| Metric | Q3 2019 | Q2 2019 | Q3 2018 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $456M | $451M | $399M | 1.1% | 14.1% |
| Op. Income | $160M | $156M | $134M | 2.9% | 20.0% |
| Gross Margin | 92.8% | 93.7% | 98.4% | -0.8pp | -5.6pp |
| Net Margin | 27.4% | 26.5% | 29.4% | 0.9pp | -2.0pp |
| EPS (Diluted) | $11.27 | $10.56 | $9.80 | 6.7% | 15.0% |
| Free Cash Flow | $145M | $49M | -$221M | 197.7% | 165.5% |
| Item | Amount |
|---|---|
| REVENUE | $456M |
| Cost of Revenue | $33M |
| GROSS PROFIT | $423M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $169M |
| SG&A Expenses | $169M |
| Other Expenses | $95M |
| Operating Expenses | $263M |
| Cost & Expenses | $296M |
| OPERATING INCOME | $160M |
| Interest Income | $362M |
| Interest Expense | $26M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $160M |
| Income Tax Expense | $35M |
| Net Income from Continuing Ops | $125M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $125M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $125M |
| D&A | $32M |
| EBIT | $160M |
| EBITDA | $193M |
| EPS | $11 |
| EPS Diluted | $11 |
| Item | Amount |
|---|---|
| REVENUE | $456M |
| Cost of Revenue | $33M |
| GROSS PROFIT | $423M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $169M |
| SG&A Expenses | $169M |
| Other Expenses | $95M |
| Operating Expenses | $263M |
| Cost & Expenses | $296M |
| OPERATING INCOME | $160M |
| Interest Income | $362M |
| Interest Expense | $26M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $160M |
| Income Tax Expense | $35M |
| Net Income from Continuing Ops | $125M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $125M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $125M |
| D&A | $32M |
| EBIT | $160M |
| EBITDA | $193M |
| EPS | $11 |
| EPS Diluted | $11 |
| Item | Amount |
|---|---|
| Net Income | $125M |
| Depreciation & Amortization | $32M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $39M |
| Other Non-Cash Items | -$37M |
| Change in Working Capital | $21M |
| OPERATING CASH FLOW | $179M |
| Capital Expenditure | -$34M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.5B |
| Sales/Maturities of Investments | $1.9B |
| Other Investing Activities | -$454M |
| NET CASH FROM INVESTING | -$120M |
| Net Debt Issuance | $60M |
| Common Stock Repurchased | -$134M |
| Common Dividends Paid | -$4M |
| Other Financing Activities | $24M |
| NET CASH FROM FINANCING | -$55M |
| FREE CASH FLOW | $145M |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $289M |
| Short-Term Investments | $5.9B |
| Net Receivables | $117M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $6.3B |
| PP&E (Net) | $1.2B |
| Goodwill | $297M |
| Intangible Assets | $65M |
| Long-Term Investments | $29.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $587M |
| TOTAL NON-CURRENT ASSETS | $31.5B |
| TOTAL ASSETS | $37.7B |
| Account Payables | $0 |
| Short-Term Debt | $522M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $32.7B |
| TOTAL CURRENT LIABILITIES | $33.3B |
| Long-Term Debt | $454M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $460M |
| TOTAL NON-CURRENT LIABILITIES | $914M |
| TOTAL LIABILITIES | $34.2B |
| Common Stock | $11M |
| Additional Paid-In Capital | $169M |
| Retained Earnings | $3.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$172M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.6B |
| TOTAL LIABILITIES & EQUITY | $37.7B |
| Total Debt | $976M |
| Net Debt | $687M |
