2014 Q2 Form 10-Q Financial Statement

#000006850514000010 Filed on August 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $1.393B $1.497B
YoY Change -6.95% -2.6%
Cost Of Revenue $737.0M $747.0M
YoY Change -1.34% -3.11%
Gross Profit $656.0M $750.0M
YoY Change -12.53% -2.09%
Gross Profit Margin 47.09% 50.1%
Selling, General & Admin $308.0M $339.0M
YoY Change -9.14% -8.63%
% of Gross Profit 46.95% 45.2%
Research & Development $176.0M $195.0M
YoY Change -9.74% -1.52%
% of Gross Profit 26.83% 26.0%
Depreciation & Amortization $45.00M $40.00M
YoY Change 12.5% -16.67%
% of Gross Profit 6.86% 5.33%
Operating Expenses $484.0M $534.0M
YoY Change -9.36% -6.15%
Operating Profit $138.0M $203.0M
YoY Change -32.02% 6.84%
Interest Expense $34.00M $38.00M
YoY Change -10.53% 52.0%
% of Operating Profit 24.64% 18.72%
Other Income/Expense, Net -$40.00M -$35.00M
YoY Change 14.29% -7.89%
Pretax Income $98.00M $168.0M
YoY Change -41.67% -30.0%
Income Tax $20.00M -$59.00M
% Of Pretax Income 20.41% -35.12%
Net Earnings $824.0M $258.0M
YoY Change 219.38% 41.76%
Net Earnings / Revenue 59.15% 17.23%
Basic Earnings Per Share $3.25 $0.96
Diluted Earnings Per Share $3.22 $0.94
COMMON SHARES
Basic Shares Outstanding 253.7M shares 269.5M shares
Diluted Shares Outstanding 256.2M shares 274.7M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.876B $3.216B
YoY Change -10.57% -13.2%
Cash & Equivalents $2.876B $1.457B
Short-Term Investments $1.759B
Other Short-Term Assets $527.0M $779.0M
YoY Change -32.35% 2.37%
Inventory $330.0M $498.0M
Prepaid Expenses
Receivables $1.185B $1.707B
Other Receivables $64.00M $103.0M
Total Short-Term Assets $7.066B $6.841B
YoY Change 3.29% -5.29%
LONG-TERM ASSETS
Property, Plant & Equipment $682.0M $830.0M
YoY Change -17.83% -3.15%
Goodwill $383.0M $1.502B
YoY Change -74.5% 5.03%
Intangibles
YoY Change
Long-Term Investments $236.0M $142.0M
YoY Change 66.2% -29.0%
Other Assets $128.0M $315.0M
YoY Change -59.37% 7.51%
Total Long-Term Assets $4.802B $5.319B
YoY Change -9.72% 7.02%
TOTAL ASSETS
Total Short-Term Assets $7.066B $6.841B
Total Long-Term Assets $4.802B $5.319B
Total Assets $11.87B $12.16B
YoY Change -2.4% -0.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $453.0M $597.0M
YoY Change -24.12% -6.28%
Accrued Expenses $1.615B $2.193B
YoY Change -26.36% -6.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.000M $4.000M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $2.924B $2.794B
YoY Change 4.65% -6.56%
LONG-TERM LIABILITIES
Long-Term Debt $2.446B $2.452B
YoY Change -0.24% 31.76%
Other Long-Term Liabilities $2.151B $4.095B
YoY Change -47.47% 18.05%
Total Long-Term Liabilities $4.597B $6.547B
YoY Change -29.78% 22.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.924B $2.794B
Total Long-Term Liabilities $4.597B $6.547B
Total Liabilities $7.521B $9.341B
YoY Change -19.48% 12.27%
SHAREHOLDERS EQUITY
Retained Earnings $3.219B $1.935B
YoY Change 66.36% 57.57%
Common Stock $3.165B $4.165B
YoY Change -24.01% -23.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.139B $2.791B
YoY Change
Total Liabilities & Shareholders Equity $11.87B $12.16B
YoY Change -2.4% -0.27%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $824.0M $258.0M
YoY Change 219.38% 41.76%
Depreciation, Depletion And Amortization $45.00M $40.00M
YoY Change 12.5% -16.67%
Cash From Operating Activities $173.0M $85.00M
YoY Change 103.53% -66.4%
INVESTING ACTIVITIES
Capital Expenditures -$41.00M -$33.00M
YoY Change 24.24% -36.54%
Acquisitions
YoY Change
Other Investing Activities $22.00M $485.0M
YoY Change -95.46% 463.95%
Cash From Investing Activities -$19.00M $452.0M
YoY Change -104.2% 1229.41%
FINANCING ACTIVITIES
Cash Dividend Paid $71.00M
YoY Change 10.94%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -424.0M -554.0M
YoY Change -23.47% 184.1%
NET CHANGE
Cash From Operating Activities 173.0M 85.00M
Cash From Investing Activities -19.00M 452.0M
Cash From Financing Activities -424.0M -554.0M
Net Change In Cash -270.0M -17.00M
YoY Change 1488.24% -118.48%
FREE CASH FLOW
Cash From Operating Activities $173.0M $85.00M
Capital Expenditures -$41.00M -$33.00M
Free Cash Flow $214.0M $118.0M
YoY Change 81.36% -61.31%

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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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186000000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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168000000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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78000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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163000000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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384000000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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227000000 USD
us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2014Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2014Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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CY2013Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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70000000 USD
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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35000000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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70000000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Taxes Paid Net
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Other Operating Assets
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23000000 USD
us-gaap Increase Decrease In Other Operating Assets
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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5800000 shares
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2500000 shares
CY2013Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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Land
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us-gaap Net Cash Provided By Used In Discontinued Operations
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us-gaap Net Income Loss
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24000000 USD
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us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
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19000000 USD
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2013Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Other Restructuring Costs
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us-gaap Payments For Restructuring
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2014Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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CY2014Q2 us-gaap Research And Development Expense
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CY2014Q2 msi Largest Positions Of Foreign Currency Derivatives Held
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5 position
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msi Legal And Related Insurance Charges
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msi Legal And Related Insurance Charges
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dei Entity Registrant Name
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msi Share Based Compensation Expense Impact On Earnings Per Share Basic
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msi Share Based Compensation Expense Impact On Earnings Per Share Diluted
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msi Significant Change In Cash Payment Of Unrecognized Tax Benefits Reasonably Possible Estimated Upper Range Of Change
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CY2014Q2 msi Total Proceeds From One Time Sales
TotalProceedsFromOneTimeSales
78000000 USD
msi Total Proceeds From One Time Sales
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55000000 USD
CY2013Q2 msi Total Proceeds From One Time Sales
TotalProceedsFromOneTimeSales
27000000 USD
msi Total Proceeds From One Time Sales
TotalProceedsFromOneTimeSales
85000000 USD
CY2014Q2 msi Undistributed Non Us Earnings
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CY2014Q2 msi Unrecognized Tax Benefits Noncurrent
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CY2013Q4 msi Unrecognized Tax Benefits Noncurrent
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CY2013Q4 msi Valuation Allowance Amount Foreign
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CY2014Q2 msi Valuation Allowance Amount Foreign
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dei Amendment Flag
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-28
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000068505
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
250878592 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer

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