2023 Q2 Form 10-Q Financial Statement

#000002882323000117 Filed on May 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $922.2M $858.1M $829.8M
YoY Change 8.28% 3.41% -12.09%
Cost Of Revenue $697.0M $648.8M $644.5M
YoY Change 2.83% 0.67% -3.91%
Gross Profit $225.2M $209.3M $185.3M
YoY Change 29.5% 12.95% -32.17%
Gross Profit Margin 24.42% 24.39% 22.33%
Selling, General & Admin $201.0M $183.8M $181.0M
YoY Change 28.93% 1.55% -11.01%
% of Gross Profit 89.25% 87.82% 97.68%
Research & Development $25.40M $26.40M $32.30M
YoY Change -1.55% -18.27% -5.28%
% of Gross Profit 11.28% 12.61% 17.43%
Depreciation & Amortization $31.10M $11.70M $14.50M
YoY Change -3.42% -19.31% -26.77%
% of Gross Profit 13.81% 5.59% 7.83%
Operating Expenses $229.1M $211.4M $268.7M
YoY Change 26.09% -21.32% 13.38%
Operating Profit -$3.900M -$2.100M -$83.40M
YoY Change -50.0% -97.48% -330.39%
Interest Expense $69.70M $81.90M $48.10M
YoY Change -250.54% 70.27% -1.23%
% of Operating Profit
Other Income/Expense, Net -$697.6M -$88.20M -$48.90M
YoY Change -15265.22% 80.37% 16.43%
Pretax Income -$701.5M -$90.30M -$132.3M
YoY Change 426.65% -31.75% 2181.03%
Income Tax -$24.80M $21.10M $50.90M
% Of Pretax Income
Net Earnings -$677.1M -$111.1M -$183.1M
YoY Change 239.91% -39.32% 2160.49%
Net Earnings / Revenue -73.42% -12.95% -22.07%
Basic Earnings Per Share -$8.46 -$1.40 -$2.33
Diluted Earnings Per Share -$8.46 -$1.40 -$2.327M
COMMON SHARES
Basic Shares Outstanding 80.04M shares 79.61M shares 78.70M shares
Diluted Shares Outstanding 80.00M shares 79.30M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $552.8M $263.0M $266.8M
YoY Change 96.52% -1.42% 4.18%
Cash & Equivalents $541.8M $246.4M $224.7M
Short-Term Investments $11.00M $16.60M $42.10M
Other Short-Term Assets $224.5M $219.5M $233.7M
YoY Change -37.98% -6.08% -5.23%
Inventory $648.3M $639.5M $620.8M
Prepaid Expenses $46.70M $53.20M $49.50M
Receivables $655.9M $627.1M $549.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.136B $1.809B $1.782B
YoY Change 15.56% 1.55% -0.64%
LONG-TERM ASSETS
Property, Plant & Equipment $119.1M $120.1M $131.5M
YoY Change 1.62% -8.67% -16.08%
Goodwill $713.4M $702.2M $731.9M
YoY Change -4.06% -5.12%
Intangibles $226.8M $245.1M $324.2M
YoY Change -24.4% -21.06%
Long-Term Investments $7.000M $7.400M $9.700M
YoY Change -14.63% -23.71% -6.73%
Other Assets $248.0M $251.9M $287.8M
YoY Change 8.3% -12.47% -8.58%
Total Long-Term Assets $1.269B $1.282B $1.535B
YoY Change -4.82% -16.51% -10.9%
TOTAL ASSETS
Total Short-Term Assets $2.136B $1.809B $1.782B
Total Long-Term Assets $1.269B $1.282B $1.535B
Total Assets $3.406B $3.091B $3.317B
YoY Change 7.02% -6.81% -5.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $504.1M $636.4M $623.9M
YoY Change -29.8% 2.0% 14.08%
Accrued Expenses $142.3M $121.9M $165.2M
YoY Change 5.25% -26.21% -17.97%
Deferred Revenue
YoY Change
Short-Term Debt $417.0M $0.00 $0.00
YoY Change
Long-Term Debt Due $1.252B $83.70M $10.40M
YoY Change 11491.67% 704.81% -5.45%
Total Short-Term Liabilities $3.090B $1.743B $1.663B
YoY Change 86.54% 4.84% 2.06%
LONG-TERM LIABILITIES
Long-Term Debt $4.400M $2.572B $2.341B
YoY Change -99.82% 9.88% 3.07%
Other Long-Term Liabilities $95.60M $107.1M $136.0M
YoY Change -57.57% -21.25% -7.29%
Total Long-Term Liabilities $95.60M $107.1M $136.0M
YoY Change -96.37% -21.25% -7.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.090B $1.743B $1.663B
Total Long-Term Liabilities $95.60M $107.1M $136.0M
Total Liabilities $3.296B $1.850B $1.799B
YoY Change -25.76% 2.86% 1.29%
SHAREHOLDERS EQUITY
Retained Earnings -$2.195B -$1.518B -$1.006B
YoY Change 50.95% 34.0%
Common Stock $953.3M $952.6M $939.6M
YoY Change 1.38% 1.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $586.4M $586.4M $585.4M
YoY Change 0.17% 0.6%
Treasury Stock Shares 16.64M shares
Shareholders Equity -$2.135B -$1.485B -$1.017B
YoY Change
Total Liabilities & Shareholders Equity $3.406B $3.091B $3.317B
YoY Change 7.02% -6.81% -5.66%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$677.1M -$111.1M -$183.1M
YoY Change 239.91% -39.32% 2160.49%
Depreciation, Depletion And Amortization $31.10M $11.70M $14.50M
YoY Change -3.42% -19.31% -26.77%
Cash From Operating Activities -$241.0M -$95.90M -$226.2M
YoY Change 196.07% -57.6% 246.93%
INVESTING ACTIVITIES
Capital Expenditures $5.500M $5.700M -$4.000M
YoY Change -234.15% -242.5% 60.0%
Acquisitions
YoY Change
Other Investing Activities $600.0K $4.000M -$1.800M
YoY Change -80.0% -322.22% -131.58%
Cash From Investing Activities -$4.900M -$1.700M -$5.800M
YoY Change 345.45% -70.69% -281.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.000M
YoY Change -13.79%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 542.3M $21.10M $65.60M
YoY Change 372.8% -67.84% -363.45%
NET CHANGE
Cash From Operating Activities -241.0M -$95.90M -$226.2M
Cash From Investing Activities -4.900M -$1.700M -$5.800M
Cash From Financing Activities 542.3M $21.10M $65.60M
Net Change In Cash 296.4M -$74.60M -$164.9M
YoY Change 820.5% -54.76% 85.91%
FREE CASH FLOW
Cash From Operating Activities -$241.0M -$95.90M -$226.2M
Capital Expenditures $5.500M $5.700M -$4.000M
Free Cash Flow -$246.5M -$101.6M -$222.2M
YoY Change 218.89% -54.28% 254.39%

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TreasuryStockValueAcquiredCostMethod
3300000 usd
CY2022Q1 us-gaap Warrants And Rights Outstanding
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0 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q1 dei Document Period End Date
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2023-03-31
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-360000000.0 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
5000000.0 usd
CY2023Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-1300000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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6300000 usd
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 dei Document Period End Date
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2023-03-31
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
13000000.0 usd
CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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13100000 usd
CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2022Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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CY2022Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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CY2023Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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CY2023Q1 dei Document Period End Date
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2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
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CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
17500000 usd
CY2022Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
21800000 usd
CY2023Q1 dbd Benefit Plan Plan Assets Reimbursementfrom Cta
BenefitPlanPlanAssetsReimbursementfromCTA
17000000.0 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dbd Fair Value Transfers Between Levels Amount
FairValueTransfersBetweenLevelsAmount
0 usd
CY2022Q1 dbd Fair Value Transfers Between Levels Amount
FairValueTransfersBetweenLevelsAmount
0 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
2573.8 usd
CY2023Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1441 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
2557.6 usd
CY2017Q1 dbd Shares Repurchased Of Redeemable Noncontrolling Interest
SharesRepurchasedOfRedeemableNoncontrollingInterest
6900000 shares
CY2019Q2 dbd Shares Repurchased Of Redeemable Noncontrolling Interest
SharesRepurchasedOfRedeemableNoncontrollingInterest
1400000 shares
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
140600000 usd
CY2022Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
173200000 usd
CY2023Q1 dbd Revenue From Contract With Customer Percentage
RevenueFromContractWithCustomerPercentage
1
CY2022Q1 dbd Revenue From Contract With Customer Percentage
RevenueFromContractWithCustomerPercentage
1
CY2022Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
612200000 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
453200000 usd
CY2023Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
627100000 usd
CY2023Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
486700000 usd
CY2023Q1 dbd Impairment Losses Recognized As Bad Debt Expense
ImpairmentLossesRecognizedAsBadDebtExpense
7200000 usd
CY2022Q1 dbd Impairment Losses Recognized As Bad Debt Expense
ImpairmentLossesRecognizedAsBadDebtExpense
4600000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
453200000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2022Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
122100000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2022Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1400000000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
200000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
200000 usd
CY2023Q1 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
100000 usd
CY2022Q4 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
100000 usd
CY2023Q1 dbd Capital Leases Net Investment In Sales Type Leases Minimum Payments To Be Received And Unguaranteed Residual Values
CapitalLeasesNetInvestmentInSalesTypeLeasesMinimumPaymentsToBeReceivedAndUnguaranteedResidualValues
29300000 usd
CY2022Q4 dbd Capital Leases Net Investment In Sales Type Leases Minimum Payments To Be Received And Unguaranteed Residual Values
CapitalLeasesNetInvestmentInSalesTypeLeasesMinimumPaymentsToBeReceivedAndUnguaranteedResidualValues
28000000.0 usd
CY2023Q1 dbd Capital Leases Net Investment In Sales Type Leases Unearned Interest Income
CapitalLeasesNetInvestmentInSalesTypeLeasesUnearnedInterestIncome
1500000 usd
CY2022Q4 dbd Capital Leases Net Investment In Sales Type Leases Unearned Interest Income
CapitalLeasesNetInvestmentInSalesTypeLeasesUnearnedInterestIncome
1500000 usd
CY2023Q1 dbd Capital Leases Net Investment In Sales Type Leases Receivable Net
CapitalLeasesNetInvestmentInSalesTypeLeasesReceivableNet
27800000 usd
CY2022Q4 dbd Capital Leases Net Investment In Sales Type Leases Receivable Net
CapitalLeasesNetInvestmentInSalesTypeLeasesReceivableNet
26500000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
7300000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
5900000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
5200000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
5000000.0 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
3700000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
2300000 usd
CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
29400000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 us-gaap Revenues
Revenues
858100000 usd
CY2022Q1 us-gaap Revenues
Revenues
829800000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2100000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-83400000 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-88200000 usd
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-48900000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-90300000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-132300000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 us-gaap Revenues
Revenues
858100000 usd
CY2022Q1 us-gaap Revenues
Revenues
829800000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
50700000 usd
CY2023Q1 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
38400000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
19.6 usd
CY2023Q1 us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
0.8 usd
CY2022Q1 us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
0.5 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31

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