2016 Q2 Form 10-Q Financial Statement

#000128369916000100 Filed on July 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2 2015 Q1
Revenue $9.287B $8.292B $7.887B
YoY Change 12.0% 15.41% 14.72%
Cost Of Revenue $1.429B $1.397B $1.395B
YoY Change 2.29% -3.85% -4.71%
Gross Profit $7.858B $6.895B $6.492B
YoY Change 13.97% 20.29% 19.98%
Gross Profit Margin 84.61% 83.15% 82.31%
Selling, General & Admin $2.772B $2.438B $2.372B
YoY Change 13.7% 13.34% 13.17%
% of Gross Profit 35.28% 35.36% 36.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.575B $1.075B $1.087B
YoY Change 46.51% -4.78% 3.03%
% of Gross Profit 20.04% 15.59% 16.74%
Operating Expenses $2.772B $2.438B $2.372B
YoY Change 13.7% 13.34% 13.17%
Operating Profit $833.0M $710.0M $226.0M
YoY Change 17.32% -26.2% -907.14%
Interest Expense $368.0M $257.0M $261.0M
YoY Change 43.19% -5.17% -5.43%
% of Operating Profit 44.18% 36.2% 115.49%
Other Income/Expense, Net -$461.0M -$234.0M -$221.0M
YoY Change 97.01% -17.89% -1.78%
Pretax Income $372.0M $363.0M -$104.0M
YoY Change 2.48% -46.38% -58.89%
Income Tax $147.0M $2.000M -$41.00M
% Of Pretax Income 39.52% 0.55%
Net Earnings $225.0M $361.0M -$63.00M
YoY Change -37.67% -7.67% -58.28%
Net Earnings / Revenue 2.42% 4.35% -0.8%
Basic Earnings Per Share $0.26 $0.43 -$0.09
Diluted Earnings Per Share $0.25 $0.42 -$0.09
COMMON SHARES
Basic Shares Outstanding 822.4M shares 811.6M shares 808.6M shares
Diluted Shares Outstanding 829.8M shares 821.1M shares 808.6M shares

Balance Sheet

Concept 2016 Q2 2015 Q2 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.538B $2.642B $3.032B
YoY Change 109.61% -14.22% -44.58%
Cash & Equivalents $5.538B $2.642B $3.032B
Short-Term Investments $0.00
Other Short-Term Assets $1.415B $1.019B $1.063B
YoY Change 38.86% -13.57% 17.46%
Inventory $1.388B $1.135B $1.230B
Prepaid Expenses
Receivables $1.866B $1.827B $1.933B
Other Receivables $1.870B $3.555B $3.344B
Total Short-Term Assets $14.28B $11.66B $11.64B
YoY Change 22.5% 17.8% -10.2%
LONG-TERM ASSETS
Property, Plant & Equipment $20.57B $16.91B $16.48B
YoY Change 21.64% 8.84% 6.85%
Goodwill $1.683B $1.683B $1.683B
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $582.0M $320.0M $307.0M
YoY Change 81.88% -80.95% -80.76%
Total Long-Term Assets $49.69B $45.53B $44.92B
YoY Change 9.13% 9.01% 20.72%
TOTAL ASSETS
Total Short-Term Assets $14.28B $11.66B $11.64B
Total Long-Term Assets $49.69B $45.53B $44.92B
Total Assets $63.97B $57.19B $56.56B
YoY Change 11.86% 10.69% 12.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.985B $6.645B $6.793B
YoY Change 5.12% 19.62% 41.76%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $258.0M $386.0M $467.0M
YoY Change -33.16% 41.91% 209.27%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.752B $8.264B $8.649B
YoY Change 5.91% 15.89% 41.55%
LONG-TERM LIABILITIES
Long-Term Debt $21.57B $16.39B $16.26B
YoY Change 31.66% 14.04% 13.47%
Other Long-Term Liabilities $1.038B $642.0M $654.0M
YoY Change 61.68% 27.13% -2.53%
Total Long-Term Liabilities $37.82B $32.87B $32.26B
YoY Change 15.06% 9.68% 7.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.752B $8.264B $8.649B
Total Long-Term Liabilities $37.82B $32.87B $32.26B
Total Liabilities $46.57B $41.14B $40.91B
YoY Change 13.22% 10.87% 13.59%
SHAREHOLDERS EQUITY
Retained Earnings -$21.37B -$22.54B -$22.90B
YoY Change -5.22% -1.33% -1.44%
Common Stock $38.76B $38.60B $38.55B
YoY Change 0.44% 3.16% 3.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.000M $0.00 $0.00
YoY Change
Treasury Stock Shares 1.412M shares 1.383M shares 1.383M shares
Shareholders Equity $17.40B $16.05B $15.65B
YoY Change
Total Liabilities & Shareholders Equity $63.97B $57.19B $56.56B
YoY Change 11.86% 10.69% 12.73%

Cashflow Statement

Concept 2016 Q2 2015 Q2 2015 Q1
OPERATING ACTIVITIES
Net Income $225.0M $361.0M -$63.00M
YoY Change -37.67% -7.67% -58.28%
Depreciation, Depletion And Amortization $1.575B $1.075B $1.087B
YoY Change 46.51% -4.78% 3.03%
Cash From Operating Activities $1.768B $1.161B $489.0M
YoY Change 52.28% 19.69% -35.57%
INVESTING ACTIVITIES
Capital Expenditures $1.349B $1.191B $982.0M
YoY Change 13.27% -136.01% 3.7%
Acquisitions
YoY Change
Other Investing Activities -$4.000M -$2.000M $14.00M
YoY Change 100.0% -33.33% -22.22%
Cash From Investing Activities -$667.0M -$1.337B -$2.692B
YoY Change -50.11% -59.61% 178.96%
FINANCING ACTIVITIES
Cash Dividend Paid $14.00M $14.00M $14.00M
YoY Change 0.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $5.000M $0.00 $0.00
YoY Change
Cash From Financing Activities $790.0M -$214.0M -$80.00M
YoY Change -469.16% 319.61% -62.62%
NET CHANGE
Cash From Operating Activities $1.768B $1.161B $489.0M
Cash From Investing Activities -$667.0M -$1.337B -$2.692B
Cash From Financing Activities $790.0M -$214.0M -$80.00M
Net Change In Cash $1.891B -$390.0M -$2.283B
YoY Change -584.87% -83.69% 443.57%
FREE CASH FLOW
Cash From Operating Activities $1.768B $1.161B $489.0M
Capital Expenditures $1.349B $1.191B $982.0M
Free Cash Flow $419.0M -$30.00M -$493.0M
YoY Change -1496.67% -100.7% 162.23%

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TreasuryStockShares
1411888 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1000000 USD
CY2016Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
8814000000 USD
CY2016Q2 us-gaap Unrecorded Unconditional Purchase Obligation Due In Next Rolling Twelve Months
UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths
4577000000 USD
CY2016Q2 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling After Year Five
UnrecordedUnconditionalPurchaseObligationDueInRollingAfterYearFive
1119000000 USD
CY2016Q2 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling Year Five
UnrecordedUnconditionalPurchaseObligationDueInRollingYearFive
620000000 USD
CY2016Q2 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling Year Four
UnrecordedUnconditionalPurchaseObligationDueInRollingYearFour
713000000 USD
CY2016Q2 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling Year Three
UnrecordedUnconditionalPurchaseObligationDueInRollingYearThree
828000000 USD
CY2016Q2 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling Year Two
UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo
957000000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
821122537 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
819548539 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
829752956 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
829662053 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
811605031 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
810113564 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
822434490 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
820933126 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts relating to the adoption of Accounting Standards Update (&#8220;ASU&#8221;) 2015-03 have been reclassified to conform to the current presentation.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with United States (&#8220;U.S.&#8221;) generally accepted accounting principles (&#8220;GAAP&#8221;) requires our management to make estimates and assumptions which affect the financial statements and accompanying notes. Estimates are based on historical experience, where applicable, and other assumptions which our management believes are reasonable under the circumstances. These estimates are inherently subject to judgment and actual results could differ from those estimates.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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