2024 Q2 Form 10-K Financial Statement

#000168856824000032 Filed on May 17, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2024
Revenue $3.236B $3.386B $13.67B
YoY Change -6.09% -5.71% -5.29%
Cost Of Revenue $2.526B $2.588B $10.58B
YoY Change -7.1% -5.62% -5.96%
Gross Profit $710.0M $798.0M $3.091B
YoY Change -2.34% -6.01% -2.92%
Gross Profit Margin 21.94% 23.57% 22.62%
Selling, General & Admin $301.0M $295.0M $1.244B
YoY Change -7.95% -23.77% -9.53%
% of Gross Profit 42.39% 36.97% 40.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $333.0M $357.0M $1.433B
YoY Change -5.13% -6.54% -7.61%
% of Gross Profit 46.9% 44.74% 46.36%
Operating Expenses $301.0M $1.050B $1.244B
YoY Change -52.67% -50.38% -9.53%
Operating Profit $222.0M -$252.0M $1.016B
YoY Change 143.96% -80.11% -12.19%
Interest Expense $72.00M -$20.00M $298.0M
YoY Change -900.0% 17.65% 49.0%
% of Operating Profit 32.43% 29.33%
Other Income/Expense, Net $40.00M -$408.0M -$265.0M
YoY Change -77.71%
Pretax Income $68.00M -$309.0M $109.0M
YoY Change -12.82% -73.43% -112.32%
Income Tax $43.00M -$114.0M $23.00M
% Of Pretax Income 63.24% 21.1%
Net Earnings $26.00M -$200.0M $91.00M
YoY Change -27.78% -73.54% -116.02%
Net Earnings / Revenue 0.8% -5.91% 0.67%
Basic Earnings Per Share $0.14 $0.46
Diluted Earnings Per Share $0.14 -$1.11 $0.46
COMMON SHARES
Basic Shares Outstanding 178.9M shares 182.9M shares 195.8M shares
Diluted Shares Outstanding 182.9M shares 198.8M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.317B $1.224B $1.224B
YoY Change -16.43% -34.12% -34.12%
Cash & Equivalents $1.317B $1.224B $1.224B
Short-Term Investments
Other Short-Term Assets $109.0M $146.0M $658.0M
YoY Change -87.66% -42.75% -20.24%
Inventory
Prepaid Expenses $541.0M $512.0M
Receivables $2.996B $3.253B $3.253B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.963B $5.135B $5.135B
YoY Change -13.6% -16.15% -16.15%
LONG-TERM ASSETS
Property, Plant & Equipment $2.186B $2.402B $2.402B
YoY Change -21.11% -16.83% -16.83%
Goodwill $531.0M $532.0M
YoY Change -1.48% -1.3%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.820B $2.857B $3.672B
YoY Change -25.75% -12.01% -1.42%
Total Long-Term Assets $8.390B $8.736B $8.736B
YoY Change -12.14% -10.13% -10.13%
TOTAL ASSETS
Total Short-Term Assets $4.963B $5.135B $5.135B
Total Long-Term Assets $8.390B $8.736B $8.736B
Total Assets $13.35B $13.87B $13.87B
YoY Change -12.69% -12.46% -12.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $676.0M $846.0M $846.0M
YoY Change -3.57% 8.18% 8.18%
Accrued Expenses $1.261B $1.437B $2.277B
YoY Change -49.62% -21.73% -16.35%
Deferred Revenue $762.0M $866.0M
YoY Change -24.4% -17.84%
Short-Term Debt $150.0M $0.00 $0.00
YoY Change -57.02% -100.0% -100.0%
Long-Term Debt Due $71.00M $93.00M $271.0M
YoY Change -79.42% -47.16% -45.8%
Total Short-Term Liabilities $4.093B $4.394B $4.394B
YoY Change -19.06% -15.29% -15.29%
LONG-TERM LIABILITIES
Long-Term Debt $3.766B $3.818B $3.818B
YoY Change -3.21% -2.1% -2.1%
Other Long-Term Liabilities $789.0M $446.0M $2.037B
YoY Change -63.52% -0.67% -13.36%
Total Long-Term Liabilities $4.555B $4.264B $5.855B
YoY Change -24.76% -1.95% -6.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.093B $4.394B $4.394B
Total Long-Term Liabilities $4.555B $4.264B $5.855B
Total Liabilities $10.25B $10.81B $10.81B
YoY Change -14.69% -10.15% -10.15%
SHAREHOLDERS EQUITY
Retained Earnings -$3.814B -$3.839B
YoY Change -14.2% -17.71%
Common Stock $2.000M $2.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $233.0M $219.0M
YoY Change 7.37% 17.11%
Treasury Stock Shares
Shareholders Equity $2.850B $2.811B $3.066B
YoY Change
Total Liabilities & Shareholders Equity $13.35B $13.87B $13.87B
YoY Change -12.69% -12.46% -12.46%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2024
OPERATING ACTIVITIES
Net Income $26.00M -$200.0M $91.00M
YoY Change -27.78% -73.54% -116.02%
Depreciation, Depletion And Amortization $333.0M $357.0M $1.433B
YoY Change -5.13% -6.54% -7.61%
Cash From Operating Activities $238.0M $280.0M $1.361B
YoY Change 87.4% -69.53% -3.82%
INVESTING ACTIVITIES
Capital Expenditures $48.00M $125.0M $182.0M
YoY Change -76.24% -14.38% -31.84%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.000M -$13.00M
YoY Change -100.0% -100.53% -31.58%
Cash From Investing Activities -$188.0M -$124.0M -$491.0M
YoY Change -5.53% -63.1% -22.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $898.0M
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities $41.00M -610.0M -$1.487B
YoY Change -119.52% -25.06% -1.33%
NET CHANGE
Cash From Operating Activities $238.0M 280.0M $1.361B
Cash From Investing Activities -$188.0M -124.0M -$491.0M
Cash From Financing Activities $41.00M -610.0M -$1.487B
Net Change In Cash $93.00M -454.0M -$634.0M
YoY Change -132.98% 96.54% -22.11%
FREE CASH FLOW
Cash From Operating Activities $238.0M $280.0M $1.361B
Capital Expenditures $48.00M $125.0M $182.0M
Free Cash Flow $190.0M $155.0M $1.179B
YoY Change -353.33% -79.95% 2.7%

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CY2023 dxc Income Tax Examination Penalties And Interest Expense Benefit
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CY2022 dxc Income Tax Examination Penalties And Interest Expense Benefit
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CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2024 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.023
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
1.511
CY2024 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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1.468
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
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CY2024 dxc Effective Income Tax Rate Reconciliation Withholding Taxes Percent
EffectiveIncomeTaxRateReconciliationWithholdingTaxesPercent
0.587
CY2023 dxc Effective Income Tax Rate Reconciliation Withholding Taxes Percent
EffectiveIncomeTaxRateReconciliationWithholdingTaxesPercent
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CY2022 dxc Effective Income Tax Rate Reconciliation Withholding Taxes Percent
EffectiveIncomeTaxRateReconciliationWithholdingTaxesPercent
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CY2024 us-gaap Effective Income Tax Rate 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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CY2022 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
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CY2024 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 Share Based Compensation Excess Tax Benefit Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2024 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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CY2024 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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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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CY2024 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.091
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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CY2024 us-gaap Effective Income Tax Rate 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 Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
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CY2024 dxc Effective Income Tax Rate Reconciliation Indemnification Costs Percent
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CY2023 dxc Effective Income Tax Rate Reconciliation Indemnification Costs Percent
EffectiveIncomeTaxRateReconciliationIndemnificationCostsPercent
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CY2022 dxc Effective Income Tax Rate Reconciliation Indemnification Costs Percent
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
EffectiveIncomeTaxRateReconciliationTaxSettlements
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2024 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2024 dxc Effective Income Tax Rate Reconciliation Gain Loss On Investments Amount
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CY2024 dxc Effective Income Tax Rate Reconciliation Gain Loss On Investments Percent
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CY2024 us-gaap Income Tax Reconciliation Tax Credits
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CY2024 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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CY2024 dxc Effective Income Tax Rate Reconciliation Withholding Taxes Amount
EffectiveIncomeTaxRateReconciliationWithholdingTaxesAmount
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CY2024 dxc Effective Income Tax Rate Reconciliation Withholding Taxes Percent
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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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CY2024Q1 dxc Total Of Deferred Tax Assets Operating Loss Carryforwards And Deferred Tax Assets Tax Credit Carryforwards
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CY2023Q1 dxc Total Of Deferred Tax Assets Operating Loss Carryforwards And Deferred Tax Assets Tax Credit Carryforwards
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CY2024 dxc Effective Income Tax Rate Reconciliation Indemnification Costs Percent
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
EffectiveIncomeTaxRateReconciliationTaxSettlements
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2024 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2024 dxc Effective Income Tax Rate Reconciliation Gain Loss On Investments Amount
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CY2024 dxc Effective Income Tax Rate Reconciliation Gain Loss On Investments Percent
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CY2024 us-gaap Income Tax Reconciliation Tax Credits
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2024 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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CY2024 dxc Effective Income Tax Rate Reconciliation Withholding Taxes Amount
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CY2024 dxc Effective Income Tax Rate Reconciliation Withholding Taxes Percent
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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
IncomeTaxReconciliationRepatriationOfForeignEarnings
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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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CY2024Q1 dxc Total Of Deferred Tax Assets Operating Loss Carryforwards And Deferred Tax Assets Tax Credit Carryforwards
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CY2023Q1 dxc Total Of Deferred Tax Assets Operating Loss Carryforwards And Deferred Tax Assets Tax Credit Carryforwards
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CY2023Q1 dxc Deferred Tax Assets Accrued Interest
DeferredTaxAssetsAccruedInterest
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DeferredTaxAssetsLeasingArrangements
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CY2023Q1 dxc Deferred Tax Assets Leasing Arrangements
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CY2023Q1 us-gaap Deferred Tax Assets Other
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CY2024Q1 us-gaap Deferred Tax Assets Gross
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CY2024Q1 dxc Deferred Tax Assets Accrued Interest
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CY2023Q1 dxc Deferred Tax Assets Accrued Interest
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CY2024Q1 dxc Deferred Tax Assets Leasing Arrangements
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CY2023Q1 dxc Deferred Tax Assets Leasing Arrangements
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CY2024Q1 dxc Deferred Tax Assets Contract Accounting
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CY2023Q1 dxc Deferred Tax Assets Contract Accounting
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CY2024Q1 us-gaap Deferred Tax Assets Property Plant And Equipment
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CY2023Q1 us-gaap Deferred Tax Assets Other
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CY2024Q1 us-gaap Deferred Tax Assets Gross
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CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
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CY2024Q1 us-gaap Deferred Tax Assets Net
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CY2023Q1 us-gaap Deferred Tax Assets Net
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CY2023Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2024Q1 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2023Q1 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2024Q1 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
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CY2023Q1 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
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CY2024Q1 dxc Deferred Tax Liabilities Deferred Expense Employee Benefits
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CY2023Q1 dxc Deferred Tax Liabilities Deferred Expense Employee Benefits
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CY2023Q1 us-gaap Deferred Tax Liabilities Other
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CY2024Q1 us-gaap Deferred Income Tax Liabilities
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CY2023Q1 us-gaap Deferred Income Tax Liabilities
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CY2023Q1 us-gaap Deferred Tax Assets Liabilities Net
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CY2023Q1 us-gaap Income Taxes Receivable
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CY2024Q1 us-gaap Income Taxes Receivable Noncurrent
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CY2024Q1 us-gaap Deferred Income Tax Assets Net
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CY2023Q1 us-gaap Deferred Income Tax Assets Net
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CY2024Q1 dxc Income Tax Receivable And Deferred Income Tax Assets Noncurrent
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CY2023Q1 dxc Income Tax Receivable And Deferred Income Tax Assets Noncurrent
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CY2024Q1 dxc Income Tax Assets Currentand Noncurrent
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CY2024Q1 us-gaap Accrued Income Taxes Current
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CY2023Q1 us-gaap Accrued Income Taxes Current
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CY2024Q1 dxc Liabilities For Income Tax Uncertainty And Accrued Income Taxes Current
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CY2023Q1 dxc Liabilities For Income Tax Uncertainty And Accrued Income Taxes Current
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CY2024Q1 us-gaap Deferred Income Tax Liabilities Net
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CY2023Q1 us-gaap Deferred Income Tax Liabilities Net
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CY2023Q1 us-gaap Deferred Tax Assets Gross
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CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q1 us-gaap Deferred Tax Assets Net
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CY2023Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2024Q1 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2023Q1 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2024Q1 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
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CY2023Q1 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
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CY2024Q1 dxc Deferred Tax Liabilities Deferred Expense Employee Benefits
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CY2023Q1 dxc Deferred Tax Liabilities Deferred Expense Employee Benefits
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CY2024Q1 us-gaap Deferred Tax Liabilities Other
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CY2023Q1 us-gaap Deferred Tax Liabilities Other
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CY2024Q1 us-gaap Deferred Income Tax Liabilities
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CY2023Q1 us-gaap Deferred Income Tax Liabilities
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CY2024Q1 us-gaap Deferred Tax Assets Liabilities Net
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CY2023Q1 us-gaap Deferred Tax Assets Liabilities Net
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CY2024Q1 us-gaap Income Taxes Receivable
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CY2023Q1 us-gaap Income Taxes Receivable
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CY2024Q1 us-gaap Income Taxes Receivable
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CY2023Q1 us-gaap Income Taxes Receivable
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CY2024Q1 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
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CY2023Q1 us-gaap Income Taxes Receivable Noncurrent
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CY2024Q1 us-gaap Deferred Income Tax Assets Net
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CY2023Q1 us-gaap Deferred Income Tax Assets Net
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CY2024Q1 dxc Income Tax Receivable And Deferred Income Tax Assets Noncurrent
IncomeTaxReceivableAndDeferredIncomeTaxAssetsNoncurrent
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CY2023Q1 dxc Income Tax Receivable And Deferred Income Tax Assets Noncurrent
IncomeTaxReceivableAndDeferredIncomeTaxAssetsNoncurrent
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CY2024Q1 dxc Income Tax Assets Currentand Noncurrent
IncomeTaxAssetsCurrentandNoncurrent
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CY2023Q1 dxc Income Tax Assets Currentand Noncurrent
IncomeTaxAssetsCurrentandNoncurrent
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