2023 Q2 Form 10-K Financial Statement

#000071251523000028 Filed on May 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2023
Revenue $1.924B $1.874B $7.426B
YoY Change 8.89% 2.68% 6.22%
Cost Of Revenue $368.0M $448.0M $1.792B
YoY Change 17.2% 9.8% -3.6%
Gross Profit $1.556B $1.426B $5.634B
YoY Change 7.09% 0.64% 9.78%
Gross Profit Margin 80.87% 76.09% 75.87%
Selling, General & Admin $392.0M $479.0M $1.705B
YoY Change -2.24% 16.83% 4.35%
% of Gross Profit 25.19% 33.59% 30.26%
Research & Development $596.0M $635.0M $2.328B
YoY Change 4.2% 9.67% 6.5%
% of Gross Profit 38.3% 44.53% 41.32%
Depreciation & Amortization $49.00M $173.0M $536.0M
YoY Change -57.02% 22.7% 230.86%
% of Gross Profit 3.15% 12.13% 9.51%
Operating Expenses $1.014B $1.140B $4.191B
YoY Change 0.2% 10.36% 4.7%
Operating Profit $542.0M $286.0M $1.443B
YoY Change 22.9% -25.52% 27.81%
Interest Expense $15.00M $6.000M -$6.000M
YoY Change -400.0% -166.67% -110.34%
% of Operating Profit 2.77% 2.1% -0.42%
Other Income/Expense, Net $14.00M -$6.000M
YoY Change -380.0% -87.5%
Pretax Income $556.0M $181.0M $1.326B
YoY Change 27.52% -49.16% 22.66%
Income Tax $154.0M $193.0M $524.0M
% Of Pretax Income 27.7% 106.63% 39.52%
Net Earnings $402.0M -$12.00M $802.0M
YoY Change 29.26% -105.33% 1.65%
Net Earnings / Revenue 20.89% -0.64% 10.8%
Basic Earnings Per Share $1.48 $2.90
Diluted Earnings Per Share $1.47 -$0.04 $2.89
COMMON SHARES
Basic Shares Outstanding 272.7M shares 274.2M shares 277.0M shares
Diluted Shares Outstanding 274.0M shares 278.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.602B $2.767B $2.767B
YoY Change 7.7% -9.63% -9.63%
Cash & Equivalents $2.259B $2.424B $2.424B
Short-Term Investments $343.0M $343.0M $343.0M
Other Short-Term Assets $455.0M $518.0M $518.0M
YoY Change -12.84% 18.0% 18.0%
Inventory
Prepaid Expenses
Receivables $517.0M $684.0M $684.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.574B $3.969B $3.969B
YoY Change 1.62% -4.38% -4.38%
LONG-TERM ASSETS
Property, Plant & Equipment $545.0M $549.0M $549.0M
YoY Change 0.0% -0.18% -36.46%
Goodwill $5.381B $5.380B
YoY Change -0.13%
Intangibles $577.0M $618.0M
YoY Change -35.76%
Long-Term Investments
YoY Change
Other Assets $451.0M $2.943B $2.943B
YoY Change -84.2% 480.47% 20.81%
Total Long-Term Assets $9.509B $9.490B $9.490B
YoY Change -1.72% -1.65% -1.65%
TOTAL ASSETS
Total Short-Term Assets $3.574B $3.969B $3.969B
Total Long-Term Assets $9.509B $9.490B $9.490B
Total Assets $13.08B $13.46B $13.46B
YoY Change -0.83% -2.47% -2.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $75.00M $99.00M $99.00M
YoY Change 7.14% -1.98% -1.98%
Accrued Expenses $1.145B $1.285B $1.285B
YoY Change 22.33% -7.42% 4.3%
Deferred Revenue $68.00M $103.0M
YoY Change -28.47%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.800B $3.285B $3.285B
YoY Change -1.16% -6.49% -6.49%
LONG-TERM LIABILITIES
Long-Term Debt $1.880B $1.880B $1.880B
YoY Change 0.11% 0.11% 0.11%
Other Long-Term Liabilities $387.0M $1.000B $1.000B
YoY Change -53.87% 151.89% 27.71%
Total Long-Term Liabilities $387.0M $2.880B $2.880B
YoY Change -85.76% 625.44% 8.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.800B $3.285B $3.285B
Total Long-Term Liabilities $387.0M $2.880B $2.880B
Total Liabilities $5.749B $6.166B $6.166B
YoY Change 3.57% -0.15% -0.15%
SHAREHOLDERS EQUITY
Retained Earnings $7.406B $7.357B
YoY Change -3.29%
Common Stock $3.000M $3.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.334B $7.293B $7.293B
YoY Change
Total Liabilities & Shareholders Equity $13.08B $13.46B $13.46B
YoY Change -0.83% -2.47% -2.47%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2023
OPERATING ACTIVITIES
Net Income $402.0M -$12.00M $802.0M
YoY Change 29.26% -105.33% 1.65%
Depreciation, Depletion And Amortization $49.00M $173.0M $536.0M
YoY Change -57.02% 22.7% 230.86%
Cash From Operating Activities $359.0M $617.0M $1.550B
YoY Change -560.26% 38.96% -18.38%
INVESTING ACTIVITIES
Capital Expenditures $45.00M $47.00M $207.0M
YoY Change -176.27% -188.68% -210.11%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $1.000M $10.00M -$10.00M
YoY Change -116.67% -50.0% -99.62%
Cash From Investing Activities -$44.00M -$37.00M -$217.0M
YoY Change -32.31% 12.12% -92.26%
FINANCING ACTIVITIES
Cash Dividend Paid $52.00M $210.0M
YoY Change -1.89% 8.81%
Common Stock Issuance & Retirement, Net -$1.215B
YoY Change -193.46%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$482.0M -358.0M -1.600B
YoY Change 1.26% 1.99% -1.23%
NET CHANGE
Cash From Operating Activities $359.0M 617.0M 1.550B
Cash From Investing Activities -$44.00M -37.00M -217.0M
Cash From Financing Activities -$482.0M -358.0M -1.600B
Net Change In Cash -$165.0M 222.0M -267.0M
YoY Change -73.34% 270.0% -89.44%
FREE CASH FLOW
Cash From Operating Activities $359.0M $617.0M $1.550B
Capital Expenditures $45.00M $47.00M $207.0M
Free Cash Flow $314.0M $570.0M $1.343B
YoY Change -1752.63% 14.69% -35.65%

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CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q1 us-gaap Operating Lease Liability
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UnrecordedUnconditionalPurchaseObligationDueInRollingYearFive
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CY2023Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due In Rolling After Year Five
UnrecordedUnconditionalPurchaseObligationDueInRollingAfterYearFive
902000000 usd
CY2023Q1 us-gaap Recorded Unconditional Purchase Obligation
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CY2023Q1 us-gaap Recorded Unconditional Purchase Obligation Due In Next Rolling Twelve Months
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CY2023Q1 us-gaap Recorded Unconditional Purchase Obligation Due In Rolling Year Two
RecordedUnconditionalPurchaseObligationDueInRollingYearTwo
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RecordedUnconditionalPurchaseObligationDueInRollingYearFour
41000000 usd
CY2023Q1 us-gaap Recorded Unconditional Purchase Obligation Due In Rolling Year Five
RecordedUnconditionalPurchaseObligationDueInRollingYearFive
32000000 usd
CY2023Q1 us-gaap Recorded Unconditional Purchase Obligation Due In Rolling After Year Five
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1616000000 usd
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6416000000 usd
CY2023Q1 ea Total Unconditional Purchaseobligationbalancesheetamountoneyearafterfiscalyearend
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877000000 usd
CY2023Q1 ea Total Unconditional Purchase Obligation Balance Sheet Amount Two Years After Fiscal Year End
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917000000 usd
CY2023Q1 ea Totalunconditionalpurchaseobligationbalancesheetamountthreeyearsafterfiscalyearend
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1177000000 usd
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632000000 usd
CY2023Q1 ea Total Unconditional Purchase Obligation Balance Sheet Amount Five Years After Fiscal Year End
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295000000 usd
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CY2023Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
40.43
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CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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286000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
39.28
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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10000000 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P2Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
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120000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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P1Y11M26D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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10000000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Allocated Share Based Compensation Expense
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528000000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
435000000 usd
CY2023Q1 us-gaap Deferred Compensation Plan Assets
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CY2022Q1 us-gaap Deferred Compensation Plan Assets
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CY2023Q1 us-gaap Deferred Compensation Liability Classified Noncurrent
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24000000 usd
CY2022Q1 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
22000000 usd
CY2023 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
42000000 usd
CY2022 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
41000000 usd
CY2021 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
40000000 usd
CY2023 us-gaap Interest Expense
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58000000 usd
CY2022 us-gaap Interest Expense
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58000000 usd
CY2021 us-gaap Interest Expense
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45000000 usd
CY2023 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
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CY2022 us-gaap Interest And Dividend Income Operating
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CY2021 us-gaap Interest And Dividend Income Operating
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CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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31000000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
9000000 usd
CY2023 us-gaap Gain Loss On Derivative Instruments Net Pretax
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CY2022 us-gaap Gain Loss On Derivative Instruments Net Pretax
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21000000 usd
CY2021 us-gaap Gain Loss On Derivative Instruments Net Pretax
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CY2023 us-gaap Other Income
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CY2022 us-gaap Other Income
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CY2021 us-gaap Other Income
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CY2023 us-gaap Other Nonoperating Income Expense
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CY2021 us-gaap Other Nonoperating Income Expense
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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284000000 shares
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289000000 shares
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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286000000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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292000000 shares
CY2023 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Earnings Per Share Basic
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CY2023 us-gaap Earnings Per Share Diluted
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CY2022 us-gaap Earnings Per Share Diluted
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2.76
CY2021 us-gaap Earnings Per Share Diluted
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CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1000000 shares
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2000000 shares
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550000000 usd
CY2023 ea Entity Wide Revenue By Major Customer Percent Of Revenue Did Not Exceed Ten Percent
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0.10

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