2017 Q4 Form 10-K Financial Statement

#000128846919000006 Filed on February 05, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $113.7M $113.6M $104.2M
YoY Change 30.51% 17.92% 2.45%
Cost Of Revenue $61.60M $61.74M $53.07M
YoY Change 67.85% 51.25% 36.87%
Gross Profit $52.09M $51.84M $51.10M
YoY Change 3.35% -6.6% -18.77%
Gross Profit Margin 45.81% 45.64% 49.06%
Selling, General & Admin $18.10M $29.04M $31.34M
YoY Change 8.38% 64.81% 89.87%
% of Gross Profit 34.75% 56.01% 61.32%
Research & Development $30.00M $29.27M $29.02M
YoY Change 25.0% 12.92% 20.71%
% of Gross Profit 57.59% 56.46% 56.78%
Depreciation & Amortization $20.20M $3.400M $3.600M
YoY Change 152.5% 13.33% 125.0%
% of Gross Profit 38.78% 6.56% 7.04%
Operating Expenses $57.00M $62.49M $66.90M
YoY Change 39.71% 39.35% 65.01%
Operating Profit -$4.907M -$10.64M -$15.80M
YoY Change -151.1% -199.8% -170.6%
Interest Expense -$4.000M $4.133M $2.201M
YoY Change -4100.0%
% of Operating Profit
Other Income/Expense, Net -$800.0K -$4.800M -$2.755M
YoY Change -900.0% -4948.48% -1046.74%
Pretax Income -$10.50M -$15.44M -$18.55M
YoY Change -222.09% -243.48% -181.86%
Income Tax -$7.500M -$6.276M -$29.52M
% Of Pretax Income
Net Earnings -$19.45M -$9.167M $10.97M
YoY Change -332.97% -194.71% -51.45%
Net Earnings / Revenue -17.1% -8.07% 10.53%
Basic Earnings Per Share -$0.29 -$0.14 $0.17
Diluted Earnings Per Share -$0.29 -$0.14 $0.16
COMMON SHARES
Basic Shares Outstanding 66.96M shares 66.71M shares 65.89M shares
Diluted Shares Outstanding 66.71M shares 69.65M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.90M $71.60M $87.60M
YoY Change -44.26% -27.09% -50.37%
Cash & Equivalents $71.87M $71.58M $87.57M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $9.900M $8.500M $10.30M
YoY Change 45.59% 25.0% 106.0%
Inventory $53.43M $63.69M $77.56M
Prepaid Expenses
Receivables $66.10M $75.62M $82.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $201.3M $219.4M $258.2M
YoY Change -5.42% 17.43% 2.69%
LONG-TERM ASSETS
Property, Plant & Equipment $22.66M $23.34M $24.47M
YoY Change 10.26% 6.31% 15.78%
Goodwill $238.0M $239.7M $238.8M
YoY Change 213.09% 216.22% 321.13%
Intangibles $315.0M $332.4M $353.5M
YoY Change 202.17% 202.51% 482.65%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $6.921M $6.288M $6.841M
YoY Change 312.7% 233.94% 245.16%
Total Long-Term Assets $623.6M $657.6M $679.5M
YoY Change 197.21% 196.84% 383.58%
TOTAL ASSETS
Total Short-Term Assets $201.3M $219.4M $258.2M
Total Long-Term Assets $623.6M $657.6M $679.5M
Total Assets $824.9M $877.0M $937.6M
YoY Change 95.16% 114.76% 139.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.94M $14.08M $21.36M
YoY Change 150.69% 99.43% 163.24%
Accrued Expenses $20.31M $27.02M $38.61M
YoY Change 24.13% 61.99% 194.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M
YoY Change
Total Short-Term Liabilities $76.39M $98.38M $110.2M
YoY Change 40.05% 80.55% 98.12%
LONG-TERM LIABILITIES
Long-Term Debt $347.6M $367.3M $415.0M
YoY Change
Other Long-Term Liabilities $8.558M $9.598M $9.409M
YoY Change 41.95% 68.03% 85.8%
Total Long-Term Liabilities $356.2M $376.9M $424.4M
YoY Change 5807.56% 6498.74% 8281.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $76.39M $98.38M $110.2M
Total Long-Term Liabilities $356.2M $376.9M $424.4M
Total Liabilities $437.4M $480.4M $539.7M
YoY Change 522.88% 697.91% 789.39%
SHAREHOLDERS EQUITY
Retained Earnings -$69.12M -$49.67M -$40.50M
YoY Change 15.33% -27.25% -48.04%
Common Stock $455.5M $446.5M $439.0M
YoY Change 10.05% 9.45% 9.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $387.4M $396.6M $397.9M
YoY Change
Total Liabilities & Shareholders Equity $824.9M $877.0M $937.6M
YoY Change 95.16% 114.76% 139.24%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income -$19.45M -$9.167M $10.97M
YoY Change -332.97% -194.71% -51.45%
Depreciation, Depletion And Amortization $20.20M $3.400M $3.600M
YoY Change 152.5% 13.33% 125.0%
Cash From Operating Activities $21.80M $37.70M -$7.100M
YoY Change -21.01% 104.89% -121.98%
INVESTING ACTIVITIES
Capital Expenditures -$3.100M -$2.600M -$479.6M
YoY Change 82.35% -96.83% 1994.32%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $63.80M
YoY Change -100.0% -100.0% 4.25%
Cash From Investing Activities -$3.100M -$2.500M -$415.9M
YoY Change 106.67% -97.67% -1185.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.80M -50.30M 421.0M
YoY Change -1980.0% 1995.83% 420900.0%
NET CHANGE
Cash From Operating Activities 21.80M 37.70M -7.100M
Cash From Investing Activities -3.100M -2.500M -415.9M
Cash From Financing Activities -18.80M -50.30M 421.0M
Net Change In Cash -100.0K -15.10M -2.000M
YoY Change -100.37% -83.48% -102.83%
FREE CASH FLOW
Cash From Operating Activities $21.80M $37.70M -$7.100M
Capital Expenditures -$3.100M -$2.600M -$479.6M
Free Cash Flow $24.90M $40.30M $472.5M
YoY Change -15.02% -59.9% 755.98%

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1784000 USD
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1640000 USD
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2297000 USD
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CY2018 us-gaap Current State And Local Tax Expense Benefit
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P7Y
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101000 USD
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2504000 USD
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2550000 USD
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436000 USD
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15005000 USD
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4500000 USD
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5700000 USD
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11900000 USD
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7800000 USD
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8291000 USD
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8559000 USD
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2028000 USD
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734000 USD
CY2018 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Other Comprehensive Income Loss
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889000 USD
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9469000 USD
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216000 USD
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809000 USD
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50000 USD
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0 USD
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-168000 USD
CY2018 us-gaap Gain Loss On Sale Of Property Plant Equipment
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2198000 USD
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0 USD
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0 USD
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388000 USD
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0 USD
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735000 USD
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75778000 USD
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42580000 USD
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63690000 USD
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1100000 USD
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2398000 USD
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-6661000 USD
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-5727000 USD
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0 USD
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25205000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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185000 USD
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2888000 USD
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23666000 USD
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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8640000 USD
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22294000 USD
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1730000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
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1319000 USD
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-11899000 USD
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-6814000 USD
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-802000 USD
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-5756000 USD
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-5713000 USD
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74000 USD
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0 USD
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
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1257000 USD
CY2018 us-gaap Income Tax Reconciliation Other Reconciling Items
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0 USD
CY2016 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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0 USD
CY2017 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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1368000 USD
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1960000 USD
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17000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
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20000 USD
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-1204000 USD
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IncomeTaxReconciliationTaxContingencies
1993000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Contingencies
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1463000 USD
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72000 USD
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5000 USD
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0 USD
CY2016 us-gaap Income Tax Reconciliation Tax Credits Research
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9076000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
8153000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Credits Research
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8849000 USD
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1583000 USD
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9435000 USD
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IncomeTaxesPaid
5426000 USD
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3249000 USD
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-1918000 USD
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1161000 USD
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8175000 USD
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4377000 USD
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5609000 USD
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1567000 USD
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8961000 USD
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1788000 USD
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8100000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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16300000 USD
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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6500000 USD
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P2Y10M3D
CY2018 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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4452000 USD
CY2016 us-gaap Stock Repurchased During Period Value
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3000 USD
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334000 USD
CY2015Q4 us-gaap Stockholders Equity
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262924000 USD
CY2016Q4 us-gaap Stockholders Equity
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352424000 USD
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387424000 USD
CY2018Q4 us-gaap Stockholders Equity
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399936000 USD
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0 USD
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CY2018 us-gaap Tax Adjustments Settlements And Unusual Provisions
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-27000 USD
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
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0 USD
CY2018Q4 us-gaap Taxes Payable Current And Noncurrent
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1642000 USD
CY2017Q1 us-gaap Treasury Stock Shares Retired
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65445853 shares
CY2015Q4 us-gaap Unrecognized Tax Benefits
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26053000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
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23417000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
63086000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
61500000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
61500000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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4661000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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458000 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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4696000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
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37090000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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2025000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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3037000 USD
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3080000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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52200000 USD
CY2016 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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6661000 USD
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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51177000 USD
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
5727000 USD
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3872000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67653000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66252000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68490000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63781000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66252000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68490000 shares
CY2018 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recently Issued Accounting Pronouncements</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU No. 2016-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases (Topic 842). </font><font style="font-family:inherit;font-size:10pt;">The amendments in this update require a lessee to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term for all leases with terms greater than twelve months. For leases less than twelve months, an entity is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The Company intends to make this election, along with other available practical expedients. Also, in July 2018, the FASB issued ASU No. 2018-11, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases (Topic 842): Targeted Improvements</font><font style="font-family:inherit;font-size:10pt;">, to provide an additional transition method. An entity can now elect not to present comparative financial information under Topic 842 if it recognizes a cumulative-effect adjustment to retained earnings upon adoption. The Company also intends to make this election. The amendments in these update are effective for the Company for fiscal years beginning with 2019, including interim periods within those years, with early adoption permitted. The Company has performed an assessment of the impact of the adoption of the amendments in these updates on the Company's consolidated financial position and results of operations for the Company's leases, which primarily consist of facility leases. Based on that assessment, the Company has estimated that the adoption of Topic 842 will result in the recognition of approximately </font><font style="font-family:inherit;font-size:10pt;">$24 million</font><font style="font-family:inherit;font-size:10pt;"> of right-of-use assets and lease liabilities as of January 1, 2019 based on the present value of future minimum lease payments. Also, the impacts from the adoption of Topic 842 to the Company's accumulated deficit as of January 1, 2019 and to consolidated results of operations for the year ending December 31, 2019 are not expected to be material.</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU No. 2017-04, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles&#8212;Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment</font><font style="font-family:inherit;font-size:10pt;">, to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. An entity no longer will determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if the reporting unit had been acquired in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The Board also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. The amendments in this update are effective for the Company beginning with fiscal year 2020, including interim periods, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of the amendments in this update is not expected to have a material impact on the Company's consolidated financial position and results of operations.</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2018, the FASB issued ASU No. 2018-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Codification Improvements</font><font style="font-family:inherit;font-size:10pt;">, to clarify the Codification and prevent unintended application of the guidance. An amendment to ASC 718-740, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation&#8212;Stock Compensation&#8212;Income Taxes</font><font style="font-family:inherit;font-size:10pt;">, clarifies that excess tax benefits should be recognized in the period in which the amount of the deduction is determined. The transition and effective date guidance is based on the facts and circumstances of each amendment. The amendment identified above will be effective for the Company beginning with fiscal year 2019. The adoption of the amendments in this update is not expected to have a material impact on the Company's consolidated financial position and results of operations.</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2017, the FASB issued ASU 2017-12,&#160;Derivatives and Hedging (Topic 815), which is intended to improve accounting for hedging activities by expanding and refining hedge accounting for both nonfinancial and financial risk components and aligning the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The amendments in this update are effective for us for fiscal years beginning with fiscal year 2019, including interim periods within those years, with early adoption permitted in any interim period. The amendments in this update should be applied prospectively. We are currently evaluating the expected impact of the amendments, but do not expect these to have a material impact on our consolidated financial statements upon adoption.</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2018, the FASB issued ASU No. 2018-10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Codification Improvements to Topic 842, Leases</font><font style="font-family:inherit;font-size:10pt;">, to clarify on how to apply certain aspects of the new lease accounting standard. The amendments in this update, among other things, better articulates the requirement for a lessee's reassessment of lease classification as of the effective date of a modification, clarifies that a change to an index or rate for variable lease payments does not constitute a resolution of a contingency that would result in the remeasurement of lease payments, and requires entities that apply Topic 842 retrospectively to each reporting period and do not adopt the practical expedients to write off any prior unamortized initial direct costs that do not meet the definition under Topic 842 to equity. The amendments in this update have the same effective date and transition requirements as the new lease standard summarized above. The Company has disclosed the impact of adoption of Topic 842 on the Company&#8217;s consolidated financial position and results of operations as stated above. </font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> In August 2018, the FASB issued ASU No. 2018-13, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement (Topic 820): Disclosure Framework&#8212; Changes to the Disclosure Requirements for Fair Value Measurement</font><font style="font-family:inherit;font-size:10pt;">,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">to improve the fair value measurement reporting of financial instruments. The amendments in this update require, among other things, added disclosure of the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this update eliminate, among other things, disclosure of the reasons for and amounts of transfers between Level 1 and Level 2 for assets and liabilities that are measured at fair value on a recurring basis and an entity's valuation processes for Level 3 fair value measurements. The amendments in this update will be effective for the Company beginning with fiscal year 2020, with early adoption permitted. Retrospective application is required for all amendments in this update except the added disclosures, which should be applied prospectively. The adoption of the amendments in this update is not expected to have a material impact on the Company's consolidated financial position and results of operations.</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU No. 2018-15, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles- Goodwill and Other&#8212;Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract</font><font style="font-family:inherit;font-size:10pt;">, to provide additional guidance on the accounting for costs of implementing cloud computing arrangements that are service contracts. The amendments in this update require the capitalization of implementation costs during the application development stage of such hosting arrangements and amortization of the expense over the term of the arrangement including any option to extend reasonably certain to be exercised or option to terminate reasonably certain not to be exercised. Capitalized implementation costs and amortization thereof are also required to be classified in the same line item in the statements of financial position, operations and cash flows associated with the hosting service fees. The amendments in this update will be effective for the Company beginning with fiscal year 2020, with early adoption permitted. Entities may select retrospective or prospective application to all implementation costs incurred after the adoption date. The adoption of the amendments in this update is not expected to have a material impact on the Company's consolidated financial position and results of operations.</font></div></div>
CY2018 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MaxLinear, Inc. was incorporated in Delaware in September 2003. MaxLinear, Inc., together with its wholly owned subsidiaries, collectively referred to as MaxLinear, or the Company, is a provider of radio-frequency, or RF, high-performance analog, and mixed-signal communications system-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications. MaxLinear's customers include electronics distributors, module makers, original equipment manufacturers, or OEMs, and original design manufacturers, or ODMs, who incorporate the Company&#8217;s products in a wide range of electronic devices, including cable DOCSIS broadband modems and gateways, wireline connectivity devices for in-home networking applications, RF transceivers and modems for wireless carrier access and backhaul infrastructure, fiber-optic modules for data center, metro, and long-haul transport networks, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products used in these and a range of other markets. The Company is a fabless integrated circuit design company whose products integrate all or a substantial portion of a broadband communication system.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes of the consolidated financial statements. Actual results could differ from those estimates.</font></div></div>

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