2015 Q4 Form 10-K Financial Statement

#000137094617000006 Filed on February 08, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $1.297B $1.447B $1.403B
YoY Change 3.18% 5.01% 3.93%
Cost Of Revenue $1.001B $1.107B $1.095B
YoY Change -1.28% -1.77% -0.64%
Gross Profit $296.0M $340.0M $308.0M
YoY Change 21.81% 35.46% 24.19%
Gross Profit Margin 22.82% 23.5% 21.95%
Selling, General & Admin $136.0M $130.0M $130.0M
YoY Change 18.26% 18.18% 0.0%
% of Gross Profit 45.95% 38.24% 42.21%
Research & Development $20.00M $18.00M $18.00M
YoY Change 5.26% 0.0% -10.0%
% of Gross Profit 6.76% 5.29% 5.84%
Depreciation & Amortization $76.00M $73.00M $76.00M
YoY Change 1.33% -2.67% -2.56%
% of Gross Profit 25.68% 21.47% 24.68%
Operating Expenses $160.0M $144.0M $152.0M
YoY Change 25.98% 0.0% -13.14%
Operating Profit $136.0M $196.0M $156.0M
YoY Change 17.24% 83.18% 113.7%
Interest Expense $20.00M $28.00M $26.00M
YoY Change -28.57% 0.0% -16.13%
% of Operating Profit 14.71% 14.29% 16.67%
Other Income/Expense, Net
YoY Change
Pretax Income $118.0M $168.0M $135.0M
YoY Change 293.33% 112.66% 221.43%
Income Tax $8.000M $55.00M $44.00M
% Of Pretax Income 6.78% 32.74% 32.59%
Net Earnings $109.0M $112.0M $91.00M
YoY Change 230.3% 115.38% 333.33%
Net Earnings / Revenue 8.4% 7.74% 6.49%
Basic Earnings Per Share $0.94 $0.96 $0.77
Diluted Earnings Per Share $0.92 $0.95 $0.77
COMMON SHARES
Basic Shares Outstanding 116.6M shares 117.2M shares 117.5M shares
Diluted Shares Outstanding 118.3M shares 118.3M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.00M $62.00M $80.00M
YoY Change 43.28% 21.57% -1.23%
Cash & Equivalents $96.00M $62.00M $80.00M
Short-Term Investments
Other Short-Term Assets $47.00M $237.0M $248.0M
YoY Change -79.83% 6.28% 7.36%
Inventory $644.0M $701.0M $786.0M
Prepaid Expenses
Receivables $709.0M $861.0M $853.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.508B $1.875B $1.980B
YoY Change -16.55% -7.04% -3.88%
LONG-TERM ASSETS
Property, Plant & Equipment $2.956B $2.885B $2.891B
YoY Change 1.97% -0.24% -0.76%
Goodwill $1.167B $1.167B $1.168B
YoY Change -0.09% -0.09%
Intangibles $999.0M $1.004B $1.010B
YoY Change -1.77% -2.05% -1.56%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change
Other Assets $204.0M $228.0M $227.0M
YoY Change -1.45% 3.17% 0.89%
Total Long-Term Assets $5.818B $5.636B $5.699B
YoY Change 1.45% -0.74% -0.65%
TOTAL ASSETS
Total Short-Term Assets $1.508B $1.875B $1.980B
Total Long-Term Assets $5.818B $5.636B $5.699B
Total Assets $7.326B $7.511B $7.679B
YoY Change -2.86% -2.39% -1.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $535.0M $958.0M $921.0M
YoY Change -1.29% 3.01% 4.9%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $6.000M $18.00M $9.000M
YoY Change -80.65% -18.18% -47.06%
Long-Term Debt Due $163.0M $3.000M $3.000M
YoY Change 5333.33% -25.0% -25.0%
Total Short-Term Liabilities $1.063B $984.0M $937.0M
YoY Change 8.14% 2.61% 3.54%
LONG-TERM LIABILITIES
Long-Term Debt $1.702B $1.979B $2.165B
YoY Change -13.95% -8.84% -4.67%
Other Long-Term Liabilities $137.0M $138.0M $141.0M
YoY Change 5.38% 3.76% 7.63%
Total Long-Term Liabilities $1.839B $2.117B $2.306B
YoY Change -12.76% -8.12% -4.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.063B $984.0M $937.0M
Total Long-Term Liabilities $1.839B $2.117B $2.306B
Total Liabilities $2.902B $3.101B $3.243B
YoY Change -6.11% -4.96% -1.94%
SHAREHOLDERS EQUITY
Retained Earnings $1.055B $966.0M $874.0M
YoY Change 31.06% 22.12% 15.3%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $612.0M $574.0M $533.0M
YoY Change 18.15% 9.54% 1.72%
Treasury Stock Shares 19.60M shares 18.80M shares 17.90M shares
Shareholders Equity $3.739B $3.735B $3.708B
YoY Change
Total Liabilities & Shareholders Equity $7.326B $7.511B $7.679B
YoY Change -2.86% -2.39% -1.5%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income $109.0M $112.0M $91.00M
YoY Change 230.3% 115.38% 333.33%
Depreciation, Depletion And Amortization $76.00M $73.00M $76.00M
YoY Change 1.33% -2.67% -2.56%
Cash From Operating Activities $332.0M $304.0M $222.0M
YoY Change -14.87% 69.83% 43.23%
INVESTING ACTIVITIES
Capital Expenditures -$127.0M -$90.00M -$95.00M
YoY Change -21.12% -9.09% 4.4%
Acquisitions
YoY Change
Other Investing Activities $21.00M $2.000M $9.000M
YoY Change -19.23% 0.0% -88.75%
Cash From Investing Activities -$106.0M -$88.00M -$86.00M
YoY Change -21.48% -9.28% 681.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -186.0M -230.0M -131.0M
YoY Change -21.52% 107.21% 1.55%
NET CHANGE
Cash From Operating Activities 332.0M 304.0M 222.0M
Cash From Investing Activities -106.0M -88.00M -86.00M
Cash From Financing Activities -186.0M -230.0M -131.0M
Net Change In Cash 40.00M -14.00M 5.000M
YoY Change 122.22% -51.72% -66.67%
FREE CASH FLOW
Cash From Operating Activities $332.0M $304.0M $222.0M
Capital Expenditures -$127.0M -$90.00M -$95.00M
Free Cash Flow $459.0M $394.0M $317.0M
YoY Change -16.7% 41.73% 28.86%

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220000000 USD
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27000000 USD
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232000000 USD
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453000000 USD
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5000000 USD
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1000000 USD
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2000000 USD
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10000000 USD
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400000 shares
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400000 shares
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IncrementalCommonSharesAttributableToCallOptionsAndWarrants
200000 shares
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400000 shares
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600000 shares
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800000 shares
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11000000 USD
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5100 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
6000 shares
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35400 shares
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105100 shares
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11350 shares
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0 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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0 shares
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2748720 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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2754895 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1953320 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
975400 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.04
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
29.55
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.09
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.14
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
25.23
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
29.75
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
26.90
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
34.50
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
41.89
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
30.00
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
38.09
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
38.09
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
38.50
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
37.65
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
6000000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
CY2015Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.045
CY2016Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.054
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
328875 shares
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
691375 shares
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
960570 shares
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
38000000 USD
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
37000000 USD
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
51000000 USD
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
8000000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
20000000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
27000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
3739000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
3849000000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3830000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3730000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3779000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3889000000 USD
CY2016 us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
2000000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
19600000 shares
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
22800000 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
612000000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
803000000 USD
CY2014 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
44000000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
140000000 USD
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
248000000 USD
CY2016Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
1800000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
155000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
106000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
84000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
98000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
57000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
18000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
5000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
7000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
10000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
19000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
118300000 shares
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
118200000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
115400000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118300000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118200000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117500000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117200000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114400000 shares
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Use of Estimates and Assumptions</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 materially from those estimates.</font></div></div>

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