2014 Q2 Form 8-K Financial Statement

#000119312515353706 Filed on October 27, 2015

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q4
Revenue $23.38B $20.40B $24.52B
YoY Change 17.52% -0.42% 14.28%
Cost Of Revenue $7.633B $5.978B $8.322B
YoY Change 33.03% 24.88% 46.21%
Gross Profit $15.75B $14.43B $16.20B
YoY Change 10.18% -8.13% 2.75%
Gross Profit Margin 67.36% 70.7% 66.06%
Selling, General & Admin $6.017B $4.708B $5.480B
YoY Change 13.49% -13.61% 0.27%
% of Gross Profit 38.21% 32.64% 33.83%
Research & Development $3.123B $2.743B $2.748B
YoY Change 12.22% 3.9% 8.7%
% of Gross Profit 19.83% 19.02% 16.97%
Depreciation & Amortization $1.742B $1.255B $1.261B
YoY Change 77.21% 19.18% 24.98%
% of Gross Profit 11.06% 8.7% 7.79%
Operating Expenses $9.140B $7.451B $8.228B
YoY Change 13.05% -7.9% 2.94%
Operating Profit $6.482B $6.974B $7.969B
YoY Change 4.4% -8.38% 2.55%
Interest Expense $185.0M $175.0M $135.0M
YoY Change 704.35% 60.55% 28.57%
% of Operating Profit 2.85% 2.51% 1.69%
Other Income/Expense, Net -$66.00M -$17.00M -$91.00M
YoY Change -162.86% 88.89% 9000.0%
Pretax Income $6.577B $6.957B $7.878B
YoY Change 7.03% -8.5% 1.39%
Income Tax $1.965B $1.297B $1.320B
% Of Pretax Income 29.88% 18.64% 16.76%
Net Earnings $4.612B $5.660B $6.558B
YoY Change -7.11% -6.52% 2.84%
Net Earnings / Revenue 19.72% 27.74% 26.75%
Basic Earnings Per Share $0.56 $0.68 $0.79
Diluted Earnings Per Share $0.55 $0.68 $0.78
COMMON SHARES
Basic Shares Outstanding 8.284B shares 8.326B shares
Diluted Shares Outstanding 8.367B shares 8.395B shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.47B $88.16B $83.70B
YoY Change 11.32% 18.36% 22.52%
Cash & Equivalents $8.669B $11.57B $10.06B
Short-Term Investments $76.80B $76.59B $73.64B
Other Short-Term Assets $4.392B $5.429B $4.018B
YoY Change 29.63% 67.51% 21.72%
Inventory $2.660B $1.920B $1.594B
Prepaid Expenses
Receivables $19.54B $13.50B $15.99B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $114.2B $109.0B $106.9B
YoY Change 12.6% 16.55% 19.31%
LONG-TERM ASSETS
Property, Plant & Equipment $13.01B $11.77B $11.57B
YoY Change 30.23% 27.89% 32.98%
Goodwill $20.13B $14.68B
YoY Change 37.34% -0.32%
Intangibles
YoY Change
Long-Term Investments $14.60B $14.79B $14.61B
YoY Change 34.61% 32.15% 36.42%
Other Assets $3.422B $2.898B $2.874B
YoY Change 43.06% 28.12% 75.67%
Total Long-Term Assets $58.14B $47.11B $46.67B
YoY Change 41.92% 16.1% 19.34%
TOTAL ASSETS
Total Short-Term Assets $114.2B $109.0B $106.9B
Total Long-Term Assets $58.14B $47.11B $46.67B
Total Assets $172.4B $156.1B $153.5B
YoY Change 21.03% 16.42% 19.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.432B $4.583B $5.398B
YoY Change 53.94% 1.13% 23.92%
Accrued Expenses $4.797B $3.887B $3.169B
YoY Change 16.52% 11.89% 7.72%
Deferred Revenue
YoY Change
Short-Term Debt $2.000B $0.00 $300.0M
YoY Change
Long-Term Debt Due $0.00 $2.000B $2.000B
YoY Change -100.0% -10.95% -10.75%
Total Short-Term Liabilities $45.63B $33.90B $33.74B
YoY Change 21.94% 6.18% 5.74%
LONG-TERM LIABILITIES
Long-Term Debt $20.65B $20.68B $20.68B
YoY Change 63.84% 73.06% 73.06%
Other Long-Term Liabilities $11.59B $11.80B $9.790B
YoY Change 15.94% 21.34% 16.59%
Total Long-Term Liabilities $32.24B $32.47B $30.47B
YoY Change 42.64% 49.86% 49.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.63B $33.90B $33.74B
Total Long-Term Liabilities $32.24B $32.47B $30.47B
Total Liabilities $82.60B $68.70B $68.44B
YoY Change 30.11% 19.64% 21.99%
SHAREHOLDERS EQUITY
Retained Earnings $17.71B $14.35B
YoY Change 78.98% 238.69%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $89.78B $87.42B $85.10B
YoY Change
Total Liabilities & Shareholders Equity $172.4B $156.1B $153.5B
YoY Change 21.03% 16.42% 19.32%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income $4.612B $5.660B $6.558B
YoY Change -7.11% -6.52% 2.84%
Depreciation, Depletion And Amortization $1.742B $1.255B $1.261B
YoY Change 77.21% 19.18% 24.98%
Cash From Operating Activities $9.514B $10.10B $4.413B
YoY Change 61.17% 4.48% -7.68%
INVESTING ACTIVITIES
Capital Expenditures -$1.330B $1.192B $1.732B
YoY Change -25.86% 28.17% 86.24%
Acquisitions
YoY Change
Other Investing Activities -$7.580B -$3.092B $707.0M
YoY Change 87.39% -54.06% -142.51%
Cash From Investing Activities -$8.910B -$4.284B -$1.025B
YoY Change 52.59% -44.07% -60.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.704B $1.996B
YoY Change 106.55% 31.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.309B -4.304B 2.615B
YoY Change 125.26% 56.85% -314.17%
NET CHANGE
Cash From Operating Activities 9.514B 10.10B 4.413B
Cash From Investing Activities -8.910B -4.284B -1.025B
Cash From Financing Activities -3.309B -4.304B 2.615B
Net Change In Cash -2.705B 1.511B 6.003B
YoY Change 92.53% -304.74% 521.43%
FREE CASH FLOW
Cash From Operating Activities $9.514B $10.10B $4.413B
Capital Expenditures -$1.330B $1.192B $1.732B
Free Cash Flow $10.84B $8.907B $2.681B
YoY Change 40.89% 1.96% -30.36%

Facts In Submission

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<div> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <font style="FONT-FAMILY: ARIAL" size="2"><b>Estimates and Assumptions</b></font></p> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="justify"><font style="FONT-FAMILY: ARIAL" size="2">Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Examples of estimates include: loss contingencies; product warranties; the fair value of, and/or potential impairment of goodwill and intangibles assets, for our reporting units; product life cycles; useful lives of our tangible and intangible assets; allowances for doubtful accounts; allowances for product returns; the market value of our inventory; and stock-based compensation forfeiture rates. Examples of assumptions include: the elements comprising a software arrangement, including the distinction between upgrades or enhancements and new products; when technological feasibility is achieved for our products; the potential outcome of future tax consequences of events that have been recognized in our consolidated financial statements or tax returns; and determining when investment impairments are other-than-temporary. Actual results and outcomes may differ from management&#x2019;s estimates and assumptions.</font></p> </div>
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