2019 Q3 Form 10-Q Financial Statement

#000082113019000067 Filed on October 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $1.031B $1.001B
YoY Change 3.0% 3.95%
Cost Of Revenue $465.0M $458.0M
YoY Change 1.53% 2.69%
Gross Profit $566.0M $543.0M
YoY Change 4.24% 5.03%
Gross Profit Margin 54.9% 54.25%
Selling, General & Admin $358.0M $346.0M
YoY Change 3.47% -1.14%
% of Gross Profit 63.25% 63.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $179.0M $161.0M
YoY Change 11.18% 5.23%
% of Gross Profit 31.63% 29.65%
Operating Expenses $1.011B $967.0M
YoY Change 4.55% -26.91%
Operating Profit $20.00M $34.00M
YoY Change -41.18% -109.44%
Interest Expense $29.00M $29.00M
YoY Change 0.0% 3.57%
% of Operating Profit 145.0% 85.29%
Other Income/Expense, Net $19.00M $17.00M
YoY Change 11.76% 88.89%
Pretax Income $39.00M $51.00M
YoY Change -23.53% -114.53%
Income Tax $15.00M $14.00M
% Of Pretax Income 38.46% 27.45%
Net Earnings $23.00M $36.00M
YoY Change -36.11% -112.04%
Net Earnings / Revenue 2.23% 3.6%
Basic Earnings Per Share $0.27 $0.42
Diluted Earnings Per Share $0.27 $0.41
COMMON SHARES
Basic Shares Outstanding 86.00M shares 86.00M shares
Diluted Shares Outstanding 88.00M shares 87.00M shares

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $570.0M $730.0M
YoY Change -21.92% 33.21%
Cash & Equivalents $570.0M $730.0M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $19.00M $20.00M
YoY Change -5.0% -79.38%
Inventory $139.0M $123.0M
Prepaid Expenses $49.00M $62.00M
Receivables $899.0M $845.0M
Other Receivables $60.00M $42.00M
Total Short-Term Assets $1.770B $1.864B
YoY Change -5.04% 23.94%
LONG-TERM ASSETS
Property, Plant & Equipment $2.144B $2.126B
YoY Change 0.85% -6.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $464.0M $455.0M
YoY Change 1.98% 6.06%
Other Assets $539.0M $546.0M
YoY Change -1.28% 52.09%
Total Long-Term Assets $6.521B $5.364B
YoY Change 21.57% 1.67%
TOTAL ASSETS
Total Short-Term Assets $1.770B $1.864B
Total Long-Term Assets $6.521B $5.364B
Total Assets $8.291B $7.228B
YoY Change 14.71% 6.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $337.0M $324.0M
YoY Change 4.01% 20.0%
Accrued Expenses $260.0M $118.0M
YoY Change 120.34% -11.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $19.00M $19.00M
YoY Change 0.0% 5.56%
Total Short-Term Liabilities $849.0M $689.0M
YoY Change 23.22% 2.38%
LONG-TERM LIABILITIES
Long-Term Debt $1.592B $1.609B
YoY Change -1.06% -1.05%
Other Long-Term Liabilities $312.0M $386.0M
YoY Change -19.17% 20.25%
Total Long-Term Liabilities $312.0M $386.0M
YoY Change -19.17% -80.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $849.0M $689.0M
Total Long-Term Liabilities $312.0M $386.0M
Total Liabilities $1.161B $1.075B
YoY Change 8.0% -68.24%
SHAREHOLDERS EQUITY
Retained Earnings $2.532B $2.430B
YoY Change 4.2%
Common Stock $88.00M $88.00M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $70.00M $84.00M
YoY Change -16.67%
Treasury Stock Shares
Shareholders Equity $4.172B $4.012B
YoY Change
Total Liabilities & Shareholders Equity $8.291B $7.228B
YoY Change 14.71% 6.61%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $23.00M $36.00M
YoY Change -36.11% -112.04%
Depreciation, Depletion And Amortization $179.0M $161.0M
YoY Change 11.18% 5.23%
Cash From Operating Activities $211.0M $235.0M
YoY Change -10.21% 35.06%
INVESTING ACTIVITIES
Capital Expenditures -$159.0M -$104.0M
YoY Change 52.88% 7.22%
Acquisitions
YoY Change
Other Investing Activities $18.00M $2.000M
YoY Change 800.0% -104.17%
Cash From Investing Activities -$141.0M -$102.0M
YoY Change 38.24% -29.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -27.00M 2.000M
YoY Change -1450.0% -166.67%
NET CHANGE
Cash From Operating Activities 211.0M 235.0M
Cash From Investing Activities -141.0M -102.0M
Cash From Financing Activities -27.00M 2.000M
Net Change In Cash 43.00M 135.0M
YoY Change -68.15% 419.23%
FREE CASH FLOW
Cash From Operating Activities $211.0M $235.0M
Capital Expenditures -$159.0M -$104.0M
Free Cash Flow $370.0M $339.0M
YoY Change 9.14% 25.09%

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CY2019Q3 us-gaap Finance Lease Liability Payments Due After Year Five
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11000000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P25Y
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.045
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0.070
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
27000000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
0 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
154000000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
139000000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
123000000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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108000000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
1000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2019Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
13000000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
371000000 USD
CY2019Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
9000000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
968000000 USD
CY2019Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
4000000 USD
CY2019Q3 usm Lessee Lease Notyet Commenced Liability Incurred
LesseeLeaseNotyetCommencedLiabilityIncurred
11000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
154000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
58000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
143000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
47000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
128000000 USD
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
23000000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
55000000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
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11000000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
60000000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
48000000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
36000000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
23000000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
12000000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
190000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
34000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
112000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
22000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
97000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
10000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
769000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
3000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1403000000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
174000000 USD
CY2019Q3 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
5000000 USD
CY2018Q4 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
4000000 USD
us-gaap Variable Interest Entity Financial Or Other Support Amount
VariableInterestEntityFinancialOrOtherSupportAmount
229000000 USD
us-gaap Variable Interest Entity Financial Or Other Support Amount
VariableInterestEntityFinancialOrOtherSupportAmount
92000000 USD

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