2018 Q4 Form 10-Q Financial Statement

#000010051718000028 Filed on October 17, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $10.49B $11.00B $9.878B
YoY Change 11.16% 11.39% -0.35%
Cost Of Revenue $4.169B $4.430B $3.557B
YoY Change 11.03% 24.54% 6.5%
Gross Profit $6.322B $6.573B $6.342B
YoY Change 10.99% 3.64% -3.51%
Gross Profit Margin 60.26% 59.74% 64.2%
Selling, General & Admin $3.320B $3.357B $3.162B
YoY Change 9.5% 6.17% 6.46%
% of Gross Profit 52.52% 51.07% 49.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $558.0M $545.0M $556.0M
YoY Change 14.81% -1.98% 10.54%
% of Gross Profit 8.83% 8.29% 8.77%
Operating Expenses $5.386B $5.369B $5.154B
YoY Change 8.98% 4.17% 5.1%
Operating Profit $635.0M $1.187B $1.138B
YoY Change -18.17% 4.31% -29.93%
Interest Expense -$128.0M $172.0M $169.0M
YoY Change 25.49% 1.78% 12.67%
% of Operating Profit -20.16% 14.49% 14.85%
Other Income/Expense, Net $46.00M -$129.0M -$145.0M
YoY Change -355.56% -11.03% 27.19%
Pretax Income $553.0M $1.058B $993.0M
YoY Change -8.29% 6.55% -34.24%
Income Tax $97.00M $225.0M $348.0M
% Of Pretax Income 17.54% 21.27% 35.05%
Net Earnings $461.0M $833.0M $645.0M
YoY Change -20.38% 29.15% -33.16%
Net Earnings / Revenue 4.39% 7.57% 6.53%
Basic Earnings Per Share $1.70 $3.06 $2.15
Diluted Earnings Per Share $1.69 $3.05 $2.15
COMMON SHARES
Basic Shares Outstanding 272.5M shares 272.4M shares 299.8M shares
Diluted Shares Outstanding 273.6M shares 300.6M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.950B $4.935B $4.328B
YoY Change 4.0% 14.02% -10.87%
Cash & Equivalents $1.694B $2.621B $1.870B
Short-Term Investments $2.256B $2.314B $2.458B
Other Short-Term Assets $733.0M $973.0M $1.009B
YoY Change -31.56% -3.57% 27.56%
Inventory $985.0M $1.011B $937.0M
Prepaid Expenses
Receivables $1.426B $1.752B $1.603B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.094B $8.671B $7.877B
YoY Change -0.55% 10.08% -1.17%
LONG-TERM ASSETS
Property, Plant & Equipment $27.40B $27.31B $25.63B
YoY Change 4.54% 6.55% 13.18%
Goodwill $4.523B $4.523B $4.523B
YoY Change 0.0% 0.0% 0.0%
Intangibles $3.159B $3.382B $3.558B
YoY Change -10.74% -4.95% -2.63%
Long-Term Investments $144.0M
YoY Change
Other Assets $9.269B $8.858B $9.059B
YoY Change 2.93% -2.22% -6.72%
Total Long-Term Assets $41.93B $36.17B $34.69B
YoY Change 19.08% 4.26% 7.2%
TOTAL ASSETS
Total Short-Term Assets $7.094B $8.671B $7.877B
Total Long-Term Assets $41.93B $36.17B $34.69B
Total Assets $49.02B $44.84B $42.57B
YoY Change 15.77% 5.34% 5.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.363B $2.581B $2.231B
YoY Change 7.6% 15.69% 4.35%
Accrued Expenses $2.903B $2.004B $1.983B
YoY Change 34.03% 1.06% -13.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.230B $910.0M $1.516B
YoY Change -21.41% -39.97% 56.45%
Total Short-Term Liabilities $13.84B $13.68B $13.09B
YoY Change 8.43% 4.56% -1.25%
LONG-TERM LIABILITIES
Long-Term Debt $12.22B $12.22B $11.33B
YoY Change 4.37% 7.8% 17.92%
Other Long-Term Liabilities $1.010B $8.350B $8.206B
YoY Change -87.61% 1.75% -0.79%
Total Long-Term Liabilities $13.23B $20.57B $19.54B
YoY Change -33.39% 5.26% 9.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.84B $13.68B $13.09B
Total Long-Term Liabilities $13.23B $20.57B $19.54B
Total Liabilities $27.06B $34.25B $32.63B
YoY Change -17.02% 4.98% 4.79%
SHAREHOLDERS EQUITY
Retained Earnings $6.715B $6.203B $4.991B
YoY Change 47.61% 24.28% -6.24%
Common Stock $6.123B $6.108B $6.594B
YoY Change 0.36% -7.37% -17.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.993B $1.753B $1.791B
YoY Change 159.17% -2.12% -55.93%
Treasury Stock Shares
Shareholders Equity $10.04B $9.518B $8.970B
YoY Change
Total Liabilities & Shareholders Equity $49.02B $44.84B $42.57B
YoY Change 15.77% 5.34% 5.55%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $461.0M $833.0M $645.0M
YoY Change -20.38% 29.15% -33.16%
Depreciation, Depletion And Amortization $558.0M $545.0M $556.0M
YoY Change 14.81% -1.98% 10.54%
Cash From Operating Activities $1.129B $883.0M $577.0M
YoY Change 43.09% 53.03% -49.3%
INVESTING ACTIVITIES
Capital Expenditures -$1.574B -$825.0M -$1.120B
YoY Change 62.27% -26.34% 62.55%
Acquisitions
YoY Change
Other Investing Activities -$374.0M -$29.00M -$156.0M
YoY Change -409.09% -81.41% -340.0%
Cash From Investing Activities -$1.948B -$854.0M -$1.276B
YoY Change 129.45% -33.07% 104.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -108.0M -294.0M 177.0M
YoY Change -67.07% -266.1% -153.96%
NET CHANGE
Cash From Operating Activities 1.129B 883.0M 577.0M
Cash From Investing Activities -1.948B -854.0M -1.276B
Cash From Financing Activities -108.0M -294.0M 177.0M
Net Change In Cash -927.0M -265.0M -522.0M
YoY Change 138.92% -49.23% -380.65%
FREE CASH FLOW
Cash From Operating Activities $1.129B $883.0M $577.0M
Capital Expenditures -$1.574B -$825.0M -$1.120B
Free Cash Flow $2.703B $1.708B $1.697B
YoY Change 53.67% 0.65% -7.12%

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