2024 Q2 Form 10-Q Financial Statement

#000157924124000031 Filed on April 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $965.6M $893.9M
YoY Change 5.82% -3.15%
Cost Of Revenue $537.3M $502.5M
YoY Change 5.23% -5.55%
Gross Profit $428.3M $391.4M
YoY Change 6.57% 0.1%
Gross Profit Margin 44.36% 43.79%
Selling, General & Admin $219.3M $219.3M
YoY Change 2.24% -0.32%
% of Gross Profit 51.2% 56.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.70M $28.80M
YoY Change 12.87% 1.77%
% of Gross Profit 7.17% 7.36%
Operating Expenses $219.3M $219.3M
YoY Change 2.24% -0.32%
Operating Profit $209.0M $172.1M
YoY Change 11.53% 0.64%
Interest Expense $25.10M -$20.50M
YoY Change -210.09% -186.86%
% of Operating Profit 12.01% -11.91%
Other Income/Expense, Net $5.100M $1.300M
YoY Change 628.57% 333.33%
Pretax Income $189.0M $152.9M
YoY Change 16.31% 3.52%
Income Tax $33.60M $29.10M
% Of Pretax Income 17.78% 19.03%
Net Earnings $155.4M $123.8M
YoY Change 9.44% 0.24%
Net Earnings / Revenue 16.09% 13.85%
Basic Earnings Per Share $1.78 $1.41
Diluted Earnings Per Share $1.77 $1.41
COMMON SHARES
Basic Shares Outstanding 87.44M shares 87.55M shares
Diluted Shares Outstanding 87.70M shares 88.10M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $747.5M $391.8M
YoY Change 131.71% 33.81%
Cash & Equivalents $747.5M $391.8M
Short-Term Investments
Other Short-Term Assets $49.60M $50.20M
YoY Change 7.13% 17.02%
Inventory $444.6M $448.3M
Prepaid Expenses
Receivables $474.1M $448.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.716B $1.338B
YoY Change 34.55% 6.77%
LONG-TERM ASSETS
Property, Plant & Equipment $370.5M $510.2M
YoY Change -21.8% 59.64%
Goodwill $1.488B $1.436B
YoY Change 3.42% -0.34%
Intangibles $609.8M $565.8M
YoY Change 1.03% -7.97%
Long-Term Investments $65.80M
YoY Change 40.6%
Other Assets $594.7M $370.4M
YoY Change 83.1% -25.22%
Total Long-Term Assets $3.063B $2.949B
YoY Change 6.05% 2.7%
TOTAL ASSETS
Total Short-Term Assets $1.716B $1.338B
Total Long-Term Assets $3.063B $2.949B
Total Assets $4.779B $4.287B
YoY Change 14.78% 3.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $253.6M $247.5M
YoY Change -4.37% -10.91%
Accrued Expenses $364.3M $364.7M
YoY Change -4.88% -3.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $416.3M $413.2M
YoY Change 3203.97% 3179.37%
Total Short-Term Liabilities $1.034B $1.025B
YoY Change 56.51% 53.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.988B $1.600B
YoY Change -2.85% -24.14%
Other Long-Term Liabilities $331.3M $310.5M
YoY Change 4.91% 2.81%
Total Long-Term Liabilities $2.320B $1.911B
YoY Change -1.82% -20.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.034B $1.025B
Total Long-Term Liabilities $2.320B $1.911B
Total Liabilities $3.354B $2.936B
YoY Change 10.86% -4.67%
SHAREHOLDERS EQUITY
Retained Earnings $1.713B $1.636B
YoY Change 22.44% 26.12%
Common Stock $2.700M $900.0K
YoY Change -56.45% -95.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.425B $1.351B
YoY Change
Total Liabilities & Shareholders Equity $4.779B $4.287B
YoY Change 14.78% 3.94%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $155.4M $123.8M
YoY Change 9.44% 0.24%
Depreciation, Depletion And Amortization $30.70M $28.80M
YoY Change 12.87% 1.77%
Cash From Operating Activities $173.0M $51.10M
YoY Change 7.39% -25.94%
INVESTING ACTIVITIES
Capital Expenditures $20.90M $27.20M
YoY Change 18.08% 21.97%
Acquisitions
YoY Change
Other Investing Activities -$101.7M -$16.20M
YoY Change -1387.34% 116.0%
Cash From Investing Activities -$122.6M -$43.40M
YoY Change 1151.02% -15.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 308.2M -80.00M
YoY Change -350.57% 419.48%
NET CHANGE
Cash From Operating Activities 173.0M 51.10M
Cash From Investing Activities -122.6M -43.40M
Cash From Financing Activities 308.2M -80.00M
Net Change In Cash 358.6M -72.30M
YoY Change 1167.14% -1606.25%
FREE CASH FLOW
Cash From Operating Activities $173.0M $51.10M
Capital Expenditures $20.90M $27.20M
Free Cash Flow $152.1M $23.90M
YoY Change 6.07% -48.82%

Facts In Submission

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CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q1 us-gaap Profit Loss
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CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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1900000 usd
CY2024Q1 us-gaap Restructuring Charges
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CY2024Q1 us-gaap Payments For Restructuring
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CY2024Q1 us-gaap Investment Income Interest
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3600000 usd
CY2023Q1 us-gaap Investment Income Interest
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CY2024Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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-1200000 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2024Q1 alle Miscellaneous Other Nonoperating Income Expense
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1300000 usd
CY2023Q1 alle Miscellaneous Other Nonoperating Income Expense
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CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2023Q1 us-gaap Other Nonoperating Income Expense
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300000 usd
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0.190
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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500000 shares
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Deferred Revenue
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CY2023Q4 us-gaap Deferred Revenue
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19600000 usd
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20200000 usd
CY2024Q1 us-gaap Accrued Environmental Loss Contingencies Current
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3000000 usd
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3600000 usd
CY2023Q4 us-gaap Standard Product Warranty Accrual
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20700000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
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18200000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2600000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2000000.0 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4400000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2300000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
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CY2023Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
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CY2024Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
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CY2023Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
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CY2024Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
22200000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
18500000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Operating Income Loss
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CY2023Q1 us-gaap Operating Income Loss
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CY2024Q1 us-gaap Interest Expense
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22900000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
23600000 usd
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3700000 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
300000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
152900000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
147700000 usd

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