2017 Q1 Form 10-Q Financial Statement

#000137094617000014 Filed on April 26, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $1.478B $1.231B
YoY Change 20.06% 2.33%
Cost Of Revenue $1.136B $959.0M
YoY Change 18.46% -3.52%
Gross Profit $342.0M $272.0M
YoY Change 25.74% 30.14%
Gross Profit Margin 23.14% 22.1%
Selling, General & Admin $142.0M $132.0M
YoY Change 7.58% 2.33%
% of Gross Profit 41.52% 48.53%
Research & Development $21.00M $19.00M
YoY Change 10.53% 11.76%
% of Gross Profit 6.14% 6.99%
Depreciation & Amortization $84.00M $76.00M
YoY Change 10.53% 1.33%
% of Gross Profit 24.56% 27.94%
Operating Expenses $174.0M $156.0M
YoY Change 11.54% 3.31%
Operating Profit $168.0M $116.0M
YoY Change 44.83% 100.0%
Interest Expense $26.00M $23.00M
YoY Change 13.04% -11.54%
% of Operating Profit 15.48% 19.83%
Other Income/Expense, Net
YoY Change
Pretax Income $144.0M $93.00M
YoY Change 54.84% 190.63%
Income Tax $43.00M $34.00M
% Of Pretax Income 29.86% 36.56%
Net Earnings $101.0M $57.00M
YoY Change 77.19% 216.67%
Net Earnings / Revenue 6.83% 4.63%
Basic Earnings Per Share $0.90 $0.49
Diluted Earnings Per Share $0.89 $0.49
COMMON SHARES
Basic Shares Outstanding 112.3M shares 115.5M shares
Diluted Shares Outstanding 113.5M shares 116.5M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $101.0M $54.00M
YoY Change 87.04% -29.87%
Cash & Equivalents $101.0M $54.00M
Short-Term Investments
Other Short-Term Assets $76.00M $50.00M
YoY Change 52.0% -78.72%
Inventory $726.0M $708.0M
Prepaid Expenses
Receivables $918.0M $785.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.833B $1.610B
YoY Change 13.85% -19.3%
LONG-TERM ASSETS
Property, Plant & Equipment $3.117B $2.988B
YoY Change 4.32% 4.81%
Goodwill $1.337B $1.167B
YoY Change 14.57% -0.09%
Intangibles $1.133B $996.0M
YoY Change 13.76% -1.68%
Long-Term Investments $0.00 $0.00
YoY Change
Other Assets $197.0M $219.0M
YoY Change -10.05% -6.81%
Total Long-Term Assets $6.133B $5.845B
YoY Change 4.93% 2.53%
TOTAL ASSETS
Total Short-Term Assets $1.833B $1.610B
Total Long-Term Assets $6.133B $5.845B
Total Assets $7.966B $7.455B
YoY Change 6.85% -3.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $972.0M $886.0M
YoY Change 9.71% -0.23%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $3.000M
YoY Change -66.67% -78.57%
Long-Term Debt Due $3.000M $163.0M
YoY Change -98.16% 5333.33%
Total Short-Term Liabilities $975.0M $1.059B
YoY Change -7.93% 16.12%
LONG-TERM LIABILITIES
Long-Term Debt $2.256B $1.785B
YoY Change 26.39% -21.5%
Other Long-Term Liabilities $171.0M $153.0M
YoY Change 11.76% 15.91%
Total Long-Term Liabilities $2.427B $1.938B
YoY Change 25.23% -19.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $975.0M $1.059B
Total Long-Term Liabilities $2.427B $1.938B
Total Liabilities $3.402B $2.997B
YoY Change 13.51% -9.67%
SHAREHOLDERS EQUITY
Retained Earnings $1.455B $1.091B
YoY Change 33.36% 35.87%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $854.0M $636.0M
YoY Change 34.28% 23.5%
Treasury Stock Shares 23.40M shares 19.90M shares
Shareholders Equity $3.905B $3.787B
YoY Change
Total Liabilities & Shareholders Equity $7.966B $7.455B
YoY Change 6.85% -3.13%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $101.0M $57.00M
YoY Change 77.19% 216.67%
Depreciation, Depletion And Amortization $84.00M $76.00M
YoY Change 10.53% 1.33%
Cash From Operating Activities $7.000M $63.00M
YoY Change -88.89% -154.31%
INVESTING ACTIVITIES
Capital Expenditures -$67.00M -$98.00M
YoY Change -31.63% 10.11%
Acquisitions $0.00
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$67.00M -$98.00M
YoY Change -31.63% 10.11%
FINANCING ACTIVITIES
Cash Dividend Paid $45.00M $40.00M
YoY Change 12.5% 2.56%
Common Stock Issuance & Retirement, Net $72.00M $43.00M
YoY Change 67.44% 126.32%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $43.00M -$8.000M
YoY Change -637.5% -103.74%
NET CHANGE
Cash From Operating Activities $7.000M $63.00M
Cash From Investing Activities -$67.00M -$98.00M
Cash From Financing Activities $43.00M -$8.000M
Net Change In Cash -$11.00M -$43.00M
YoY Change -74.42% -577.78%
FREE CASH FLOW
Cash From Operating Activities $7.000M $63.00M
Capital Expenditures -$67.00M -$98.00M
Free Cash Flow $74.00M $161.0M
YoY Change -54.04% -696.3%

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34000000 USD
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36000000 USD
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CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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2000000 USD
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CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2017Q1 us-gaap Payments For Repurchase Of Equity
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CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2017Q1 us-gaap Preferred Stock Shares Authorized
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CY2016Q4 us-gaap Preferred Stock Value
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4000000 USD
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CY2017Q1 us-gaap Profit Loss
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CY2017Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2017Q1 us-gaap Preferred Stock Value
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CY2016Q1 us-gaap Proceeds From Long Term Lines Of Credit
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CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2016Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2017Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2016Q1 us-gaap Repayments Of Long Term Lines Of Credit
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71000000 USD
CY2017Q1 us-gaap Repayments Of Long Term Lines Of Credit
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CY2016Q1 us-gaap Research And Development Expense
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19000000 USD
CY2017Q1 us-gaap Research And Development Expense
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21000000 USD
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6000000 USD
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CY2017Q1 us-gaap Restructuring And Related Cost Cost Incurred To Date1
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66000000 USD
CY2016Q1 us-gaap Restructuring Charges
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CY2016Q4 us-gaap Restructuring Reserve
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CY2017Q1 us-gaap Restructuring Reserve
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CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q1 us-gaap Sales Revenue Goods Net
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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P4Y
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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2000 shares
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34.97
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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37.13
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2017Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
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P2Y11M
CY2016Q4 us-gaap Short Term Borrowings
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CY2017Q1 us-gaap Short Term Borrowings
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CY2017Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2017Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
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8800000 shares
CY2017Q1 us-gaap Stock Repurchased During Period Shares
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CY2016Q4 us-gaap Stockholders Equity
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CY2017Q1 us-gaap Stockholders Equity
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CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2016Q4 us-gaap Treasury Stock Shares
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22800000 shares
CY2017Q1 us-gaap Treasury Stock Shares
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23400000 shares
CY2016Q4 us-gaap Treasury Stock Value
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803000000 USD
CY2017Q1 us-gaap Treasury Stock Value
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CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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116500000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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113500000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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115500000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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112300000 shares

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