2022 Q4 Form 10-K Financial Statement

#000175178823000014 Filed on February 01, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $11.86B $56.90B
YoY Change -17.44% 3.52%
Cost Of Revenue $10.66B $48.34B
YoY Change -9.53% 9.38%
Gross Profit $1.203B $8.564B
YoY Change -53.48% -20.53%
Gross Profit Margin 10.14% 15.05%
Selling, General & Admin $386.0M $1.675B
YoY Change -11.47% 1.82%
% of Gross Profit 32.09% 19.56%
Research & Development $225.0M $851.0M
YoY Change 0.0% -0.7%
% of Gross Profit 18.7% 9.94%
Depreciation & Amortization $654.0M $2.758B
YoY Change -0.15% -2.96%
% of Gross Profit 54.36% 32.2%
Operating Expenses $691.0M $2.526B
YoY Change -7.62% 0.96%
Operating Profit $512.0M $6.038B
YoY Change -72.14% -27.03%
Interest Expense -$221.0M -$338.0M
YoY Change -354.02% -216.15%
% of Operating Profit -43.16% -5.6%
Other Income/Expense, Net $93.00M $727.0M
YoY Change -2.11% -2177.14%
Pretax Income $865.0M $6.090B
YoY Change -59.16% -25.23%
Income Tax $218.0M $1.450B
% Of Pretax Income 25.2% 23.81%
Net Earnings $610.0M $4.640B
YoY Change -64.86% -27.56%
Net Earnings / Revenue 5.14% 8.15%
Basic Earnings Per Share $6.32
Diluted Earnings Per Share $855.5K $6.28
COMMON SHARES
Basic Shares Outstanding 704.9M shares 721.0M shares
Diluted Shares Outstanding 725.6M shares

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.886B $3.886B
YoY Change 20.2% 30.05%
Cash & Equivalents $3.886B $3.886B
Short-Term Investments $939.0M
Other Short-Term Assets $1.848B $1.746B
YoY Change 97.86% 104.21%
Inventory $6.988B $6.988B
Prepaid Expenses
Receivables $5.611B $5.713B
Other Receivables $2.144B $2.144B
Total Short-Term Assets $20.48B $20.48B
YoY Change -1.78% -1.78%
LONG-TERM ASSETS
Property, Plant & Equipment $20.44B $21.67B
YoY Change -0.55% -1.36%
Goodwill $8.644B
YoY Change -1.37%
Intangibles $2.442B
YoY Change -15.24%
Long-Term Investments $1.589B $4.382B
YoY Change -22.3% -16.34%
Other Assets $1.363B $2.307B
YoY Change -6.39% -17.25%
Total Long-Term Assets $40.13B $40.13B
YoY Change -4.78% -4.78%
TOTAL ASSETS
Total Short-Term Assets $20.48B $20.48B
Total Long-Term Assets $40.13B $40.13B
Total Assets $60.60B $60.60B
YoY Change -3.79% -3.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.940B $4.940B
YoY Change -11.42% -11.42%
Accrued Expenses $2.770B $2.782B
YoY Change -20.43% -22.42%
Deferred Revenue $275.0M
YoY Change 31.58%
Short-Term Debt $362.0M $362.0M
YoY Change 124.84% 124.84%
Long-Term Debt Due $362.0M $362.0M
YoY Change 56.71% 56.71%
Total Short-Term Liabilities $11.33B $11.33B
YoY Change -14.33% -14.33%
LONG-TERM LIABILITIES
Long-Term Debt $14.70B $14.70B
YoY Change 2.93% 2.93%
Other Long-Term Liabilities $6.555B $12.22B
YoY Change -0.71% -24.77%
Total Long-Term Liabilities $6.555B $26.92B
YoY Change -0.71% -11.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.33B $11.33B
Total Long-Term Liabilities $6.555B $26.92B
Total Liabilities $17.89B $39.89B
YoY Change -9.79% -11.02%
SHAREHOLDERS EQUITY
Retained Earnings $23.18B
YoY Change 12.4%
Common Stock $8.540B
YoY Change 4.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.871B
YoY Change 138.22%
Treasury Stock Shares
Shareholders Equity $20.72B $20.72B
YoY Change
Total Liabilities & Shareholders Equity $60.60B $60.60B
YoY Change -3.79% -3.79%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $610.0M $4.640B
YoY Change -64.86% -27.56%
Depreciation, Depletion And Amortization $654.0M $2.758B
YoY Change -0.15% -2.96%
Cash From Operating Activities $2.078B $7.475B
YoY Change -19.3% 6.65%
INVESTING ACTIVITIES
Capital Expenditures -$601.0M -$1.830B
YoY Change -47.97% -16.63%
Acquisitions $228.0M
YoY Change 76.74%
Other Investing Activities -$1.030B $50.00M
YoY Change 359.82% 400.0%
Cash From Investing Activities -$1.631B -$2.970B
YoY Change 18.27% 1.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.113B
YoY Change 210.74%
Debt Paid & Issued, Net $121.0M
YoY Change -53.28%
Cash From Financing Activities 1.152B -$3.361B
YoY Change -205.01% -44.64%
NET CHANGE
Cash From Operating Activities 2.078B $7.475B
Cash From Investing Activities -1.631B -$2.970B
Cash From Financing Activities 1.152B -$3.361B
Net Change In Cash 1.599B $907.0M
YoY Change 1515.15% -143.71%
FREE CASH FLOW
Cash From Operating Activities $2.078B $7.475B
Capital Expenditures -$601.0M -$1.830B
Free Cash Flow $2.679B $9.305B
YoY Change -28.18% 1.1%

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<div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates in Financial Statement Preparation</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The Company’s consolidated financial statements include amounts that are based on management’s best estimates and judgments. Actual results could differ from those estimates.</span></div>
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CY2021Q4 us-gaap Asset Retirement Obligation
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FinanceLeaseWeightedAverageRemainingLeaseTerm1
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CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2022Q4 us-gaap Finance Lease Liability Payments Due After Year Five
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q4 us-gaap Finance Lease Liability Payments Due
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CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2022Q4 us-gaap Finance Lease Liability
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LesseeAdditionalLeasesNotyetCommencedTermofContract
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CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.80
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CommonStockDividendsPerShareDeclared
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UndistributedEarningsOfNonconsolidatedAffiliates
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CY2019Q2 us-gaap Stock Repurchase Program Authorized Amount1
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CY2020Q4 us-gaap Assets
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CY2021 us-gaap Profit Loss
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CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2021 dow Operating Ebit
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CY2021 dow Chargesrelatedtoseparationdistributionandtaxmattersagreements
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CY2020 us-gaap Restructuring Charges
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