2019 Q4 Form 10-K Financial Statement

#000010051720000010 Filed on February 25, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4 2018 Q3
Revenue $10.89B $10.49B $11.00B
YoY Change 3.78% 11.16% 11.39%
Cost Of Revenue $4.166B $4.169B $4.430B
YoY Change -0.07% 11.03% 24.54%
Gross Profit $6.722B $6.322B $6.573B
YoY Change 6.33% 10.99% 3.64%
Gross Profit Margin 61.74% 60.26% 59.74%
Selling, General & Admin $3.495B $3.320B $3.357B
YoY Change 5.27% 9.5% 6.17%
% of Gross Profit 51.99% 52.52% 51.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $606.0M $558.0M $545.0M
YoY Change 8.6% 14.81% -1.98%
% of Gross Profit 9.02% 8.83% 8.29%
Operating Expenses $5.731B $5.386B $5.369B
YoY Change 6.41% 8.98% 4.17%
Operating Profit $861.0M $635.0M $1.187B
YoY Change 35.59% -18.17% 4.31%
Interest Expense $42.00M -$128.0M $172.0M
YoY Change -132.81% 25.49% 1.78%
% of Operating Profit 4.88% -20.16% 14.49%
Other Income/Expense, Net -$59.00M $46.00M -$129.0M
YoY Change -228.26% -355.56% -11.03%
Pretax Income $844.0M $553.0M $1.058B
YoY Change 52.62% -8.29% 6.55%
Income Tax $203.0M $97.00M $225.0M
% Of Pretax Income 24.05% 17.54% 21.27%
Net Earnings $641.0M $461.0M $833.0M
YoY Change 39.05% -20.38% 29.15%
Net Earnings / Revenue 5.89% 4.39% 7.57%
Basic Earnings Per Share $2.54 $1.70 $3.06
Diluted Earnings Per Share $2.53 $1.69 $3.05
COMMON SHARES
Basic Shares Outstanding 253.0M shares 272.5M shares 272.4M shares
Diluted Shares Outstanding 273.6M shares

Balance Sheet

Concept 2019 Q4 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.944B $3.950B $4.935B
YoY Change 25.16% 4.0% 14.02%
Cash & Equivalents $2.762B $1.694B $2.621B
Short-Term Investments $2.182B $2.256B $2.314B
Other Short-Term Assets $814.0M $733.0M $973.0M
YoY Change 11.05% -31.56% -3.57%
Inventory $1.072B $985.0M $1.011B
Prepaid Expenses
Receivables $1.364B $1.426B $1.752B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.194B $7.094B $8.671B
YoY Change 15.51% -0.55% 10.08%
LONG-TERM ASSETS
Property, Plant & Equipment $30.17B $27.40B $27.31B
YoY Change 10.11% 4.54% 6.55%
Goodwill $4.523B $4.523B $4.523B
YoY Change 0.0% 0.0% 0.0%
Intangibles $3.009B $3.159B $3.382B
YoY Change -4.75% -10.74% -4.95%
Long-Term Investments $126.0M $144.0M
YoY Change -12.5%
Other Assets $9.489B $9.269B $8.858B
YoY Change 2.37% 2.93% -2.22%
Total Long-Term Assets $44.42B $41.93B $36.17B
YoY Change 5.93% 19.08% 4.26%
TOTAL ASSETS
Total Short-Term Assets $8.194B $7.094B $8.671B
Total Long-Term Assets $44.42B $41.93B $36.17B
Total Assets $52.61B $49.02B $44.84B
YoY Change 7.32% 15.77% 5.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.703B $2.363B $2.581B
YoY Change 14.39% 7.6% 15.69%
Accrued Expenses $2.957B $2.903B $2.004B
YoY Change 1.86% 34.03% 1.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.407B $1.230B $910.0M
YoY Change 14.39% -21.41% -39.97%
Total Short-Term Liabilities $14.94B $13.84B $13.68B
YoY Change 7.94% 8.43% 4.56%
LONG-TERM LIABILITIES
Long-Term Debt $13.15B $12.22B $12.22B
YoY Change 7.61% 4.37% 7.8%
Other Long-Term Liabilities $1.024B $1.010B $8.350B
YoY Change 1.39% -87.61% 1.75%
Total Long-Term Liabilities $14.17B $13.23B $20.57B
YoY Change 7.14% -33.39% 5.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.94B $13.84B $13.68B
Total Long-Term Liabilities $14.17B $13.23B $20.57B
Total Liabilities $29.11B $27.06B $34.25B
YoY Change 7.55% -17.02% 4.98%
SHAREHOLDERS EQUITY
Retained Earnings $9.716B $6.715B $6.203B
YoY Change 44.69% 47.61% 24.28%
Common Stock $6.132B $6.123B $6.108B
YoY Change 0.15% 0.36% -7.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.599B $1.993B $1.753B
YoY Change 80.58% 159.17% -2.12%
Treasury Stock Shares
Shareholders Equity $11.53B $10.04B $9.518B
YoY Change
Total Liabilities & Shareholders Equity $52.61B $49.02B $44.84B
YoY Change 7.32% 15.77% 5.34%

Cashflow Statement

Concept 2019 Q4 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $641.0M $461.0M $833.0M
YoY Change 39.05% -20.38% 29.15%
Depreciation, Depletion And Amortization $606.0M $558.0M $545.0M
YoY Change 8.6% 14.81% -1.98%
Cash From Operating Activities $1.181B $1.129B $883.0M
YoY Change 4.61% 43.09% 53.03%
INVESTING ACTIVITIES
Capital Expenditures -$1.192B -$1.574B -$825.0M
YoY Change -24.27% 62.27% -26.34%
Acquisitions
YoY Change
Other Investing Activities -$137.0M -$374.0M -$29.00M
YoY Change -63.37% -409.09% -81.41%
Cash From Investing Activities -$1.329B -$1.948B -$854.0M
YoY Change -31.78% 129.45% -33.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -47.00M -108.0M -294.0M
YoY Change -56.48% -67.07% -266.1%
NET CHANGE
Cash From Operating Activities 1.181B 1.129B 883.0M
Cash From Investing Activities -1.329B -1.948B -854.0M
Cash From Financing Activities -47.00M -108.0M -294.0M
Net Change In Cash -195.0M -927.0M -265.0M
YoY Change -78.96% 138.92% -49.23%
FREE CASH FLOW
Cash From Operating Activities $1.181B $1.129B $883.0M
Capital Expenditures -$1.192B -$1.574B -$825.0M
Free Cash Flow $2.373B $2.703B $1.708B
YoY Change -12.21% 53.67% 0.65%

Facts In Submission

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252000000 USD
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CY2017 us-gaap Increase Decrease In Other Operating Assets
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432000000 USD
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438000000 USD
CY2018 ual Increase Decrease In Contract With Customer Liability Advance Ticket Sales
IncreaseDecreaseInContractWithCustomerLiabilityAdvanceTicketSales
441000000 USD
CY2017 ual Increase Decrease In Contract With Customer Liability Advance Ticket Sales
IncreaseDecreaseInContractWithCustomerLiabilityAdvanceTicketSales
145000000 USD
CY2019 ual Increase Decreasein Contractwith Customer Liability Frequent Flyer
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271000000 USD
CY2018 ual Increase Decreasein Contractwith Customer Liability Frequent Flyer
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222000000 USD
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52000000 USD
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<div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates—</span><span style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates.</span></div>
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CY2019 us-gaap Advertising Expense
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2310000000 USD
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CY2017 us-gaap Interest Expense
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CY2017 us-gaap Interest Costs Capitalized Adjustment
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CY2018 us-gaap Income Tax Expense Benefit
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880000000 USD
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CY2017 us-gaap Net Income Loss
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7.70
CY2017 us-gaap Earnings Per Share Basic
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7.08
CY2018 us-gaap Earnings Per Share Diluted
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3100000000 USD
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1200000 shares
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70000000 USD
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82.12
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P7Y3M18D
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P3Y8M12D
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CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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4714000000 USD
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191000000 USD
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920000000 USD
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2019Q4 us-gaap Finance Lease Liability Payments Due
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316000000 USD
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2106000000 USD
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SpecialItemsNetOfIncomeTaxBenefits
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185000000 USD

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