2024 Q1 Form 10-K Financial Statement

#000173910424000009 Filed on February 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.205B $1.035B $4.417B
YoY Change -4.14% 5.5% 0.14%
Cost Of Revenue $515.0M $516.0M $1.931B
YoY Change 4.25% 15.18% 0.94%
Gross Profit $690.0M $519.0M $2.486B
YoY Change -9.57% -2.63% -0.48%
Gross Profit Margin 57.26% 50.14% 56.28%
Selling, General & Admin $337.0M $292.0M $1.285B
YoY Change 3.06% -3.95% 1.58%
% of Gross Profit 48.84% 56.26% 51.69%
Research & Development $87.00M $79.00M $327.0M
YoY Change 7.41% -1.25% 1.87%
% of Gross Profit 12.61% 15.22% 13.15%
Depreciation & Amortization $166.0M $171.0M $694.0M
YoY Change -4.05% 1.79% 1.76%
% of Gross Profit 24.06% 32.95% 27.92%
Operating Expenses $424.0M $509.0M $1.612B
YoY Change 3.92% -0.97% 1.64%
Operating Profit $266.0M $10.00M $874.0M
YoY Change -25.07% -47.37% -4.17%
Interest Expense $66.00M -$67.00M $277.0M
YoY Change 3.13% 8.06% 14.94%
% of Operating Profit 24.81% -670.0% 31.69%
Other Income/Expense, Net -$9.000M -$34.00M -$75.00M
YoY Change 0.0% 126.67% 134.38%
Pretax Income $12.00M -$127.0M -$1.195B
YoY Change -88.89% 53.01% 1559.72%
Income Tax -$20.00M $14.00M $36.00M
% Of Pretax Income -166.67%
Net Earnings $32.00M -$141.0M -$1.231B
YoY Change -68.93% 156.36% 1478.21%
Net Earnings / Revenue 2.66% -13.62% -27.87%
Basic Earnings Per Share $0.06 -$2.50
Diluted Earnings Per Share $0.06 -$0.29 -$2.50
COMMON SHARES
Basic Shares Outstanding 493.0M shares 492.8M shares 492.3M shares
Diluted Shares Outstanding 496.0M shares 492.3M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $345.0M $352.0M $352.0M
YoY Change 8.49% 2.03% 2.03%
Cash & Equivalents $345.0M $352.0M $352.0M
Short-Term Investments
Other Short-Term Assets $989.0M $310.0M $310.0M
YoY Change 167.3% -21.32% -21.32%
Inventory $1.638B $1.735B $1.735B
Prepaid Expenses
Receivables $988.0M $842.0M $842.0M
Other Receivables $90.00M $168.0M $168.0M
Total Short-Term Assets $4.050B $3.407B $3.407B
YoY Change 14.15% 3.9% 3.9%
LONG-TERM ASSETS
Property, Plant & Equipment $949.0M $1.026B $1.166B
YoY Change -5.1% 2.7% 2.28%
Goodwill $4.478B $5.094B
YoY Change -26.12% -15.0%
Intangibles $4.196B $4.494B
YoY Change -12.42% -7.19%
Long-Term Investments $25.00M $26.00M $26.00M
YoY Change -7.41% -3.7% -3.7%
Other Assets $346.0M $341.0M $175.0M
YoY Change -6.23% -9.79% -16.67%
Total Long-Term Assets $9.969B $10.96B $10.96B
YoY Change -18.43% -10.29% -10.29%
TOTAL ASSETS
Total Short-Term Assets $4.050B $3.407B $3.407B
Total Long-Term Assets $9.969B $10.96B $10.96B
Total Assets $14.02B $14.36B $14.36B
YoY Change -11.1% -7.29% -7.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $302.0M $270.0M $270.0M
YoY Change -20.73% -30.77% -30.77%
Accrued Expenses $157.0M $189.0M
YoY Change 7.53% 6.78%
Deferred Revenue $318.0M $367.0M
YoY Change -3.34% 13.27%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $38.00M $38.00M $38.00M
YoY Change -90.03% -90.21% -90.21%
Total Short-Term Liabilities $1.232B $1.241B $1.241B
YoY Change -21.93% -27.09% -27.09%
LONG-TERM LIABILITIES
Long-Term Debt $5.727B $5.736B $5.736B
YoY Change 1.56% 5.29% 5.29%
Other Long-Term Liabilities $474.0M $411.0M $595.0M
YoY Change 93.47% 79.48% 52.56%
Total Long-Term Liabilities $6.201B $6.147B $6.331B
YoY Change 5.39% 8.28% 8.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.232B $1.241B $1.241B
Total Long-Term Liabilities $6.201B $6.147B $6.331B
Total Liabilities $7.963B $8.139B $8.139B
YoY Change -3.93% -0.77% -0.77%
SHAREHOLDERS EQUITY
Retained Earnings -$2.256B -$2.288B
YoY Change 136.48% 116.46%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.056B $6.223B $6.223B
YoY Change
Total Liabilities & Shareholders Equity $14.02B $14.36B $14.36B
YoY Change -11.1% -7.29% -7.29%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $32.00M -$141.0M -$1.231B
YoY Change -68.93% 156.36% 1478.21%
Depreciation, Depletion And Amortization $166.0M $171.0M $694.0M
YoY Change -4.05% 1.79% 1.76%
Cash From Operating Activities $2.000M $157.0M $271.0M
YoY Change -101.38% 1107.69% -40.04%
INVESTING ACTIVITIES
Capital Expenditures $24.00M $41.00M $140.0M
YoY Change 20.0% -48.1% 2.19%
Acquisitions $5.000M $19.00M
YoY Change -68.75%
Other Investing Activities $0.00 $6.000M -$4.000M
YoY Change -100.0% 100.0% -150.0%
Cash From Investing Activities $37.00M -$35.00M -$169.0M
YoY Change -167.27% -53.95% -5.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$27.00M -139.0M -$83.00M
YoY Change -115.52% 65.48% -84.88%
NET CHANGE
Cash From Operating Activities $2.000M 157.0M $271.0M
Cash From Investing Activities $37.00M -35.00M -$169.0M
Cash From Financing Activities -$27.00M -139.0M -$83.00M
Net Change In Cash -$7.000M -17.00M $7.000M
YoY Change -74.07% -88.44% -102.39%
FREE CASH FLOW
Cash From Operating Activities $2.000M $157.0M $271.0M
Capital Expenditures $24.00M $41.00M $140.0M
Free Cash Flow -$22.00M $116.0M $131.0M
YoY Change -86.67% -275.76% -58.41%

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