2013 Q4 Form 10-Q Financial Statement

#000119312513415362 Filed on October 29, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $3.500B $3.621B $3.461B
YoY Change 1.92% 4.62% -1.73%
Cost Of Revenue $1.983B $2.325B $2.229B
YoY Change 2.06% 4.31% -1.42%
Gross Profit $1.517B $1.296B $1.232B
YoY Change 1.74% 5.19% -2.3%
Gross Profit Margin 43.34% 35.79% 35.6%
Selling, General & Admin $660.0M $349.0M $335.0M
YoY Change 3.61% 4.18% -11.84%
% of Gross Profit 43.51% 26.93% 27.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $327.0M $344.0M $331.0M
YoY Change 0.31% 3.93% 4.42%
% of Gross Profit 21.56% 26.54% 26.87%
Operating Expenses $987.0M $349.0M $335.0M
YoY Change 2.49% 4.18% -11.84%
Operating Profit -$410.0M $577.0M $500.0M
YoY Change -184.71% 15.4% -7.92%
Interest Expense -$131.0M -$119.0M -$121.0M
YoY Change 5.65% -1.65% -2.42%
% of Operating Profit -20.62% -24.2%
Other Income/Expense, Net -$62.00M -$3.000M -$14.00M
YoY Change 463.64% -78.57% -800.0%
Pretax Income -$603.0M $452.0M $348.0M
YoY Change -272.78% 29.89% -17.34%
Income Tax -$4.000M $155.0M $125.0M
% Of Pretax Income 34.29% 35.92%
Net Earnings -$605.0M $291.0M $214.0M
YoY Change -370.09% 35.98% -21.32%
Net Earnings / Revenue -17.29% 8.04% 6.18%
Basic Earnings Per Share -$1.29 $0.62 $0.46
Diluted Earnings Per Share -$1.29 $0.62 $0.46
COMMON SHARES
Basic Shares Outstanding 469.2M shares 469.3M shares 464.1M shares
Diluted Shares Outstanding 471.2M shares 464.9M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $235.0M $157.0M $398.0M
YoY Change 21.13% -60.55% 41.13%
Cash & Equivalents $58.00M $157.0M $398.0M
Short-Term Investments $177.0M
Other Short-Term Assets $163.0M $138.0M $159.0M
YoY Change 16.43% -13.21% -18.88%
Inventory $178.0M $178.0M $155.0M
Prepaid Expenses
Receivables $1.699B $1.751B $1.760B
Other Receivables $111.0M $109.0M $108.0M
Total Short-Term Assets $2.499B $2.417B $2.659B
YoY Change 3.14% -9.1% 9.92%
LONG-TERM ASSETS
Property, Plant & Equipment $12.34B $12.62B $12.52B
YoY Change -2.43% 0.82% 5.1%
Goodwill $6.070B $6.593B $6.259B
YoY Change -3.51% 5.34%
Intangibles $529.0M $569.0M $405.0M
YoY Change 33.25% 40.49%
Long-Term Investments $437.0M $656.0M $652.0M
YoY Change -1.35% 0.61%
Other Assets $747.0M $757.0M $580.0M
YoY Change 11.83% 30.52% -52.5%
Total Long-Term Assets $19.99B $21.20B $20.41B
YoY Change -3.3% 3.83% 3.98%
TOTAL ASSETS
Total Short-Term Assets $2.499B $2.417B $2.659B
Total Long-Term Assets $19.99B $21.20B $20.41B
Total Assets $22.49B $23.61B $23.07B
YoY Change -2.63% 2.34% 4.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $744.0M $763.0M $787.0M
YoY Change -11.64% -3.05% 16.42%
Accrued Expenses $1.069B $1.059B $1.115B
YoY Change 8.42% -5.02% -3.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $726.0M $568.0M $826.0M
YoY Change -2.29% -31.23% 267.11%
Total Short-Term Liabilities $3.014B $2.862B $3.187B
YoY Change -0.72% -10.2% 26.12%
LONG-TERM LIABILITIES
Long-Term Debt $9.500B $9.491B $9.166B
YoY Change 3.56% 3.55% -2.36%
Other Long-Term Liabilities $727.0M $744.0M $759.0M
YoY Change -9.91% -1.98% -64.81%
Total Long-Term Liabilities $727.0M $744.0M $759.0M
YoY Change -9.91% -1.98% -93.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.014B $2.862B $3.187B
Total Long-Term Liabilities $727.0M $744.0M $759.0M
Total Liabilities $16.60B $16.60B $16.46B
YoY Change 1.09% 0.83% 2.22%
SHAREHOLDERS EQUITY
Retained Earnings $6.289B $7.066B $6.820B
YoY Change -8.58% 3.61%
Common Stock $4.602B $4.588B $4.552B
YoY Change 1.03% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.338B $5.115B $5.284B
YoY Change 1.23% -3.2%
Treasury Stock Shares 166.0M shares 161.1M shares 166.4M shares
Shareholders Equity $5.707B $6.708B $6.288B
YoY Change
Total Liabilities & Shareholders Equity $22.60B $23.61B $23.07B
YoY Change -2.14% 2.34% 4.63%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$605.0M $291.0M $214.0M
YoY Change -370.09% 35.98% -21.32%
Depreciation, Depletion And Amortization $327.0M $344.0M $331.0M
YoY Change 0.31% 3.93% 4.42%
Cash From Operating Activities $597.0M $736.0M $574.0M
YoY Change 3.47% 28.22% -12.9%
INVESTING ACTIVITIES
Capital Expenditures -$447.0M -$323.0M -$402.0M
YoY Change 18.25% -19.65% 28.43%
Acquisitions
YoY Change
Other Investing Activities -$21.00M -$416.0M -$56.00M
YoY Change -76.92% 642.86% -85.93%
Cash From Investing Activities -$468.0M -$739.0M -$458.0M
YoY Change -0.21% 61.35% -35.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -228.0M 6.000M 43.00M
YoY Change -26.69% -86.05% -226.47%
NET CHANGE
Cash From Operating Activities 597.0M 736.0M 574.0M
Cash From Investing Activities -468.0M -739.0M -458.0M
Cash From Financing Activities -228.0M 6.000M 43.00M
Net Change In Cash -99.00M 3.000M 159.0M
YoY Change -51.23% -98.11% -284.88%
FREE CASH FLOW
Cash From Operating Activities $597.0M $736.0M $574.0M
Capital Expenditures -$447.0M -$323.0M -$402.0M
Free Cash Flow $1.044B $1.059B $976.0M
YoY Change 9.32% 8.5% 0.41%

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<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2%; FONT-SIZE: 10pt"> <b><i>Reclassifications</i></b></p> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> When necessary, reclassifications have been made to our prior period consolidated financial information in order to conform to the current year presentation.</p> </div>
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(i) a written decision of all members of the LLCs; (ii) December 31, 2063; (iii) a court's dissolution of the LLCs; or (iv) the LLCs ceasing to own any interest in the waste-to-energy facilities.
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