10-Q Filing

ZEBRA TECHNOLOGIES CORP CIK: 877212 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000877212-18-000023`
Period End Date	20180331
Filing Date	20180508
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	zbra-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 50 Cash Flow Statement 62 Comprehensive Income 10

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.00M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.00M	USD	Point-in-time
Preferred stock, par value (USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$156.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$180.00M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.00M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts of $2 million and $3 million as of March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$479.00M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts of $2 million and $3 million as of March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$471.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$458.00M	USD	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$448.00M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$31.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$40.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$39.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$24.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	72.15M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	72.15M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	18.92M	shares	Point-in-time
Total Current assets	`AssetsCurrent`	$1.06B	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	18.76M	shares	Point-in-time
Total Current assets	`AssetsCurrent`	$1.05B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$262.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$264.00M	USD	Point-in-time
Goodwill	`Goodwill`	$2.46B	USD	Point-in-time
Goodwill	`Goodwill`	$2.46B	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$299.00M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$276.00M	USD	Point-in-time
Long-term deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$119.00M	USD	Point-in-time
Long-term deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$115.00M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$65.00M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$80.00M	USD	Point-in-time
Total Assets	`Assets`	$4.25B	USD	Point-in-time
Total Assets	`Assets`	$4.28B	USD	Point-in-time
Current portion of long-term debt	`DebtCurrent`	$43.00M	USD	Point-in-time
Current portion of long-term debt	`DebtCurrent`	$51.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$424.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$411.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$296.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$221.00M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$186.00M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$201.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$56.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$43.00M	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$1.00B	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$932.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.18B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.09B	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$148.00M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$144.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$102.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$117.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.44B	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.27B	USD	Point-in-time
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares	`CommonStockValue`	$1.00M	USD	Point-in-time
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares	`CommonStockValue`	$1.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$257.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$266.00M	USD	Point-in-time
Treasury stock at cost, 18,755,228 and 18,915,762 shares at March 31, 2018 and December 31, 2017, respectively	`TreasuryStockValue`	$620.00M	USD	Point-in-time
Treasury stock at cost, 18,755,228 and 18,915,762 shares at March 31, 2018 and December 31, 2017, respectively	`TreasuryStockValue`	$616.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.38B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.25B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-52.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-46.00M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$834.00M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$981.00M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$4.28B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$4.25B	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net sales of tangible products	`SalesRevenueGoodsNet`	$735.00M	USD	1 Quarter
Net sales of tangible products	`SalesRevenueGoodsNet`	$839.00M	USD	1 Quarter
Revenue from services and software	`SalesRevenueServicesNet`	$138.00M	USD	1 Quarter
Revenue from services and software	`SalesRevenueServicesNet`	$130.00M	USD	1 Quarter
Total Net sales	`SalesRevenueNet`	$865.00M	USD	1 Quarter
Total Net sales	`SalesRevenueNet`	$977.00M	USD	1 Quarter
Cost of sales of tangible products	`CostOfGoodsSold`	$379.00M	USD	1 Quarter
Cost of sales of tangible products	`CostOfGoodsSold`	$423.00M	USD	1 Quarter
Cost of services and software	`CostOfServices`	$85.00M	USD	1 Quarter
Cost of services and software	`CostOfServices`	$89.00M	USD	1 Quarter
Total Cost of sales	`CostOfGoodsAndServicesSold`	$512.00M	USD	1 Quarter
Total Cost of sales	`CostOfGoodsAndServicesSold`	$464.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$465.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$401.00M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$120.00M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$109.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$96.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$101.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$75.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$71.00M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$23.00M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$50.00M	USD	1 Quarter
Acquisition and integration costs	`BusinessCombinationAcquisitionRelatedCosts`	$2.00M	USD	1 Quarter
Acquisition and integration costs	`BusinessCombinationAcquisitionRelatedCosts`	$27.00M	USD	1 Quarter
Exit and restructuring costs	`RestructuringCharges`	$4.00M	USD	1 Quarter
Exit and restructuring costs	`RestructuringCharges`	$4.00M	USD	1 Quarter
Total Operating expenses	`OperatingExpenses`	$361.00M	USD	1 Quarter
Total Operating expenses	`OperatingExpenses`	$321.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$144.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$40.00M	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.00M	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	-	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-41.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-11.00M	USD	1 Quarter
Total Other expenses, net	`NonoperatingIncomeExpense`	$-42.00M	USD	1 Quarter
Total Other expenses, net	`NonoperatingIncomeExpense`	$-11.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$133.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.00M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$24.00M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-10.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$109.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.00M	USD	1 Quarter
Basic earnings per share (USD per share)	`EarningsPerShareBasic`	$2.04	USD	1 Quarter
Basic earnings per share (USD per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Diluted earnings per share (USD per share)	`EarningsPerShareDiluted`	$2.01	USD	1 Quarter
Diluted earnings per share (USD per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	51.84M	shares	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	53.29M	shares	1 Quarter
Diluted weighted average and equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	52.95M	shares	1 Quarter
Diluted weighted average and equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.99M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$109.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$69.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$43.00M	USD	1 Quarter
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$4.00M	USD	1 Quarter
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$2.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$7.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$10.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-9.00M	USD	1 Quarter
Unrealized gain on forward interest rate swaps	`UnrealizedGainLossOnDerivatives`	$12.00M	USD	1 Quarter
Unrealized gain on forward interest rate swaps	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-1.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$1.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-79.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-9.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-6.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$31.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-17.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$7.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-52.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-12.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-74.00M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$19.00M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$30.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$22.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-2.00M	USD	1 Quarter
Other operating activities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-4.00M	USD	1 Quarter
Other operating activities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$117.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$116.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.00M	USD	1 Quarter
Purchases of long-term investments	`PaymentsToAcquireLongtermInvestments`	$2.00M	USD	1 Quarter
Purchases of long-term investments	`PaymentsToAcquireLongtermInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.00M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$80.00M	USD	1 Quarter
Payments of long-term debt	`RepaymentsOfLongTermDebt`	$95.00M	USD	1 Quarter
Proceeds from exercise of stock options and stock purchase plan purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$3.00M	USD	1 Quarter
Proceeds from exercise of stock options and stock purchase plan purchases	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$4.00M	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-78.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-92.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$156.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$180.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$62.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$156.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$180.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$62.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.00M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$5.00M	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$2.00M	USD	1 Quarter
Interest paid	`InterestPaid`	$26.00M	USD	1 Quarter
Interest paid	`InterestPaid`	$16.00M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$109.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.00M	USD	1 Quarter
Unrealized loss on anticipated sales hedging transactions	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-1.00M	USD	1 Quarter
Unrealized loss on anticipated sales hedging transactions	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.00M	USD	1 Quarter
Unrealized gain on forward interest rate swaps hedging transactions	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$5.00M	USD	1 Quarter
Unrealized gain on forward interest rate swaps hedging transactions	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$2.00M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.00M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$115.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.