2016 Q1 Form 10-Q Financial Statement

#000106770116000050 Filed on April 20, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $1.310B $1.315B
YoY Change -0.38% 11.63%
Cost Of Revenue $810.0M $791.0M
YoY Change 2.4% 8.36%
Gross Profit $500.0M $524.0M
YoY Change -4.58% 16.96%
Gross Profit Margin 38.17% 39.85%
Selling, General & Admin $177.0M $181.0M
YoY Change -2.21% 7.74%
% of Gross Profit 35.4% 34.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $310.0M $304.0M
YoY Change 1.97% 9.75%
% of Gross Profit 62.0% 58.02%
Operating Expenses $177.0M $181.0M
YoY Change -2.21% 7.74%
Operating Profit $254.0M $300.0M
YoY Change -15.33% 37.61%
Interest Expense -$107.0M -$121.0M
YoY Change -11.57% -3.2%
% of Operating Profit -42.13% -40.33%
Other Income/Expense, Net $0.00 $3.000M
YoY Change -100.0% 200.0%
Pretax Income $147.0M $182.0M
YoY Change -19.23% 93.62%
Income Tax $55.00M $67.00M
% Of Pretax Income 37.41% 36.81%
Net Earnings $92.00M $115.0M
YoY Change -20.0% 91.67%
Net Earnings / Revenue 7.02% 8.75%
Basic Earnings Per Share $1.01 $1.19
Diluted Earnings Per Share $1.01 $1.16
COMMON SHARES
Basic Shares Outstanding 90.51M shares 97.01M shares
Diluted Shares Outstanding 90.94M shares 99.07M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $219.0M $257.0M
YoY Change -14.79% 13.22%
Cash & Equivalents $219.0M $257.0M
Short-Term Investments
Other Short-Term Assets $56.00M $266.0M
YoY Change -78.95% -16.61%
Inventory $74.00M $81.00M
Prepaid Expenses
Receivables $833.0M $848.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.182B $1.452B
YoY Change -18.6% 3.71%
LONG-TERM ASSETS
Property, Plant & Equipment $6.467B $6.416B
YoY Change 0.79% 1472.55%
Goodwill $3.262B $3.249B
YoY Change 0.4% 10.36%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.000M $118.0M
YoY Change -92.37% 0.85%
Total Long-Term Assets $10.60B $10.83B
YoY Change -2.11% 9.98%
TOTAL ASSETS
Total Short-Term Assets $1.182B $1.452B
Total Long-Term Assets $10.60B $10.83B
Total Assets $11.78B $12.28B
YoY Change -4.05% 9.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $330.0M $465.0M
YoY Change -29.03% 2.42%
Accrued Expenses $349.0M $497.0M
YoY Change -29.78% 30.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $550.0M $593.0M
YoY Change -7.25% 123.77%
Total Short-Term Liabilities $1.229B $1.555B
YoY Change -20.96% 41.24%
LONG-TERM LIABILITIES
Long-Term Debt $7.203B $7.482B
YoY Change -3.73% 10.45%
Other Long-Term Liabilities $54.00M $60.00M
YoY Change -10.0% -10.45%
Total Long-Term Liabilities $54.00M $60.00M
YoY Change -10.0% -10.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.229B $1.555B
Total Long-Term Liabilities $54.00M $60.00M
Total Liabilities $10.28B $10.79B
YoY Change -4.67% 14.48%
SHAREHOLDERS EQUITY
Retained Earnings $1.180B $618.0M
YoY Change 90.94% 2586.96%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.714B $1.118B
YoY Change 53.31% 343.65%
Treasury Stock Shares 22.52M shares 13.89M shares
Shareholders Equity $1.501B $1.494B
YoY Change
Total Liabilities & Shareholders Equity $11.78B $12.28B
YoY Change -4.05% 9.2%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $92.00M $115.0M
YoY Change -20.0% 91.67%
Depreciation, Depletion And Amortization $310.0M $304.0M
YoY Change 1.97% 9.75%
Cash From Operating Activities $604.0M $675.0M
YoY Change -10.52% 32.87%
INVESTING ACTIVITIES
Capital Expenditures $23.00M $22.00M
YoY Change 4.55% 22.22%
Acquisitions $13.00M $0.00
YoY Change -100.0%
Other Investing Activities $106.0M $120.0M
YoY Change -11.67% 0.0%
Cash From Investing Activities -$17.00M -$225.0M
YoY Change -92.44% -2.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $164.0M $343.0M
YoY Change -52.19% 462.3%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$560.0M -$335.0M
YoY Change 67.16% 53.67%
NET CHANGE
Cash From Operating Activities $604.0M $675.0M
Cash From Investing Activities -$17.00M -$225.0M
Cash From Financing Activities -$560.0M -$335.0M
Net Change In Cash $27.00M $115.0M
YoY Change -76.52% 94.92%
FREE CASH FLOW
Cash From Operating Activities $604.0M $675.0M
Capital Expenditures $23.00M $22.00M
Free Cash Flow $581.0M $653.0M
YoY Change -11.03% 33.27%

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CY2016Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
2000000 USD
CY2015Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
24000000 USD
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
116000000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
56000000 USD
CY2015Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
35000000 USD
CY2016Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
53000000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
2736000000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
914000000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
116000000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
115000000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4000000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4000000 USD
CY2015Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
2704000000 USD
CY2016Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
1337000000 USD
CY2015Q1 us-gaap Restructuring Charges
RestructuringCharges
1000000 USD
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
2000000 USD
CY2015Q4 us-gaap Restructuring Reserve
RestructuringReserve
16000000 USD
CY2016Q1 us-gaap Restructuring Reserve
RestructuringReserve
16000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1088000000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1180000000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1315000000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1310000000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
181000000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
177000000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
14000000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
9000000 USD
CY2015 us-gaap Stock Issued During Period Shares Period Increase Decrease
StockIssuedDuringPeriodSharesPeriodIncreaseDecrease
-6000000 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
1476000000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
1501000000 USD
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
22515415 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1560000000 USD
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1714000000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99065000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
90943000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97007000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
90510000 shares

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