1.950B -$56.00M
YoY Change -274.67% -3582.14% -102.56%
Depreciation, Depletion And Amortization $998.0M $1.158B $1.154B
YoY Change -11.52% 0.35% -1.79%
Cash From Operating Activities $3.592B $2.793B -$1.171B
YoY Change -10.54% -338.51% -139.41%
INVESTING ACTIVITIES
Capital Expenditures -$929.0M -$653.0M -$441.0M
YoY Change 29.93% 48.07% 7.82%
Acquisitions
YoY Change
Other Investing Activities $3.107B $2.313B $1.112B
YoY Change 372.91% 108.0% -331.19%
Cash From Investing Activities $2.178B $1.660B $671.0M
YoY Change -3855.17% 147.39% -175.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.566B -1.905B 536.0M
YoY Change -3.79% -455.41% -164.19%
NET CHANGE
Cash From Operating Activities 3.592B 2.793B -1.171B
Cash From Investing Activities 2.178B 1.660B 671.0M
Cash From Financing Activities -5.566B -1.905B 536.0M
Net Change In Cash 204.0M 2.548B 36.00M
YoY Change -111.16% 6977.78% -97.11%
FREE CASH FLOW
Cash From Operating Activities $3.592B $2.793B -$1.171B
Capital Expenditures -$929.0M -$653.0M -$441.0M
Free Cash Flow $4.521B $3.446B -$730.0M
YoY Change -4.42% -572.05% -121.6%

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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8024000000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2068000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7538000000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4000000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2000000 USD
CY2018Q3 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
14000000000 USD
CY2017Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
180000000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
605000000 USD
CY2018Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
169000000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
508000000 USD
CY2017Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
205 position
us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
1225 position
CY2018Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
525 position
us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
1870 position
CY2018Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Inception To Date
RestructuringAndRelatedCostNumberOfPositionsEliminatedInceptionToDate
45220 position
CY2017Q3 us-gaap Restructuring Charges
RestructuringCharges
153000000 USD
us-gaap Restructuring Charges
RestructuringCharges
470000000 USD
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
171000000 USD
us-gaap Restructuring Charges
RestructuringCharges
494000000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
747000000 USD
CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
573000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
41350000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
42189000000 USD
CY2017Q3 us-gaap Revenues
Revenues
10325000000 USD
us-gaap Revenues
Revenues
29689000000 USD
CY2018Q3 us-gaap Revenues
Revenues
10794000000 USD
us-gaap Revenues
Revenues
31296000000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2459000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7432000000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2443000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7459000000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
76000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
232000000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
91000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
261000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.036
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.034
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.178
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.191
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.020
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.028
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
4000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
3000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.04
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.19
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
63.96
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
57.72
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
34336000000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
32422000000 USD
CY2017Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
78130000000 USD
CY2018Q3 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
78588000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
40308000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
39712000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
38499000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
34569000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
32766000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
32656000000 USD
CY2017Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
-140000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-623000000 USD
CY2018Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
-252000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-646000000 USD
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
88000000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
880491914 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
918364126 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
43794000000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
46166000000 USD
CY2017Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
159000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2312000000 USD
CY2018Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
996000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3158000000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
19000000 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
16000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
14000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2727000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2754000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2678000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2694000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2727000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2735000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2662000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2680000000 shares

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