2014 Q1 Form 10-Q Financial Statement

#000119312514186862 Filed on May 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $1.286B $1.332B $1.291B
YoY Change -0.35% 2.67% -81.44%
Cost Of Revenue $262.3M $434.8M $337.2M
YoY Change -22.21% -110.22% -94.38%
Gross Profit $1.043B $912.8M $953.7M
YoY Change 9.31% 2.76% -0.03%
Gross Profit Margin 81.04% 68.54% 73.88%
Selling, General & Admin $92.03M $111.5M $81.47M
YoY Change 12.96% 112.38% -7.59%
% of Gross Profit 8.83% 12.22% 8.54%
Research & Development $138.5M $157.1M $108.5M
YoY Change 27.65% 14.5% 105.1%
% of Gross Profit 13.29% 17.21% 11.38%
Depreciation & Amortization $396.2M $414.2M $363.1M
YoY Change 9.12% 23.2% 9.19%
% of Gross Profit 38.01% 45.38% 38.08%
Operating Expenses $92.03M $695.4M $81.47M
YoY Change 12.96% 29.76% -7.59%
Operating Profit $950.5M $217.4M $872.2M
YoY Change 8.97% -38.31% 0.74%
Interest Expense $32.89M -$22.60M $27.03M
YoY Change 21.67% 276.67% 130.24%
% of Operating Profit 3.46% -10.4% 3.1%
Other Income/Expense, Net $814.0K $0.00
YoY Change -100.0%
Pretax Income $334.2M $194.8M $360.0M
YoY Change -7.18% -2.84% -23.66%
Income Tax $164.9M $14.40M $177.3M
% Of Pretax Income 49.34% 7.39% 49.26%
Net Earnings $155.3M $75.40M $360.6M
YoY Change -56.95% -52.49% 24.3%
Net Earnings / Revenue 12.07% 5.66% 27.93%
Basic Earnings Per Share $0.86 $0.41 $1.89
Diluted Earnings Per Share $0.85 $0.40 $1.88
COMMON SHARES
Basic Shares Outstanding 181.4M shares 190.8M shares
Diluted Shares Outstanding 182.6M shares 191.8M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.021B $1.125B $1.333B
YoY Change -23.41% 5.83% -6.85%
Cash & Equivalents $648.6M $750.2M $1.117B
Short-Term Investments $372.0M $375.0M $216.0M
Other Short-Term Assets $1.056B $1.092B $460.0M
YoY Change 129.57% 148.18% 102.64%
Inventory $293.0M $294.0M $630.0M
Prepaid Expenses $126.0M $83.86M $390.2M
Receivables $1.007B $999.9M $1.676B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.374B $3.509B $4.099B
YoY Change -17.69% -14.6% 7.73%
LONG-TERM ASSETS
Property, Plant & Equipment $13.65B $13.48B $13.42B
YoY Change 1.74% 3.61% 22.87%
Goodwill $38.70M $40.26M $42.03M
YoY Change -7.93% -6.6% -1.84%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $95.27M $98.12M $141.2M
YoY Change -32.51% -35.1% -15.26%
Total Long-Term Assets $14.18B $14.00B $13.65B
YoY Change 3.84% 4.37% 22.64%
TOTAL ASSETS
Total Short-Term Assets $3.374B $3.509B $4.099B
Total Long-Term Assets $14.18B $14.00B $13.65B
Total Assets $17.55B $17.51B $17.75B
YoY Change -1.13% -0.08% 18.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.149B $2.336B $2.890B
YoY Change -25.64% -16.68% 9.02%
Accrued Expenses $177.0M
YoY Change -47.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $30.65M $26.25M $46.00K
YoY Change 66523.91% 56963.04% -99.99%
Total Short-Term Liabilities $3.057B $3.224B $3.272B
YoY Change -6.58% -5.43% 0.81%
LONG-TERM LIABILITIES
Long-Term Debt $3.416B $2.937B $2.507B
YoY Change 36.24% 30.79% 904.67%
Other Long-Term Liabilities $338.0M $339.0M $503.1M
YoY Change -32.83% -34.37% 17.96%
Total Long-Term Liabilities $338.0M $3.276B $3.010B
YoY Change -88.77% 18.61% 345.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.057B $3.224B $3.272B
Total Long-Term Liabilities $338.0M $3.276B $3.010B
Total Liabilities $3.395B $6.500B $6.283B
YoY Change -45.96% 5.33% 60.19%
SHAREHOLDERS EQUITY
Retained Earnings $8.158B $8.059B $8.018B
YoY Change 1.74% 4.42% 4.17%
Common Stock $194.9M $194.9M $194.7M
YoY Change 0.14% 0.16% 0.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $963.0M $732.7M $235.9M
YoY Change 308.16% 189.84% 4988.93%
Treasury Stock Shares 15.50M shares 11.51M shares 3.710M shares
Shareholders Equity $8.304B $8.596B $9.138B
YoY Change
Total Liabilities & Shareholders Equity $17.55B $17.51B $17.75B
YoY Change -1.13% -0.08% 18.84%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income $155.3M $75.40M $360.6M
YoY Change -56.95% -52.49% 24.3%
Depreciation, Depletion And Amortization $396.2M $414.2M $363.1M
YoY Change 9.12% 23.2% 9.19%
Cash From Operating Activities $735.9M $775.1M $921.1M
YoY Change -20.11% -18.85% -7.05%
INVESTING ACTIVITIES
Capital Expenditures -$996.2M -$894.8M -$965.4M
YoY Change 3.19% -35.4% -270.19%
Acquisitions
YoY Change
Other Investing Activities $3.736M -$206.9M -$2.122M
YoY Change -276.06% -169.45% -45.44%
Cash From Investing Activities -$1.002B -$1.102B -$933.9M
YoY Change 7.28% 1.33% 77.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $250.0M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 166.4M 39.90M 196.2M
YoY Change -15.19% -84.83% -482.7%
NET CHANGE
Cash From Operating Activities 735.9M 775.1M 921.1M
Cash From Investing Activities -1.002B -1.102B -933.9M
Cash From Financing Activities 166.4M 39.90M 196.2M
Net Change In Cash -99.71M -286.7M 183.4M
YoY Change -154.38% -319.02% -55.74%
FREE CASH FLOW
Cash From Operating Activities $735.9M $775.1M $921.1M
Capital Expenditures -$996.2M -$894.8M -$965.4M
Free Cash Flow $1.732B $1.670B $1.887B
YoY Change -8.19% -28.64% 345.21%

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