2024 Q2 Form 10-Q Financial Statement

#000105350724000084 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $2.900B $2.834B
YoY Change 4.64% 2.42%
Cost Of Revenue $821.9M $788.3M
YoY Change -0.65% -2.21%
Gross Profit $2.078B $2.046B
YoY Change 6.89% 4.32%
Gross Profit Margin 71.66% 72.19%
Selling, General & Admin $234.3M $257.0M
YoY Change -4.13% -2.61%
% of Gross Profit 11.27% 12.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $561.7M $549.4M
YoY Change -26.54% -30.81%
% of Gross Profit 27.03% 26.86%
Operating Expenses $234.3M $809.2M
YoY Change -77.92% 206.63%
Operating Profit $1.284B $1.237B
YoY Change 45.38% 59.44%
Interest Expense -$343.4M -$191.1M
YoY Change 63.6% -156.17%
% of Operating Profit -26.74% -15.45%
Other Income/Expense, Net -$255.9M -$14.60M
YoY Change 35.54% -96.41%
Pretax Income $1.028B $1.031B
YoY Change 116.64% 179.83%
Income Tax $120.0M $109.2M
% Of Pretax Income 11.67% 10.59%
Net Earnings $908.4M $917.4M
YoY Change 90.96% 191.24%
Net Earnings / Revenue 31.32% 32.37%
Basic Earnings Per Share $1.93 $1.97
Diluted Earnings Per Share $1.92 $1.96
COMMON SHARES
Basic Shares Outstanding 467.0M shares 466.4M shares
Diluted Shares Outstanding 467.8M shares 467.7M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.492B $2.389B
YoY Change 23.63% 32.51%
Cash & Equivalents $2.492B $2.389B
Short-Term Investments
Other Short-Term Assets $909.7M $670.4M
YoY Change 53.07% -28.81%
Inventory
Prepaid Expenses $111.4M $98.90M
Receivables $712.3M $738.4M
Other Receivables $0.00 $441.8M
Total Short-Term Assets $4.114B $4.240B
YoY Change 11.75% 22.89%
LONG-TERM ASSETS
Property, Plant & Equipment $28.94B $29.29B
YoY Change 0.69% 1.73%
Goodwill $12.48B $12.56B
YoY Change -4.35% -3.39%
Intangibles $15.76B $16.12B
YoY Change -8.83% -8.61%
Long-Term Investments
YoY Change
Other Assets $753.0M $3.758B
YoY Change -77.92% 460.98%
Total Long-Term Assets $61.72B $62.44B
YoY Change -2.33% -1.46%
TOTAL ASSETS
Total Short-Term Assets $4.114B $4.240B
Total Long-Term Assets $61.72B $62.44B
Total Assets $65.84B $66.68B
YoY Change -1.56% -0.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $206.0M $182.1M
YoY Change -10.24% -11.6%
Accrued Expenses $1.166B $2.132B
YoY Change -44.43% 82.0%
Deferred Revenue $391.7M $544.2M
YoY Change -24.04% -1.8%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.329B $3.068B
YoY Change 3.87% -20.45%
Total Short-Term Liabilities $6.889B $6.730B
YoY Change -0.53% -10.65%
LONG-TERM LIABILITIES
Long-Term Debt $35.64B $36.19B
YoY Change 0.14% 4.34%
Other Long-Term Liabilities $1.207B $11.70B
YoY Change -88.89% 896.95%
Total Long-Term Liabilities $1.207B $47.89B
YoY Change -97.4% 3980.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.889B $6.730B
Total Long-Term Liabilities $1.207B $47.89B
Total Liabilities $55.41B $62.63B
YoY Change -10.21% 14.78%
SHAREHOLDERS EQUITY
Retained Earnings -$3.341B -$3.481B
YoY Change 21.23% 39.44%
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 $3.856B $4.048B
YoY Change
Total Liabilities & Shareholders Equity $65.84B $66.68B
YoY Change -1.56% -0.21%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $908.4M $917.4M
YoY Change 90.96% 191.24%
Depreciation, Depletion And Amortization $561.7M $549.4M
YoY Change -26.54% -30.81%
Cash From Operating Activities $1.339B $1.284B
YoY Change 10.67% 19.91%
INVESTING ACTIVITIES
Capital Expenditures $325.2M $396.7M
YoY Change -22.74% -14.12%
Acquisitions $44.70M
YoY Change -26.6%
Other Investing Activities $236.0M -$39.40M
YoY Change -1355.32% -83.78%
Cash From Investing Activities -$89.20M -$436.1M
YoY Change -79.71% 57.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.028B -390.2M
YoY Change 83.16% -61.47%
NET CHANGE
Cash From Operating Activities 1.339B 1.284B
Cash From Investing Activities -89.20M -436.1M
Cash From Financing Activities -1.028B -390.2M
Net Change In Cash 221.4M 457.3M
YoY Change 6.19% -312.4%
FREE CASH FLOW
Cash From Operating Activities $1.339B $1.284B
Capital Expenditures $325.2M $396.7M
Free Cash Flow $1.013B $886.9M
YoY Change 28.51% 45.73%

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CY2024Q1 amt Accrued Dividend Rsu
AccruedDividendRsu
15400000 usd
CY2024Q1 amt Paid Dividend Rsu
PaidDividendRSU
9400000 usd
CY2023Q1 amt Paid Dividend Rsu
PaidDividendRSU
6600000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
64900000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
65500000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
766955 shares
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
166886 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
600069 shares
CY2024Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
13900000 usd
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
917400000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
917400000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
335800000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
335800000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
466519000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
465741000 shares
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1141000 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1069000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
467660000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
466810000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.97
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.96
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
64900000 usd
CY2024Q1 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
62100000 usd
CY2024Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
549400000 usd
CY2024Q1 us-gaap Other Expenses
OtherExpenses
208500000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1030900000 usd
CY2024Q1 us-gaap Assets
Assets
66679000000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
64900000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
65500000 usd
CY2023Q1 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
59900000 usd
CY2023Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
794100000 usd
CY2023Q1 us-gaap Other Expenses
OtherExpenses
534700000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
368400000 usd
CY2023Q1 us-gaap Assets
Assets
66817700000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
65500000 usd
CY2023Q1 amt Asset Impairment Charges Included In Other Operating Expense
AssetImpairmentChargesIncludedInOtherOperatingExpense
29800000 usd
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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