2023 Q1 Form 10-K Financial Statement

#000031361623000087 Filed on February 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $7.167B $8.369B $31.47B
YoY Change 15.77% 6.85%
Cost Of Revenue $2.797B $3.430B $12.52B
YoY Change 19.51% 8.88%
Gross Profit $4.370B $4.939B $18.95B
YoY Change 13.31% 5.55%
Gross Profit Margin 60.97% 59.02% 60.21%
Selling, General & Admin $2.147B $2.190B $8.516B
YoY Change 6.21% 3.88%
% of Gross Profit 49.13% 44.34% 44.94%
Research & Development $429.0M $453.0M $1.745B
YoY Change 2.72% 0.17%
% of Gross Profit 9.82% 9.17% 9.21%
Depreciation & Amortization $173.0M $565.0M $2.222B
YoY Change 1.99% 2.49%
% of Gross Profit 3.96% 11.44% 11.73%
Operating Expenses $2.576B $2.643B $10.26B
YoY Change 5.59% 3.23%
Operating Profit $1.794B $2.296B $8.688B
YoY Change 75.4% 16.38%
Interest Expense $68.00M -$35.00M -$170.0M
YoY Change -156.45% -171.43%
% of Operating Profit 3.79% -1.52% -1.96%
Other Income/Expense, Net $24.00M -$68.00M -$226.0M
YoY Change -149.64% -149.56%
Pretax Income $1.798B $2.193B $8.292B
YoY Change 58.11% 9.13%
Income Tax $348.0M -$39.00M $1.083B
% Of Pretax Income 19.35% -1.78% 13.06%
Net Earnings $1.450B $2.210B $7.103B
YoY Change 90.85% 10.42%
Net Earnings / Revenue 20.23% 26.41% 22.57%
Basic Earnings Per Share $1.96 $3.03 $9.80
Diluted Earnings Per Share $1.94 $2.964M $9.636M
COMMON SHARES
Basic Shares Outstanding 728.6M shares 728.0M shares 725.1M shares
Diluted Shares Outstanding 737.2M shares 737.1M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.379B $5.995B $5.995B
YoY Change 134.91% 131.83%
Cash & Equivalents $7.379B $5.995B $5.995B
Short-Term Investments
Other Short-Term Assets $1.373B $1.860B $1.860B
YoY Change 54.36% 17.05%
Inventory $3.383B $3.110B $3.110B
Prepaid Expenses
Receivables $4.313B $4.918B $4.918B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $16.53B $15.88B $15.88B
YoY Change 36.36% 36.36%
LONG-TERM ASSETS
Property, Plant & Equipment $4.065B $3.956B $3.956B
YoY Change 4.38% -18.11%
Goodwill $39.86B $39.75B
YoY Change -3.48%
Intangibles $19.98B $20.30B
YoY Change -11.13%
Long-Term Investments
YoY Change
Other Assets $4.611B $4.459B $4.459B
YoY Change 19.9% 66.5%
Total Long-Term Assets $68.51B $68.47B $68.47B
YoY Change -4.29% -4.29%
TOTAL ASSETS
Total Short-Term Assets $16.53B $15.88B $15.88B
Total Long-Term Assets $68.51B $68.47B $68.47B
Total Assets $85.04B $84.35B $84.35B
YoY Change 1.4% 1.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.081B $2.296B $2.296B
YoY Change 7.64% -10.63%
Accrued Expenses $5.078B $5.502B $5.502B
YoY Change -1.1% 232.85%
Deferred Revenue $1.456B
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.571B $591.0M $591.0M
YoY Change 8342.86% 7287.5%
Total Short-Term Liabilities $8.730B $8.389B $8.389B
YoY Change 3.06% 3.06%
LONG-TERM LIABILITIES
Long-Term Debt $18.26B $19.09B $19.09B
YoY Change -13.9% -13.9%
Other Long-Term Liabilities $6.563B $6.785B $6.785B
YoY Change -11.87% -11.87%
Total Long-Term Liabilities $24.82B $25.87B $25.87B
YoY Change -13.38% -13.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.730B $8.389B $8.389B
Total Long-Term Liabilities $24.82B $25.87B $25.87B
Total Liabilities $33.55B $34.27B $34.27B
YoY Change -9.84% -9.86%
SHAREHOLDERS EQUITY
Retained Earnings $40.44B $39.21B
YoY Change 19.43%
Common Stock $12.14B $12.08B
YoY Change 19.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $51.48B $50.08B $50.08B
YoY Change
Total Liabilities & Shareholders Equity $85.04B $84.35B $84.35B
YoY Change 1.4% 1.4%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $1.450B $2.210B $7.103B
YoY Change 90.85% 10.42%
Depreciation, Depletion And Amortization $173.0M $565.0M $2.222B
YoY Change 1.99% 2.49%
Cash From Operating Activities $1.947B $2.541B $8.519B
YoY Change 24.93% 1.93%
INVESTING ACTIVITIES
Capital Expenditures $275.0M -$329.0M -$1.152B
YoY Change 3.46% -189.03%
Acquisitions $0.00 $637.0M
YoY Change -94.19%
Other Investing Activities -$13.00M -$487.0M -$1.082B
YoY Change -94.99% 2824.32%
Cash From Investing Activities -$304.0M -$816.0M -$2.234B
YoY Change -91.88% -82.8%
FINANCING ACTIVITIES
Cash Dividend Paid $204.0M $818.0M
YoY Change 10.24%
Common Stock Issuance & Retirement, Net $31.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$262.0M -906.0M -2.570B
YoY Change -127.41% -298.46%
NET CHANGE
Cash From Operating Activities $1.947B 2.541B 8.519B
Cash From Investing Activities -$304.0M -816.0M -2.234B
Cash From Financing Activities -$262.0M -906.0M -2.570B
Net Change In Cash $1.384B 819.0M 3.715B
YoY Change -117.39% -207.71%
FREE CASH FLOW
Cash From Operating Activities $1.947B $2.541B $8.519B
Capital Expenditures $275.0M -$329.0M -$1.152B
Free Cash Flow $1.672B $2.870B $9.671B
YoY Change 22.02% 36.91%

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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The preparation of these financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. The Company bases these estimates on historical experience, the current economic environment and on various other assumptions that are believed to be reasonable under the circumstances. However, uncertainties associated with these estimates exist and actual results may differ materially from these estimates.</span>
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CY2021 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
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CY2020 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
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CY2021 us-gaap Dilutive Securities
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CY2020 us-gaap Dilutive Securities
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CY2022 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2021 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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