2018 Form 10-K Financial Statement

#000001691818000033 Filed on April 23, 2018

View on sec.gov

Income Statement

Concept 2018 2017 Q1 2017
Revenue $8.327B $1.618B $8.062B
YoY Change 3.29% 4.82% 11.6%
Cost Of Revenue $3.768B $840.3M $3.802B
YoY Change -0.9% 1.53% 5.44%
Gross Profit $3.813B $787.7M $3.519B
YoY Change 8.34% 13.16% 19.6%
Gross Profit Margin 45.79% 48.7% 43.65%
Selling, General & Admin $1.533B $301.8M $1.392B
YoY Change 10.08% 8.29% 18.28%
% of Gross Profit 40.2% 38.31% 39.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $299.7M $62.20M $247.9M
YoY Change 20.9% 24.9% 12.17%
% of Gross Profit 7.86% 7.9% 7.04%
Operating Expenses $1.533B $301.8M $1.392B
YoY Change 10.08% 8.29% 18.28%
Operating Profit $2.280B $485.9M $2.389B
YoY Change -4.57% 16.41% 35.35%
Interest Expense $334.3M -$83.60M $335.1M
YoY Change -0.24% 32.49% 6.48%
% of Operating Profit 14.66% -17.21% 14.03%
Other Income/Expense, Net
YoY Change
Pretax Income $2.338B $613.5M $2.083B
YoY Change 12.24% 75.19% 38.76%
Income Tax $22.70M $158.1M $550.3M
% Of Pretax Income 0.97% 25.77% 26.42%
Net Earnings $2.303B $452.0M $1.529B
YoY Change 50.69% 85.7% 44.9%
Net Earnings / Revenue 27.66% 27.94% 18.96%
Basic Earnings Per Share
Diluted Earnings Per Share $11.48M $2.229M $7.489M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 2017 Q1 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.00M $177.0M $177.0M
YoY Change -49.15% 113.25% 113.25%
Cash & Equivalents $90.00M $177.4M $177.0M
Short-Term Investments
Other Short-Term Assets $524.0M $124.0M $260.0M
YoY Change 101.54% 20.04% 39.78%
Inventory $2.084B $1.955B $1.955B
Prepaid Expenses
Receivables $776.0M $737.0M $737.0M
Other Receivables $0.00 $100.0M $100.0M
Total Short-Term Assets $3.474B $3.230B $3.230B
YoY Change 7.55% 8.48% 8.46%
LONG-TERM ASSETS
Property, Plant & Equipment $4.790B $3.933B $3.933B
YoY Change 21.79% 17.98% 18.0%
Goodwill $7.921B
YoY Change 10.95%
Intangibles $3.378B
YoY Change -0.77%
Long-Term Investments $98.70M
YoY Change 20.07%
Other Assets $887.0M $141.4M $141.0M
YoY Change 529.08% 26.7% 25.89%
Total Long-Term Assets $17.07B $15.37B $15.37B
YoY Change 11.01% 9.9% 9.9%
TOTAL ASSETS
Total Short-Term Assets $3.474B $3.230B $3.230B
Total Long-Term Assets $17.07B $15.37B $15.37B
Total Assets $20.54B $18.60B $18.60B
YoY Change 10.41% 9.65% 9.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $592.0M $559.8M $560.0M
YoY Change 5.71% 30.4% 30.54%
Accrued Expenses $665.0M $620.4M $540.0M
YoY Change 23.15% 13.96% 28.88%
Deferred Revenue
YoY Change
Short-Term Debt $747.0M $606.5M $607.0M
YoY Change 23.06% 48.65% 48.77%
Long-Term Debt Due $22.00M $910.9M $911.0M
YoY Change -97.59% 6.33% 6.3%
Total Short-Term Liabilities $2.040B $2.698B $2.698B
YoY Change -24.39% 18.72% 18.75%
LONG-TERM LIABILITIES
Long-Term Debt $9.418B $7.721B $7.721B
YoY Change 21.98% 13.27% 13.28%
Other Long-Term Liabilities $1.090B $165.7M $166.0M
YoY Change 556.63% 1.97% 1.84%
Total Long-Term Liabilities $10.51B $7.886B $7.887B
YoY Change 33.23% 13.01% 13.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.040B $2.698B $2.698B
Total Long-Term Liabilities $10.51B $7.886B $7.887B
Total Liabilities $12.56B $11.72B $11.71B
YoY Change 7.28% 14.06% 12.55%
SHAREHOLDERS EQUITY
Retained Earnings $7.310B
YoY Change 20.02%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.778B
YoY Change 66.3%
Treasury Stock Shares
Shareholders Equity $7.975B $6.891B $6.891B
YoY Change
Total Liabilities & Shareholders Equity $20.54B $18.60B $18.60B
YoY Change 10.41% 9.65% 9.65%

Cashflow Statement

Concept 2018 2017 Q1 2017
OPERATING ACTIVITIES
Net Income $2.303B $452.0M $1.529B
YoY Change 50.69% 85.7% 44.9%
Depreciation, Depletion And Amortization $299.7M $62.20M $247.9M
YoY Change 20.9% 24.9% 12.17%
Cash From Operating Activities $1.931B $280.3M $1.696B
YoY Change 13.88% -12.98% 19.97%
INVESTING ACTIVITIES
Capital Expenditures $1.058B -$315.8M $907.4M
YoY Change 16.55% -16.34% 1.81%
Acquisitions $150.1M $1.111B
YoY Change -86.49% -15.6%
Other Investing Activities $5.400M $3.100M $3.700M
YoY Change 45.95% -100.31% -1333.33%
Cash From Investing Activities -$1.423B -$312.7M -$1.462B
YoY Change -2.65% -77.34% -33.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.039B $1.123B
YoY Change -7.5% 3221.6%
Debt Paid & Issued, Net $7.129B $971.8M
YoY Change 633.56% 365.64%
Cash From Financing Activities -$601.2M 11.60M -134.8M
YoY Change 345.99% -98.23% -117.37%
NET CHANGE
Cash From Operating Activities $1.931B 280.3M 1.696B
Cash From Investing Activities -$1.423B -312.7M -1.462B
Cash From Financing Activities -$601.2M 11.60M -134.8M
Net Change In Cash -$92.90M -20.80M 99.40M
YoY Change -193.46% -94.85% -661.58%
FREE CASH FLOW
Cash From Operating Activities $1.931B $280.3M $1.696B
Capital Expenditures $1.058B -$315.8M $907.4M
Free Cash Flow $873.8M $596.1M $788.6M
YoY Change 10.8% -14.79% 50.96%

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P2Y1M
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42700000 USD
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110000000 USD
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500000 USD
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1200000 USD
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11500000 USD
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100000 USD
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54700000 USD
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400000 USD
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3700000 USD
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43800000 USD
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100000 USD
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7500000 USD
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UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
700000 USD
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1000000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
39500000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
89300000 USD
CY2017Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
78300000 USD
CY2018Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
209900000 USD
CY2018 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">We expense advertising costs as incurred, shown or distributed.</font></div></div>
CY2018 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">Indemnification liabilities:</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">We have indemnified respective parties against certain liabilities that may arise in connection with certain acquisitions and divestitures. Indemnification liabilities are recognized when probable and estimable and included in other liabilities (see Note </font><font style="font-family:inherit;font-size:11pt;">14</font><font style="font-family:inherit;font-size:11pt;">).</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">Management&#8217;s use of estimates:</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

Files In Submission

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