2019 Q1 Form 10-Q Financial Statement

#000078878419000009 Filed on May 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $2.980B $2.818B
YoY Change 5.75% 8.76%
Cost Of Revenue $1.124B $952.0M
YoY Change 18.07%
Gross Profit $1.856B $1.866B
YoY Change -0.54%
Gross Profit Margin 62.28% 66.22%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $314.0M $280.0M
YoY Change 12.14% -66.18%
% of Gross Profit 16.92% 15.01%
Operating Expenses $2.194B $1.986B
YoY Change 10.47% -17.7%
Operating Profit $786.0M $832.0M
YoY Change -5.53% 367.42%
Interest Expense $133.0M $103.0M
YoY Change 29.13% 5.1%
% of Operating Profit 16.92% 12.38%
Other Income/Expense, Net $33.00M $32.00M
YoY Change 3.13% 0.0%
Pretax Income $849.0M $760.0M
YoY Change 11.71% 431.47%
Income Tax $149.0M $202.0M
% Of Pretax Income 17.55% 26.58%
Net Earnings $700.0M $558.0M
YoY Change 25.45% 389.47%
Net Earnings / Revenue 23.49% 19.8%
Basic Earnings Per Share $1.39 $1.11
Diluted Earnings Per Share $1.38 $1.10
COMMON SHARES
Basic Shares Outstanding 504.0M shares 504.0M shares
Diluted Shares Outstanding 507.0M shares 507.0M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.00M $118.0M
YoY Change -44.92% -38.86%
Cash & Equivalents $65.00M $118.0M
Short-Term Investments
Other Short-Term Assets $27.00M $19.00M
YoY Change 42.11% 137.5%
Inventory $718.0M $736.0M
Prepaid Expenses $112.0M $114.0M
Receivables $1.454B $1.320B
Other Receivables $149.0M $121.0M
Total Short-Term Assets $3.027B $2.806B
YoY Change 7.88% 3.31%
LONG-TERM ASSETS
Property, Plant & Equipment $35.04B $32.41B
YoY Change 8.13% 10.43%
Goodwill $16.00M $16.00M
YoY Change 0.0% 0.0%
Intangibles $156.0M $131.0M
YoY Change 19.08% 23.58%
Long-Term Investments $906.0M $938.0M
YoY Change -3.41% -6.29%
Other Assets $271.0M $272.0M
YoY Change -0.37% 5.43%
Total Long-Term Assets $7.942B $7.579B
YoY Change 4.79% -0.32%
TOTAL ASSETS
Total Short-Term Assets $3.027B $2.806B
Total Long-Term Assets $7.942B $7.579B
Total Assets $45.76B $42.79B
YoY Change 6.93% 7.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.135B $1.295B
YoY Change -12.36% 4.02%
Accrued Expenses $256.0M $320.0M
YoY Change -20.0% 5.61%
Deferred Revenue
YoY Change
Short-Term Debt $1.151B $594.0M
YoY Change 93.77% 88.57%
Long-Term Debt Due $900.0M $1.000B
YoY Change -10.0% 100.0%
Total Short-Term Liabilities $4.473B $3.948B
YoY Change 13.3% 26.9%
LONG-TERM LIABILITIES
Long-Term Debt $13.22B $12.07B
YoY Change 9.48% 10.77%
Other Long-Term Liabilities $206.0M $222.0M
YoY Change -7.21% 12.12%
Total Long-Term Liabilities $13.25B $12.67B
YoY Change 4.63% 0.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.473B $3.948B
Total Long-Term Liabilities $13.25B $12.67B
Total Liabilities $17.73B $16.61B
YoY Change 6.69% 5.41%
SHAREHOLDERS EQUITY
Retained Earnings $11.13B $10.39B
YoY Change 7.13% 14.5%
Common Stock $4.969B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $839.0M $816.0M
YoY Change 2.82% 9.83%
Treasury Stock Shares 30.00M shares 30.00M shares
Shareholders Equity $14.81B $14.10B
YoY Change
Total Liabilities & Shareholders Equity $45.76B $42.79B
YoY Change 6.93% 7.88%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $700.0M $558.0M
YoY Change 25.45% 389.47%
Depreciation, Depletion And Amortization $314.0M $280.0M
YoY Change 12.14% -66.18%
Cash From Operating Activities $1.218B $1.140B
YoY Change 6.84% -4.76%
INVESTING ACTIVITIES
Capital Expenditures $795.0M $1.053B
YoY Change -24.5% -0.85%
Acquisitions
YoY Change
Other Investing Activities -$10.00M -$7.000M
YoY Change 42.86% 0.0%
Cash From Investing Activities -$816.0M -$1.073B
YoY Change -23.95% -0.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$505.0M -$248.0M
YoY Change 103.63% -28.53%
NET CHANGE
Cash From Operating Activities $1.218B $1.140B
Cash From Investing Activities -$816.0M -$1.073B
Cash From Financing Activities -$505.0M -$248.0M
Net Change In Cash -$103.0M -$181.0M
YoY Change -43.09% -20.96%
FREE CASH FLOW
Cash From Operating Activities $1.218B $1.140B
Capital Expenditures $795.0M $1.053B
Free Cash Flow $423.0M $87.00M
YoY Change 386.21% -35.56%

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1.39
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2018Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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CY2019Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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4000000 USD
CY2018Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
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-1000000 USD
CY2019Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
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-3000000 USD
CY2018Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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-1000000 USD
CY2019Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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1000000 USD
CY2018Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
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CY2019Q1 us-gaap Gain Loss On Investments
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128000000 USD
CY2018Q4 us-gaap Goodwill
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16000000 USD
CY2019Q1 us-gaap Goodwill
Goodwill
16000000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
760000000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
849000000 USD
CY2018Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2000000 USD
CY2019Q1 us-gaap Income Loss From Equity Method Investments
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CY2018Q1 us-gaap Income Tax Expense Benefit
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202000000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
149000000 USD
CY2018Q1 us-gaap Income Taxes Paid Net
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CY2019Q1 us-gaap Income Taxes Paid Net
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CY2018Q4 us-gaap Income Taxes Receivable
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242000000 USD
CY2019Q1 us-gaap Income Taxes Receivable
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149000000 USD
CY2018Q1 us-gaap Increase Decrease In Accrued Taxes Payable
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125000000 USD
CY2019Q1 us-gaap Increase Decrease In Accrued Taxes Payable
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26000000 USD
CY2018Q1 us-gaap Increase Decrease In Income Taxes Receivable
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-6000000 USD
CY2019Q1 us-gaap Increase Decrease In Income Taxes Receivable
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-77000000 USD
CY2018Q1 us-gaap Increase Decrease In Margin Deposits Outstanding
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-25000000 USD
CY2019Q1 us-gaap Increase Decrease In Margin Deposits Outstanding
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-190000000 USD
CY2018Q1 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
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-160000000 USD
CY2019Q1 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
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67000000 USD
CY2018Q1 us-gaap Increase Decrease In Other Operating Capital Net
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-2000000 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Capital Net
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-30000000 USD
CY2018Q1 us-gaap Increase Decrease In Regulatory Assets And Liabilities
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6000000 USD
CY2019Q1 us-gaap Increase Decrease In Regulatory Assets And Liabilities
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CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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3000000 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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3000000 shares
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2019Q1 us-gaap Intangible Assets Net Excluding Goodwill
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CY2018Q1 us-gaap Interest Expense
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CY2019Q1 us-gaap Interest Expense
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CY2018Q1 us-gaap Interest Paid Net
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73000000 USD
CY2019Q1 us-gaap Interest Paid Net
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91000000 USD
CY2018Q4 us-gaap Interest Payable Current
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110000000 USD
CY2019Q1 us-gaap Long Term Debt Noncurrent
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CY2019Q1 us-gaap Interest Payable Current
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158000000 USD
CY2018Q4 us-gaap Inventory Raw Materials And Supplies
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571000000 USD
CY2019Q1 us-gaap Inventory Raw Materials And Supplies
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584000000 USD
CY2018Q1 us-gaap Investment Income Interest And Dividend
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12000000 USD
CY2019Q1 us-gaap Investment Income Interest And Dividend
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14000000 USD
CY2019Q1 us-gaap Lease Cost
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20000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
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364000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
196000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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31000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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24000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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26000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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29000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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30000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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28000000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received
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CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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17000000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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20000000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
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19000000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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18000000 USD
CY2018Q1 us-gaap Leveraged Leases Income Statement Net Income From Leveraged Leases
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CY2018Q4 us-gaap Liabilities And Stockholders Equity
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CY2019Q1 us-gaap Liabilities And Stockholders Equity
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CY2019Q1 us-gaap Liabilities Current
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CY2018Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
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CY2019Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
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CY2019Q1 us-gaap Line Of Credit Facility Fair Value Of Amount Outstanding
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CY2019Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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CY2019Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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CY2019Q1 us-gaap Long Term Debt
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CY2019Q1 us-gaap Long Term Debt Fair Value
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CY2018Q4 us-gaap Long Term Investments
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CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
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1140000000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2018Q1 us-gaap Net Income Loss
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CY2019Q1 us-gaap Net Income Loss
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CY2018Q1 us-gaap Operating Expenses
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CY2019Q1 us-gaap Operating Expenses
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CY2018Q1 us-gaap Operating Income Loss
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CY2019Q1 us-gaap Operating Income Loss
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CY2019Q1 us-gaap Operating Lease Cost
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CY2019Q1 us-gaap Operating Lease Liability
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CY2019Q1 us-gaap Operating Lease Liability Noncurrent
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CY2019Q1 us-gaap Operating Lease Payments
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CY2018Q4 us-gaap Operating Lease Right Of Use Asset
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CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2019Q1 us-gaap Operating Leases Income Statement Lease Revenue
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CY2019Q1 us-gaap Operating Leases Income Statement Minimum Lease Revenue
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CY2019Q1 us-gaap Other Assets Current
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CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2019Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2019Q1 us-gaap Other Liabilities Current
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CY2019Q1 us-gaap Other Liabilities Noncurrent
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CY2018Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
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CY2019Q1 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
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CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2018Q1 us-gaap Payments For Proceeds From Removal Costs
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CY2019Q1 us-gaap Payments For Proceeds From Removal Costs
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CY2018Q1 us-gaap Payments Of Dividends Common Stock
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CY2019Q1 us-gaap Payments Of Dividends Common Stock
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CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities
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CY2019Q1 us-gaap Payments To Acquire Available For Sale Securities
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CY2018Q1 us-gaap Payments To Acquire Intangible Assets
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CY2019Q1 us-gaap Payments To Acquire Intangible Assets
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CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2018Q1 us-gaap Pension And Other Postretirement Benefit Contributions
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CY2019Q1 us-gaap Pension And Other Postretirement Benefit Contributions
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CY2018Q1 us-gaap Pension And Other Postretirement Benefit Expense
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CY2019Q1 us-gaap Pension And Other Postretirement Benefit Expense
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CY2019Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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CY2018Q4 us-gaap Prepaid Expense Current
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CY2019Q1 us-gaap Prepaid Expense Current
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CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2018Q1 us-gaap Proceeds From Repayments Of Commercial Paper
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CY2019Q1 us-gaap Proceeds From Repayments Of Commercial Paper
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CY2018Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2019Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2018Q1 us-gaap Property Plant And Equipment Additions
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CY2019Q1 us-gaap Property Plant And Equipment Additions
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CY2018Q1 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
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CY2019Q1 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
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CY2019Q1 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
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CY2019Q1 us-gaap Public Utilities Property Plant And Equipment Net
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CY2018Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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CY2019Q1 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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CY2019Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2019Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2018Q4 us-gaap Regulatory Assets Current
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CY2019Q1 us-gaap Regulatory Assets Current
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CY2018Q4 us-gaap Regulatory Assets Noncurrent
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CY2019Q1 us-gaap Regulatory Assets Noncurrent
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CY2019Q1 us-gaap Regulatory Liability Current
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CY2018Q4 us-gaap Regulatory Liability Noncurrent
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CY2019Q1 us-gaap Regulatory Liability Noncurrent
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CY2018Q1 us-gaap Repayments Of Other Long Term Debt
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CY2019Q1 us-gaap Repayments Of Other Long Term Debt
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350000000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2018Q1 us-gaap Revenues
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CY2019Q1 us-gaap Revenues
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CY2019Q1 us-gaap Short Term Lease Cost
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CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q1 us-gaap Stockholders Equity Other
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CY2019Q1 us-gaap Stockholders Equity Other
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42000000 USD
CY2018Q4 us-gaap Taxes Payable Current
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CY2019Q1 us-gaap Taxes Payable Current
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73000000 USD
CY2018Q4 us-gaap Treasury Stock Shares
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30000000 shares
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
30000000 shares
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
808000000 USD
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
839000000 USD
CY2018Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
240000000 USD
CY2019Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
188000000 USD
CY2018Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
0 USD
CY2019Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-5000000 USD
CY2018Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
754000000 USD
CY2019Q1 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
756000000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
3000000 USD
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
507000000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
507000000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
504000000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
504000000 shares

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