2018 Form 10-K Financial Statement

#000116600319000021 Filed on February 14, 2019

View on sec.gov

Income Statement

Concept 2018 2017 Q4 2017
Revenue $17.28B $4.194B $15.38B
YoY Change 12.34% 14.08% 5.21%
Cost Of Revenue $9.013B $2.230B $8.132B
YoY Change 10.83% 13.77% 3.11%
Gross Profit $8.266B $1.964B $7.249B
YoY Change 14.03% 14.45% 7.68%
Gross Profit Margin 47.84% 46.83% 47.13%
Selling, General & Admin $1.837B $447.6M $1.661B
YoY Change 10.6% 4.75% 12.38%
% of Gross Profit 22.22% 22.79% 22.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $546.0M $168.9M $488.0M
YoY Change 11.89% 7.17% 4.72%
% of Gross Profit 6.61% 8.6% 6.73%
Operating Expenses $16.58B $1.838B $14.80B
YoY Change 12.0% 11.13% 4.55%
Operating Profit $704.0M $126.4M $582.0M
YoY Change 20.96% 45.96% 25.43%
Interest Expense $217.0M -$65.70M $284.0M
YoY Change -23.59% 84.03% -21.33%
% of Operating Profit 30.82% -51.98% 48.8%
Other Income/Expense, Net $109.0M $21.20M $57.00M
YoY Change 91.23% -13.82% 67.65%
Pretax Income $319.0M $59.50M $278.0M
YoY Change 14.75% 71.97% -497.14%
Income Tax $122.0M $25.60M -$99.00M
% Of Pretax Income 38.24% 43.03% -35.61%
Net Earnings $422.0M $204.3M $340.0M
YoY Change 24.12% 536.45% 392.75%
Net Earnings / Revenue 2.44% 4.87% 2.21%
Basic Earnings Per Share $3.17 $2.72
Diluted Earnings Per Share $2.88 $1.531M $2.45
COMMON SHARES
Basic Shares Outstanding 123.0M shares 119.9M shares 115.0M shares
Diluted Shares Outstanding 135.0M shares 128.0M shares

Balance Sheet

Concept 2018 2017 Q4 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $502.0M $397.0M $397.0M
YoY Change 26.45% 6.43% 6.43%
Cash & Equivalents $502.0M $397.0M $397.0M
Short-Term Investments
Other Short-Term Assets $590.0M $466.0M $466.0M
YoY Change 26.61% 20.44% 82.03%
Inventory
Prepaid Expenses
Receivables $2.596B $2.725B $2.725B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.688B $3.588B $3.588B
YoY Change 2.79% 16.74% 16.72%
LONG-TERM ASSETS
Property, Plant & Equipment $2.605B $2.664B $2.664B
YoY Change -2.21% 4.99% 5.01%
Goodwill $4.564B
YoY Change 5.5%
Intangibles $1.435B
YoY Change -6.5%
Long-Term Investments
YoY Change
Other Assets $257.0M $351.0M $351.0M
YoY Change -26.78% 54.69% 54.63%
Total Long-Term Assets $8.582B $9.014B $9.014B
YoY Change -4.79% 4.51% 4.52%
TOTAL ASSETS
Total Short-Term Assets $3.688B $3.588B $3.588B
Total Long-Term Assets $8.582B $9.014B $9.014B
Total Assets $12.27B $12.60B $12.60B
YoY Change -2.63% 7.72% 7.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.258B $1.251B $1.251B
YoY Change 0.56% 18.43% 18.47%
Accrued Expenses $1.480B $1.526B $1.526B
YoY Change -3.01% 16.67% 16.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $367.0M $103.7M $104.0M
YoY Change 252.88% -24.03% -24.09%
Total Short-Term Liabilities $3.313B $2.997B $2.997B
YoY Change 10.54% 9.72% 9.7%
LONG-TERM LIABILITIES
Long-Term Debt $3.902B $4.418B $4.418B
YoY Change -11.68% -6.63% -6.64%
Other Long-Term Liabilities $641.0M $596.0M $758.0M
YoY Change -15.44% 59.4% 21.28%
Total Long-Term Liabilities $4.543B $5.595B $5.176B
YoY Change -12.23% -5.64% -3.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.313B $2.997B $2.997B
Total Long-Term Liabilities $4.543B $5.595B $5.176B
Total Liabilities $8.695B $8.592B $8.997B
YoY Change -3.36% -0.79% -0.01%
SHAREHOLDERS EQUITY
Retained Earnings -$43.00M
YoY Change -89.06%
Common Stock $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.575B $3.604B $3.604B
YoY Change
Total Liabilities & Shareholders Equity $12.27B $12.60B $12.60B
YoY Change -2.63% 7.72% 7.73%

Cashflow Statement

Concept 2018 2017 Q4 2017
OPERATING ACTIVITIES
Net Income $422.0M $204.3M $340.0M
YoY Change 24.12% 536.45% 392.75%
Depreciation, Depletion And Amortization $546.0M $168.9M $488.0M
YoY Change 11.89% 7.17% 4.72%
Cash From Operating Activities $1.102B $265.5M $785.0M
YoY Change 40.38% 22.13% 26.21%
INVESTING ACTIVITIES
Capital Expenditures $551.0M -$114.1M $504.0M
YoY Change 9.33% -30.64% 4.35%
Acquisitions $0.00
YoY Change
Other Investing Activities -$8.000M $58.40M $0.00
YoY Change -89.54% -100.0%
Cash From Investing Activities -$400.0M -$55.70M -$386.0M
YoY Change 3.63% -114.14% -371.83%
FINANCING ACTIVITIES
Cash Dividend Paid $8.000M $7.000M
YoY Change 14.29% 40.0%
Common Stock Issuance & Retirement, Net $536.0M -$288.0M
YoY Change -286.11%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$620.0M -262.5M -$366.0M
YoY Change 69.4% -56.08% -46.26%
NET CHANGE
Cash From Operating Activities $1.102B 265.5M $785.0M
Cash From Investing Activities -$400.0M -55.70M -$386.0M
Cash From Financing Activities -$620.0M -262.5M -$366.0M
Net Change In Cash $65.00M -52.70M $49.00M
YoY Change 32.65% -484.67% -37.97%
FREE CASH FLOW
Cash From Operating Activities $1.102B $265.5M $785.0M
Capital Expenditures $551.0M -$114.1M $504.0M
Free Cash Flow $551.0M $379.6M $281.0M
YoY Change 96.09% -0.6% 102.16%

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330000000 USD
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5000000 USD
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560000000 USD
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261000000 USD
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390000000 USD
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460000000 USD
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820000000 USD
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47000000 USD
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CY2018 us-gaap Payments For Repurchase Of Common Stock
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536000000 USD
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3000000 USD
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10000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
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CY2018Q4 us-gaap Preferred Stock Shares Issued
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70000 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
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0 USD
CY2018 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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288000000 USD
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360000000 USD
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10000000 USD
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330000000 USD
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925000000 USD
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151000000 USD
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P1Y
CY2018Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P1Y
CY2018Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P1Y
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11000000 shares
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CY2018 us-gaap Share Based Compensation
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49000000 USD
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349000000 USD
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1000000000 USD
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CY2018Q4 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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4010000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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25000000 USD
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29000000 USD
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CY2017Q4 us-gaap Unrecognized Tax Benefits
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CY2018Q4 us-gaap Unrecognized Tax Benefits
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0 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
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0 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
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1000000 USD
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CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 USD
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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3000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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0 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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5000000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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6000000 USD
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10000000 USD
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CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
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CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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10000000 shares
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11000000 shares
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12000000 shares
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123000000 shares
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128000000 shares
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135000000 shares
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110000000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
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115000000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
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123000000 shares
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231000000 USD
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438000000 USD
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462000000 USD
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176000000 USD
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172000000 USD
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-0.047
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-0.038
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0.024
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CY2018 xpo Effective Income Tax Rate Reconciliation Foreign Operations
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0.083
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P3M
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2000000 shares
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2000000 shares
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CY2017 xpo Gain Loss On Extinguishment Of Debt Non Cash
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4580000000 USD
CY2018Q4 xpo Long Term Debt And Capital Lease Obligations Excluding Current Maturities And Short Term Debt
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4044000000 USD
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331000000 USD
CY2018Q4 xpo Other Accrued Expenses Current
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307000000 USD
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1889000000 USD
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1387000000 USD
CY2018 xpo Payments For Repurchase Of Debt
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1225000000 USD
CY2017 xpo Proceeds From Accounts Receivable Factoring Program
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119000000 USD
CY2018 xpo Proceeds From Accounts Receivable Factoring Program
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246000000 USD
CY2017Q4 xpo Short Term Debt And Current Maturities Of Long Term Debt
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104000000 USD
CY2018Q4 xpo Short Term Debt And Current Maturities Of Long Term Debt
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371000000 USD
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10000000 USD
CY2017 xpo Stock Issued During Period Value Sharebased Compensation Exercisedand Vested
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1000000 USD
CY2018 xpo Stock Issued During Period Value Sharebased Compensation Exercisedand Vested
StockIssuedDuringPeriodValueSharebasedCompensationExercisedandVested
1000000 USD
CY2017Q4 xpo Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncomeTaxExpenseBenefit
-173000000 USD
CY2017 xpo Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncomeTaxExpenseBenefit
-173000000 USD
CY2018 xpo Tax Cutsand Jobs Actof2017 Transition Taxfor Accumulated Foreign Earnings Income Tax Expense
TaxCutsandJobsActof2017TransitionTaxforAccumulatedForeignEarningsIncomeTaxExpense
2000000 USD
CY2016Q4 xpo Unrecognized Tax Benefits And Unrecognized Tax Benefits Income Tax Penaltiesand Interest Accrued
UnrecognizedTaxBenefitsAndUnrecognizedTaxBenefitsIncomeTaxPenaltiesandInterestAccrued
19000000 USD
CY2017Q4 xpo Unrecognized Tax Benefits And Unrecognized Tax Benefits Income Tax Penaltiesand Interest Accrued
UnrecognizedTaxBenefitsAndUnrecognizedTaxBenefitsIncomeTaxPenaltiesandInterestAccrued
30000000 USD
CY2018Q4 xpo Unrecognized Tax Benefits And Unrecognized Tax Benefits Income Tax Penaltiesand Interest Accrued
UnrecognizedTaxBenefitsAndUnrecognizedTaxBenefitsIncomeTaxPenaltiesandInterestAccrued
29000000 USD
CY2018 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:12px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;">Advertising Costs</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:8px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Advertising costs are expensed as incurred.</font></div></div>

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