2020 Q1 Form 10-Q Financial Statement

#000010917720000022 Filed on May 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $608.7M $906.7M
YoY Change -32.87% 2.73%
Cost Of Revenue $606.0M $601.0M
YoY Change 0.83% 21.46%
Gross Profit $200.2M $305.5M
YoY Change -34.47% -0.16%
Gross Profit Margin 32.89% 33.69%
Selling, General & Admin $5.500M $4.000M
YoY Change 37.5% -62.62%
% of Gross Profit 2.75% 1.31%
Research & Development $10.10M $11.20M
YoY Change -9.82% -2.61%
% of Gross Profit 5.04% 3.67%
Depreciation & Amortization $36.40M $36.60M
YoY Change -0.55% 21.59%
% of Gross Profit 18.18% 11.98%
Operating Expenses $261.2M $263.9M
YoY Change -1.02% -3.93%
Operating Profit $67.70M $41.60M
YoY Change 62.74% 32.91%
Interest Expense -$58.40M -$76.80M
YoY Change -23.96% -213.61%
% of Operating Profit -86.26% -184.62%
Other Income/Expense, Net -$110.4M -$24.10M
YoY Change 358.09% -12150.0%
Pretax Income -$78.20M -$76.70M
YoY Change 1.96% 110.71%
Income Tax -$19.00M -$22.70M
% Of Pretax Income
Net Earnings -$56.90M $728.6M
YoY Change -107.81% -2621.11%
Net Earnings / Revenue -9.35% 80.36%
Basic Earnings Per Share -$1.26 $14.07
Diluted Earnings Per Share -$1.26 $14.07
COMMON SHARES
Basic Shares Outstanding 45.10M shares 51.80M
Diluted Shares Outstanding 45.10M shares 51.80M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $458.0M $176.0M
YoY Change 160.23% -76.81%
Cash & Equivalents $457.8M $176.2M
Short-Term Investments
Other Short-Term Assets $60.00M $74.00M
YoY Change -18.92% -96.37%
Inventory $607.9M $776.2M
Prepaid Expenses
Receivables $465.9M $470.5M
Other Receivables $99.50M $95.50M
Total Short-Term Assets $1.691B $1.585B
YoY Change 6.72% -58.36%
LONG-TERM ASSETS
Property, Plant & Equipment $396.2M $469.8M
YoY Change -15.67% -6.88%
Goodwill $1.324B $1.449B
YoY Change -8.64% -36.44%
Intangibles $1.453B $1.584B
YoY Change -8.24% -0.36%
Long-Term Investments $134.0M $238.0M
YoY Change -43.7%
Other Assets $103.0M $161.0M
YoY Change -36.02% 163.93%
Total Long-Term Assets $3.504B $3.902B
YoY Change -10.2% -12.02%
TOTAL ASSETS
Total Short-Term Assets $1.691B $1.585B
Total Long-Term Assets $3.504B $3.902B
Total Assets $5.195B $5.487B
YoY Change -5.31% -33.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $387.4M $450.4M
YoY Change -13.99% 25.11%
Accrued Expenses $104.0M $84.00M
YoY Change 23.81% -19.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $13.30M $16.10M
YoY Change -17.39% -77.0%
Total Short-Term Liabilities $706.9M $991.8M
YoY Change -28.73% -18.87%
LONG-TERM LIABILITIES
Long-Term Debt $2.999B $2.342B
YoY Change 28.06% -55.38%
Other Long-Term Liabilities $110.1M $135.6M
YoY Change -18.81% -3.14%
Total Long-Term Liabilities $3.109B $2.478B
YoY Change 25.49% -52.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $706.9M $991.8M
Total Long-Term Liabilities $3.109B $2.478B
Total Liabilities $3.973B $3.558B
YoY Change 11.67% -48.41%
SHAREHOLDERS EQUITY
Retained Earnings $68.20M $387.6M
YoY Change -82.4% -185.07%
Common Stock $2.035B $2.018B
YoY Change 0.83% 58.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $606.9M $264.2M
YoY Change 129.71%
Treasury Stock Shares
Shareholders Equity $1.214B $1.919B
YoY Change
Total Liabilities & Shareholders Equity $5.195B $5.487B
YoY Change -5.31% -33.42%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$56.90M $728.6M
YoY Change -107.81% -2621.11%
Depreciation, Depletion And Amortization $36.40M $36.60M
YoY Change -0.55% 21.59%
Cash From Operating Activities $12.10M -$221.8M
YoY Change -105.46% 78.3%
INVESTING ACTIVITIES
Capital Expenditures $13.00M $13.60M
YoY Change -4.41% -23.6%
Acquisitions
YoY Change
Other Investing Activities $14.70M $2.854B
YoY Change -99.48% 11549.8%
Cash From Investing Activities $1.700M $2.841B
YoY Change -99.94% 42297.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 308.7M -2.695B
YoY Change -111.45% 247.95%
NET CHANGE
Cash From Operating Activities 12.10M -221.8M
Cash From Investing Activities 1.700M 2.841B
Cash From Financing Activities 308.7M -2.695B
Net Change In Cash 322.5M -76.10M
YoY Change -523.78% -91.47%
FREE CASH FLOW
Cash From Operating Activities $12.10M -$221.8M
Capital Expenditures $13.00M $13.60M
Free Cash Flow -$900.0K -$235.4M
YoY Change -99.62% 65.54%

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CY2020Q1 us-gaap Interest Income Expense Net
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-35500000
CY2019Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-94200000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-70400000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-151200000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
36400000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
36600000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
78000000.0
CY2020Q1 spb Share Based Compensation1
ShareBasedCompensation1
14600000
CY2019Q1 spb Share Based Compensation1
ShareBasedCompensation1
17300000
spb Share Based Compensation1
ShareBasedCompensation1
29100000
spb Share Based Compensation1
ShareBasedCompensation1
23200000
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
21900000
CY2019Q1 us-gaap Restructuring Charges
RestructuringCharges
12600000
us-gaap Restructuring Charges
RestructuringCharges
49400000
us-gaap Restructuring Charges
RestructuringCharges
21500000
CY2020Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
7200000
CY2019Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
5300000
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
11300000
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
11600000
CY2020Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
7000000.0
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-25700000
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
24200000
CY2020Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
106800000
CY2019Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
5000000.0
us-gaap Gain Loss On Investments
GainLossOnInvestments
68300000
us-gaap Gain Loss On Investments
GainLossOnInvestments
5000000.0
CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
3100000
CY2019Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
21800000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
400000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
21800000
us-gaap Inventory Recall Expense
InventoryRecallExpense
600000
CY2020Q1 spb Salus
Salus
100000
spb Salus
Salus
400000
CY2019Q1 spb Other Income Expense
OtherIncomeExpense
-500000
spb Other Income Expense
OtherIncomeExpense
500000
spb Other Income Expense
OtherIncomeExpense
2300000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-78200000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-76700000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-115200000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-109000000.0
CY2020Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-58400000
CY2019Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-55000000.0
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-97000000.0
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-84200000
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
1400000
CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
783600000
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
4300000
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
700400000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-57000000.0
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
728600000
us-gaap Net Income Loss
NetIncomeLoss
-92700000
us-gaap Net Income Loss
NetIncomeLoss
616200000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45100000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51800000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46400000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52600000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45100000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51800000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46400000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52600000
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-1.29
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-1.06
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-2.09
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-1.60
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.03
CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
15.13
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.09
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
13.32
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.26
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
14.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
11.72
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-1.29
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-1.06
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-2.09
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-1.60
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.03
CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
15.13
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.09
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
13.32
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.26
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
14.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.72
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000

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