2015 Q2 Form 10-Q Financial Statement

#000160171215000026 Filed on July 31, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $44.00M $32.00M
YoY Change 37.5% 28.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $270.0M $206.0M
YoY Change 31.07% 15.73%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $861.0M $764.0M
YoY Change 12.7% -10.75%
Income Tax $320.0M $292.0M
% Of Pretax Income 37.17% 38.22%
Net Earnings $541.0M $472.0M
YoY Change 14.62% -11.94%
Net Earnings / Revenue
Basic Earnings Per Share $0.65 $0.67
Diluted Earnings Per Share $0.65 $0.67
COMMON SHARES
Basic Shares Outstanding 834.0M shares 705.0M shares
Diluted Shares Outstanding 835.0M shares 705.0M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $10.62B $6.782B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $949.0M $949.0M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $75.75B $63.18B
YoY Change 19.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $2.708B $3.347B
YoY Change -19.09%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $626.0M
YoY Change
Total Short-Term Liabilities $2.708B $3.973B
YoY Change -31.84%
LONG-TERM LIABILITIES
Long-Term Debt $23.69B $22.35B
YoY Change 6.02%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $23.69B $22.35B
YoY Change 6.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.708B $3.973B
Total Long-Term Liabilities $23.69B $22.35B
Total Liabilities $64.17B $56.78B
YoY Change 13.01%
SHAREHOLDERS EQUITY
Retained Earnings $2.172B $0.00
YoY Change
Common Stock $1.000M $1.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.58B $6.393B
YoY Change
Total Liabilities & Shareholders Equity $75.75B $63.18B
YoY Change 19.91%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $541.0M $472.0M
YoY Change 14.62% -11.94%
Depreciation, Depletion And Amortization $44.00M $32.00M
YoY Change 37.5% 28.0%
Cash From Operating Activities $1.313B $1.227B
YoY Change 7.01% 3.63%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$4.341B -$2.880B
YoY Change 50.73% 16.65%
Cash From Investing Activities -$4.341B -$2.880B
YoY Change 50.73% 16.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.431B 3.104B
YoY Change -21.68% -433.4%
NET CHANGE
Cash From Operating Activities 1.313B 1.227B
Cash From Investing Activities -4.341B -2.880B
Cash From Financing Activities 2.431B 3.104B
Net Change In Cash -597.0M 1.451B
YoY Change -141.14% -165.48%
FREE CASH FLOW
Cash From Operating Activities $1.313B $1.227B
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Period End Date
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us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Interim Period Presentation</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The condensed consolidated and combined financial statements and notes thereto are unaudited. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these condensed consolidated and combined financial statements should not be considered as necessarily indicative of results that may be expected for the entire year. These condensed consolidated and combined financial statements should be read in conjunction with our 2014 annual consolidated and combined financial statements and the related notes in our Annual Report on Form 10-K for the year ended December 31, 2014 (our "2014 Form 10-K"). Effective for the first quarter of 2015 and subsequent interim periods, the Company is following a calendar quarter. Previously, it was the longstanding practice of GE and GECC, our parent companies, to establish interim quarterly closing dates using a fiscal calendar, which required our business to close its books on a Sunday. We label our quarterly information using a calendar convention, that is, first quarter is labeled as ending on March 31, second quarter as ending on June 30, and third quarter as ending on September 30.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">We have reclassified certain prior-period amounts to conform to current-period presentation.</font></div></div>

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