2015 Q4 Form 10-Q Financial Statement

#000111316915000027 Filed on October 22, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $1.052B $1.049B $1.021B
YoY Change 2.91% 2.76% 15.42%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $461.8M $471.0M $432.4M
YoY Change 5.51% 8.93% 17.05%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.90M $33.10M $28.30M
YoY Change 12.72% 16.96% 27.48%
% of Gross Profit
Operating Expenses $597.2M $590.7M $532.1M
YoY Change 10.1% 11.01% 16.05%
Operating Profit $458.3M $488.7M
YoY Change -6.22% 14.75%
Interest Expense $43.40M $300.0K $5.200M
YoY Change -94.23% -55.17%
% of Operating Profit 0.07% 1.06%
Other Income/Expense, Net $300.0K
YoY Change
Pretax Income $498.4M $458.6M $493.9M
YoY Change -3.93% -7.15% 12.89%
Income Tax $195.2M $181.5M $190.3M
% Of Pretax Income 39.17% 39.58% 38.53%
Net Earnings $303.2M $277.1M $303.6M
YoY Change -4.02% -8.73% 12.32%
Net Earnings / Revenue 28.82% 26.42% 29.74%
Basic Earnings Per Share $1.20 $1.08 $1.15
Diluted Earnings Per Share $1.17 $1.06 $1.12
COMMON SHARES
Basic Shares Outstanding 251.1M shares 252.7M shares 259.7M shares
Diluted Shares Outstanding 258.6M shares 267.4M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.172B $1.164B $1.645B
YoY Change -22.18% -29.24% -2.84%
Cash & Equivalents $1.172B $1.164B $1.645B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $446.0M $431.0M $424.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.618B $1.595B $2.069B
YoY Change -16.98% -22.91% 0.49%
LONG-TERM ASSETS
Property, Plant & Equipment $607.1M $603.0M $572.3M
YoY Change 3.53% 5.36% 0.85%
Goodwill $665.7M
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.019B $2.201B $2.355B
YoY Change -11.91% -6.54% 34.8%
Other Assets
YoY Change
Total Long-Term Assets $3.489B $3.672B $3.699B
YoY Change -5.59% -0.74% 20.58%
TOTAL ASSETS
Total Short-Term Assets $1.618B $1.595B $2.069B
Total Long-Term Assets $3.489B $3.672B $3.699B
Total Assets $5.107B $5.267B $5.768B
YoY Change -9.52% -8.69% 12.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $171.0M $173.0M $151.0M
YoY Change 19.58% 14.57% 55.67%
Accrued Expenses $153.0M $406.0M $367.0M
YoY Change 86.59% 10.63% 17.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $345.0M $594.0M $541.0M
YoY Change 38.55% 9.8% 19.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $345.0M $594.0M $541.0M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $344.9M $593.0M $540.5M
YoY Change 38.4% 9.71% -7.8%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $704.7M $703.5M $812.4M
YoY Change -12.86% -13.4% -7.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.762B $4.674B $5.228B
YoY Change
Total Liabilities & Shareholders Equity $5.107B $5.267B $5.768B
YoY Change -9.52% -8.69% 12.51%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $303.2M $277.1M $303.6M
YoY Change -4.02% -8.73% 12.32%
Depreciation, Depletion And Amortization $31.90M $33.10M $28.30M
YoY Change 12.72% 16.96% 27.48%
Cash From Operating Activities $136.9M $506.9M $490.5M
YoY Change 82.05% 3.34% 13.96%
INVESTING ACTIVITIES
Capital Expenditures -$36.70M -$34.70M -$22.90M
YoY Change -15.83% 51.53% -30.82%
Acquisitions
YoY Change
Other Investing Activities $194.3M $20.00M -$205.0M
YoY Change 1122.01% -109.76% 324.43%
Cash From Investing Activities $157.6M -$14.70M -$227.9M
YoY Change -668.95% -93.55% 179.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -286.6M -597.0M -322.4M
YoY Change 54.17% 85.17% 188.89%
NET CHANGE
Cash From Operating Activities 136.9M 506.9M 490.5M
Cash From Investing Activities 157.6M -14.70M -227.9M
Cash From Financing Activities -286.6M -597.0M -322.4M
Net Change In Cash 7.900M -104.8M -59.80M
YoY Change -105.71% 75.25% -125.19%
FREE CASH FLOW
Cash From Operating Activities $136.9M $506.9M $490.5M
Capital Expenditures -$36.70M -$34.70M -$22.90M
Free Cash Flow $173.6M $541.6M $513.4M
YoY Change 46.13% 5.49% 10.77%

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0 USD
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3000000 USD
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0.2
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0.2
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20000000 shares
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0 USD
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CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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77.24
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49.93
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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370846 shares
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55.63
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
59.00
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Description And Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms
As a result of the special cash dividend declared by the Board of Directors in February 2015, the anti-dilution provisions of our employee long-term incentive plans and non-employee director plans (collectively the LTI Plans) require an automatic adjustment to neutralize the effect of the special dividend. On the special dividend's ex-dividend date (April 7, 2015), the number of shares authorized and the number of stock options outstanding and their exercise price were adjusted resulting in an increase of 749,578 stock options outstanding on the ex-dividend date, and no incremental compensation expense.
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
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0 USD
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
42.95
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
63.33
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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68.26
us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Stock Issued During Period Value Other
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0 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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0 USD
us-gaap Stock Repurchased During Period Value
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851700000 USD
CY2014Q4 us-gaap Stockholders Equity
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267400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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268200000 shares
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258600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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262900000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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259700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
260200000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
252700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
256300000 shares

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