2019 Q1 Form 10-Q Financial Statement

#000082922419000024 Filed on April 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q3 2018 Q2
Revenue $6.306B $6.304B $6.032B
YoY Change 11.34% 13.94%
Cost Of Revenue $2.012B $2.553B $2.515B
YoY Change 13.53% 17.44%
Gross Profit $4.294B $3.750B $3.517B
YoY Change 9.9% 11.55%
Gross Profit Margin 68.09% 59.49% 58.31%
Selling, General & Admin $475.6M $468.7M $405.8M
YoY Change 44.22% 24.17%
% of Gross Profit 11.08% 12.5% 11.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $373.0M $344.0M $346.0M
YoY Change 29.32% 29.59%
% of Gross Profit 8.69% 9.17% 9.84%
Operating Expenses $914.1M $946.7M $871.7M
YoY Change 31.47% 21.9%
Operating Profit $857.7M $956.6M $772.5M
YoY Change -8.39% -17.42%
Interest Expense $73.90M $45.40M $35.10M
YoY Change 93.19% 53.28%
% of Operating Profit 8.62% 4.75% 4.54%
Other Income/Expense, Net
YoY Change
Pretax Income $820.0M $1.027B $815.6M
YoY Change -2.43% -16.81%
Income Tax $161.2M $174.8M $155.8M
% Of Pretax Income 19.66% 17.02% 19.1%
Net Earnings $663.2M $755.8M $660.1M
YoY Change 9.28% 1.12%
Net Earnings / Revenue 10.52% 11.99% 10.94%
Basic Earnings Per Share $0.54 $0.62 $0.47
Diluted Earnings Per Share $0.53 $0.56 $0.47
COMMON SHARES
Basic Shares Outstanding 1.239B shares 1.377B shares 1.395B shares
Diluted Shares Outstanding 1.251B shares 1.389B shares 1.407B shares

Balance Sheet

Concept 2019 Q1 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.132B $1.977B $2.243B
YoY Change -34.23% -6.35%
Cash & Equivalents $2.055B $8.756B $2.142B
Short-Term Investments $77.00M $85.00M $101.0M
Other Short-Term Assets $478.0M $408.0M $349.0M
YoY Change 14.93% -14.88%
Inventory $1.443B $1.401B $1.376B
Prepaid Expenses
Receivables $703.6M $693.1M $869.6M
Other Receivables $196.0M $956.0M $819.0M
Total Short-Term Assets $4.952B $12.49B $5.657B
YoY Change 126.78% 14.99%
LONG-TERM ASSETS
Property, Plant & Equipment $6.136B $5.929B $5.577B
YoY Change 26.16% 22.18%
Goodwill $3.604B $3.542B $3.794B
YoY Change 128.62% 131.9%
Intangibles $918.3M $1.042B $1.228B
YoY Change 129.16% 162.65%
Long-Term Investments $309.3M $296.0M $591.0M
YoY Change -74.01% -59.55%
Other Assets $464.5M $412.2M $541.8M
YoY Change 12.84% 47.23%
Total Long-Term Assets $12.69B $11.66B $11.90B
YoY Change 29.39% 27.8%
TOTAL ASSETS
Total Short-Term Assets $4.952B $12.49B $5.657B
Total Long-Term Assets $12.69B $11.66B $11.90B
Total Assets $17.64B $24.16B $17.55B
YoY Change 66.34% 23.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.097B $1.179B $869.7M
YoY Change 67.94% 26.61%
Accrued Expenses $2.569B $1.753B $2.262B
YoY Change -1.02% 30.68%
Deferred Revenue
YoY Change
Short-Term Debt $75.00M $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $349.9M $349.7M
YoY Change
Total Short-Term Liabilities $5.273B $5.684B $5.187B
YoY Change 41.17% 29.67%
LONG-TERM LIABILITIES
Long-Term Debt $9.142B $9.090B $6.185B
YoY Change 130.98% 56.88%
Other Long-Term Liabilities $8.262B $1.122B $1.120B
YoY Change 57.78% 66.26%
Total Long-Term Liabilities $9.142B $10.21B $7.306B
YoY Change 119.78% 58.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.273B $5.684B $5.187B
Total Long-Term Liabilities $9.142B $10.21B $7.306B
Total Liabilities $22.68B $22.98B $12.84B
YoY Change 164.96% 48.97%
SHAREHOLDERS EQUITY
Retained Earnings -$4.808B $1.457B $4.636B
YoY Change -75.65% -19.64%
Common Stock $42.30M $42.40M $42.50M
YoY Change -0.24% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.037B $1.170B $4.711B
YoY Change
Total Liabilities & Shareholders Equity $17.64B $24.16B $17.55B
YoY Change 66.34% 23.37%

Cashflow Statement

Concept 2019 Q1 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $663.2M $755.8M $660.1M
YoY Change 9.28% 1.12%
Depreciation, Depletion And Amortization $373.0M $344.0M $346.0M
YoY Change 29.32% 29.59%
Cash From Operating Activities $390.0M $1.215B $455.0M
YoY Change 4.11% -1.52%
INVESTING ACTIVITIES
Capital Expenditures -$415.0M -$511.0M -$468.0M
YoY Change 32.04% 41.39%
Acquisitions
YoY Change
Other Investing Activities $214.0M $53.00M -$1.166B
YoY Change -81.27% -798.2%
Cash From Investing Activities -$201.0M -$458.0M -$1.634B
YoY Change 336.19% 902.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.919B -955.0M -373.0M
YoY Change 83.3% 104.95%
NET CHANGE
Cash From Operating Activities 390.0M 1.215B 455.0M
Cash From Investing Activities -201.0M -458.0M -1.634B
Cash From Financing Activities -2.919B -955.0M -373.0M
Net Change In Cash -2.730B -198.0M -1.552B
YoY Change -136.6% -1426.5%
FREE CASH FLOW
Cash From Operating Activities $390.0M $1.215B $455.0M
Capital Expenditures -$415.0M -$511.0M -$468.0M
Free Cash Flow $805.0M $1.726B $923.0M
YoY Change 11.07% 16.39%

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AllocatedShareBasedCompensationExpense
116500000 USD
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.245
CY2019Q1 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
1300000000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
663200000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
660100000 USD
us-gaap Net Income Loss
NetIncomeLoss
1423600000 USD
us-gaap Net Income Loss
NetIncomeLoss
2910300000 USD
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1239200000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1394900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1240600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1407900000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11500000 shares
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11700000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11500000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
12600000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1250700000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1406600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1252100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1420500000 shares
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.54
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.07
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.05
us-gaap Factors Used To Identify Entitys Reportable Segments
FactorsUsedToIdentifyEntitysReportableSegments
Segment information is prepared on the same basis that our ceo, who is our chief operating decision maker, manages the segments, evaluates financial results and makes key operating decisions.
CY2019Q1 us-gaap Revenues
Revenues
6305900000 USD
CY2018Q2 us-gaap Revenues
Revenues
6031800000 USD
us-gaap Revenues
Revenues
12938700000 USD
us-gaap Revenues
Revenues
12105500000 USD
CY2019Q1 us-gaap Revenues
Revenues
6305900000 USD
CY2019Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
356200000 USD
CY2019Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
62300000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
857700000 USD
CY2018Q2 us-gaap Revenues
Revenues
6031800000 USD
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
331600000 USD
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
52700000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
772500000 USD
us-gaap Revenues
Revenues
12938700000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
689600000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
130100000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1873400000 USD
us-gaap Revenues
Revenues
12105500000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
590400000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
142100000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1888600000 USD

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