2018 Q3 Form 10-Q Financial Statement

#000093652818000055 Filed on July 27, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $157.2M $155.1M $137.7M
YoY Change 10.48% 12.6% 2.98%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.700M $12.20M $10.80M
YoY Change -36.36% 12.96% -25.52%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $37.90M $35.22M $29.10M
YoY Change 27.15% 21.03% -1.34%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $67.34M $64.49M $65.35M
YoY Change 0.56% -1.31% 0.3%
Income Tax $15.83M $13.10M $21.24M
% Of Pretax Income 23.5% 20.31% 32.5%
Net Earnings $51.52M $51.39M $44.11M
YoY Change 11.74% 16.51% 2.58%
Net Earnings / Revenue 32.78% 33.14% 32.03%
Basic Earnings Per Share $0.62 $0.61 $0.49
Diluted Earnings Per Share $0.62 $0.61 $0.49
COMMON SHARES
Basic Shares Outstanding 83.54M shares 84.17M shares 89.20M shares
Diluted Shares Outstanding 84.25M shares 89.50M shares

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $268.7M $345.9M $359.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $268.0M $269.7M $269.5M
YoY Change 1.63% 0.06% -8.75%
Goodwill $301.4M $301.4M $291.5M
YoY Change 2.8% 3.38% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $15.87B $15.77B $15.08B
YoY Change 4.01% 4.52% 1.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $94.00M $90.00M $120.0M
YoY Change -28.24% -25.0% -28.14%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $94.00M $90.00M $120.0M
YoY Change -28.24% -25.0% -28.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $57.00M $33.00M $34.00M
YoY Change 0.0% -2.94% 3.03%
Total Long-Term Liabilities $57.00M $33.00M $34.00M
YoY Change 0.0% -2.94% 3.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.00M $90.00M $120.0M
Total Long-Term Liabilities $57.00M $33.00M $34.00M
Total Liabilities $13.87B $13.78B $13.06B
YoY Change 4.69% 5.49% 1.58%
SHAREHOLDERS EQUITY
Retained Earnings $1.189B $1.152B $1.010B
YoY Change 14.01% 14.1% 10.72%
Common Stock $1.802B $1.801B $1.795B
YoY Change 0.34% 0.33% 0.41%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.002B $975.0M $786.2M
YoY Change 19.6% 24.02% 8.9%
Treasury Stock Shares 52.63M shares 51.81M shares 46.20M shares
Shareholders Equity $1.997B $1.986B $2.021B
YoY Change
Total Liabilities & Shareholders Equity $15.87B $15.77B $15.08B
YoY Change 4.01% 4.52% 1.77%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $51.52M $51.39M $44.11M
YoY Change 11.74% 16.51% 2.58%
Depreciation, Depletion And Amortization $7.700M $12.20M $10.80M
YoY Change -36.36% 12.96% -25.52%
Cash From Operating Activities $50.40M $20.10M $38.40M
YoY Change -12.04% -47.66% 12.94%
INVESTING ACTIVITIES
Capital Expenditures -$4.500M -$9.800M -$4.600M
YoY Change -25.0% 113.04% 318.18%
Acquisitions
YoY Change
Other Investing Activities -$165.5M -$52.10M -$22.10M
YoY Change -19.82% 135.75% -119.45%
Cash From Investing Activities -$170.0M -$61.90M -$26.70M
YoY Change -19.92% 131.84% -123.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.30M 130.9M 81.20M
YoY Change -61.12% 61.21% -24.47%
NET CHANGE
Cash From Operating Activities 50.40M 20.10M 38.40M
Cash From Investing Activities -170.0M -61.90M -26.70M
Cash From Financing Activities 42.30M 130.9M 81.20M
Net Change In Cash -77.30M 89.10M 92.90M
YoY Change 67.32% -4.09% -63.43%
FREE CASH FLOW
Cash From Operating Activities $50.40M $20.10M $38.40M
Capital Expenditures -$4.500M -$9.800M -$4.600M
Free Cash Flow $54.90M $29.90M $43.00M
YoY Change -13.27% -30.47% 22.51%

Facts In Submission

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us-gaap Information Technology And Data Processing
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CY2018Q2 us-gaap Information Technology And Data Processing
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975001000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
46470000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
136941000 USD
CY2017Q3 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-45758000 USD
CY2018Q2 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-52523000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89497264 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89653955 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84252659 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85698888 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89199823 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89297471 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84168992 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85589588 shares
wfsl Adjustmentsto Additional Paidin Capital Warrants Exercised
AdjustmentstoAdditionalPaidinCapitalWarrantsExercised
0 USD
wfsl Adjustmentsto Additional Paidin Capital Warrants Exercised
AdjustmentstoAdditionalPaidinCapitalWarrantsExercised
0 USD
CY2017Q3 wfsl Available For Sale Securities Yield
AvailableForSaleSecuritiesYield
0.0286
CY2018Q2 wfsl Available For Sale Securities Yield
AvailableForSaleSecuritiesYield
0.0328
CY2017Q2 wfsl Financing Receivable Allowance For Credit Losses Charge Offs Net Of Recoveries
FinancingReceivableAllowanceForCreditLossesChargeOffsNetOfRecoveries
-1252000 USD
wfsl Financing Receivable Allowance For Credit Losses Charge Offs Net Of Recoveries
FinancingReceivableAllowanceForCreditLossesChargeOffsNetOfRecoveries
-11764000 USD
CY2018Q2 wfsl Financing Receivable Allowance For Credit Losses Charge Offs Net Of Recoveries
FinancingReceivableAllowanceForCreditLossesChargeOffsNetOfRecoveries
-90000 USD
wfsl Financing Receivable Allowance For Credit Losses Charge Offs Net Of Recoveries
FinancingReceivableAllowanceForCreditLossesChargeOffsNetOfRecoveries
-4543000 USD
CY2017Q2 wfsl Financing Receivable Allowance For Credit Losses Provision And Transfers
FinancingReceivableAllowanceForCreditLossesProvisionAndTransfers
-945000 USD
wfsl Financing Receivable Allowance For Credit Losses Provision And Transfers
FinancingReceivableAllowanceForCreditLossesProvisionAndTransfers
-3029000 USD
CY2018Q2 wfsl Financing Receivable Allowance For Credit Losses Provision And Transfers
FinancingReceivableAllowanceForCreditLossesProvisionAndTransfers
1000000 USD
wfsl Financing Receivable Allowance For Credit Losses Provision And Transfers
FinancingReceivableAllowanceForCreditLossesProvisionAndTransfers
1050000 USD
CY2017Q2 wfsl Financing Receivable Modifications Number Of Contracts That Subsequently Defaulted
FinancingReceivableModificationsNumberOfContractsThatSubsequentlyDefaulted
3 contract
wfsl Financing Receivable Modifications Number Of Contracts That Subsequently Defaulted
FinancingReceivableModificationsNumberOfContractsThatSubsequentlyDefaulted
18 contract
CY2018Q2 wfsl Financing Receivable Modifications Number Of Contracts That Subsequently Defaulted
FinancingReceivableModificationsNumberOfContractsThatSubsequentlyDefaulted
0 contract
wfsl Financing Receivable Modifications Number Of Contracts That Subsequently Defaulted
FinancingReceivableModificationsNumberOfContractsThatSubsequentlyDefaulted
2 contract
CY2017Q2 wfsl Financing Receivable Modifications Recorded Investment During Period
FinancingReceivableModificationsRecordedInvestmentDuringPeriod
401000 USD
wfsl Financing Receivable Modifications Recorded Investment During Period
FinancingReceivableModificationsRecordedInvestmentDuringPeriod
3853000 USD
CY2018Q2 wfsl Financing Receivable Modifications Recorded Investment During Period
FinancingReceivableModificationsRecordedInvestmentDuringPeriod
0 USD
wfsl Financing Receivable Modifications Recorded Investment During Period
FinancingReceivableModificationsRecordedInvestmentDuringPeriod
206000 USD
CY2017Q3 wfsl Financing Receivable Ratioof Total Past Due Loansto Total Loans Receivable Netof Charge Offsand Loansin Process Current
FinancingReceivableRatioofTotalPastDueLoanstoTotalLoansReceivableNetofChargeOffsandLoansinProcessCurrent
0.9960
CY2018Q2 wfsl Financing Receivable Ratioof Total Past Due Loansto Total Loans Receivable Netof Charge Offsand Loansin Process Current
FinancingReceivableRatioofTotalPastDueLoanstoTotalLoansReceivableNetofChargeOffsandLoansinProcessCurrent
0.9960
CY2017Q3 wfsl Financing Receivable Ratioof Total Past Due Loansto Total Loans Receivable Netof Charge Offsand Loansin Process Past Due
FinancingReceivableRatioofTotalPastDueLoanstoTotalLoansReceivableNetofChargeOffsandLoansinProcessPastDue
0.0040
CY2018Q2 wfsl Financing Receivable Ratioof Total Past Due Loansto Total Loans Receivable Netof Charge Offsand Loansin Process Past Due
FinancingReceivableRatioofTotalPastDueLoanstoTotalLoansReceivableNetofChargeOffsandLoansinProcessPastDue
0.0040
wfsl Financing Receivables Percentof Troubled Debt Restructuring Classifiedas Performing
FinancingReceivablesPercentofTroubledDebtRestructuringClassifiedasPerforming
0.967
wfsl Gain Losson Settlementof Bank Owned Life Insurance
GainLossonSettlementofBankOwnedLifeInsurance
4983000 USD
wfsl Gain Losson Settlementof Bank Owned Life Insurance
GainLossonSettlementofBankOwnedLifeInsurance
2416000 USD
CY2017Q3 wfsl Goodwill And Intangible Assets Net
GoodwillAndIntangibleAssetsNet
298682000 USD
CY2018Q2 wfsl Goodwill And Intangible Assets Net
GoodwillAndIntangibleAssetsNet
311796000 USD
CY2017Q3 wfsl Gross Unrealized Gains On Investments
GrossUnrealizedGainsOnInvestments
20972000 USD
CY2018Q2 wfsl Gross Unrealized Gains On Investments
GrossUnrealizedGainsOnInvestments
5059000 USD
CY2017Q3 wfsl Gross Unrealized Losses On Investments
GrossUnrealizedLossesOnInvestments
22293000 USD
CY2018Q2 wfsl Gross Unrealized Losses On Investments
GrossUnrealizedLossesOnInvestments
74134000 USD
CY2017Q3 wfsl Held To Maturity Securities Yield
HeldToMaturitySecuritiesYield
0.0314
CY2018Q2 wfsl Held To Maturity Securities Yield
HeldToMaturitySecuritiesYield
0.0316
wfsl Increase Decrease In Fdic Indemnification Asset
IncreaseDecreaseInFdicIndemnificationAsset
813000 USD
wfsl Increase Decrease In Fdic Indemnification Asset
IncreaseDecreaseInFdicIndemnificationAsset
1595000 USD
CY2017Q2 wfsl Investment Income And Other
InvestmentIncomeAndOther
4267000 USD
wfsl Investment Income And Other
InvestmentIncomeAndOther
13345000 USD
CY2018Q2 wfsl Investment Income And Other
InvestmentIncomeAndOther
5509000 USD
wfsl Investment Income And Other
InvestmentIncomeAndOther
14762000 USD
wfsl Loan Modification Basis Point Reduction Maximum
LoanModificationBasisPointReductionMaximum
0.0200
wfsl Loan Modification Basis Point Reduction Minimum
LoanModificationBasisPointReductionMinimum
0.0100
CY2017Q3 wfsl Loans And Leases Receivable Charges To Allowance Loans In Process And Deferred Fees
LoansAndLeasesReceivableChargesToAllowanceLoansInProcessAndDeferredFees
1318765000 USD
CY2018Q2 wfsl Loans And Leases Receivable Charges To Allowance Loans In Process And Deferred Fees
LoansAndLeasesReceivableChargesToAllowanceLoansInProcessAndDeferredFees
1411321000 USD
CY2017Q3 wfsl Loans And Leases Receivable Ratio Of Loan Type To All Loans
LoansAndLeasesReceivableRatioOfLoanTypeToAllLoans
1
CY2018Q2 wfsl Loans And Leases Receivable Ratio Of Loan Type To All Loans
LoansAndLeasesReceivableRatioOfLoanTypeToAllLoans
1
CY2017Q3 wfsl Loans And Leases Receivable Ratio Of Total Past Due Loans To Total Loans Receivable Net Of Charge Offs And Loans In Process
LoansAndLeasesReceivableRatioOfTotalPastDueLoansToTotalLoansReceivableNetOfChargeOffsAndLoansInProcess
0.0040
CY2018Q2 wfsl Loans And Leases Receivable Ratio Of Total Past Due Loans To Total Loans Receivable Net Of Charge Offs And Loans In Process
LoansAndLeasesReceivableRatioOfTotalPastDueLoansToTotalLoansReceivableNetOfChargeOffsAndLoansInProcess
0.0040
wfsl Loans Originated Net Of Principal Collections
LoansOriginatedNetOfPrincipalCollections
-668413000 USD
wfsl Loans Originated Net Of Principal Collections
LoansOriginatedNetOfPrincipalCollections
-308167000 USD
CY2017Q3 wfsl Loans Receivable Netof Charge Offsand Loansin Process
LoansReceivableNetofChargeOffsandLoansinProcess
11051453000 USD
CY2018Q2 wfsl Loans Receivable Netof Charge Offsand Loansin Process
LoansReceivableNetofChargeOffsandLoansinProcess
11507160000 USD
CY2018Q2 wfsl Loansand Leases Receivable Allowancefor Credit Lossesand Reservefor Unfunded Commitments
LoansandLeasesReceivableAllowanceforCreditLossesandReserveforUnfundedCommitments
135416000 USD
CY2018Q2 wfsl Loansand Leases Receivable Allowancefor Credit Lossesand Reservefor Unfunded Commitments Percentof Gross Loans
LoansandLeasesReceivableAllowanceforCreditLossesandReserveforUnfundedCommitmentsPercentofGrossLoans
0.0106
wfsl Loansand Leases Receivable Impaired Nonperforming Nonaccrual Interest Income Recognized
LoansandLeasesReceivableImpairedNonperformingNonaccrualInterestIncomeRecognized
3926000 USD
CY2017Q3 wfsl Loansand Leases Receivable Nonperforming Nonaccrualof Interest Percentof Total Loans
LoansandLeasesReceivableNonperformingNonaccrualofInterestPercentofTotalLoans
0.0046
CY2018Q2 wfsl Loansand Leases Receivable Nonperforming Nonaccrualof Interest Percentof Total Loans
LoansandLeasesReceivableNonperformingNonaccrualofInterestPercentofTotalLoans
0.0053
wfsl Non Covered Real Estate Acquired Through Foreclosure
NonCoveredRealEstateAcquiredThroughForeclosure
2323000 USD
wfsl Non Covered Real Estate Acquired Through Foreclosure
NonCoveredRealEstateAcquiredThroughForeclosure
1517000 USD
wfsl Other Comprehensive Income Loss Including Cumulative Effect Adjustment Netof Tax
OtherComprehensiveIncomeLossIncludingCumulativeEffectAdjustmentNetofTax
3122000 USD
CY2018Q2 wfsl Payments To Settle Fdic Clawback Liability
PaymentsToSettleFDICClawbackLiability
39900000 USD
wfsl Premises And Equipment Purchased And Reo Improvements
PremisesAndEquipmentPurchasedAndReoImprovements
9541000 USD
wfsl Premises And Equipment Purchased And Reo Improvements
PremisesAndEquipmentPurchasedAndReoImprovements
22604000 USD
CY2017Q2 wfsl Product Delivery Expense
ProductDeliveryExpense
3246000 USD
wfsl Product Delivery Expense
ProductDeliveryExpense
10096000 USD
CY2018Q2 wfsl Product Delivery Expense
ProductDeliveryExpense
4356000 USD
wfsl Product Delivery Expense
ProductDeliveryExpense
11977000 USD
CY2017Q3 wfsl Savings And Demand Accounts And Repurchase Agreements With Customers
SavingsAndDemandAccountsAndRepurchaseAgreementsWithCustomers
10835008000 USD
CY2018Q2 wfsl Savings And Demand Accounts And Repurchase Agreements With Customers
SavingsAndDemandAccountsAndRepurchaseAgreementsWithCustomers
11287473000 USD
CY2018Q2 wfsl Single Family Residential Loans As Percentage Of Restructured Loans
SingleFamilyResidentialLoansAsPercentageOfRestructuredLoans
0.894
wfsl Term Of Contractual Due Dates Of Substantially All Mortgage Backed Securities
TermOfContractualDueDatesOfSubstantiallyAllMortgageBackedSecurities
P10Y
CY2017Q3 wfsl Transaction Deposits
TransactionDeposits
6361158000 USD
CY2018Q2 wfsl Transaction Deposits
TransactionDeposits
6572766000 USD
CY2017Q3 wfsl Yield
Yield
0.0302
CY2018Q2 wfsl Yield
Yield
0.0321

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