2013 Q3 Form 10-Q Financial Statement

#000143710713000042 Filed on October 31, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $1.375B $1.076B
YoY Change 27.79% -0.37%
Cost Of Revenue $435.0M $296.0M
YoY Change 46.96% -9.76%
Gross Profit $940.0M $780.0M
YoY Change 20.51% 3.72%
Gross Profit Margin 68.36% 72.49%
Selling, General & Admin $390.0M $314.0M
YoY Change 24.2% 7.17%
% of Gross Profit 41.49% 40.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $388.0M $243.0M
YoY Change 59.67% -10.66%
% of Gross Profit 41.28% 31.15%
Operating Expenses $390.0M $314.0M
YoY Change 24.2% 7.17%
Operating Profit $488.0M $438.0M
YoY Change 11.42% 2.34%
Interest Expense -$80.00M -$90.00M
YoY Change -11.11% 50.0%
% of Operating Profit -16.39% -20.55%
Other Income/Expense, Net $11.00M $1.000M
YoY Change 1000.0% -120.0%
Pretax Income $419.0M $349.0M
YoY Change 20.06% -4.9%
Income Tax $163.0M $134.0M
% Of Pretax Income 38.9% 38.4%
Net Earnings $255.0M $205.0M
YoY Change 24.39% -13.5%
Net Earnings / Revenue 18.55% 19.05%
Basic Earnings Per Share $0.36 $0.55
Diluted Earnings Per Share $0.35 $0.55
COMMON SHARES
Basic Shares Outstanding 356.0M shares 372.0M shares
Diluted Shares Outstanding 359.0M shares 375.0M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $439.0M $1.553B
YoY Change -71.73% 50.48%
Cash & Equivalents $439.0M $1.553B
Short-Term Investments
Other Short-Term Assets $581.0M $363.0M
YoY Change 60.06% 24.74%
Inventory
Prepaid Expenses
Receivables $1.344B $1.079B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.364B $2.995B
YoY Change -21.07% 30.27%
LONG-TERM ASSETS
Property, Plant & Equipment $492.0M $368.0M
YoY Change 33.7% -0.81%
Goodwill $7.301B $6.314B
YoY Change 15.63%
Intangibles $1.606B $552.0M
YoY Change 190.94%
Long-Term Investments $1.094B $821.0M
YoY Change 33.25% 0.61%
Other Assets $184.0M $155.0M
YoY Change 18.71% 6.16%
Total Long-Term Assets $12.50B $9.692B
YoY Change 29.0% 2.0%
TOTAL ASSETS
Total Short-Term Assets $2.364B $2.995B
Total Long-Term Assets $12.50B $9.692B
Total Assets $14.87B $12.69B
YoY Change 17.18% 7.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $116.0M $54.00M
YoY Change 114.81% 12.5%
Accrued Expenses $832.0M $618.0M
YoY Change 34.63% 29.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $23.00M $21.00M
YoY Change 9.52% 5.0%
Total Short-Term Liabilities $1.135B $826.0M
YoY Change 37.41% 16.83%
LONG-TERM LIABILITIES
Long-Term Debt $6.485B $5.210B
YoY Change 24.47% 23.2%
Other Long-Term Liabilities $309.0M $124.0M
YoY Change 149.19% 14.81%
Total Long-Term Liabilities $309.0M $124.0M
YoY Change 149.19% -97.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.135B $826.0M
Total Long-Term Liabilities $309.0M $124.0M
Total Liabilities $8.610B $6.420B
YoY Change 34.11% 18.91%
SHAREHOLDERS EQUITY
Retained Earnings $2.604B $1.851B
YoY Change 40.68%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.195B $2.248B
YoY Change 42.13%
Treasury Stock Shares
Shareholders Equity $6.220B $6.265B
YoY Change
Total Liabilities & Shareholders Equity $14.87B $12.69B
YoY Change 17.18% 7.51%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $255.0M $205.0M
YoY Change 24.39% -13.5%
Depreciation, Depletion And Amortization $388.0M $243.0M
YoY Change 59.67% -10.66%
Cash From Operating Activities $460.0M $382.0M
YoY Change 20.42% 16.11%
INVESTING ACTIVITIES
Capital Expenditures $22.00M $29.00M
YoY Change -24.14% 93.33%
Acquisitions
YoY Change
Other Investing Activities $45.00M -$52.00M
YoY Change -186.54% 372.73%
Cash From Investing Activities $23.00M -$81.00M
YoY Change -128.4% 211.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $448.0M $454.0M
YoY Change -1.32% 27.89%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -426.0M -448.0M
YoY Change -4.91% 26.55%
NET CHANGE
Cash From Operating Activities 460.0M 382.0M
Cash From Investing Activities 23.00M -81.00M
Cash From Financing Activities -426.0M -448.0M
Net Change In Cash 57.00M -147.0M
YoY Change -138.78% 188.24%
FREE CASH FLOW
Cash From Operating Activities $460.0M $382.0M
Capital Expenditures $22.00M $29.00M
Free Cash Flow $438.0M $353.0M
YoY Change 24.08% 12.42%

Facts In Submission

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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Depreciation And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Accounting and Reporting Pronouncements Not Yet Adopted </font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Presentation of Unrecognized Tax Benefits</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2013, the FASB issued guidance stating that a liability related to an unrecognized tax benefit should be offset against a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. The new guidance is effective on a prospective basis for annual and interim periods beginning after December 15, 2013, but early adoption and retrospective application are permitted. The Company is assessing the impact of this guidance on its consolidated financial statements.</font></div></div>
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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us-gaap Net Income Loss
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us-gaap Related Party Transaction Expenses From Transactions With Related Party
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us-gaap Stock Repurchased During Period Shares
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us-gaap Selling General And Administrative Expense
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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that affect the amounts and disclosures reported in the consolidated financial statements and accompanying notes. Management continually re-evaluates its estimates, judgments and assumptions, and management&#8217;s assessments could change. Actual results may differ from those estimates.</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant estimates inherent in the preparation of the consolidated financial statements include accounting for asset impairments, revenue recognition, allowances for doubtful accounts, content rights, depreciation and amortization, business combinations, equity-based compensation, income taxes, other financial instruments, contingencies, and the determination of whether the Company is the primary beneficiary of entities in which it holds variable interests.</font></div></div>
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
360000000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
356000000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
372000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
380000000 shares
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001437107
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Discovery Communications, Inc.

Files In Submission

Name View Source Status
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0001437107-13-000042-index.html Edgar Link pending
0001437107-13-000042.txt Edgar Link pending
0001437107-13-000042-xbrl.zip Edgar Link pending
a2013930-exhibit311.htm Edgar Link pending
a2013930-exhibit312.htm Edgar Link pending
a2013930-exhibit321.htm Edgar Link pending
a2013930-exhibit322.htm Edgar Link pending
disca-20130930.xml Edgar Link completed
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