2018 Q2 Form 10-Q Financial Statement

#000009355618000028 Filed on July 20, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $3.761B $3.209B
YoY Change 17.2% 20.1%
Cost Of Revenue $2.357B $1.790B
YoY Change 31.63% 5.65%
Gross Profit $1.300B $1.166B
YoY Change 11.5% 19.24%
Gross Profit Margin 34.56% 36.32%
Selling, General & Admin $801.8M $682.0M
YoY Change 17.57% 9.93%
% of Gross Profit 61.69% 58.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $127.7M $101.5M
YoY Change 25.81% 1.4%
% of Gross Profit 9.82% 8.71%
Operating Expenses $801.8M $682.0M
YoY Change 17.57% 9.93%
Operating Profit $532.2M $420.3M
YoY Change 26.62% 5.55%
Interest Expense $69.00M $51.30M
YoY Change 34.5% 8.46%
% of Operating Profit 12.97% 12.21%
Other Income/Expense, Net
YoY Change
Pretax Income $294.4M $473.4M
YoY Change -37.81% 86.3%
Income Tax $1.000M $79.70M
% Of Pretax Income 0.34% 16.84%
Net Earnings $356.3M $170.6M
YoY Change 108.85% -9.93%
Net Earnings / Revenue 9.47% 5.32%
Basic Earnings Per Share $2.41 $1.13
Diluted Earnings Per Share $2.37 $1.11
COMMON SHARES
Basic Shares Outstanding 149.7M shares 149.2M shares
Diluted Shares Outstanding 152.5M shares 151.5M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $386.0M $378.0M
YoY Change 2.12% 7.39%
Cash & Equivalents $385.8M $378.0M
Short-Term Investments
Other Short-Term Assets $341.2M $285.6M
YoY Change 19.47% -26.16%
Inventory $2.444B $1.977B
Prepaid Expenses
Receivables $2.151B $1.728B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.323B $4.368B
YoY Change 21.85% 8.75%
LONG-TERM ASSETS
Property, Plant & Equipment $1.817B $1.538B
YoY Change 18.12% 5.15%
Goodwill $8.948B $8.364B
YoY Change 6.98% 16.69%
Intangibles $3.597B $3.603B
YoY Change -0.18% 42.25%
Long-Term Investments
YoY Change
Other Assets $495.5M $788.0M
YoY Change -37.12% 84.63%
Total Long-Term Assets $14.86B $14.29B
YoY Change 3.94% 23.32%
TOTAL ASSETS
Total Short-Term Assets $5.323B $4.368B
Total Long-Term Assets $14.86B $14.29B
Total Assets $20.18B $18.66B
YoY Change 8.13% 19.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.289B $1.929B
YoY Change 18.65% 16.03%
Accrued Expenses $1.270B $1.118B
YoY Change 13.58% -27.64%
Deferred Revenue
YoY Change
Short-Term Debt $1.102B $1.159B
YoY Change -4.99% 139.52%
Long-Term Debt Due $978.9M $8.100M
YoY Change 11985.19% 62.0%
Total Short-Term Liabilities $5.639B $4.214B
YoY Change 33.8% 14.01%
LONG-TERM LIABILITIES
Long-Term Debt $2.831B $3.816B
YoY Change -25.8% -0.04%
Other Long-Term Liabilities $2.451B $2.002B
YoY Change 22.45% 122.23%
Total Long-Term Liabilities $5.282B $5.817B
YoY Change -9.2% 23.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.639B $4.214B
Total Long-Term Liabilities $5.282B $5.817B
Total Liabilities $10.92B $10.03B
YoY Change 8.87% 19.22%
SHAREHOLDERS EQUITY
Retained Earnings $6.274B $5.434B
YoY Change 15.46% 18.08%
Common Stock $5.049B $5.210B
YoY Change -3.1% 6.47%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.100B $2.002B
YoY Change 4.9% -8.25%
Treasury Stock Shares
Shareholders Equity $8.185B $6.812B
YoY Change
Total Liabilities & Shareholders Equity $20.18B $18.66B
YoY Change 8.13% 19.57%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $356.3M $170.6M
YoY Change 108.85% -9.93%
Depreciation, Depletion And Amortization $127.7M $101.5M
YoY Change 25.81% 1.4%
Cash From Operating Activities $198.0M -$314.1M
YoY Change -163.04% 237.38%
INVESTING ACTIVITIES
Capital Expenditures $111.7M $64.70M
YoY Change 72.64% -0.31%
Acquisitions $505.6M $2.435B
YoY Change -79.24% 18633.85%
Other Investing Activities $0.00 $3.800M
YoY Change -100.0% 8.57%
Cash From Investing Activities -$587.5M -$1.596B
YoY Change -63.19% 1853.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $190.5M -$3.800M
YoY Change -5113.16% -101.08%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities $457.5M $1.073B
YoY Change -57.35% 2310.79%
NET CHANGE
Cash From Operating Activities $198.0M -$314.1M
Cash From Investing Activities -$587.5M -$1.596B
Cash From Financing Activities $457.5M $1.073B
Net Change In Cash -$19.80M -$837.3M
YoY Change -97.64% 542.59%
FREE CASH FLOW
Cash From Operating Activities $198.0M -$314.1M
Capital Expenditures $111.7M $64.70M
Free Cash Flow $86.30M -$378.8M
YoY Change -122.78% 139.75%

Facts In Submission

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us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
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358300000 USD
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294400000 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 Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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53900000 USD
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SecuritizationFinancialAssetForWhichTransferIsAccountedAsSaleGainLossOnSale
1900000 USD
us-gaap Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale
SecuritizationFinancialAssetForWhichTransferIsAccountedAsSaleGainLossOnSale
3300000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
738600000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1420600000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
801800000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1580600000 USD
CY2017Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
100
CY2018Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
137.92
CY2017Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
138.10
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
5300000 USD
CY2018Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
1101500000 USD
CY2015Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
3645510 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
8302200000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
8185400000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8305000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8187800000 USD
CY2017Q3 us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
104700000 USD
us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
227800000 USD
CY2017 us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
106900000 USD
CY2018Q2 us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
0 USD
us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
0 USD
us-gaap Threshold Period Past Due For Writeoff Of Financing Receivable
ThresholdPeriodPastDueForWriteoffOfFinancingReceivable
P90D
CY2018Q2 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
200000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1399732 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1924100000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
2100400000 USD
CY2017Q4 us-gaap Unearned Esop Shares
UnearnedESOPShares
18800000 USD
CY2018Q2 us-gaap Unearned Esop Shares
UnearnedESOPShares
14400000 USD
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
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2746000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3023000 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
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152494000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
153124000 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
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149748000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
150101000 shares

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