2024 Q1 Form 10-K Financial Statement

#000105147024000062 Filed on February 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.641B $1.674B $6.981B
YoY Change -7.45% -5.1% -0.07%
Cost Of Revenue $34.00M $455.0M $1.980B
YoY Change -93.45% -12.84% -4.26%
Gross Profit $1.607B $1.219B $5.001B
YoY Change 28.15% -1.85% 1.69%
Gross Profit Margin 97.93% 72.82% 71.64%
Selling, General & Admin $183.0M $178.0M $759.0M
YoY Change -6.15% -7.29% 1.2%
% of Gross Profit 11.39% 14.6% 15.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $439.0M $439.0M $1.754B
YoY Change 1.86% 1.86% 2.75%
% of Gross Profit 27.32% 36.01% 35.07%
Operating Expenses $183.0M $617.0M $2.513B
YoY Change -70.77% -0.96% 2.28%
Operating Profit $538.0M $602.0M $2.488B
YoY Change -14.33% -2.75% 1.1%
Interest Expense -$222.0M -$218.0M -$835.0M
YoY Change 11.0% 14.74% 19.97%
% of Operating Profit -41.26% -36.21% -33.56%
Other Income/Expense, Net $2.000M -$2.000M -$6.000M
YoY Change -166.67% -60.0% -40.0%
Pretax Income $318.0M $366.0M $1.528B
YoY Change -25.18% -11.81% -9.64%
Income Tax $7.000M $5.000M $26.00M
% Of Pretax Income 2.2% 1.37% 1.7%
Net Earnings $311.0M $361.0M $1.502B
YoY Change -25.6% -12.59% -10.33%
Net Earnings / Revenue 18.95% 21.57% 21.52%
Basic Earnings Per Share $0.72 $3.46
Diluted Earnings Per Share $0.71 $0.83 $3.46
COMMON SHARES
Basic Shares Outstanding 434.2M shares 433.7M shares 434.0M shares
Diluted Shares Outstanding 435.0M shares 434.0M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $125.0M $105.0M $105.0M
YoY Change -33.16% -32.69% -32.69%
Cash & Equivalents $125.0M $105.0M $105.0M
Short-Term Investments
Other Short-Term Assets $51.00M $330.0M $330.0M
YoY Change -88.62% -3.23% -3.23%
Inventory
Prepaid Expenses $130.0M $103.0M
Receivables $380.0M $481.0M $481.0M
Other Receivables $123.0M $116.0M $116.0M
Total Short-Term Assets $977.0M $1.032B $1.032B
YoY Change -26.26% -15.2% -15.2%
LONG-TERM ASSETS
Property, Plant & Equipment $15.68B $21.85B $21.85B
YoY Change -28.66% -0.36% -0.36%
Goodwill $10.09B $10.09B
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $137.0M $139.0M $139.0M
YoY Change 2.24% 2.21% 2.21%
Total Long-Term Assets $37.25B $37.50B $37.50B
YoY Change -1.26% -0.55% -0.55%
TOTAL ASSETS
Total Short-Term Assets $977.0M $1.032B $1.032B
Total Long-Term Assets $37.25B $37.50B $37.50B
Total Assets $38.23B $38.53B $38.53B
YoY Change -2.11% -1.01% -1.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $216.0M $252.0M $252.0M
YoY Change -7.3% 6.78% 6.78%
Accrued Expenses $752.0M $893.0M $893.0M
YoY Change -1.31% -5.0% -5.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $854.0M $835.0M $835.0M
YoY Change 4.27% 1.95% 1.95%
Total Short-Term Liabilities $2.336B $2.585B $2.585B
YoY Change -7.85% -5.35% -5.35%
LONG-TERM LIABILITIES
Long-Term Debt $22.56B $22.09B $22.09B
YoY Change 4.87% 5.62% 5.62%
Other Long-Term Liabilities $1.890B $7.475B $7.475B
YoY Change -75.72% -4.55% -4.55%
Total Long-Term Liabilities $1.890B $29.56B $29.56B
YoY Change -93.55% 2.85% 2.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.336B $2.585B $2.585B
Total Long-Term Liabilities $1.890B $29.56B $29.56B
Total Liabilities $32.18B $32.15B $32.15B
YoY Change 1.11% 2.14% 2.14%
SHAREHOLDERS EQUITY
Retained Earnings -$12.26B -$11.89B
YoY Change 12.19% 11.47%
Common Stock $4.000M $4.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.048B $6.381B $6.381B
YoY Change
Total Liabilities & Shareholders Equity $38.23B $38.53B $38.53B
YoY Change -2.11% -1.01% -1.01%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $311.0M $361.0M $1.502B
YoY Change -25.6% -12.59% -10.33%
Depreciation, Depletion And Amortization $439.0M $439.0M $1.754B
YoY Change 1.86% 1.86% 2.75%
Cash From Operating Activities $599.0M $867.0M $3.125B
YoY Change -1.16% 3.21% 8.58%
INVESTING ACTIVITIES
Capital Expenditures $320.0M $357.0M $1.424B
YoY Change -6.16% -191.77% -208.7%
Acquisitions $1.000M $96.00M
YoY Change -98.51% 174.29%
Other Investing Activities -$1.000M -$7.000M -$95.00M
YoY Change -98.48% -58.82% 126.19%
Cash From Investing Activities -$320.0M -$364.0M -$1.519B
YoY Change -21.38% -10.34% 12.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$30.00M
YoY Change -53.85%
Debt Paid & Issued, Net $750.0M
YoY Change -41.13%
Cash From Financing Activities -$261.0M -513.0M -1.654B
YoY Change 87.77% 12.5% -0.66%
NET CHANGE
Cash From Operating Activities $599.0M 867.0M 3.125B
Cash From Investing Activities -$320.0M -364.0M -1.519B
Cash From Financing Activities -$261.0M -513.0M -1.654B
Net Change In Cash $18.00M -10.00M -48.00M
YoY Change -70.0% -54.55% -65.47%
FREE CASH FLOW
Cash From Operating Activities $599.0M $867.0M $3.125B
Capital Expenditures $320.0M $357.0M $1.424B
Free Cash Flow $279.0M $510.0M $1.701B
YoY Change 5.28% -58.5% -59.38%

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