2016 Q3 Form 10-Q Financial Statement

#000009355617000022 Filed on July 25, 2017

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2
Revenue $2.932B $2.672B
YoY Change 0.0% 0.0%
Cost Of Revenue $1.804B $1.695B
YoY Change -0.34% 2.3%
Gross Profit $1.129B $977.6M
YoY Change 0.0% 0.0%
Gross Profit Margin 38.5% 36.59%
Selling, General & Admin $659.7M $620.4M
YoY Change 4.47% 1.09%
% of Gross Profit 58.44% 63.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $102.0M $100.1M
YoY Change 0.0% -2.34%
% of Gross Profit 9.04% 10.24%
Operating Expenses $659.7M $620.4M
YoY Change 4.47% 1.09%
Operating Profit $509.0M $398.2M
YoY Change 12.84% 3.08%
Interest Expense $47.70M $47.30M
YoY Change 3.25% 6.53%
% of Operating Profit 9.37% 11.88%
Other Income/Expense, Net
YoY Change
Pretax Income $362.0M $254.1M
YoY Change 15.29% 14.82%
Income Tax $90.50M $65.50M
% Of Pretax Income 25.0% 25.78%
Net Earnings $271.5M $189.4M
YoY Change 0.0% 0.0%
Net Earnings / Revenue 9.26% 7.09%
Basic Earnings Per Share $1.87 $1.30
Diluted Earnings Per Share $1.84 $1.28
COMMON SHARES
Basic Shares Outstanding 145.1M shares 145.9M shares
Diluted Shares Outstanding 147.3M shares 147.6M shares

Balance Sheet

Concept 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $568.0M $352.0M
YoY Change 44.9% -19.27%
Cash & Equivalents $568.2M $352.2M
Short-Term Investments
Other Short-Term Assets $465.4M $386.8M
YoY Change 3.81% -24.05%
Inventory $1.689B $1.685B
Prepaid Expenses
Receivables $1.571B $1.593B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.293B $4.017B
YoY Change -1.19% -7.12%
LONG-TERM ASSETS
Property, Plant & Equipment $1.463B $1.463B
YoY Change 3.05% 3.64%
Goodwill $7.109B $7.168B
YoY Change -0.82% 0.58%
Intangibles $2.484B $2.533B
YoY Change -5.59% -4.85%
Long-Term Investments
YoY Change
Other Assets $392.5M $426.8M
YoY Change -10.0% 1.89%
Total Long-Term Assets $11.45B $11.59B
YoY Change -1.77% -0.24%
TOTAL ASSETS
Total Short-Term Assets $4.293B $4.017B
Total Long-Term Assets $11.45B $11.59B
Total Assets $15.74B $15.61B
YoY Change -1.61% -2.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.739B $1.662B
YoY Change -1.45% -0.75%
Accrued Expenses $1.613B $1.545B
YoY Change 39.18% 35.06%
Deferred Revenue
YoY Change
Short-Term Debt $351.1M $484.0M
YoY Change -16.44% -19.39%
Long-Term Debt Due $6.800M $5.000M
YoY Change -66.5% -13.79%
Total Short-Term Liabilities $3.710B $3.697B
YoY Change 9.6% 7.25%
LONG-TERM LIABILITIES
Long-Term Debt $3.814B $3.817B
YoY Change -0.24% -1.0%
Other Long-Term Liabilities $952.8M $900.7M
YoY Change -21.74% -27.75%
Total Long-Term Liabilities $4.767B $4.718B
YoY Change -5.43% -7.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.710B $3.697B
Total Long-Term Liabilities $4.767B $4.718B
Total Liabilities $8.477B $8.415B
YoY Change 0.61% -1.57%
SHAREHOLDERS EQUITY
Retained Earnings $4.794B $4.602B
YoY Change 15.32% 14.86%
Common Stock $4.907B $4.893B
YoY Change 0.19% 0.11%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.158B $2.182B
YoY Change 21.39% 27.43%
Treasury Stock Shares
Shareholders Equity $5.804B $5.669B
YoY Change
Total Liabilities & Shareholders Equity $15.74B $15.61B
YoY Change -1.61% -2.11%

Cashflow Statement

Concept 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income $271.5M $189.4M
YoY Change 0.0% 0.0%
Depreciation, Depletion And Amortization $102.0M $100.1M
YoY Change 0.0% -2.34%
Cash From Operating Activities $496.4M -$93.10M
YoY Change 58.8% -52.86%
INVESTING ACTIVITIES
Capital Expenditures $78.70M $64.90M
YoY Change 19.79% 41.39%
Acquisitions $8.000M $13.00M
YoY Change 3150.0%
Other Investing Activities $8.700M $3.500M
YoY Change -20.18% -63.92%
Cash From Investing Activities -$82.00M -$81.70M
YoY Change 174.25% 232.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$23.00M $352.9M
YoY Change -133.67% 24.66%
Debt Paid & Issued, Net $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Financing Activities -$165.9M $44.50M
YoY Change -49.7% -78.46%
NET CHANGE
Cash From Operating Activities $496.4M -$93.10M
Cash From Investing Activities -$82.00M -$81.70M
Cash From Financing Activities -$165.9M $44.50M
Net Change In Cash $248.5M -$130.3M
YoY Change -627.6% 740.65%
FREE CASH FLOW
Cash From Operating Activities $496.4M -$93.10M
Capital Expenditures $78.70M $64.90M
Free Cash Flow $417.7M -$158.0M
YoY Change 69.18% -35.09%

Facts In Submission

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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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362000000 USD
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616100000 USD
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357700000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
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us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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670300000 USD
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13900000 USD
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
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20400000 USD
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0 USD
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
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us-gaap Interest Expense
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2400000 USD
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167100000 USD
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53500000 USD
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us-gaap Operating Income Loss
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us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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us-gaap Payments For Proceeds From Hedge Investing Activities
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us-gaap Payments For Proceeds From Hedge Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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CY2016Q3 us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Other Equity
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us-gaap Payments For Repurchase Of Other Equity
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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2430100000 USD
CY2016Q3 us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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143600000 USD
CY2017Q3 us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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186900000 USD
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CY2017Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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643700000 USD
CY2017Q3 us-gaap Preferred Stock Liquidation Preference
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10000000 shares
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CY2016Q4 us-gaap Preferred Stock Value
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27000000 USD
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us-gaap Proceeds From Derivative Instrument Financing Activities
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0 USD
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Divestiture Of Businesses
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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32900000 USD
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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0 USD
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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727500000 USD
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Repayments Of Short Term Debt
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348300000 USD
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us-gaap Proceeds From Repayments Of Short Term Debt
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563600000 USD
CY2016Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
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5500000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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7600000 USD
CY2017Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
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3200000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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22500000 USD
CY2016Q1 us-gaap Product Warranty Accrual
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CY2017Q3 us-gaap Product Warranty Accrual
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106700000 USD
us-gaap Product Warranty Accrual Warranties Issued
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46200000 USD
us-gaap Product Warranty Accrual Warranties Issued
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50400000 USD
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CY2016Q3 us-gaap Provision For Doubtful Accounts
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7200000 USD
us-gaap Provision For Doubtful Accounts
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14600000 USD
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4800000 USD
us-gaap Provision For Doubtful Accounts
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us-gaap Sales Revenue Net
SalesRevenueNet
6035100000 USD
us-gaap Restructuring Charges
RestructuringCharges
18200000 USD
CY2017Q3 us-gaap Restructuring Charges
RestructuringCharges
8000000 USD
us-gaap Restructuring Charges
RestructuringCharges
23800000 USD
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
1300000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
2932400000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
5604500000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5127300000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5624400000 USD
CY2017Q3 us-gaap Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale
SecuritizationFinancialAssetForWhichTransferIsAccountedAsSaleGainLossOnSale
1900000 USD
us-gaap Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale
SecuritizationFinancialAssetForWhichTransferIsAccountedAsSaleGainLossOnSale
3300000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
659700000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1280100000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
733900000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1410400000 USD
CY2017Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
100
CY2017Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
138.10
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
4300000 USD
CY2017Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
583200000 USD
CY2016Q4 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
98.45 USD
CY2015Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
3645510 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
6367000000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
7700000000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6373600000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7706400000 USD
CY2016 us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
83200000 USD
us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
166300000 USD
us-gaap Threshold Period Past Due For Writeoff Of Financing Receivable
ThresholdPeriodPastDueForWriteoffOfFinancingReceivable
P90D
CY2015Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
96.46
CY2016Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
94.34
CY2016Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
117.84
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3940087 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2029900000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1988500000 USD
CY2016Q4 us-gaap Unearned Esop Shares
UnearnedESOPShares
25900000 USD
CY2017Q3 us-gaap Unearned Esop Shares
UnearnedESOPShares
21100000 USD
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2128000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1960000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2712000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2509000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
147263000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
147543000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152226000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151862000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145135000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145583000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149514000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149353000 shares

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