2023 Q1 Form 10-K Financial Statement

#000142368923000017 Filed on February 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $320.0M $897.0M -$491.0M
YoY Change -153.07% 11112.5% -153.84%
Cost Of Revenue $449.0M $322.0M $625.0M
YoY Change 1562.96% 2046.67% 733.33%
Gross Profit -$129.0M $575.0M -$1.116B
YoY Change -79.52% -8314.29% -233.33%
Gross Profit Margin -40.31% 64.1%
Selling, General & Admin $14.00M $5.000M $41.00M
YoY Change 7.69% -58.33% -24.07%
% of Gross Profit 0.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $22.00M $14.00M $74.00M
YoY Change 4.76% -30.0% -15.91%
Operating Profit -$151.0M $561.0M -$1.190B
YoY Change -76.8% -2177.78% -258.88%
Interest Expense $449.0M $625.0M
YoY Change 1562.96% 733.33%
% of Operating Profit
Other Income/Expense, Net -$31.00M -$2.081B
YoY Change -97.12% 363.47%
Pretax Income -$151.0M $561.0M -$1.190B
YoY Change -76.8% -2177.78% -258.88%
Income Tax
% Of Pretax Income
Net Earnings -$151.0M $532.0M -$1.190B
YoY Change -76.8% -2070.37% -258.88%
Net Earnings / Revenue -47.19% 59.31%
Basic Earnings Per Share -$0.31 -$2.41
Diluted Earnings Per Share -$0.31 $0.94 -$2.41
COMMON SHARES
Basic Shares Outstanding 574.7M shares 571.6M shares 537.0M shares
Diluted Shares Outstanding 579.3M shares 537.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $975.0M $1.018B $1.018B
YoY Change -2.89% 2.0% 2.0%
Cash & Equivalents $975.0M $1.018B $1.018B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $346.0M $120.0M $120.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.321B $1.138B $1.138B
YoY Change -60.22% 14.03% 14.03%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $526.0M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $61.94B $47.90B $47.90B
YoY Change 2.51% -26.72% -26.72%
Other Assets $1.864B $1.316B $1.316B
YoY Change 71.48% 149.72% 149.72%
Total Long-Term Assets $64.79B $50.61B $50.61B
YoY Change 2.72% -24.63% -24.63%
TOTAL ASSETS
Total Short-Term Assets $1.321B $1.138B $1.138B
Total Long-Term Assets $64.79B $50.61B $50.61B
Total Assets $66.11B $51.75B $51.75B
YoY Change -0.43% -24.07% -24.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $547.0M $486.0M $486.0M
YoY Change -26.38% 21.5% 21.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $48.38B $36.26B $36.26B
YoY Change 8.21% -23.47% -23.47%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $49.03B $37.15B $37.15B
YoY Change 5.67% -22.52% -22.52%
LONG-TERM LIABILITIES
Long-Term Debt $92.00M $95.00M $95.00M
YoY Change -20.69% -24.6% -24.6%
Other Long-Term Liabilities $9.195B $6.633B $6.633B
YoY Change -15.99% -32.2% -32.2%
Total Long-Term Liabilities $9.287B $6.728B $6.728B
YoY Change -16.04% -32.1% -32.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $49.03B $37.15B $37.15B
Total Long-Term Liabilities $9.287B $6.728B $6.728B
Total Liabilities $58.32B $43.88B $43.88B
YoY Change 1.49% -24.16% -24.16%
SHAREHOLDERS EQUITY
Retained Earnings -$7.674B -$7.284B
YoY Change 26.26% 39.7%
Common Stock $6.000M $6.000M
YoY Change 20.0% 20.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.792B $7.870B $7.870B
YoY Change
Total Liabilities & Shareholders Equity $66.11B $51.75B $51.75B
YoY Change -0.43% -24.07% -24.07%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$151.0M $532.0M -$1.190B
YoY Change -76.8% -2070.37% -258.88%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $26.00M $94.00M $1.013B
YoY Change -92.99% -75.0% -34.22%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$11.57B $3.168B $11.19B
YoY Change -475.56% -460.41% 191.66%
Cash From Investing Activities -$11.57B $3.168B $11.19B
YoY Change -475.56% -460.41% 191.66%
FINANCING ACTIVITIES
Cash Dividend Paid $238.0M $869.0M
YoY Change 11.74% 1.05%
Common Stock Issuance & Retirement, Net -$475.0M
YoY Change -269.04%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $12.05B -4.090B -$11.39B
YoY Change -517.53% -801.54% 84.49%
NET CHANGE
Cash From Operating Activities $26.00M 94.00M $1.013B
Cash From Investing Activities -$11.57B 3.168B $11.19B
Cash From Financing Activities $12.05B -4.090B -$11.39B
Net Change In Cash $505.0M -828.0M $809.0M
YoY Change -10.78% -1135.0% -201.25%
FREE CASH FLOW
Cash From Operating Activities $26.00M $94.00M $1.013B
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 us-gaap Basis Of Accounting
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Basis of Presentation and ConsolidationOur consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). Our consolidated financial statements include the accounts of all subsidiaries and variable interest entities for which we are the primary beneficiary. Significant intercompany accounts and transactions have been eliminated.
CY2022 us-gaap Use Of Estimates
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span>The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Actual results could differ from those estimates
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CY2021Q4 agnc Interest Rate Swaps Linkedto Secured Overnight Financing Rate
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CY2022Q4 agnc Securities Owned And Pledged As Collateral Fair Value
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CY2022Q4 agnc Agency Securities Pledged As Collateral Amortized Cost
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CY2022Q4 agnc Agency Securities Pledged As Collateral Accrued Interest
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CY2022Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
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CY2021Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
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CY2022Q4 us-gaap Other Long Term Debt
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CY2022Q4 agnc Obligation To Return Securities Borrowed Under Reverse Repurchase Agreements At Fair Value
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CY2021Q4 agnc Obligation To Return Securities Borrowed Under Reverse Repurchase Agreements At Fair Value
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CY2022Q4 agnc Net Fair Value Of Interest Rate Swaps Excluding The Recognition Of Variation Margin Settlements As A Reduction Of Carrying Value
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CY2021Q4 agnc Net Fair Value Of Interest Rate Swaps Excluding The Recognition Of Variation Margin Settlements As A Reduction Of Carrying Value
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CY2022 agnc Weighted Average Numberof Shares Outstanding
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CY2021 agnc Weighted Average Numberof Shares Outstanding
WeightedAverageNumberofSharesOutstanding
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CY2020 agnc Weighted Average Numberof Shares Outstanding
WeightedAverageNumberofSharesOutstanding
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CY2022 agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
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CY2021 agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
WeightedAverageNumberofFullyVestedRestrictedStockUnitsandPerformanceShareUnitsOutstanding
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CY2020 agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q4 us-gaap Preferred Stock Shares Authorized
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CY2022Q4 agnc Preferred Stock C Value Issued
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CY2022Q4 agnc Preferred Stock C Liquidation Preference Value
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CY2022Q4 agnc Preferred Stock D Value Issued
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CY2022Q4 agnc Preferred Stock D Liquidation Preference Value
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CY2019Q4 agnc Preferred Stock E Value Issued
PreferredStockEValueIssued
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CY2019Q4 agnc Preferred Stock E Liquidation Preference Value
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CY2020Q1 agnc Preferred Stock F Value Issued
PreferredStockFValueIssued
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CY2020Q1 agnc Preferred Stock G Value Issued
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CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
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CY2022Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
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CY2022Q4 agnc Commonstock Valueof Shares Remainingfor Future Issuance
CommonstockValueofSharesRemainingforFutureIssuance
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CY2022 agnc Stock Issued During Period Price Per Share
StockIssuedDuringPeriodPricePerShare
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CY2022 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2022 us-gaap Stock Issued During Period Value New Issues
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StockIssuedDuringPeriodPricePerShare
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CY2022Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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CY2022 agnc Stock Repurchased During Period Average Repurchase Priceindollarspershare
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CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2021 agnc Stock Repurchased During Period Average Repurchase Priceindollarspershare
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CY2021 us-gaap Stock Repurchased During Period Shares
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CY2021 us-gaap Stock Repurchased During Period Value
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CY2020 agnc Stock Repurchased During Period Average Repurchase Priceindollarspershare
StockRepurchasedDuringPeriodAverageRepurchasePriceindollarspershare
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CY2020 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2020 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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CY2021 agnc Stock Repurchased During Period Settled After Period Value
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CY2021 agnc Stock Repurchased During Period Settled After Shares
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CY2022 us-gaap Dividends Common Stock
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CY2022 us-gaap Common Stock Dividends Per Share Declared
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CY2021 us-gaap Common Stock Dividends Per Share Declared
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CY2020 us-gaap Dividends Common Stock
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CY2020 us-gaap Common Stock Dividends Per Share Declared
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CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2022 agnc Ordinary Dividends Per Share
OrdinaryDividendsPerShare
0.669420
CY2022 agnc Non Dividend Distributions Per Share
NonDividendDistributionsPerShare
0.770580
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.320000
CY2021 agnc Ordinary Dividends Per Share
OrdinaryDividendsPerShare
0.095930
CY2020 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.720000
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OrdinaryDividendsPerShare
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CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
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CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P1Y9M18D

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