2014 Q4 Form 10-K Financial Statement

#000156459016012809 Filed on February 17, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $1.330B $1.203B $1.102B
YoY Change 6.89% 1.19% 9.13%
Cost Of Revenue $1.071B $960.1M $882.8M
YoY Change 6.91% -0.45% 5.81%
Gross Profit $259.8M $245.6M $220.7M
YoY Change 6.78% 8.1% 24.06%
Gross Profit Margin 19.53% 20.41% 20.03%
Selling, General & Admin $102.7M $96.10M $106.2M
YoY Change 19.84% 6.9% 14.94%
% of Gross Profit 39.53% 39.13% 48.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.000M $4.700M $4.200M
YoY Change 25.0% 30.56% 40.0%
% of Gross Profit 1.92% 1.91% 1.9%
Operating Expenses $102.7M $96.00M $106.2M
YoY Change 19.84% 6.79% 14.94%
Operating Profit $157.1M $149.6M $114.5M
YoY Change -0.32% 8.96% 33.92%
Interest Expense -$5.800M $5.775M $5.723M
YoY Change 0.0% 1.64% 6.49%
% of Operating Profit -3.69% 3.86% 5.0%
Other Income/Expense, Net
YoY Change
Pretax Income $151.2M $143.8M $108.8M
YoY Change -0.4% 9.27% 35.72%
Income Tax $51.80M $53.64M $40.65M
% Of Pretax Income 34.26% 37.3% 37.35%
Net Earnings $99.45M $90.15M $68.18M
YoY Change 1.68% 8.7% 34.5%
Net Earnings / Revenue 7.48% 7.49% 6.19%
Basic Earnings Per Share $21.49 $15.68
Diluted Earnings Per Share $23.24 $20.70 $15.17
COMMON SHARES
Basic Shares Outstanding 4.096M shares 4.196M 4.349M shares
Diluted Shares Outstanding 4.354M 4.495M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $544.9M $463.7M $551.9M
YoY Change -37.05% -42.87% -29.0%
Cash & Equivalents $545.4M $466.3M $553.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $873.1M $1.020B $959.3M
Prepaid Expenses
Receivables $10.00M $11.50M $15.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.428B $1.495B $1.526B
YoY Change -11.9% -14.64% -12.41%
LONG-TERM ASSETS
Property, Plant & Equipment $52.40M $52.80M $50.70M
YoY Change 40.48% 47.49% 55.05%
Goodwill $441.0K $441.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments $80.10M $83.80M $82.20M
YoY Change -11.49% 6.62%
Other Assets $165.2M
YoY Change 1.72%
Total Long-Term Assets $923.3M $917.9M $855.7M
YoY Change 6.71% 19.62% 8.51%
TOTAL ASSETS
Total Short-Term Assets $1.428B $1.495B $1.526B
Total Long-Term Assets $923.3M $917.9M $855.7M
Total Assets $2.351B $2.413B $2.382B
YoY Change -5.42% -4.2% -5.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $230.4M $250.4M $255.8M
YoY Change 13.22% 0.68% 15.12%
Accrued Expenses $289.1M $289.7M $296.0M
YoY Change -8.57% 6.98% 19.35%
Deferred Revenue
YoY Change
Short-Term Debt $100.0K $700.0K $1.300M
YoY Change -97.06% 16.67% -18.75%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $626.4M $660.2M $681.4M
YoY Change 0.37% 2.79% 11.78%
LONG-TERM LIABILITIES
Long-Term Debt $599.2M $599.1M $599.1M
YoY Change 0.02% 0.0% 0.02%
Other Long-Term Liabilities $1.600M $2.300M $2.300M
YoY Change 0.0% -8.0% 0.0%
Total Long-Term Liabilities $600.8M $601.4M $601.4M
YoY Change 0.02% -0.03% 0.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $626.4M $660.2M $681.4M
Total Long-Term Liabilities $600.8M $601.4M $601.4M
Total Liabilities $1.227B $1.262B $1.283B
YoY Change 0.19% 1.44% 5.94%
SHAREHOLDERS EQUITY
Retained Earnings $4.887B $4.788B $4.698B
YoY Change 6.12% 6.21% 6.16%
Common Stock $1.326B $1.300B $1.278B
YoY Change 9.36% 7.52% 6.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.089B $4.936B $4.876B
YoY Change 11.68% 11.14% 13.37%
Treasury Stock Shares $16.51M 16.39M shares 16.34M shares
Shareholders Equity $1.124B $1.151B $1.099B
YoY Change
Total Liabilities & Shareholders Equity $2.351B $2.413B $2.382B
YoY Change -5.42% -4.2% -5.89%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $99.45M $90.15M $68.18M
YoY Change 1.68% 8.7% 34.5%
Depreciation, Depletion And Amortization $5.000M $4.700M $4.200M
YoY Change 25.0% 30.56% 40.0%
Cash From Operating Activities $226.4M -$24.80M -$1.300M
YoY Change 24.4% -113.88% -89.52%
INVESTING ACTIVITIES
Capital Expenditures -$4.400M -$6.500M -$15.40M
YoY Change -10.2% 8.33% 234.78%
Acquisitions
YoY Change
Other Investing Activities $3.300M $700.0K $3.200M
YoY Change -130.0% -82.93% 60.0%
Cash From Investing Activities -$1.100M -$5.800M -$12.20M
YoY Change -93.08% 205.26% 351.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -146.2M -56.80M -312.2M
YoY Change 28.13% -59.72% 6.12%
NET CHANGE
Cash From Operating Activities 226.4M -24.80M -1.300M
Cash From Investing Activities -1.100M -5.800M -12.20M
Cash From Financing Activities -146.2M -56.80M -312.2M
Net Change In Cash 79.10M -87.40M -325.7M
YoY Change 52.12% -344.13% 5.3%
FREE CASH FLOW
Cash From Operating Activities $226.4M -$24.80M -$1.300M
Capital Expenditures -$4.400M -$6.500M -$15.40M
Free Cash Flow $230.8M -$18.30M $14.10M
YoY Change 23.49% -109.91% -280.77%

Facts In Submission

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<div> <p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.53%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates in the Preparation of Financial Statements </p> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Management continually evaluates the estimates used to prepare the consolidated financial statements and updates those estimates as necessary. In general, the Company&#8217;s estimates are based on historical experience, on information from third party professionals, and other various assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ materially from those estimates made by management. </p></div>
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IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
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NumberOfDeferredCompensationPlans
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CY2015 nvr Common Stock Shares Contributed To Employee Trust Shares
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CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
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CY2013 nvr Costs Accrued For Warranty Contracts Related To Nonrecurring Service Issues
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ContractsForSaleNetOfCancellation
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CY2014Q4 nvr Number Of Backlog Units At Period End
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CY2014Q4 nvr Loans Closed
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LoansClosed
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LoansClosed
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LoansClosed
472933000

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