2015 Q1 Form 10-Q Financial Statement

#000009176715000022 Filed on April 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $1.206B $1.190B
YoY Change 1.35% 0.92%
Cost Of Revenue $985.7M $973.3M
YoY Change 1.27% -0.02%
Gross Profit $220.4M $209.8M
YoY Change 5.07% 1.97%
Gross Profit Margin 18.27% 17.63%
Selling, General & Admin $96.67M $123.8M
YoY Change -21.89% 3.12%
% of Gross Profit 43.86% 59.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $51.88M $47.18M
YoY Change 9.96% -0.11%
% of Gross Profit 23.54% 22.49%
Operating Expenses $96.67M $123.8M
YoY Change -21.89% 3.12%
Operating Profit $124.1M $86.56M
YoY Change 43.35% 6.32%
Interest Expense $13.78M $13.28M
YoY Change 3.7% -12.29%
% of Operating Profit 11.1% 15.35%
Other Income/Expense, Net
YoY Change
Pretax Income $110.9M $73.92M
YoY Change 49.98% 10.08%
Income Tax $26.22M $23.17M
% Of Pretax Income 23.65% 31.34%
Net Earnings $85.78M $50.42M
YoY Change 70.14% 4.73%
Net Earnings / Revenue 7.11% 4.24%
Basic Earnings Per Share $0.85 $0.49
Diluted Earnings Per Share $0.84 $0.49
COMMON SHARES
Basic Shares Outstanding 101.3M shares 102.8M shares
Diluted Shares Outstanding 102.2M shares 103.8M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.9M $192.0M
YoY Change 4.64% 17.14%
Cash & Equivalents $200.8M $191.4M
Short-Term Investments $100.0K $500.0K
Other Short-Term Assets $76.50M $81.60M
YoY Change -6.25% 42.41%
Inventory $403.5M $413.8M
Prepaid Expenses $48.58M $41.82M
Receivables $689.0M $683.9M
Other Receivables $39.40M $33.80M
Total Short-Term Assets $1.426B $1.405B
YoY Change 1.49% 8.91%
LONG-TERM ASSETS
Property, Plant & Equipment $1.102B $1.017B
YoY Change 8.43% -2.38%
Goodwill $1.151B $1.095B
YoY Change 5.11% -0.79%
Intangibles $261.4M $236.5M
YoY Change 10.5% -12.03%
Long-Term Investments
YoY Change
Other Assets $173.3M $170.5M
YoY Change 1.66% 4.07%
Total Long-Term Assets $2.729B $2.575B
YoY Change 5.98% -3.15%
TOTAL ASSETS
Total Short-Term Assets $1.426B $1.405B
Total Long-Term Assets $2.729B $2.575B
Total Assets $4.155B $3.980B
YoY Change 4.39% 0.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $506.3M $506.1M
YoY Change 0.05% 8.5%
Accrued Expenses $290.8M $328.0M
YoY Change -11.33% 3.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $51.90M $38.90M
YoY Change 33.42% -76.71%
Total Short-Term Liabilities $864.5M $890.2M
YoY Change -2.88% -7.64%
LONG-TERM LIABILITIES
Long-Term Debt $1.201B $946.5M
YoY Change 26.84% -0.12%
Other Long-Term Liabilities $42.64M $47.27M
YoY Change -9.81% -5.26%
Total Long-Term Liabilities $42.64M $47.27M
YoY Change -9.81% -5.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $864.5M $890.2M
Total Long-Term Liabilities $42.64M $47.27M
Total Liabilities $907.2M $937.5M
YoY Change -3.23% -7.52%
SHAREHOLDERS EQUITY
Retained Earnings $1.770B $1.625B
YoY Change 8.87% 6.26%
Common Stock $405.4M $462.9M
YoY Change -12.43% 0.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.506B $1.727B
YoY Change
Total Liabilities & Shareholders Equity $4.155B $3.980B
YoY Change 4.39% 0.79%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $85.78M $50.42M
YoY Change 70.14% 4.73%
Depreciation, Depletion And Amortization $51.88M $47.18M
YoY Change 9.96% -0.11%
Cash From Operating Activities $60.33M $45.46M
YoY Change 32.7% -66.65%
INVESTING ACTIVITIES
Capital Expenditures $40.95M $37.72M
YoY Change 8.58% -32.09%
Acquisitions
YoY Change
Other Investing Activities $27.90M $2.300M
YoY Change 1113.04% -167.65%
Cash From Investing Activities -$13.05M -$35.40M
YoY Change -63.12% -39.93%
FINANCING ACTIVITIES
Cash Dividend Paid $32.26M $31.73M
YoY Change 1.7% 4.69%
Common Stock Issuance & Retirement, Net $6.426M $8.811M
YoY Change -27.07% -355.1%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$25.21M -$34.90M
YoY Change -27.76% -87.68%
NET CHANGE
Cash From Operating Activities $60.33M $45.46M
Cash From Investing Activities -$13.05M -$35.40M
Cash From Financing Activities -$25.21M -$34.90M
Net Change In Cash $22.06M -$24.83M
YoY Change -188.85% -87.94%
FREE CASH FLOW
Cash From Operating Activities $60.33M $45.46M
Capital Expenditures $40.95M $37.72M
Free Cash Flow $19.38M $7.747M
YoY Change 150.11% -90.41%

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IntangibleAssetsNetExcludingGoodwill
280935000 USD
CY2015Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
261378000 USD
CY2014Q1 us-gaap Interest Expense
InterestExpense
13284000 USD
CY2015Q1 us-gaap Interest Expense
InterestExpense
13775000 USD
CY2014Q4 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
151150000 USD
CY2015Q1 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
149123000 USD
CY2014Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
269126000 USD
CY2015Q1 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
254362000 USD
CY2014Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
641000 USD
CY2015Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
554000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4209996000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4155157000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
905445000 USD
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
864549000 USD
CY2014Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1200885000 USD
CY2015Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1200509000 USD
CY2014Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1322795000 USD
CY2015Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1338655000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
236000 USD
CY2014Q4 us-gaap Minority Interest
MinorityInterest
15652000 USD
CY2015Q1 us-gaap Minority Interest
MinorityInterest
14929000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-34901000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-25212000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35396000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10213000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
45464000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
57489000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
52302000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
87920000 USD
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-77000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-92000 USD
CY2015Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 Segment
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
86561000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
127141000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
167176000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
173332000 USD
CY2014Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-119000 USD
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-631000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-6009000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-64333000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-1205000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
899000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7359000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-63294000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2949000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-58226000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-4174000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-6273000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-3653000 USD
CY2014Q4 us-gaap Other Derivatives Not Designated As Hedging Instruments At Fair Value Net
OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNet
-1098000 USD
CY2015Q1 us-gaap Other Derivatives Not Designated As Hedging Instruments At Fair Value Net
OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNet
-1135000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
41598000 USD
CY2015Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
42635000 USD
CY2014Q4 us-gaap Other Receivables
OtherReceivables
44411000 USD
CY2015Q1 us-gaap Other Receivables
OtherReceivables
58464000 USD
CY2014Q1 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-22000 USD
CY2015Q1 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-33000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10678000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7591000 USD
CY2014Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
31725000 USD
CY2015Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
32263000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
37717000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40954000 USD
CY2014Q1 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
43515000 USD
CY2015Q1 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
17017000 USD
CY2014Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
9113000 USD
CY2015Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
13012000 USD
CY2014Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
444231000 USD
CY2015Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
436900000 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
56761000 USD
CY2015Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
48576000 USD
CY2014Q4 us-gaap Price Risk Cash Flow Hedge Derivative At Fair Value Net
PriceRiskCashFlowHedgeDerivativeAtFairValueNet
-6086000 USD
CY2015Q1 us-gaap Price Risk Cash Flow Hedge Derivative At Fair Value Net
PriceRiskCashFlowHedgeDerivativeAtFairValueNet
-5813000 USD
CY2015Q1 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
-5655000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1867000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1165000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
14156000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
14127000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2299000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
30708000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
52225000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
87828000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1148607000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1102481000 USD
CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
237000 USD
CY2014Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
10461000 USD
CY2015Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
12802000 USD
CY2014Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
1992000 USD
CY2015Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
-359000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1714067000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1769553000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1185626000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1203264000 USD
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
123750000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
96665000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5560000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3878000 USD
CY2015Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
2300000 USD
CY2015Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000 shares
CY2015Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2867500 shares
CY2013 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
132500 shares
CY2014 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2000000 shares
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
1507123000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
1505627000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1522775000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1520556000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103767000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102167000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102771000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101283000 shares

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