$AGCO
AGCO CORP /DE

2024 Q2 Form 10-Q Financial Statement

#000162828024020216 Filed on May 03, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $3.247B $2.929B
YoY Change -15.07% -12.14%
Cost Of Revenue $2.409B $2.159B
YoY Change -14.48% -12.9%
Gross Profit $837.5M $769.8M
YoY Change -16.72% -9.95%
Gross Profit Margin 25.8% 26.28%
Selling, General & Admin $874.4M $350.4M
YoY Change 149.61% 5.61%
% of Gross Profit 104.41% 45.52%
Research & Development $137.8M $130.9M
YoY Change -0.72% 9.45%
% of Gross Profit 16.45% 17.0%
Depreciation & Amortization $96.90M $63.30M
YoY Change 37.25% -7.46%
% of Gross Profit 11.57% 8.22%
Operating Expenses $1.044B $350.4M
YoY Change 107.45% -24.84%
Operating Profit -$206.4M $273.6M
YoY Change -141.07% -29.61%
Interest Expense -$29.90M -$24.90M
YoY Change 415.52% 4880.0%
% of Operating Profit -9.1%
Other Income/Expense, Net -$65.30M -$50.80M
YoY Change -16.28% 0.79%
Pretax Income -$336.9M $220.9M
YoY Change -181.65% -34.33%
Income Tax $41.60M $69.10M
% Of Pretax Income 31.28%
Net Earnings -$367.1M $168.0M
YoY Change -215.01% -27.77%
Net Earnings / Revenue -11.31% 5.74%
Basic Earnings Per Share -$4.92 $2.25
Diluted Earnings Per Share -$4.92 $2.25
COMMON SHARES
Basic Shares Outstanding 74.62M shares 74.62M shares
Diluted Shares Outstanding 74.70M shares 74.70M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $657.3M $2.456B
YoY Change 41.81% 339.56%
Cash & Equivalents $657.3M $2.456B
Short-Term Investments
Other Short-Term Assets $1.016B $594.2M
YoY Change 35.99% -0.4%
Inventory $3.499B $3.782B
Prepaid Expenses
Receivables $1.466B $1.542B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.639B $8.374B
YoY Change -1.61% 32.32%
LONG-TERM ASSETS
Property, Plant & Equipment $1.971B $2.062B
YoY Change 3.2% 12.69%
Goodwill $2.408B $1.326B
YoY Change 81.45% 0.25%
Intangibles $689.9M $291.6M
YoY Change 102.32% -17.63%
Long-Term Investments $518.3M $520.5M
YoY Change 2.19% 14.02%
Other Assets $1.390B $396.4M
YoY Change 147.08% -23.81%
Total Long-Term Assets $7.020B $5.086B
YoY Change 51.06% 13.45%
TOTAL ASSETS
Total Short-Term Assets $6.639B $8.374B
Total Long-Term Assets $7.020B $5.086B
Total Assets $13.66B $13.46B
YoY Change 19.87% 24.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.076B $1.238B
YoY Change -22.67% -13.22%
Accrued Expenses $2.543B $2.489B
YoY Change 4.0% 16.08%
Deferred Revenue
YoY Change
Short-Term Debt $51.70M $28.70M
YoY Change -7.68% 485.71%
Long-Term Debt Due $320.2M $271.7M
YoY Change 67.56% 42.55%
Total Short-Term Liabilities $4.364B $4.213B
YoY Change 1.42% 5.75%
LONG-TERM LIABILITIES
Long-Term Debt $3.595B $3.426B
YoY Change 78.49% 91.26%
Other Long-Term Liabilities $986.0M $645.4M
YoY Change 19.92% -18.1%
Total Long-Term Liabilities $4.581B $4.071B
YoY Change 61.51% 57.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.364B $4.213B
Total Long-Term Liabilities $4.581B $4.071B
Total Liabilities $9.605B $8.705B
YoY Change 32.38% 30.33%
SHAREHOLDERS EQUITY
Retained Earnings $5.931B $6.506B
YoY Change 2.48% 10.95%
Common Stock $9.900M $700.0K
YoY Change -73.1% -97.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.054B $4.755B
YoY Change
Total Liabilities & Shareholders Equity $13.66B $13.46B
YoY Change 19.87% 24.49%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$367.1M $168.0M
YoY Change -215.01% -27.77%
Depreciation, Depletion And Amortization $96.90M $63.30M
YoY Change 37.25% -7.46%
Cash From Operating Activities $235.5M -$370.0M
YoY Change 22.59% -33.58%
INVESTING ACTIVITIES
Capital Expenditures $98.00M $95.00M
YoY Change -12.26% -24.18%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$1.901B $0.00
YoY Change 6916.24% -100.0%
Cash From Investing Activities -$1.999B -$94.80M
YoY Change 1340.49% -26.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.600M $2.337B
YoY Change -98.74% 406.28%
NET CHANGE
Cash From Operating Activities 235.5M -$370.0M
Cash From Investing Activities -1.999B -$94.80M
Cash From Financing Activities -1.600M $2.337B
Net Change In Cash -1.765B $1.860B
YoY Change 2292.28% -929.38%
FREE CASH FLOW
Cash From Operating Activities $235.5M -$370.0M
Capital Expenditures $98.00M $95.00M
Free Cash Flow $137.5M -$465.0M
YoY Change 71.02% -31.86%

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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q1 us-gaap Finance Lease Liability Payments Due
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CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
31300000 usd
CY2024Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
29500000 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2000000.0 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
178900000 usd
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
5800000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
179800000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5900000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
310700000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
239000000.0 usd
CY2024Q1 agco Contract With Customer Liability Increase From Advance Consideration Received
ContractWithCustomerLiabilityIncreaseFromAdvanceConsiderationReceived
52500000 usd
CY2023Q1 agco Contract With Customer Liability Increase From Advance Consideration Received
ContractWithCustomerLiabilityIncreaseFromAdvanceConsiderationReceived
58500000 usd
CY2024Q1 agco Contract With Customer Liability Foreign Currency Translation Gain Loss
ContractWithCustomerLiabilityForeignCurrencyTranslationGainLoss
4800000 usd
CY2023Q1 agco Contract With Customer Liability Foreign Currency Translation Gain Loss
ContractWithCustomerLiabilityForeignCurrencyTranslationGainLoss
-3000000.0 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
321500000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
259600000 usd
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
33200000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
35700000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
91300000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
101900000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
63200000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
32600000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
14700000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2928700000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2928700000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3333500000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3333500000 usd
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segment
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
273600000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
387300000 usd
CY2024Q1 us-gaap Assets
Assets
13459900000 usd
CY2023Q4 us-gaap Assets
Assets
11421200000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001628280-24-020216.txt Edgar Link pending
0001628280-24-020216-xbrl.zip Edgar Link pending
agco-20240331.htm Edgar Link pending
agco-20240331.xsd Edgar Link pending
agcoex101-q12024.htm Edgar Link pending
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