2023 Q1 Form 10-K Financial Statement

#000105829023000027 Filed on February 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $4.812B $4.839B $19.43B
YoY Change -0.29% 1.3% 4.98%
Cost Of Revenue $3.143B $3.152B $12.45B
YoY Change 1.49% 4.03% 7.27%
Gross Profit $1.669B $1.687B $6.980B
YoY Change -3.47% -3.43% 1.12%
Gross Profit Margin 34.68% 34.86% 35.93%
Selling, General & Admin $835.0M $860.0M $3.443B
YoY Change -3.13% -1.26% -1.71%
% of Gross Profit 50.03% 50.98% 49.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $132.0M $141.0M $569.0M
YoY Change -7.69% -2.08% -0.87%
% of Gross Profit 7.91% 8.36% 8.15%
Operating Expenses $835.0M $1.001B $4.012B
YoY Change -3.13% -1.38% 14.53%
Operating Profit $702.0M $686.0M $2.968B
YoY Change -3.04% -6.28% 5.02%
Interest Expense $9.000M $27.00M $47.00M
YoY Change 350.0% 575.0% 422.22%
% of Operating Profit 1.28% 3.94% 1.58%
Other Income/Expense, Net $36.00M $1.000M $1.000M
YoY Change 620.0% 0.0% 0.0%
Pretax Income $738.0M $714.0M $3.016B
YoY Change 1.23% -3.12% 268.7%
Income Tax $158.0M $193.0M $730.0M
% Of Pretax Income 21.41% 27.03% 24.2%
Net Earnings $580.0M $521.0M $2.290B
YoY Change 3.02% -9.55% 7.16%
Net Earnings / Revenue 12.05% 10.77% 11.79%
Basic Earnings Per Share $1.14 $4.42
Diluted Earnings Per Share $1.14 $1.016M $4.412M
COMMON SHARES
Basic Shares Outstanding 509.3M shares 513.9M shares 518.0M shares
Diluted Shares Outstanding 509.0M shares 519.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.481B $2.501B $2.501B
YoY Change 6.99% -8.02% -8.02%
Cash & Equivalents $2.458B $2.191B $2.191B
Short-Term Investments $23.00M $310.0M $310.0M
Other Short-Term Assets $1.029B $969.0M $969.0M
YoY Change -6.03% -9.1% 28.17%
Inventory
Prepaid Expenses
Receivables $3.718B $3.796B $3.796B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.228B $7.266B $7.266B
YoY Change 2.13% -1.04% -1.04%
LONG-TERM ASSETS
Property, Plant & Equipment $1.102B $1.977B $1.977B
YoY Change -5.89% 68.83% -6.04%
Goodwill $6.040B $5.710B
YoY Change 7.76% 1.6%
Intangibles $1.262B $1.168B
YoY Change 8.14% -4.11%
Long-Term Investments $62.00M $427.0M $427.0M
YoY Change -7.46% 577.78% -7.78%
Other Assets $583.0M $1.304B $1.304B
YoY Change -17.66% 86.02% 18.01%
Total Long-Term Assets $10.92B $10.59B $10.59B
YoY Change 5.43% 0.72% 0.72%
TOTAL ASSETS
Total Short-Term Assets $7.228B $7.266B $7.266B
Total Long-Term Assets $10.92B $10.59B $10.59B
Total Assets $18.15B $17.85B $17.85B
YoY Change 4.09% 0.0% 0.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $332.0M $360.0M $360.0M
YoY Change -15.74% -0.28% -0.28%
Accrued Expenses $1.784B $2.581B $2.581B
YoY Change -5.51% 14.3% 14.3%
Deferred Revenue
YoY Change
Short-Term Debt $16.00M $8.000M $0.00
YoY Change -57.89% -78.95%
Long-Term Debt Due $16.00M $8.000M $8.000M
YoY Change -57.89% -78.95% -82.61%
Total Short-Term Liabilities $3.321B $3.347B $3.347B
YoY Change 4.24% -5.16% -5.16%
LONG-TERM LIABILITIES
Long-Term Debt $630.0M $638.0M $638.0M
YoY Change 2.11% 1.92% 1.11%
Other Long-Term Liabilities $317.0M $1.378B $1.378B
YoY Change 10.84% 380.14% -7.08%
Total Long-Term Liabilities $947.0M $2.016B $2.016B
YoY Change 4.87% 120.81% -4.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.321B $3.347B $3.347B
Total Long-Term Liabilities $947.0M $2.016B $2.016B
Total Liabilities $5.486B $5.543B $5.543B
YoY Change 0.46% -5.43% -5.43%
SHAREHOLDERS EQUITY
Retained Earnings $12.86B $12.59B
YoY Change 7.53% 5.59%
Common Stock $5.000M $5.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.66B $12.31B $12.31B
YoY Change
Total Liabilities & Shareholders Equity $18.15B $17.85B $17.85B
YoY Change 4.09% 0.0% 0.0%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $580.0M $521.0M $2.290B
YoY Change 3.02% -9.55% 7.16%
Depreciation, Depletion And Amortization $132.0M $141.0M $569.0M
YoY Change -7.69% -2.08% -0.87%
Cash From Operating Activities $729.0M $702.0M $2.568B
YoY Change 138.24% -14.91% 2.93%
INVESTING ACTIVITIES
Capital Expenditures $98.00M -$90.00M -$332.0M
YoY Change -18.33% 38.46% -219.0%
Acquisitions $409.0M $367.0M
YoY Change -62.16%
Other Investing Activities -$117.0M $12.00M $226.0M
YoY Change -114.27% -102.77% -111.99%
Cash From Investing Activities -$215.0M -$78.00M -$106.0M
YoY Change -130.71% -84.34% -95.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.336B
YoY Change -273.28%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$350.0M -431.0M -1.939B
YoY Change -41.67% 119.9% 61.18%
NET CHANGE
Cash From Operating Activities $729.0M 702.0M 2.568B
Cash From Investing Activities -$215.0M -78.00M -106.0M
Cash From Financing Activities -$350.0M -431.0M -1.939B
Net Change In Cash $164.0M 193.0M 523.0M
YoY Change -59.0% 47.33% -158.9%
FREE CASH FLOW
Cash From Operating Activities $729.0M $702.0M $2.568B
Capital Expenditures $98.00M -$90.00M -$332.0M
Free Cash Flow $631.0M $792.0M $2.900B
YoY Change 239.25% -11.01% 30.87%

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The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying disclosures. We evaluate our estimates on a continuous basis. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements.
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