2022 Q4 Form 10-K Financial Statement

#000000296922000054 Filed on November 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2022
Revenue $3.175B $3.570B $12.70B
YoY Change 6.03% 25.66% 23.01%
Cost Of Revenue $2.272B $2.621B $9.339B
YoY Change 2.19% 30.65% 29.95%
Gross Profit $902.4M $948.8M $3.360B
YoY Change 17.1% 13.66% 7.12%
Gross Profit Margin 28.42% 26.58% 26.46%
Selling, General & Admin $234.4M $223.9M $900.6M
YoY Change 0.69% 10.79% 8.72%
% of Gross Profit 25.98% 23.6% 26.8%
Research & Development $24.40M $31.10M $102.9M
YoY Change 4.72% 21.01% 10.05%
% of Gross Profit 2.7% 3.28% 3.06%
Depreciation & Amortization $321.5M $332.8M $1.338B
YoY Change -3.25% 0.06% 1.28%
% of Gross Profit 35.63% 35.08% 39.83%
Operating Expenses $258.8M $248.6M $947.6M
YoY Change 1.05% 13.98% 2.79%
Operating Profit $652.0M $700.2M $2.412B
YoY Change 24.67% 13.54% 5.75%
Interest Expense $41.20M $79.10M $368.3M
YoY Change 35.08% 35.45% 159.73%
% of Operating Profit 6.32% 11.3% 15.27%
Other Income/Expense, Net -$600.0K $20.20M $62.40M
YoY Change -102.65% 17.44% -15.33%
Pretax Income $720.2M $711.0M $2.755B
YoY Change 8.64% 2.7% 9.86%
Income Tax $136.4M $130.6M $500.8M
% Of Pretax Income 18.94% 18.37% 18.18%
Net Earnings $572.2M $583.1M $2.256B
YoY Change 2.11% -4.47% 7.48%
Net Earnings / Revenue 18.02% 16.33% 17.77%
Basic Earnings Per Share $2.58 $10.16
Diluted Earnings Per Share $2.57 $2.621M $10.14M
COMMON SHARES
Basic Shares Outstanding 221.9M shares 222.0M shares
Diluted Shares Outstanding 222.6M shares 222.5M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.151B $3.302B $3.302B
YoY Change -14.44% -43.08% -43.08%
Cash & Equivalents $3.131B $2.711B $2.711B
Short-Term Investments $19.60M $590.7M $590.7M
Other Short-Term Assets $542.9M $672.6M $672.6M
YoY Change 11.96% 22.09% 97.24%
Inventory $635.3M $514.2M $514.2M
Prepaid Expenses $165.1M $156.8M
Receivables $1.827B $1.794B $1.794B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.321B $6.283B $6.283B
YoY Change -2.5% -24.99% -24.99%
LONG-TERM ASSETS
Property, Plant & Equipment $15.04B $14.16B $14.16B
YoY Change 10.38% 6.83% 2.46%
Goodwill $876.3M $823.0M
YoY Change -5.09% -9.71%
Intangibles $363.1M $347.5M
YoY Change -13.3% -17.4%
Long-Term Investments $3.392B $3.354B $3.354B
YoY Change 1.87% 103.35% 95.42%
Other Assets $953.0M $1.642B $1.642B
YoY Change -41.23% 8.98% 87.98%
Total Long-Term Assets $21.96B $20.91B $20.91B
YoY Change 6.37% 13.13% 13.13%
TOTAL ASSETS
Total Short-Term Assets $6.321B $6.283B $6.283B
Total Long-Term Assets $21.96B $20.91B $20.91B
Total Assets $28.28B $27.19B $27.19B
YoY Change 4.25% 1.24% 1.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.127B $2.772B $2.772B
YoY Change 18.77% 49.69% 276.17%
Accrued Expenses $350.2M
YoY Change 7.62%
Deferred Revenue $424.6M $439.1M
YoY Change -18.25% 19.71%
Short-Term Debt $2.200M $10.70M $10.70M
YoY Change -98.05% 345.83% 345.83%
Long-Term Debt Due $562.8M $548.3M $548.3M
YoY Change 548.39% 13.17% 13.17%
Total Short-Term Liabilities $3.277B $3.466B $3.466B
YoY Change 24.59% 23.82% 23.82%
LONG-TERM LIABILITIES
Long-Term Debt $7.493B $7.086B $7.086B
YoY Change 4.38% -0.9% -0.9%
Other Long-Term Liabilities $1.118B $1.691B $1.691B
YoY Change -35.46% 3.07% 13.98%
Total Long-Term Liabilities $10.48B $8.777B $8.777B
YoY Change 3.6% -11.98% 1.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.277B $3.466B $3.466B
Total Long-Term Liabilities $10.48B $8.777B $8.777B
Total Liabilities $13.76B $14.05B $14.05B
YoY Change 7.93% 10.0% 5.47%
SHAREHOLDERS EQUITY
Retained Earnings $16.73B $16.52B
YoY Change 5.19% 5.37%
Common Stock $1.398B $1.391B
YoY Change 2.67% 1.88%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.981B
YoY Change -0.35%
Treasury Stock Shares 27.62M shares
Shareholders Equity $13.94B $13.14B $13.14B
YoY Change
Total Liabilities & Shareholders Equity $28.28B $27.19B $27.19B
YoY Change 4.25% 1.24% 1.24%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2022
OPERATING ACTIVITIES
Net Income $572.2M $583.1M $2.256B
YoY Change 2.11% -4.47% 7.48%
Depreciation, Depletion And Amortization $321.5M $332.8M $1.338B
YoY Change -3.25% 0.06% 1.28%
Cash From Operating Activities $719.3M $1.017B $3.230B
YoY Change -8.39% 23.08% -3.34%
INVESTING ACTIVITIES
Capital Expenditures $834.2M -$787.4M -$2.927B
YoY Change 25.67% 27.74% -218.76%
Acquisitions $0.00 $65.10M
YoY Change -100.0% 520.0%
Other Investing Activities -$1.700M -$225.7M -$930.7M
YoY Change -73.44% -212.01% 15946.55%
Cash From Investing Activities -$256.2M -$1.013B -$3.857B
YoY Change -85.1% 144.18% 41.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.000M $19.30M
YoY Change
Debt Paid & Issued, Net $195.9M $400.0M
YoY Change -51.03% -13.59%
Cash From Financing Activities -$85.60M -188.5M -1.001B
YoY Change -85.37% -13.45% -29.58%
NET CHANGE
Cash From Operating Activities $719.3M 1.017B 3.230B
Cash From Investing Activities -$256.2M -1.013B -3.857B
Cash From Financing Activities -$85.60M -188.5M -1.001B
Net Change In Cash $420.0M -184.6M -1.628B
YoY Change -127.72% -195.35% 107.58%
FREE CASH FLOW
Cash From Operating Activities $719.3M $1.017B $3.230B
Capital Expenditures $834.2M -$787.4M -$2.927B
Free Cash Flow -$114.9M $1.804B $6.157B
YoY Change -194.65% 25.07% 601.46%

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CY2021 us-gaap Proceeds From Sale And Maturity Of Other Investments
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CY2020 us-gaap Proceeds From Sale And Maturity Of Other Investments
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CY2021 us-gaap Payments For Proceeds From Other Investing Activities
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CY2020 us-gaap Payments For Proceeds From Other Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2021 us-gaap Repayments Of Long Term Debt
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CY2020 us-gaap Repayments Of Long Term Debt
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CY2022 us-gaap Proceeds From Repayments Of Short Term Debt
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17900000 usd
CY2021 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2021 us-gaap Payments Of Dividends Common Stock
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CY2021 us-gaap Proceeds From Stock Options Exercised
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CY2020 us-gaap Proceeds From Stock Options Exercised
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CY2020 us-gaap Proceeds From Minority Shareholders
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CY2022 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Proceeds From Payments For Other Financing Activities
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CY2020 us-gaap Proceeds From Payments For Other Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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59600000 usd
CY2021 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
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CY2020 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2022 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2021 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2020 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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CY2022 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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CY2021 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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CY2020 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
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CY2022 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
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CY2021 us-gaap Net Cash Provided By Used In Discontinued Operations
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6700000 usd
CY2020 us-gaap Net Cash Provided By Used In Discontinued Operations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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27800000 usd
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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14900000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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31800000 usd
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2020 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2021 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021 us-gaap Common Stock Dividends Per Share Declared
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CY2021 us-gaap Dividends Common Stock Cash
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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43500000 usd
CY2021 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2021 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2021 us-gaap Minority Interest Decrease From Redemptions
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5300000 usd
CY2021 us-gaap Stockholders Equity Other
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CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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2266500000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2022 us-gaap Common Stock Dividends Per Share Declared
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CY2022 us-gaap Dividends Common Stock Cash
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CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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46000000.0 usd
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CY2022 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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33000000.0 usd
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1900000 usd
CY2022 us-gaap Stockholders Equity Other
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300000 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022 us-gaap Number Of Reportable Segments
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CY2020 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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8300000 usd
CY2022Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation
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CY2021Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation
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CY2021Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
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CY2022Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
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CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:3pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Estimates and Assumptions</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.</span></div>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:3pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Estimates and Assumptions</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.</span></div>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-bottom:3pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior year segment information has been reclassified to conform to the fiscal year 2022 presentation, which reflects the reorganization of our reporting segments effective 1 October 2021.</span></div>
CY2022 us-gaap Environmental Remediation Expense
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CY2021 us-gaap Environmental Remediation Expense
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CY2020 us-gaap Environmental Remediation Expense
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CY2020Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2022 apd Accounts Receivable Allowance For Credit Loss Increase Decrease For Foreign Currency Translation And Other
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CY2019Q3 us-gaap Allowance For Doubtful Accounts Receivable
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CY2020 us-gaap Provision For Doubtful Accounts
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CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
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CY2021 us-gaap Accounts Receivable Change In Method Credit Loss Expense Reversal
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CY2021 us-gaap Provision For Doubtful Accounts
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CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2021 apd Accounts Receivable Allowance For Credit Loss Increase Decrease For Foreign Currency Translation And Other
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CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022 us-gaap Provision For Doubtful Accounts
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CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
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CY2020Q3 us-gaap Accumulated Capitalized Interest Costs
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CY2021Q3 us-gaap Asset Retirement Obligation
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CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2021 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2021 apd Net Gain Loss On Exchange Of Equity Affiliate Investments
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CY2021 apd Net Gain Loss On Exchange Of Equity Affiliate Investments After Tax
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CY2022Q3 us-gaap Contract With Customer Asset Net Current
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CY2021Q3 us-gaap Contract With Customer Asset Net Current
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CY2021Q3 us-gaap Capitalized Contract Cost Net Current
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CY2022Q3 us-gaap Contract With Customer Liability Current
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CY2021Q3 us-gaap Contract With Customer Liability Current
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CY2022Q3 us-gaap Contract With Customer Liability Noncurrent
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CY2021Q3 us-gaap Contract With Customer Liability Noncurrent
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CY2022 us-gaap Contract With Customer Liability Revenue Recognized
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CY2022Q3 us-gaap Inventory Finished Goods
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CY2021Q3 us-gaap Inventory Finished Goods
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CY2022Q3 us-gaap Inventory Work In Process
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CY2021Q3 us-gaap Inventory Work In Process
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CY2022Q3 us-gaap Inventory Raw Materials And Supplies
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330200000 usd
CY2021Q3 us-gaap Inventory Raw Materials And Supplies
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CY2022Q3 us-gaap Inventory Net
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CY2021Q3 us-gaap Inventory Net
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CY2022Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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CY2021Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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1649300000 usd
CY2022 us-gaap Equity Method Investment Dividends Or Distributions
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CY2021 us-gaap Equity Method Investment Dividends Or Distributions
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CY2020 us-gaap Equity Method Investment Dividends Or Distributions
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107000000.0 usd
CY2022Q3 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
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44600000 usd
CY2021Q3 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
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CY2022 us-gaap Equity Method Investment Other Than Temporary Impairment
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CY2020 apd Equity Affiliate Proportionate Share Of Accumulated Dividend Distribution Taxes Released India Finance Act
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CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022Q3 us-gaap Property Plant And Equipment Net
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CY2022 us-gaap Depreciation
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CY2021 us-gaap Depreciation
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CY2020 us-gaap Depreciation
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CY2020Q3 us-gaap Goodwill
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CY2021 us-gaap Goodwill Acquired During Period
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CY2021Q3 us-gaap Goodwill
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CY2022 us-gaap Goodwill Acquired During Period
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CY2022 us-gaap Goodwill Translation And Purchase Accounting Adjustments
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CY2022Q3 us-gaap Goodwill
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CY2022Q3 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
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CY2022Q3 us-gaap Goodwill Gross
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CY2021Q3 us-gaap Goodwill Gross
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CY2020Q3 us-gaap Goodwill Gross
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CY2022Q3 us-gaap Goodwill
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CY2021Q3 us-gaap Goodwill
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CY2020Q3 us-gaap Goodwill
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CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
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CY2022Q3 us-gaap Finite Lived Intangible Assets Net
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CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q3 us-gaap Finite Lived Intangible Assets Net
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CY2022Q3 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2022Q3 apd Intangible Assets Accumulated Amortization And Impairment
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