2024 Q4 Form 10-K Financial Statement

#000114036124047881 Filed on November 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2024
Revenue $3.168B $12.26B
YoY Change -1.89% -3.21%
Cost Of Revenue $2.557B $10.01B
YoY Change -3.47% -3.37%
Gross Profit $611.0M $2.253B
YoY Change 5.34% -2.47%
Gross Profit Margin 19.29% 18.38%
Selling, General & Admin $228.0M $892.0M
YoY Change 6.05% 0.68%
% of Gross Profit 37.32% 39.59%
Research & Development $72.00M
YoY Change -12.2%
% of Gross Profit 3.2%
Depreciation & Amortization $217.0M $857.0M
YoY Change 4.83% 4.77%
% of Gross Profit 35.52% 38.04%
Operating Expenses $285.0M $1.126B
YoY Change 3.26% 16.32%
Operating Profit $326.0M $1.127B
YoY Change 7.24% 4.45%
Interest Expense -$86.00M -$311.0M
YoY Change 10.26% 1.63%
% of Operating Profit -26.38% -27.6%
Other Income/Expense, Net -$7.000M -$15.00M
YoY Change -36.36% -51.61%
Pretax Income $176.0M $611.0M
YoY Change -1.12% -17.65%
Income Tax $28.00M $95.00M
% Of Pretax Income 15.91% 15.55%
Net Earnings $148.0M $516.0M
YoY Change 3.5% -15.27%
Net Earnings / Revenue 4.67% 4.21%
Basic Earnings Per Share $4.48
Diluted Earnings Per Share $1.26 $4.38
COMMON SHARES
Basic Shares Outstanding 115.2M 114.6M 115.1M
Diluted Shares Outstanding 117.7M

Balance Sheet

Concept 2024 Q4 2024 Q3 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.095B $1.095B
YoY Change 72.99% -8.98%
Cash & Equivalents $1.095B $1.095B
Short-Term Investments
Other Short-Term Assets $244.0M $244.0M
YoY Change 6.55% 19.02%
Inventory $1.624B $1.624B
Prepaid Expenses
Receivables $1.604B $1.604B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.567B $4.567B
YoY Change 5.23% 0.75%
LONG-TERM ASSETS
Property, Plant & Equipment $4.575B $4.575B
YoY Change -13.06% -12.04%
Goodwill $5.090B
YoY Change 2.19%
Intangibles $1.534B
YoY Change -9.92%
Long-Term Investments
YoY Change
Other Assets $189.0M $189.0M
YoY Change 61.54% 11.83%
Total Long-Term Assets $12.04B $12.04B
YoY Change -1.39% -0.12%
TOTAL ASSETS
Total Short-Term Assets $4.567B $4.567B
Total Long-Term Assets $12.04B $12.04B
Total Assets $16.61B $16.61B
YoY Change 0.34% 0.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.766B $1.766B
YoY Change 52.37% 15.58%
Accrued Expenses $401.0M $401.0M
YoY Change 11.7% 3.08%
Deferred Revenue $106.0M
YoY Change -1.85%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $810.0M $810.0M
YoY Change 6650.0% 8000.0%
Total Short-Term Liabilities $2.855B $2.855B
YoY Change 22.8% 5.23%
LONG-TERM LIABILITIES
Long-Term Debt $8.315B $8.315B
YoY Change -9.62% -7.3%
Other Long-Term Liabilities $1.828B $1.828B
YoY Change 68.48% 63.95%
Total Long-Term Liabilities $10.14B $10.14B
YoY Change -1.38% 0.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.855B $2.855B
Total Long-Term Liabilities $10.14B $10.14B
Total Liabilities $13.00B $13.00B
YoY Change -1.25% -2.79%
SHAREHOLDERS EQUITY
Retained Earnings $2.581B
YoY Change 10.11%
Common Stock $1.322B
YoY Change 8.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.608B $3.608B
YoY Change
Total Liabilities & Shareholders Equity $16.61B $16.61B
YoY Change 0.34% 0.11%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2024
OPERATING ACTIVITIES
Net Income $148.0M $516.0M
YoY Change 3.5% -15.27%
Depreciation, Depletion And Amortization $217.0M $857.0M
YoY Change 4.83% 4.77%
Cash From Operating Activities $1.107B $1.404B
YoY Change 243.79% -13.07%
INVESTING ACTIVITIES
Capital Expenditures $78.00M $551.0M
YoY Change -55.43% -20.03%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$21.00M
YoY Change -75.86%
Cash From Investing Activities -$78.00M -$572.0M
YoY Change -55.43% -26.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$72.00M
YoY Change -112.74%
Debt Paid & Issued, Net $3.884B
YoY Change 346.95%
Cash From Financing Activities -464.0M -965.0M
YoY Change 116.82% -9.9%
NET CHANGE
Cash From Operating Activities 1.107B 1.404B
Cash From Investing Activities -78.00M -572.0M
Cash From Financing Activities -464.0M -965.0M
Net Change In Cash 565.0M -133.0M
YoY Change -943.28% -35.75%
FREE CASH FLOW
Cash From Operating Activities $1.107B $1.404B
Capital Expenditures $78.00M $551.0M
Free Cash Flow $1.029B $853.0M
YoY Change 600.0% -7.88%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-207000000
CY2022 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
709000000
CY2023 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
127000000
CY2024 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
120000000
CY2024 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
139000000
CY2024 us-gaap Fiscal Period
FiscalPeriod
<span style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000;">The Company’s U.S. based results for fiscal 2024 and fiscal 2023 are based on a fifty-two week period.  Fiscal 2022 was based on a fifty-three week period. </span>
CY2023 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
38000000
CY2024 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
49000000
CY2023 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
38000000
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
31000000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
34000000
CY2024Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
8315000000
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
8980000000
CY2024Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
810000000
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
10000000
CY2024Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
7505000000
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
8970000000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2593000000
CY2024Q3 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
32000000
CY2023Q3 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
0
CY2024 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
3000000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
0
CY2024 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
44000000
CY2024 bery Restructuring And Related Cost Number Of Facilities Shut Down
RestructuringAndRelatedCostNumberOfFacilitiesShutDown
0
CY2023 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
102000000
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
8000000
CY2024 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
190000000
CY2024 us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
-80000000
CY2024 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
2000000
CY2022 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
12200000
CY2022 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
709000000
CY2022 bery Stock Repurchased And Retired During Period Average Price Per Share
StockRepurchasedAndRetiredDuringPeriodAveragePricePerShare
58.3
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000

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