2016 Q4 Form 10-K Financial Statement

#000078878417000003 Filed on February 27, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4 2015 Q3
Revenue $2.090B $2.278B $2.688B
YoY Change -8.25% -17.85% 1.78%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $846.0M $305.0M $369.0M
YoY Change 177.38% -14.57% -0.54%
% of Gross Profit
Operating Expenses $2.148B $1.746B $1.874B
YoY Change 23.02% -11.19% -1.11%
Operating Profit -$175.0M $532.0M $814.0M
YoY Change -132.89% -34.08% 9.12%
Interest Expense -$122.0M -$80.00M $96.00M
YoY Change 52.5% 142.42% -4.0%
% of Operating Profit -15.04% 11.79%
Other Income/Expense, Net $1.000M -$3.000M $3.000M
YoY Change -133.33% -123.08% -40.0%
Pretax Income -$249.0M $441.0M $724.0M
YoY Change -156.46% -43.53% 2.7%
Income Tax -$151.0M $132.0M $285.0M
% Of Pretax Income 29.93% 39.36%
Net Earnings -$98.00M $309.0M $439.0M
YoY Change -131.72% -35.08% -1.13%
Net Earnings / Revenue -4.69% 13.56% 16.33%
Basic Earnings Per Share -$0.19 $0.61 $0.87
Diluted Earnings Per Share -$0.19 $0.60 $0.87
COMMON SHARES
Basic Shares Outstanding 505.0M shares 505.0M shares 505.0M shares
Diluted Shares Outstanding 508.0M shares 508.0M shares 508.0M shares

Balance Sheet

Concept 2016 Q4 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $423.0M $394.0M $271.0M
YoY Change 7.36% -1.99% -61.45%
Cash & Equivalents $423.0M $394.0M $271.0M
Short-Term Investments
Other Short-Term Assets $7.000M $13.00M $23.00M
YoY Change -46.15% -13.33% -4.17%
Inventory $887.0M $976.0M $923.0M
Prepaid Expenses $76.00M $135.0M $180.0M
Receivables $1.161B $1.068B $1.199B
Other Receivables $78.00M $305.0M $5.000M
Total Short-Term Assets $3.254B $3.494B $3.204B
YoY Change -6.87% -15.17% -16.69%
LONG-TERM ASSETS
Property, Plant & Equipment $29.29B $26.54B $25.61B
YoY Change 10.35% 12.51% 12.13%
Goodwill $16.00M $16.00M $16.00M
YoY Change 0.0% 0.0% 0.0%
Intangibles $98.00M $102.0M $122.0M
YoY Change -3.92% 21.43% 19.61%
Long-Term Investments $1.050B $1.233B $1.235B
YoY Change -14.84% -5.66% -5.65%
Other Assets $254.0M $231.0M $279.0M
YoY Change 9.96% -4.94% -15.71%
Total Long-Term Assets $7.530B $7.502B $7.615B
YoY Change 0.37% -1.02% 2.01%
TOTAL ASSETS
Total Short-Term Assets $3.254B $3.494B $3.204B
Total Long-Term Assets $7.530B $7.502B $7.615B
Total Assets $40.07B $37.54B $36.42B
YoY Change 6.75% 6.37% 6.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.459B $1.369B $1.046B
YoY Change 6.57% 16.21% -5.85%
Accrued Expenses $128.0M $138.0M $327.0M
YoY Change -7.25% 18.97% 14.74%
Deferred Revenue
YoY Change
Short-Term Debt $388.0M $364.0M $20.00M
YoY Change 6.59%
Long-Term Debt Due $500.0M $734.0M $1.038B
YoY Change -31.88% 17.63% 228.48%
Total Short-Term Liabilities $3.276B $3.575B $3.604B
YoY Change -8.36% 2.79% 14.92%
LONG-TERM LIABILITIES
Long-Term Debt $10.90B $8.834B $8.132B
YoY Change 23.33% 6.94% -3.06%
Other Long-Term Liabilities $211.0M $181.0M $156.0M
YoY Change 16.57% 61.61% 18.18%
Total Long-Term Liabilities $12.77B $12.06B $11.75B
YoY Change 5.89% 5.71% 11.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.276B $3.575B $3.604B
Total Long-Term Liabilities $12.77B $12.06B $11.75B
Total Liabilities $16.05B $15.63B $15.36B
YoY Change 2.63% 5.02% 12.32%
SHAREHOLDERS EQUITY
Retained Earnings $9.174B $9.117B $9.005B
YoY Change 0.63% 10.82% 13.44%
Common Stock $4.219B $4.244B
YoY Change -0.59% 0.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $717.0M $671.0M $667.0M
YoY Change 6.86% 5.67% 6.04%
Treasury Stock Shares 28.69M shares 28.27M shares 28.24M shares
Shareholders Equity $13.13B $13.07B $12.93B
YoY Change
Total Liabilities & Shareholders Equity $40.07B $37.54B $36.42B
YoY Change 6.75% 6.37% 6.67%

Cashflow Statement

Concept 2016 Q4 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income -$98.00M $309.0M $439.0M
YoY Change -131.72% -35.08% -1.13%
Depreciation, Depletion And Amortization $846.0M $305.0M $369.0M
YoY Change 177.38% -14.57% -0.54%
Cash From Operating Activities $550.0M $691.0M $994.0M
YoY Change -20.41% 10.74% -8.64%
INVESTING ACTIVITIES
Capital Expenditures -$1.214B -$1.081B -$1.039B
YoY Change 12.3% 20.38% 49.93%
Acquisitions
YoY Change
Other Investing Activities $20.00M -$20.00M -$29.00M
YoY Change -200.0% 233.33% 123.08%
Cash From Investing Activities -$1.194B -$1.101B -$1.068B
YoY Change 8.45% 21.79% 51.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 617.0M 533.0M -252.0M
YoY Change 15.76% -2638.1% 1.2%
NET CHANGE
Cash From Operating Activities 550.0M 691.0M 994.0M
Cash From Investing Activities -1.194B -1.101B -1.068B
Cash From Financing Activities 617.0M 533.0M -252.0M
Net Change In Cash -27.00M 123.0M -326.0M
YoY Change -121.95% -140.86% -345.11%
FREE CASH FLOW
Cash From Operating Activities $550.0M $691.0M $994.0M
Capital Expenditures -$1.214B -$1.081B -$1.039B
Free Cash Flow $1.764B $1.772B $2.033B
YoY Change -0.45% 16.43% 14.15%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;text-indent:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The process of preparing financial statements in conformity with GAAP requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues and expenses. Such estimates primarily relate to unsettled transactions and events as of the date of the financial statements.</font></div></div>

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