2015 Q1 Form 10-Q Financial Statement

#000134943615000121 Filed on May 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $215.3M $443.1M
YoY Change -51.4% -13.41%
Cost Of Revenue $12.83M $12.48M
YoY Change 2.77% -23.51%
Gross Profit $202.5M $430.6M
YoY Change -52.97% -13.08%
Gross Profit Margin 94.04% 97.18%
Selling, General & Admin $36.10M $38.50M
YoY Change -6.23% -44.2%
% of Gross Profit 17.83% 8.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $119.5M $130.7M
YoY Change -8.61% -24.39%
% of Gross Profit 59.0% 30.36%
Operating Expenses $156.7M $175.0M
YoY Change -10.46% -30.45%
Operating Profit -$1.088B -$82.33M
YoY Change 1222.06% -77.6%
Interest Expense -$13.00M -$104.5M
YoY Change -87.56% -17.59%
% of Operating Profit
Other Income/Expense, Net -$63.38M -$59.95M
YoY Change 5.72% -64.17%
Pretax Income -$1.152B -$142.3M
YoY Change 709.56% -72.99%
Income Tax $40.00K $127.0K
% Of Pretax Income
Net Earnings -$1.035B -$136.3M
YoY Change 659.12% -71.56%
Net Earnings / Revenue -480.68% -30.77%
Basic Earnings Per Share -$2.19 -$0.31
Diluted Earnings Per Share -$2.19 -$0.31
COMMON SHARES
Basic Shares Outstanding 478.2M shares 484.8M shares
Diluted Shares Outstanding 478.2M shares 484.8M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.80M $1.180B
YoY Change -99.0% -9.86%
Cash & Equivalents $11.82M $1.180B
Short-Term Investments
Other Short-Term Assets $7.299M $25.82M
YoY Change -71.73% 40.05%
Inventory
Prepaid Expenses $9.893M $13.57M
Receivables $309.0M $293.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $547.1M $1.526B
YoY Change -64.15% -14.71%
LONG-TERM ASSETS
Property, Plant & Equipment $579.2M $559.3M
YoY Change 3.56% -6.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.70M $12.00M
YoY Change -2.5% 3.45%
Other Assets $130.7M $82.04M
YoY Change 59.37% -36.07%
Total Long-Term Assets $2.375B $5.352B
YoY Change -55.63% -9.12%
TOTAL ASSETS
Total Short-Term Assets $547.1M $1.526B
Total Long-Term Assets $2.375B $5.352B
Total Assets $2.922B $6.878B
YoY Change -57.52% -10.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $538.2M $590.1M
YoY Change -8.8% -12.24%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $607.6M $612.4M
YoY Change -0.78% -21.71%
LONG-TERM LIABILITIES
Long-Term Debt $3.371B $3.195B
YoY Change 5.49% 0.02%
Other Long-Term Liabilities $16.11M $20.17M
YoY Change -20.14% 10.94%
Total Long-Term Liabilities $3.387B $3.215B
YoY Change 5.33% 0.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $607.6M $612.4M
Total Long-Term Liabilities $3.387B $3.215B
Total Liabilities $4.050B $3.881B
YoY Change 4.37% -11.86%
SHAREHOLDERS EQUITY
Retained Earnings -$4.303B -$3.602B
YoY Change 19.45% 7.72%
Common Stock $479.0K $485.0K
YoY Change -1.24% 1.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.278M $6.898M
YoY Change 5.51% -23.13%
Treasury Stock Shares
Shareholders Equity $895.6M $1.690B
YoY Change
Total Liabilities & Shareholders Equity $6.057B $6.878B
YoY Change -11.94% -10.42%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$1.035B -$136.3M
YoY Change 659.12% -71.56%
Depreciation, Depletion And Amortization $119.5M $130.7M
YoY Change -8.61% -24.39%
Cash From Operating Activities $90.10M $90.45M
YoY Change -0.39% -25.53%
INVESTING ACTIVITIES
Capital Expenditures -$378.8M -$333.4M
YoY Change 13.62% -21.9%
Acquisitions $1.739M $2.352M
YoY Change -26.06% -53.41%
Other Investing Activities -$1.016M $2.352M
YoY Change -143.2% -53.41%
Cash From Investing Activities -$376.0M $374.0M
YoY Change -200.54% -82.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.350M
YoY Change -63.87%
Debt Paid & Issued, Net $245.0M $0.00
YoY Change -100.0%
Cash From Financing Activities $116.5M -$99.47M
YoY Change -217.13% -92.07%
NET CHANGE
Cash From Operating Activities $90.10M $90.45M
Cash From Investing Activities -$376.0M $374.0M
Cash From Financing Activities $116.5M -$99.47M
Net Change In Cash -$169.4M $365.0M
YoY Change -146.42% -63.46%
FREE CASH FLOW
Cash From Operating Activities $90.10M $90.45M
Capital Expenditures -$378.8M -$333.4M
Free Cash Flow $468.9M $423.9M
YoY Change 10.63% -22.71%

Facts In Submission

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CY2015Q1 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates.</font><font style="font-family:inherit;font-size:10pt;">&#160;The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The more significant areas requiring the use of assumptions, judgments and estimates include: oil, natural gas and natural gas liquids (&#8220;NGL&#8221;) reserves; cash flow estimates used in the valuation of guarantees; impairment tests of long-lived assets; depreciation, depletion and amortization; asset retirement obligations; assignments of fair value and allocations of purchase price in connection with business combinations; determinations of significant alterations to the full cost pool and related estimates of fair value used to allocate the full cost pool net book value to divested properties, as necessary; income taxes; valuation of derivative instruments; contingencies; and accrued revenue and related receivables. Although management believes these estimates are reasonable, actual results could differ significantly.</font></div></div>

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