2016 Q1 Form 10-Q Financial Statement

#000144214516000069 Filed on May 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $492.7M $384.3M
YoY Change 28.21% -6.19%
Cost Of Revenue $173.3M $133.8M
YoY Change 29.54% -21.15%
Gross Profit $319.4M $250.5M
YoY Change 27.5% 4.39%
Gross Profit Margin 64.83% 65.19%
Selling, General & Admin $71.00M $49.71M
YoY Change 42.82% -12.99%
% of Gross Profit 22.23% 19.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $38.90M $24.44M
YoY Change 59.15% 17.65%
% of Gross Profit 12.18% 9.76%
Operating Expenses $71.00M $49.71M
YoY Change 42.82% -12.99%
Operating Profit $192.6M $174.0M
YoY Change 10.72% 16.87%
Interest Expense $32.00M $18.26M
YoY Change 75.23% 4.72%
% of Operating Profit 16.61% 10.5%
Other Income/Expense, Net -$32.00M -$18.76M
YoY Change 70.54% 7.65%
Pretax Income $160.6M $155.2M
YoY Change 3.49% 18.09%
Income Tax $50.90M $58.82M
% Of Pretax Income 31.69% 37.9%
Net Earnings $92.60M $98.69M
YoY Change -6.17% -14.6%
Net Earnings / Revenue 18.79% 25.68%
Basic Earnings Per Share $0.55 $0.62
Diluted Earnings Per Share $0.54 $0.61
COMMON SHARES
Basic Shares Outstanding 168.5M shares 158.1M shares
Diluted Shares Outstanding 171.5M shares 161.5M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $135.3M $156.7M
YoY Change -13.66% -63.67%
Cash & Equivalents $131.8M $152.8M
Short-Term Investments $3.500M $3.900M
Other Short-Term Assets $52.31M $23.35M
YoY Change 124.01% -34.18%
Inventory
Prepaid Expenses $30.83M $29.74M
Receivables $297.3M $226.6M
Other Receivables $8.600M $12.80M
Total Short-Term Assets $586.8M $454.0M
YoY Change 29.25% -33.16%
LONG-TERM ASSETS
Property, Plant & Equipment $342.0M $303.8M
YoY Change 12.56% 20.7%
Goodwill $2.704B $1.207B
YoY Change 123.99% 1.92%
Intangibles $1.191B $392.3M
YoY Change 203.69% -9.8%
Long-Term Investments
YoY Change
Other Assets $24.56M $24.48M
YoY Change 0.34% -1.81%
Total Long-Term Assets $4.872B $1.951B
YoY Change 149.8% -0.52%
TOTAL ASSETS
Total Short-Term Assets $586.8M $454.0M
Total Long-Term Assets $4.872B $1.951B
Total Assets $5.459B $2.404B
YoY Change 127.04% -8.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $179.7M $142.5M
YoY Change 26.11% -9.18%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $709.1M $205.9M
YoY Change 244.39% 4688.37%
Total Short-Term Liabilities $1.417B $709.8M
YoY Change 99.63% 37.65%
LONG-TERM LIABILITIES
Long-Term Debt $2.272B $1.100B
YoY Change 106.46% -13.42%
Other Long-Term Liabilities $53.30M $43.10M
YoY Change 23.68% -2.99%
Total Long-Term Liabilities $53.30M $43.10M
YoY Change 23.68% -2.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.417B $709.8M
Total Long-Term Liabilities $53.30M $43.10M
Total Liabilities $4.169B $2.073B
YoY Change 101.12% 1.58%
SHAREHOLDERS EQUITY
Retained Earnings $2.254B $1.753B
YoY Change 28.61% 27.98%
Common Stock $2.039B $1.191B
YoY Change 71.24% -2.74%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.686B $2.532B
YoY Change 6.1% 29.74%
Treasury Stock Shares 376.0M shares 385.8M shares
Shareholders Equity $1.290B $331.7M
YoY Change
Total Liabilities & Shareholders Equity $5.459B $2.404B
YoY Change 127.04% -8.92%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $92.60M $98.69M
YoY Change -6.17% -14.6%
Depreciation, Depletion And Amortization $38.90M $24.44M
YoY Change 59.15% 17.65%
Cash From Operating Activities $303.9M $271.0M
YoY Change 12.14% 16.39%
INVESTING ACTIVITIES
Capital Expenditures $30.80M $24.76M
YoY Change 24.39% -31.5%
Acquisitions $0.00 $405.0K
YoY Change -100.0% -89.88%
Other Investing Activities $600.0K $0.00
YoY Change
Cash From Investing Activities -$31.30M -$25.23M
YoY Change 24.08% -122.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $116.4M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$277.8M -$132.1M
YoY Change 110.36% 61.78%
NET CHANGE
Cash From Operating Activities $303.9M $271.0M
Cash From Investing Activities -$31.30M -$25.23M
Cash From Financing Activities -$277.8M -$132.1M
Net Change In Cash -$5.200M $113.7M
YoY Change -104.57% -56.45%
FREE CASH FLOW
Cash From Operating Activities $303.9M $271.0M
Capital Expenditures $30.80M $24.76M
Free Cash Flow $273.1M $246.2M
YoY Change 10.91% 25.19%

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65000 USD
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228000 USD
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5000 USD
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2000 USD
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403000 USD
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100000 USD
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179000 USD
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125000 USD
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CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2016Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1663095 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2571190000 USD
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2686007000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
20456000 USD
CY2016Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
116363000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
161481213 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171480884 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
158087919 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
168453750 shares
CY2015Q1 vrsk Amortizationof Intangible Assets Including Discontinued Operations
AmortizationofIntangibleAssetsIncludingDiscontinuedOperations
14141000 USD
CY2016Q1 vrsk Amortizationof Intangible Assets Including Discontinued Operations
AmortizationofIntangibleAssetsIncludingDiscontinuedOperations
29775000 USD
CY2015Q1 vrsk Change In Deferred Income Tax
ChangeInDeferredIncomeTax
506000 USD
CY2016Q1 vrsk Change In Deferred Income Tax
ChangeInDeferredIncomeTax
17807000 USD
CY2016Q1 vrsk Common Stock Reissued
CommonStockReissued
218177 shares
CY2016Q1 vrsk Common Stock Weighted Average Price
CommonStockWeightedAveragePrice
7.09
CY2015Q4 vrsk Current Portion Of Escrow
CurrentPortionOfEscrow
38656000 USD
CY2016Q1 vrsk Current Portion Of Escrow
CurrentPortionOfEscrow
40678000 USD
CY2015Q4 vrsk Debt And Capital Lease Obligation
DebtAndCapitalLeaseObligation
3145715000 USD
CY2016Q1 vrsk Debt And Capital Lease Obligation
DebtAndCapitalLeaseObligation
2981022000 USD
CY2015Q1 vrsk Earnings Before Interest Income Taxes Depreciation Amortization From Reportable Segment
EarningsBeforeInterestIncomeTaxesDepreciationAmortizationFromReportableSegment
216337000 USD
CY2016Q1 vrsk Earnings Before Interest Income Taxes Depreciation Amortization From Reportable Segment
EarningsBeforeInterestIncomeTaxesDepreciationAmortizationFromReportableSegment
263102000 USD
CY2015Q1 vrsk Earnings Before Interest Provisionfor Income Tax Depreciationand Amortizationfrom Discontinued Operations
EarningsBeforeInterestProvisionforIncomeTaxDepreciationandAmortizationfromDiscontinuedOperations
16044000 USD
CY2016Q1 vrsk Earnings Before Interest Provisionfor Income Tax Depreciationand Amortizationfrom Discontinued Operations
EarningsBeforeInterestProvisionforIncomeTaxDepreciationandAmortizationfromDiscontinuedOperations
14671000 USD
CY2015Q1 vrsk Investment Income And Realized Gain Loss On Securities Net
InvestmentIncomeAndRealizedGainLossOnSecuritiesNet
-502000 USD
CY2016Q1 vrsk Investment Income And Realized Gain Loss On Securities Net
InvestmentIncomeAndRealizedGainLossOnSecuritiesNet
44000 USD
CY2015Q1 vrsk Ksop Compensation Expense
KsopCompensationExpense
3821000 USD
CY2016Q1 vrsk Ksop Compensation Expense
KsopCompensationExpense
4286000 USD
CY2015 vrsk Ksop Shares Earned
KsopSharesEarned
14076000 USD
CY2016Q1 vrsk Ksop Shares Earned
KsopSharesEarned
4286000 USD
CY2016Q1 vrsk Nonqualified Stock Option Contractual Term
NonqualifiedStockOptionContractualTerm
P10Y
CY2016Q1 vrsk Numberof Company Directors
NumberofCompanyDirectors
12 director
CY2015 vrsk Numberof Stock Issued During Period Shares Stock Options Exercised Net Of Taxes
NumberofStockIssuedDuringPeriodSharesStockOptionsExercisedNetOfTaxes
32882 shares
CY2016Q1 vrsk Numberof Stock Issued During Period Shares Stock Options Exercised Net Of Taxes
NumberofStockIssuedDuringPeriodSharesStockOptionsExercisedNetOfTaxes
0 shares
CY2016Q1 vrsk Numberofinsurancecompanies
Numberofinsurancecompanies
100 insurer
CY2015 vrsk Numberofputativeclasses
Numberofputativeclasses
2 claim
CY2015Q4 vrsk Percentage Of Ownership On Outstanding Common Stock Required To Become Related Party
PercentageOfOwnershipOnOutstandingCommonStockRequiredToBecomeRelatedParty
0.05
CY2016Q1 vrsk Percentage Of Ownership On Outstanding Common Stock Required To Become Related Party
PercentageOfOwnershipOnOutstandingCommonStockRequiredToBecomeRelatedParty
0.05
CY2015 vrsk Restricted Stock Lapses
RestrictedStockLapses
1238000 USD
CY2016Q1 vrsk Restricted Stock Lapses
RestrictedStockLapses
-11000 USD
CY2015Q1 vrsk Segment Reporting Information Maximum Percentage Of Company Consolidated Revenue
SegmentReportingInformationMaximumPercentageOfCompanyConsolidatedRevenue
0.1
CY2016Q1 vrsk Segment Reporting Information Maximum Percentage Of Company Consolidated Revenue
SegmentReportingInformationMaximumPercentageOfCompanyConsolidatedRevenue
0.1
CY2016Q1 vrsk Share Based Compensation Arrangement By Share Based Payment Award Option Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionVestedAndExpectedToVestOutstandingNumber
2558531 shares
CY2015Q1 vrsk Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Weighted Average Aggregate Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageAggregateFairValue
3005000 USD
CY2016Q1 vrsk Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Weighted Average Aggregate Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageAggregateFairValue
3256000 USD
CY2016Q1 vrsk Treasury Stock Cumulative Value Acquired Cost Method
TreasuryStockCumulativeValueAcquiredCostMethod
1947011000 USD
CY2016Q1 vrsk Unrecognized Compensation Cost Related To Nonvested Share Based Compensation Arrangements
UnrecognizedCompensationCostRelatedToNonvestedShareBasedCompensationArrangements
46487000 USD
CY2015Q1 vrsk Value Of Common Stock Issued To Employees Per Share
ValueOfCommonStockIssuedToEmployeesPerShare
67.83
CY2016Q1 vrsk Value Of Common Stock Issued To Employees Per Share
ValueOfCommonStockIssuedToEmployeesPerShare
75.92

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