$COMM
CommScope Holding Company, Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022021344 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $2.318B $2.381B
YoY Change 4.22% 13.11%
Cost Of Revenue $1.570B $1.645B
YoY Change 2.03% 13.28%
Gross Profit $748.3M $736.3M
YoY Change 9.11% 12.76%
Gross Profit Margin 32.28% 30.92%
Selling, General & Admin $251.9M $281.7M
YoY Change -15.19% -10.37%
% of Gross Profit 33.66% 38.26%
Research & Development $159.4M $161.9M
YoY Change -4.89% -3.52%
% of Gross Profit 21.3% 21.99%
Depreciation & Amortization $167.0M $31.80M
YoY Change -12.34% -4.22%
% of Gross Profit 22.32% 4.32%
Operating Expenses $540.0M $580.7M
YoY Change -12.29% -8.12%
Operating Profit $208.3M $155.6M
YoY Change 197.15% 640.95%
Interest Expense -$169.7M $150.9M
YoY Change 22.26% 1.55%
% of Operating Profit -81.47% 96.98%
Other Income/Expense, Net $2.800M $5.400M
YoY Change -65.43% -116.72%
Pretax Income -$1.126B $10.70M
YoY Change 1103.21% -106.71%
Income Tax -$17.30M -$12.20M
% Of Pretax Income -114.02%
Net Earnings -$1.124B $22.90M
YoY Change 1191.72% -118.44%
Net Earnings / Revenue -48.48% 0.96%
Basic Earnings Per Share $0.04
Diluted Earnings Per Share -$5.42 $0.04
COMMON SHARES
Basic Shares Outstanding 208.3M 208.2M
Diluted Shares Outstanding 211.3

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $398.1M $145.5M
YoY Change 10.49% -64.64%
Cash & Equivalents $398.1M $145.5M
Short-Term Investments
Other Short-Term Assets $216.4M $252.1M
YoY Change -13.78% -6.14%
Inventory $1.588B $1.544B
Prepaid Expenses
Receivables $1.524B $1.676B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.726B $3.617B
YoY Change 4.09% 5.2%
LONG-TERM ASSETS
Property, Plant & Equipment $609.6M $611.8M
YoY Change -7.12% -7.94%
Goodwill $4.072B $5.150B
YoY Change -22.16% -1.98%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $803.7M $784.5M
YoY Change 5.13% 9.67%
Total Long-Term Assets $7.959B $9.140B
YoY Change -17.78% -6.86%
TOTAL ASSETS
Total Short-Term Assets $3.726B $3.617B
Total Long-Term Assets $7.959B $9.140B
Total Assets $11.69B $12.76B
YoY Change -11.87% -3.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.026B $999.2M
YoY Change -11.65% -14.61%
Accrued Expenses $952.1M $805.0M
YoY Change 6.36% 3.68%
Deferred Revenue $97.90M $106.1M
YoY Change 3.49% -1.94%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $32.00M $32.00M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $2.108B $2.021B
YoY Change -3.44% -3.14%
LONG-TERM LIABILITIES
Long-Term Debt $9.470B $9.577B
YoY Change -0.09% 1.01%
Other Long-Term Liabilities $380.6M $431.6M
YoY Change -22.45% -18.07%
Total Long-Term Liabilities $9.850B $10.01B
YoY Change -1.19% 0.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.108B $2.021B
Total Long-Term Liabilities $9.850B $10.01B
Total Liabilities $12.13B $12.21B
YoY Change -1.85% -0.68%
SHAREHOLDERS EQUITY
Retained Earnings -$3.502B -$2.393B
YoY Change 58.09% 12.45%
Common Stock $2.545B $2.544B
YoY Change 0.09% 0.22%
Preferred Stock
YoY Change
Treasury Stock (at cost) $292.6M $291.8M
YoY Change 5.33% 5.69%
Treasury Stock Shares $12.73M $12.65M
Shareholders Equity -$1.546B -$538.0M
YoY Change
Total Liabilities & Shareholders Equity $11.69B $12.76B
YoY Change -11.87% -3.73%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.124B $22.90M
YoY Change 1191.72% -118.44%
Depreciation, Depletion And Amortization $167.0M $31.80M
YoY Change -12.34% -4.22%
Cash From Operating Activities $386.7M -$87.60M
YoY Change -3218.55% -230.55%
INVESTING ACTIVITIES
Capital Expenditures $22.60M $23.60M
YoY Change -164.2% -34.44%
Acquisitions
YoY Change
Other Investing Activities $3.100M $200.0K
YoY Change -69.0% -84.62%
Cash From Investing Activities -$19.50M -$23.40M
YoY Change -22.62% -32.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -119.4M 33.00M
YoY Change 911.86% -152.97%
NET CHANGE
Cash From Operating Activities 386.7M -87.60M
Cash From Investing Activities -19.50M -23.40M
Cash From Financing Activities -119.4M 33.00M
Net Change In Cash 247.8M -78.00M
YoY Change -601.62% 160.87%
FREE CASH FLOW
Cash From Operating Activities $386.7M -$87.60M
Capital Expenditures $22.60M $23.60M
Free Cash Flow $364.1M -$111.2M
YoY Change 1496.93% -457.56%

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CY2022Q3 us-gaap Operating Lease Right Of Use Asset
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
46500000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
46700000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
128700000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
140800000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
175200000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
91700000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
64300000
us-gaap Interest Paid Net
InterestPaidNet
469600000
us-gaap Interest Paid Net
InterestPaidNet
455500000
CY2022Q3 us-gaap Debt Instrument Carrying Amount
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CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
17000000.0
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
20300000
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
83200000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
97200000
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
32000000.0
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
32000000.0
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9576800000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9478500000
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
32000000.0
CY2022Q3 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0653
CY2021Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0574
CY2022Q3 us-gaap Assets
Assets
12757800000
CY2021Q4 us-gaap Assets
Assets
13259500000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2381400000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2105300000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6910200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6362600000
CY2022Q3 comm Segment Adjusted Ebitda
SegmentAdjustedEBITDA
347600000
CY2021Q3 comm Segment Adjusted Ebitda
SegmentAdjustedEBITDA
259100000
comm Segment Adjusted Ebitda
SegmentAdjustedEBITDA
900500000
comm Segment Adjusted Ebitda
SegmentAdjustedEBITDA
856400000
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
134600000
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
153000000.0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
414300000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
461900000
CY2021Q3 comm Transaction Transformation And Integration Charges
TransactionTransformationAndIntegrationCharges
26200000
comm Transaction Transformation And Integration Charges
TransactionTransformationAndIntegrationCharges
36400000
comm Transaction Transformation And Integration Charges
TransactionTransformationAndIntegrationCharges
62700000
CY2022Q3 comm Purchase Accounting Adjustments
PurchaseAccountingAdjustments
1800000
CY2021Q3 comm Purchase Accounting Adjustments
PurchaseAccountingAdjustments
2800000
comm Purchase Accounting Adjustments
PurchaseAccountingAdjustments
5400000
comm Purchase Accounting Adjustments
PurchaseAccountingAdjustments
9000000.0
CY2022Q3 comm Patent Litigation Settlement
PatentLitigationSettlement
-100000
CY2021Q3 comm Patent Litigation Settlement
PatentLitigationSettlement
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comm Patent Litigation Settlement
PatentLitigationSettlement
-2300000
comm Patent Litigation Settlement
PatentLitigationSettlement
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CY2022Q3 comm Reserve For Russian Accounts Receivable
ReserveForRussianAccountsReceivable
1100000
CY2021Q3 comm Reserve For Russian Accounts Receivable
ReserveForRussianAccountsReceivable
0
comm Reserve For Russian Accounts Receivable
ReserveForRussianAccountsReceivable
-2700000
comm Reserve For Russian Accounts Receivable
ReserveForRussianAccountsReceivable
0
CY2022Q3 us-gaap Depreciation
Depreciation
31800000
CY2021Q3 us-gaap Depreciation
Depreciation
33200000
us-gaap Depreciation
Depreciation
95500000
us-gaap Depreciation
Depreciation
103600000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
155600000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
21000000.0
us-gaap Operating Income Loss
OperatingIncomeLoss
245500000
us-gaap Operating Income Loss
OperatingIncomeLoss
-11500000
CY2022Q3 us-gaap Depreciation
Depreciation
31800000
CY2021Q3 us-gaap Depreciation
Depreciation
33200000
us-gaap Depreciation
Depreciation
95500000
us-gaap Depreciation
Depreciation
103600000
CY2022Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23600000
CY2021Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
36000000.0
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
78700000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
96200000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2381400000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2105300000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6910200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6362600000
CY2022Q3 us-gaap Restructuring Charges
RestructuringCharges
2500000
CY2021Q3 us-gaap Restructuring Charges
RestructuringCharges
-3100000
us-gaap Restructuring Charges
RestructuringCharges
53100000
us-gaap Restructuring Charges
RestructuringCharges
100200000
CY2022Q3 us-gaap Restructuring Reserve
RestructuringReserve
64800000
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
69200000
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
106100000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M6D
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16400000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21000000.0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
45300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
61000000.0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0

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