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BE Aerospace - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

BE Aerospace (ISIN: US0733021010, WKN: 880072) Kursdatum: 13.04.2017 Kurs: 64,470 USD
Beschreibung Daten
Symbol BEAV
Marktkapitalisierung 6.505.022.976,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Transport & Logistik
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2014-12-17 - 1381:1000 |
Internet
Letztes Bilanz Update 28.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 13.04.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
28,78 21,20 1,30% 9,22 6,42 20,93 2,22 30,05

Firmenbeschreibung

 

 

16. SELECTED QUARTERLY DATA  (Unaudited)

 

 

 

 

 

Selected unaudited financial data for each quarter of the last two fiscal years is presented in the tables below and has been recast for 2014 to reflect the Spin-Off for all periods presented as discontinued operations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

Year Ended December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

First

 

 

 

 

 

 

 

Second

 

 

 

 

 

 

 

Third

 

 

 

 

 

 

 

Fourth

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

Quarter

 

 

 

    

 

 

 

Quarter

 

 

 

    

 

 

 

Quarter

 

 

 

    

 

 

 

Quarter

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues(1)

 

 

 

    

 

 

 

$

 

690.0

 

 

 

 

 

 

 

$

 

700.6

 

 

 

 

 

 

 

$

 

679.8

 

 

 

    

 

 

 

$

 

659.2

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

 

    

 

 

 

 

 

401.6

 

 

 

 

 

 

 

 

 

420.1

 

 

 

 

 

 

 

 

 

424.4

 

 

 

 

 

 

 

 

 

396.4

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

    

 

 

 

 

 

288.4

 

 

 

 

 

 

 

 

 

280.5

 

 

 

 

 

 

 

 

 

255.4

 

 

 

 

 

 

 

 

 

262.8

 

 

 

 

 

 

 

 

 

Net earnings  

 

 

 

    

 

 

 

 

 

77.6

 

 

 

 

 

 

 

 

 

78.9

 

 

 

 

 

 

 

 

 

45.8

 

 

 

 

 

 

 

 

 

83.4

 

 

 

 

 

 

 

 

 

Basic net earnings per share(3)

 

 

 

    

 

 

 

 

 

0.74

 

 

 

 

 

 

 

 

 

0.76

 

 

 

 

 

 

 

 

 

0.44

 

 

 

 

 

 

 

 

 

0.81

 

 

 

 

 

 

 

 

 

Diluted net earnings per share(3)

 

 

 

    

 

 

 

 

 

0.74

 

 

 

 

 

 

 

 

 

0.75

 

 

 

 

 

 

 

 

 

0.44

 

 

 

 

 

 

 

 

 

0.81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

Year Ended December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

First

 

 

 

 

 

 

 

Second

 

 

 

 

 

 

 

Third

 

 

 

 

 

 

 

Fourth

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

Quarter

 

 

 

    

 

 

 

Quarter

 

 

 

    

 

 

 

Quarter

 

 

 

    

 

 

 

Quarter

 

 

 

 

 

 

 

 

 

Continuing Operations:

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Firmenstrategie

 

 

Consolidation – The accompanying consolidated financial statements include the accounts of B/E Aerospace, Inc. and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation.

 

 

RevenueRecognitionPolicyTextBlock

 

 

Revenue Recognition  Sales of products are recorded when the earnings process is complete. This generally occurs when the products are shipped to the customer in accordance with the contract or purchase order, risk of loss and title has passed to the customer, collectability is reasonably assured and pricing is fixed and determinable. In instances where title does not pass to the customer upon shipment, the Company recognizes revenue upon delivery or customer acceptance, depending on the terms of the sales contract.

 

Service revenues primarily consist of engineering activities and are recorded when services are performed. 

 

Revenues and costs under certain long-term contracts are recognized using contract accounting under the percentage-of-completion method in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 605-35, Construction–Type and Production–Type Contracts (“ASC 605-35”), with the majority of the contracts accounted for under the cost-to-cost method. Under the cost-to-cost method, the revenues related to the long-term contracts are recognized based on the ratio of actual costs incurred to total estimated costs to be incurred. The Company uses the units-of-delivery method to account for certain contracts. Under the units-of delivery method, revenues are recognized based on the contract price of units delivered.

 

The percentage-of-completion method requires the use of estimates of costs to complete long-term contracts. Due to the duration of these contracts as well as the technical nature of the products involved, the estimation of these costs requires management’s judgment in connection with assumptions and projections related to the outcome of future events. Management’s assumptions include future labor performance and rates and projections relative to material and overhead costs, as well as the quantity and timing of product deliveries. The Company reevaluates its contract estimates periodically and reflects changes in estimates in the current period using the cumulative catch-up method. There were no significant changes in our contract estimates during 2015, 2014 or 2013 that resulted in material cumulative catch-up adjustments to operating earnings other than cost estimate changes resulting from the extraordinary expedited development of a new product suite to support a major customer initiative during 2014. Revenues associated with any contractual claims are recognized when it is probable that the claim will result in additional contract revenue and the amount can be reasonably estimated. For the years ended December 31, 2015, 2014 and 2013, approximately 27.7%,  25.5% and 25.4% of our revenues, respectively, were derived from contracts accounted for using percentage-of-completion accounting. Net costs and estimated earnings in excess of billings on uncompleted contracts were $50.9 and $93.7 at December 31, 2015 and 2014, respectively, and recorded as work-in-process inventory. Capitalized development costs on long-term seller furnished equipment contracts were $438.1 and $320.6 at December 31, 2015 and 2014, respectively and recorded as work-in-process inventory. Anticipated losses on contracts are recognized in the period in which the losses become evident and determinable. Advance payments and engineering development costs on certain long-term contracts are deferred and included in revenues and research, development and engineering, respectively, when the products are shipped.

 

 

SegmentReportingDisclosureTextBlock

 

 

13.SEGMENT REPORTING

 

The Company is organized based on the products and services it offers. The Company’s reportable segments, which are also its operating segments, are comprised of commercial aircraft and business jet. Each segment regularly reports its results of operations and makes requests for capital expenditures and acquisition funding to the Company’s chief operational decision-making group (“CODM”). This group is comprised of the Executive Chairman of the Board of Directors, the President and Chief Executive Officer and the Vice President and Chief Financial Officer. Each operating segment has separate management teams and infrastructures dedicated to providing a full range of products and services to their commercial, business jet, military, maintenance, aircraft leasing and aircraft manufacturing customers. The Company has not included product line information due to the similarity of commercial aircraft segment product offerings. 

 

The following table presents revenues and other financial information by business segment:

 

 

 

 

 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Year Ended December 31, 2015

 
 

 

 
 

 

 
 

 

 
 

Commercial

 
 

 

 
 

Business

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

    

 
 

Aircraft

 
 

    

 
 

Jet

 
 

    

 
 

Consolidated

 
 

 

 
 

Revenues

 
 

 

 
 

$

 
2,098.3 
 

 

 
 

$

 
631.3 
 

    

 
 

$

 
2,729.6 
 

 

 
 

Operating earnings(1)

 
 

 

 
 

 

 
367.5 
 

 

 
 

 

 
84.8 
 

 

 
 

 

 
452.3 
 

 

 
 

Total assets(2)

 
 

 

 
 

 

 
2,120.5 
 

 

 
 

 

 
1,020.4 
 

 

 
 

 

 
3,140.9 
 

 

 
 

Goodwill

 
 

 

 
 

 

 
372.6 
 

 

 
 

 

 
440.6 
 

 

 
 

 

 
813.2 
 

 

 
 

Capital expenditures(3)

 
 

 

 
 

 

 
61.7 
 

 

 
 

 

 
18.8 
 

 

 
 

 

 
80.5 
 

 

 
 

Depreciation and amortization(3)

 
 

 

 
 

 

 
63.1 
 

 

 
 

 

 
22.2 
 

 

 
 

 

 
85.3 
 

 

 

 

 

 

EarningsPerSharePolicyTextBlock

 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Year Ended December 31, 2014

 
 

 

 
 

 

 
 

Commercial

 
 

 

 
 

Business

 
 

 

 
 

 

 
 

 

 
 

 

 
 

    

 
 

Aircraft

 
 

    

 
 

Jet

 
 

    

 
 

Consolidated

 
 

Revenues

 
 

 

 
 

$

 
2,058.9 
 

 

 
 

$

 
540.1 
 

    

 
 

$

 
2,599.0 
 

Operating earnings excluding KLX corporate allocations (1)

 
 

 

 
 

 

 
356.3 
 

 

 
 

 

 
50.0 
 

 

 
 

 

 
406.3 
 

KLX corporate allocations

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
(22.3) 
 

Operating earnings

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
384.0 
 

Total assets(2)

 
 

 

 
 

 

 
2,129.5 
 

 

 
 

 

 
1,043.6