2015 Q3 Form 10-Q Financial Statement

#000007014515000048 Filed on August 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q3
Revenue $301.1M $339.8M $366.6M
YoY Change -17.87% -22.79% 8.17%
Cost Of Revenue $5.300M $27.00M $28.80M
YoY Change -81.6% -68.82% -14.03%
Gross Profit $295.8M $312.8M $337.8M
YoY Change -12.43% -11.51% 10.61%
Gross Profit Margin 98.24% 92.05% 92.14%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.90M $79.87M $103.9M
YoY Change -31.76% -17.48% 20.39%
% of Gross Profit 23.97% 25.53% 30.76%
Operating Expenses $205.3M $829.0M $235.8M
YoY Change -12.93% 164.75% 12.99%
Operating Profit -$326.7M -$489.2M $102.0M
YoY Change -420.31% -485.17% 5.55%
Interest Expense -$26.90M -$22.90M -$20.20M
YoY Change 33.17% 0.0% -6.05%
% of Operating Profit -19.8%
Other Income/Expense, Net $3.400M $2.100M $2.600M
YoY Change 30.77% 40.0% 160.0%
Pretax Income -$350.2M -$510.0M $84.40M
YoY Change -514.93% -582.87% 10.76%
Income Tax -$162.5M -$216.9M $27.00M
% Of Pretax Income 31.99%
Net Earnings -$187.7M -$293.1M $57.43M
YoY Change -426.83% -554.33% 20.04%
Net Earnings / Revenue -62.34% -86.27% 15.67%
Basic Earnings Per Share -$2.22 -$3.47 $0.68
Diluted Earnings Per Share -$2.22 -$3.44 $0.68
COMMON SHARES
Basic Shares Outstanding 84.57M shares 84.45M shares 84.12M shares
Diluted Shares Outstanding 85.25M shares

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $113.6M $310.0M $36.90M
YoY Change 207.86% 201.85% -43.14%
Cash & Equivalents $113.6M $310.0M $36.89M
Short-Term Investments
Other Short-Term Assets $60.67M $49.45M $54.75M
YoY Change 10.8% 0.07% -3.78%
Inventory $64.70M $47.80M $67.20M
Prepaid Expenses
Receivables $105.0M $135.4M $149.7M
Other Receivables $0.00 $0.00 $8.200M
Total Short-Term Assets $375.8M $611.5M $377.3M
YoY Change -0.41% 30.19% -15.9%
LONG-TERM ASSETS
Property, Plant & Equipment $5.332B $5.482B $5.743B
YoY Change -7.16% -1.01% 11.48%
Goodwill $5.476M $5.476M $5.476M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $93.00M $89.00M $86.80M
YoY Change 7.14% 1.25% -9.87%
Other Assets $167.0K $172.0K $1.355M
YoY Change -87.68% -72.83% -44.63%
Total Long-Term Assets $857.2M $796.5M $607.6M
YoY Change 41.08% 37.04% -1.67%
TOTAL ASSETS
Total Short-Term Assets $375.8M $611.5M $377.3M
Total Long-Term Assets $857.2M $796.5M $607.6M
Total Assets $6.565B $6.890B $6.688B
YoY Change -1.84% 4.57% 7.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $180.4M $137.9M $136.7M
YoY Change 31.98% -5.14% 29.82%
Accrued Expenses $30.70M $27.49M $32.45M
YoY Change -5.4% 31.66% 42.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $85.60M
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $446.1M $419.9M $490.6M
YoY Change -9.06% -1.84% 62.35%
LONG-TERM LIABILITIES
Long-Term Debt $2.084B $2.099B $1.649B
YoY Change 26.38% 27.29% 0.0%
Other Long-Term Liabilities $871.4M $794.7M $733.1M
YoY Change 18.87% 4.43% 1.06%
Total Long-Term Liabilities $2.009B $2.123B $2.189B
YoY Change -8.22% -2.19% 5.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $446.1M $419.9M $490.6M
Total Long-Term Liabilities $2.009B $2.123B $2.189B
Total Liabilities $2.455B $2.543B $2.680B
YoY Change -8.37% -2.13% 12.86%
SHAREHOLDERS EQUITY
Retained Earnings $1.103B $1.324B $1.614B
YoY Change -31.66% -16.67% 11.91%
Common Stock $84.59M $84.53M $84.16M
YoY Change 0.52% 0.53% 0.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.025B $2.247B $2.411B
YoY Change
Total Liabilities & Shareholders Equity $6.565B $6.890B $6.728B
YoY Change -2.42% 4.57% 8.2%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q3
OPERATING ACTIVITIES
Net Income -$187.7M -$293.1M $57.43M
YoY Change -426.83% -554.33% 20.04%
Depreciation, Depletion And Amortization $70.90M $79.87M $103.9M
YoY Change -31.76% -17.48% 20.39%
Cash From Operating Activities $141.0M $205.1M $183.8M
YoY Change -23.29% -7.78% 21.4%
INVESTING ACTIVITIES
Capital Expenditures -$299.2M -$225.7M -$305.0M
YoY Change -1.9% -6.74% 60.44%
Acquisitions
YoY Change
Other Investing Activities -$5.500M $200.0K $1.300M
YoY Change -523.08% -200.0% -7.14%
Cash From Investing Activities -$304.8M -$225.4M -$303.7M
YoY Change 0.36% -6.94% 60.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -32.60M 260.8M 54.10M
YoY Change -160.26% -1024.82% -267.49%
NET CHANGE
Cash From Operating Activities 141.0M 205.1M 183.8M
Cash From Investing Activities -304.8M -225.4M -303.7M
Cash From Financing Activities -32.60M 260.8M 54.10M
Net Change In Cash -196.4M 240.5M -65.80M
YoY Change 198.48% -601.04% -5.46%
FREE CASH FLOW
Cash From Operating Activities $141.0M $205.1M $183.8M
Capital Expenditures -$299.2M -$225.7M -$305.0M
Free Cash Flow $440.2M $430.8M $488.8M
YoY Change -9.94% -7.24% 43.13%

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us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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us-gaap Gain Loss On Fair Value Hedges Recognized In Earnings
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us-gaap Income Tax Expense Benefit
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5483000 USD
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2686000 USD
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141499000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation State And Local Income Taxes
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26285000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
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us-gaap Increase Decrease In Regulatory Clause Revenue
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us-gaap Investment Tax Credit
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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us-gaap Unrealized Gain Loss On Price Risk Cash Flow Derivatives Before Tax
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242400000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2015Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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74463000 USD
CY2014Q3 us-gaap Refundable Gas Costs
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CY2014Q3 us-gaap Regulatory Liability Current
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18072000 USD
CY2015Q2 us-gaap Regulatory Liability Current
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5556000 USD
CY2014Q3 us-gaap Regulatory Liability Noncurrent
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CY2015Q2 us-gaap Regulatory Liability Noncurrent
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126371000 USD
us-gaap Remaining Recovery Period Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided1
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P12Y
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
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1614361000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
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1650840000 USD
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1324318000 USD
CY2014Q2 us-gaap Sales Revenue Goods Gross
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440144000 USD
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1746458000 USD
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339815000 USD
us-gaap Sales Revenue Goods Gross
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1459851000 USD
us-gaap Share Based Compensation
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12438000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8383000 USD
CY2014Q3 us-gaap Short Term Borrowings
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85600000 USD
CY2015Q2 us-gaap Short Term Borrowings
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0 USD
CY2015Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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5100000 USD
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
66406 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
202023 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
50200 shares
CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2410683000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2247358000 USD
CY2014Q2 us-gaap Taxes Excluding Income And Excise Taxes
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22483000 USD
us-gaap Taxes Excluding Income And Excise Taxes
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69114000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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5100000 USD
CY2014Q2 us-gaap Utilities Operating Expense Maintenance And Operations
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107232000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
352794000 USD
CY2015Q2 us-gaap Utilities Operating Expense Maintenance And Operations
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110697000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
356525000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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84973100 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84892473 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85248281 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85237514 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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84029124 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83863764 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84453602 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84326182 shares

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