2016 Q2 Form 10-Q Financial Statement

#000070216516000284 Filed on July 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $2.454B $2.713B
YoY Change -9.55% -10.82%
Cost Of Revenue $1.352B $1.652B
YoY Change -18.16% -7.45%
Gross Profit $1.102B $1.061B
YoY Change 3.86% -15.59%
Gross Profit Margin 44.91% 39.11%
Selling, General & Admin $75.00M
YoY Change
% of Gross Profit 6.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $258.0M $248.0M
YoY Change 4.03% 3.33%
% of Gross Profit 23.41% 23.37%
Operating Expenses $1.684B $1.899B
YoY Change -11.32% -6.13%
Operating Profit $770.0M $814.0M
YoY Change -5.41% -20.12%
Interest Expense $138.0M $134.0M
YoY Change 2.99% -3.6%
% of Operating Profit 17.92% 16.46%
Other Income/Expense, Net $4.000M $19.00M
YoY Change -78.95% 5.56%
Pretax Income $636.0M $699.0M
YoY Change -9.01% -22.16%
Income Tax $231.0M $266.0M
% Of Pretax Income 36.32% 38.05%
Net Earnings $405.0M $433.0M
YoY Change -6.47% -22.95%
Net Earnings / Revenue 16.5% 15.96%
Basic Earnings Per Share $1.37 $1.43
Diluted Earnings Per Share $1.36 $1.41
COMMON SHARES
Basic Shares Outstanding 294.7M shares 302.9M shares
Diluted Shares Outstanding 296.6M shares 305.5M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $866.0M $889.0M
YoY Change -2.59% -46.67%
Cash & Equivalents $866.0M $889.0M
Short-Term Investments
Other Short-Term Assets $82.00M $67.00M
YoY Change 22.39% -70.35%
Inventory $306.0M $277.0M
Prepaid Expenses
Receivables $985.0M $1.055B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.239B $2.413B
YoY Change -7.21% -26.12%
LONG-TERM ASSETS
Property, Plant & Equipment $29.39B $28.08B
YoY Change 4.67% 4.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.639B $2.724B
YoY Change -3.12% 8.74%
Other Assets $69.00M $98.00M
YoY Change -29.59% -71.35%
Total Long-Term Assets $32.10B $30.90B
YoY Change 3.88% 3.77%
TOTAL ASSETS
Total Short-Term Assets $2.239B $2.413B
Total Long-Term Assets $32.10B $30.90B
Total Assets $34.33B $33.31B
YoY Change 3.07% 0.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.085B $1.144B
YoY Change -5.16% -8.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $550.0M $500.0M
YoY Change 10.0% 15.47%
Total Short-Term Liabilities $2.107B $2.203B
YoY Change -4.36% -6.97%
LONG-TERM LIABILITIES
Long-Term Debt $9.549B $8.890B
YoY Change 7.41% 0.86%
Other Long-Term Liabilities $1.358B $1.322B
YoY Change 2.72% 17.83%
Total Long-Term Liabilities $1.358B $1.322B
YoY Change 2.72% -86.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.107B $2.203B
Total Long-Term Liabilities $1.358B $1.322B
Total Liabilities $22.06B $21.23B
YoY Change 3.9% 1.29%
SHAREHOLDERS EQUITY
Retained Earnings $10.27B $10.02B
YoY Change 2.52%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $19.00M $19.00M
YoY Change 0.0%
Treasury Stock Shares 20.32M shares
Shareholders Equity $12.27B $12.08B
YoY Change
Total Liabilities & Shareholders Equity $34.33B $33.31B
YoY Change 3.07% 0.82%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $405.0M $433.0M
YoY Change -6.47% -22.95%
Depreciation, Depletion And Amortization $258.0M $248.0M
YoY Change 4.03% 3.33%
Cash From Operating Activities $553.0M $868.0M
YoY Change -36.29% 2.24%
INVESTING ACTIVITIES
Capital Expenditures -$534.0M -$494.0M
YoY Change 8.1% 15.42%
Acquisitions
YoY Change
Other Investing Activities $30.00M $20.00M
YoY Change 50.0% -42.86%
Cash From Investing Activities -$504.0M -$474.0M
YoY Change 6.33% 20.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 228.0M -29.00M
YoY Change -886.21% -90.68%
NET CHANGE
Cash From Operating Activities 553.0M 868.0M
Cash From Investing Activities -504.0M -474.0M
Cash From Financing Activities 228.0M -29.00M
Net Change In Cash 277.0M 365.0M
YoY Change -24.11% 151.72%
FREE CASH FLOW
Cash From Operating Activities $553.0M $868.0M
Capital Expenditures -$534.0M -$494.0M
Free Cash Flow $1.087B $1.362B
YoY Change -20.19% 6.66%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Before Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2015Q1 us-gaap Other Comprehensive Income Loss Tax
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CY2015Q2 us-gaap Other Comprehensive Income Loss Tax
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us-gaap Other Comprehensive Income Loss Tax
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us-gaap Other Comprehensive Income Loss Tax
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CY2015Q4 us-gaap Other Liabilities Current
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CY2015Q4 us-gaap Other Liabilities Noncurrent
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CY2016Q2 us-gaap Other Liabilities Noncurrent
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CY2015Q2 us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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CY2016Q2 us-gaap Other Nonoperating Income Expense
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us-gaap Other Operating Activities Cash Flow Statement
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CY2015Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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3000000 USD
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1000000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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2000000 USD
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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2000000 USD
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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2000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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400000000 USD
us-gaap Payments Of Dividends Common Stock
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360000000 USD
us-gaap Payments Of Dividends Common Stock
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350000000 USD
us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Debt Net Of Issuance Costs
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us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
594000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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32000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
40000000 USD
CY2015Q2 us-gaap Profit Loss
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433000000 USD
us-gaap Profit Loss
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743000000 USD
CY2016Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Property Plant And Equipment
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CY2015Q4 us-gaap Property Plant And Equipment Net
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CY2016Q2 us-gaap Property Plant And Equipment Net
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CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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us-gaap Repayments Of Debt And Capital Lease Obligations
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us-gaap Repayments Of Debt And Capital Lease Obligations
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600000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
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10269000000 USD
CY2015Q2 us-gaap Revenues
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2713000000 USD
us-gaap Revenues
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5280000000 USD
CY2016Q2 us-gaap Revenues
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2454000000 USD
us-gaap Revenues
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4874000000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0200
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.27
CY2015Q4 us-gaap Short Term Borrowings
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200000000 USD
CY2016Q2 us-gaap Short Term Borrowings
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0 USD
CY2015Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
90269 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
331673 shares
CY2016Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
156003 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
369917 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
7400000 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
5000000 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
765000000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
400000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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12188000000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12273000000 USD
CY2015Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
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162000000 USD
CY2016Q2 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
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183000000 USD
CY2015Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Fair Value
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190000000 USD
CY2016Q2 us-gaap Summary Of Investments Other Than Investments In Related Parties Fair Value
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211000000 USD
CY2015Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
203000000 USD
CY2016Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
205000000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
20320777 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
20320777 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
19000000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
19000000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
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304800000 shares
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2600000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2700000 shares
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1900000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1700000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
305500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
307500000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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296600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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297700000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
302900000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
294700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
296000000 shares

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