2015 Q2 Form 10-Q Financial Statement

#000142390215000013 Filed on May 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $466.0M $437.0M $293.7M
YoY Change 34.85% 48.78% 30.1%
Cost Of Revenue $147.2M $139.4M $95.40M
YoY Change 20.36% 46.12% 14.8%
Gross Profit $318.8M $297.6M $199.8M
YoY Change 32.17% 48.95% 40.01%
Gross Profit Margin 68.41% 68.1% 68.02%
Selling, General & Admin $97.60M $97.40M $61.70M
YoY Change 10.28% 57.86% 19.81%
% of Gross Profit 30.61% 32.73% 30.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.55M $68.98M $42.09M
YoY Change 51.32% 63.89% 29.73%
% of Gross Profit 21.5% 23.18% 21.06%
Operating Expenses $166.2M $166.4M $102.6M
YoY Change 23.11% 62.18% 22.29%
Operating Profit $169.9M -$123.2M $104.8M
YoY Change 40.65% -217.5% 67.02%
Interest Expense $27.60M $22.96M $13.96M
YoY Change 32.3% 64.47% 18.2%
% of Operating Profit 16.25% 13.32%
Other Income/Expense, Net $80.00K $80.00K $496.0K
YoY Change -65.96% -83.87% -31.77%
Pretax Income $146.6M -$141.8M $95.58M
YoY Change 40.43% -248.38% 70.99%
Income Tax $12.25M $12.27M $1.785M
% Of Pretax Income 8.35% 1.87%
Net Earnings $87.65M -$16.37M $53.16M
YoY Change 47.59% -130.8% 64.22%
Net Earnings / Revenue 18.81% -3.75% 18.1%
Basic Earnings Per Share
Diluted Earnings Per Share $396.3K -$74.92K $244.9K
COMMON SHARES
Basic Shares Outstanding 218.9M shares 218.9M shares 218.9M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $89.00M $60.00M $94.00M
YoY Change -27.05% -36.17% 3.3%
Cash & Equivalents $89.26M $59.82M $94.12M
Short-Term Investments
Other Short-Term Assets $12.02M $11.04M $7.997M
YoY Change 144.67% 38.08% -11.99%
Inventory $6.000M $6.000M $3.000M
Prepaid Expenses
Receivables $172.4M $144.1M $100.5M
Other Receivables $1.000M $2.000M $3.000M
Total Short-Term Assets $273.7M $215.0M $202.6M
YoY Change 16.05% 6.1% 57.02%
LONG-TERM ASSETS
Property, Plant & Equipment $4.783B $4.711B $3.519B
YoY Change 30.84% 33.86% 17.78%
Goodwill $393.0M $393.0M $105.3M
YoY Change 273.13% 273.13% 0.0%
Intangibles $846.3M $853.4M $53.26M
YoY Change 1499.62% 1502.48% -3.45%
Long-Term Investments $630.9M $635.9M $613.2M
YoY Change -1.04% 3.7% 457.77%
Other Assets $31.17M $27.62M $34.68M
YoY Change 5.6% -20.38% 27.3%
Total Long-Term Assets $6.944B $6.881B $4.586B
YoY Change 46.48% 50.05% 29.33%
TOTAL ASSETS
Total Short-Term Assets $273.7M $215.0M $202.6M
Total Long-Term Assets $6.944B $6.881B $4.586B
Total Assets $7.218B $7.096B $4.789B
YoY Change 45.04% 48.19% 30.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.00M $51.00M $30.00M
YoY Change 55.17% 70.0% -18.92%
Accrued Expenses $149.7M $171.8M $125.1M
YoY Change 12.41% 37.36% -15.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $213.1M $242.5M $172.6M
YoY Change 20.6% 40.49% -15.08%
LONG-TERM LIABILITIES
Long-Term Debt $2.677B $2.533B $1.913B
YoY Change 32.34% 32.42% 23.15%
Other Long-Term Liabilities $300.0M $290.0M $80.00M
YoY Change 265.85% 262.5% 12.68%
Total Long-Term Liabilities $2.983B $2.831B $1.993B
YoY Change 41.67% 42.05% 22.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $213.1M $242.5M $172.6M
Total Long-Term Liabilities $2.983B $2.831B $1.993B
Total Liabilities $3.196B $3.074B $2.166B
YoY Change 40.04% 41.93% 18.38%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.150B $1.157B $922.0M
YoY Change
Total Liabilities & Shareholders Equity $7.218B $7.096B $4.789B
YoY Change 45.04% 48.19% 30.3%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $87.65M -$16.37M $53.16M
YoY Change 47.59% -130.8% 64.22%
Depreciation, Depletion And Amortization $68.55M $68.98M $42.09M
YoY Change 51.32% 63.89% 29.73%
Cash From Operating Activities $176.9M $194.3M $132.3M
YoY Change 21.75% 46.86% 2.43%
INVESTING ACTIVITIES
Capital Expenditures -$150.2M -$211.6M -$199.2M
YoY Change -21.48% 6.22% 19.64%
Acquisitions
YoY Change
Other Investing Activities -$7.400M -$2.700M $857.0K
YoY Change -68.64% -415.05%
Cash From Investing Activities -$157.7M -$214.2M -$586.5M
YoY Change -26.65% -63.48% -24.02%
FINANCING ACTIVITIES
Cash Dividend Paid $68.41M $50.62M
YoY Change 35.14% 544.69%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $31.15M $430.0M
YoY Change -92.76%
Cash From Financing Activities 10.10M 12.60M 435.3M
YoY Change -89.65% -97.11% 39.68%
NET CHANGE
Cash From Operating Activities 176.9M 194.3M 132.3M
Cash From Investing Activities -157.7M -214.2M -586.5M
Cash From Financing Activities 10.10M 12.60M 435.3M
Net Change In Cash 29.30M -7.300M -18.90M
YoY Change 5.02% -61.38% -94.29%
FREE CASH FLOW
Cash From Operating Activities $176.9M $194.3M $132.3M
Capital Expenditures -$150.2M -$211.6M -$199.2M
Free Cash Flow $327.1M $405.9M $331.5M
YoY Change -2.82% 22.44% 12.12%

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ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
2964000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
917742000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
140000000 USD
CY2014Q1 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
23838000 USD
CY2015Q1 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
30096000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
93796000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
85966000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5626650000 USD
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5814914000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4571443000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4711271000 USD
CY2014Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
430000000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1097000 USD
CY2014Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
7234000 USD
CY2015Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
8523000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
207000 USD
CY2015Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
299000 USD
CY2015Q1 wgp Contributions Of Equity Based Compensation From Parent
ContributionsOfEquityBasedCompensationFromParent
824000 USD
CY2015Q1 wgp Number Of Days Subsequent To Quarter End That Cash Is Required To Be Distributed
NumberOfDaysSubsequentToQuarterEndThatCashIsRequiredToBeDistributed
P55D
CY2014Q1 wgp Preacquisition Net Income Loss Allocated To Parent
PreacquisitionNetIncomeLossAllocatedToParent
2665000 USD
CY2015Q1 wgp Preacquisition Net Income Loss Allocated To Parent
PreacquisitionNetIncomeLossAllocatedToParent
1742000 USD
CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10.5pt;"><font style="font-family:inherit;font-size:10.5pt;">In preparing financial statements in accordance with GAAP, management makes informed judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. Management evaluates its estimates and related assumptions regularly, using historical experience and other methods considered reasonable. Changes in facts and circumstances or additional information may result in revised estimates and actual results may differ from these estimates. Effects on the business, financial condition and results of operations resulting from revisions to estimates are recognized when the facts that give rise to the revisions become known. The information furnished herein reflects all normal recurring adjustments which are, in the opinion of management, necessary for a fair presentation of the consolidated financial statements, and certain prior-period amounts have been reclassified to conform to the current-year presentation.</font></div></div>

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0001423902-15-000013.txt Edgar Link pending
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wgp-20150331.xml Edgar Link completed
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