2016 Q3 Form 10-Q Financial Statement

#000006850516000026 Filed on August 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $1.430B $1.368B
YoY Change 4.53% -4.74%
Cost Of Revenue $754.0M $720.0M
YoY Change 4.72% -4.13%
Gross Profit $676.0M $648.0M
YoY Change 4.32% -5.4%
Gross Profit Margin 47.27% 47.37%
Selling, General & Admin $240.0M $254.0M
YoY Change -5.51% -11.5%
% of Gross Profit 35.5% 39.2%
Research & Development $138.0M $156.0M
YoY Change -11.54% -6.02%
% of Gross Profit 20.41% 24.07%
Depreciation & Amortization $44.00M $38.00M
YoY Change 15.79% -13.64%
% of Gross Profit 6.51% 5.86%
Operating Expenses $378.0M $410.0M
YoY Change -7.8% -9.49%
Operating Profit $224.0M $254.0M
YoY Change -11.81% 22.71%
Interest Expense $59.00M $42.00M
YoY Change 40.48% 10.53%
% of Operating Profit 26.34% 16.54%
Other Income/Expense, Net -$57.00M -$39.00M
YoY Change 46.15% -30.36%
Pretax Income $167.0M $215.0M
YoY Change -22.33% 42.38%
Income Tax $59.00M $64.00M
% Of Pretax Income 35.33% 29.77%
Net Earnings $107.0M $142.0M
YoY Change -24.65% -3.4%
Net Earnings / Revenue 7.48% 10.38%
Basic Earnings Per Share $0.62 $0.68
Diluted Earnings Per Share $0.61 $0.68
COMMON SHARES
Basic Shares Outstanding 171.9M shares 208.0M shares
Diluted Shares Outstanding 174.8M shares 209.5M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.592B $3.115B
YoY Change -48.89% 9.49%
Cash & Equivalents $1.545B $3.112B
Short-Term Investments $47.00M $3.000M
Other Short-Term Assets $635.0M $593.0M
YoY Change 7.08% -1.82%
Inventory $284.0M $364.0M
Prepaid Expenses
Receivables $1.083B $1.141B
Other Receivables $107.0M $90.00M
Total Short-Term Assets $3.547B $5.632B
YoY Change -37.02% -21.43%
LONG-TERM ASSETS
Property, Plant & Equipment $778.0M $542.0M
YoY Change 43.54% -18.37%
Goodwill $597.0M $423.0M
YoY Change 41.13% 10.44%
Intangibles
YoY Change
Long-Term Investments $10.00M $285.0M
YoY Change -96.49% 18.75%
Other Assets $1.061B $160.0M
YoY Change 563.13% 15.94%
Total Long-Term Assets $4.920B $3.528B
YoY Change 39.46% -29.82%
TOTAL ASSETS
Total Short-Term Assets $3.547B $5.632B
Total Long-Term Assets $4.920B $3.528B
Total Assets $8.467B $9.160B
YoY Change -7.57% -24.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $409.0M $417.0M
YoY Change -1.92% -16.77%
Accrued Expenses $1.631B $1.550B
YoY Change 5.23% -7.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M $4.000M
YoY Change 25.0% 0.0%
Total Short-Term Liabilities $2.045B $1.971B
YoY Change 3.75% -34.82%
LONG-TERM LIABILITIES
Long-Term Debt $5.028B $3.393B
YoY Change 48.19% -0.24%
Other Long-Term Liabilities $2.072B $1.973B
YoY Change 5.02% -16.54%
Total Long-Term Liabilities $7.100B $5.366B
YoY Change 32.31% -6.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.045B $1.971B
Total Long-Term Liabilities $7.100B $5.366B
Total Liabilities $9.145B $7.337B
YoY Change 24.64% -16.52%
SHAREHOLDERS EQUITY
Retained Earnings $1.080B $3.485B
YoY Change -69.01% 6.12%
Common Stock $119.0M $315.0M
YoY Change -62.22% -87.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$689.0M $1.815B
YoY Change
Total Liabilities & Shareholders Equity $8.467B $9.160B
YoY Change -7.57% -24.89%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $107.0M $142.0M
YoY Change -24.65% -3.4%
Depreciation, Depletion And Amortization $44.00M $38.00M
YoY Change 15.79% -13.64%
Cash From Operating Activities $291.0M $150.0M
YoY Change 94.0% -204.9%
INVESTING ACTIVITIES
Capital Expenditures -$92.00M -$48.00M
YoY Change 91.67% 0.0%
Acquisitions
YoY Change
Other Investing Activities $51.00M $4.000M
YoY Change 1175.0% -150.0%
Cash From Investing Activities -$41.00M -$44.00M
YoY Change -6.82% -21.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $285.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -628.0M -364.0M
YoY Change 72.53% -283.84%
NET CHANGE
Cash From Operating Activities 291.0M 150.0M
Cash From Investing Activities -41.00M -44.00M
Cash From Financing Activities -628.0M -364.0M
Net Change In Cash -378.0M -258.0M
YoY Change 46.51% 25700.0%
FREE CASH FLOW
Cash From Operating Activities $291.0M $150.0M
Capital Expenditures -$92.00M -$48.00M
Free Cash Flow $383.0M $198.0M
YoY Change 93.43% -308.42%

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us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Impairment Of Long Lived Assets Held For Use
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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 Including Portion Attributable To Noncontrolling Interest
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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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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Loss Available For Sale Securities 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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CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2015Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
83000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
82000000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-56000000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2015Q4 us-gaap Other Liabilities Noncurrent
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1904000000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
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CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2015Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
16000000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
2000000 USD
CY2016Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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CY2016Q3 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
0 USD
CY2015Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
13000000 USD
us-gaap Other Restructuring Costs
OtherRestructuringCosts
26000000 USD
CY2016Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
19000000 USD
us-gaap Other Restructuring Costs
OtherRestructuringCosts
25000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
939000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
619000000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
42000000 USD
CY2015Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
72000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
148000000 USD
CY2016Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
72000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
143000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
81000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
143000000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
100
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
100
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
40000000 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
673000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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1000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
46000000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
143000000 USD
us-gaap Profit Loss
ProfitLoss
218000000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
108000000 USD
us-gaap Profit Loss
ProfitLoss
125000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2125000000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2456000000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
487000000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
778000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2000000 USD
us-gaap Repayments Of Long Term Debt
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2000000 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
156000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
315000000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
138000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
274000000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
63000000 USD
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
64000000 USD
us-gaap Restructuring Charges
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51000000 USD
CY2015Q4 us-gaap Restructuring Reserve
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60000000 USD
CY2016Q3 us-gaap Restructuring Reserve
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65000000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
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CY2015Q3 us-gaap Restructuring Settlement And Impairment Provisions
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16000000 USD
us-gaap Restructuring Settlement And Impairment Provisions
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30000000 USD
CY2016Q3 us-gaap Restructuring Settlement And Impairment Provisions
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44000000 USD
us-gaap Restructuring Settlement And Impairment Provisions
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67000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1716000000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1080000000 USD
CY2015Q3 us-gaap Revenues
Revenues
1368000000 USD
us-gaap Revenues
Revenues
2591000000 USD
CY2016Q3 us-gaap Revenues
Revenues
1430000000 USD
us-gaap Revenues
Revenues
2623000000 USD
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
867000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1626000000 USD
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
801000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1503000000 USD
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
501000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
965000000 USD
CY2016Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
629000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1120000000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
254000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
510000000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
240000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
475000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
40000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
35000000 USD
CY2016Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
415000000 USD
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
9000000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
11600000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Treasury Stock Acquired Average Cost Per Share
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68.68
CY2015Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
44000000 USD
CY2016Q3 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
107000000 USD
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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209500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
213800000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
175700000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
208000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
211700000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
171900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
173000000 shares

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