| Metric | Q4 2020 | Q3 2020 | Q4 2019 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $737M | $738M | $799M | -0.1% | -7.8% |
| Op. Income | $359M | $215M | $235M | 67.0% | 52.8% |
| Gross Margin | 106.4% | 89.0% | 88.5% | 17.4pp | 17.9pp |
| Net Margin | 38.5% | 23.7% | 22.9% | 14.8pp | 15.6pp |
| EPS (Diluted) | $1.66 | $1.01 | $0.97 | 64.4% | 71.1% |
| Free Cash Flow | $123M | $109M | $328M | 12.8% | -62.5% |
| Item | Amount |
|---|---|
| REVENUE | $737M |
| Cost of Revenue | -$47M |
| GROSS PROFIT | $784M |
| R&D Expenses | $0 |
| Selling & Marketing | $6M |
| General & Administrative | $285M |
| SG&A Expenses | $291M |
| Other Expenses | $134M |
| Operating Expenses | $425M |
| Cost & Expenses | $378M |
| OPERATING INCOME | $359M |
| Interest Income | $571M |
| Interest Expense | $20M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $359M |
| Income Tax Expense | $75M |
| Net Income from Continuing Ops | $284M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $284M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $272M |
| D&A | $11M |
| EBIT | $359M |
| EBITDA | $370M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $737M |
| Cost of Revenue | -$47M |
| GROSS PROFIT | $784M |
| R&D Expenses | $0 |
| Selling & Marketing | $6M |
| General & Administrative | $285M |
| SG&A Expenses | $291M |
| Other Expenses | $134M |
| Operating Expenses | $425M |
| Cost & Expenses | $378M |
| OPERATING INCOME | $359M |
| Interest Income | $571M |
| Interest Expense | $20M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $359M |
| Income Tax Expense | $75M |
| Net Income from Continuing Ops | $284M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $284M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $272M |
| D&A | $11M |
| EBIT | $359M |
| EBITDA | $370M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $284M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $39M |
| Other Non-Cash Items | -$80M |
| Change in Working Capital | -$87M |
| OPERATING CASH FLOW | $171M |
| Capital Expenditure | -$48M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$5.6B |
| Sales/Maturities of Investments | $1.3B |
| Other Investing Activities | $1.3B |
| NET CASH FROM INVESTING | -$3.0B |
| Net Debt Issuance | $320M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$64M |
| Other Financing Activities | $2.6B |
| NET CASH FROM FINANCING | $2.8B |
| FREE CASH FLOW | $123M |
| Net Change in Cash | -$33M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.6B |
| Short-Term Investments | $15.7B |
| Net Receivables | $320M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $17.7B |
| PP&E (Net) | $1.2B |
| Goodwill | $1.0B |
| Intangible Assets | $2M |
| Long-Term Investments | $53.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $8.2B |
| TOTAL NON-CURRENT ASSETS | $63.8B |
| TOTAL ASSETS | $81.5B |
| Account Payables | $0 |
| Short-Term Debt | $1.6B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $69.7B |
| TOTAL CURRENT LIABILITIES | $71.2B |
| Long-Term Debt | $1.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.0B |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $73.6B |
| Common Stock | $2.7B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $4.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $325M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.9B |
| TOTAL LIABILITIES & EQUITY | $81.5B |
| Total Debt | $2.9B |
| Net Debt | $1.3B |
