$NTAP
NetApp, Inc.

2018 Q3 Form 10-Q Financial Statement

#000156459018022123 Filed on August 21, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $1.474B $1.325B
YoY Change 11.25% 2.4%
Cost Of Revenue $511.0M $491.0M
YoY Change 4.07% -1.21%
Gross Profit $963.0M $834.0M
YoY Change 15.47% 4.64%
Gross Profit Margin 65.33% 62.94%
Selling, General & Admin $482.0M $493.0M
YoY Change -2.23% -0.8%
% of Gross Profit 50.05% 59.11%
Research & Development $208.0M $193.0M
YoY Change 7.77% -6.76%
% of Gross Profit 21.6% 23.14%
Depreciation & Amortization $49.00M $51.00M
YoY Change -3.92% -15.0%
% of Gross Profit 5.09% 6.12%
Operating Expenses $709.0M $686.0M
YoY Change 3.35% -2.56%
Operating Profit $254.0M $148.0M
YoY Change 71.62% 59.14%
Interest Expense $14.00M $13.00M
YoY Change 7.69% -13.33%
% of Operating Profit 5.51% 8.78%
Other Income/Expense, Net $18.00M $2.000M
YoY Change 800.0% -300.0%
Pretax Income $272.0M $145.0M
YoY Change 87.59% 57.61%
Income Tax -$11.00M $14.00M
% Of Pretax Income -4.04% 9.66%
Net Earnings $283.0M $131.0M
YoY Change 116.03% 104.69%
Net Earnings / Revenue 19.2% 9.89%
Basic Earnings Per Share $1.08
Diluted Earnings Per Share $1.05 $471.2K
COMMON SHARES
Basic Shares Outstanding 262.0M
Diluted Shares Outstanding 269.0M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.811B $5.321B
YoY Change -9.58% 20.36%
Cash & Equivalents $2.633B $2.953B
Short-Term Investments $2.184B $2.370B
Other Short-Term Assets $329.0M $316.0M
YoY Change 4.11% 43.64%
Inventory $97.00M $143.0M
Prepaid Expenses
Receivables $616.0M $518.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.853B $6.298B
YoY Change -7.07% 20.58%
LONG-TERM ASSETS
Property, Plant & Equipment $768.0M $799.0M
YoY Change -3.88% -15.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $464.0M $677.0M
YoY Change -31.46% -12.87%
Total Long-Term Assets $3.052B $3.301B
YoY Change -7.54% -7.38%
TOTAL ASSETS
Total Short-Term Assets $5.853B $6.298B
Total Long-Term Assets $3.052B $3.301B
Total Assets $8.905B $9.599B
YoY Change -7.23% 9.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $425.0M $289.0M
YoY Change 47.06% 20.92%
Accrued Expenses $293.0M $399.0M
YoY Change -26.57% 43.01%
Deferred Revenue $1.623B
YoY Change
Short-Term Debt $200.0M $894.0M
YoY Change -77.63%
Long-Term Debt Due $749.0M
YoY Change
Total Short-Term Liabilities $2.840B $4.287B
YoY Change -33.75% 69.85%
LONG-TERM LIABILITIES
Long-Term Debt $1.542B $745.0M
YoY Change 106.98% -50.03%
Other Long-Term Liabilities $2.601B $1.799B
YoY Change 44.58% -9.14%
Total Long-Term Liabilities $4.143B $2.544B
YoY Change 62.85% -26.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.840B $4.287B
Total Long-Term Liabilities $4.143B $2.544B
Total Liabilities $6.983B $6.831B
YoY Change 2.23% 13.94%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.922B $2.768B
YoY Change
Total Liabilities & Shareholders Equity $8.905B $9.599B
YoY Change -7.23% 9.24%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $283.0M $131.0M
YoY Change 116.03% 104.69%
Depreciation, Depletion And Amortization $49.00M $51.00M
YoY Change -3.92% -15.0%
Cash From Operating Activities $326.0M $250.0M
YoY Change 30.4% 9.65%
INVESTING ACTIVITIES
Capital Expenditures $64.00M $36.00M
YoY Change 77.78% 0.0%
Acquisitions $0.00 $24.00M
YoY Change -100.0%
Other Investing Activities -$2.000M -$5.000M
YoY Change -60.0% -600.0%
Cash From Investing Activities $186.0M $53.00M
YoY Change 250.94% -80.8%
FINANCING ACTIVITIES
Cash Dividend Paid $105.0M $54.00M
YoY Change 94.44% 1.89%
Common Stock Issuance & Retirement, Net $500.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -812.0M 181.0M
YoY Change -548.62% -116.9%
NET CHANGE
Cash From Operating Activities 326.0M 250.0M
Cash From Investing Activities 186.0M 53.00M
Cash From Financing Activities -812.0M 181.0M
Net Change In Cash -314.0M 503.0M
YoY Change -162.43% -188.71%
FREE CASH FLOW
Cash From Operating Activities $326.0M $250.0M
Capital Expenditures $64.00M $36.00M
Free Cash Flow $262.0M $214.0M
YoY Change 22.43% 11.46%

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UnrecognizedTaxBenefits
351000000
CY2018Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
301000000
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7000000
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
8000000
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000
CY2018Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2017Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2018Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
4811000000
CY2018Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
5391000000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
184000000
CY2018Q3 ntap Accrued Liability For Quantities In Excess Of Future Demand Forecasts With Contract Manufacturers
AccruedLiabilityForQuantitiesInExcessOfFutureDemandForecastsWithContractManufacturers
22000000
CY2018Q3 us-gaap Proceeds From Sale And Collection Of Finance Receivables
ProceedsFromSaleAndCollectionOfFinanceReceivables
30000000
CY2017Q3 us-gaap Proceeds From Sale And Collection Of Finance Receivables
ProceedsFromSaleAndCollectionOfFinanceReceivables
31000000
CY2018Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2018Q3 us-gaap Loss Contingency Managements Assessment And Process
LossContingencyManagementsAssessmentAndProcess
Although management at present believes that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm our financial position, results of operations, cash flows, or overall trends, legal proceedings are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could include significant monetary damages. In addition, in matters for which injunctive relief or other conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways or requiring other remedies. An unfavorable outcome may result in a material adverse impact on our business, results of operations, financial position, and overall trends.

Files In Submission

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0001564590-18-022123-index-headers.html Edgar Link pending
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