2014 Q4 Form 10-Q Financial Statement

#000112695615000013 Filed on February 04, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $619.6M $222.3M $468.6M
YoY Change 32.22% 51.12% 52.64%
Cost Of Revenue $1.200M
YoY Change -98.1%
Gross Profit $467.4M
YoY Change 91.56%
Gross Profit Margin 99.74%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.30M $24.20M $20.20M
YoY Change 59.9% 65.75% 78.76%
% of Gross Profit 4.32%
Operating Expenses $532.3M $230.7M $404.5M
YoY Change 31.59% 55.88% 100.35%
Operating Profit $87.30M -$8.400M $62.90M
YoY Change 38.79% -13.4% 49.41%
Interest Expense $19.20M -$15.00M $10.50M
YoY Change 82.86% 114.29% 74.24%
% of Operating Profit 21.99% 16.69%
Other Income/Expense, Net $1.400M -$2.300M $1.700M
YoY Change -17.65% 43.75% 56.83%
Pretax Income $69.50M -$25.70M $54.10M
YoY Change 28.47% 40.44% 45.65%
Income Tax $22.40M -$10.80M $18.50M
% Of Pretax Income 32.23% 34.2%
Net Earnings $47.10M -$14.90M $35.60M
YoY Change 32.3% 55.21% 39.06%
Net Earnings / Revenue 7.6% -6.7% 7.6%
Basic Earnings Per Share $1.09 -$0.35 $1.09
Diluted Earnings Per Share $1.09 -$0.35 $1.09
COMMON SHARES
Basic Shares Outstanding 43.10M shares 43.17M shares 32.60M shares
Diluted Shares Outstanding 43.20M shares 32.60M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.40M $16.10M $34.50M
YoY Change -61.16% -69.62% -25.97%
Cash & Equivalents $13.40M $16.10M $34.50M
Short-Term Investments
Other Short-Term Assets $126.1M $115.6M $31.70M
YoY Change 297.79% 243.03% -22.87%
Inventory $245.5M $270.2M $167.9M
Prepaid Expenses
Receivables $102.2M $29.40M $328.8M
Other Receivables $11.10M $7.300M $7.800M
Total Short-Term Assets $816.1M $628.0M $570.7M
YoY Change 42.99% 31.96% 42.66%
LONG-TERM ASSETS
Property, Plant & Equipment $9.500M $9.200M $5.249M
YoY Change 80.99% 19.48% -9.31%
Goodwill $937.8M $937.8M $235.8M
YoY Change 297.69% 279.52%
Intangibles
YoY Change
Long-Term Investments $60.90M $60.00M $62.80M
YoY Change -3.03% 2.92% 21.71%
Other Assets $64.00M $65.00M $13.42M
YoY Change 377.08% 367.63% 128.81%
Total Long-Term Assets $4.472B $4.446B $2.636B
YoY Change 69.67% 67.81% 70.94%
TOTAL ASSETS
Total Short-Term Assets $816.1M $628.0M $570.7M
Total Long-Term Assets $4.472B $4.446B $2.636B
Total Assets $5.289B $5.074B $3.207B
YoY Change 64.92% 62.35% 65.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $221.1M $176.7M $160.8M
YoY Change 37.54% 26.03% 59.17%
Accrued Expenses $44.60M $51.10M $25.50M
YoY Change 74.9% 75.6% 46.55%
Deferred Revenue
YoY Change
Short-Term Debt $397.5M $287.1M $93.50M
YoY Change 325.13% 287.97% 12.58%
Long-Term Debt Due $114.7M $0.00 $80.00M
YoY Change 43.38%
Total Short-Term Liabilities $1.082B $785.8M $477.7M
YoY Change 126.55% 122.48% 73.67%
LONG-TERM LIABILITIES
Long-Term Debt $1.736B $1.851B $832.8M
YoY Change 108.5% 102.8% 128.51%
Other Long-Term Liabilities $76.90M $75.10M $44.88M
YoY Change 71.33% 65.42% 27.83%
Total Long-Term Liabilities $936.4M $928.8M $829.9M
YoY Change 12.84% 14.22% 21.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.082B $785.8M $477.7M
Total Long-Term Liabilities $936.4M $928.8M $829.9M
Total Liabilities $2.019B $1.715B $1.308B
YoY Change 54.38% 47.0% 36.64%
SHAREHOLDERS EQUITY
Retained Earnings $464.6M $437.5M $441.3M
YoY Change 5.29% 4.14% 2.49%
Common Stock $43.30M $43.20M $32.75M
YoY Change 32.21% 32.11% 45.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.534B $1.508B $1.066B
YoY Change
Total Liabilities & Shareholders Equity $5.289B $5.074B $3.207B
YoY Change 64.92% 62.35% 65.11%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $47.10M -$14.90M $35.60M
YoY Change 32.3% 55.21% 39.06%
Depreciation, Depletion And Amortization $32.30M $24.20M $20.20M
YoY Change 59.9% 65.75% 78.76%
Cash From Operating Activities -$34.10M -$62.40M -$15.70M
YoY Change 117.2% 1912.9% -501.02%
INVESTING ACTIVITIES
Capital Expenditures $60.00M -$61.50M $34.60M
YoY Change 73.41% 80.88% 24.85%
Acquisitions
YoY Change
Other Investing Activities $600.0K -$1.304B $700.0K
YoY Change -14.29% 33.8% -29.29%
Cash From Investing Activities -$60.60M -$1.366B -$24.30M
YoY Change 149.38% 35.39% -15.34%
FINANCING ACTIVITIES
Cash Dividend Paid $19.00M $13.90M
YoY Change 36.69% 46.39%
Common Stock Issuance & Retirement, Net $1.700M $800.0K
YoY Change 112.5% 5.12%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities $92.00M 872.6M $21.50M
YoY Change 327.91% 71.6% -51.02%
NET CHANGE
Cash From Operating Activities -$34.10M -62.40M -$15.70M
Cash From Investing Activities -$60.60M -1.366B -$24.30M
Cash From Financing Activities $92.00M 872.6M $21.50M
Net Change In Cash -$2.700M -555.7M -$18.50M
YoY Change -85.41% 10.37% -196.83%
FREE CASH FLOW
Cash From Operating Activities -$34.10M -$62.40M -$15.70M
Capital Expenditures $60.00M -$61.50M $34.60M
Free Cash Flow -$94.10M -$900.0K -$50.30M
YoY Change 87.08% -102.91% 111.36%

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CY2014Q3 us-gaap Loss Contingency Range Of Possible Loss Minimum
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8100000 USD
CY2013Q4 us-gaap Net Cash Provided By Used In Financing Activities
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21500000 USD
CY2014Q4 us-gaap Net Cash Provided By Used In Financing Activities
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92000000 USD
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CY2014Q4 us-gaap Net Cash Provided By Used In Investing Activities
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CY2013Q4 us-gaap Net Cash Provided By Used In Operating Activities
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CY2014Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2013Q4 us-gaap Net Income Loss
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35600000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
47100000 USD
CY2013Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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35400000 USD
CY2013Q4 us-gaap Other Cost And Expense Operating
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1200000 USD
CY2014Q4 us-gaap Other Cost And Expense Operating
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2300000 USD
CY2014Q3 us-gaap Other Inventory Purchased Goods
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13000000 USD
CY2014Q4 us-gaap Other Inventory Purchased Goods
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14100000 USD
CY2014Q3 us-gaap Other Liabilities Current
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89100000 USD
CY2014Q4 us-gaap Other Liabilities Current
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122800000 USD
CY2014Q3 us-gaap Other Liabilities Noncurrent
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75100000 USD
CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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46900000 USD
CY2013Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
35400000 USD
CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
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46900000 USD
CY2013Q4 us-gaap Nonoperating Income Expense
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1700000 USD
CY2014Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1400000 USD
CY2014Q3 us-gaap Notes Payable Current
NotesPayableCurrent
287100000 USD
CY2014Q4 us-gaap Notes Payable Current
NotesPayableCurrent
397500000 USD
CY2014Q4 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Operating_Segment
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
62900000 USD
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
87300000 USD
CY2014Q3 us-gaap Other Assets Noncurrent
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65000000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
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64000000 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-2700000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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-5900000 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
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CY2014Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
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-6000000 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-1700000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-3700000 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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1200000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
100000 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-100000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-100000 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-1000000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-2200000 USD
CY2013Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-1600000 USD
CY2014Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-5900000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
76900000 USD
CY2013Q4 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-900000 USD
CY2014Q4 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
13900000 USD
CY2013Q4 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
200000 USD
CY2014Q4 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
200000 USD
CY2013Q4 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
700000 USD
CY2014Q4 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
600000 USD
CY2013Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
13900000 USD
CY2014Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
19000000 USD
CY2013Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
34600000 USD
CY2014Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
60000000 USD
CY2014Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
614300000 USD
CY2014Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
615800000 USD
CY2014Q3 us-gaap Regulatory Liabilities
RegulatoryLiabilities
189500000 USD
CY2014Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
244900000 USD
CY2014Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
241700000 USD
CY2014Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
48400000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
46900000 USD
CY2013Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
800000 USD
CY2014Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1700000 USD
CY2013Q4 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
15100000 USD
CY2014Q4 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1100000 USD
CY2013Q4 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
19500000 USD
CY2014Q4 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
110400000 USD
CY2013Q4 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
11000000 USD
CY2014Q4 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
0 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9200000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9500000 USD
CY2014Q3 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
1168600000 USD
CY2014Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
1195300000 USD
CY2014Q3 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
2759700000 USD
CY2014Q4 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
2784400000 USD
CY2014Q3 us-gaap Public Utilities Property Plant And Equipment Transmission And Distribution
PublicUtilitiesPropertyPlantAndEquipmentTransmissionAndDistribution
3928300000 USD
CY2014Q4 us-gaap Public Utilities Property Plant And Equipment Transmission And Distribution
PublicUtilitiesPropertyPlantAndEquipmentTransmissionAndDistribution
3979700000 USD
CY2013Q4 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
468600000 USD
CY2014Q4 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
619600000 USD
CY2013Q4 us-gaap Regulated Operating Revenue Gas
RegulatedOperatingRevenueGas
435200000 USD
CY2014Q4 us-gaap Regulated Operating Revenue Gas
RegulatedOperatingRevenueGas
581400000 USD
CY2014Q3 us-gaap Regulatory Assets
RegulatoryAssets
695100000 USD
CY2014Q4 us-gaap Regulatory Assets
RegulatoryAssets
703000000 USD
CY2014Q3 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
80800000 USD
CY2014Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
87200000 USD
CY2014Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
198800000 USD
CY2014Q3 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
63700000 USD
CY2014Q4 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
75900000 USD
CY2014Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
125800000 USD
CY2014Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
122900000 USD
CY2014Q3 us-gaap Remaining Amounts Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided
RemainingAmountsOfRegulatoryAssetsForWhichNoReturnOnInvestmentDuringRecoveryPeriodIsProvided
373900000 USD
CY2014Q4 us-gaap Remaining Amounts Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided
RemainingAmountsOfRegulatoryAssetsForWhichNoReturnOnInvestmentDuringRecoveryPeriodIsProvided
414600000 USD
CY2014 us-gaap Remaining Recovery Period Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided1
RemainingRecoveryPeriodOfRegulatoryAssetsForWhichNoReturnOnInvestmentDuringRecoveryPeriodIsProvided1
P15Y
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
437500000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
464600000 USD
CY2013Q4 us-gaap Revenues
Revenues
468600000 USD
CY2014Q4 us-gaap Revenues
Revenues
619600000 USD
CY2013Q4 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
400000 USD
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43100000 shares
CY2013Q4 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
62300000 USD
CY2014Q4 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
400000 USD
CY2013Q4 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
400000 USD
CY2014Q4 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
2800000 USD
CY2013Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
500000 USD
CY2014Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-2000000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
1046300000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
1066400000 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
1508400000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
1533500000 USD
CY2014Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
63400000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
50800000 USD
CY2014Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
10800000 USD
CY2014Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
14600000 USD
CY2013Q4 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
352700000 USD
CY2014Q4 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
471400000 USD
CY2013Q4 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
20000000 USD
CY2014Q4 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
32000000 USD
CY2013Q4 us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
241800000 USD
CY2014Q4 us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
304300000 USD
CY2014Q4 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
97100000 USD
CY2013Q4 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
28600000 USD
CY2014Q4 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
38000000 USD
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32600000 shares
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43200000 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32600000 shares

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