2024 Q2 Form 10-Q Financial Statement

#000113031024000066 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $1.905B $2.620B $2.779B
YoY Change 1.6% -5.72% 0.58%
Cost Of Revenue $0.00 $1.000M $40.00M
YoY Change -100.0% -97.5% 14.29%
Gross Profit $1.905B $2.619B $2.739B
YoY Change 4.79% -4.38% 0.4%
Gross Profit Margin 100.0% 99.96% 98.56%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $386.0M $363.0M $319.0M
YoY Change 10.6% 13.79% 0.31%
% of Gross Profit 20.26% 13.86% 11.65%
Operating Expenses $1.438B $2.004B $2.238B
YoY Change -3.81% -10.46% -2.1%
Operating Profit $467.0M $616.0M $541.0M
YoY Change 22.89% 13.86% 13.42%
Interest Expense -$216.0M -$202.0M -$151.0M
YoY Change 31.71% 33.77% 122.06%
% of Operating Profit -46.25% -32.79% -27.91%
Other Income/Expense, Net -$206.0M -$188.0M -$138.0M
YoY Change -1684.62% 36.23% -154.55%
Pretax Income $261.0M $428.0M $403.0M
YoY Change 20.28% 6.2% -44.79%
Income Tax $33.00M $78.00M $78.00M
% Of Pretax Income 12.64% 18.22% 19.35%
Net Earnings $228.0M $350.0M $325.0M
YoY Change 115.09% 7.69% -38.79%
Net Earnings / Revenue 11.97% 13.36% 11.69%
Basic Earnings Per Share $0.36 $0.55 $0.50
Diluted Earnings Per Share $0.36 $0.55 $0.49
COMMON SHARES
Basic Shares Outstanding 639.7M shares 631.6M shares 629.8M shares
Diluted Shares Outstanding 641.8M shares 634.0M shares 633.1M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $543.0M $619.0M $662.0M
YoY Change -25.72% -6.5% -21.66%
Cash & Equivalents $66.00M $161.0M $114.0M
Short-Term Investments $477.0M $458.0M $548.0M
Other Short-Term Assets $2.016B $2.125B $815.0M
YoY Change 193.88% 160.74% -56.83%
Inventory $702.0M $663.0M $781.0M
Prepaid Expenses
Receivables $633.0M $675.0M $874.0M
Other Receivables $186.0M $204.0M $7.000M
Total Short-Term Assets $4.080B $4.286B $3.139B
YoY Change 45.61% 36.54% -25.05%
LONG-TERM ASSETS
Property, Plant & Equipment $30.22B $29.38B $27.60B
YoY Change 6.14% 6.45% 13.98%
Goodwill $3.943B $3.943B $4.294B
YoY Change -5.22% -8.17% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $211.0M $163.0M $222.0M
YoY Change -92.08% -26.58% -3.9%
Total Long-Term Assets $36.90B $35.91B $34.61B
YoY Change 4.54% 3.76% 11.6%
TOTAL ASSETS
Total Short-Term Assets $4.080B $4.286B $3.139B
Total Long-Term Assets $36.90B $35.91B $34.61B
Total Assets $40.98B $40.20B $37.75B
YoY Change 7.56% 6.48% 7.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.057B $753.0M $934.0M
YoY Change 27.04% -19.38% -9.85%
Accrued Expenses $247.0M $211.0M $157.0M
YoY Change 19.32% 34.39% 30.83%
Deferred Revenue $95.00M $97.00M $109.0M
YoY Change -12.84% -11.01% -0.91%
Short-Term Debt $2.000M $0.00 $500.0M
YoY Change 0.0% -100.0%
Long-Term Debt Due $608.0M $1.032B $219.0M
YoY Change -34.76% 371.23% -87.65%
Total Short-Term Liabilities $3.410B $3.430B $3.150B
YoY Change 7.1% 8.89% -31.6%
LONG-TERM LIABILITIES
Long-Term Debt $18.51B $18.12B $15.78B
YoY Change 15.48% 14.79% 30.37%
Other Long-Term Liabilities $744.0M $725.0M $793.0M
YoY Change -83.39% -8.58% -4.92%
Total Long-Term Liabilities $19.26B $18.84B $16.58B
YoY Change -6.11% 13.67% 28.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.410B $3.430B $3.150B
Total Long-Term Liabilities $19.26B $18.84B $16.58B
Total Liabilities $22.67B $22.27B $19.73B
YoY Change -18.26% 12.91% 12.43%
SHAREHOLDERS EQUITY
Retained Earnings $1.542B $1.442B $1.034B
YoY Change 49.42% 39.46% 50.95%
Common Stock $6.000M $6.000M $6.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.35B $9.998B $10.36B
YoY Change
Total Liabilities & Shareholders Equity $40.98B $40.20B $37.75B
YoY Change 7.56% 6.48% 7.24%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $228.0M $350.0M $325.0M
YoY Change 115.09% 7.69% -38.79%
Depreciation, Depletion And Amortization $386.0M $363.0M $319.0M
YoY Change 10.6% 13.79% 0.31%
Cash From Operating Activities $576.0M $538.0M $1.713B
YoY Change -25.1% -68.59% 195.34%
INVESTING ACTIVITIES
Capital Expenditures $812.0M $845.0M $1.123B
YoY Change -28.52% -24.76% -232.74%
Acquisitions
YoY Change
Other Investing Activities $56.00M -$1.000M $32.00M
YoY Change -59.12% -103.13% -277.78%
Cash From Investing Activities -$756.0M -$844.0M -$1.155B
YoY Change -24.32% -26.93% -159.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $22.00M $2.036B
YoY Change -98.92% 82.93%
Cash From Financing Activities 83.00M $376.0M -$519.0M
YoY Change -75.0% -172.45% -80.2%
NET CHANGE
Cash From Operating Activities 576.0M $538.0M $1.713B
Cash From Investing Activities -756.0M -$844.0M -$1.155B
Cash From Financing Activities 83.00M $376.0M -$519.0M
Net Change In Cash -97.00M $70.00M $39.00M
YoY Change -195.1% 79.49% -136.45%
FREE CASH FLOW
Cash From Operating Activities $576.0M $538.0M $1.713B
Capital Expenditures $812.0M $845.0M $1.123B
Free Cash Flow -$236.0M -$307.0M $590.0M
YoY Change -35.69% -152.03% -58.63%

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-32000000 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1000000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2000000 usd
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
3000000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
2000000 usd
CY2024Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
2000000 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
2000000 usd
CY2024Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2000000 usd
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2000000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12000000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13000000 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
502000000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
526000000 usd
CY2024Q1 cnp Lease Right Of Use Asset
LeaseRightOfUseAsset
514000000 usd
CY2023Q4 cnp Lease Right Of Use Asset
LeaseRightOfUseAsset
539000000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3000000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3000000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9000000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10000000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
12000000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
13000000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0415
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P5Y6M
CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0360
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0360
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3000000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3000000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3000000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2000000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1000000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1000000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1000000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14000000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2000000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
12000000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
5000000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
7000000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
7000000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
7000000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
7000000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
7000000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
166000000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
206000000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1000000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2000000 usd
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q1 us-gaap Revenues
Revenues
2779000000 usd

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