2023 Q1 Form 10-K Financial Statement

#000001427223000046 Filed on February 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $11.34B $11.41B $46.16B
YoY Change -2.67% -4.83% -0.49%
Cost Of Revenue $2.566B $2.520B $9.781B
YoY Change 3.84% 6.96% -1.6%
Gross Profit $8.771B $8.886B $36.38B
YoY Change -4.42% -7.72% -0.18%
Gross Profit Margin 77.37% 77.91% 78.81%
Selling, General & Admin $1.762B $2.266B $7.808B
YoY Change -3.77% -3.66% 1.53%
% of Gross Profit 20.09% 25.5% 21.46%
Research & Development $2.321B $2.510B $9.281B
YoY Change 2.7% -3.72% -18.26%
% of Gross Profit 26.46% 28.25% 25.51%
Depreciation & Amortization $2.429B $2.343B $9.595B
YoY Change -6.0% -9.15% -10.21%
% of Gross Profit 27.69% 26.37% 26.38%
Operating Expenses $4.083B $6.568B $24.57B
YoY Change -0.2% -3.98% 29.01%
Operating Profit $4.688B $2.318B $11.81B
YoY Change -7.83% -16.89% -32.14%
Interest Expense $288.0M -$47.00M -$1.862B
YoY Change -11.66% -94.02% -239.58%
% of Operating Profit 6.14% -2.03% -15.77%
Other Income/Expense, Net $413.0M -$39.00M -$90.00M
YoY Change -163.64% -4000.0% -112.5%
Pretax Income $2.770B $1.859B $7.713B
YoY Change 64.2% 0.05% -4.75%
Income Tax $503.0M -$166.0M $1.368B
% Of Pretax Income 18.16% -8.93% 17.74%
Net Earnings $2.262B $2.022B $6.327B
YoY Change 77.0% -14.76% -9.54%
Net Earnings / Revenue 19.95% 17.73% 13.71%
Basic Earnings Per Share $1.08 $2.97
Diluted Earnings Per Share $1.07 $952.0K $2.948M
COMMON SHARES
Basic Shares Outstanding 2.099B shares 2.126B shares 2.130B shares
Diluted Shares Outstanding 2.113B shares 2.146B shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.269B $9.253B $9.253B
YoY Change -38.07% -45.46% -45.46%
Cash & Equivalents $8.995B $9.123B $9.123B
Short-Term Investments $274.0M $130.0M $130.0M
Other Short-Term Assets $5.158B $5.795B $5.795B
YoY Change 13.66% 19.93% 19.93%
Inventory $2.605B $2.339B $2.339B
Prepaid Expenses
Receivables $7.854B $8.151B $8.151B
Other Receivables $5.046B $1.735B $1.735B
Total Short-Term Assets $27.09B $27.27B $27.27B
YoY Change -10.08% -18.01% -18.01%
LONG-TERM ASSETS
Property, Plant & Equipment $6.279B $6.255B $7.475B
YoY Change 3.84% 3.41% 7.28%
Goodwill $21.16B $21.15B
YoY Change 3.23% 3.16%
Intangibles $33.57B $35.86B
YoY Change -16.29% -15.68%
Long-Term Investments $524.0M $546.0M $2.187B
YoY Change -16.69% -18.02% -19.39%
Other Assets $4.868B $4.940B $2.877B
YoY Change 0.47% -10.75% -13.91%
Total Long-Term Assets $67.20B $69.55B $69.55B
YoY Change -7.84% -8.55% -8.55%
TOTAL ASSETS
Total Short-Term Assets $27.09B $27.27B $27.27B
Total Long-Term Assets $67.20B $69.55B $69.55B
Total Assets $94.28B $96.82B $96.82B
YoY Change -8.5% -11.43% -11.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.194B $3.040B $3.040B
YoY Change 8.49% 3.09% 3.09%
Accrued Expenses $8.589B $10.37B $10.37B
YoY Change 3.25% 2.67% 2.67%
Deferred Revenue
YoY Change
Short-Term Debt $2.752B $4.264B $367.0M
YoY Change -63.41% -13.82% 99.46%
Long-Term Debt Due $2.254B $3.897B $3.897B
YoY Change -69.11% -18.2% -18.2%
Total Short-Term Liabilities $19.09B $21.89B $21.89B
YoY Change -16.37% 0.1% 0.1%
LONG-TERM LIABILITIES
Long-Term Debt $35.08B $35.06B $35.06B
YoY Change -6.33% -11.49% -11.49%
Other Long-Term Liabilities $6.664B $6.590B $6.590B
YoY Change -8.82% -10.14% -10.14%
Total Long-Term Liabilities $41.74B $41.65B $41.65B
YoY Change -6.74% -11.28% -11.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.09B $21.89B $21.89B
Total Long-Term Liabilities $41.74B $41.65B $41.65B
Total Liabilities $62.40B $65.70B $65.76B
YoY Change -12.6% -10.38% -10.37%
SHAREHOLDERS EQUITY
Retained Earnings $26.57B $25.50B
YoY Change 10.94% 7.07%
Common Stock $292.0M $292.0M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $38.81B $38.62B
YoY Change 10.29% 23.54%
Treasury Stock Shares
Shareholders Equity $31.82B $31.06B $31.06B
YoY Change
Total Liabilities & Shareholders Equity $94.28B $96.82B $96.82B
YoY Change -8.5% -11.43% -11.43%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $2.262B $2.022B $6.327B
YoY Change 77.0% -14.76% -9.54%
Depreciation, Depletion And Amortization $2.429B $2.343B $9.595B
YoY Change -6.0% -9.15% -10.21%
Cash From Operating Activities $2.970B $3.306B $13.07B
YoY Change -22.09% -18.51% -19.38%
INVESTING ACTIVITIES
Capital Expenditures $278.0M $346.0M $1.118B
YoY Change 9.88% -208.13% 14.9%
Acquisitions $78.00M $4.286B
YoY Change -82.35% 166.21%
Other Investing Activities $68.00M $1.559B $56.00M
YoY Change -80.46% 116.23% -87.13%
Cash From Investing Activities -$210.0M $1.213B -$1.062B
YoY Change -321.05% 202.49% 97.4%
FINANCING ACTIVITIES
Cash Dividend Paid $1.196B $4.634B
YoY Change 0.93% 5.41%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.640B $11.43B
YoY Change -71.57% 89.82%
Cash From Financing Activities -$3.050B -3.246B -$16.96B
YoY Change -46.05% -18.17% 4.55%
NET CHANGE
Cash From Operating Activities $2.970B 3.306B $13.07B
Cash From Investing Activities -$210.0M 1.213B -$1.062B
Cash From Financing Activities -$3.050B -3.246B -$16.96B
Net Change In Cash -$277.0M 1.273B -$4.991B
YoY Change -84.05% 159.27% 659.67%
FREE CASH FLOW
Cash From Operating Activities $2.970B $3.306B $13.07B
Capital Expenditures $278.0M $346.0M $1.118B
Free Cash Flow $2.692B $2.960B $11.95B
YoY Change -24.36% -32.37% -21.57%

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