2023 Q2 Form 10-Q Financial Statement

#000104786223000120 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $2.944B $4.403B $4.060B
YoY Change -13.79% 8.45% 10.42%
Cost Of Revenue $594.0M $1.170B $930.0M
YoY Change -29.12% 25.81% 26.88%
Gross Profit $2.350B $3.233B $3.130B
YoY Change -8.81% 3.29% 6.32%
Gross Profit Margin 79.82% 73.43% 77.09%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $495.0M $499.0M $529.0M
YoY Change -8.16% -5.67% 6.44%
% of Gross Profit 21.06% 15.43% 16.9%
Operating Expenses $2.673B $3.519B $3.261B
YoY Change -11.72% 7.91% 15.76%
Operating Profit $284.0M $1.739B $799.0M
YoY Change -26.61% 117.65% -7.09%
Interest Expense $236.0M $262.0M $182.0M
YoY Change 15.12% 43.96% 3.41%
% of Operating Profit 83.1% 15.07% 22.78%
Other Income/Expense, Net $207.0M $196.0M $90.00M
YoY Change 132.58% 117.78% -148.39%
Pretax Income $255.0M $1.673B $707.0M
YoY Change -5.9% 136.63% 41.97%
Income Tax $29.00M $243.0M $153.0M
% Of Pretax Income 11.37% 14.52% 21.64%
Net Earnings $226.0M $1.433B $602.0M
YoY Change -11.37% 138.04% 43.68%
Net Earnings / Revenue 7.68% 32.55% 14.83%
Basic Earnings Per Share $0.65 $4.06 $1.70
Diluted Earnings Per Share $0.65 $4.05 $1.70
COMMON SHARES
Basic Shares Outstanding 346.5M shares 355.0M shares 354.1M shares
Diluted Shares Outstanding 347.4M shares 354.2M shares 355.1M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.955B $771.0M $108.0M
YoY Change 73.47% 613.89% 42.11%
Cash & Equivalents $1.955B $771.0M $108.0M
Short-Term Investments
Other Short-Term Assets $133.0M $137.0M $229.0M
YoY Change -36.06% -40.17% 9.05%
Inventory $434.0M $431.0M $404.0M
Prepaid Expenses $326.0M $833.0M $796.0M
Receivables $1.684B $2.040B $2.176B
Other Receivables $747.0M $593.0M $522.0M
Total Short-Term Assets $6.203B $5.868B $5.462B
YoY Change 3.11% 7.43% 19.08%
LONG-TERM ASSETS
Property, Plant & Equipment $47.93B $47.29B $49.02B
YoY Change -3.49% -3.53% 4.14%
Goodwill $408.0M $407.0M $439.0M
YoY Change -7.06% -7.29% -1.57%
Intangibles $1.268B
YoY Change -11.58%
Long-Term Investments $942.0M $905.0M $833.0M
YoY Change 18.64% 8.64% -49.64%
Other Assets $8.699B $8.741B $8.424B
YoY Change 1.13% 3.76% -6.29%
Total Long-Term Assets $57.57B $56.94B $58.28B
YoY Change -2.52% -2.3% 0.98%
TOTAL ASSETS
Total Short-Term Assets $6.203B $5.868B $5.462B
Total Long-Term Assets $57.57B $56.94B $58.28B
Total Assets $63.77B $62.80B $63.74B
YoY Change -2.0% -1.46% 2.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.320B $1.363B $1.308B
YoY Change -14.67% 4.2% 8.28%
Accrued Expenses $391.0M $499.0M $513.0M
YoY Change 0.0% -2.73% 6.88%
Deferred Revenue
YoY Change
Short-Term Debt $1.953B $411.0M $1.313B
YoY Change -26.13% -68.7% -35.86%
Long-Term Debt Due $649.0M $650.0M $439.0M
YoY Change 101.55% 48.06% -66.31%
Total Short-Term Liabilities $6.072B $4.895B $5.415B
YoY Change -11.01% -9.6% -17.44%
LONG-TERM LIABILITIES
Long-Term Debt $20.65B $20.65B $22.58B
YoY Change -7.66% -8.58% 9.55%
Other Long-Term Liabilities $8.612B $8.767B $8.009B
YoY Change 6.2% 9.46% -13.16%
Total Long-Term Liabilities $20.65B $20.65B $22.58B
YoY Change -7.66% -8.58% 9.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.072B $4.895B $5.415B
Total Long-Term Liabilities $20.65B $20.65B $22.58B
Total Liabilities $26.72B $25.54B $28.00B
YoY Change -8.44% -8.78% 3.04%
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 $20.81B $20.84B $20.38B
YoY Change
Total Liabilities & Shareholders Equity $63.77B $62.80B $63.74B
YoY Change -2.0% -1.46% 2.31%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $226.0M $1.433B $602.0M
YoY Change -11.37% 138.04% 43.68%
Depreciation, Depletion And Amortization $495.0M $499.0M $529.0M
YoY Change -8.16% -5.67% 6.44%
Cash From Operating Activities $1.072B $92.00M $473.0M
YoY Change -27.76% -80.55% 63.67%
INVESTING ACTIVITIES
Capital Expenditures $1.064B $1.215B -$872.0M
YoY Change -197.7% -239.33% -14.0%
Acquisitions
YoY Change
Other Investing Activities -$102.0M $3.833B $0.00
YoY Change 32.47% -100.0%
Cash From Investing Activities -$1.166B $2.618B -$952.0M
YoY Change 0.0% -375.0% -13.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.00M
YoY Change -12.5%
Debt Paid & Issued, Net $60.00M $26.00M
YoY Change 130.77% -96.26%
Cash From Financing Activities 1.276B -$3.466B -$470.0M
YoY Change 76.0% 637.45% -0.42%
NET CHANGE
Cash From Operating Activities 1.072B $92.00M $473.0M
Cash From Investing Activities -1.166B $2.618B -$952.0M
Cash From Financing Activities 1.276B -$3.466B -$470.0M
Net Change In Cash 1.182B -$756.0M -$949.0M
YoY Change 13.33% -20.34% -25.8%
FREE CASH FLOW
Cash From Operating Activities $1.072B $92.00M $473.0M
Capital Expenditures $1.064B $1.215B -$872.0M
Free Cash Flow $8.000M -$1.123B $1.345B
YoY Change -99.69% -183.49% 3.22%

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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 to conform with the current period presentation.</span></div>
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