2023 Q2 Form 10-K Financial Statement

#000168856823000030 Filed on May 19, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2023
Revenue $3.446B $3.591B $14.43B
YoY Change -7.04% -10.4% -11.28%
Cost Of Revenue $2.719B $2.742B $11.25B
YoY Change -7.2% -13.26% -11.33%
Gross Profit $727.0M $849.0M $3.184B
YoY Change -6.44% 0.24% -11.11%
Gross Profit Margin 21.1% 23.64% 22.07%
Selling, General & Admin $327.0M $387.0M $1.375B
YoY Change -6.3% 24.04% -2.34%
% of Gross Profit 44.98% 45.58% 43.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $351.0M $382.0M $1.551B
YoY Change -11.81% -11.78% -10.96%
% of Gross Profit 48.28% 44.99% 48.71%
Operating Expenses $636.0M $2.116B $1.375B
YoY Change 82.23% -3878.57% -2.34%
Operating Profit $91.00M -$1.267B $1.157B
YoY Change -64.86% -240.31% -15.85%
Interest Expense -$9.000M -$17.00M $200.0M
YoY Change -124.32% -41.38% -1.96%
% of Operating Profit -9.89% 17.29%
Other Income/Expense, Net -$1.189B
YoY Change -208.68%
Pretax Income $78.00M -$1.163B -$885.0M
YoY Change -36.07% -245.56% -177.56%
Income Tax $36.00M -$405.0M -$319.0M
% Of Pretax Income 46.15%
Net Earnings $36.00M -$756.0M -$568.0M
YoY Change -64.71% -242.64% -179.11%
Net Earnings / Revenue 1.04% -21.05% -3.94%
Basic Earnings Per Share $0.17 -$2.48
Diluted Earnings Per Share $0.17 -$3.38 -$2.48
COMMON SHARES
Basic Shares Outstanding 211.3M shares 227.7M shares 229.0M shares
Diluted Shares Outstanding 213.8M shares 229.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.576B $1.858B $1.858B
YoY Change -28.66% -30.46% -30.46%
Cash & Equivalents $1.576B $1.858B $1.858B
Short-Term Investments
Other Short-Term Assets $883.0M $255.0M $825.0M
YoY Change 227.04% -4.85% -10.33%
Inventory
Prepaid Expenses $652.0M $565.0M
Receivables $3.285B $3.441B $3.441B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.744B $6.124B $6.124B
YoY Change -16.12% -17.75% -17.75%
LONG-TERM ASSETS
Property, Plant & Equipment $2.771B $2.888B $2.888B
YoY Change -14.4% -18.53% -18.53%
Goodwill $539.0M $539.0M
YoY Change -7.39% -12.64%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.798B $3.247B $3.725B
YoY Change -17.47% -33.05% -27.71%
Total Long-Term Assets $9.549B $9.721B $9.721B
YoY Change -19.07% -23.41% -23.41%
TOTAL ASSETS
Total Short-Term Assets $5.744B $6.124B $6.124B
Total Long-Term Assets $9.549B $9.721B $9.721B
Total Assets $15.29B $15.85B $15.85B
YoY Change -17.99% -21.32% -21.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $701.0M $782.0M $782.0M
YoY Change -11.82% -6.9% -6.9%
Accrued Expenses $2.503B $1.836B $2.722B
YoY Change 0.97% -36.29% -29.11%
Deferred Revenue $1.008B $1.054B
YoY Change 7.46% 0.09%
Short-Term Debt $349.0M $109.0M $109.0M
YoY Change -10.97% -69.89% -69.89%
Long-Term Debt Due $345.0M $176.0M $500.0M
YoY Change 40.82% -29.32% -7.06%
Total Short-Term Liabilities $5.057B $5.187B $5.187B
YoY Change -19.18% -24.31% -24.31%
LONG-TERM LIABILITIES
Long-Term Debt $3.891B $3.900B $3.900B
YoY Change 0.44% -4.06% -4.06%
Other Long-Term Liabilities $2.163B $449.0M $2.351B
YoY Change 116.3% -60.48% -17.57%
Total Long-Term Liabilities $6.054B $4.349B $6.251B
YoY Change 24.21% -16.38% -9.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.057B $5.187B $5.187B
Total Long-Term Liabilities $6.054B $4.349B $6.251B
Total Liabilities $12.02B $12.03B $12.03B
YoY Change -11.64% -18.55% -20.3%
SHAREHOLDERS EQUITY
Retained Earnings -$4.445B -$4.665B
YoY Change 4.86% 4.83%
Common Stock $2.000M $2.000M
YoY Change 0.0% -33.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $217.0M $187.0M
YoY Change 18.58% 8.09%
Treasury Stock Shares 3.334M shares
Shareholders Equity $3.278B $3.497B $3.820B
YoY Change
Total Liabilities & Shareholders Equity $15.29B $15.85B $15.85B
YoY Change -17.99% -21.32% -21.32%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2023
OPERATING ACTIVITIES
Net Income $36.00M -$756.0M -$568.0M
YoY Change -64.71% -242.64% -179.11%
Depreciation, Depletion And Amortization $351.0M $382.0M $1.551B
YoY Change -11.81% -11.78% -10.96%
Cash From Operating Activities $127.0M $919.0M $1.415B
YoY Change -22.09% 253.46% -5.73%
INVESTING ACTIVITIES
Capital Expenditures $202.0M $146.0M $267.0M
YoY Change 197.06% -182.02% 5.12%
Acquisitions $0.00
YoY Change
Other Investing Activities $3.000M -$190.0M -$19.00M
YoY Change -160.0% -860.0% -53.66%
Cash From Investing Activities -$199.0M -$336.0M -$635.0M
YoY Change 3.65% 119.61% 958.33%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $63.00M
YoY Change -97.81%
Cash From Financing Activities -210.0M -814.0M -$1.507B
YoY Change -46.7% 127.37% -17.11%
NET CHANGE
Cash From Operating Activities 127.0M 919.0M $1.415B
Cash From Investing Activities -199.0M -336.0M -$635.0M
Cash From Financing Activities -210.0M -814.0M -$1.507B
Net Change In Cash -282.0M -231.0M -$814.0M
YoY Change -39.09% -7.97% 175.0%
FREE CASH FLOW
Cash From Operating Activities $127.0M $919.0M $1.415B
Capital Expenditures $202.0M $146.0M $267.0M
Free Cash Flow -$75.00M $773.0M $1.148B
YoY Change -178.95% 76.48% -7.94%

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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2023 dxc Effective Income Tax Rate Reconciliation Withholding Taxes Percent
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2023 dxc Effective Income Tax Rate Reconciliation Capital Losses Percent
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CY2021 dxc Effective Income Tax Rate Reconciliation Capital Losses Percent
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CY2023 dxc Effective Income Tax Rate Reconciliation Indemnification Costs Percent
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CY2022 dxc Effective Income Tax Rate Reconciliation Indemnification Costs Percent
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CY2021 dxc Effective Income Tax Rate Reconciliation Indemnification Costs Percent
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2023 us-gaap Income Tax Reconciliation Tax Credits
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2023 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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CY2023 us-gaap Income Tax Reconciliation Disposition Of Business
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2022 us-gaap Income Tax Reconciliation Tax Credits
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2022 us-gaap Income Tax Reconciliation Tax Contingencies
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2021 us-gaap Income Tax Reconciliation Disposition Of Business
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Income Tax Reconciliation Tax Credits
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2021 us-gaap Income Tax Reconciliation Tax Contingencies
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2023Q1 dxc Deferred Tax Assets Accrued Interest
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CY2022Q1 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2022Q1 dxc Deferred Tax Liabilities Deferred Expense Employee Benefits
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