2024 Q2 Form 10-K Financial Statement

#000164697224000060 Filed on April 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2024
Revenue $24.27B $18.34B $79.24B
YoY Change 0.89% 0.41% 2.05%
Cost Of Revenue $17.53B $13.20B $57.19B
YoY Change 0.8% 0.11% 2.32%
Gross Profit $6.739B $5.144B $22.05B
YoY Change 1.14% 1.18% 1.33%
Gross Profit Margin 27.77% 28.05% 27.82%
Selling, General & Admin $5.661B $4.266B $19.93B
YoY Change 3.75% -1.24% 11.04%
% of Gross Profit 84.01% 82.92% 90.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $552.0M $419.1M $1.334B
YoY Change 4.03% -1.67% -26.17%
% of Gross Profit 8.19% 8.15% 6.05%
Operating Expenses $6.174B $4.653B $19.93B
YoY Change 3.67% -1.26% 1.72%
Operating Profit $564.7M $491.4M $2.069B
YoY Change -20.14% 32.03% -4.2%
Interest Expense -$144.8M -$109.8M -$507.0M
YoY Change 1.61% 19.87% 25.31%
% of Operating Profit -25.64% -22.34% -24.51%
Other Income/Expense, Net -$4.000M -$2.400M $12.20M
YoY Change -172.73% -125.26% -63.03%
Pretax Income $309.9M $314.8M $1.589B
YoY Change -35.88% -10.44% -17.9%
Income Tax $69.20M $64.30M $293.0M
% Of Pretax Income 22.33% 20.43% 18.44%
Net Earnings $240.7M $250.5M $1.296B
YoY Change -42.21% -19.48% -14.37%
Net Earnings / Revenue 0.99% 1.37% 1.64%
Basic Earnings Per Share $2.25
Diluted Earnings Per Share $0.41 $0.43 $2.23
COMMON SHARES
Basic Shares Outstanding 577.4M shares 576.0M shares 575.4M shares
Diluted Shares Outstanding 581.1M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $291.1M $212.0M $212.0M
YoY Change 19.21% -53.49% -53.49%
Cash & Equivalents $291.1M $188.7M $188.7M
Short-Term Investments $23.30M $23.30M
Other Short-Term Assets $387.4M $58.90M $405.9M
YoY Change 34.89% -82.93% 17.65%
Inventory $4.720B $4.945B $4.945B
Prepaid Expenses $370.3M
Receivables $809.4M $724.4M $724.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.208B $6.288B $6.288B
YoY Change 2.43% 0.27% 0.27%
LONG-TERM ASSETS
Property, Plant & Equipment $15.53B $15.55B $15.55B
YoY Change 1.9% 2.06% 2.06%
Goodwill $1.201B $1.201B
YoY Change 0.0% 0.0%
Intangibles $2.415B $2.435B
YoY Change -2.34% -1.25%
Long-Term Investments $107.3M $78.20M $107.3M
YoY Change 2.09% -68.73% 8.06%
Other Assets $725.2M $746.2M $638.9M
YoY Change -1.91% -24.9% -35.7%
Total Long-Term Assets $19.87B $19.93B $19.93B
YoY Change 0.57% 0.18% 0.18%
TOTAL ASSETS
Total Short-Term Assets $6.208B $6.288B $6.288B
Total Long-Term Assets $19.87B $19.93B $19.93B
Total Assets $26.08B $26.22B $26.22B
YoY Change 1.01% 0.2% 0.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.898B $4.218B $4.218B
YoY Change -2.87% 1.08% 1.08%
Accrued Expenses $1.871B $2.306B $2.306B
YoY Change 2.94% -2.49% -2.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $82.60M $285.2M $285.2M
YoY Change -85.61% -73.49% -73.49%
Total Short-Term Liabilities $7.066B $7.458B $7.458B
YoY Change -8.51% -11.52% -11.52%
LONG-TERM LIABILITIES
Long-Term Debt $7.775B $7.783B $7.783B
YoY Change -0.64% -0.65% -0.65%
Other Long-Term Liabilities $1.958B $1.032B $7.425B
YoY Change -73.73% -86.05% 0.41%
Total Long-Term Liabilities $1.958B $1.032B $15.21B
YoY Change -87.18% -93.22% -0.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.066B $7.458B $7.458B
Total Long-Term Liabilities $1.958B $1.032B $15.21B
Total Liabilities $9.024B $8.490B $23.47B
YoY Change -62.11% -65.37% -4.24%
SHAREHOLDERS EQUITY
Retained Earnings $998.4M $828.2M
YoY Change 525.56% -547.68%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.913B $2.748B $2.748B
YoY Change
Total Liabilities & Shareholders Equity $26.08B $26.22B $26.22B
YoY Change 1.01% 0.2% 0.2%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2024
OPERATING ACTIVITIES
Net Income $240.7M $250.5M $1.296B
YoY Change -42.21% -19.48% -14.37%
Depreciation, Depletion And Amortization $552.0M $419.1M $1.334B
YoY Change 4.03% -1.67% -26.17%
Cash From Operating Activities $960.9M $928.7M $2.660B
YoY Change 14.62% 18.77% -6.81%
INVESTING ACTIVITIES
Capital Expenditures $543.0M $496.3M $2.031B
YoY Change -12.77% -15.45% -5.69%
Acquisitions $0.00
YoY Change
Other Investing Activities $5.000M $78.40M -$67.00M
YoY Change -97.03% -11.31% -137.94%
Cash From Investing Activities -$538.0M -$417.9M -$1.747B
YoY Change 18.53% -16.19% -11.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $950.8M
YoY Change -17.38%
Cash From Financing Activities -320.8M -544.8M -$1.183B
YoY Change -47.84% -87.15% -64.84%
NET CHANGE
Cash From Operating Activities 960.9M 928.7M $2.660B
Cash From Investing Activities -538.0M -417.9M -$1.747B
Cash From Financing Activities -320.8M -544.8M -$1.183B
Net Change In Cash 102.1M -34.00M -$270.6M
YoY Change -144.28% -99.14% -89.13%
FREE CASH FLOW
Cash From Operating Activities $960.9M $928.7M $2.660B
Capital Expenditures $543.0M $496.3M $2.031B
Free Cash Flow $417.9M $432.4M $628.2M
YoY Change 93.65% 121.86% -10.26%

Facts In Submission

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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Fiscal year: </span>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.
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<div style="text-align:justify"><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></div>
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CY2024Q1 us-gaap Finance Lease Liability Payments Due
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CY2024Q1 aci Unrecognized Tax Benefits Indemnification Assets That Would Impact Effective Tax Rate
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CY2022 us-gaap Defined Benefit Plan Assets Transferred To From Plan
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CY2024 us-gaap Defined Benefit Plan Contributions By Employer
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CY2023 us-gaap Defined Benefit Plan Contributions By Employer
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CY2022 us-gaap Defined Benefit Plan Contributions By Employer
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CY2024Q1 us-gaap Defined Benefit Plan Expected Future Employer Contributions Next Fiscal Year
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CY2024Q1 aci Multiemployer Plan Number Of Plans
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CY2021Q1 aci Defined Benefit Plan Expected Future Employer Contributions After Tax
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CY2022Q3 aci Multiemployer Plan Pension Additional Funding
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CY2020Q3 aci Number Of Local Unions Ratifying The Agreement
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CY2024Q1 aci Number Of Total Company Employees
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CY2024Q1 aci Multiemployer Plans Collective Bargaining Arrangement Number Of Participants Renegotiated
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CY2024Q1 aci Multiemployer Plans Collective Bargaining Arrangement Number Of Participants Scheduled To Expire
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CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
89300000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
75500000 usd
CY2024Q1 aci Accrued Retention Bonus Expense
AccruedRetentionBonusExpense
35000000 usd
CY2023Q1 aci Accrued Retention Bonus Expense
AccruedRetentionBonusExpense
5300000 usd
CY2024 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
31200000 usd
CY2024 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
5900000 usd
CY2024 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
6600000 usd
CY2024 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
18700000 usd
CY2023 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
200000 usd
CY2023 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
500000 usd
CY2023 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-600000 usd
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
300000 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
1296000000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
1513500000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
1619600000 usd
CY2024 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 usd
CY2023 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
252200000 usd
CY2022 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 usd
CY2024 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
300000 usd
CY2023 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
51000000.0 usd
CY2022 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
109400000 usd
CY2024 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
700000 usd
CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 usd
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
226200000 usd
CY2024 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1295000000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1210300000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1284000000 usd
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
575400000 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
529000000.0 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
469600000 shares
CY2024 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.25
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.29
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.73
CY2024 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1295000000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1210300000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1284000000 usd
CY2024 us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
0 usd
CY2023 us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
0 usd
CY2022 us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
0 usd
CY2024 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
CY2024 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1295000000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1210300000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1284000000 usd
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
575400000 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
529000000.0 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
469600000 shares
CY2024 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 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
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
581100000 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
CY2024 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.23
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.27
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.70
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024 dei Auditor Firm
AuditorFirmId
34

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0001646972-24-000060.txt Edgar Link pending
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aci-20240224.htm Edgar Link pending
aci-20240224.xsd Edgar Link pending
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aci-20240224_cal.xml Edgar Link unprocessable