2017 Q3 Form 10-Q Financial Statement

#000006850517000017 Filed on November 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4
Revenue $1.645B $1.883B
YoY Change 15.03% 11.95%
Cost Of Revenue $851.0M $955.0M
YoY Change 12.86% 13.15%
Gross Profit $794.0M $928.0M
YoY Change 17.46% 10.74%
Gross Profit Margin 48.27% 49.28%
Selling, General & Admin $259.0M $277.0M
YoY Change 7.92% 9.92%
% of Gross Profit 32.62% 29.85%
Research & Development $141.0M $142.0M
YoY Change 2.17% -6.58%
% of Gross Profit 17.76% 15.3%
Depreciation & Amortization $49.00M $45.00M
YoY Change 11.36% 50.0%
% of Gross Profit 6.17% 4.85%
Operating Expenses $400.0M $419.0M
YoY Change 5.82% 3.71%
Operating Profit $347.0M $403.0M
YoY Change 54.91% 3.33%
Interest Expense $55.00M $58.00M
YoY Change -6.78% 23.4%
% of Operating Profit 15.85% 14.39%
Other Income/Expense, Net -$61.00M -$48.00M
YoY Change 7.02% 41.18%
Pretax Income $286.0M $293.0M
YoY Change 71.26% 48.73%
Income Tax $73.00M $100.0M
% Of Pretax Income 25.52% 34.13%
Net Earnings $212.0M $243.0M
YoY Change 98.13% -12.9%
Net Earnings / Revenue 12.89% 12.9%
Basic Earnings Per Share $1.30 $1.47
Diluted Earnings Per Share $1.25 $1.43
COMMON SHARES
Basic Shares Outstanding 162.3M shares 166.3M shares
Diluted Shares Outstanding 169.0M shares 169.6M shares

Balance Sheet

Concept 2017 Q3 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $792.0M $1.732B
YoY Change -50.25% -21.27%
Cash & Equivalents $653.0M $967.0M
Short-Term Investments $50.00M $45.00M
Other Short-Term Assets $873.0M $755.0M
YoY Change 37.48% -20.86%
Inventory $364.0M $273.0M
Prepaid Expenses
Receivables $1.382B $1.410B
Other Receivables $110.0M $100.0M
Total Short-Term Assets $3.336B $3.468B
YoY Change -5.95% -24.92%
LONG-TERM ASSETS
Property, Plant & Equipment $889.0M $789.0M
YoY Change 14.27% 62.01%
Goodwill $932.0M $728.0M
YoY Change 56.11% 73.33%
Intangibles
YoY Change
Long-Term Investments $14.00M $17.00M
YoY Change 40.0% 88.89%
Other Assets $201.0M $200.0M
YoY Change -81.06% -26.2%
Total Long-Term Assets $5.282B $4.995B
YoY Change 7.36% 34.02%
TOTAL ASSETS
Total Short-Term Assets $3.336B $3.468B
Total Long-Term Assets $5.282B $4.995B
Total Assets $8.618B $8.463B
YoY Change 1.78% 1.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $473.0M $553.0M
YoY Change 15.65% 6.76%
Accrued Expenses $2.043B $2.111B
YoY Change 25.26% 26.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $46.00M $4.000M
YoY Change 820.0% 0.0%
Total Short-Term Liabilities $2.563B $2.668B
YoY Change 25.33% 21.66%
LONG-TERM LIABILITIES
Long-Term Debt $4.423B $4.392B
YoY Change -12.03% 1.08%
Other Long-Term Liabilities $2.450B $2.355B
YoY Change 18.24% 23.69%
Total Long-Term Liabilities $6.873B $6.747B
YoY Change -3.2% 7.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.563B $2.668B
Total Long-Term Liabilities $6.873B $6.747B
Total Liabilities $9.436B $9.415B
YoY Change 3.18% 11.53%
SHAREHOLDERS EQUITY
Retained Earnings $981.0M $1.148B
YoY Change -9.17% -33.1%
Common Stock $315.0M $205.0M
YoY Change 164.71% 365.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$830.0M -$964.0M
YoY Change
Total Liabilities & Shareholders Equity $8.618B $8.463B
YoY Change 1.78% 1.4%

Cashflow Statement

Concept 2017 Q3 2016 Q4
OPERATING ACTIVITIES
Net Income $212.0M $243.0M
YoY Change 98.13% -12.9%
Depreciation, Depletion And Amortization $49.00M $45.00M
YoY Change 11.36% 50.0%
Cash From Operating Activities $173.0M $348.0M
YoY Change -40.55% 15.61%
INVESTING ACTIVITIES
Capital Expenditures -$53.00M -$68.00M
YoY Change -42.39% 36.0%
Acquisitions
YoY Change
Other Investing Activities -$15.00M $11.00M
YoY Change -129.41% -164.71%
Cash From Investing Activities -$68.00M -$57.00M
YoY Change 65.85% -14.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -151.0M -140.0M
YoY Change -75.96% -87.5%
NET CHANGE
Cash From Operating Activities 173.0M 348.0M
Cash From Investing Activities -68.00M -57.00M
Cash From Financing Activities -151.0M -140.0M
Net Change In Cash -46.00M 151.0M
YoY Change -87.83% -117.04%
FREE CASH FLOW
Cash From Operating Activities $173.0M $348.0M
Capital Expenditures -$53.00M -$68.00M
Free Cash Flow $226.0M $416.0M
YoY Change -40.99% 18.52%

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us-gaap Impairment Of Investments
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
230000000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
211000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
206000000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
100
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
100
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
80000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
61000000 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
673000000 USD
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
us-gaap Proceeds From Legal Settlements
ProceedsFromLegalSettlements
52000000 USD
us-gaap Proceeds From Long Term Capital Lease Obligations
ProceedsFromLongTermCapitalLeaseObligations
0 USD
us-gaap Proceeds From Long Term Capital Lease Obligations
ProceedsFromLongTermCapitalLeaseObligations
7000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
68000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2016Q4 us-gaap Profit Loss
ProfitLoss
193000000 USD
us-gaap Profit Loss
ProfitLoss
318000000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
213000000 USD
us-gaap Profit Loss
ProfitLoss
422000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2239000000 USD
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2446000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
789000000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
889000000 USD
CY2017Q3 us-gaap Restricted Cash
RestrictedCash
64000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15000000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
137000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
411000000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
141000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
413000000 USD
CY2016Q4 us-gaap Restricted Cash
RestrictedCash
63000000 USD
us-gaap Restructuring Charges
RestructuringCharges
35000000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
102000000 USD
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
55000000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-5000000 USD
CY2016Q4 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
7000000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
74000000 USD
CY2017Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
8000000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
30000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1148000000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
981000000 USD
CY2016Q4 us-gaap Revenues
Revenues
1532000000 USD
us-gaap Revenues
Revenues
4155000000 USD
CY2017Q3 us-gaap Revenues
Revenues
1645000000 USD
us-gaap Revenues
Revenues
4423000000 USD
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
920000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2423000000 USD
CY2017Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
989000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2540000000 USD
CY2016Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
612000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1732000000 USD
CY2017Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
656000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1883000000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
247000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
722000000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
248000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
725000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
52000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
49000000 USD
CY2017Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1800000000 USD
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
4300000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
12200000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-964000000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
-830000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-952000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-818000000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
83.22
CY2016Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
90000000 USD
CY2017Q3 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
144000000 USD
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169300000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
166300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
171000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
162300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
163200000 shares

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