2018 Q3 Form 10-Q Financial Statement

#000078878418000026 Filed on October 30, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $2.394B $2.254B
YoY Change 6.21% -8.0%
Cost Of Revenue $804.0M $616.0M
YoY Change 30.52%
Gross Profit $1.590B $1.638B
YoY Change -2.93%
Gross Profit Margin 66.42% 72.67%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $294.0M $252.0M
YoY Change 16.67% -10.0%
% of Gross Profit 18.49% 15.38%
Operating Expenses $1.840B $1.561B
YoY Change 17.87% -16.66%
Operating Profit $554.0M $693.0M
YoY Change -20.06% 20.1%
Interest Expense $127.0M $100.0M
YoY Change 27.0% 1.01%
% of Operating Profit 22.92% 14.43%
Other Income/Expense, Net $33.00M $33.00M
YoY Change 0.0% 175.0%
Pretax Income $529.0M $647.0M
YoY Change -18.24% 25.63%
Income Tax $117.0M $252.0M
% Of Pretax Income 22.12% 38.95%
Net Earnings $412.0M $395.0M
YoY Change 4.3% 20.8%
Net Earnings / Revenue 17.21% 17.52%
Basic Earnings Per Share $0.82 $0.78
Diluted Earnings Per Share $0.81 $0.78
COMMON SHARES
Basic Shares Outstanding 504.0M shares 505.0M shares
Diluted Shares Outstanding 507.0M shares 507.0M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.00M $278.0M
YoY Change -68.35% -38.22%
Cash & Equivalents $88.00M $278.0M
Short-Term Investments
Other Short-Term Assets $46.00M $19.00M
YoY Change 142.11% -9.52%
Inventory $919.0M $936.0M
Prepaid Expenses $214.0M $200.0M
Receivables $1.240B $1.022B
Other Receivables $225.0M $127.0M
Total Short-Term Assets $3.215B $3.081B
YoY Change 4.35% -3.99%
LONG-TERM ASSETS
Property, Plant & Equipment $33.78B $30.53B
YoY Change 10.64% 6.0%
Goodwill $16.00M $16.00M
YoY Change 0.0% 0.0%
Intangibles $107.0M $88.00M
YoY Change 21.59% -42.86%
Long-Term Investments $923.0M $936.0M
YoY Change -1.39% -12.2%
Other Assets $265.0M $265.0M
YoY Change 0.0% 9.05%
Total Long-Term Assets $8.077B $7.543B
YoY Change 7.08% 0.91%
TOTAL ASSETS
Total Short-Term Assets $3.215B $3.081B
Total Long-Term Assets $8.077B $7.543B
Total Assets $45.07B $41.16B
YoY Change 9.51% 4.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.317B $1.305B
YoY Change 0.92% -4.26%
Accrued Expenses $195.0M $282.0M
YoY Change -30.85% -17.3%
Deferred Revenue
YoY Change
Short-Term Debt $419.0M $202.0M
YoY Change 107.43% -20.78%
Long-Term Debt Due $1.450B $1.250B
YoY Change 16.0%
Total Short-Term Liabilities $4.485B $3.831B
YoY Change 17.07% 36.63%
LONG-TERM LIABILITIES
Long-Term Debt $12.91B $11.27B
YoY Change 14.5% 5.39%
Other Long-Term Liabilities $224.0M $195.0M
YoY Change 14.87% -19.09%
Total Long-Term Liabilities $13.32B $12.93B
YoY Change 3.03% 3.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.485B $3.831B
Total Long-Term Liabilities $13.32B $12.93B
Total Liabilities $17.81B $16.76B
YoY Change 6.24% 9.43%
SHAREHOLDERS EQUITY
Retained Earnings $10.61B $9.140B
YoY Change 16.09% -3.59%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $811.0M $750.0M
YoY Change 8.13% 5.04%
Treasury Stock Shares 30.00M shares 29.00M shares
Shareholders Equity $14.36B $13.12B
YoY Change
Total Liabilities & Shareholders Equity $45.07B $41.16B
YoY Change 9.51% 4.23%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $412.0M $395.0M
YoY Change 4.3% 20.8%
Depreciation, Depletion And Amortization $294.0M $252.0M
YoY Change 16.67% -10.0%
Cash From Operating Activities $859.0M $978.0M
YoY Change -12.17% -5.87%
INVESTING ACTIVITIES
Capital Expenditures -$1.023B -$1.065B
YoY Change -3.94% 5.03%
Acquisitions
YoY Change
Other Investing Activities -$63.00M -$50.00M
YoY Change 26.0% 38.89%
Cash From Investing Activities -$1.086B -$1.115B
YoY Change -2.6% 6.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 222.0M -15.00M
YoY Change -1580.0% -91.98%
NET CHANGE
Cash From Operating Activities 859.0M 978.0M
Cash From Investing Activities -1.086B -1.115B
Cash From Financing Activities 222.0M -15.00M
Net Change In Cash -5.000M -152.0M
YoY Change -96.71% -23.23%
FREE CASH FLOW
Cash From Operating Activities $859.0M $978.0M
Capital Expenditures -$1.023B -$1.065B
Free Cash Flow $1.882B $2.043B
YoY Change -7.88% -0.49%

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CY2018Q3 us-gaap Derivative Liabilities Current
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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CY2017Q3 us-gaap Gain Loss On Investments
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us-gaap Gain Loss On Investments
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CY2018Q3 us-gaap Gain Loss On Investments
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us-gaap Gain Loss On Investments
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CY2017Q4 us-gaap Goodwill
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CY2018Q3 us-gaap Goodwill
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CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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CY2017Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2018Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2018Q3 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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us-gaap Income Taxes Paid Net
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us-gaap Increase Decrease In Accrued Taxes Payable
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us-gaap Increase Decrease In Accrued Taxes Payable
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us-gaap Increase Decrease In Income Taxes Receivable
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us-gaap Increase Decrease In Income Taxes Receivable
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us-gaap Increase Decrease In Margin Deposits Outstanding
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us-gaap Increase Decrease In Margin Deposits Outstanding
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us-gaap Increase Decrease In Other Current Assets And Liabilities Net
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us-gaap Increase Decrease In Other Current Assets And Liabilities Net
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us-gaap Increase Decrease In Other Operating Capital Net
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9000000 USD
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us-gaap Increase Decrease In Regulatory Assets And Liabilities
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us-gaap Increase Decrease In Regulatory Assets And Liabilities
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CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Interest Expense
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us-gaap Leveraged Leases Income Statement Net Income From Leveraged Leases
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CY2017Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
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CY2018Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Removal Costs
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Payments To Acquire Intangible Assets
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CY2017Q3 us-gaap Property Plant And Equipment Additions
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CY2017Q3 us-gaap Provision For Loan And Lease Losses
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us-gaap Provision For Loan Lease And Other Losses
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us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
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us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
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CY2017Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
2948000000 USD
CY2018Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
3286000000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
0 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
750000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
9878000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
10611000000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2043000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6278000000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2383000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6989000000 USD
CY2017Q3 us-gaap Revenues
Revenues
2254000000 USD
us-gaap Revenues
Revenues
6987000000 USD
CY2018Q3 us-gaap Revenues
Revenues
2394000000 USD
us-gaap Revenues
Revenues
7228000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13847000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14359000000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
48000000 USD
CY2018Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
36000000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
29000000 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
30000000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
763000000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
811000000 USD
CY2017Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
296000000 USD
CY2018Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
155000000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
28000000 USD
CY2017Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
693000000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
2128000000 USD
CY2018Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
742000000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
2221000000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
507000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
507000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
507000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
507000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
505000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
505000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
504000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
504000000 shares

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