2023 Q3 Form 10-Q Financial Statement

#000105350723000142 Filed on July 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.819B $2.772B
YoY Change 5.51% 3.64%
Cost Of Revenue $815.8M $827.3M
YoY Change -2.47% 0.53%
Gross Profit $2.003B $1.944B
YoY Change 9.14% 5.02%
Gross Profit Margin 71.06% 70.15%
Selling, General & Admin $231.9M $244.4M
YoY Change 0.3% 9.65%
% of Gross Profit 11.58% 12.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $762.9M $764.6M
YoY Change -15.05% -7.49%
% of Gross Profit 38.09% 39.32%
Operating Expenses $231.9M $1.061B
YoY Change 0.3% 376.0%
Operating Profit $658.7M $883.4M
YoY Change 0.89% 12.92%
Interest Expense $359.2M -$209.9M
YoY Change 22.18% -175.89%
% of Operating Profit 54.53% -23.76%
Other Income/Expense, Net -$15.70M -$188.8M
YoY Change -107.74% -262.76%
Pretax Income $643.0M $474.7M
YoY Change -24.87% -47.16%
Income Tax $65.70M $13.20M
% Of Pretax Income 10.22% 2.78%
Net Earnings $577.3M $475.7M
YoY Change -31.25% -47.04%
Net Earnings / Revenue 20.48% 17.16%
Basic Earnings Per Share $1.26 $1.02
Diluted Earnings Per Share $1.26 $1.02
COMMON SHARES
Basic Shares Outstanding 466.2M shares 466.0M shares
Diluted Shares Outstanding 467.2M shares 467.0M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.119B $2.016B
YoY Change -0.13% -2.47%
Cash & Equivalents $2.119B $2.016B
Short-Term Investments
Other Short-Term Assets $683.0M $594.3M
YoY Change -25.34% 21.46%
Inventory
Prepaid Expenses $104.0M $107.6M
Receivables $647.7M $684.0M
Other Receivables $400.0M $387.4M
Total Short-Term Assets $3.850B $3.681B
YoY Change 2.42% -1.19%
LONG-TERM ASSETS
Property, Plant & Equipment $28.41B $28.74B
YoY Change 0.54% -0.47%
Goodwill $12.57B $13.05B
YoY Change -0.92% 0.63%
Intangibles $16.66B $17.29B
YoY Change -9.09% -10.09%
Long-Term Investments
YoY Change
Other Assets $655.1M $3.410B
YoY Change 32.93% 697.92%
Total Long-Term Assets $61.80B $63.20B
YoY Change -1.51% -1.85%
TOTAL ASSETS
Total Short-Term Assets $3.850B $3.681B
Total Long-Term Assets $61.80B $63.20B
Total Assets $65.65B $66.88B
YoY Change -1.29% -1.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $216.2M $229.5M
YoY Change 1.98% 17.99%
Accrued Expenses $1.223B $2.099B
YoY Change 1.67% 66.26%
Deferred Revenue $472.5M $515.7M
YoY Change -10.82% -29.3%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.158B $3.205B
YoY Change 4.72% -11.07%
Total Short-Term Liabilities $6.869B $6.926B
YoY Change 3.72% -7.18%
LONG-TERM LIABILITIES
Long-Term Debt $35.44B $35.59B
YoY Change 0.36% -4.43%
Other Long-Term Liabilities $1.135B $10.87B
YoY Change -4.15% 811.67%
Total Long-Term Liabilities $1.135B $46.46B
YoY Change -4.15% 3796.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.869B $6.926B
Total Long-Term Liabilities $1.135B $46.46B
Total Liabilities $54.42B $61.71B
YoY Change 0.41% 7.53%
SHAREHOLDERS EQUITY
Retained Earnings -$2.927B -$2.756B
YoY Change 324.69% 227.18%
Common Stock $4.800M $4.800M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.533B $5.166B
YoY Change
Total Liabilities & Shareholders Equity $65.65B $66.88B
YoY Change -1.29% -1.82%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $577.3M $475.7M
YoY Change -31.25% -47.04%
Depreciation, Depletion And Amortization $762.9M $764.6M
YoY Change -15.05% -7.49%
Cash From Operating Activities $1.301B $1.209B
YoY Change 39.5% 32.13%
INVESTING ACTIVITIES
Capital Expenditures $390.7M $420.9M
YoY Change -185.08% -213.73%
Acquisitions
YoY Change
Other Investing Activities -$58.40M -$18.80M
YoY Change -59.3% -7.39%
Cash From Investing Activities -$449.1M -$439.7M
YoY Change -25.49% 12.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -707.7M -561.2M
YoY Change 245.05% 11.24%
NET CHANGE
Cash From Operating Activities 1.301B 1.209B
Cash From Investing Activities -449.1M -439.7M
Cash From Financing Activities -707.7M -561.2M
Net Change In Cash 143.8M 208.5M
YoY Change 15.5% 922.06%
FREE CASH FLOW
Cash From Operating Activities $1.301B $1.209B
Capital Expenditures $390.7M $420.9M
Free Cash Flow $909.9M $788.5M
YoY Change -34.61% -38.66%

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1024000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1195000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
466979000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
459819000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
466939000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
458564000 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.02
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.74
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.52
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.95
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.51
CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1600000 usd
CY2022Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3500000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
6600000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
9200000 usd
CY2023Q2 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
8100000 usd
CY2022Q2 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
14800000 usd
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
10700000 usd
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
24800000 usd
us-gaap Proceeds From Previous Acquisition
ProceedsFromPreviousAcquisition
4300000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
474700000 usd
CY2023Q2 us-gaap Assets
Assets
66879000000 usd
CY2023Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
37500000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
898300000 usd
CY2022Q2 us-gaap Assets
Assets
68116800000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
843100000 usd
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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