2018 Q4 Form 10-Q Financial Statement

#000007800318000091 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $1.155B $13.30B $13.17B
YoY Change -91.23% 3.12% 0.94%
Cost Of Revenue $785.0M $2.694B $2.844B
YoY Change -72.4% 1.28% -7.81%
Gross Profit $370.0M $10.60B $10.32B
YoY Change -96.42% 3.6% 3.65%
Gross Profit Margin 32.03% 79.74% 78.4%
Selling, General & Admin $2.156B $3.494B $3.504B
YoY Change -38.47% 1.87% -1.55%
% of Gross Profit 582.7% 32.95% 33.94%
Research & Development $2.190B $2.008B $1.865B
YoY Change 17.43% 12.37% -0.85%
% of Gross Profit 591.89% 18.94% 18.06%
Depreciation & Amortization $1.641B $1.562B $1.566B
YoY Change 4.79% -0.76% 12.18%
% of Gross Profit 443.51% 14.73% 15.17%
Operating Expenses $5.145B $5.502B $5.369B
YoY Change -4.17% 5.46% -1.31%
Operating Profit -$4.775B $5.102B $4.955B
YoY Change -196.37% 1.65% 9.62%
Interest Expense -$280.0M $310.0M $320.0M
YoY Change -187.5% -0.64% 9.97%
% of Operating Profit 6.08% 6.46%
Other Income/Expense, Net -$1.000M $414.0M -$79.00M
YoY Change -98.73% 452.0% -94.42%
Pretax Income -$9.237B $4.177B $3.585B
YoY Change -357.66% 9.49% 123.5%
Income Tax -$940.0M $66.00M $727.0M
% Of Pretax Income 1.58% 20.28%
Net Earnings -$394.0M $4.114B $2.840B
YoY Change -113.87% 33.88% 109.59%
Net Earnings / Revenue -34.11% 30.94% 21.57%
Basic Earnings Per Share $0.70 $0.48
Diluted Earnings Per Share -$68.04K $0.69 $0.47
COMMON SHARES
Basic Shares Outstanding 5.780B shares 5.875B shares 5.951B shares
Diluted Shares Outstanding 5.986B shares 6.041B shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.23B $14.82B $16.70B
YoY Change -2.84% 3.36% 16.23%
Cash & Equivalents $1.139B $3.559B $1.342B
Short-Term Investments $15.09B $11.26B $15.36B
Other Short-Term Assets $2.461B $2.450B $2.289B
YoY Change 7.51% 30.53% 1.78%
Inventory $7.508B $8.184B $7.578B
Prepaid Expenses
Receivables $8.025B $10.02B $8.221B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $49.93B $41.58B $41.14B
YoY Change 21.35% 14.29% 5.63%
LONG-TERM ASSETS
Property, Plant & Equipment $13.39B $14.04B $13.87B
YoY Change -3.46% 4.86% 4.11%
Goodwill $42.93B $55.61B $55.95B
YoY Change -23.28% 1.09% 2.76%
Intangibles $35.21B $45.31B $48.74B
YoY Change -27.76% -11.77% -7.42%
Long-Term Investments $181.0M $6.595B $7.311B
YoY Change -97.52% -5.89% 2607.78%
Other Assets $2.799B $2.980B $3.227B
YoY Change -13.26% -14.02% -2.89%
Total Long-Term Assets $109.1B $126.4B $130.7B
YoY Change -16.52% -4.67% -1.8%
TOTAL ASSETS
Total Short-Term Assets $49.93B $41.58B $41.14B
Total Long-Term Assets $109.1B $126.4B $130.7B
Total Assets $159.0B $168.0B $171.8B
YoY Change -7.45% -0.59% -0.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.674B $4.297B $4.656B
YoY Change 0.39% 24.95% 2.65%
Accrued Expenses $2.397B $1.791B $1.932B
YoY Change 24.07% 10.22% -5.66%
Deferred Revenue
YoY Change
Short-Term Debt $4.055B $7.321B $6.376B
YoY Change -36.4% 13.64%
Long-Term Debt Due $4.776B $4.255B $3.546B
YoY Change 34.69% 38.51% -16.07%
Total Short-Term Liabilities $31.86B $29.01B $30.43B
YoY Change 4.7% 6.74% -2.21%
LONG-TERM LIABILITIES
Long-Term Debt $32.91B $33.65B $33.54B
YoY Change -1.88% -1.58% 6.82%
Other Long-Term Liabilities $5.850B $6.367B $6.149B
YoY Change -4.86% -1.13% -2.97%
Total Long-Term Liabilities $38.76B $40.02B $39.69B
YoY Change -2.34% -1.51% 5.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.86B $29.01B $30.43B
Total Long-Term Liabilities $38.76B $40.02B $39.69B
Total Liabilities $95.66B $96.17B $100.1B
YoY Change -4.47% -12.46% -10.41%
SHAREHOLDERS EQUITY
Retained Earnings $89.55B $92.00B $85.29B
YoY Change 5.0% 24.14% 18.83%
Common Stock $467.0M $466.0M $464.0M
YoY Change 0.65% 0.65% 0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost) $101.6B $96.57B $89.43B
YoY Change 13.63% 8.01% 6.0%
Treasury Stock Shares 3.615B shares 3.296B shares
Shareholders Equity $63.41B $71.32B $71.31B
YoY Change
Total Liabilities & Shareholders Equity $159.4B $167.8B $171.8B
YoY Change -7.2% -0.43% 0.11%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$394.0M $4.114B $2.840B
YoY Change -113.87% 33.88% 109.59%
Depreciation, Depletion And Amortization $1.641B $1.562B $1.566B
YoY Change 4.79% -0.76% 12.18%
Cash From Operating Activities $4.739B $3.848B $4.890B
YoY Change -3.09% 18.73% 3.23%
INVESTING ACTIVITIES
Capital Expenditures -$792.0M -$456.0M -$597.0M
YoY Change 32.66% -6.75% 38.19%
Acquisitions
YoY Change
Other Investing Activities $28.00M -$1.018B -$2.414B
YoY Change -101.16% -18.49% -38.87%
Cash From Investing Activities -$764.0M -$1.474B -$3.011B
YoY Change -74.63% -15.19% -31.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.407B -1.908B -1.711B
YoY Change 274.46% -36.17% 2.95%
NET CHANGE
Cash From Operating Activities 4.739B 3.848B 4.890B
Cash From Investing Activities -764.0M -1.474B -3.011B
Cash From Financing Activities -6.407B -1.908B -1.711B
Net Change In Cash -2.432B 466.0M 168.0M
YoY Change -1547.62% -131.36% -112.86%
FREE CASH FLOW
Cash From Operating Activities $4.739B $3.848B $4.890B
Capital Expenditures -$792.0M -$456.0M -$597.0M
Free Cash Flow $5.531B $4.304B $5.487B
YoY Change 0.8% 15.39% 6.15%

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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Other Comprehensive Income Loss Tax
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CY2017Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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CY2017Q4 us-gaap Other Short Term Borrowings
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us-gaap Payments For Repurchase Of Common Stock
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1000000000 USD
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188000000 USD
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47000000 USD
us-gaap Payments To Acquire Marketable Securities
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2526000000 USD
us-gaap Payments To Acquire Marketable Securities
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1503000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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us-gaap Preferred Stock Dividends Income Statement Impact
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CY2018Q3 us-gaap Preferred Stock Value
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566000000 USD
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2403000000 USD
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2174000000 USD
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us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
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us-gaap Proceeds From Short Term Debt
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us-gaap Proceeds From Short Term Debt
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us-gaap Profit Loss
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us-gaap Repayments Of Short Term Debt
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us-gaap Repayments Of Short Term Debt
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CY2017Q4 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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CY2018Q3 us-gaap Restructuring Reserve
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39000000 USD
us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
74000000 USD
CY2018Q3 us-gaap Restructuring Reserve Accelerated Depreciation
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us-gaap Restructuring Reserve Accelerated Depreciation
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43000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
91995000000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2017Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2017Q4 us-gaap Royalty Income Nonoperating
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140000000 USD
us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
331000000 USD
CY2018Q3 us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
143000000 USD
us-gaap Royalty Income Nonoperating
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360000000 USD
CY2018Q3 us-gaap Securities Received As Collateral
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CY2017Q4 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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3494000000 USD
us-gaap Selling General And Administrative Expense
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us-gaap Severance Costs1
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us-gaap Severance Costs1
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9200000000 USD
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CY2018Q1 us-gaap Treasury Stock Shares Acquired
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CY2017Q4 us-gaap Treasury Stock Value
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CY2018Q3 us-gaap Treasury Stock Value
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CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
89000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
85000000 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
112000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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99000000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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