2019 Q1 Form 10-Q Financial Statement

#000010051719000014 Filed on April 17, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $9.589B $9.032B
YoY Change 6.17% 7.19%
Cost Of Revenue $3.788B $3.741B
YoY Change 1.26% 14.3%
Gross Profit $5.801B $5.291B
YoY Change 9.64% 2.68%
Gross Profit Margin 60.5% 58.58%
Selling, General & Admin $3.233B $3.068B
YoY Change 5.38% 3.82%
% of Gross Profit 55.73% 57.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $547.0M $524.0M
YoY Change 4.39% 1.16%
% of Gross Profit 9.43% 9.9%
Operating Expenses $5.288B $4.989B
YoY Change 5.99% 4.33%
Operating Profit $495.0M $262.0M
YoY Change 88.93% -18.13%
Interest Expense $188.0M $162.0M
YoY Change 16.05% 0.0%
% of Operating Profit 37.98% 61.83%
Other Income/Expense, Net -$128.0M -$80.00M
YoY Change 60.0% -52.94%
Pretax Income $367.0M $182.0M
YoY Change 101.65% 21.33%
Income Tax $75.00M $37.00M
% Of Pretax Income 20.44% 20.33%
Net Earnings $292.0M $145.0M
YoY Change 101.38% 46.46%
Net Earnings / Revenue 3.05% 1.61%
Basic Earnings Per Share $1.09 $0.51
Diluted Earnings Per Share $1.09 $0.51
COMMON SHARES
Basic Shares Outstanding 267.0M shares 283.9M shares
Diluted Shares Outstanding 268.3M shares 284.9M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.067B $4.475B
YoY Change -9.12% 2.19%
Cash & Equivalents $1.848B $2.404B
Short-Term Investments $2.219B $2.071B
Other Short-Term Assets $780.0M $1.128B
YoY Change -30.85% 11.02%
Inventory $972.0M $924.0M
Prepaid Expenses
Receivables $1.789B $1.760B
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.608B $8.287B
YoY Change -8.19% 7.29%
LONG-TERM ASSETS
Property, Plant & Equipment $28.59B $26.74B
YoY Change 6.91% 10.3%
Goodwill $4.523B $4.523B
YoY Change 0.0% 0.0%
Intangibles $3.144B $3.521B
YoY Change -10.71% -2.52%
Long-Term Investments $1.098B
YoY Change
Other Assets $9.380B $8.992B
YoY Change 4.31% -5.15%
Total Long-Term Assets $43.03B $35.73B
YoY Change 20.43% 5.96%
TOTAL ASSETS
Total Short-Term Assets $7.608B $8.287B
Total Long-Term Assets $43.03B $35.73B
Total Assets $50.64B $44.02B
YoY Change 15.04% 6.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.707B $2.399B
YoY Change 12.84% 12.37%
Accrued Expenses $2.299B $1.637B
YoY Change 40.44% 4.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.201B $1.655B
YoY Change -27.43% 131.15%
Total Short-Term Liabilities $15.34B $14.18B
YoY Change 8.12% 12.01%
LONG-TERM LIABILITIES
Long-Term Debt $12.73B $12.17B
YoY Change 4.67% 8.84%
Other Long-Term Liabilities $7.387B $8.314B
YoY Change -11.15% -0.07%
Total Long-Term Liabilities $20.12B $20.48B
YoY Change -1.75% 5.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.34B $14.18B
Total Long-Term Liabilities $20.12B $20.48B
Total Liabilities $35.46B $34.66B
YoY Change 2.29% 7.78%
SHAREHOLDERS EQUITY
Retained Earnings $6.999B $4.684B
YoY Change 49.42% 32.47%
Common Stock $6.083B $6.080B
YoY Change 0.05% -7.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.487B $1.314B
YoY Change 89.27% 61.03%
Treasury Stock Shares
Shareholders Equity $9.802B $8.388B
YoY Change
Total Liabilities & Shareholders Equity $50.64B $44.02B
YoY Change 15.04% 6.21%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $292.0M $145.0M
YoY Change 101.38% 46.46%
Depreciation, Depletion And Amortization $547.0M $524.0M
YoY Change 4.39% 1.16%
Cash From Operating Activities $1.915B $1.709B
YoY Change 12.05% 212.43%
INVESTING ACTIVITIES
Capital Expenditures -$1.609B -$944.0M
YoY Change 70.44% 36.61%
Acquisitions
YoY Change
Other Investing Activities $15.00M -$15.00M
YoY Change -200.0% 87.5%
Cash From Investing Activities -$1.580B -$695.0M
YoY Change 127.34% 8.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $513.0M $529.0M
YoY Change -3.02% 105.04%
Debt Paid & Issued, Net $250.0M $189.0M
YoY Change 32.28% -40.0%
Cash From Financing Activities -$183.0M -$95.00M
YoY Change 92.63% -210.47%
NET CHANGE
Cash From Operating Activities $1.915B $1.709B
Cash From Investing Activities -$1.580B -$695.0M
Cash From Financing Activities -$183.0M -$95.00M
Net Change In Cash $152.0M $919.0M
YoY Change -83.46% -9290.0%
FREE CASH FLOW
Cash From Operating Activities $1.915B $1.709B
Capital Expenditures -$1.609B -$944.0M
Free Cash Flow $3.524B $2.653B
YoY Change 32.83% 114.3%

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