2017 Q4 Form 10-K Financial Statement

#000006850518000009 Filed on February 16, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017
Revenue $1.957B $1.645B $6.380B
YoY Change 3.93% 15.03% 5.66%
Cost Of Revenue $987.0M $851.0M $3.356B
YoY Change 3.35% 12.86% 5.9%
Gross Profit $970.0M $794.0M $3.024B
YoY Change 4.53% 17.46% 5.4%
Gross Profit Margin 49.57% 48.27% 47.4%
Selling, General & Admin $267.0M $259.0M $1.025B
YoY Change -3.61% 7.92% -1.82%
% of Gross Profit 27.53% 32.62% 33.9%
Research & Development $155.0M $141.0M $568.0M
YoY Change 9.15% 2.17% 2.71%
% of Gross Profit 15.98% 17.76% 18.78%
Depreciation & Amortization $89.00M $49.00M $343.0M
YoY Change 97.78% 11.36% 16.27%
% of Gross Profit 9.18% 6.17% 11.34%
Operating Expenses $422.0M $400.0M $1.593B
YoY Change 0.72% 5.82% -0.25%
Operating Profit $503.0M $347.0M $1.284B
YoY Change 24.81% 54.91% 22.52%
Interest Expense -$48.00M $55.00M $215.0M
YoY Change -182.76% -6.78% -4.44%
% of Operating Profit -9.54% 15.85% 16.74%
Other Income/Expense, Net $13.00M -$61.00M -$208.0M
YoY Change -127.08% 7.02% 1.96%
Pretax Income $466.0M $286.0M $1.076B
YoY Change 59.04% 71.26% 27.49%
Income Tax $165.0M $73.00M $1.227B
% Of Pretax Income 35.41% 25.52% 114.03%
Net Earnings -$575.0M $212.0M -$155.0M
YoY Change -336.63% 98.13% -127.68%
Net Earnings / Revenue -29.38% 12.89% -2.43%
Basic Earnings Per Share -$3.56 $1.30 -$0.95
Diluted Earnings Per Share -$3.56 $1.25 -$0.95
COMMON SHARES
Basic Shares Outstanding 162.3M shares 162.9M shares
Diluted Shares Outstanding 169.0M shares 162.9M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.205B $792.0M $1.205B
YoY Change -30.43% -50.25% 11.99%
Cash & Equivalents $1.205B $653.0M $1.205B
Short-Term Investments $0.00 $50.00M $0.00
Other Short-Term Assets $832.0M $873.0M $194.0M
YoY Change 10.2% 37.48% 56.45%
Inventory $327.0M $364.0M $876.0M
Prepaid Expenses
Receivables $1.523B $1.382B $1.585B
Other Receivables $90.00M $110.0M $90.00M
Total Short-Term Assets $3.950B $3.336B $3.950B
YoY Change 13.9% -5.95% 13.9%
LONG-TERM ASSETS
Property, Plant & Equipment $856.0M $889.0M $856.0M
YoY Change 8.49% 14.27% 8.49%
Goodwill $938.0M $932.0M
YoY Change 28.85% 56.11%
Intangibles
YoY Change
Long-Term Investments $13.00M $14.00M $247.0M
YoY Change -23.53% 40.0% 3.78%
Other Assets $333.0M $201.0M $1.245B
YoY Change 66.5% -81.06% -46.57%
Total Long-Term Assets $4.258B $5.282B $4.258B
YoY Change -14.75% 7.36% -14.75%
TOTAL ASSETS
Total Short-Term Assets $3.950B $3.336B $3.950B
Total Long-Term Assets $4.258B $5.282B $4.258B
Total Assets $8.208B $8.618B $8.208B
YoY Change -3.01% 1.78% -3.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $593.0M $473.0M $593.0M
YoY Change 7.23% 15.65% 7.23%
Accrued Expenses $2.286B $2.043B $903.0M
YoY Change 8.29% 25.26% 7.76%
Deferred Revenue $0.00
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $52.00M $46.00M $52.00M
YoY Change 1200.0% 820.0% 1200.0%
Total Short-Term Liabilities $2.931B $2.563B $2.931B
YoY Change 9.86% 25.33% 9.86%
LONG-TERM LIABILITIES
Long-Term Debt $4.419B $4.423B $4.419B
YoY Change 0.61% -12.03% 0.61%
Other Long-Term Liabilities $2.585B $2.450B $2.470B
YoY Change 9.77% 18.24% 10.56%
Total Long-Term Liabilities $7.004B $6.873B $6.889B
YoY Change 3.81% -3.2% 3.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.931B $2.563B $2.931B
Total Long-Term Liabilities $7.004B $6.873B $6.889B
Total Liabilities $9.935B $9.436B $9.950B
YoY Change 5.52% 3.18% 5.55%
SHAREHOLDERS EQUITY
Retained Earnings $467.0M $981.0M
YoY Change -59.32% -9.17%
Common Stock $353.0M $315.0M
YoY Change 72.2% 164.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.742B -$830.0M -$1.742B
YoY Change
Total Liabilities & Shareholders Equity $8.208B $8.618B $8.208B
YoY Change -3.01% 1.78% -3.01%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017
OPERATING ACTIVITIES
Net Income -$575.0M $212.0M -$155.0M
YoY Change -336.63% 98.13% -127.68%
Depreciation, Depletion And Amortization $89.00M $49.00M $343.0M
YoY Change 97.78% 11.36% 16.27%
Cash From Operating Activities $761.0M $173.0M $1.346B
YoY Change 118.68% -40.55% 15.54%
INVESTING ACTIVITIES
Capital Expenditures -$21.00M -$53.00M -$227.0M
YoY Change -69.12% -42.39% -16.24%
Acquisitions
YoY Change
Other Investing Activities -$12.00M -$15.00M -$221.0M
YoY Change -209.09% -129.41% -69.77%
Cash From Investing Activities -$33.00M -$68.00M -$448.0M
YoY Change -42.11% 65.85% -55.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $401.0M
YoY Change -46.46%
Debt Paid & Issued, Net $21.00M
YoY Change -96.94%
Cash From Financing Activities -185.0M -151.0M -$722.0M
YoY Change 32.14% -75.96% -30.71%
NET CHANGE
Cash From Operating Activities 761.0M 173.0M $1.346B
Cash From Investing Activities -33.00M -68.00M -$448.0M
Cash From Financing Activities -185.0M -151.0M -$722.0M
Net Change In Cash 543.0M -46.00M $238.0M
YoY Change 259.6% -87.83% -125.05%
FREE CASH FLOW
Cash From Operating Activities $761.0M $173.0M $1.346B
Capital Expenditures -$21.00M -$53.00M -$227.0M
Free Cash Flow $782.0M $226.0M $1.573B
YoY Change 87.98% -40.99% 9.54%

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CY2016Q4 us-gaap Cost Of Revenue
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CY2016Q4 us-gaap Earnings Per Share Basic
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0.61
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1.13
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.43
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.24
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0.45
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0.78
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1.140
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
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0.350
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
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-0.010
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-0.007
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.812
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.050
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.030
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.026
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.016
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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-0.004
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.006
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2015 us-gaap Impairment Of Long Lived Assets Held For Use
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2100000 shares
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2700000 shares
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1021000000 USD
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37000000 USD
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341000000 USD
CY2016Q4 us-gaap Operating Income Loss
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403000000 USD
CY2016 us-gaap Operating Income Loss
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;"></font><font style="font-family:Arial;font-size:9pt;">The preparation of financial statements in conformity with United States ("U.S.") Generally Accepted Accounting Principles ("GAAP") requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</font></div></div>

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