2015 Q2 Form 10-Q Financial Statement

#000162828015005542 Filed on July 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $397.6M $331.2M
YoY Change 20.05% 32.35%
Cost Of Revenue $169.3M $81.39M
YoY Change 108.07% -21.71%
Gross Profit $228.2M $249.8M
YoY Change -8.63% 70.77%
Gross Profit Margin 57.4% 75.42%
Selling, General & Admin $67.50M $49.80M
YoY Change 35.54% -22.55%
% of Gross Profit 29.58% 19.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.67M $33.48M
YoY Change 84.2% 5.38%
% of Gross Profit 27.02% 13.4%
Operating Expenses $54.67M $45.84M
YoY Change 19.27% 7.13%
Operating Profit $173.6M $203.9M
YoY Change -14.9% 97.08%
Interest Expense $9.862M $4.292M
YoY Change 129.78% -0.19%
% of Operating Profit 5.68% 2.1%
Other Income/Expense, Net
YoY Change
Pretax Income $89.15M $162.2M
YoY Change -45.04% 253.52%
Income Tax -$1.842M -$204.0K
% Of Pretax Income -2.07% -0.13%
Net Earnings $78.83M $126.3M
YoY Change -37.61% 268.48%
Net Earnings / Revenue 19.83% 38.15%
Basic Earnings Per Share $1.60 $3.00
Diluted Earnings Per Share $1.59 $2.95
COMMON SHARES
Basic Shares Outstanding 45.30M shares 39.74M shares
Diluted Shares Outstanding 45.66M shares 40.40M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $398.1M $294.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $149.0M $58.00M
YoY Change 156.9% -81.41%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $126.1M $110.4M
YoY Change 14.3% 18.6%
Other Assets
YoY Change
Total Long-Term Assets $11.90B $8.458B
YoY Change 40.75% 3.71%
TOTAL ASSETS
Total Short-Term Assets $149.0M $58.00M
Total Long-Term Assets $11.90B $8.458B
Total Assets $12.05B $8.516B
YoY Change 41.54% 0.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $511.0M $201.0M
YoY Change 154.23% -56.68%
LONG-TERM LIABILITIES
Long-Term Debt $972.0M $249.0M
YoY Change 290.36% -0.4%
Other Long-Term Liabilities $229.0M $165.0M
YoY Change 38.79% -23.61%
Total Long-Term Liabilities $1.201B $414.0M
YoY Change 190.1% -11.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $511.0M $201.0M
Total Long-Term Liabilities $1.201B $414.0M
Total Liabilities $6.227B $3.656B
YoY Change 70.34% -8.57%
SHAREHOLDERS EQUITY
Retained Earnings $3.637B $3.392B
YoY Change 7.25% 8.74%
Common Stock $46.01M $40.52M
YoY Change 13.55% -8.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.837B $3.836B
YoY Change
Total Liabilities & Shareholders Equity $12.05B $8.516B
YoY Change 41.54% 0.57%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $78.83M $126.3M
YoY Change -37.61% 268.48%
Depreciation, Depletion And Amortization $61.67M $33.48M
YoY Change 84.2% 5.38%
Cash From Operating Activities $89.20M $126.8M
YoY Change -29.65% 159.3%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$372.4M -$92.10M
YoY Change 304.34% 51.48%
Cash From Investing Activities -$372.4M -$92.10M
YoY Change 304.34% 51.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 121.3M -65.20M
YoY Change -286.04% 84.7%
NET CHANGE
Cash From Operating Activities 89.20M 126.8M
Cash From Investing Activities -372.4M -92.10M
Cash From Financing Activities 121.3M -65.20M
Net Change In Cash -161.9M -30.50M
YoY Change 430.82% -35.38%
FREE CASH FLOW
Cash From Operating Activities $89.20M $126.8M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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186062000 USD
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361754000 USD
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254350000 USD
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7960000 USD
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0 USD
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0 USD
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122536000 USD
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363029000 USD
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201831000 USD
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451635000 USD
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0 USD
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136464000 USD
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3637454000 USD
CY2014Q2 us-gaap Revenues
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us-gaap Revenues
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CY2014Q4 us-gaap Securities For Reverse Repurchase Agreements
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SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
202420000 USD
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301418000 USD
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SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
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SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
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CY2015Q2 us-gaap Trading Securities
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CY2014Q2 us-gaap Underwriting Expense Ratio
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us-gaap Underwriting Expense Ratio
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UndistributedEarnings
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UndistributedEarnings
72414000 USD
us-gaap Undistributed Earnings
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CY2014Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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1557000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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3577000 USD
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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3238000 USD
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2220000 USD
us-gaap Unrealized Gain Loss On Securities
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CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41149000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45657000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42839000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39736000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40487000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45303000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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42467000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">USE OF ESTIMATES IN FINANCIAL STATEMENTS</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The major estimates reflected in the Company&#8217;s consolidated financial statements include, but are not limited to, the reserve for claims and claim expenses; reinsurance recoverables, including allowances for reinsurance recoverables deemed uncollectible; estimates of written and earned premiums; fair value, including the fair value of investments, financial instruments and derivatives; impairment charges and the Company&#8217;s deferred tax valuation allowance.</font></div></div>

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