2022 Q3 Form 10-Q Financial Statement

#000089056422000016 Filed on August 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.198B $1.142B $1.091B
YoY Change 11.56% 17.12% 20.29%
Cost Of Revenue $839.0M $797.8M $764.4M
YoY Change 9.66% 14.2% 15.24%
Gross Profit $358.9M $344.0M $326.6M
YoY Change 16.26% 24.5% 34.02%
Gross Profit Margin 29.96% 30.13% 29.94%
Selling, General & Admin $232.6M $220.4M $212.1M
YoY Change 20.71% 24.94% 29.09%
% of Gross Profit 64.81% 64.07% 64.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.90M $6.100M $20.10M
YoY Change 152.11% -14.08% -8.64%
% of Gross Profit 4.99% 1.77% 6.15%
Operating Expenses $250.5M $220.4M $212.1M
YoY Change 29.99% 24.94% 29.09%
Operating Profit $108.4M $110.1M $100.6M
YoY Change 8.29% 25.26% 49.26%
Interest Expense -$12.10M $10.10M $9.300M
YoY Change -226.04% 7.45% 1.09%
% of Operating Profit -11.16% 9.17% 9.24%
Other Income/Expense, Net
YoY Change
Pretax Income $96.30M $100.0M $91.30M
YoY Change 6.41% 27.39% 56.87%
Income Tax $25.20M $27.40M $23.70M
% Of Pretax Income 26.17% 27.4% 25.96%
Net Earnings $73.20M $72.50M $66.80M
YoY Change -65.47% 12.93% 37.17%
Net Earnings / Revenue 6.11% 6.35% 6.12%
Basic Earnings Per Share $1.46 $1.42 $1.30
Diluted Earnings Per Share $1.444M $1.41 $1.28
COMMON SHARES
Basic Shares Outstanding 50.20M shares 51.00M shares 51.60M shares
Diluted Shares Outstanding 50.70M shares 51.60M shares 52.30M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $211.2M $490.6M $502.4M
YoY Change -68.91% 30.69% 29.99%
Cash & Equivalents $211.2M $490.6M $502.4M
Short-Term Investments
Other Short-Term Assets $15.60M $15.30M $16.40M
YoY Change -54.39% -9.47% -20.39%
Inventory
Prepaid Expenses $15.30M $17.20M $17.80M
Receivables $877.9M $843.2M $775.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.120B $1.366B $1.312B
YoY Change -21.25% -0.39% 22.17%
LONG-TERM ASSETS
Property, Plant & Equipment $62.30M $59.50M $58.60M
YoY Change 19.58% 9.78% -14.2%
Goodwill $1.806B $1.560B $1.570B
YoY Change 15.57% 5.73% -2.96%
Intangibles $818.2M $703.1M $716.6M
YoY Change 8.73% -2.09% -2.44%
Long-Term Investments
YoY Change
Other Assets $22.20M $22.90M $22.90M
YoY Change -1.33% 7.01% 0.88%
Total Long-Term Assets $2.491B $2.158B $2.179B
YoY Change 13.02% 3.4% -3.61%
TOTAL ASSETS
Total Short-Term Assets $1.120B $1.366B $1.312B
Total Long-Term Assets $2.491B $2.158B $2.179B
Total Assets $3.611B $3.525B $3.491B
YoY Change -0.42% 1.9% 4.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.50M $32.80M $21.40M
YoY Change 4.69% -0.91% -28.43%
Accrued Expenses $352.7M $359.8M $335.2M
YoY Change 5.13% 19.5% 7.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $492.3M $492.4M $439.1M
YoY Change -16.7% -1.2% 2.38%
LONG-TERM LIABILITIES
Long-Term Debt $1.081B $1.035B $1.034B
YoY Change 4.58% 0.08% 0.05%
Other Long-Term Liabilities $13.60M $14.10M $23.00M
YoY Change -78.06% -74.08% -63.2%
Total Long-Term Liabilities $13.60M $14.10M $23.00M
YoY Change -78.06% -74.08% -63.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $492.3M $492.4M $439.1M
Total Long-Term Liabilities $13.60M $14.10M $23.00M
Total Liabilities $1.722B $1.668B $1.622B
YoY Change -3.91% -4.06% -3.95%
SHAREHOLDERS EQUITY
Retained Earnings $1.190B $1.166B $1.173B
YoY Change 3.89% 12.15% 20.31%
Common Stock $703.2M $692.6M $696.5M
YoY Change 2.03% 1.33% 3.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.889B $1.856B $1.869B
YoY Change
Total Liabilities & Shareholders Equity $3.611B $3.525B $3.491B
YoY Change -0.42% 1.9% 4.7%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $73.20M $72.50M $66.80M
YoY Change -65.47% 12.93% 37.17%
Depreciation, Depletion And Amortization $17.90M $6.100M $20.10M
YoY Change 152.11% -14.08% -8.64%
Cash From Operating Activities $88.10M $88.40M $56.00M
YoY Change 23.74% 4.12% -53.26%
INVESTING ACTIVITIES
Capital Expenditures -$8.600M -$8.800M $9.600M
YoY Change 7.5% 6.02% 3.23%
Acquisitions
YoY Change
Other Investing Activities -$351.9M $2.500M $0.00
YoY Change -197.59% -102.92% -100.0%
Cash From Investing Activities -$360.5M -$6.300M $200.0K
YoY Change -202.24% -93.3% -102.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $76.90M
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -6.600M -93.70M -$83.40M
YoY Change -94.48% 3246.43% -2975.86%
NET CHANGE
Cash From Operating Activities 88.10M 88.40M $56.00M
Cash From Investing Activities -360.5M -6.300M $200.0K
Cash From Financing Activities -6.600M -93.70M -$83.40M
Net Change In Cash -279.0M -11.60M -$27.20M
YoY Change -191.69% -2.52% -124.26%
FREE CASH FLOW
Cash From Operating Activities $88.10M $88.40M $56.00M
Capital Expenditures -$8.600M -$8.800M $9.600M
Free Cash Flow $96.70M $97.20M $46.40M
YoY Change 22.1% 4.29% -58.01%

Facts In Submission

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CY2022Q2 asgn Debt Covenant Maximum Senior Secured Debt To Ebidta Ratio
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NetIncomeFromContinuingOperations
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NetIncomeFromContinuingOperations
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NetIncomeFromContinuingOperations
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CY2022Q2 asgn Net Income From Discontinued Operations
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NetIncomeFromDiscontinuedOperations
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NetIncomeFromDiscontinuedOperations
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NetIncomeFromDiscontinuedOperations
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CY2022Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
72500000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.42
CY2021Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.08
us-gaap Income Loss From Continuing Operations Per Basic Share
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2.73
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.89
CY2022Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2021Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
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CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.42
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.72
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.13
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.41
CY2021Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.06
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.70
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.86
CY2022Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2021Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.24
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.41
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.69
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.10
CY2022Q2 us-gaap Revenues
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1141800000 usd
CY2021Q2 us-gaap Revenues
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us-gaap Revenues
Revenues
2232800000 usd
us-gaap Revenues
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1881900000 usd
CY2022Q2 us-gaap Gross Profit
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344000000.0 usd
CY2021Q2 us-gaap Gross Profit
GrossProfit
276300000 usd
us-gaap Gross Profit
GrossProfit
670600000 usd
us-gaap Gross Profit
GrossProfit
520000000.0 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2022Q2 us-gaap Depreciation
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CY2021Q2 us-gaap Depreciation
Depreciation
7100000 usd
us-gaap Depreciation
Depreciation
12300000 usd
us-gaap Depreciation
Depreciation
14600000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13500000 usd
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AmortizationOfIntangibleAssets
12000000.0 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
27400000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2022Q2 us-gaap Revenues
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CY2021Q2 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
1881900000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
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CY2022Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
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CY2021Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
15100000 usd
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
8100000 usd
CY2022Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
0 usd
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
350000000 usd

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