2023 Q1 Form 10-K Financial Statement

#000101872423000004 Filed on February 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $127.4B $149.2B $514.0B
YoY Change 9.37% 8.58% 9.4%
Cost Of Revenue $67.79B $85.64B $288.8B
YoY Change 1.94% 3.39% 6.05%
Gross Profit $59.57B $63.56B $225.2B
YoY Change 19.27% 16.47% 14.01%
Gross Profit Margin 46.77% 42.6% 43.81%
Selling, General & Admin $13.22B $39.25B $54.13B
YoY Change 21.08% 9.71% 30.83%
% of Gross Profit 22.19% 61.76% 24.04%
Research & Development $20.45B $20.81B $73.21B
YoY Change 37.78% 35.92% 30.62%
% of Gross Profit 34.33% 32.74% 32.52%
Depreciation & Amortization $11.12B $13.15B $35.77B
YoY Change 23.89% 34.11% 30.55%
% of Gross Profit 18.67% 20.68% 15.89%
Operating Expenses $33.67B $60.83B $127.3B
YoY Change 30.71% 19.0% 30.71%
Operating Profit $4.774B $2.737B $12.25B
YoY Change 30.12% -20.9% -50.77%
Interest Expense $823.0M -$2.725B $2.367B
YoY Change 74.36% -124.37% 30.85%
% of Operating Profit 17.24% -99.56% 19.33%
Other Income/Expense, Net -$655.0M -$974.0M -$18.18B
YoY Change -92.67% -434.71% -237.01%
Pretax Income $4.119B -$962.0M -$8.225B
YoY Change -178.23% -106.44% -122.92%
Income Tax $948.0M -$1.227B -$3.217B
% Of Pretax Income 23.02%
Net Earnings $3.172B $278.0M $21.41B
YoY Change -182.52% -98.06% -20.41%
Net Earnings / Revenue 2.49% 0.19% 4.17%
Basic Earnings Per Share $0.31 -$0.27
Diluted Earnings Per Share $0.31 $27.20K -$0.27
COMMON SHARES
Basic Shares Outstanding 10.25B shares 10.20B shares 10.19B shares
Diluted Shares Outstanding 10.35B shares 10.19B shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $64.41B $70.03B $70.03B
YoY Change -2.98% -27.09% -27.09%
Cash & Equivalents $49.34B $53.89B $53.89B
Short-Term Investments $15.06B $16.14B $16.14B
Other Short-Term Assets $377.0M $358.0M $358.0M
YoY Change 97.38% 47.93%
Inventory $34.17B $34.41B $34.41B
Prepaid Expenses
Receivables $37.65B $42.36B $42.00B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $136.2B $146.8B $146.8B
YoY Change 1.75% -9.15% -9.15%
LONG-TERM ASSETS
Property, Plant & Equipment $259.0B $252.8B $252.8B
YoY Change 15.31% 16.86% 16.86%
Goodwill $22.75B $20.29B
YoY Change 12.46% 31.99%
Intangibles $6.097B
YoY Change 19.39%
Long-Term Investments $4.400B $5.000B $5.000B
YoY Change -62.71% -75.37% -75.37%
Other Assets $46.39B $42.76B $31.66B
YoY Change 44.83% 57.0% 1632.0%
Total Long-Term Assets $328.2B $315.9B $315.9B
YoY Change 18.51% 21.98% 21.98%
TOTAL ASSETS
Total Short-Term Assets $136.2B $146.8B $146.8B
Total Long-Term Assets $328.2B $315.9B $315.9B
Total Assets $464.4B $462.7B $462.7B
YoY Change 13.05% 10.02% 10.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $66.91B $79.60B $79.60B
YoY Change -2.39% 1.19% 1.19%
Accrued Expenses $66.38B $62.57B $59.30B
YoY Change 14.17% 20.84% 18.39%
Deferred Revenue $14.28B $13.23B
YoY Change 11.4% 11.84%
Short-Term Debt $1.100B $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000B $2.999B $3.265B
YoY Change -25.4% 101.14% 93.54%
Total Short-Term Liabilities $147.6B $155.4B $155.4B
YoY Change 5.78% 9.23% 9.23%
LONG-TERM LIABILITIES
Long-Term Debt $67.08B $67.15B $85.24B
YoY Change 41.06% 37.76% 20.71%
Other Long-Term Liabilities $20.93B $21.12B $76.00B
YoY Change -12.68% -10.67% 9.48%
Total Long-Term Liabilities $88.02B $88.27B $161.2B
YoY Change 23.05% 21.94% 15.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $147.6B $155.4B $155.4B
Total Long-Term Liabilities $88.02B $88.27B $161.2B
Total Liabilities $235.6B $243.7B $316.6B
YoY Change 11.63% 13.52% 12.16%
SHAREHOLDERS EQUITY
Retained Earnings $86.37B $83.19B
YoY Change 5.23% -3.17%
Common Stock $108.0M $108.0M
YoY Change 2060.0% 2060.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $154.5B $146.0B $146.0B
YoY Change
Total Liabilities & Shareholders Equity $464.4B $462.7B $462.7B
YoY Change 13.05% 10.02% 10.02%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $3.172B $278.0M $21.41B
YoY Change -182.52% -98.06% -20.41%
Depreciation, Depletion And Amortization $11.12B $13.15B $35.77B
YoY Change 23.89% 34.11% 30.55%
Cash From Operating Activities $4.788B $29.17B $39.32B
YoY Change -271.61% 32.09% -41.49%
INVESTING ACTIVITIES
Capital Expenditures $14.21B -$16.59B -$63.65B
YoY Change -195.02% -12.37% 4.25%
Acquisitions $3.513B $7.696B
YoY Change -44.6% 168.72%
Other Investing Activities -$1.599B $5.771B $26.04B
YoY Change -110.08% -9.19% 798.38%
Cash From Investing Activities -$15.81B -$10.82B -$48.58B
YoY Change -1844.59% -13.98% -18.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.666B
YoY Change
Debt Paid & Issued, Net $1.386B $1.551B
YoY Change -0.32%
Cash From Financing Activities $6.354B 86.00M $11.76B
YoY Change 219.3% -102.77% -691.1%
NET CHANGE
Cash From Operating Activities $4.788B 29.17B $39.32B
Cash From Investing Activities -$15.81B -10.82B -$48.58B
Cash From Financing Activities $6.354B 86.00M $11.76B
Net Change In Cash -$4.519B 18.44B $2.444B
YoY Change -3804.1% 187.82% -63.25%
FREE CASH FLOW
Cash From Operating Activities $4.788B $29.17B $39.32B
Capital Expenditures $14.21B -$16.59B -$63.65B
Free Cash Flow -$9.419B $45.77B $103.0B
YoY Change -177.45% 11.56% -19.72%

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<div style="margin-top:14pt;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Prior Period Reclassifications</span></div><div style="margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to the current period presentation. “Other operating expense (income), net” was reclassified into “Depreciation and amortization of property and equipment and capitalized content costs, operating lease assets, and other” on our consolidated statements of cash flows.</span></div>
CY2022 us-gaap Use Of Estimates
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Use of EstimatesThe preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, income taxes, useful lives of equipment, commitments and contingencies, valuation of acquired intangibles and goodwill, stock-based compensation forfeiture rates, vendor funding, inventory valuation, collectability of receivables, impairment of property and equipment and operating leases, valuation and impairment of investments, self-insurance liabilities, and viewing patterns of capitalized video content. Actual results could differ materially from these estimates.
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