2022 Q3 Form 10-Q Financial Statement

#000003321322000022 Filed on July 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $2.069B $2.528B $3.840B
YoY Change -241.28% -1071.68% 206.54%
Cost Of Revenue $541.1M $539.7M $610.1M
YoY Change 9.33% 16.31% 28.56%
Gross Profit $1.528B $1.988B $3.230B
YoY Change -177.99% -374.51% 315.11%
Gross Profit Margin 73.85% 78.65% 84.11%
Selling, General & Admin $67.23M $59.28M $52.34M
YoY Change 36.89% 18.9% 30.21%
% of Gross Profit 4.4% 2.98% 1.62%
Research & Development $357.0K $1.741M $1.180M
YoY Change -98.26% -2.14% 136.0%
% of Gross Profit 0.02% 0.09% 0.04%
Depreciation & Amortization $418.7M $429.1M $476.4M
YoY Change -5.46% 12.85% 26.88%
% of Gross Profit 27.39% 21.59% 14.75%
Operating Expenses $67.23M $59.28M $529.9M
YoY Change 36.89% 18.9% 27.39%
Operating Profit $924.6M $1.362B $2.700B
YoY Change -135.43% -211.85% 645.75%
Interest Expense $60.14M $65.99M -$63.71M
YoY Change -25.15% -8.68% -20.95%
% of Operating Profit 6.5% 4.85% -2.36%
Other Income/Expense, Net $157.0K $7.313M
YoY Change -96.31% 94.24%
Pretax Income $839.7M $1.202B $2.394B
YoY Change -131.78% -193.97% 3836.9%
Income Tax $152.2M $308.2M $591.1M
% Of Pretax Income 18.13% 25.63% 24.69%
Net Earnings $683.7M $891.4M $1.801B
YoY Change -134.53% -195.51% 2727.84%
Net Earnings / Revenue 33.04% 35.27% 46.91%
Basic Earnings Per Share $1.85 $2.41
Diluted Earnings Per Share $1.69 $2.19 $4.767M
COMMON SHARES
Basic Shares Outstanding 370.0M shares 369.9M shares 377.9M shares
Diluted Shares Outstanding 403.9M shares 407.3M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.54M $43.75M $114.0M
YoY Change 284.09% -86.77% 533.13%
Cash & Equivalents $87.54M $43.75M $114.0M
Short-Term Investments
Other Short-Term Assets $1.876B $1.983B $734.8M
YoY Change -14.16% 67.15% 16.45%
Inventory
Prepaid Expenses
Receivables $1.939B $2.059B $1.438B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.902B $4.086B $2.287B
YoY Change 16.81% 88.39% 88.14%
LONG-TERM ASSETS
Property, Plant & Equipment $18.13B $18.20B $18.42B
YoY Change -3.46% 15.06% 14.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $477.2M $304.7M $491.7M
YoY Change -0.52% -48.14% 13.36%
Total Long-Term Assets $18.64B $18.54B $19.32B
YoY Change -5.25% 10.22% 14.34%
TOTAL ASSETS
Total Short-Term Assets $3.902B $4.086B $2.287B
Total Long-Term Assets $18.64B $18.54B $19.32B
Total Assets $22.54B $22.62B $21.61B
YoY Change -2.04% 19.15% 19.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.678B $1.700B $1.339B
YoY Change 41.83% 107.33% 89.84%
Accrued Expenses $27.97M
YoY Change 11.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $422.0M $440.9M $1.061B
YoY Change 3291.91% 10.31% 588.22%
Total Short-Term Liabilities $6.638B $7.190B $5.186B
YoY Change -8.17% 95.42% 194.27%
LONG-TERM LIABILITIES
Long-Term Debt $4.347B $4.601B $4.530B
YoY Change -29.62% -9.72% -7.48%
Other Long-Term Liabilities $1.004B $998.0M $1.013B
YoY Change 0.51% 11.22% 7.16%
Total Long-Term Liabilities $5.351B $5.599B $5.543B
YoY Change 435.64% 524.0% -5.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.638B $7.190B $5.186B
Total Long-Term Liabilities $5.351B $5.599B $5.543B
Total Liabilities $12.88B $13.53B $11.64B
YoY Change -12.67% 26.67% 30.18%
SHAREHOLDERS EQUITY
Retained Earnings -$299.6M -$880.1M -$94.40M
YoY Change -84.31% -1334.68% -108.93%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.848M $18.05M
YoY Change -85.82% -38.51%
Treasury Stock Shares 192.0K shares 1.033M shares
Shareholders Equity $9.619B $9.061B $9.955B
YoY Change
Total Liabilities & Shareholders Equity $22.54B $22.62B $21.61B
YoY Change -2.04% 19.15% 19.29%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $683.7M $891.4M $1.801B
YoY Change -134.53% -195.51% 2727.84%
Depreciation, Depletion And Amortization $418.7M $429.1M $476.4M
YoY Change -5.46% 12.85% 26.88%
Cash From Operating Activities $1.150B $230.4M $1.171B
YoY Change 2290.7% 429.78% 188.34%
INVESTING ACTIVITIES
Capital Expenditures -$362.5M -$392.7M -$348.2M
YoY Change 53.16% 79.34% 37.19%
Acquisitions
YoY Change
Other Investing Activities -$147.0M $176.2M -$9.694M
YoY Change -81.71% -184.69% -98.57%
Cash From Investing Activities -$509.5M -$216.5M -$357.9M
YoY Change -51.01% -49.29% -61.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -596.9M 12.92M -721.9M
YoY Change -187.28% -98.08% -235.82%
NET CHANGE
Cash From Operating Activities 1.150B 230.4M 1.171B
Cash From Investing Activities -509.5M -216.5M -357.9M
Cash From Financing Activities -596.9M 12.92M -721.9M
Net Change In Cash 43.80M 26.83M 91.17M
YoY Change -114.22% -90.75% 1926.02%
FREE CASH FLOW
Cash From Operating Activities $1.150B $230.4M $1.171B
Capital Expenditures -$362.5M -$392.7M -$348.2M
Free Cash Flow $1.513B $623.1M $1.519B
YoY Change 431.14% 137.42% 130.21%

Facts In Submission

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dei Current Fiscal Year End Date
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dei Document Fiscal Year Focus
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us-gaap Gain Loss On Sale Of Derivatives
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Equity Method Investments
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us-gaap Proceeds From Sale Of Equity Method Investments
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q2 us-gaap Common Stock Shares Authorized
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CY2021Q2 us-gaap Preferred Stock Shares Authorized
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CY2022Q2 us-gaap Preferred Stock Shares Authorized
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CY2022Q2 us-gaap Preferred Stock Shares Issued
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CY2021Q2 us-gaap Preferred Stock Shares Outstanding
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CY2021Q2 us-gaap Preferred Stock Shares Issued
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us-gaap Profit Loss
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us-gaap Asset Retirement Obligation Period Increase Decrease
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CY2021Q2 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-3922732000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-1534345000 usd
CY2022Q2 us-gaap Revenues
Revenues
2527508000 usd
CY2021Q2 us-gaap Revenues
Revenues
-260116000 usd
us-gaap Revenues
Revenues
1948398000 usd
us-gaap Revenues
Revenues
689807000 usd
eqt Maximum Additional Collateral As Percentage Of Derivative Liability
MaximumAdditionalCollateralAsPercentageOfDerivativeLiability
1
CY2022Q2 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
465000000 usd
CY2021Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
594900000 usd
CY2022Q2 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
238000000 usd
CY2021Q4 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
100000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.202
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.270
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5087197000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
5042069000 usd
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5643652000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
5591072000 usd
CY2022Q2 eqt Debt Instrument Face Amount Current
DebtInstrumentFaceAmountCurrent
450531000 usd
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
440900000 usd
CY2021Q4 eqt Debt Instrument Face Amount Current
DebtInstrumentFaceAmountCurrent
1074332000 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1060970000 usd
CY2022Q2 eqt Debt Instrument Face Amount Noncurrent
DebtInstrumentFaceAmountNoncurrent
4636666000 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4601169000 usd
CY2021Q4 eqt Debt Instrument Face Amount Noncurrent
DebtInstrumentFaceAmountNoncurrent
4569320000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4530102000 usd
CY2020Q2 eqt Debt Instrument Convertible Threshold Trading Days Measurement Period
DebtInstrumentConvertibleThresholdTradingDaysMeasurementPeriod
5 d
CY2020Q2 eqt Debt Instrument Convertible Consecutive Trading Days Measurement Period
DebtInstrumentConvertibleConsecutiveTradingDaysMeasurementPeriod
5 d
CY2020Q2 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1
CY2020Q2 eqt Debt Instrument Conversion Strike Price
DebtInstrumentConversionStrikePrice
15.00
CY2020Q2 eqt Debt Instrument Conversion Cap Price
DebtInstrumentConversionCapPrice
18.75
CY2020Q2 eqt Payment Of Debt Premium Charges
PaymentOfDebtPremiumCharges
32500000 usd
CY2022Q2 us-gaap Share Price
SharePrice
34.40
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4132337 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
33300000 shares
CY2020Q1 eqt Contract Asset Cash Payment Option Amount
ContractAssetCashPaymentOptionAmount
196000000 usd
CY2020Q1 eqt Contract Asset Noncurrent
ContractAssetNoncurrent
410000000 usd
eqt Impairment Of Contract Asset
ImpairmentOfContractAsset
184900000 usd
CY2022Q1 eqt Contract Asset Carrying Value
ContractAssetCarryingValue
225000000 usd
CY2022Q1 eqt Contract Asset Cash Payment Option Amount
ContractAssetCashPaymentOptionAmount
196000000 usd
CY2022Q1 eqt Contract Asset Noncurrent
ContractAssetNoncurrent
29000000 usd

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