2020 Form 10-K Financial Statement

#000106770121000008 Filed on January 27, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019 Q3
Revenue $8.530B $2.456B $2.488B
YoY Change -8.78% 6.5% 17.58%
Cost Of Revenue $5.347B $1.491B $1.455B
YoY Change -5.88% 13.99% 23.51%
Gross Profit $3.183B $965.0M $1.033B
YoY Change -13.27% -3.31% 10.13%
Gross Profit Margin 37.32% 39.29% 41.52%
Selling, General & Admin $979.0M $270.0M $273.0M
YoY Change -10.35% -10.6% 3.02%
% of Gross Profit 30.76% 27.98% 26.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.988B $516.0M $519.0M
YoY Change -2.45% 9.79% 24.16%
% of Gross Profit 62.46% 53.47% 50.24%
Operating Expenses $979.0M $366.0M $273.0M
YoY Change -10.35% -7.81% 3.02%
Operating Profit $1.800B $599.0M $656.0M
YoY Change -16.36% 6.39% 13.49%
Interest Expense -$669.0M -$170.0M -$147.0M
YoY Change 3.24% 19.72% 24.58%
% of Operating Profit -37.17% -28.38% -22.41%
Other Income/Expense, Net $8.000M $4.000M $1.000M
YoY Change -20.0% 0.0%
Pretax Income $1.139B $433.0M $510.0M
YoY Change -24.77% 1.88% 10.87%
Income Tax $249.0M $95.00M $119.0M
% Of Pretax Income 21.86% 21.94% 23.33%
Net Earnings $890.0M $338.0M $391.0M
YoY Change -24.19% 9.03% 17.42%
Net Earnings / Revenue 10.43% 13.76% 15.72%
Basic Earnings Per Share $12.24 $4.51 $5.10
Diluted Earnings Per Share $12.20 $4.49 $5.08
COMMON SHARES
Basic Shares Outstanding 72.66M shares 75.16M shares 76.70M shares
Diluted Shares Outstanding 72.93M shares 76.86M shares

Balance Sheet

Concept 2020 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $202.0M $52.00M $60.00M
YoY Change 288.46% 20.93% -7.69%
Cash & Equivalents $202.0M $52.00M $60.00M
Short-Term Investments
Other Short-Term Assets $375.0M $50.00M $96.00M
YoY Change 167.86% -21.88% 12.94%
Inventory $125.0M $120.0M $130.0M
Prepaid Expenses
Receivables $1.315B $1.530B $1.595B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.017B $1.842B $1.881B
YoY Change 9.5% 4.6% 11.17%
LONG-TERM ASSETS
Property, Plant & Equipment $9.997B $604.0M $11.40B
YoY Change -9.61% -1.63% 2055.2%
Goodwill $5.154B $5.143B
YoY Change 1.9% 19.24%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $38.00M $19.00M $19.00M
YoY Change 100.0% 18.75% 26.67%
Total Long-Term Assets $15.85B $17.13B $17.52B
YoY Change -7.46% 4.62% 19.52%
TOTAL ASSETS
Total Short-Term Assets $2.017B $1.842B $1.881B
Total Long-Term Assets $15.85B $17.13B $17.52B
Total Assets $17.87B $18.97B $19.41B
YoY Change -5.81% 4.62% 18.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $466.0M $454.0M $839.0M
YoY Change 2.64% -15.3% 21.95%
Accrued Expenses $605.0M $747.0M $831.0M
YoY Change -6.35% 10.34% 65.21%
Deferred Revenue $55.00M
YoY Change -1.79%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $704.0M $997.0M $973.0M
YoY Change -29.39% 10.41% 8.59%
Total Short-Term Liabilities $1.890B $2.198B $2.643B
YoY Change -14.01% 3.88% 26.64%
LONG-TERM LIABILITIES
Long-Term Debt $8.978B $10.43B $10.69B
YoY Change -13.93% -3.81% 16.43%
Other Long-Term Liabilities $687.0M $91.00M $99.00M
YoY Change 10.1% 9.64% -19.51%
Total Long-Term Liabilities $9.665B $91.00M $99.00M
YoY Change -12.57% 9.64% -19.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.890B $2.198B $2.643B
Total Long-Term Liabilities $9.665B $91.00M $99.00M
Total Liabilities $13.32B $15.14B $15.76B
YoY Change -12.0% 2.78% 21.01%
SHAREHOLDERS EQUITY
Retained Earnings $5.275B $4.937B
YoY Change 28.63% 30.23%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.700B $3.500B
YoY Change 28.92% 31.58%
Treasury Stock Shares 39.46M shares 38.03M shares
Shareholders Equity $4.545B $3.830B $3.650B
YoY Change
Total Liabilities & Shareholders Equity $17.87B $18.97B $19.41B
YoY Change -5.81% 4.62% 18.66%

Cashflow Statement

Concept 2020 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $890.0M $338.0M $391.0M
YoY Change -24.19% 9.03% 17.42%
Depreciation, Depletion And Amortization $1.988B $516.0M $519.0M
YoY Change -2.45% 9.79% 24.16%
Cash From Operating Activities $2.658B $442.0M $992.0M
YoY Change -12.1% -39.45% 109.28%
INVESTING ACTIVITIES
Capital Expenditures $197.0M -$219.0M -$905.0M
YoY Change -9.63% 12.31% 14.56%
Acquisitions $2.000M
YoY Change -99.2%
Other Investing Activities $935.0M $258.0M $162.0M
YoY Change 46.09% -113.14% -127.09%
Cash From Investing Activities -$223.0M $39.00M -$743.0M
YoY Change -86.96% -101.81% -46.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $286.0M
YoY Change -67.13%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.293B -489.0M -264.0M
YoY Change 75.71% -134.83% -130.59%
NET CHANGE
Cash From Operating Activities $2.658B 442.0M 992.0M
Cash From Investing Activities -$223.0M 39.00M -743.0M
Cash From Financing Activities -$2.293B -489.0M -264.0M
Net Change In Cash $150.0M -8.000M -15.00M
YoY Change 1566.67% -66.67% -70.59%
FREE CASH FLOW
Cash From Operating Activities $2.658B $442.0M $992.0M
Capital Expenditures $197.0M -$219.0M -$905.0M
Free Cash Flow $2.461B $661.0M $1.897B
YoY Change -12.3% -28.54% 50.08%

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Concentrations of Credit Risk Financial instruments that potentially subject us to significant concentrations of credit risk include cash and cash equivalents and accounts receivable. We maintain cash and cash equivalents with high quality financial institutions. Concentration of credit risk with respect to receivables is limited because a large number of geographically diverse customers makes up our customer base (see note 3 to our consolidated financial statements for further detail). We manage credit risk through credit approvals, credit limits and other monitoring procedures.
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CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
15.11
CY2020Q1 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-0.59
CY2020Q2 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-0.59
CY2020Q3 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-0.55
CY2020Q4 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-0.52
CY2020 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-2.22
CY2020Q1 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.03
CY2020Q2 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.02
CY2020Q3 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.06
CY2020Q4 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
0.04
CY2020 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.08
CY2020Q1 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.12
CY2020Q2 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.10
CY2020Q3 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.12
CY2020Q4 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.16
CY2020 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.51
CY2020Q1 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.02
CY2020Q2 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.04
CY2020Q3 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.06
CY2020Q4 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.06
CY2020 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.18
CY2020Q1 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
-0.26
CY2020Q2 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
0
CY2020Q3 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
-0.10
CY2020Q4 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
0
CY2020 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
-0.37
CY2020Q1 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
0
CY2020Q2 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
0
CY2020Q3 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
-1.64
CY2020Q4 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
-0.25
CY2020 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
-1.88
CY2019Q1 uri Merger Related Costs Per Diluted Share
MergerRelatedCostsPerDilutedShare
-0.01
CY2019Q2 uri Merger Related Costs Per Diluted Share
MergerRelatedCostsPerDilutedShare
0
CY2019Q3 uri Merger Related Costs Per Diluted Share
MergerRelatedCostsPerDilutedShare
0
CY2019Q4 uri Merger Related Costs Per Diluted Share
MergerRelatedCostsPerDilutedShare
0
CY2019 uri Merger Related Costs Per Diluted Share
MergerRelatedCostsPerDilutedShare
-0.01
CY2019Q1 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-0.64
CY2019Q2 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-0.64
CY2019Q3 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-0.63
CY2019Q4 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-0.60
CY2019 uri Amortization Of Acquired Intangible Assets Per Diluted Share
AmortizationOfAcquiredIntangibleAssetsPerDilutedShare
-2.48
CY2019Q1 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.14
CY2019Q2 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.12
CY2019Q3 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.07
CY2019Q4 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.05
CY2019 uri Depreciation Of Acquired Property And Equipment Per Diluted Share
DepreciationOfAcquiredPropertyAndEquipmentPerDilutedShare
-0.39
CY2019Q1 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.25
CY2019Q2 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.15
CY2019Q3 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.14
CY2019Q4 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.16
CY2019 uri Fair Value Markupof Acquired Assets Per Diluted Share
FairValueMarkupofAcquiredAssetsPerDilutedShare
-0.72
CY2019Q1 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.07
CY2019Q2 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.06
CY2019Q3 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.02
CY2019Q4 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.03
CY2019 uri Restructuring Charges Per Diluted Share
RestructuringChargesPerDilutedShare
-0.18
CY2019Q1 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
-0.01
CY2019Q2 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
-0.03
CY2019Q3 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
-0.02
CY2019Q4 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
0.01
CY2019 uri Asset Impairment Charges Per Diluted Share
AssetImpairmentChargesPerDilutedShare
-0.05
CY2019Q1 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
0
CY2019Q2 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
-0.30
CY2019Q3 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
0
CY2019Q4 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
-0.28
CY2019 uri Extinguishmentof Debt Securities Gain Loss Net Of Tax Per Diluted Share
ExtinguishmentofDebtSecuritiesGainLossNetOfTaxPerDilutedShare
-0.58
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83530000 shares
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
12.24
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
15.18
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
890000000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1174000000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1096000000 USD
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72658000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77341000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82652000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72929000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77710000 shares
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
13.26
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
12.20
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
15.11
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
13.12

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