2024 Q3 Form 10-Q Financial Statement

#000001427224000123 Filed on July 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $11.89B $12.20B
YoY Change 8.44% 8.69%
Cost Of Revenue $2.957B $3.267B
YoY Change 18.0% 15.04%
Gross Profit $8.935B $8.934B
YoY Change 5.61% 6.53%
Gross Profit Margin 75.13% 73.22%
Selling, General & Admin $1.983B $1.928B
YoY Change -1.0% 0.73%
% of Gross Profit 22.19% 21.58%
Research & Development $2.374B $2.899B
YoY Change 5.89% 28.73%
% of Gross Profit 26.57% 32.45%
Depreciation & Amortization $166.0M $161.0M
YoY Change 9.93% -93.38%
% of Gross Profit 1.86% 1.8%
Operating Expenses $4.357B $4.827B
YoY Change 2.64% -17.7%
Operating Profit $4.578B $4.107B
YoY Change 8.61% 62.91%
Interest Expense -$399.0M $87.00M
YoY Change -242.5% -135.51%
% of Operating Profit -8.72% 2.12%
Other Income/Expense, Net -$234.0M -$273.0M
YoY Change -190.7% 753.13%
Pretax Income $1.676B $1.286B
YoY Change -21.57% -30.82%
Income Tax $461.0M -$398.0M
% Of Pretax Income 27.51% -30.95%
Net Earnings $1.211B $1.680B
YoY Change -37.19% -18.96%
Net Earnings / Revenue 10.18% 13.77%
Basic Earnings Per Share $0.60 $0.83
Diluted Earnings Per Share $0.60 $0.83
COMMON SHARES
Basic Shares Outstanding 2.027B shares 2.027B shares
Diluted Shares Outstanding 2.031B shares 2.029B shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.094B $6.653B
YoY Change 3.25% -23.79%
Cash & Equivalents $7.890B $6.293B
Short-Term Investments $204.0M $360.0M
Other Short-Term Assets $5.623B $5.737B
YoY Change -21.98% 198.65%
Inventory $3.332B $3.077B
Prepaid Expenses
Receivables $9.317B $9.746B
Other Receivables $5.185B $5.014B
Total Short-Term Assets $28.08B $26.89B
YoY Change 1.6% -4.22%
LONG-TERM ASSETS
Property, Plant & Equipment $6.903B $6.845B
YoY Change 6.51% -10.28%
Goodwill $21.75B $21.73B
YoY Change 2.86% 2.69%
Intangibles $26.96B $29.43B
YoY Change -6.86% -5.99%
Long-Term Investments $578.0M $622.0M
YoY Change 3.77% -68.76%
Other Assets $6.044B $6.071B
YoY Change 15.92% 82.37%
Total Long-Term Assets $65.60B $67.76B
YoY Change 3.09% 3.58%
TOTAL ASSETS
Total Short-Term Assets $28.08B $26.89B
Total Long-Term Assets $65.60B $67.76B
Total Assets $93.67B $94.65B
YoY Change 2.64% 1.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.469B $3.751B
YoY Change 23.32% 22.22%
Accrued Expenses $13.31B $11.03B
YoY Change 21.99% 18.44%
Deferred Revenue
YoY Change
Short-Term Debt $1.078B $3.531B
YoY Change -80.28% 482.67%
Long-Term Debt Due $873.0M $3.092B
YoY Change -82.08% 28.09%
Total Short-Term Liabilities $22.64B $23.27B
YoY Change -3.51% 15.46%
LONG-TERM LIABILITIES
Long-Term Debt $48.67B $48.86B
YoY Change 51.46% 40.98%
Other Long-Term Liabilities $4.728B $4.993B
YoY Change -23.78% -15.4%
Total Long-Term Liabilities $53.40B $53.85B
YoY Change 39.29% 32.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.64B $23.27B
Total Long-Term Liabilities $53.40B $53.85B
Total Liabilities $76.47B $77.58B
YoY Change 22.94% 26.11%
SHAREHOLDERS EQUITY
Retained Earnings $16.10B $16.10B
YoY Change -42.95% -41.33%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $43.68B $43.69B
YoY Change 1.39% 10.11%
Treasury Stock Shares
Shareholders Equity $17.14B $17.02B
YoY Change
Total Liabilities & Shareholders Equity $93.67B $94.65B
YoY Change 2.64% 1.24%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $1.211B $1.680B
YoY Change -37.19% -18.96%
Depreciation, Depletion And Amortization $166.0M $161.0M
YoY Change 9.93% -93.38%
Cash From Operating Activities $5.591B $2.326B
YoY Change 17.68% 23.26%
INVESTING ACTIVITIES
Capital Expenditures $324.0M $262.0M
YoY Change -5.26% 1.16%
Acquisitions
YoY Change
Other Investing Activities $105.0M -$1.057B
YoY Change -254.41% 1410.0%
Cash From Investing Activities -$219.0M -$1.319B
YoY Change -46.59% 300.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.852B -4.023B
YoY Change -25.35% 85.14%
NET CHANGE
Cash From Operating Activities 5.591B 2.326B
Cash From Investing Activities -219.0M -1.319B
Cash From Financing Activities -3.852B -4.023B
Net Change In Cash 1.520B -3.016B
YoY Change -285.59% 390.41%
FREE CASH FLOW
Cash From Operating Activities $5.591B $2.326B
Capital Expenditures $324.0M $262.0M
Free Cash Flow $5.267B $2.064B
YoY Change 19.46% 26.78%

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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates and Judgments</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues, expenses, assets and liabilities can vary during each quarter of the year. Accordingly, the results and trends in these unaudited consolidated financial statements may not be indicative of full year operating results. The preparation of financial statements requires the use of management estimates, judgments and assumptions. The most significant assumptions are estimates used in determining accounting for acquisitions; impairments of intangible assets; charge-backs, cash discounts, sales rebates, returns and other adjustments; legal contingencies; and income taxes. Actual results may differ from estimates.</span></div>
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