2017 Q1 Form 10-Q Financial Statement

#000002998917000010 Filed on May 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $3.587B $3.499B
YoY Change 2.52% 0.86%
Cost Of Revenue $2.990B $2.925B
YoY Change 2.25% 0.33%
Gross Profit $597.0M $574.4M
YoY Change 3.93% 3.68%
Gross Profit Margin 16.64% 16.42%
Selling, General & Admin $108.6M $108.1M
YoY Change 0.46% 5.88%
% of Gross Profit 18.19% 18.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.30M $45.90M
YoY Change -7.84% -2.13%
% of Gross Profit 7.09% 7.99%
Operating Expenses $3.172B $3.107B
YoY Change 2.08% 0.5%
Operating Profit $415.7M $392.1M
YoY Change 6.02% 3.81%
Interest Expense $59.30M $50.30M
YoY Change 17.89% 15.37%
% of Operating Profit 14.27% 12.83%
Other Income/Expense, Net
YoY Change
Pretax Income $370.3M $352.0M
YoY Change 5.2% 2.47%
Income Tax $108.0M $115.5M
% Of Pretax Income 29.17% 32.81%
Net Earnings $241.8M $218.4M
YoY Change 10.71% 4.45%
Net Earnings / Revenue 6.74% 6.24%
Basic Earnings Per Share $1.03 $0.90
Diluted Earnings Per Share $1.02 $0.90
COMMON SHARES
Basic Shares Outstanding 234.6M shares 240.0M shares
Diluted Shares Outstanding 236.5M shares 241.1M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.486B $1.750B
YoY Change 42.06% 14.23%
Cash & Equivalents $2.442B $1.747B
Short-Term Investments $44.00M $3.000M
Other Short-Term Assets $1.097B $1.113B
YoY Change -1.44% -0.86%
Inventory $1.350B $1.362B
Prepaid Expenses
Receivables $6.797B $6.321B
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.73B $10.55B
YoY Change 11.22% 6.47%
LONG-TERM ASSETS
Property, Plant & Equipment $678.2M $690.1M
YoY Change -1.72% 1.26%
Goodwill $9.075B $9.044B
YoY Change 0.34% 4.68%
Intangibles $414.1M $401.0M
YoY Change 3.27% 9.2%
Long-Term Investments $117.7M $137.9M
YoY Change -14.65% -3.02%
Other Assets $223.3M $249.1M
YoY Change -10.36% -25.73%
Total Long-Term Assets $10.51B $10.52B
YoY Change -0.13% 3.5%
TOTAL ASSETS
Total Short-Term Assets $11.73B $10.55B
Total Long-Term Assets $10.51B $10.52B
Total Assets $22.24B $21.07B
YoY Change 5.55% 4.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.454B $8.406B
YoY Change 12.46% 7.08%
Accrued Expenses
YoY Change
Deferred Revenue $1.177B
YoY Change
Short-Term Debt $28.60M $38.80M
YoY Change -26.29% 304.17%
Long-Term Debt Due $0.00 $1.000B
YoY Change -100.0% 333300.0%
Total Short-Term Liabilities $13.07B $12.94B
YoY Change 1.01% 17.4%
LONG-TERM LIABILITIES
Long-Term Debt $4.915B $3.613B
YoY Change 36.04% -21.35%
Other Long-Term Liabilities $936.8M $915.8M
YoY Change 2.29% 14.1%
Total Long-Term Liabilities $936.8M $915.8M
YoY Change 2.29% 14.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.07B $12.94B
Total Long-Term Liabilities $936.8M $915.8M
Total Liabilities $14.01B $13.86B
YoY Change 1.09% 17.18%
SHAREHOLDERS EQUITY
Retained Earnings $5.758B $10.28B
YoY Change -43.96% 6.36%
Common Stock $868.5M $870.7M
YoY Change -0.25% -4.49%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.239B $7.822B
YoY Change -58.59% 7.93%
Treasury Stock Shares
Shareholders Equity $2.135B $2.376B
YoY Change
Total Liabilities & Shareholders Equity $22.24B $21.07B
YoY Change 5.55% 4.97%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $241.8M $218.4M
YoY Change 10.71% 4.45%
Depreciation, Depletion And Amortization $42.30M $45.90M
YoY Change -7.84% -2.13%
Cash From Operating Activities -$195.3M -$454.0M
YoY Change -56.98% 90.76%
INVESTING ACTIVITIES
Capital Expenditures $32.10M $41.40M
YoY Change -22.46% 8.38%
Acquisitions
YoY Change
Other Investing Activities -$13.10M -$11.70M
YoY Change 11.97% -400.0%
Cash From Investing Activities -$45.20M -$116.3M
YoY Change -61.13% 79.2%
FINANCING ACTIVITIES
Cash Dividend Paid $130.8M $122.2M
YoY Change 7.04% -3.17%
Common Stock Issuance & Retirement, Net $234.7M $207.1M
YoY Change 13.33% -23.49%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$386.6M -$365.4M
YoY Change 5.8% -12.69%
NET CHANGE
Cash From Operating Activities -$195.3M -$454.0M
Cash From Investing Activities -$45.20M -$116.3M
Cash From Financing Activities -$386.6M -$365.4M
Net Change In Cash -$627.1M -$935.7M
YoY Change -32.98% 29.71%
FREE CASH FLOW
Cash From Operating Activities -$195.3M -$454.0M
Capital Expenditures $32.10M $41.40M
Free Cash Flow -$227.4M -$495.4M
YoY Change -54.1% 79.36%

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CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1063000000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
1096500000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
244700000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
223300000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
1800000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
2000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
63800000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
100000000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
113100000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
114700000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
86900000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
117700000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2300000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2100000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-1000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-1800000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-1400000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-1500000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-1900000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-48900000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
0 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-28500000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
800000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-20400000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
600000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
200000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
100000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
100000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1969200000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2019600000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
892300000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
936800000 USD
CY2016Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
19600000 USD
CY2017Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
900000 USD
CY2016Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
1500000 USD
CY2017Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
500000 USD
CY2016Q1 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
86600000 USD
CY2017Q1 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
19200000 USD
CY2016Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-11700000 USD
CY2017Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-6100000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
207100000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
234700000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
122200000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
130800000 USD
CY2016Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
14900000 USD
CY2017Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
10300000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
41400000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
32100000 USD
CY2016Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
19800000 USD
CY2017Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2700000 USD
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-13200000 USD
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-7700000 USD
CY2016Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
13300000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-1400000 USD
CY2016Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
6700000 USD
CY2017Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
3100000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
236300000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
262400000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
674800000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
678200000 USD
CY2016Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
2300000 USD
CY2017Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
2900000 USD
CY2016Q4 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
RedeemableNoncontrollingInterestEquityFairValue
201600000 USD
CY2017Q1 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
RedeemableNoncontrollingInterestEquityFairValue
191100000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5677200000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5758200000 USD
CY2016Q1 us-gaap Revenues
Revenues
3499100000 USD
CY2017Q1 us-gaap Revenues
Revenues
3587400000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
108100000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
108600000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
23000000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
19300000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
28700000 USD
CY2017Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
28600000 USD
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
20600000 USD
CY2017Q1 us-gaap Short Term Investments
ShortTermInvestments
43600000 USD
CY2016Q4 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
28700000 USD
CY2017Q1 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
28600000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2162000000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
2134600000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2659600000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2666500000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
349600000 USD
CY2017Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
391800000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
3002100000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
3239000000 USD
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
24200000 USD
CY2017Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
23200000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
113600000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
71500000 USD
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1100000 shares
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1900000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
241100000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236500000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
240000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
234600000 shares

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