2018 Q2 Form 10-Q Financial Statement

#000009176718000026 Filed on May 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q2
Revenue $1.304B $1.172B
YoY Change 11.25% -4.4%
Cost Of Revenue $1.054B $949.3M
YoY Change 10.98% -3.23%
Gross Profit $250.6M $223.0M
YoY Change 12.39% -9.08%
Gross Profit Margin 19.22% 19.02%
Selling, General & Admin $137.4M $125.2M
YoY Change 9.77% -6.69%
% of Gross Profit 54.84% 56.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $58.07M $49.01M
YoY Change 18.49% -8.52%
% of Gross Profit 23.17% 21.98%
Operating Expenses $137.4M $125.2M
YoY Change 9.77% -6.69%
Operating Profit $110.1M $93.66M
YoY Change 17.55% -8.03%
Interest Expense $14.80M $13.09M
YoY Change 13.07% -7.78%
% of Operating Profit 13.44% 13.97%
Other Income/Expense, Net $291.0K -$3.700M
YoY Change -107.86%
Pretax Income $97.03M $77.92M
YoY Change 24.54% -11.51%
Income Tax $23.36M $25.54M
% Of Pretax Income 24.07% 32.78%
Net Earnings $74.06M $53.73M
YoY Change 37.82% -10.32%
Net Earnings / Revenue 5.68% 4.58%
Basic Earnings Per Share $0.74 $0.54
Diluted Earnings Per Share $0.73 $0.53
COMMON SHARES
Basic Shares Outstanding 100.4M shares 99.49M shares 100.1M shares
Diluted Shares Outstanding 100.9M shares 101.0M shares

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $306.1M $212.8M
YoY Change 43.84% 38.99%
Cash & Equivalents $305.3M $212.8M
Short-Term Investments $800.0K $100.0K
Other Short-Term Assets $49.80M $41.80M
YoY Change 19.14% -11.63%
Inventory $460.7M $430.4M
Prepaid Expenses $50.64M $41.83M
Receivables $756.1M $728.9M $663.3M
Other Receivables $91.30M $43.00M
Total Short-Term Assets $1.664B $1.391B
YoY Change 19.6% 5.36%
LONG-TERM ASSETS
Property, Plant & Equipment $1.165B $1.155B
YoY Change 0.85% 2.97%
Goodwill $1.253B $1.157B
YoY Change 8.32% 0.15%
Intangibles $321.8M $273.9M
YoY Change 17.48% 14.17%
Long-Term Investments
YoY Change
Other Assets $197.6M $166.0M
YoY Change 19.05% 5.22%
Total Long-Term Assets $2.989B $2.799B
YoY Change 6.79% 2.62%
TOTAL ASSETS
Total Short-Term Assets $1.664B $1.391B
Total Long-Term Assets $2.989B $2.799B
Total Assets $4.653B $4.565B $4.190B
YoY Change 11.04% 3.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $555.2M $521.8M
YoY Change 6.41% 5.37%
Accrued Expenses $278.4M $288.6M $265.8M
YoY Change 4.73% -5.58%
Deferred Revenue $17.74M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $175.5M $76.70M
YoY Change 128.81% -34.5%
Total Short-Term Liabilities $1.035B $1.005B $882.4M
YoY Change 17.34% -3.7%
LONG-TERM LIABILITIES
Long-Term Debt $1.289B $1.177B
YoY Change 9.5% 15.89%
Other Long-Term Liabilities $110.1M $39.30M
YoY Change 180.06% -0.34%
Total Long-Term Liabilities $110.1M $39.30M
YoY Change 180.06% -0.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.035B $1.005B $882.4M
Total Long-Term Liabilities $110.1M $39.30M
Total Liabilities $1.145B $921.7M
YoY Change 24.27% -3.56%
SHAREHOLDERS EQUITY
Retained Earnings $2.072B $2.038B $1.959B
YoY Change 5.81% 7.13%
Common Stock $336.8M $326.5M
YoY Change 3.13% -18.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.772B $1.709B $1.585B
YoY Change
Total Liabilities & Shareholders Equity $4.653B $4.565B $4.190B
YoY Change 11.04% 3.52%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q2
OPERATING ACTIVITIES
Net Income $74.06M $53.73M
YoY Change 37.82% -10.32%
Depreciation, Depletion And Amortization $58.07M $49.01M
YoY Change 18.49% -8.52%
Cash From Operating Activities $119.8M $67.40M
YoY Change 77.7% 1.52%
INVESTING ACTIVITIES
Capital Expenditures $41.36M $50.46M
YoY Change -18.03% -9.39%
Acquisitions $0.00 $221.4M
YoY Change -100.0%
Other Investing Activities $5.500M -$219.8M
YoY Change -102.5% -8553.85%
Cash From Investing Activities -$35.86M -$270.3M
YoY Change -86.73% 409.47%
FINANCING ACTIVITIES
Cash Dividend Paid $38.83M $36.84M
YoY Change 5.4% 4.08%
Common Stock Issuance & Retirement, Net $4.088M $5.539M
YoY Change -26.2% -69.85%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$36.60M $154.0M
YoY Change -123.76% -485.33%
NET CHANGE
Cash From Operating Activities $119.8M $67.40M
Cash From Investing Activities -$35.86M -$270.3M
Cash From Financing Activities -$36.60M $154.0M
Net Change In Cash $50.34M -$48.84M
YoY Change -203.07% 83.38%
FREE CASH FLOW
Cash From Operating Activities $119.8M $67.40M
Capital Expenditures $41.36M $50.46M
Free Cash Flow $78.41M $16.94M
YoY Change 362.76% 58.32%

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321768000 USD
CY2017Q2 us-gaap Interest Expense
InterestExpense
13085000 USD
CY2018Q2 us-gaap Interest Expense
InterestExpense
14795000 USD
CY2017Q4 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
196204000 USD
CY2018Q2 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
155417000 USD
CY2017Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
277859000 USD
CY2018Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
305310000 USD
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1027000 USD
CY2018Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1440000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4557721000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4653069000 USD
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LiabilitiesCurrent
999970000 USD
CY2018Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1035374000 USD
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1288002000 USD
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1289045000 USD
CY2017Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1426862000 USD
CY2018Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1407163000 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
22994000 USD
CY2018Q2 us-gaap Minority Interest
MinorityInterest
24293000 USD
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154023000 USD
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-36597000 USD
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-270258000 USD
CY2018Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35860000 USD
CY2017Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
67398000 USD
CY2018Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
119765000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
53733000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
74055000 USD
CY2016Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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597000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
597000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
870000 USD
CY2018Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
93659000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
93659000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
110098000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
189485000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
197600000 USD
CY2017Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
680000 USD
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
430000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-2949000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
1047000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
30836000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
22983000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
39186000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
29847000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-11299000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-5817000 USD
CY2017Q4 us-gaap Other Derivatives Not Designated As Hedging Instruments At Fair Value Net
OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNet
-581000 USD
CY2018Q2 us-gaap Other Derivatives Not Designated As Hedging Instruments At Fair Value Net
OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNet
171000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
110429000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
110072000 USD
CY2017Q4 us-gaap Other Receivables
OtherReceivables
64561000 USD
CY2018Q2 us-gaap Other Receivables
OtherReceivables
91319000 USD
CY2017Q2 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-133000 USD
CY2018Q2 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
-148000 USD
CY2017Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5539000 USD
CY2018Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4088000 USD
CY2017Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
36840000 USD
CY2018Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
38829000 USD
CY2017Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
221417000 USD
CY2018Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2017Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
50455000 USD
CY2018Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
41360000 USD
CY2017Q2 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
43557000 USD
CY2018Q2 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
18724000 USD
CY2017Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
12353000 USD
CY2018Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
8492000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
355187000 USD
CY2018Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
349819000 USD
CY2017Q2 us-gaap Pension Expense
PensionExpense
3686000 USD
CY2018Q2 us-gaap Pension Expense
PensionExpense
-291000 USD
CY2017Q4 us-gaap Price Risk Cash Flow Hedge Derivative At Fair Value Net
PriceRiskCashFlowHedgeDerivativeAtFairValueNet
-1713000 USD
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
44849000 USD
CY2018Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
50638000 USD
CY2018Q2 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
19662000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1730060000 USD
CY2017Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
4111000 USD
CY2018Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
3063000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2036006000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2072423000 USD
CY2018Q2 us-gaap Price Risk Cash Flow Hedge Derivative At Fair Value Net
PriceRiskCashFlowHedgeDerivativeAtFairValueNet
-1826000 USD
CY2018Q2 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
-1303000 USD
CY2017Q2 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
170297000 USD
CY2018Q2 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
21488000 USD
CY2017Q2 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
41000000 USD
CY2018Q2 us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
10000000 USD
CY2017Q2 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1481000 USD
CY2018Q2 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
5352000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
54330000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
74925000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1169377000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1164968000 USD
CY2017Q2 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
17637000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1172324000 USD
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1304187000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
125209000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
137441000 USD
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3026000 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3048000 USD
CY2018Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
-800000 USD
CY2016Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000 shares
CY2018Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2970000 shares
CY2016 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2030000 shares
CY2018Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1707066000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
1772163000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1796456000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1000000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100980000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100896000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100112000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100396000 shares

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