2022 Q2 Form 10-K Financial Statement

#000143774922017530 Filed on July 21, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 2021 Q2
Revenue $2.910B $11.54B $2.740B
YoY Change 6.22% 3.14% -16.68%
Cost Of Revenue $2.190B $8.697B $2.010B
YoY Change 8.98% 8.64% -14.64%
Gross Profit $719.7M $2.839B $729.7M
YoY Change -1.37% -10.71% -21.82%
Gross Profit Margin 24.73% 24.61% 26.64%
Selling, General & Admin $314.1M $1.493B $338.6M
YoY Change -7.24% 6.4% -7.71%
% of Gross Profit 43.64% 52.59% 46.4%
Research & Development $53.40M
YoY Change 4.09%
% of Gross Profit 1.88%
Depreciation & Amortization $89.80M $375.4M $98.10M
YoY Change -8.46% -3.17% 1.76%
% of Gross Profit 12.48% 13.22% 13.44%
Operating Expenses $295.1M $1.546B $325.3M
YoY Change -9.28% 6.32% -17.48%
Operating Profit $424.6M $1.588B $404.4M
YoY Change 5.0% -25.85% -25.0%
Interest Expense -$96.20M -$383.2M -$98.40M
YoY Change -2.24% -8.85% -21.72%
% of Operating Profit -22.66% -24.14% -24.33%
Other Income/Expense, Net
YoY Change
Pretax Income $136.9M $1.179B $201.3M
YoY Change -31.99% -21.14% -15.49%
Income Tax $26.70M $290.5M -$75.20M
% Of Pretax Income 19.5% 24.65% -37.36%
Net Earnings $158.9M $888.2M $309.5M
YoY Change -48.66% -31.61% 53.67%
Net Earnings / Revenue 5.46% 7.7% 11.3%
Basic Earnings Per Share $1.85
Diluted Earnings Per Share $329.5K $1.84 $640.0K
COMMON SHARES
Basic Shares Outstanding 480.1M 480.3M
Diluted Shares Outstanding 482.2M

Balance Sheet

Concept 2022 Q2 2022 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.30M $83.30M $85.80M
YoY Change -2.91% 5.18% -84.72%
Cash & Equivalents $83.30M $83.30M $79.20M
Short-Term Investments $6.600M
Other Short-Term Assets $143.3M $143.3M $95.00M
YoY Change 50.84% 50.84% 1.17%
Inventory $1.940B $1.940B $1.710B
Prepaid Expenses
Receivables $867.4M $867.4M $793.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.034B $3.034B $2.702B
YoY Change 12.27% 12.27% -6.37%
LONG-TERM ASSETS
Property, Plant & Equipment $2.714B $2.922B $2.572B
YoY Change 5.52% 4.45% 8.73%
Goodwill $11.33B $11.34B
YoY Change -0.09% 0.11%
Intangibles $3.853B $4.125B
YoY Change -6.58% -4.13%
Long-Term Investments $918.3M
YoY Change 9.09%
Other Assets $1.473B $379.3M $1.345B
YoY Change 9.56% 17.21% 5.6%
Total Long-Term Assets $19.40B $19.40B $19.49B
YoY Change -0.47% -0.47% 0.39%
TOTAL ASSETS
Total Short-Term Assets $3.034B $3.034B $2.702B
Total Long-Term Assets $19.40B $19.40B $19.49B
Total Assets $22.44B $22.44B $22.20B
YoY Change 1.08% 1.08% -0.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.865B $1.865B $1.656B
YoY Change 12.6% 12.6% 8.93%
Accrued Expenses $760.9M $760.9M $919.8M
YoY Change -17.28% -17.28% 0.74%
Deferred Revenue
YoY Change
Short-Term Debt $184.3M $184.3M $707.4M
YoY Change -73.95% -73.95% 64209.09%
Long-Term Debt Due $707.3M $707.3M $23.10M
YoY Change 2961.9% 2961.9% -97.27%
Total Short-Term Liabilities $3.519B $3.519B $3.306B
YoY Change 6.43% 6.43% 0.57%
LONG-TERM LIABILITIES
Long-Term Debt $8.088B $8.088B $8.275B
YoY Change -2.26% -2.26% -7.03%
Other Long-Term Liabilities $1.964B $1.966B $1.980B
YoY Change -0.81% -0.85% -8.57%
Total Long-Term Liabilities $10.05B $10.05B $10.25B
YoY Change -1.98% -1.99% -7.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.519B $3.519B $3.306B
Total Long-Term Liabilities $10.05B $10.05B $10.25B
Total Liabilities $13.57B $13.65B $13.56B
YoY Change 0.06% 0.03% -5.5%
SHAREHOLDERS EQUITY
Retained Earnings $6.551B $6.263B
YoY Change 4.6% 14.46%
Common Stock $5.246B $5.263B
YoY Change -0.33% 0.36%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.998B $2.980B
YoY Change 0.59% 9.16%
Treasury Stock Shares $104.2M $103.9M
Shareholders Equity $8.788B $8.788B $8.552B
YoY Change
Total Liabilities & Shareholders Equity $22.44B $22.44B $22.20B
YoY Change 1.08% 1.08% -0.49%

Cashflow Statement

Concept 2022 Q2 2022 2021 Q2
OPERATING ACTIVITIES
Net Income $158.9M $888.2M $309.5M
YoY Change -48.66% -31.61% 53.67%
Depreciation, Depletion And Amortization $89.80M $375.4M $98.10M
YoY Change -8.46% -3.17% 1.76%
Cash From Operating Activities $424.7M $1.177B $398.1M
YoY Change 6.68% -19.81% -57.47%
INVESTING ACTIVITIES
Capital Expenditures -$100.2M $464.4M -$109.7M
YoY Change -8.66% -8.29% 5.28%
Acquisitions
YoY Change
Other Investing Activities $8.200M -$3.300M $51.30M
YoY Change -84.02% 398.06%
Cash From Investing Activities -$92.00M -$434.9M -$58.40M
YoY Change 57.53% 27.8% -37.81%
FINANCING ACTIVITIES
Cash Dividend Paid $581.8M
YoY Change 22.59%
Common Stock Issuance & Retirement, Net $50.00M
YoY Change -83.23%
Debt Paid & Issued, Net $48.50M
YoY Change -98.07%
Cash From Financing Activities -331.0M -$738.0M -346.0M
YoY Change -4.34% -54.15% -10.32%
NET CHANGE
Cash From Operating Activities 424.7M $1.177B 398.1M
Cash From Investing Activities -92.00M -$434.9M -58.40M
Cash From Financing Activities -331.0M -$738.0M -346.0M
Net Change In Cash 1.700M $3.100M -6.300M
YoY Change -126.98% -100.65% -101.38%
FREE CASH FLOW
Cash From Operating Activities $424.7M $1.177B $398.1M
Capital Expenditures -$100.2M $464.4M -$109.7M
Free Cash Flow $524.9M $712.9M $507.8M
YoY Change 3.37% -25.87% -51.19%

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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
24500000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
17700000 usd
CY2022Q2 cag Lessee Operating And Finance Lease Liability Payments Due Year Five
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearFive
42200000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
94900000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
58300000 usd
CY2022Q2 cag Lessee Operating And Finance Lease Liability Payments Due After Year Five
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueAfterYearFive
153200000 usd
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
25800000 usd
CY2022Q2 cag Lessee Operating And Finance Lease Liability Undiscounted Excess Amount
LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
67600000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
240600000 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
131300000 usd
CY2022Q2 cag Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
371900000 usd
CY2022 cag Threshold Amount For Environmental Matters
ThresholdAmountForEnvironmentalMatters
1000000.0 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
7000000.0 usd
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
15500000 usd
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
2200000 usd
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
6900000 usd
CY2022Q2 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
20100000 usd
CY2022Q2 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
16100000 usd
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
84400000 usd
CY2022Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
27100000 usd
CY2022Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
18300000 usd
CY2021Q2 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
7400000 usd
CY2021Q2 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
5400000 usd
CY2021Q2 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation
135400000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11054400000 usd
CY2021Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
22900000 usd
CY2021Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
12300000 usd
CY2022 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
37100000 usd
CY2021 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
9500000 usd
CY2020 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-12900000 usd
CY2022Q2 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation
114900000 usd
CY2022Q2 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
114900000 usd
CY2021Q2 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
135400000 usd
CY2022 cag Defined Benefit Plan Recognized Net Actuarial Gain Loss Percentage
DefinedBenefitPlanRecognizedNetActuarialGainLossPercentage
0.10 pure
CY2022Q2 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
3294700000 usd
CY2022Q2 cag Fair Value Investments Ability To Impose Customary Redemption Gates
FairValueInvestmentsAbilityToImposeCustomaryRedemptionGates
29400000 usd
CY2022Q2 cag Fair Value Investments Impose Customary Redemption Gates
FairValueInvestmentsImposeCustomaryRedemptionGates
0 usd
CY2022Q2 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
DefinedBenefitPlanWeightedAverageAssetAllocations
1 pure
CY2021Q2 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
DefinedBenefitPlanWeightedAverageAssetAllocations
1 pure
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
1587600000 usd
CY2022Q2 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear
0.0632 pure
CY2021Q2 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear
0.0653 pure
CY2022Q2 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
0.0444 pure
CY2021Q2 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
0.0444 pure
CY2022 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2029
CY2021 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2029
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
193800000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
201300000 usd
CY2022 us-gaap Multiemployer Plan Pension Significant Plan Contribution
MultiemployerPlanPensionSignificantPlanContribution
8100000 usd
CY2021 us-gaap Multiemployer Plan Pension Significant Plan Contribution
MultiemployerPlanPensionSignificantPlanContribution
7400000 usd
CY2020 us-gaap Multiemployer Plan Pension Significant Plan Contribution
MultiemployerPlanPensionSignificantPlanContribution
6500000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
57900000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
47600000 usd
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
49900000 usd
CY2022Q2 us-gaap Derivative Assets
DerivativeAssets
7000000.0 usd
CY2022Q2 cag Deferred Compensation Assets Fair Value Disclosure
DeferredCompensationAssetsFairValueDisclosure
7500000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
7600000 usd
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
22100000 usd
CY2022Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
2200000 usd
CY2022Q2 cag Deferred Compensation Liabilities Fair Value Disclosure
DeferredCompensationLiabilitiesFairValueDisclosure
72600000 usd
CY2022Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
74800000 usd
CY2021Q2 us-gaap Derivative Assets
DerivativeAssets
15500000 usd
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
6600000 usd
CY2021Q2 cag Deferred Compensation Assets Fair Value Disclosure
DeferredCompensationAssetsFairValueDisclosure
8800000 usd
CY2021Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
30900000 usd
CY2021Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
6900000 usd
CY2021Q2 cag Deferred Compensation Liabilities Fair Value Disclosure
DeferredCompensationLiabilitiesFairValueDisclosure
81000000.0 usd
CY2021Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
87900000 usd
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2900000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
8800000000 usd
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
8300000000 usd
CY2022Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8850000000 usd
CY2021Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
9760000000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11535900000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11184700000 usd
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
73200000 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
241600000 usd
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
364800000 usd
CY2020 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
368500000 usd
CY2022 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-67300000 usd
CY2021 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-54500000 usd
CY2020 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
-9900000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
888200000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
1300900000 usd
CY2020 us-gaap Profit Loss
ProfitLoss
841800000 usd
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 usd
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2100000 usd
CY2020 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1700000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
888200000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
1298800000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
840100000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11535900000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11184700000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11054400000 usd
CY2022 us-gaap Depreciation
Depreciation
316100000 usd
CY2021 us-gaap Depreciation
Depreciation
328000000.0 usd
CY2020 us-gaap Depreciation
Depreciation
329100000 usd
CY2022 dei Auditor Name
AuditorName
KPMG LLP
CY2022 dei Auditor Location
AuditorLocation
Omaha, Nebraska
CY2022 dei Auditor Firm
AuditorFirmId
185

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