2020 Q4 Form 10-K Financial Statement

#000141332921000007 Filed on February 09, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $7.444B $7.713B $7.642B
YoY Change -3.49% 2.85% 1.84%
Cost Of Revenue $2.572B $2.778B $2.605B
YoY Change -7.42% -0.11% -0.5%
Gross Profit $4.872B $4.935B $5.037B
YoY Change -1.28% 4.6% 3.09%
Gross Profit Margin 65.45% 63.98% 65.91%
Selling, General & Admin $1.871B $2.056B $2.212B
YoY Change -9.0% 2.95% 29.36%
% of Gross Profit 38.4% 41.66% 43.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $272.0M $255.0M $237.0M
YoY Change 6.67% 0.0% -3.66%
% of Gross Profit 5.58% 5.17% 4.71%
Operating Expenses $1.889B $2.072B $2.227B
YoY Change -8.83% 2.78% 28.73%
Operating Profit $2.983B $2.863B $2.788B
YoY Change 4.19% 5.96% -11.66%
Interest Expense -$164.0M -$136.0M -$132.0M
YoY Change 20.59% 8.8% -8.97%
% of Operating Profit -5.5% -4.75% -4.73%
Other Income/Expense, Net -$29.00M -$28.00M -$20.00M
YoY Change 3.57% 27.27% 185.71%
Pretax Income $2.712B $2.342B $2.636B
YoY Change 15.8% -8.34% -12.25%
Income Tax $613.0M $623.0M $635.0M
% Of Pretax Income 22.6% 26.6% 24.09%
Net Earnings $1.976B $1.616B $1.896B
YoY Change 22.28% -15.39% -15.62%
Net Earnings / Revenue 26.54% 20.95% 24.81%
Basic Earnings Per Share $1.27 $1.04 $1.22
Diluted Earnings Per Share $1.27 $1.04 $1.22
COMMON SHARES
Basic Shares Outstanding 1.557B shares 1.556B shares 1.556B shares
Diluted Shares Outstanding 1.556B shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.280B $6.861B $6.507B
YoY Change 6.11% 4.06% 10.66%
Cash & Equivalents $7.280B $6.861B $6.507B
Short-Term Investments
Other Short-Term Assets $860.0M $701.0M $810.0M
YoY Change 22.68% 45.74% 16.38%
Inventory $9.591B $9.235B $8.529B
Prepaid Expenses
Receivables $2.905B $3.080B $3.073B
Other Receivables $856.0M $637.0M $656.0M
Total Short-Term Assets $21.49B $20.51B $19.58B
YoY Change 4.77% 5.51% 5.59%
LONG-TERM ASSETS
Property, Plant & Equipment $6.365B $6.631B $6.636B
YoY Change -4.01% -7.92% -7.03%
Goodwill $5.964B $5.858B $5.720B
YoY Change 1.81% -18.51% -21.33%
Intangibles $2.019B $2.113B $2.088B
YoY Change -4.45% -7.24% -9.88%
Long-Term Investments $966.0M $1.053B $1.036B
YoY Change -8.26% 7.34% -2.26%
Other Assets $2.767B $1.971B $1.934B
YoY Change 40.39% 36.4% 9.58%
Total Long-Term Assets $23.32B $22.36B $21.85B
YoY Change 4.3% 9.83% 4.81%
TOTAL ASSETS
Total Short-Term Assets $21.49B $20.51B $19.58B
Total Long-Term Assets $23.32B $22.36B $21.85B
Total Assets $44.82B $42.88B $41.42B
YoY Change 4.52% 7.72% 5.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.780B $2.299B $1.704B
YoY Change 20.92% 11.17% 2.53%
Accrued Expenses $10.50B $9.425B $8.342B
YoY Change 11.36% 19.5% 7.36%
Deferred Revenue
YoY Change
Short-Term Debt $244.0M $338.0M $355.0M
YoY Change -27.81% -53.7% -34.86%
Long-Term Debt Due $3.124B $4.051B $5.035B
YoY Change -22.88% -0.07% 65.52%
Total Short-Term Liabilities $19.62B $18.83B $18.05B
YoY Change 4.15% 9.55% 15.68%
LONG-TERM LIABILITIES
Long-Term Debt $28.17B $26.66B $26.43B
YoY Change 5.67% -1.18% -6.22%
Other Long-Term Liabilities $6.979B $6.077B $5.199B
YoY Change 14.84% 10.98% 9.8%
Total Long-Term Liabilities $35.15B $32.73B $31.63B
YoY Change 7.37% 0.87% -3.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.62B $18.83B $18.05B
Total Long-Term Liabilities $35.15B $32.73B $31.63B
Total Liabilities $55.45B $52.47B $50.58B
YoY Change 5.66% 3.83% 2.54%
SHAREHOLDERS EQUITY
Retained Earnings $31.64B $30.99B $31.20B
YoY Change 2.1% -0.09% 1.04%
Common Stock $2.105B $2.019B $1.981B
YoY Change 4.26% 4.13% 3.93%
Preferred Stock
YoY Change
Treasury Stock (at cost) $35.13B $35.22B $35.22B
YoY Change -0.26% -0.23% -0.23%
Treasury Stock Shares 551.9M shares 553.4M shares 553.5M shares
Shareholders Equity -$12.57B -$11.58B -$11.01B
YoY Change
Total Liabilities & Shareholders Equity $44.82B $42.88B $41.42B
YoY Change 4.52% 7.72% 5.18%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $1.976B $1.616B $1.896B
YoY Change 22.28% -15.39% -15.62%
Depreciation, Depletion And Amortization $272.0M $255.0M $237.0M
YoY Change 6.67% 0.0% -3.66%
Cash From Operating Activities $3.162B $3.324B $2.083B
YoY Change -4.87% 37.24% 23.77%
INVESTING ACTIVITIES
Capital Expenditures -$140.0M -$156.0M -$194.0M
YoY Change -10.26% -53.29% -40.85%
Acquisitions
YoY Change
Other Investing Activities -$446.0M -$28.00M $316.0M
YoY Change 1492.86% -105.6% -306.54%
Cash From Investing Activities -$586.0M -$184.0M $122.0M
YoY Change 218.48% -210.84% -125.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -465.0M -2.959B 453.0M
YoY Change -84.29% 69.38% -123.98%
NET CHANGE
Cash From Operating Activities 3.162B 3.324B 2.083B
Cash From Investing Activities -586.0M -184.0M 122.0M
Cash From Financing Activities -465.0M -2.959B 453.0M
Net Change In Cash 2.111B 181.0M 2.658B
YoY Change 1066.3% -78.48% -486.9%
FREE CASH FLOW
Cash From Operating Activities $3.162B $3.324B $2.083B
Capital Expenditures -$140.0M -$156.0M -$194.0M
Free Cash Flow $3.302B $3.480B $2.277B
YoY Change -5.11% 26.27% 13.23%

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CY2020Q4 us-gaap Standard Product Warranty Accrual
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.018
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.013
CY2020 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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0.014
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0.012
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0.002
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0
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CY2019 us-gaap Effective Income Tax Rate Continuing Operations
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