2022 Q1 Form 10-Q Financial Statement

#000104786222000123 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $4.060B $3.677B
YoY Change 10.42% 13.7%
Cost Of Revenue $930.0M $733.0M
YoY Change 26.88% 35.74%
Gross Profit $3.130B $2.944B
YoY Change 6.32% 9.28%
Gross Profit Margin 77.09% 80.07%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $529.0M $497.0M
YoY Change 6.44% 5.74%
% of Gross Profit 16.9% 16.88%
Operating Expenses $3.261B $2.817B
YoY Change 15.76% 16.12%
Operating Profit $799.0M $860.0M
YoY Change -7.09% 6.44%
Interest Expense $182.0M $176.0M
YoY Change 3.41% -45.34%
% of Operating Profit 22.78% 20.47%
Other Income/Expense, Net $90.00M -$186.0M
YoY Change -148.39% 376.92%
Pretax Income $707.0M $498.0M
YoY Change 41.97% 11.41%
Income Tax $153.0M $78.00M
% Of Pretax Income 21.64% 15.66%
Net Earnings $602.0M $419.0M
YoY Change 43.68% 11.73%
Net Earnings / Revenue 14.83% 11.4%
Basic Earnings Per Share $1.70 $1.23
Diluted Earnings Per Share $1.70 $1.22
COMMON SHARES
Basic Shares Outstanding 354.1M shares 342.2M shares
Diluted Shares Outstanding 355.1M shares 343.0M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $108.0M $76.00M
YoY Change 42.11% -94.55%
Cash & Equivalents $108.0M $76.00M
Short-Term Investments
Other Short-Term Assets $229.0M $210.0M
YoY Change 9.05% 26.51%
Inventory $404.0M $339.0M
Prepaid Expenses $796.0M $772.0M
Receivables $2.176B $1.949B
Other Receivables $522.0M $448.0M
Total Short-Term Assets $5.462B $4.587B
YoY Change 19.08% -8.73%
LONG-TERM ASSETS
Property, Plant & Equipment $49.02B $47.07B
YoY Change 4.14% 5.93%
Goodwill $439.0M $446.0M
YoY Change -1.57% 0.0%
Intangibles $1.268B $1.434B
YoY Change -11.58% -6.4%
Long-Term Investments $833.0M $1.654B
YoY Change -49.64% -17.75%
Other Assets $8.424B $8.989B
YoY Change -6.29% 16.94%
Total Long-Term Assets $58.28B $57.71B
YoY Change 0.98% 6.61%
TOTAL ASSETS
Total Short-Term Assets $5.462B $4.587B
Total Long-Term Assets $58.28B $57.71B
Total Assets $63.74B $62.30B
YoY Change 2.31% 5.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.308B $1.208B
YoY Change 8.28% 19.01%
Accrued Expenses $513.0M $480.0M
YoY Change 6.88% 11.37%
Deferred Revenue
YoY Change
Short-Term Debt $1.313B $2.047B
YoY Change -35.86% 69.45%
Long-Term Debt Due $439.0M $1.303B
YoY Change -66.31% -37.74%
Total Short-Term Liabilities $5.415B $6.559B
YoY Change -17.44% 3.93%
LONG-TERM LIABILITIES
Long-Term Debt $22.58B $20.61B
YoY Change 9.55% 6.13%
Other Long-Term Liabilities $8.009B $9.223B
YoY Change -13.16% 7.13%
Total Long-Term Liabilities $22.58B $20.61B
YoY Change 9.55% 6.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.415B $6.559B
Total Long-Term Liabilities $22.58B $20.61B
Total Liabilities $28.00B $27.17B
YoY Change 3.04% 5.59%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.38B $19.03B
YoY Change
Total Liabilities & Shareholders Equity $63.74B $62.30B
YoY Change 2.31% 5.31%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $602.0M $419.0M
YoY Change 43.68% 11.73%
Depreciation, Depletion And Amortization $529.0M $497.0M
YoY Change 6.44% 5.74%
Cash From Operating Activities $473.0M $289.0M
YoY Change 63.67% -29.85%
INVESTING ACTIVITIES
Capital Expenditures -$872.0M -$1.014B
YoY Change -14.0% 12.04%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$4.000M
YoY Change -100.0% -20.0%
Cash From Investing Activities -$952.0M -$1.096B
YoY Change -13.14% 13.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.00M $16.00M
YoY Change -12.5% 14.29%
Debt Paid & Issued, Net $26.00M $695.0M
YoY Change -96.26% 1728.95%
Cash From Financing Activities -$470.0M -$472.0M
YoY Change -0.42% -151.7%
NET CHANGE
Cash From Operating Activities $473.0M $289.0M
Cash From Investing Activities -$952.0M -$1.096B
Cash From Financing Activities -$470.0M -$472.0M
Net Change In Cash -$949.0M -$1.279B
YoY Change -25.8% -458.26%
FREE CASH FLOW
Cash From Operating Activities $473.0M $289.0M
Capital Expenditures -$872.0M -$1.014B
Free Cash Flow $1.345B $1.303B
YoY Change 3.22% -1.06%

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CY2022Q1 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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2060000000 USD
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CY2022Q1 us-gaap Assets
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CY2022Q1 us-gaap Commitments And Contingencies
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CY2021Q4 us-gaap Commitments And Contingencies
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CY2021Q1 us-gaap Profit Loss
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CY2022Q1 us-gaap Profit Loss
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CY2022Q1 us-gaap Dividends Common Stock
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20623000000 USD
CY2022Q1 ed Numberof Registrants
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CY2022Q1 ed Numberof Registrants
NumberofRegistrants
2 registrant
CY2022Q1 ed Numberof Regulated Utility Subsidiaries
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2 subsidiary
CY2022Q1 ed Numberof Regulated Utility Subsidiaries
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CY2022Q1 us-gaap Prior Period Reclassification Adjustment Description
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<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Reclassification</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified within the Companies' Consolidated Statements of Cash Flows and Consolidated Balance Sheets to conform with current period presentation.</span></div>
CY2022Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q1 us-gaap Earnings Per Share Basic
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1.70
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.23
CY2022Q1 us-gaap Earnings Per Share Diluted
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1.70
CY2021Q1 us-gaap Earnings Per Share Diluted
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1.22
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CY2021Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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157000000 USD
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CY2021Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
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CY2022Q1 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
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CY2021Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
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CY2022Q1 us-gaap Regulatory Assets
RegulatoryAssets
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CY2021Q4 us-gaap Regulatory Assets
RegulatoryAssets
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CY2022Q1 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
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CY2021Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
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CY2022Q1 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
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CY2021Q1 ed Other Customer Provided Capital Rate
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CY2021Q4 us-gaap Regulatory Liabilities
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CY2021Q4 us-gaap Regulatory Liability Current
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CY2022Q1 us-gaap Regulatory Liabilities
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CY2022Q1 ed Other Customer Provided Capital Rate
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CY2022Q1 ed Return On Regulatory Assets
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1983000000 USD
ed Return On Regulatory Assets
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1962000000 USD
CY2022Q1 ed Regulatory Assets Not Earning Return
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1986000000 USD
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1883000000 USD
CY2022Q1 ed Regulatory Assets Deferred Derivative Losses Recovery Period
RegulatoryAssetsDeferredDerivativeLossesRecoveryPeriod
P3Y
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UnamortizedDebtIssuanceExpense
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226000000 USD
CY2022Q1 us-gaap Commercial Paper
CommercialPaper
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CY2021Q4 us-gaap Loans Payable
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CY2022Q1 ed Percentage Of Liens Of Companies Consolidated Asset
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CY2022Q1 ed Debt Instrument Covenant Compliance Maximum Aggregate Limit Of Failure To Pay Debt Or Derivative Obligations
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150000000 USD
CY2022Q1 ed Debt Instrument Covenant Compliance Maximum Aggregate Limit Of Failure To Pay Debt Or Derivative Obligations
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150000000 USD
CY2022Q1 us-gaap Environmental Remediation Expense
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CY2021Q1 us-gaap Environmental Remediation Expense
EnvironmentalRemediationExpense
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CY2022Q1 us-gaap Guarantee Obligations Maximum Exposure
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2067000000 USD
CY2021Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
2157000000 USD
CY2022Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
2067000000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2022Q1 us-gaap Operating Lease Payments
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CY2021Q1 us-gaap Operating Lease Payments
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CY2021Q4 us-gaap Direct Financing Lease Residual Value Of Leased Asset
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CY2022Q1 us-gaap Direct Financing Lease Residual Value Of Leased Asset
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CY2022Q1 ed Direct Financing Lease Accumulated Amortization
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CY2021Q4 ed Direct Financing Lease Accumulated Amortization
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CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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16000000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P18Y2M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P18Y6M
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P7Y2M12D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P7Y1M6D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q1 us-gaap Revenue Remaining Performance Obligation
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CY2021 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
20000000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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33000000 USD
CY2022Q1 us-gaap Depreciation And Amortization
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CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
497000000 USD
CY2022Q1 us-gaap Operating Income Loss
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CY2021Q1 us-gaap Operating Income Loss
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CY2022Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
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CY2022Q1 us-gaap Derivative Fair Value Of Derivative Net
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CY2021Q4 us-gaap Margin Deposit Assets
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CY2021Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
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CY2022Q1 ed Fair Value Net Derivative Asset Liability Measuredon Recurring Basis Unobservable Inputs Reconciliation Gain Loss Includedin Regulatory Assetsand Liabilities
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CY2021Q1 ed Fair Value Net Derivative Asset Liability Measuredon Recurring Basis Unobservable Inputs Reconciliation Gain Loss Includedin Regulatory Assetsand Liabilities
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4000000 USD
CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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CY2021Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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CY2022Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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14000000 USD
CY2021Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
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