2023 Q2 Form 10-Q Financial Statement

#000113031023000061 Filed on April 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $1.875B $2.779B
YoY Change -3.55% 0.58%
Cost Of Revenue $57.00M $40.00M
YoY Change 1.79% 14.29%
Gross Profit $1.818B $2.739B
YoY Change -3.71% 0.4%
Gross Profit Margin 96.96% 98.56%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $349.0M $319.0M
YoY Change 6.73% 0.31%
% of Gross Profit 19.2% 11.65%
Operating Expenses $1.495B $2.238B
YoY Change -6.15% -2.1%
Operating Profit $380.0M $541.0M
YoY Change 8.26% 13.42%
Interest Expense -$164.0M -$151.0M
YoY Change 54.72% 122.06%
% of Operating Profit -43.16% -27.91%
Other Income/Expense, Net $13.00M -$138.0M
YoY Change -112.15% -154.55%
Pretax Income $217.0M $403.0M
YoY Change -11.07% -44.79%
Income Tax $99.00M $78.00M
% Of Pretax Income 45.62% 19.35%
Net Earnings $106.0M $325.0M
YoY Change -44.21% -38.79%
Net Earnings / Revenue 5.65% 11.69%
Basic Earnings Per Share $0.17 $0.50
Diluted Earnings Per Share $0.17 $0.49
COMMON SHARES
Basic Shares Outstanding 631.0M shares 629.8M shares
Diluted Shares Outstanding 633.0M shares 633.1M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $731.0M $662.0M
YoY Change -39.74% -21.66%
Cash & Equivalents $214.0M $114.0M
Short-Term Investments $517.0M $548.0M
Other Short-Term Assets $686.0M $815.0M
YoY Change -62.06% -56.83%
Inventory $729.0M $781.0M
Prepaid Expenses
Receivables $638.0M $874.0M
Other Receivables $18.00M $7.000M
Total Short-Term Assets $2.802B $3.139B
YoY Change -36.93% -25.05%
LONG-TERM ASSETS
Property, Plant & Equipment $28.47B $27.60B
YoY Change 13.81% 13.98%
Goodwill $4.160B $4.294B
YoY Change -3.12% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.664B $222.0M
YoY Change 1063.32% -3.9%
Total Long-Term Assets $35.30B $34.61B
YoY Change 11.08% 11.6%
TOTAL ASSETS
Total Short-Term Assets $2.802B $3.139B
Total Long-Term Assets $35.30B $34.61B
Total Assets $38.10B $37.75B
YoY Change 5.19% 7.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $832.0M $934.0M
YoY Change -19.46% -9.85%
Accrued Expenses $207.0M $157.0M
YoY Change 39.86% 30.83%
Deferred Revenue $109.0M $109.0M
YoY Change -0.91% -0.91%
Short-Term Debt $2.000M $500.0M
YoY Change -71.43%
Long-Term Debt Due $932.0M $219.0M
YoY Change -47.4% -87.65%
Total Short-Term Liabilities $3.184B $3.150B
YoY Change -26.26% -31.6%
LONG-TERM LIABILITIES
Long-Term Debt $16.03B $15.78B
YoY Change 21.12% 30.37%
Other Long-Term Liabilities $4.479B $793.0M
YoY Change 433.85% -4.92%
Total Long-Term Liabilities $20.51B $16.58B
YoY Change 45.72% 28.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.184B $3.150B
Total Long-Term Liabilities $20.51B $16.58B
Total Liabilities $27.73B $19.73B
YoY Change 50.76% 12.43%
SHAREHOLDERS EQUITY
Retained Earnings $1.032B $1.034B
YoY Change 34.38% 50.95%
Common Stock $6.000M $6.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.37B $10.36B
YoY Change
Total Liabilities & Shareholders Equity $38.10B $37.75B
YoY Change 5.19% 7.24%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $106.0M $325.0M
YoY Change -44.21% -38.79%
Depreciation, Depletion And Amortization $349.0M $319.0M
YoY Change 6.73% 0.31%
Cash From Operating Activities $769.0M $1.713B
YoY Change 93.22% 195.34%
INVESTING ACTIVITIES
Capital Expenditures $1.136B $1.123B
YoY Change -209.86% -232.74%
Acquisitions
YoY Change
Other Investing Activities $137.0M $32.00M
YoY Change 226.19% -277.78%
Cash From Investing Activities -$999.0M -$1.155B
YoY Change 0.71% -159.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.036B
YoY Change 82.93%
Cash From Financing Activities 332.0M -$519.0M
YoY Change -67.58% -80.2%
NET CHANGE
Cash From Operating Activities 769.0M $1.713B
Cash From Investing Activities -999.0M -$1.155B
Cash From Financing Activities 332.0M -$519.0M
Net Change In Cash 102.0M $39.00M
YoY Change -76.28% -136.45%
FREE CASH FLOW
Cash From Operating Activities $769.0M $1.713B
Capital Expenditures $1.136B $1.123B
Free Cash Flow -$367.0M $590.0M
YoY Change -125.63% -58.63%

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EarningsPerShareDiluted
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CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q1 us-gaap Revenues
Revenues
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CY2023Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Revenues
Revenues
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CY2022Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
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CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2022Q1 us-gaap Income Taxes Paid Net
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CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
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CY2022Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
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CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2023Q1 cnp Disallowance Of Regulatory Asset
DisallowanceOfRegulatoryAsset
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CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2023Q1 cnp Short Term Lease Cost Net Of Regulatory Asset Adjustment
ShortTermLeaseCostNetOfRegulatoryAssetAdjustment
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CY2022Q1 cnp Short Term Lease Cost Net Of Regulatory Asset Adjustment
ShortTermLeaseCostNetOfRegulatoryAssetAdjustment
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CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
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CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
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CY2023Q1 us-gaap Lease Cost
LeaseCost
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CY2022Q1 us-gaap Lease Cost
LeaseCost
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CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
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CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
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CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
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CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
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CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
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CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
621000000 usd
CY2023Q1 cnp Lease Right Of Use Asset
LeaseRightOfUseAsset
616000000 usd
CY2022Q4 cnp Lease Right Of Use Asset
LeaseRightOfUseAsset
640000000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5000000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5000000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0386
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0380
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0360
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0360
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5000000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4000000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2000000 usd
CY2023Q1 cnp Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
20000000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2000000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
18000000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
4000000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
7000000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
7000000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
7000000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
7000000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
6000000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
154000000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
192000000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2000000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
171000000 usd

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