2019 Q1 Form 10-Q Financial Statement

#000111316919000016 Filed on April 24, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $1.327B $1.328B
YoY Change -0.05% 17.25%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $750.6M $702.1M
YoY Change 6.91% 12.82%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $41.90M $36.90M
YoY Change 13.55% 3.65%
% of Gross Profit
Operating Expenses $794.8M $744.2M
YoY Change 6.8% 21.82%
Operating Profit $532.5M $583.8M
YoY Change -8.79% 11.9%
Interest Expense $201.9M $15.20M
YoY Change 1228.29% -86.63%
% of Operating Profit 37.92% 2.6%
Other Income/Expense, Net $202.8M $16.10M
YoY Change 1159.63% -86.0%
Pretax Income $735.3M $599.9M
YoY Change 22.57% -5.78%
Income Tax $181.3M $144.4M
% Of Pretax Income 24.66% 24.07%
Net Earnings $512.6M $453.7M
YoY Change 12.98% 17.57%
Net Earnings / Revenue 38.62% 34.16%
Basic Earnings Per Share $2.11 $1.81
Diluted Earnings Per Share $2.09 $1.77
COMMON SHARES
Basic Shares Outstanding 236.6M shares 244.3M shares
Diluted Shares Outstanding 239.6M shares 249.8M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.657B $1.681B
YoY Change -1.43% 6.33%
Cash & Equivalents $1.657B $1.681B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $605.0M $594.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.262B $2.275B
YoY Change -0.57% 10.22%
LONG-TERM ASSETS
Property, Plant & Equipment $667.2M $650.2M
YoY Change 2.61% 4.0%
Goodwill $665.7M $665.7M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $4.483B $3.606B
YoY Change 24.32% 36.23%
Other Assets
YoY Change
Total Long-Term Assets $6.197B $5.099B
YoY Change 21.52% 21.08%
TOTAL ASSETS
Total Short-Term Assets $2.262B $2.275B
Total Long-Term Assets $6.197B $5.099B
Total Assets $8.459B $7.374B
YoY Change 14.71% 17.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $210.0M $241.0M
YoY Change -12.86% 29.57%
Accrued Expenses $359.0M $187.0M
YoY Change 91.98% 13.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $767.0M $588.0M
YoY Change 30.44% -3.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $495.0M $338.0M
YoY Change 46.45% 65.69%
Total Long-Term Liabilities $495.0M $338.0M
YoY Change 46.45% 65.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $767.0M $588.0M
Total Long-Term Liabilities $495.0M $338.0M
Total Liabilities $1.261B $925.9M
YoY Change 36.21% 13.43%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $701.8M $703.3M
YoY Change -0.21% 0.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.311B $5.902B
YoY Change
Total Liabilities & Shareholders Equity $8.459B $7.374B
YoY Change 14.71% 17.51%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $512.6M $453.7M
YoY Change 12.98% 17.57%
Depreciation, Depletion And Amortization $41.90M $36.90M
YoY Change 13.55% 3.65%
Cash From Operating Activities $578.7M $521.0M
YoY Change 11.07% 176.39%
INVESTING ACTIVITIES
Capital Expenditures $47.70M $36.70M
YoY Change 29.97% -21.75%
Acquisitions
YoY Change
Other Investing Activities $600.0K -$1.800M
YoY Change -133.33% -700.0%
Cash From Investing Activities -$33.80M -$519.8M
YoY Change -93.5% -1868.03%
FINANCING ACTIVITIES
Cash Dividend Paid $184.6M $174.8M
YoY Change 5.61% 24.06%
Common Stock Issuance & Retirement, Net $231.0M $291.3M
YoY Change -20.7% -4.84%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$306.0M -$242.1M
YoY Change 26.39% -265.82%
NET CHANGE
Cash From Operating Activities $578.7M $521.0M
Cash From Investing Activities -$33.80M -$519.8M
Cash From Financing Activities -$306.0M -$242.1M
Net Change In Cash $238.2M -$239.6M
YoY Change -199.42% -165.84%
FREE CASH FLOW
Cash From Operating Activities $578.7M $521.0M
Capital Expenditures $47.70M $36.70M
Free Cash Flow $531.0M $484.3M
YoY Change 9.64% 242.02%

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CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
7400000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
400000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
2500000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Tax
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-100000 USD
CY2018Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
71700000 USD
CY2019Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
73000000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
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900000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
800000 USD
CY2018Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
10600000 USD
CY2019Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
13000000 USD
CY2018Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
10600000 USD
CY2019Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
13000000 USD
CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1800000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
600000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
291300000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
231000000 USD
CY2018Q1 us-gaap Payments Of Dividends
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174800000 USD
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
184600000 USD
CY2018Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
500600000 USD
CY2019Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
15600000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
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36700000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
47700000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.2
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.2
CY2018Q4 us-gaap Preferred Stock Shares Authorized
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20000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
-12900000 USD
CY2019Q1 us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
-18200000 USD
CY2018Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
177800000 USD
CY2019Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
66000000 USD
CY2018Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
37200000 USD
CY2019Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
33500000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
455500000 USD
CY2019Q1 us-gaap Profit Loss
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554000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
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661300000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
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667200000 USD
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992800000 USD
CY2018Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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546500000 USD
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
740300000 USD
CY2019Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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886700000 USD
CY2018Q4 us-gaap Retained Earnings Unappropriated
RetainedEarningsUnappropriated
5464100000 USD
CY2019Q1 us-gaap Retained Earnings Unappropriated
RetainedEarningsUnappropriated
5650800000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1328000000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1327300000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
45600000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
43500000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
87.99
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
87.07
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
87.01
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
99.36
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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8272310 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
68.24
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
7807 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
65534 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11300393 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10254397 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
69.05
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
69.84
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
60.26
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
59.07
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
76.57
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
972655 shares
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
45100000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
45000000 USD
CY2018Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
313500000 USD
CY2019Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
229800000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
5824400000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
5901900000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
6124300000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
6311000000 USD
CY2018Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
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1680400000 USD
CY2019Q1 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
1936300000 USD
CY2018Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
38700000 USD
CY2019Q1 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
64700000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
2200000 USD
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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249800000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
239600000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
244300000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
236600000 shares

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