2018 Q3 Form 10-Q Financial Statement

#000009212218000062 Filed on November 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $6.159B $6.201B
YoY Change -0.68% -1.01%
Cost Of Revenue $481.0M $480.0M
YoY Change 0.21% 8.11%
Gross Profit $5.678B $5.721B
YoY Change -0.75% -1.7%
Gross Profit Margin 92.19% 92.26%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $897.0M $881.0M
YoY Change 1.82% 9.71%
% of Gross Profit 15.8% 15.4%
Operating Expenses $3.820B $3.696B
YoY Change 3.35% -3.12%
Operating Profit $2.174B $1.991B
YoY Change 9.19% 3.86%
Interest Expense -$458.0M -$407.0M
YoY Change 12.53% 8.82%
% of Operating Profit -21.07% -20.44%
Other Income/Expense, Net -$329.0M -$292.0M
YoY Change 12.67% -2.99%
Pretax Income $1.845B $1.699B
YoY Change 8.59% 5.14%
Income Tax $623.0M $590.0M
% Of Pretax Income 33.77% 34.73%
Net Earnings $1.164B $1.069B
YoY Change 8.89% -9.18%
Net Earnings / Revenue 18.9% 17.24%
Basic Earnings Per Share $1.14 $1.07
Diluted Earnings Per Share $1.13 $1.06
COMMON SHARES
Basic Shares Outstanding 1.023B shares 1.003B shares
Diluted Shares Outstanding 1.029B shares 1.010B shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.847B $1.841B
YoY Change 0.33% -31.02%
Cash & Equivalents $1.847B $1.841B
Short-Term Investments
Other Short-Term Assets $232.0M $209.0M
YoY Change 11.0% 24.4%
Inventory $2.294B $2.701B
Prepaid Expenses $354.0M $365.0M
Receivables $1.697B $1.701B
Other Receivables $1.293B $1.205B
Total Short-Term Assets $9.384B $9.202B
YoY Change 1.98% -4.72%
LONG-TERM ASSETS
Property, Plant & Equipment $78.43B $79.74B
YoY Change -1.64% 5.54%
Goodwill $5.315B $6.267B
YoY Change -15.19% 0.71%
Intangibles $674.0M $902.0M
YoY Change -25.28% -4.25%
Long-Term Investments $1.569B $1.637B
YoY Change -4.15% 6.23%
Other Assets $1.436B $1.513B
YoY Change -5.09% 33.54%
Total Long-Term Assets $102.3B $101.1B
YoY Change 1.21% 4.56%
TOTAL ASSETS
Total Short-Term Assets $9.384B $9.202B
Total Long-Term Assets $102.3B $101.1B
Total Assets $111.7B $110.3B
YoY Change 1.27% 3.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.246B $2.353B
YoY Change -4.55% 35.85%
Accrued Expenses $2.282B $1.836B
YoY Change 24.29% 2.74%
Deferred Revenue
YoY Change
Short-Term Debt $2.564B $2.579B
YoY Change -0.58% 54.43%
Long-Term Debt Due $3.013B $3.505B
YoY Change -14.04% 55.5%
Total Short-Term Liabilities $12.97B $12.60B
YoY Change 2.87% 19.27%
LONG-TERM LIABILITIES
Long-Term Debt $41.43B $44.04B
YoY Change -5.94% 6.0%
Other Long-Term Liabilities $454.0M $1.048B
YoY Change -56.68% 63.49%
Total Long-Term Liabilities $454.0M $1.048B
YoY Change -56.68% 63.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.97B $12.60B
Total Long-Term Liabilities $454.0M $1.048B
Total Liabilities $83.33B $83.96B
YoY Change -0.75% 4.93%
SHAREHOLDERS EQUITY
Retained Earnings $9.048B $8.981B
YoY Change 0.75% -15.95%
Common Stock $16.05B $15.32B
YoY Change 4.75% 8.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $39.00M $35.00M
YoY Change 11.43% 16.67%
Treasury Stock Shares 1.000M shares 900.0K shares
Shareholders Equity $24.88B $24.08B
YoY Change
Total Liabilities & Shareholders Equity $111.7B $110.3B
YoY Change 1.27% 3.72%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $1.164B $1.069B
YoY Change 8.89% -9.18%
Depreciation, Depletion And Amortization $897.0M $881.0M
YoY Change 1.82% 9.71%
Cash From Operating Activities $2.326B $2.512B
YoY Change -7.4% 16.51%
INVESTING ACTIVITIES
Capital Expenditures -$1.965B -$1.844B
YoY Change 6.56% 4.42%
Acquisitions
YoY Change
Other Investing Activities $2.089B $40.00M
YoY Change 5122.5% -101.82%
Cash From Investing Activities $124.0M -$1.804B
YoY Change -106.87% -54.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.576B -305.0M
YoY Change 744.59% -111.82%
NET CHANGE
Cash From Operating Activities 2.326B 2.512B
Cash From Investing Activities 124.0M -1.804B
Cash From Financing Activities -2.576B -305.0M
Net Change In Cash -126.0M 403.0M
YoY Change -131.27% -47.8%
FREE CASH FLOW
Cash From Operating Activities $2.326B $2.512B
Capital Expenditures -$1.965B -$1.844B
Free Cash Flow $4.291B $4.356B
YoY Change -1.49% 11.07%

Facts In Submission

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us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-1225000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
66000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2773000000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1263000000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
3150000000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
1109000000 USD
us-gaap Profit Loss
ProfitLoss
427000000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
1222000000 USD
us-gaap Profit Loss
ProfitLoss
2031000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
103542000000 USD
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
100672000000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79872000000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
78432000000 USD
CY2017Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
18000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
133000000 USD
CY2018Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
36000000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
99000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1981000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4498000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1436000000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
409000000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
1800000000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
8885000000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
9048000000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6201000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
17403000000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6159000000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18158000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
168000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
406000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
322000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
322000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
310000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2112000000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2018Q3 us-gaap Revenues
Revenues
6159000000 USD
us-gaap Revenues
Revenues
18158000000 USD
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
2439000000 USD
CY2018Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
2564000000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
613000000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
878000000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
95000000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
108000000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
150000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
24167000000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
24877000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
26612000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
25939000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
25528000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
28065000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
11000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
28000000 USD
CY2017Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
303000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
941000000 USD
CY2018Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
319000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
990000000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
636000000 USD
CY2018Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
1060000000 USD
CY2017Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
324000000 USD
CY2018Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
324000000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
900000 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
36000000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
39000000 USD
CY2017Q4 us-gaap Unamortized Loss Reacquired Debt Noncurrent
UnamortizedLossReacquiredDebtNoncurrent
206000000 USD
CY2018Q3 us-gaap Unamortized Loss Reacquired Debt Noncurrent
UnamortizedLossReacquiredDebtNoncurrent
328000000 USD
CY2017Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
1341000000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
4100000000 USD
CY2018Q3 us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
1404000000 USD
us-gaap Utilities Operating Expense Maintenance And Operations
UtilitiesOperatingExpenseMaintenanceAndOperations
4217000000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1010000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1005000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1029000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1021000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1003000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
998000000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1023000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1016000000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Certain prior year data presented in the financial statements have been reclassified to conform to the current year presentation. These reclassifications had no impact on the results of operations, financial position, or cash flows of any registrant.</font></div></div>

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