2016 Q3 Form 10-Q Financial Statement

#000007014516000153 Filed on August 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q3
Revenue $292.5M $335.6M $301.1M
YoY Change -2.86% -1.24% -17.87%
Cost Of Revenue $800.0K $23.50M $5.300M
YoY Change -84.91% -12.96% -81.6%
Gross Profit $291.7M $312.1M $295.8M
YoY Change -1.39% -0.22% -12.43%
Gross Profit Margin 99.73% 93.0% 98.24%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $56.10M $58.80M $70.90M
YoY Change -20.87% -26.37% -31.76%
% of Gross Profit 19.23% 18.84% 23.97%
Operating Expenses $177.6M $290.5M $205.3M
YoY Change -13.49% -64.96% -12.93%
Operating Profit $81.24M $45.16M -$326.7M
YoY Change -124.87% -109.23% -420.31%
Interest Expense -$27.50M -$29.70M -$26.90M
YoY Change 2.23% 29.69% 33.17%
% of Operating Profit -33.85% -65.76%
Other Income/Expense, Net $2.900M $1.500M $3.400M
YoY Change -14.71% -28.57% 30.77%
Pretax Income $56.60M $17.03M -$350.2M
YoY Change -116.16% -103.34% -514.93%
Income Tax $19.10M $8.740M -$162.5M
% Of Pretax Income 33.75% 51.33%
Net Earnings $37.55M $8.286M -$187.7M
YoY Change -120.01% -102.83% -426.83%
Net Earnings / Revenue 12.84% 2.47% -62.34%
Basic Earnings Per Share $0.44 $0.10 -$2.22
Diluted Earnings Per Share $0.44 $0.10 -$2.22
COMMON SHARES
Basic Shares Outstanding 84.99M shares 84.92M shares 84.57M shares
Diluted Shares Outstanding 85.47M shares

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $130.0M $105.6M $113.6M
YoY Change 14.44% -65.94% 207.86%
Cash & Equivalents $130.0M $105.6M $113.6M
Short-Term Investments
Other Short-Term Assets $59.35M $47.12M $60.67M
YoY Change -2.16% -4.71% 10.8%
Inventory $68.20M $49.00M $64.70M
Prepaid Expenses
Receivables $133.2M $140.9M $105.0M
Other Receivables $15.70M $8.100M $0.00
Total Short-Term Assets $413.0M $361.1M $375.8M
YoY Change 9.91% -40.94% -0.41%
LONG-TERM ASSETS
Property, Plant & Equipment $4.454B $4.448B $5.332B
YoY Change -16.46% -18.86% -7.16%
Goodwill $5.476M $5.476M $5.476M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $110.7M $111.4M $93.00M
YoY Change 19.03% 25.17% 7.14%
Other Assets $604.0K $116.0K $167.0K
YoY Change 261.68% -32.56% -87.68%
Total Long-Term Assets $768.9M $732.3M $857.2M
YoY Change -10.31% -8.05% 41.08%
TOTAL ASSETS
Total Short-Term Assets $413.0M $361.1M $375.8M
Total Long-Term Assets $768.9M $732.3M $857.2M
Total Assets $5.636B $5.541B $6.565B
YoY Change -14.14% -19.57% -1.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $108.1M $86.49M $180.4M
YoY Change -40.1% -37.28% 31.98%
Accrued Expenses $32.91M $24.84M $30.70M
YoY Change 7.18% -9.64% -5.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $303.7M $276.3M $446.1M
YoY Change -31.92% -34.19% -9.06%
LONG-TERM LIABILITIES
Long-Term Debt $2.086B $2.086B $2.084B
YoY Change 0.11% -0.63% 26.38%
Other Long-Term Liabilities $895.6M $843.6M $871.4M
YoY Change 2.78% 6.15% 18.87%
Total Long-Term Liabilities $1.719B $1.652B $2.009B
YoY Change -14.43% -22.22% -8.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $303.7M $276.3M $446.1M
Total Long-Term Liabilities $1.719B $1.652B $2.009B
Total Liabilities $2.023B $1.928B $2.455B
YoY Change -17.61% -24.2% -8.37%
SHAREHOLDERS EQUITY
Retained Earnings $676.4M $673.3M $1.103B
YoY Change -38.69% -49.16% -31.66%
Common Stock $85.12M $84.95M $84.59M
YoY Change 0.62% 0.5% 0.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.527B $1.528B $2.025B
YoY Change
Total Liabilities & Shareholders Equity $5.636B $5.541B $6.565B
YoY Change -14.14% -19.57% -2.42%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q3
OPERATING ACTIVITIES
Net Income $37.55M $8.286M -$187.7M
YoY Change -120.01% -102.83% -426.83%
Depreciation, Depletion And Amortization $56.10M $58.80M $70.90M
YoY Change -20.87% -26.37% -31.76%
Cash From Operating Activities $129.0M $147.2M $141.0M
YoY Change -8.51% -28.23% -23.29%
INVESTING ACTIVITIES
Capital Expenditures -$99.80M -$122.8M -$299.2M
YoY Change -66.64% -45.59% -1.9%
Acquisitions
YoY Change
Other Investing Activities $24.00M $17.40M -$5.500M
YoY Change -536.36% 8600.0% -523.08%
Cash From Investing Activities -$75.80M -$105.4M -$304.8M
YoY Change -75.13% -53.24% 0.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.80M -29.90M -32.60M
YoY Change -11.66% -111.46% -160.26%
NET CHANGE
Cash From Operating Activities 129.0M 147.2M 141.0M
Cash From Investing Activities -75.80M -105.4M -304.8M
Cash From Financing Activities -28.80M -29.90M -32.60M
Net Change In Cash 24.40M 11.90M -196.4M
YoY Change -112.42% -95.05% 198.48%
FREE CASH FLOW
Cash From Operating Activities $129.0M $147.2M $141.0M
Capital Expenditures -$99.80M -$122.8M -$299.2M
Free Cash Flow $228.8M $270.0M $440.2M
YoY Change -48.02% -37.33% -9.94%

Facts In Submission

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us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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255000 USD
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us-gaap Gain Loss On Fair Value Hedges Recognized In Earnings
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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2686000 USD
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5510000 USD
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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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us-gaap Income Tax Reconciliation State And Local Income Taxes
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Receivables
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us-gaap Interest Income Domestic Deposits
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us-gaap Investment Tax Credit
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163000 USD
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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0 USD
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0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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0 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before 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 Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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OtherNonoperatingIncome
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0 USD
us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Repayments Of Short Term Debt
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0 USD
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8743000 USD
us-gaap Proceeds From Repurchase Of Equity
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us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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0 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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115235000 USD
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PropertyPlantAndEquipmentGross
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CY2016Q2 us-gaap Property Plant And Equipment Net
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4447754000 USD
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41700000 USD
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105004000 USD
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CY2015Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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29075000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2016Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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33859000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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108884000 USD
CY2015Q3 us-gaap Refundable Gas Costs
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56778000 USD
CY2016Q2 us-gaap Refundable Gas Costs
RefundableGasCosts
35441000 USD
CY2015Q3 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
20438000 USD
CY2016Q2 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
13287000 USD
CY2015Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
278227000 USD
CY2016Q2 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
269343000 USD
CY2015Q3 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
5346000 USD
CY2016Q2 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
22138000 USD
CY2015Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
108617000 USD
CY2016Q2 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
102018000 USD
us-gaap Remaining Recovery Period Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided1
RemainingRecoveryPeriodOfRegulatoryAssetsForWhichNoReturnOnInvestmentDuringRecoveryPeriodIsProvided1
P11Y
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1614361000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1650840000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1324318000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1103200000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
699399000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
673281000 USD
CY2015Q2 us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
339815000 USD
us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
1459851000 USD
CY2016Q2 us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
335617000 USD
us-gaap Sales Revenue Goods Gross
SalesRevenueGoodsGross
1159943000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8383000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3138000 USD
CY2015Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2016Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
102139 shares
us-gaap Stock Issued During Period Shares Employee Benefit Plan
StockIssuedDuringPeriodSharesEmployeeBenefitPlan
92756 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
172574 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
59278 shares
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2025440000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1527642000 USD
CY2015Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
22717000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
68561000 USD
CY2016Q2 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
20261000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
61923000 USD
us-gaap Unrealized Gain Loss On Price Risk Cash Flow Derivatives Before Tax
UnrealizedGainLossOnPriceRiskCashFlowDerivativesBeforeTax
124200000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
3100000 USD
CY2015Q3 us-gaap Unrecovered Costs For Purchased Gas Amount
UnrecoveredCostsForPurchasedGasAmount
0 USD
CY2016Q2 us-gaap Unrecovered Costs For Purchased Gas Amount
UnrecoveredCostsForPurchasedGasAmount
933000 USD
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
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85470216 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84791447 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
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84917664 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84791447 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassification.</font><font style="font-family:inherit;font-size:10pt;"> Due to the adoption of the authoritative guidance regarding the presentation of deferred income taxes, certain prior year amounts have been reclassified to conform with current year presentation. The Company reclassified Deferred Income Taxes of </font><font style="font-family:inherit;font-size:10pt;">$137.2 million</font><font style="font-family:inherit;font-size:10pt;"> previously shown as Current Assets in the Company's 2015 Form 10-K to Deferred Income Taxes shown as Deferred Credits on the Consolidated Balance Sheet at September 30, 2015.</font></div></div>

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