2017 Q3 Form 10-Q Financial Statement

#000128369917000043 Filed on October 23, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3 2016 Q2
Revenue $10.02B $9.305B $9.287B
YoY Change 7.67% 16.94% 12.0%
Cost Of Revenue $1.594B $1.436B $1.429B
YoY Change 11.0% 4.21% 2.29%
Gross Profit $8.425B $7.869B $7.858B
YoY Change 7.07% 19.61% 13.97%
Gross Profit Margin 84.09% 84.57% 84.61%
Selling, General & Admin $3.098B $2.898B $2.772B
YoY Change 6.9% 10.44% 13.7%
% of Gross Profit 36.77% 36.83% 35.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.416B $1.568B $1.575B
YoY Change -9.69% 35.52% 46.51%
% of Gross Profit 16.81% 19.93% 20.04%
Operating Expenses $3.098B $2.898B $2.772B
YoY Change 6.9% 10.44% 13.7%
Operating Profit $1.323B $1.048B $833.0M
YoY Change 26.24% 68.76% 17.32%
Interest Expense $253.0M $376.0M $368.0M
YoY Change -32.71% 43.51% 43.19%
% of Operating Profit 19.12% 35.88% 44.18%
Other Income/Expense, Net -$417.0M -$450.0M -$461.0M
YoY Change -7.33% 63.64% 97.01%
Pretax Income $906.0M $598.0M $372.0M
YoY Change 51.51% 151.26% 2.48%
Income Tax $356.0M $232.0M $147.0M
% Of Pretax Income 39.29% 38.8% 39.52%
Net Earnings $550.0M $366.0M $225.0M
YoY Change 50.27% 165.22% -37.67%
Net Earnings / Revenue 5.49% 3.93% 2.42%
Basic Earnings Per Share $0.65 $0.43 $0.26
Diluted Earnings Per Share $0.63 $0.42 $0.25
COMMON SHARES
Basic Shares Outstanding 831.2M shares 823.0M shares 822.4M shares
Diluted Shares Outstanding 871.4M shares 832.3M shares 829.8M shares

Balance Sheet

Concept 2017 Q3 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $739.0M $5.352B $5.538B
YoY Change -86.19% 103.27% 109.61%
Cash & Equivalents $739.0M $5.352B $5.538B
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $1.817B $1.336B $1.415B
YoY Change 36.0% -29.31% 38.86%
Inventory $999.0M $1.039B $1.388B
Prepaid Expenses
Receivables $1.734B $1.885B $1.866B
Other Receivables $2.160B $1.715B $1.870B
Total Short-Term Assets $7.449B $13.53B $14.28B
YoY Change -44.94% 6.91% 22.5%
LONG-TERM ASSETS
Property, Plant & Equipment $21.57B $20.57B $20.57B
YoY Change 4.84% 13.66% 21.64%
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 $858.0M $625.0M $582.0M
YoY Change 37.28% 78.06% 81.88%
Total Long-Term Assets $60.47B $50.74B $49.69B
YoY Change 19.18% 10.75% 9.13%
TOTAL ASSETS
Total Short-Term Assets $7.449B $13.53B $14.28B
Total Long-Term Assets $60.47B $50.74B $49.69B
Total Assets $67.92B $64.27B $63.97B
YoY Change 5.68% 9.92% 11.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.071B $6.146B $6.985B
YoY Change -1.22% -17.77% 5.12%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $558.0M $325.0M $258.0M
YoY Change 71.69% 185.09% -33.16%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.103B $8.119B $8.752B
YoY Change -0.2% -8.19% 5.91%
LONG-TERM LIABILITIES
Long-Term Debt $13.16B $21.83B $21.57B
YoY Change -39.69% 32.74% 31.66%
Other Long-Term Liabilities $967.0M $1.007B $1.038B
YoY Change -3.97% 26.67% 61.68%
Total Long-Term Liabilities $39.54B $38.30B $37.82B
YoY Change 3.25% 14.75% 15.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.103B $8.119B $8.752B
Total Long-Term Liabilities $39.54B $38.30B $37.82B
Total Liabilities $47.65B $46.42B $46.57B
YoY Change 2.64% 9.94% 13.22%
SHAREHOLDERS EQUITY
Retained Earnings -$18.78B -$21.00B -$21.37B
YoY Change -10.57% -6.27% -5.22%
Common Stock $39.06B $38.85B $38.76B
YoY Change 0.53% 0.5% 0.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.000M $1.000M $1.000M
YoY Change 300.0%
Treasury Stock Shares 1.455M shares 1.411M shares 1.412M shares
Shareholders Equity $20.28B $17.85B $17.40B
YoY Change
Total Liabilities & Shareholders Equity $67.92B $64.27B $63.97B
YoY Change 5.68% 9.92% 11.86%

Cashflow Statement

Concept 2017 Q3 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income $550.0M $366.0M $225.0M
YoY Change 50.27% 165.22% -37.67%
Depreciation, Depletion And Amortization $1.416B $1.568B $1.575B
YoY Change -9.69% 35.52% 46.51%
Cash From Operating Activities $1.252B $1.740B $1.768B
YoY Change -28.05% 13.65% 52.28%
INVESTING ACTIVITIES
Capital Expenditures $1.441B $1.159B $1.349B
YoY Change 24.33% 3.48% 13.27%
Acquisitions $0.00
YoY Change
Other Investing Activities -$1.000M -$5.000M -$4.000M
YoY Change -80.0% 0.0% 100.0%
Cash From Investing Activities -$345.0M -$1.859B -$667.0M
YoY Change -81.44% 53.76% -50.11%
FINANCING ACTIVITIES
Cash Dividend Paid $13.00M $13.00M $14.00M
YoY Change 0.0% 0.0% 0.0%
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $0.00 $5.000M $5.000M
YoY Change -100.0%
Cash From Financing Activities -$349.0M -$67.00M $790.0M
YoY Change 420.9% -79.76% -469.16%
NET CHANGE
Cash From Operating Activities $1.252B $1.740B $1.768B
Cash From Investing Activities -$345.0M -$1.859B -$667.0M
Cash From Financing Activities -$349.0M -$67.00M $790.0M
Net Change In Cash $558.0M -$186.0M $1.891B
YoY Change -400.0% 1966.67% -584.87%
FREE CASH FLOW
Cash From Operating Activities $1.252B $1.740B $1.768B
Capital Expenditures $1.441B $1.159B $1.349B
Free Cash Flow -$189.0M $581.0M $419.0M
YoY Change -132.53% 41.36% -1496.67%

Facts In Submission

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us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
0 USD
CY2017Q3 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1055000000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
2910000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20943000000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21570000000 USD
CY2016Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
118000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
358000000 USD
CY2017Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
123000000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
298000000 USD
CY2016Q4 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
195000000 USD
CY2017Q3 us-gaap Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
233000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
18236000000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
20277000000 USD
CY2016Q4 us-gaap Receivable With Imputed Interest Net Amount
ReceivableWithImputedInterestNetAmount
3035000000 USD
CY2017Q3 us-gaap Receivable With Imputed Interest Net Amount
ReceivableWithImputedInterestNetAmount
3366000000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
2910000000 USD
CY2016Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2017Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1735000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2910000000 USD
CY2016Q3 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
54000000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
133000000 USD
CY2017Q3 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
141000000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
350000000 USD
CY2016Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15000000 USD
CY2017Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10230000000 USD
us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
296000000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
372000000 USD
CY2016Q3 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
150000000 USD
CY2017Q3 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
4000000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
296000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-20610000000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18781000000 USD
CY2016Q3 us-gaap Revenues
Revenues
9305000000 USD
us-gaap Revenues
Revenues
27256000000 USD
CY2017Q3 us-gaap Revenues
Revenues
10019000000 USD
us-gaap Revenues
Revenues
29845000000 USD
CY2016Q4 us-gaap Sale Leaseback Transaction Amount Due Under Financing Arrangement
SaleLeasebackTransactionAmountDueUnderFinancingArrangement
2621000000 USD
CY2017Q3 us-gaap Sale Leaseback Transaction Amount Due Under Financing Arrangement
SaleLeasebackTransactionAmountDueUnderFinancingArrangement
2599000000 USD
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1948000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5987000000 USD
CY2017Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2118000000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6667000000 USD
CY2016Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
7133000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
20599000000 USD
CY2017Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
7629000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
22403000000 USD
CY2016Q3 us-gaap Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale
SecuritizationFinancialAssetForWhichTransferIsAccountedAsSaleGainLossOnSale
-59000000 USD
us-gaap Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale
SecuritizationFinancialAssetForWhichTransferIsAccountedAsSaleGainLossOnSale
-157000000 USD
CY2017Q3 us-gaap Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale
SecuritizationFinancialAssetForWhichTransferIsAccountedAsSaleGainLossOnSale
-67000000 USD
us-gaap Securitization Financial Asset For Which Transfer Is Accounted As Sale Gain Loss On Sale
SecuritizationFinancialAssetForWhichTransferIsAccountedAsSaleGainLossOnSale
-242000000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2898000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8419000000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3098000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8968000000 USD
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
59000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
171000000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
82000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
221000000 USD
CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1455466 shares
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1411487 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1000000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
4000000 USD
CY2017Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
7026000000 USD
CY2017Q3 us-gaap Unrecorded Unconditional Purchase Obligation Due In Next Rolling Twelve Months
UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths
2477000000 USD
CY2017Q3 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling After Year Five
UnrecordedUnconditionalPurchaseObligationDueInRollingAfterYearFive
904000000 USD
CY2017Q3 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling Year Five
UnrecordedUnconditionalPurchaseObligationDueInRollingYearFive
661000000 USD
CY2017Q3 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling Year Four
UnrecordedUnconditionalPurchaseObligationDueInRollingYearFour
759000000 USD
CY2017Q3 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling Year Three
UnrecordedUnconditionalPurchaseObligationDueInRollingYearThree
1015000000 USD
CY2017Q3 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling Year Two
UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo
1210000000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
832257819 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
831241027 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
871420065 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
871735511 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
822998697 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
821626675 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
831189779 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
829974146 shares
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;">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>

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