2021 Q1 Form 10-Q Financial Statement

#000175178821000105 Filed on April 23, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $11.88B $9.770B
YoY Change 21.62% -10.93%
Cost Of Revenue $10.06B $8.230B
YoY Change 22.26% -9.98%
Gross Profit $1.820B $1.540B
YoY Change 18.18% -15.71%
Gross Profit Margin 15.32% 15.76%
Selling, General & Admin $366.0M $334.0M
YoY Change 9.58% -25.45%
% of Gross Profit 20.11% 21.69%
Research & Development $194.0M $179.0M
YoY Change 8.38% -50.42%
% of Gross Profit 10.66% 11.62%
Depreciation & Amortization $717.0M $724.0M
YoY Change -0.97% -2.56%
% of Gross Profit 39.4% 47.01%
Operating Expenses $560.0M $513.0M
YoY Change 9.16% -36.59%
Operating Profit $1.260B $1.027B
YoY Change 22.69% 0.88%
Interest Expense $28.00M -$290.0M
YoY Change -109.66% 16.94%
% of Operating Profit 2.22% -28.24%
Other Income/Expense, Net $128.0M -$81.00M
YoY Change -258.02% -217.39%
Pretax Income $1.323B $396.0M
YoY Change 234.09% 33.33%
Income Tax $317.0M $138.0M
% Of Pretax Income 23.96% 34.85%
Net Earnings $991.0M $239.0M
YoY Change 314.64% -57.01%
Net Earnings / Revenue 8.34% 2.45%
Basic Earnings Per Share $1.32 $0.32
Diluted Earnings Per Share $1.32 $0.32
COMMON SHARES
Basic Shares Outstanding 744.8M shares 740.2M shares
Diluted Shares Outstanding 749.8M shares 742.0M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.205B $3.634B
YoY Change 15.71% 20.93%
Cash & Equivalents $4.133B $3.633B
Short-Term Investments $72.00M $1.000M
Other Short-Term Assets $608.0M $569.0M
YoY Change 6.85% -19.63%
Inventory $6.157B $6.324B
Prepaid Expenses
Receivables $5.576B $4.841B
Other Receivables $2.689B $2.770B
Total Short-Term Assets $19.16B $18.14B
YoY Change 5.65% -29.32%
LONG-TERM ASSETS
Property, Plant & Equipment $19.90B $20.81B
YoY Change -4.37% -11.43%
Goodwill $8.819B $8.780B
YoY Change 0.44% -36.43%
Intangibles $3.199B $3.636B
YoY Change -12.02% -23.34%
Long-Term Investments $1.620B $1.235B
YoY Change 31.17% -62.81%
Other Assets $1.266B $1.068B
YoY Change 18.54% 24.33%
Total Long-Term Assets $41.27B $42.55B
YoY Change -2.99% -21.32%
TOTAL ASSETS
Total Short-Term Assets $19.16B $18.14B
Total Long-Term Assets $41.27B $42.55B
Total Assets $60.44B $60.69B
YoY Change -0.41% -23.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.200B $3.769B
YoY Change 11.44% -26.14%
Accrued Expenses $3.431B $2.811B
YoY Change 22.06% -13.03%
Deferred Revenue $307.0M $196.0M
YoY Change 56.63% -15.88%
Short-Term Debt $152.0M $1.490B
YoY Change -89.8% 370.03%
Long-Term Debt Due $492.0M $384.0M
YoY Change 28.13% -83.79%
Total Short-Term Liabilities $11.35B $11.12B
YoY Change 2.1% -27.66%
LONG-TERM LIABILITIES
Long-Term Debt $16.20B $16.31B
YoY Change -0.69% -4.94%
Other Long-Term Liabilities $6.331B $6.937B
YoY Change -8.74% 16.1%
Total Long-Term Liabilities $6.331B $6.937B
YoY Change -8.74% 16.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.35B $11.12B
Total Long-Term Liabilities $6.331B $6.937B
Total Liabilities $17.69B $18.06B
YoY Change -2.07% -15.41%
SHAREHOLDERS EQUITY
Retained Earnings $16.83B $16.76B
YoY Change 0.39% -43.56%
Common Stock $7.751B $8.000M
YoY Change 96787.5%
Preferred Stock
YoY Change
Treasury Stock (at cost) $625.0M $625.0M
YoY Change 0.0%
Treasury Stock Shares 12.80M shares 12.80M shares
Shareholders Equity $14.00B $12.91B
YoY Change
Total Liabilities & Shareholders Equity $60.44B $60.69B
YoY Change -0.41% -23.89%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $991.0M $239.0M
YoY Change 314.64% -57.01%
Depreciation, Depletion And Amortization $717.0M $724.0M
YoY Change -0.97% -2.56%
Cash From Operating Activities -$291.0M $1.239B
YoY Change -123.49% -10.28%
INVESTING ACTIVITIES
Capital Expenditures -$291.0M -$395.0M
YoY Change -26.33% -10.63%
Acquisitions
YoY Change
Other Investing Activities $0.00 $242.0M
YoY Change -100.0% -532.14%
Cash From Investing Activities -$13.00M -$153.0M
YoY Change -91.5% -69.28%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net -$127.0M $109.0M
YoY Change -216.51% -489.29%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$595.0M $265.0M
YoY Change -324.53% -141.86%
NET CHANGE
Cash From Operating Activities -$291.0M $1.239B
Cash From Investing Activities -$13.00M -$153.0M
Cash From Financing Activities -$595.0M $265.0M
Net Change In Cash -$947.0M $1.265B
YoY Change -174.86% 591.26%
FREE CASH FLOW
Cash From Operating Activities -$291.0M $1.239B
Capital Expenditures -$291.0M -$395.0M
Free Cash Flow $0.00 $1.634B
YoY Change -100.0% -10.37%

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CY2020Q1 us-gaap Earnings Per Share Diluted
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WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q1 us-gaap Inventory Work In Process
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CY2020Q4 us-gaap Inventory Raw Materials
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CY2021Q1 us-gaap Inventory Adjustments
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CY2020Q4 us-gaap Inventory Adjustments
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EquityMethodInvestmentLiabilityNoncurrent
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EquityMethodInvestmentNetofInvestmentLiabilities
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EquityMethodInvestmentNetofInvestmentLiabilities
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CY2020Q4 us-gaap Goodwill
Goodwill
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GoodwillForeignCurrencyTranslationGainLoss
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CY2021Q1 us-gaap Goodwill
Goodwill
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IntangibleAssetsGrossExcludingGoodwill
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FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
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CY2020Q4 dow Long Term Debt Accumulated Fair Value Adjustment
LongTermDebtAccumulatedFairValueAdjustment
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187000000 USD
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
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CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
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CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
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CY2021Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
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CY2021Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
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CY2020Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
1244000000 USD
CY2021Q1 us-gaap Liability For Asbestos And Environmental Claims Gross
LiabilityForAsbestosAndEnvironmentalClaimsGross
1080000000 USD
CY2020Q4 us-gaap Liability For Asbestos And Environmental Claims Gross
LiabilityForAsbestosAndEnvironmentalClaimsGross
1098000000 USD
CY2021Q1 dow Asbestos Related Liability Pending Claims Percentage
AsbestosRelatedLiabilityPendingClaimsPercentage
0.24
CY2021Q1 dow Asbestos Related Liability Future Claims Percentage
AsbestosRelatedLiabilityFutureClaimsPercentage
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CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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