2016 Q4 Form 10-Q Financial Statement
#000089817316000385 Filed on November 08, 2016
Income Statement
| Concept | 2016 Q4 | 2016 Q3 | 2015 Q4 |
|---|---|---|---|
| Revenue | $2.099B | $2.221B | $1.949B |
| YoY Change | 7.71% | 6.77% | 10.48% |
| Cost Of Revenue | $985.1M | $1.051B | $921.4M |
| YoY Change | 6.91% | 6.05% | 8.13% |
| Gross Profit | $1.114B | $1.170B | $1.028B |
| YoY Change | 8.43% | 7.42% | 12.67% |
| Gross Profit Margin | 53.08% | 52.68% | 52.73% |
| Selling, General & Admin | $706.5M | $722.2M | $665.0M |
| YoY Change | 6.24% | 7.15% | 9.18% |
| % of Gross Profit | 63.41% | 61.73% | 64.71% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $56.50M | $55.00M | $52.20M |
| YoY Change | 8.24% | 5.57% | 2.96% |
| % of Gross Profit | 5.07% | 4.7% | 5.08% |
| Operating Expenses | $706.5M | $722.2M | $665.0M |
| YoY Change | 6.24% | 7.15% | 9.18% |
| Operating Profit | $407.7M | $447.8M | $362.6M |
| YoY Change | 12.43% | 7.84% | 19.67% |
| Interest Expense | -$17.70M | -$17.50M | -$13.50M |
| YoY Change | 31.11% | 27.74% | 0.0% |
| % of Operating Profit | -4.34% | -3.91% | -3.72% |
| Other Income/Expense, Net | $900.0K | -$15.92M | $500.0K |
| YoY Change | 80.0% | 10.59% | -16.67% |
| Pretax Income | $390.9M | $431.9M | $349.6M |
| YoY Change | 11.81% | 7.74% | 20.51% |
| Income Tax | $144.9M | $153.4M | $131.1M |
| % Of Pretax Income | 37.07% | 35.52% | 37.5% |
| Net Earnings | $246.0M | $278.5M | $218.6M |
| YoY Change | 12.56% | 4.59% | 20.31% |
| Net Earnings / Revenue | 11.72% | 12.54% | 11.21% |
| Basic Earnings Per Share | $2.62 | $2.93 | $2.22 |
| Diluted Earnings Per Share | $2.59 | $2.90 | $2.19 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 94.46M shares | 94.89M shares | 98.64M shares |
| Diluted Shares Outstanding | 96.12M shares |
Balance Sheet
| Concept | 2016 Q4 | 2016 Q3 | 2015 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $147.0M | $560.0M | $116.0M |
| YoY Change | 26.72% | 102.17% | -53.78% |
| Cash & Equivalents | $146.6M | $560.3M | $116.3M |
| Short-Term Investments | |||
| Other Short-Term Assets | $53.02M | $32.03M | $29.02M |
| YoY Change | 82.69% | -3.19% | -38.01% |
| Inventory | $2.779B | $2.790B | $2.631B |
| Prepaid Expenses | |||
| Receivables | $197.3M | $190.9M | $161.1M |
| Other Receivables | $82.00M | $97.00M | $73.00M |
| Total Short-Term Assets | $3.258B | $3.670B | $3.010B |
| YoY Change | 8.24% | 16.22% | -1.81% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $3.123B | $3.059B | $2.862B |
| YoY Change | 9.15% | 9.04% | 7.64% |
| Goodwill | $785.4M | $757.3M | $757.1M |
| YoY Change | 3.73% | 0.02% | 0.1% |
| Intangibles | $11.33M | $12.40M | |
| YoY Change | -8.65% | -16.81% | |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $37.38M | $36.64M | $34.74M |
| YoY Change | 7.61% | -11.05% | -9.55% |
| Total Long-Term Assets | $3.946B | $3.853B | $3.667B |
| YoY Change | 7.62% | 6.49% | 5.77% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $3.258B | $3.670B | $3.010B |
| Total Long-Term Assets | $3.946B | $3.853B | $3.667B |
| Total Assets | $7.204B | $7.522B | $6.677B |
| YoY Change | 7.9% | 11.03% | 2.21% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $2.937B | $2.999B | $2.608B |
| YoY Change | 12.59% | 14.2% | 7.9% |
| Accrued Expenses | $146.0M | $140.0M | $131.0M |
| YoY Change | 11.45% | -6.04% | -7.09% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $0.00 | ||
| YoY Change | -100.0% | ||
| Total Short-Term Liabilities | $3.401B | $3.465B | $3.046B |
| YoY Change | 11.63% | 11.65% | 8.29% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $1.887B | $1.887B | $1.390B |
| YoY Change | 35.76% | 35.04% | 0.15% |
| Other Long-Term Liabilities | $199.2M | $185.4M | $199.2M |
| YoY Change | 0.02% | -7.32% | -4.95% |
| Total Long-Term Liabilities | $2.086B | $2.072B | $1.589B |
| YoY Change | 31.28% | 935.58% | 658.39% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $3.401B | $3.465B | $3.046B |
| Total Long-Term Liabilities | $2.086B | $2.072B | $1.589B |
| Total Liabilities | $5.487B | $5.537B | $4.636B |
| YoY Change | 18.36% | 67.6% | 53.35% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $289.5M | $560.3M | $678.8M |
| YoY Change | -57.35% | -23.53% | -17.46% |
| Common Stock | $1.338B | $1.340B | $1.282B |
| YoY Change | 4.3% | 5.6% | 7.24% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $1.627B | $1.901B | $1.961B |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $7.204B | $7.522B | $6.677B |
| YoY Change | 7.9% | 11.03% | 2.21% |
Cashflow Statement
| Concept | 2016 Q4 | 2016 Q3 | 2015 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $246.0M | $278.5M | $218.6M |
| YoY Change | 12.56% | 4.59% | 20.31% |
| Depreciation, Depletion And Amortization | $56.50M | $55.00M | $52.20M |
| YoY Change | 8.24% | 5.57% | 2.96% |
| Cash From Operating Activities | $296.4M | $385.6M | $282.8M |
| YoY Change | 4.81% | 5.88% | 36.35% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$120.1M | -$135.8M | -$117.5M |
| YoY Change | 2.21% | 23.45% | 4.17% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$56.30M | $500.0K | $1.600M |
| YoY Change | -3618.75% | -68.75% | 6.67% |
| Cash From Investing Activities | -$176.4M | -$135.3M | -$116.0M |
| YoY Change | 52.07% | 24.93% | 4.22% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -533.8M | -88.10M | -327.5M |
| YoY Change | 62.99% | -63.15% | 127.59% |
| NET CHANGE | |||
| Cash From Operating Activities | 296.4M | 385.6M | 282.8M |
| Cash From Investing Activities | -176.4M | -135.3M | -116.0M |
| Cash From Financing Activities | -533.8M | -88.10M | -327.5M |
| Net Change In Cash | -413.8M | 162.2M | -160.7M |
| YoY Change | 157.5% | 865.48% | 236.19% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $296.4M | $385.6M | $282.8M |
| Capital Expenditures | -$120.1M | -$135.8M | -$117.5M |
| Free Cash Flow | $416.5M | $521.4M | $400.3M |
| YoY Change | 4.05% | 9.95% | 25.02% |
Facts In Submission
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Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTE 9 - RECENT ACCOUNTING PRONOUNCEMENTS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May of 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). Under ASU 2014-09, an entity is required to follow a five-step process to determine the amount of revenue to recognize when promised goods or services are transferred to customers. ASU 2014-09 offers specific accounting guidance for costs to obtain or fulfill a contract with a customer. In addition, an entity is required to disclose sufficient information to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In August of 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date” (“ASU 2015-14”), to defer the effective date of ASU 2014-09 by one year. For public companies, ASU 2015-14 changes ASU 2014-09 to be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. These ASUs can be adopted retrospectively or as a cumulative-effective adjustment at the date of adoption, with early adoption permitted, but not before December 15, 2016. The Company will adopt this guidance beginning with its first quarter ending March 31, 2018. The Company is in the process of evaluating the potential future impact, if any, of ASU 2014-09 on its consolidated financial position, results of operations and cash flows, and which method of adoption is most appropriate for the Company.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February of 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company will adopt this guidance beginning with its first quarter ending March 31, 2019. The Company is in the process of evaluating the future impact of ASU 2016-02 on its consolidated financial position, results of operations and cash flows.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March of 2016, the FASB issued ASU No. 2016-06, “Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments” (“ASU 2016-06”). ASU 2016-06 clarifies the requirements for assessing whether contingent call or put options that can accelerate the payment of principal on debt instruments are clearly and closely related to the economic characteristics and risks of the debt hosts and requires entities to solely use the four-step decision sequence, which is already in existence, when assessing the embedded call or put options. For public companies, ASU 2016-06 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and can be adopted on a modified retrospective basis, with early adoption permitted. The Company will adopt this guidance beginning with its first quarter ending March 31, 2017. The application of this guidance is not expected to have a material impact on the Company’s consolidated financial condition, results of operations or cash flows.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March of 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). Under ASU 2016-09, several aspects of the accounting for share-based payment transactions, including tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows, were simplified. For public companies, ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, with early adoption permitted. ASU 2016-09 includes various adoption methods, depending on the guidance being adopted; amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements and forfeitures should be applied using a modified retrospective transition method, while the amendments related to the presentation of employee taxes paid on the statement of cash flows should be applied retrospectively, the amendments requiring recognition of excess tax benefits and deficiencies in the income statement should be applied prospectively, and amendments related to the presentation of excess tax benefits on the statement of cash flows should be applied either prospectively or retrospectively. The Company will adopt this guidance beginning with its first quarter ending March 31, 2017. The Company is in the process of evaluating the future impact of ASU 2016-09 on its consolidated financial position, results of operations and cash flows.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June of 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). Under ASU 2016-13, businesses and other organizations are required to present financial assets, measured at amortized costs basis, at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis, such as trade receivables. The measurement of expected credit loss will be based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. For public companies, ASU 2016-13 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company will adopt this guidance beginning with its first quarter ending March 31, 2020. The application of this guidance is not expected to have a material impact on the Company’s consolidated financial condition, results of operations or cash flows.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August of 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 reduces the existing diversity in practice for eight specific parts on cash flow statement presentation and classification: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance (COLI) policies; distributions received from equity method investments; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. For public companies, ASU 2016-15 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and requires retrospective adoption, with early adoption permitted. The Company will adopt this guidance beginning with its first quarter ending March 31, 2018. The application of this guidance is not expected to have a material impact on the Company’s consolidated financial condition, results of operations or cash flows.</font></div></div> | ||
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DebtInstrumentCovenantCompliance
|
Each of the senior notes is subject to certain customary covenants, with which the Company complied as of September 30, 2016. | ||
| us-gaap |
Debt Instrument Description
DebtInstrumentDescription
|
The Company has issued a cumulative $1.9 billion aggregate principal amount of unsecured senior notes, which are due between January 2021 and March 2026, with UMB as trustee. Interest on the senior notes, ranging from 3.550% to 4.875%, is payable semi-annually and is computed on the basis of a 360-day year. | ||
| us-gaap |
Debt Instrument Maturity Date Range End1
DebtInstrumentMaturityDateRangeEnd1
|
2026-03-08 | ||
| us-gaap |
Debt Instrument Maturity Date Range Start1
DebtInstrumentMaturityDateRangeStart1
|
2021-01-14 | ||
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-22780000 | USD | |
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
4439000 | USD | |
| CY2015Q4 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
79772000 | USD |
| CY2016Q3 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
84211000 | USD |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
158065000 | USD | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
161447000 | USD | |
| CY2015Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.68 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
7.09 | ||
| CY2016Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.93 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
8.25 | ||
| CY2015Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.64 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
6.98 | ||
| CY2016Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.90 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
8.14 | ||
| us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
50759000 | USD | |
| us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
46034000 | USD | |
| us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
50759000 | USD | |
| us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
46034000 | USD | |
| CY2015Q4 | us-gaap |
Goodwill
Goodwill
|
757142000 | USD |
| CY2016Q3 | us-gaap |
Goodwill
Goodwill
|
757251000 | USD |
| CY2015Q3 | us-gaap |
Gross Profit
GrossProfit
|
1089254000 | USD |
| us-gaap |
Gross Profit
GrossProfit
|
3135004000 | USD | |
| CY2016Q3 | us-gaap |
Gross Profit
GrossProfit
|
1170026000 | USD |
| us-gaap |
Gross Profit
GrossProfit
|
3394784000 | USD | |
| CY2015Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
400868000 | USD |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
1110740000 | USD | |
| CY2016Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
431893000 | USD |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
1246261000 | USD | |
| CY2015Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
134600000 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
398100000 | USD | |
| CY2016Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
153400000 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
454600000 | USD | |
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
342920000 | USD | |
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
416901000 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
208959000 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
390849000 | USD | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
24511000 | USD | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
35312000 | USD | |
| us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
85428000 | USD | |
| us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
39636000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
52024000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
158877000 | USD | |
| us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-25276000 | USD | |
| us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
147000 | USD | |
| CY2015Q3 | us-gaap |
Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
|
1100000 | USD |
| us-gaap |
Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
|
700000 | USD | |
| CY2016Q3 | us-gaap |
Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
|
-900000 | USD |
| us-gaap |
Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
|
-1400000 | USD | |
| CY2015Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1500000 | shares |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1573000 | shares | |
| CY2016Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1229000 | shares |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1315000 | shares | |
| CY2015Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
14296000 | USD |
| us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
43017000 | USD | |
| CY2016Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
18706000 | USD |
| us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
52228000 | USD | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
51003000 | USD | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
59547000 | USD | |
| CY2015Q4 | us-gaap |
Inventory Net
InventoryNet
|
2631015000 | USD |
| CY2016Q3 | us-gaap |
Inventory Net
InventoryNet
|
2789892000 | USD |
| CY2015Q4 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
16895000 | USD |
| CY2016Q3 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
19707000 | USD |
| CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
6676684000 | USD |
| CY2016Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
7522340000 | USD |
| CY2015Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
3046398000 | USD |
| CY2016Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
3465428000 | USD |
| CY2016Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
1900000000 | USD |
| CY2015Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1390018000 | USD |
| CY2016Q3 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1886501000 | USD |
| us-gaap |
Loss Contingency Accrual Provision
LossContingencyAccrualProvision
|
18600000 | USD | |
| us-gaap |
Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
|
12500000 | USD | |
| us-gaap |
Loss Contingency Name Of Plaintiff
LossContingencyNameOfPlaintiff
|
Meridian Creative Alliance | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-745117000 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-371301000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-291249000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-352698000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1062722000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1168018000 | USD | |
| CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
266268000 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
712640000 | USD | |
| CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
278493000 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
791661000 | USD | |
| CY2015Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-14392000 | USD |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-40661000 | USD | |
| CY2016Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-15916000 | USD |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-45235000 | USD | |
| CY2015Q4 | us-gaap |
Nontrade Receivables Current
NontradeReceivablesCurrent
|
72609000 | USD |
| CY2016Q3 | us-gaap |
Nontrade Receivables Current
NontradeReceivablesCurrent
|
96615000 | USD |
| CY2015Q4 | us-gaap |
Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
|
13219000 | USD |
| CY2016Q3 | us-gaap |
Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
|
0 | USD |
| CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
415260000 | USD |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1151401000 | USD | |
| CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
447809000 | USD |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1291496000 | USD | |
| CY2015Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
29023000 | USD |
| CY2016Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
32029000 | USD |
| CY2015Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
34741000 | USD |
| CY2016Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
36641000 | USD |
| CY2015Q3 | us-gaap |
Other Interest And Dividend Income
OtherInterestAndDividendIncome
|
551000 | USD |
| us-gaap |
Other Interest And Dividend Income
OtherInterestAndDividendIncome
|
1708000 | USD | |
| CY2016Q3 | us-gaap |
Other Interest And Dividend Income
OtherInterestAndDividendIncome
|
1227000 | USD |
| us-gaap |
Other Interest And Dividend Income
OtherInterestAndDividendIncome
|
3172000 | USD | |
| CY2015Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
232678000 | USD |
| CY2016Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
253517000 | USD |
| CY2015Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
199182000 | USD |
| CY2016Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
185437000 | USD |
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-4194000 | USD | |
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-4174000 | USD | |
| CY2015Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-647000 | USD |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
648000 | USD | |
| CY2016Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1563000 | USD |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
3821000 | USD | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
849202000 | USD | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
959789000 | USD | |
| us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | USD | |
| us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
4125000 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
296474000 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
356234000 | USD | |
| us-gaap |
Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
|
3028000 | USD | |
| us-gaap |
Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
|
1047000 | USD | |
| us-gaap |
Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
|
0 | USD | |
| us-gaap |
Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
|
499160000 | USD | |
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
2197000 | USD | |
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
2489000 | USD | |
| us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
53351000 | USD | |
| us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
47419000 | USD | |
| CY2015Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
35223000 | USD |
| CY2016Q3 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
35232000 | USD |
| us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
56067000 | USD | |
| us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
56076000 | USD | |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
4372250000 | USD |
| CY2016Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
4720225000 | USD |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2861556000 | USD |
| CY2016Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3058684000 | USD |
| us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
25000 | USD | |
| us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
0 | USD | |
| CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
678840000 | USD |
| CY2016Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
560304000 | USD |
| CY2015Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
2080201000 | USD |
| us-gaap |
Sales Revenue Net
SalesRevenueNet
|
6017622000 | USD | |
| CY2016Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
2220955000 | USD |
| us-gaap |
Sales Revenue Net
SalesRevenueNet
|
6493794000 | USD | |
| CY2015Q4 | us-gaap |
Self Insurance Reserve Current
SelfInsuranceReserveCurrent
|
72741000 | USD |
| CY2016Q3 | us-gaap |
Self Insurance Reserve Current
SelfInsuranceReserveCurrent
|
72373000 | USD |
| CY2015Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
673994000 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1983603000 | USD | |
| CY2016Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
722217000 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2103288000 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
16656000 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
14371000 | USD | |
| CY2016Q2 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
7000000000 | USD |
| CY2016Q1 | us-gaap |
Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
|
P3Y | |
| CY2016Q2 | us-gaap |
Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
|
P3Y | |
| CY2016Q3 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
683500000 | USD |
| CY2015Q3 | us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
1147000 | shares |
| us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
3784000 | shares | |
| CY2016Q3 | us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
367000 | shares |
| us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
3673000 | shares | |
| CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1961314000 | USD |
| CY2016Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1900763000 | USD |
| CY2015Q3 | us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
238.97 | |
| us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
224.39 | ||
| CY2016Q3 | us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
281.04 | |
| us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
261.32 | ||
| CY2015Q3 | us-gaap |
Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
|
274213000 | USD |
| us-gaap |
Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
|
849145000 | USD | |
| CY2016Q3 | us-gaap |
Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
|
102941000 | USD |
| us-gaap |
Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
|
959743000 | USD | |
| CY2015Q4 | us-gaap |
Unsecured Debt
UnsecuredDebt
|
0 | USD |
| CY2016Q3 | us-gaap |
Unsecured Debt
UnsecuredDebt
|
0 | USD |
| CY2015Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
100770000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
102041000 | shares | |
| CY2016Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
96120000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
97309000 | shares | |
| CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
99270000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
100468000 | shares | |
| CY2016Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
94891000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
95994000 | shares | |
| us-gaap |
Basis Of Accounting
BasisOfAccounting
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTE 1 - BASIS OF PRESENTATION</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements of O’Reilly Automotive, Inc. and its subsidiaries (the “Company” or “O’Reilly”) have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the </font><font style="font-family:inherit;font-size:10pt;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September 30, 2016</font><font style="font-family:inherit;font-size:10pt;">, are not necessarily indicative of the results that may be expected for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Subsequent Event:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 26, 2016, the Company announced it had entered a definitive agreement to purchase substantially all of the assets of Bond Auto Parts, which is a privately held automotive parts chain in New England. The purchase is expected to be completed before the end of the year.</font></div></div> |
