2022 Q1 Form 10-Q Financial Statement

#000157924122000041 Filed on April 26, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $723.6M $694.3M
YoY Change 4.22% 2.9%
Cost Of Revenue $434.9M $396.9M
YoY Change 9.57% 4.01%
Gross Profit $288.7M $297.4M
YoY Change -2.93% 1.47%
Gross Profit Margin 39.9% 42.83%
Selling, General & Admin $171.7M $166.1M
YoY Change 3.37% -1.07%
% of Gross Profit 59.47% 55.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.40M $21.40M
YoY Change -4.67% 8.08%
% of Gross Profit 7.07% 7.2%
Operating Expenses $171.7M $166.1M
YoY Change 3.37% -1.07%
Operating Profit $117.0M $131.3M
YoY Change -10.89% 354.33%
Interest Expense $11.90M $12.30M
YoY Change -3.25% -4.65%
% of Operating Profit 10.17% 9.37%
Other Income/Expense, Net $2.200M $3.500M
YoY Change -37.14% -187.5%
Pretax Income $107.3M $122.5M
YoY Change -12.41% 920.83%
Income Tax $14.20M $14.30M
% Of Pretax Income 13.23% 11.67%
Net Earnings $93.00M $108.0M
YoY Change -13.89% 26900.0%
Net Earnings / Revenue 12.85% 15.56%
Basic Earnings Per Share $1.05 $1.19
Diluted Earnings Per Share $1.05 $1.18
COMMON SHARES
Basic Shares Outstanding 88.20M shares 90.70M shares
Diluted Shares Outstanding 88.60M shares 91.20M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $305.1M $394.3M
YoY Change -22.62% 60.74%
Cash & Equivalents $305.1M $394.3M
Short-Term Investments
Other Short-Term Assets $45.00M $51.20M
YoY Change -12.11% -6.4%
Inventory $402.9M $289.9M
Prepaid Expenses
Receivables $324.3M $312.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.077B $1.048B
YoY Change 2.8% 13.67%
LONG-TERM ASSETS
Property, Plant & Equipment $280.8M $285.7M
YoY Change -1.72% -1.21%
Goodwill $796.4M $807.8M
YoY Change -1.41% 4.5%
Intangibles $434.0M $467.4M
YoY Change -7.15% -3.69%
Long-Term Investments
YoY Change
Other Assets $419.1M $339.0M
YoY Change 23.63% 17.63%
Total Long-Term Assets $1.930B $1.900B
YoY Change 1.6% 3.5%
TOTAL ASSETS
Total Short-Term Assets $1.077B $1.048B
Total Long-Term Assets $1.930B $1.900B
Total Assets $3.008B $2.948B
YoY Change 2.03% 6.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $258.4M $209.8M
YoY Change 23.16% 5.59%
Accrued Expenses $310.5M $295.7M
YoY Change 5.01% 16.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $12.60M $100.0K
YoY Change 12500.0% -97.06%
Total Short-Term Liabilities $581.5M $505.6M
YoY Change 15.01% 10.71%
LONG-TERM LIABILITIES
Long-Term Debt $1.427B $1.430B
YoY Change -0.21% 0.13%
Other Long-Term Liabilities $254.3M $281.5M
YoY Change -9.66% 8.6%
Total Long-Term Liabilities $1.681B $1.711B
YoY Change -1.76% 1.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $581.5M $505.6M
Total Long-Term Liabilities $1.681B $1.711B
Total Liabilities $2.263B $2.217B
YoY Change 2.06% 3.41%
SHAREHOLDERS EQUITY
Retained Earnings $956.1M $915.9M
YoY Change 4.39% 6.28%
Common Stock $900.0K $900.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $741.6M $727.7M
YoY Change
Total Liabilities & Shareholders Equity $3.008B $2.948B
YoY Change 2.03% 6.9%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $93.00M $108.0M
YoY Change -13.89% 26900.0%
Depreciation, Depletion And Amortization $20.40M $21.40M
YoY Change -4.67% 8.08%
Cash From Operating Activities $20.50M $111.8M
YoY Change -81.66% 262.99%
INVESTING ACTIVITIES
Capital Expenditures -$8.700M -$6.300M
YoY Change 38.1% -46.61%
Acquisitions
YoY Change
Other Investing Activities -$2.400M -$1.700M
YoY Change 41.18% -124.29%
Cash From Investing Activities -$6.300M -$4.600M
YoY Change 36.96% -75.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $61.00M $149.7M
YoY Change -59.25% 59.09%
Debt Paid & Issued, Net $3.100M
YoY Change
Cash From Financing Activities -$104.9M -$187.2M
YoY Change -43.96% 60.27%
NET CHANGE
Cash From Operating Activities $20.50M $111.8M
Cash From Investing Activities -$6.300M -$4.600M
Cash From Financing Activities -$104.9M -$187.2M
Net Change In Cash -$92.80M -$86.10M
YoY Change 7.78% -21.73%
FREE CASH FLOW
Cash From Operating Activities $20.50M $111.8M
Capital Expenditures -$8.700M -$6.300M
Free Cash Flow $29.20M $118.1M
YoY Change -75.28% 177.23%

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4400000 USD
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0 USD
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CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
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1100000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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9800000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2705
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0189
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0075
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
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CY2022Q1 us-gaap Restructuring Charges
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100000 USD
CY2022Q1 us-gaap Investment Income Interest
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100000 USD
CY2021Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
0 USD
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ForeignCurrencyTransactionGainLossBeforeTax
-1000000.0 USD
CY2021Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2022Q1 us-gaap Income Loss From Equity Method Investments
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100000 USD
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-2600000 USD
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NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-1900000 USD
CY2022Q1 alle Miscellaneous Other Nonoperating Income Expense
MiscellaneousOtherNonoperatingIncomeExpense
400000 USD
CY2021Q1 alle Miscellaneous Other Nonoperating Income Expense
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2700000 USD
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2200000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
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3500000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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300000 shares
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2 segment
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CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2022Q1 us-gaap Interest Expense
InterestExpense
11900000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
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CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2200000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3500000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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107300000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
122500000 USD
CY2022Q1 us-gaap Accrual For Environmental Loss Contingencies
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15400000 USD
CY2021Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
16400000 USD
CY2022Q1 us-gaap Accrued Environmental Loss Contingencies Current
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3100000 USD
CY2021Q4 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
3700000 USD
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
17700000 USD
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
16500000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2400000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1800000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3100000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3500000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
0 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
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CY2022Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
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CY2021Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-100000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
18300000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
18000000.0 USD

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