2023 Q3 Form 10-Q Financial Statement

#000159089523000091 Filed on August 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.994B $2.879B
YoY Change 3.71% 2.06%
Cost Of Revenue $1.435B $1.415B
YoY Change 3.39% 2.39%
Gross Profit $1.559B $1.464B
YoY Change 4.0% 1.74%
Gross Profit Margin 52.07% 50.85%
Selling, General & Admin $528.0M $499.0M
YoY Change -0.19% -3.48%
% of Gross Profit 33.87% 34.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $320.0M $323.0M
YoY Change 5.26% 5.56%
% of Gross Profit 20.53% 22.06%
Operating Expenses $848.0M $822.0M
YoY Change 1.8% -0.12%
Operating Profit $724.0M $642.0M
YoY Change 9.86% 6.64%
Interest Expense $597.0M -$586.0M
YoY Change 4.92% -204.83%
% of Operating Profit 82.46% -91.28%
Other Income/Expense, Net -$585.0M $3.000M
YoY Change -2.17% -100.58%
Pretax Income $139.0M $26.00M
YoY Change 127.87% -70.45%
Income Tax $47.00M -$902.0M
% Of Pretax Income 33.81% -3469.23%
Net Earnings $74.00M $920.0M
YoY Change 42.31% -847.97%
Net Earnings / Revenue 2.47% 31.96%
Basic Earnings Per Share $0.34 $4.27
Diluted Earnings Per Share $0.34 $4.26
COMMON SHARES
Basic Shares Outstanding 215.3M shares 215.2M shares
Diluted Shares Outstanding 216.0M shares 216.0M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $841.0M $1.122B
YoY Change -10.91% 12.54%
Cash & Equivalents $841.0M $1.122B
Short-Term Investments
Other Short-Term Assets $419.0M $426.0M
YoY Change -4.77% -87.33%
Inventory $45.00M $53.00M
Prepaid Expenses $289.0M $300.0M
Receivables $555.0M $526.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.860B $2.127B
YoY Change -3.93% -56.59%
LONG-TERM ASSETS
Property, Plant & Equipment $14.70B $14.63B
YoY Change 0.74% 0.18%
Goodwill $11.00B $11.00B
YoY Change -0.7% -0.7%
Intangibles $4.640B $4.661B
YoY Change -2.91% -3.14%
Long-Term Investments $91.00M $91.00M
YoY Change -5.21% -5.21%
Other Assets $884.0M $916.0M
YoY Change -20.29% -21.98%
Total Long-Term Assets $31.37B $31.35B
YoY Change -0.91% -1.32%
TOTAL ASSETS
Total Short-Term Assets $1.860B $2.127B
Total Long-Term Assets $31.37B $31.35B
Total Assets $33.23B $33.48B
YoY Change -1.09% -8.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $371.0M $299.0M
YoY Change 23.67% -7.43%
Accrued Expenses $2.125B $2.350B
YoY Change 3.36% 10.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $65.00M $68.00M
YoY Change -7.14% -2.86%
Total Short-Term Liabilities $2.561B $2.717B
YoY Change 5.56% -44.52%
LONG-TERM LIABILITIES
Long-Term Debt $12.23B $12.48B
YoY Change -4.88% -8.69%
Other Long-Term Liabilities $872.0M $860.0M
YoY Change 0.0% -3.48%
Total Long-Term Liabilities $13.10B $13.34B
YoY Change -4.57% -8.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.561B $2.717B
Total Long-Term Liabilities $13.10B $13.34B
Total Liabilities $28.49B $28.81B
YoY Change -4.09% -12.59%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.604B $4.545B
YoY Change
Total Liabilities & Shareholders Equity $33.23B $33.48B
YoY Change -1.09% -8.7%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $74.00M $920.0M
YoY Change 42.31% -847.97%
Depreciation, Depletion And Amortization $320.0M $323.0M
YoY Change 5.26% 5.56%
Cash From Operating Activities $348.0M $779.0M
YoY Change -1.42% 118.21%
INVESTING ACTIVITIES
Capital Expenditures $337.0M $316.0M
YoY Change -231.13% -221.07%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.000M
YoY Change -100.0% -95.31%
Cash From Investing Activities -$337.0M -$313.0M
YoY Change -245.89% 58.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -323.0M -362.0M
YoY Change -63.59% 217.54%
NET CHANGE
Cash From Operating Activities 348.0M 779.0M
Cash From Investing Activities -337.0M -313.0M
Cash From Financing Activities -323.0M -362.0M
Net Change In Cash -312.0M 104.0M
YoY Change 2.97% 126.09%
FREE CASH FLOW
Cash From Operating Activities $348.0M $779.0M
Capital Expenditures $337.0M $316.0M
Free Cash Flow $11.00M $463.0M
YoY Change -98.2% -25.08%

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<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
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