2009 Q2 Form 10-Q Financial Statement
#000009721609000168 Filed on July 30, 2009
Income Statement
| Concept | 2009 Q2 | 2008 Q4 | 2008 Q2 |
|---|---|---|---|
| Revenue | $947.3M | $1.656B | $2.936B |
| YoY Change | -67.73% | -35.97% | 25.35% |
| Cost Of Revenue | $868.3M | $1.434B | $2.285B |
| YoY Change | -62.0% | -31.33% | 24.5% |
| Gross Profit | $79.00M | $222.4M | $651.2M |
| YoY Change | -87.87% | -55.4% | 28.42% |
| Gross Profit Margin | 8.34% | 13.43% | 22.18% |
| Selling, General & Admin | $170.6M | $215.3M | $280.3M |
| YoY Change | -39.14% | -16.78% | 25.92% |
| % of Gross Profit | 215.95% | 96.81% | 43.04% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $18.80M | $10.40M | $24.50M |
| YoY Change | -23.27% | -24.64% | 33.88% |
| % of Gross Profit | 23.8% | 4.68% | 3.76% |
| Operating Expenses | $170.6M | $215.3M | $280.3M |
| YoY Change | -39.14% | -16.78% | 25.92% |
| Operating Profit | -$91.60M | $7.100M | $370.9M |
| YoY Change | -124.7% | -97.04% | 30.37% |
| Interest Expense | -$24.40M | -$24.10M | $24.30M |
| YoY Change | -200.41% | 58.55% | -316.96% |
| % of Operating Profit | -339.44% | 6.55% | |
| Other Income/Expense, Net | $4.200M | -$7.500M | $2.300M |
| YoY Change | 82.61% | -166.37% | -215.0% |
| Pretax Income | -$138.6M | -$484.4M | $353.9M |
| YoY Change | -139.16% | -305.25% | 30.45% |
| Income Tax | -$39.40M | -$33.40M | $116.8M |
| % Of Pretax Income | 33.0% | ||
| Net Earnings | -$77.60M | -$421.5M | $236.3M |
| YoY Change | -132.84% | -342.24% | 35.34% |
| Net Earnings / Revenue | -8.19% | -25.45% | 8.05% |
| Basic Earnings Per Share | $2.35 | ||
| Diluted Earnings Per Share | -$783.0K | -$4.456M | $2.32 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 100.5M shares | ||
| Diluted Shares Outstanding | 99.10M shares | 102.0M shares |
Balance Sheet
| Concept | 2009 Q2 | 2008 Q4 | 2008 Q2 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $938.5M | $450.4M | $590.0M |
| YoY Change | 59.07% | -64.6% | 30.13% |
| Cash & Equivalents | $938.5M | $450.4M | $590.0M |
| Short-Term Investments | |||
| Other Short-Term Assets | $361.6M | $215.2M | $411.2M |
| YoY Change | -12.06% | -42.52% | 28.38% |
| Inventory | $2.002B | $2.235B | $2.530B |
| Prepaid Expenses | |||
| Receivables | $639.8M | $804.1M | $1.513B |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $3.942B | $4.041B | $5.044B |
| YoY Change | -21.85% | -15.41% | 29.48% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $495.5M | $481.5M | $502.6M |
| YoY Change | -1.41% | 14.81% | 38.72% |
| Goodwill | $457.0M | ||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $463.4M | $381.5M | $436.4M |
| YoY Change | 6.19% | -9.38% | 13.0% |
| Total Long-Term Assets | $1.435B | $1.405B | $1.950B |
| YoY Change | -26.38% | -8.76% | 40.79% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $3.942B | $4.041B | $5.044B |
| Total Long-Term Assets | $1.435B | $1.405B | $1.950B |
| Total Assets | $5.377B | $5.445B | $6.994B |
| YoY Change | -23.11% | -13.79% | 32.44% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $518.9M | $983.9M | $1.451B |
| YoY Change | -64.24% | -18.88% | 16.45% |
| Accrued Expenses | $297.6M | $265.6M | $351.5M |
| YoY Change | -15.33% | -18.73% | 22.05% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $51.40M | $39.10M | $36.10M |
| YoY Change | 42.38% | 20.31% | 47.35% |
| Total Short-Term Liabilities | $1.312B | $1.825B | $2.521B |
| YoY Change | -47.96% | -16.12% | 22.5% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $1.685B | $1.396B | $1.320B |
| YoY Change | 27.69% | 5.83% | 110.43% |
| Other Long-Term Liabilities | $501.3M | $480.5M | $488.5M |
| YoY Change | 2.62% | 0.46% | -6.45% |
| Total Long-Term Liabilities | $2.187B | $1.877B | $1.808B |
| YoY Change | 20.91% | 4.4% | 57.33% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $1.312B | $1.825B | $2.521B |
| Total Long-Term Liabilities | $2.187B | $1.877B | $1.808B |
| Total Liabilities | $3.517B | $3.702B | $4.329B |
| YoY Change | -18.76% | -6.84% | 34.98% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $1.357B | ||
| YoY Change | |||
| Common Stock | $1.047B | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $599.9M | ||
| YoY Change | |||
| Treasury Stock Shares | 13.10M shares | 13.10M shares | |
| Shareholders Equity | $1.860B | $1.722B | $2.665B |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $5.377B | $5.445B | $6.994B |
| YoY Change | -23.11% | -13.79% | 32.44% |
Cashflow Statement
| Concept | 2009 Q2 | 2008 Q4 | 2008 Q2 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$77.60M | -$421.5M | $236.3M |
| YoY Change | -132.84% | -342.24% | 35.34% |
| Depreciation, Depletion And Amortization | $18.80M | $10.40M | $24.50M |
| YoY Change | -23.27% | -24.64% | 33.88% |
| Cash From Operating Activities | $102.9M | $218.8M | $134.3M |
| YoY Change | -23.38% | -44.73% | 77.18% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$13.00M | -$14.50M | -$39.00M |
| YoY Change | -66.67% | -35.84% | 78.9% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$500.0K | -$15.50M | -$38.20M |
| YoY Change | -98.69% | -90.69% | -4875.0% |
| Cash From Investing Activities | -$13.50M | -$30.00M | -$77.20M |
| YoY Change | -82.51% | -84.13% | 267.62% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $156.0M | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 473.4M | -166.3M | -82.40M |
| YoY Change | -674.51% | -131.33% | 102.96% |
| NET CHANGE | |||
| Cash From Operating Activities | 102.9M | 218.8M | 134.3M |
| Cash From Investing Activities | -13.50M | -30.00M | -77.20M |
| Cash From Financing Activities | 473.4M | -166.3M | -82.40M |
| Net Change In Cash | 562.8M | 22.50M | -25.30M |
| YoY Change | -2324.51% | -96.95% | -278.17% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $102.9M | $218.8M | $134.3M |
| Capital Expenditures | -$13.00M | -$14.50M | -$39.00M |
| Free Cash Flow | $115.9M | $233.3M | $173.3M |
| YoY Change | -33.12% | -44.25% | 77.56% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2008Q4 | us-gaap |
Assets Current
AssetsCurrent
|
4040900000 | USD |
| CY2008Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
481500000 | USD |
| CY2008Q4 | us-gaap |
Goodwill
Goodwill
|
457000000 | USD |
| CY2008Q4 | us-gaap |
Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
|
84500000 | USD |
| CY2008Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
381500000 | USD |
| CY2009Q2 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
938500000 | USD |
| CY2008Q4 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
484400000 | USD |
| CY2008Q4 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
967500000 | USD |
| CY2008Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
62800000 | USD |
| CY2008Q4 | us-gaap |
Inventory Net
InventoryNet
|
2234800000 | USD |
| CY2008Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
139000000 | USD |
| CY2008Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
215200000 | USD |
| CY2008Q4 | us-gaap |
Assets
Assets
|
5445400000 | USD |
| CY2008Q4 | us-gaap |
Debt Current
DebtCurrent
|
39400000 | USD |
| CY2008Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
983900000 | USD |
| CY2008Q4 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
119300000 | USD |
| CY2008Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
363400000 | USD |
| CY2008Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1824600000 | USD |
| CY2008Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1396400000 | USD |
| CY2008Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
480500000 | USD |
| CY2008Q4 | us-gaap |
Liabilities
Liabilities
|
3701500000 | USD |
| us-gaap |
Commitments And Contingencies2009
CommitmentsAndContingencies2009
|
|||
| CY2008Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
1100000 | USD |
| CY2009Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2008Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2009Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
| CY2008Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
| CY2009Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
120200000 | shares |
| CY2008Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
107100000 | shares |
| CY2008Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
1046200000 | USD |
| CY2008Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
1356600000 | USD |
| CY2008Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-82300000 | USD |
| CY2008Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
599900000 | USD |
| CY2009Q2 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
13100000 | shares |
| CY2008Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
13100000 | shares |
| CY2008Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1721700000 | USD |
| CY2008Q4 | us-gaap |
Minority Interest
MinorityInterest
|
22200000 | USD |
| CY2008Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
5445400000 | USD |
| us-gaap |
Depreciation
Depreciation
|
36400000 | USD | |
| us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
10500000 | USD | |
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
19300000 | USD | |
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
1200000 | USD | |
| us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
6500000 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
446400000 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
176600000 | USD | |
| us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-22700000 | USD | |
| us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
74000000 | USD | |
| us-gaap |
Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
|
-78100000 | USD | |
| us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-26800000 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-56100000 | USD | |
| us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
63800000 | USD | |
| us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
2800000 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-539100000 | USD | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2000000 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-127300000 | USD | |
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
40100000 | USD | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-682400000 | USD | |
| CY2007Q4 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
1272400000 | USD |
| CY2007Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
2363000000 | USD |
| CY2008 | us-gaap |
Profit Loss
ProfitLoss
|
75600000 | USD |
| CY2008 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
|
-331900000 | USD |
| CY2008 | us-gaap |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
|
-10700000 | USD |
| CY2008 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
|
4000000 | USD |
| CY2008 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-263000000 | USD |
| CY2008Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
2935900000 | USD |
| us-gaap |
Sales Revenue Net
SalesRevenueNet
|
5298600000 | USD | |
| CY2008Q2 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
2284700000 | USD |
| us-gaap |
Cost Of Revenue
CostOfRevenue
|
4133400000 | USD | |
| CY2008Q2 | us-gaap |
Gross Profit
GrossProfit
|
651200000 | USD |
| us-gaap |
Gross Profit
GrossProfit
|
1165200000 | USD | |
| CY2008Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
280300000 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
538000000 | USD | |
| CY2008Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
370900000 | USD |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
627200000 | USD | |
| CY2008Q2 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
5000000 | USD |
| us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
14100000 | USD | |
| CY2008Q2 | us-gaap |
Interest Expense
InterestExpense
|
24300000 | USD |
| us-gaap |
Interest Expense
InterestExpense
|
49800000 | USD | |
| CY2008Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
2300000 | USD |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
9800000 | USD | |
| CY2008Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
116800000 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
200000000 | USD | |
| CY2008Q2 | us-gaap |
Profit Loss
ProfitLoss
|
237100000 | USD |
| us-gaap |
Profit Loss
ProfitLoss
|
401300000 | USD | |
| CY2008Q2 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
800000 | USD |
| us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
1700000 | USD | |
| CY2008Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
236300000 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
399600000 | USD | |
| CY2008Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.35 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
3.96 | ||
| CY2008Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.32 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
3.89 | ||
| CY2008Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
100500000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
100800000 | shares | |
| CY2009Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
99100000 | shares |
| CY2008Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
102000000 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
102600000 | shares | |
| CY2008Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
169300000 | USD |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
31900000 | USD | |
| us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
232700000 | USD | |
| us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
478100000 | USD | |
| us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
6500000 | USD | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
135600000 | USD | |
| us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-1200000 | USD | |
| CY2008 | us-gaap |
Minority Interest Increase From Stock Issuance
MinorityInterestIncreaseFromStockIssuance
|
1000000 | USD |
| us-gaap |
Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
|
1700000 | USD |
