2017 Q3 Form 10-Q Financial Statement

#000101387117000027 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $2.618B $3.421B
YoY Change -23.47% -22.85%
Cost Of Revenue $2.072B $2.440B
YoY Change -15.08% -19.79%
Gross Profit $546.0M $981.0M
YoY Change -44.34% -29.53%
Gross Profit Margin 20.86% 28.68%
Selling, General & Admin $190.0M $277.0M
YoY Change -31.41% -15.29%
% of Gross Profit 34.8% 28.24%
Research & Development $6.000M $21.00M
YoY Change -71.43% -44.74%
% of Gross Profit 1.1% 2.14%
Depreciation & Amortization $163.0M $298.0M
YoY Change -45.3% -21.99%
% of Gross Profit 29.85% 30.38%
Operating Expenses $196.0M $298.0M
YoY Change -34.23% -18.36%
Operating Profit $275.0M $429.0M
YoY Change -35.9% 13.19%
Interest Expense $139.0M $237.0M
YoY Change -41.35% -18.56%
% of Operating Profit 50.55% 55.24%
Other Income/Expense, Net -$111.0M -$272.0M
YoY Change -59.19% 2.64%
Pretax Income $186.0M $156.0M
YoY Change 19.23% 36.84%
Income Tax $1.000M $28.00M
% Of Pretax Income 0.54% 17.95%
Net Earnings $171.0M $402.0M
YoY Change -57.46% 509.09%
Net Earnings / Revenue 6.53% 11.75%
Basic Earnings Per Share $0.54 $1.27
Diluted Earnings Per Share $0.53 $1.27
COMMON SHARES
Basic Shares Outstanding 317.0M shares 316.0M shares
Diluted Shares Outstanding 322.0M shares 317.0M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.223B $2.435B
YoY Change -49.77% 7.51%
Cash & Equivalents $1.022B $1.217B
Short-Term Investments
Other Short-Term Assets $1.633B $2.166B
YoY Change -24.61% -31.04%
Inventory $630.0M $1.017B
Prepaid Expenses
Receivables $1.274B $1.362B
Other Receivables $0.00 $34.00M
Total Short-Term Assets $4.760B $7.014B
YoY Change -32.14% -13.12%
LONG-TERM ASSETS
Property, Plant & Equipment $15.33B $18.20B
YoY Change -15.77% -17.2%
Goodwill $662.0M $999.0M
YoY Change -33.73% -60.09%
Intangibles
YoY Change
Long-Term Investments $1.138B $900.0M
YoY Change 26.44% -15.73%
Other Assets $644.0M $1.198B
YoY Change -46.24% -15.99%
Total Long-Term Assets $5.378B $6.274B
YoY Change -14.28% -36.82%
TOTAL ASSETS
Total Short-Term Assets $4.760B $7.014B
Total Long-Term Assets $5.378B $6.274B
Total Assets $25.47B $31.49B
YoY Change -19.12% -21.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $915.0M $945.0M
YoY Change -3.17% -19.44%
Accrued Expenses $994.0M $1.150B
YoY Change -13.57% -5.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.247B $1.221B
YoY Change 2.13% 167.18%
Total Short-Term Liabilities $3.705B $4.301B
YoY Change -13.86% -0.81%
LONG-TERM LIABILITIES
Long-Term Debt $15.66B $18.02B
YoY Change -13.1% -8.06%
Other Long-Term Liabilities $1.116B $1.480B
YoY Change -24.59% 0.14%
Total Long-Term Liabilities $17.99B $21.68B
YoY Change -17.01% -7.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.705B $4.301B
Total Long-Term Liabilities $17.99B $21.68B
Total Liabilities $21.70B $25.98B
YoY Change -16.49% -6.62%
SHAREHOLDERS EQUITY
Retained Earnings -$4.713B -$2.791B
YoY Change 68.86% -183.11%
Common Stock $8.373B $8.374B
YoY Change -0.01% -0.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.386B $2.399B
YoY Change -0.54% 2.96%
Treasury Stock Shares 101.6M shares 102.1M shares
Shareholders Equity $1.183B $3.042B
YoY Change
Total Liabilities & Shareholders Equity $25.47B $31.49B
YoY Change -19.12% -21.25%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $171.0M $402.0M
YoY Change -57.46% 509.09%
Depreciation, Depletion And Amortization $163.0M $298.0M
YoY Change -45.3% -21.99%
Cash From Operating Activities $768.0M $386.0M
YoY Change 98.96% -58.67%
INVESTING ACTIVITIES
Capital Expenditures $370.0M -$217.0M
YoY Change -270.51% -29.08%
Acquisitions
YoY Change
Other Investing Activities -$247.0M $432.0M
YoY Change -157.18% -754.55%
Cash From Investing Activities $123.0M $215.0M
YoY Change -42.79% -157.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -232.0M -57.00M
YoY Change 307.02% -87.47%
NET CHANGE
Cash From Operating Activities 768.0M 386.0M
Cash From Investing Activities 123.0M 215.0M
Cash From Financing Activities -232.0M -57.00M
Net Change In Cash 659.0M 544.0M
YoY Change 21.14% 408.41%
FREE CASH FLOW
Cash From Operating Activities $768.0M $386.0M
Capital Expenditures $370.0M -$217.0M
Free Cash Flow $398.0M $603.0M
YoY Change -34.0% -51.37%

Facts In Submission

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322000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
317000000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
316000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
315000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
317000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
317000000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified for comparative purposes. The reclassifications did not affect results from operations, net assets or cash flows.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:30px;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-bottom:12px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. </font></div></div>

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