2016 Q4 Form 10-Q Financial Statement

#000160171216000175 Filed on October 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
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 $55.00M $56.00M $46.00M
YoY Change 17.02% 21.74% 39.39%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $319.0M $315.0M $289.0M
YoY Change 5.98% 9.0% 18.44%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $908.0M $963.0M $919.0M
YoY Change 4.61% 4.79% 4.55%
Income Tax $332.0M $359.0M $345.0M
% Of Pretax Income 36.56% 37.28% 37.54%
Net Earnings $576.0M $604.0M $574.0M
YoY Change 5.3% 5.23% 4.74%
Net Earnings / Revenue
Basic Earnings Per Share $0.70 $0.73 $0.69
Diluted Earnings Per Share $0.70 $0.73 $0.69
COMMON SHARES
Basic Shares Outstanding 825.5M shares 828.4M shares 834.0M shares
Diluted Shares Outstanding 830.6M shares 836.0M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $9.321B $13.59B $12.27B
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 $949.0M
YoY Change 0.0% 0.0% 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 $90.21B $87.16B $79.44B
YoY Change 7.4% 9.71% 8.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.809B $3.196B $2.855B
YoY Change 1.84% 11.94% -12.29%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.809B $3.196B $2.855B
YoY Change 1.84% 11.94% -25.98%
LONG-TERM LIABILITIES
Long-Term Debt $20.15B $20.17B $23.88B
YoY Change -17.02% -15.55% -11.49%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $20.15B $20.17B $23.88B
YoY Change -17.02% -15.55% -11.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.809B $3.196B $2.855B
Total Long-Term Liabilities $20.15B $20.17B $23.88B
Total Liabilities $76.01B $73.18B $67.28B
YoY Change 6.48% 8.76% 5.91%
SHAREHOLDERS EQUITY
Retained Earnings $5.330B $4.861B $2.746B
YoY Change 61.86% 77.02% 401.09%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $475.0M $238.0M
YoY Change
Treasury Stock Shares 16.63M shares 8.520M shares
Shareholders Equity $14.20B $13.98B $12.16B
YoY Change
Total Liabilities & Shareholders Equity $90.21B $87.16B $79.44B
YoY Change 7.4% 9.71% 8.13%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $576.0M $604.0M $574.0M
YoY Change 5.3% 5.23% 4.74%
Depreciation, Depletion And Amortization $55.00M $56.00M $46.00M
YoY Change 17.02% 21.74% 39.39%
Cash From Operating Activities $1.724B $1.815B $1.317B
YoY Change -8.73% 37.81% 1.7%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$8.213B -$3.916B -$2.619B
YoY Change 58.16% 49.52% -9.56%
Cash From Investing Activities -$8.213B -$3.916B -$2.619B
YoY Change 58.16% 49.52% -9.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.178B 3.902B 2.952B
YoY Change -35.14% 32.18% -69.34%
NET CHANGE
Cash From Operating Activities 1.724B 1.815B 1.317B
Cash From Investing Activities -8.213B -3.916B -2.619B
Cash From Financing Activities 2.178B 3.902B 2.952B
Net Change In Cash -4.311B 1.801B 1.650B
YoY Change -8083.33% 9.15% -79.44%
FREE CASH FLOW
Cash From Operating Activities $1.724B $1.815B $1.317B
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
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us-gaap Information Technology And Data Processing
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250000000 USD
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210000000 USD
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188000000 USD
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539000000 USD
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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us-gaap Payments To Acquire Available For Sale Securities
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us-gaap Professional Fees
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us-gaap Professional Fees
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us-gaap Provision For Loan Losses Expensed
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4151000000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
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391000000 USD
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CY2016Q3 us-gaap Senior Notes
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CY2015Q3 us-gaap Stockholders Equity
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11900000000 USD
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14000000000 USD
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TreasuryStockValue
238000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
238000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
327000000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
167000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
3000000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
10000000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
90000000 USD
CY2015Q4 us-gaap Unsecured Debt
UnsecuredDebt
4133000000 USD
CY2016Q3 us-gaap Unsecured Debt
UnsecuredDebt
0 USD
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
835000000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
831000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
834000000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
834000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
834000000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
828000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
832000000 shares
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 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 financial statements should not be considered as necessarily indicative of results that may be expected for the entire year. These condensed consolidated financial statements should be read in conjunction with our 2015 annual consolidated and combined financial statements and the related notes in our Annual Report on Form 10-K for the year ended </font><font style="font-family:Arial;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:Arial;font-size:10pt;"> (our "2015 Form 10-K"). </font></div></div>

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