2019 Q1 Form 10-Q Financial Statement

#000161875519000010 Filed on April 29, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q1
Revenue $1.266B $1.385B $1.254B
YoY Change 0.96% 12.24% 25.27%
Cost Of Revenue $406.0M $429.0M
YoY Change -5.36% 1.32%
Gross Profit $860.0M $825.0M
YoY Change 4.24% 42.83%
Gross Profit Margin 67.93% 65.79%
Selling, General & Admin $312.0M $301.0M
YoY Change 3.65% 146.92%
% of Gross Profit 36.28% 36.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $312.0M $301.0M
YoY Change 3.65% 146.92%
Operating Profit $434.0M $516.0M $421.0M
YoY Change 3.09% 2.18% 25.3%
Interest Expense -$132.0M -$140.0M
YoY Change -5.71% 25.67%
% of Operating Profit -30.41% -33.25%
Other Income/Expense, Net
YoY Change
Pretax Income $302.0M $281.0M
YoY Change 7.47% 37.48%
Income Tax $56.00M $2.000M
% Of Pretax Income 18.54% 0.71%
Net Earnings $246.0M $301.0M $279.0M
YoY Change -11.83% -47.92% 67.07%
Net Earnings / Revenue 19.43% 21.73% 22.25%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $913.0M $913.0M $1.097B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $75.00M $75.00M $78.00M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.500B $1.500B $1.727B
YoY Change -13.14% -14.29% 10.53%
LONG-TERM ASSETS
Property, Plant & Equipment $2.022B $1.996B $2.133B
YoY Change -5.2% -6.42% -0.35%
Goodwill $5.486B $5.486B $5.782B
YoY Change -5.12% -5.12% -0.09%
Intangibles $10.33B $10.46B $11.06B
YoY Change -6.62% -5.41% 7.47%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0%
Other Assets $642.0M $642.0M $533.0M
YoY Change 20.45% 50.7% 81.29%
Total Long-Term Assets $19.68B $18.64B $19.58B
YoY Change 0.49% -4.28% 1.67%
TOTAL ASSETS
Total Short-Term Assets $1.500B $1.500B $1.727B
Total Long-Term Assets $19.68B $18.64B $19.58B
Total Assets $21.18B $20.14B $21.31B
YoY Change -0.61% -5.1% 2.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $513.0M $513.0M $496.0M
YoY Change 3.43% 3.43% 26.72%
Accrued Expenses $689.0M $637.0M $636.6M
YoY Change 8.23% -26.44% 28.24%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $68.00M $70.00M $56.60M
YoY Change 20.14% 22.81% -37.6%
Total Short-Term Liabilities $1.522B $1.408B $1.621B
YoY Change -6.11% -14.92% 27.15%
LONG-TERM LIABILITIES
Long-Term Debt $11.76B $11.82B $11.80B
YoY Change -0.36% 0.19% 23.81%
Other Long-Term Liabilities $1.415B $1.547B $1.881B
YoY Change -24.77% 6.32% 133.37%
Total Long-Term Liabilities $13.17B $13.37B $13.68B
YoY Change -3.72% 0.86% 32.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.522B $1.408B $1.621B
Total Long-Term Liabilities $13.17B $13.37B $13.68B
Total Liabilities $17.54B $16.52B $17.00B
YoY Change 3.18% -0.84% 22.03%
SHAREHOLDERS EQUITY
Retained Earnings $0.00 $0.00 $0.00
YoY Change
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.637B $3.616B $4.310B
YoY Change
Total Liabilities & Shareholders Equity $21.18B $20.14B $21.31B
YoY Change -0.61% -5.1% 2.33%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q1
OPERATING ACTIVITIES
Net Income $246.0M $301.0M $279.0M
YoY Change -11.83% -47.92% 67.07%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $154.0M -$142.0M
YoY Change -208.45% -145.18%
INVESTING ACTIVITIES
Capital Expenditures $5.000M $7.000M
YoY Change -28.57% 70.73%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$1.000M -$4.000M
YoY Change -75.0% -600.0%
Cash From Investing Activities $11.00M $2.000M
YoY Change 450.0% -100.12%
FINANCING ACTIVITIES
Cash Dividend Paid $207.0M $97.00M
YoY Change 113.4% -33.52%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $23.00M $22.00M
YoY Change 4.55% -93.12%
Cash From Financing Activities -$182.0M -$128.0M
YoY Change 42.19% -115.82%
NET CHANGE
Cash From Operating Activities $154.0M -$142.0M
Cash From Investing Activities $11.00M $2.000M
Cash From Financing Activities -$182.0M -$128.0M
Net Change In Cash -$11.00M -$268.0M
YoY Change -95.9% -46.52%
FREE CASH FLOW
Cash From Operating Activities $154.0M -$142.0M
Capital Expenditures $5.000M $7.000M
Free Cash Flow $149.0M -$149.0M
YoY Change -200.0% -148.03%

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CY2019Q1 us-gaap Due From Related Parties Noncurrent
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CY2019Q1 us-gaap Due To Related Parties Noncurrent
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60000000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
63000000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
60000000 USD
CY2018Q1 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
25000000 USD
CY2019Q1 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
42000000 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
6000000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
279000000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
246000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1996000000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2011000000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2022000000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
22000000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
23000000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
22000000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
23000000 USD
CY2018Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
11000000 USD
CY2019Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
9000000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
0 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
0 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
480000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
29000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
37000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
36000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
35000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
34000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
309000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P9M
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2018Q1 us-gaap Revenues
Revenues
1254000000 USD
CY2019Q1 us-gaap Revenues
Revenues
1266000000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1000000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
30000000 USD
CY2019Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
57000000 USD
CY2019Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
5000000 USD
CY2019Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
5000000 USD
CY2019Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
11000000 USD
CY2019Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
19000000 USD
CY2019Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
7000000 USD
CY2019Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
10000000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
301000000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
312000000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
13000000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
22000000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2019Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
3616000000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
3637000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4561000000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4242000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3618000000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3773000000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3639000000 USD
CY2019Q1 us-gaap Sublease Income
SubleaseIncome
155000000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
50000000 USD

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