2023 Q2 Form 10-K Financial Statement

#000164697223000045 Filed on April 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2023
Revenue $24.05B $18.27B $77.65B
YoY Change 3.17% 5.07% 8.02%
Cost Of Revenue $17.39B $13.18B $55.89B
YoY Change 3.71% 6.3% 9.24%
Gross Profit $6.663B $5.084B $21.76B
YoY Change 1.8% 2.01% 4.99%
Gross Profit Margin 27.7% 27.84% 28.02%
Selling, General & Admin $5.456B $4.319B $17.95B
YoY Change 1.64% 9.28% -1.91%
% of Gross Profit 81.89% 84.96% 82.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $530.6M $426.2M $1.807B
YoY Change -3.12% 4.44% 29.82%
% of Gross Profit 7.96% 8.38% 8.31%
Operating Expenses $5.956B $4.712B $19.60B
YoY Change 1.56% 9.03% 7.08%
Operating Profit $707.1M $372.2M $2.160B
YoY Change 3.88% -43.83% -11.38%
Interest Expense -$142.5M -$91.60M -$404.6M
YoY Change 2.59% -15.19% -16.54%
% of Operating Profit -20.15% -24.61% -18.73%
Other Income/Expense, Net $5.500M $9.500M $33.00M
YoY Change -12.7% -80.0% -77.73%
Pretax Income $483.3M $351.5M $1.936B
YoY Change -22.98% -41.79% -7.81%
Income Tax $66.10M $40.40M $422.0M
% Of Pretax Income 13.68% 11.49% 21.8%
Net Earnings $416.5M $311.1M $1.514B
YoY Change -13.98% -31.64% -6.55%
Net Earnings / Revenue 1.73% 1.7% 1.95%
Basic Earnings Per Share $2.29
Diluted Earnings Per Share $0.72 $0.54 $2.83
COMMON SHARES
Basic Shares Outstanding 574.0M shares 535.7M shares 529.0M shares
Diluted Shares Outstanding 534.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $244.2M $455.8M $455.8M
YoY Change -92.4% -84.29% -84.29%
Cash & Equivalents $225.2M $455.8M $455.8M
Short-Term Investments $19.00M $21.40M $21.40M
Other Short-Term Assets $287.2M $345.0M $345.0M
YoY Change -12.06% -14.39% -14.39%
Inventory $4.845B $4.782B $4.782B
Prepaid Expenses $302.7M
Receivables $684.3M $687.6M $687.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.061B $6.270B $6.270B
YoY Change -30.16% -25.05% -25.05%
LONG-TERM ASSETS
Property, Plant & Equipment $15.24B $15.24B $15.24B
YoY Change 68.01% 62.98% -0.13%
Goodwill $1.201B $1.201B
YoY Change 0.0% 0.0%
Intangibles $2.473B $2.465B
YoY Change 7.08% 7.89%
Long-Term Investments $105.1M $250.1M $99.30M
YoY Change 0.89%
Other Assets $739.3M $993.6M $993.6M
YoY Change -29.78% -1.88% -1.88%
Total Long-Term Assets $19.76B $19.90B $19.90B
YoY Change 1.1% 0.71% 0.71%
TOTAL ASSETS
Total Short-Term Assets $6.061B $6.270B $6.270B
Total Long-Term Assets $19.76B $19.90B $19.90B
Total Assets $25.82B $26.17B $26.17B
YoY Change -8.51% -6.95% -6.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.013B $4.173B $4.173B
YoY Change 1.08% -1.5% -1.5%
Accrued Expenses $1.818B $2.365B $2.365B
YoY Change -8.95% -6.91% -6.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $574.2M $1.076B $1.076B
YoY Change -30.43% 29.79% 29.79%
Total Short-Term Liabilities $7.723B $8.429B $8.429B
YoY Change -2.39% 0.96% 0.96%
LONG-TERM LIABILITIES
Long-Term Debt $7.825B $7.834B $7.834B
YoY Change 9.88% 9.78% 9.78%
Other Long-Term Liabilities $7.453B $7.395B $7.395B
YoY Change 242.44% 249.56% -1.87%
Total Long-Term Liabilities $15.28B $15.23B $15.23B
YoY Change 601.98% 619.91% 3.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.723B $8.429B $8.429B
Total Long-Term Liabilities $15.28B $15.23B $15.23B
Total Liabilities $23.82B $24.51B $24.51B
YoY Change 136.08% 134.25% 2.9%
SHAREHOLDERS EQUITY
Retained Earnings $159.6M -$185.0M
YoY Change -94.63% -107.21%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.000B $1.656B $1.656B
YoY Change
Total Liabilities & Shareholders Equity $25.82B $26.17B $26.17B
YoY Change -8.51% -6.95% -6.95%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2023
OPERATING ACTIVITIES
Net Income $416.5M $311.1M $1.514B
YoY Change -13.98% -31.64% -6.55%
Depreciation, Depletion And Amortization $530.6M $426.2M $1.807B
YoY Change -3.12% 4.44% 29.82%
Cash From Operating Activities $838.3M $781.9M $2.854B
YoY Change -15.49% 7.02% -18.77%
INVESTING ACTIVITIES
Capital Expenditures $622.5M $587.0M $2.154B
YoY Change -201.42% -250.47% -234.07%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $168.6M $88.40M $176.6M
YoY Change 170.19% 212.37% -529.68%
Cash From Investing Activities -$453.9M -$498.6M -$1.977B
YoY Change -17.68% 37.81% 28.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.151B
YoY Change 247.78%
Cash From Financing Activities -615.0M -4.240B -3.365B
YoY Change 374.9% 3217.53% 326.27%
NET CHANGE
Cash From Operating Activities 838.3M 781.9M 2.854B
Cash From Investing Activities -453.9M -498.6M -1.977B
Cash From Financing Activities -615.0M -4.240B -3.365B
Net Change In Cash -230.6M -3.957B -2.489B
YoY Change -174.15% -1741.7% -310.03%
FREE CASH FLOW
Cash From Operating Activities $838.3M $781.9M $2.854B
Capital Expenditures $622.5M $587.0M $2.154B
Free Cash Flow $215.8M $194.9M $700.0M
YoY Change -86.56% -82.61% -86.33%

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CY2023 aci Proceeds From Lease Buyouts
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CY2022 aci Payments To Acquire Property Plant And Equipment Excluding Payments For Lease Buyouts
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CY2021Q1 us-gaap Stockholders Equity
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CY2023 us-gaap Dividends Common Stock
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CY2023Q1 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized After Accumulated Amortization
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CY2023Q1 us-gaap Number Of Stores
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2271 store
CY2023 us-gaap Fiscal Period
FiscalPeriod
Fiscal year: The Company's fiscal year ends on the last Saturday in February. Unless the context otherwise indicates, reference to a fiscal year of the Company refers to the calendar year in which such fiscal year commences. The Company's first quarter consists of 16 weeks, the second, third and fourth quarters generally each consist of 12 weeks, and the fiscal year generally consists of 52 weeks.
CY2023 us-gaap Use Of Estimates
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Use of estimates: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The preparation of the Company's Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting periods presented. Certain estimates require difficult, subjective or complex judgments about matters that are inherently uncertain. Actual results could differ from those estimates.</span>
CY2023Q1 us-gaap Credit And Debit Card Receivables At Carrying Value
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CY2022 us-gaap Hosting Arrangement Service Contract Implementation Cost Expense Amortization
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38300000 usd
CY2023Q1 us-gaap Percentage Of Lifo Inventory
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CY2022Q1 us-gaap Percentage Of Lifo Inventory
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CY2022Q1 us-gaap Inventory Lifo Reserve
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2023 aci Deferred Tax Assets Valuation Allowance Increase Decrease To Other Comprehensive Income Loss
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CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
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CY2021 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
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CY2023Q1 aci Multiemployer Plan Number Of Plans
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27 plan
CY2022Q1 aci Defined Benefit Plan Expected Future Employer Contributions
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607200000 usd
CY2022Q1 aci Defined Benefit Plan Expected Future Employer Contributions After Tax
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CY2022Q3 aci Multiemployer Plan Pension Additional Funding
MultiemployerPlanPensionAdditionalFunding
120000000 usd
CY2020Q3 aci Number Of Local Unions Ratifying The Agreement
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CY2020Q3 aci Number Of Local Unions Ratifying The Agreement
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CY2023 us-gaap Defined Benefit Plan Benefit Obligation Payment For Settlement
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69200000 usd
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NumberOfTotalCompanyEmployees
290000 employee
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200000 employee
CY2023Q1 aci Multiemployer Plans Collective Bargaining Arrangement Number Of Participants Renegotiated
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CY2023Q1 aci Accrued Retention Bonus Expense
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5300000 usd
CY2023 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
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CY2023 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
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CY2021 us-gaap Net Income Loss
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PreferredStockDividendsAndOtherAdjustments
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CY2022 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
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CY2021 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
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CY2023 us-gaap Redeemable Preferred Stock Dividends
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51000000.0 usd
CY2022 us-gaap Redeemable Preferred Stock Dividends
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109400000 usd
CY2021 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
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CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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529000000.0 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Earnings Per Share Basic
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2.29
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764200000 usd
CY2023 us-gaap Convertible Preferred Dividends Net Of Tax
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CY2022 us-gaap Convertible Preferred Dividends Net Of Tax
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0 usd
CY2021 us-gaap Convertible Preferred Dividends Net Of Tax
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86000000.0 usd
CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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0 usd
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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0 usd
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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0 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
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1210300000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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1284000000 usd
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850200000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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529000000.0 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
469600000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
500300000 shares
CY2023 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2022 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
73700000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
534000000.0 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
475300000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
578100000 shares
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.27
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.70
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.47
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2800000 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2700000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1100000 shares
CY2023 dei Auditor Firm
AuditorFirmId
34

Files In Submission

Name View Source Status
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aci-20230225_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
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aci-20230225.xsd Edgar Link pending
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