2018 Q2 Form 10-Q Financial Statement

#000007031818000030 Filed on August 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $4.506B $4.802B
YoY Change -6.16% -8.01%
Cost Of Revenue $748.0M $780.0M
YoY Change -4.1% 0.91%
Gross Profit $3.758B $4.022B
YoY Change -6.56% -1.78%
Gross Profit Margin 83.4% 83.76%
Selling, General & Admin $2.135B $2.346B
YoY Change -8.99% 1.6%
% of Gross Profit 56.81% 58.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $194.0M $222.0M
YoY Change -12.61% 3.26%
% of Gross Profit 5.16% 5.52%
Operating Expenses $3.356B $3.721B
YoY Change -9.81% 0.13%
Operating Profit $406.0M $310.0M
YoY Change 30.97% 13.14%
Interest Expense $254.0M $260.0M
YoY Change -2.31% 6.56%
% of Operating Profit 62.56% 83.87%
Other Income/Expense, Net -$1.000M -$5.000M
YoY Change -80.0% 0.0%
Pretax Income $150.0M $19.00M
YoY Change 689.47% -24.0%
Income Tax $44.00M -$12.00M
% Of Pretax Income 29.33% -63.16%
Net Earnings $108.0M $32.00M
YoY Change 237.5% -17.95%
Net Earnings / Revenue 2.4% 0.67%
Basic Earnings Per Share $0.25 -$0.55
Diluted Earnings Per Share $0.25 -$0.55
COMMON SHARES
Basic Shares Outstanding 102.1M shares 100.6M shares
Diluted Shares Outstanding 104.2M shares 100.6M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $403.0M $475.0M
YoY Change -15.16% -27.59%
Cash & Equivalents $403.0M $475.0M
Short-Term Investments
Other Short-Term Assets $1.041B $1.173B
YoY Change -11.25% -8.64%
Inventory $298.0M $316.0M
Prepaid Expenses
Receivables $2.483B $2.706B
Other Receivables $28.00M $7.000M
Total Short-Term Assets $4.705B $5.382B
YoY Change -12.58% 7.79%
LONG-TERM ASSETS
Property, Plant & Equipment $6.863B $7.738B
YoY Change -11.31% -3.0%
Goodwill $7.218B $7.157B
YoY Change 0.85%
Intangibles $1.793B $1.806B
YoY Change -0.72%
Long-Term Investments $1.416B $1.238B
YoY Change 14.38% -6.0%
Other Assets $348.0M $1.020B
YoY Change -65.88% 27.98%
Total Long-Term Assets $17.64B $18.96B
YoY Change -6.97% -1.5%
TOTAL ASSETS
Total Short-Term Assets $4.705B $5.382B
Total Long-Term Assets $17.64B $18.96B
Total Assets $22.34B $24.34B
YoY Change -8.21% 0.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.047B $1.086B
YoY Change -3.59% -14.62%
Accrued Expenses $954.0M $988.0M
YoY Change -3.44% -37.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $663.0M $143.0M
YoY Change 363.64% -20.99%
Total Short-Term Liabilities $4.354B $4.337B
YoY Change 0.39% -2.1%
LONG-TERM LIABILITIES
Long-Term Debt $14.20B $15.01B
YoY Change -5.38% 4.83%
Other Long-Term Liabilities $599.0M $598.0M
YoY Change 0.17% -66.57%
Total Long-Term Liabilities $599.0M $598.0M
YoY Change 0.17% -96.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.354B $4.337B
Total Long-Term Liabilities $599.0M $598.0M
Total Liabilities $20.34B $21.51B
YoY Change -5.43% -9.33%
SHAREHOLDERS EQUITY
Retained Earnings -$2.222B -$1.794B
YoY Change 23.86%
Common Stock $7.000M $7.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$154.0M $373.0M
YoY Change
Total Liabilities & Shareholders Equity $22.34B $24.34B
YoY Change -8.21% 0.42%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $108.0M $32.00M
YoY Change 237.5% -17.95%
Depreciation, Depletion And Amortization $194.0M $222.0M
YoY Change -12.61% 3.26%
Cash From Operating Activities $348.0M $215.0M
YoY Change 61.86% -50.57%
INVESTING ACTIVITIES
Capital Expenditures -$125.0M -$150.0M
YoY Change -16.67% -26.83%
Acquisitions
YoY Change
Other Investing Activities -$23.00M $31.00M
YoY Change -174.19% -150.82%
Cash From Investing Activities -$148.0M -$119.0M
YoY Change 24.37% -55.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -771.0M -193.0M
YoY Change 299.48% -19.92%
NET CHANGE
Cash From Operating Activities 348.0M 215.0M
Cash From Investing Activities -148.0M -119.0M
Cash From Financing Activities -771.0M -193.0M
Net Change In Cash -571.0M -97.00M
YoY Change 488.66% 34.72%
FREE CASH FLOW
Cash From Operating Activities $348.0M $215.0M
Capital Expenditures -$125.0M -$150.0M
Free Cash Flow $473.0M $365.0M
YoY Change 29.59% -42.97%

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us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
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us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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CY2018Q2 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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us-gaap Equity Method Investment Summarized Financial Information Revenue
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us-gaap Equity Method Investment Summarized Financial Information Revenue
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CY2018Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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108000000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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us-gaap Gain Loss Related To Litigation Settlement
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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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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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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us-gaap Income Tax Reconciliation Minority Interest Income Expense
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us-gaap Income Tax Reconciliation Minority Interest Income Expense
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us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Tax Reconciliation State And Local Income Taxes
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us-gaap Income Tax Reconciliation State And Local Income Taxes
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us-gaap Income Tax Reconciliation Tax Contingencies
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us-gaap Income Tax Reconciliation Tax Contingencies
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Interest Expense
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us-gaap Labor And Related Expense
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us-gaap Malpractice Insurance Annual Coverage Limit
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0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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10000000 USD
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29000000 USD
us-gaap Payments Of Debt Issuance Costs
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0 USD
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89000000 USD
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37000000 USD
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348000000 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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14000000 USD
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3000000 USD
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14000000 USD
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100000000 USD
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14000000 USD
us-gaap Proceeds From Sale Of Interest In Corporate Unit
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CY2017Q2 us-gaap Profit Loss
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32000000 USD
us-gaap Profit Loss
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68000000 USD
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108000000 USD
us-gaap Profit Loss
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299000000 USD
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
754000000 USD
us-gaap Provision For Doubtful Accounts
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0 USD
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us-gaap Repayments Of Long Term Debt And Capital Securities
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161000000 USD
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100000000 USD
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360000000 USD
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44000000 USD
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us-gaap Restructuring Settlement And Impairment Provisions
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CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2017Q2 us-gaap Revenues
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us-gaap Revenues
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CY2018Q2 us-gaap Revenues
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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9.16
us-gaap Revenues
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us-gaap Severance Costs1
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us-gaap Share Based Compensation
ShareBasedCompensation
20000000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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5200000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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8.52
CY2018Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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1000000 USD
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25000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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30000000 USD
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CY2018Q2 us-gaap Stockholders Equity
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1082000000 USD
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1055000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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539000000 USD
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576000000 USD
CY2017Q4 us-gaap Treasury Stock Common Shares
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48413169 shares
CY2018Q2 us-gaap Treasury Stock Common Shares
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2419000000 USD
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2418000000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits
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46000000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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44000000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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100612000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100306000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104177000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103416000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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100612000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100306000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102147000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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101770000 shares

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