2023 Q2 Form 10-Q Financial Statement

#000007274123000008 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $2.629B $3.796B
YoY Change 2.21% 9.34%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $320.0M $236.9M
YoY Change -12.23% -54.99%
% of Gross Profit
Operating Expenses $2.069B $3.046B
YoY Change -2.29% 8.47%
Operating Profit $560.7M $749.6M
YoY Change 23.07% 13.04%
Interest Expense -$207.3M $194.5M
YoY Change -229.49% 26.92%
% of Operating Profit -36.97% 25.95%
Other Income/Expense, Net $94.88M $89.00M
YoY Change 1.04% 24.3%
Pretax Income $47.22M $644.0M
YoY Change -87.87% 10.77%
Income Tax $29.92M $151.0M
% Of Pretax Income 63.36% 23.44%
Net Earnings $15.42M $493.0M
YoY Change -94.75% 10.71%
Net Earnings / Revenue 0.59% 12.99%
Basic Earnings Per Share $0.04 $1.41
Diluted Earnings Per Share $0.04 $1.41
COMMON SHARES
Basic Shares Outstanding 348.8M shares 348.5M shares
Diluted Shares Outstanding 349.7M shares 349.6M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.18M $35.98M
YoY Change 42.8% -22.09%
Cash & Equivalents $42.20M $36.00M
Short-Term Investments
Other Short-Term Assets $378.0M $468.3M
YoY Change 30.66% 33.45%
Inventory $405.8M $423.3M
Prepaid Expenses
Receivables $1.332B $1.660B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.722B $4.136B
YoY Change 13.88% 19.08%
LONG-TERM ASSETS
Property, Plant & Equipment $37.58B $36.74B
YoY Change 9.22% 8.54%
Goodwill $4.523B $4.523B
YoY Change 1.0% 1.02%
Intangibles
YoY Change
Long-Term Investments $2.227B $2.303B
YoY Change 29.5% 49.01%
Other Assets $588.2M $560.6M
YoY Change -6.17% -40.6%
Total Long-Term Assets $50.82B $49.97B
YoY Change 8.94% 9.07%
TOTAL ASSETS
Total Short-Term Assets $3.722B $4.136B
Total Long-Term Assets $50.82B $49.97B
Total Assets $54.54B $54.11B
YoY Change 9.26% 9.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.550B $1.822B
YoY Change 14.52% 21.92%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $555.5M $1.196B
YoY Change 462.28% -28.36%
Long-Term Debt Due $2.062B $1.615B
YoY Change 62.98% 97.7%
Total Short-Term Liabilities $5.795B $6.405B
YoY Change 36.01% 14.35%
LONG-TERM LIABILITIES
Long-Term Debt $21.77B $20.56B
YoY Change 11.17% 14.79%
Other Long-Term Liabilities $907.2M $884.7M
YoY Change 2.89% 2.6%
Total Long-Term Liabilities $22.68B $21.45B
YoY Change 10.82% 14.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.795B $6.405B
Total Long-Term Liabilities $22.68B $21.45B
Total Liabilities $28.47B $27.85B
YoY Change 15.16% 14.26%
SHAREHOLDERS EQUITY
Retained Earnings $5.563B $5.783B
YoY Change 4.94% 10.59%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $205.4M $209.4M
YoY Change -14.2% -13.66%
Treasury Stock Shares 11.18M shares
Shareholders Equity $15.55B $15.75B
YoY Change
Total Liabilities & Shareholders Equity $54.54B $54.11B
YoY Change 9.26% 9.77%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $15.42M $493.0M
YoY Change -94.75% 10.71%
Depreciation, Depletion And Amortization $320.0M $236.9M
YoY Change -12.23% -54.99%
Cash From Operating Activities $578.1M $69.16M
YoY Change 23.04% -81.41%
INVESTING ACTIVITIES
Capital Expenditures $1.062B $977.1M
YoY Change -235.42% 27.79%
Acquisitions
YoY Change
Other Investing Activities -$283.8M -$5.640M
YoY Change 81.52% -5.62%
Cash From Investing Activities -$1.346B -$1.052B
YoY Change 43.08% 22.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $400.0M
YoY Change -48.05%
Cash From Financing Activities 783.2M $623.4M
YoY Change 69.16% 45.02%
NET CHANGE
Cash From Operating Activities 578.1M $69.16M
Cash From Investing Activities -1.346B -$1.052B
Cash From Financing Activities 783.2M $623.4M
Net Change In Cash 15.22M -$359.0M
YoY Change -292.4% 536.28%
FREE CASH FLOW
Cash From Operating Activities $578.1M $69.16M
Capital Expenditures $1.062B $977.1M
Free Cash Flow -$484.2M -$907.9M
YoY Change -138.61% 131.23%

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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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RegulatoryLiabilities
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PublicUtilitiesPropertyPlantAndEquipmentDistributionWater
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PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
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CY2023Q1 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
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PublicUtilitiesPropertyPlantAndEquipmentPlantInService
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CY2023Q1 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
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PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
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PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
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PublicUtilitiesPropertyPlantAndEquipmentNet
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Net
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CY2023Q1 es Amount Of Capacity Provided Under Capacity Contract
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CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
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CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
69100000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2023Q1 us-gaap Available For Sale Securities Debt Securities
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CY2023Q1 us-gaap Guarantee Obligations Current Carrying Value
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CY2022Q4 us-gaap Guarantee Obligations Current Carrying Value
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CY2022Q1 es Number Of Letters Of Credit Issued
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CY2023Q1 es Loss Contingency Percentage Of Incentive Cap On Total Roe
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CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2023Q1 us-gaap Common Stock Shares Authorized
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CY2022Q4 us-gaap Common Stock Shares Authorized
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CY2023Q1 us-gaap Common Stock Shares Issued
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CY2022Q4 us-gaap Common Stock Shares Issued
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CY2023Q1 us-gaap Treasury Stock Shares
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CY2022Q4 us-gaap Treasury Stock Shares
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CY2023Q1 us-gaap Common Stock Shares Outstanding
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CY2022Q4 us-gaap Common Stock Shares Outstanding
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CY2022Q1 us-gaap Dividends Preferred Stock
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CY2023Q1 us-gaap Dividends Preferred Stock
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CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Preferred Carrying Amount
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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394866 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
504787 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
349612013 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
345661133 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.41
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.41
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.28
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.28
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3751800000 usd
CY2023Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
36900000 usd
CY2023Q1 us-gaap Revenue Not From Contract With Customer Other
RevenueNotFromContractWithCustomerOther
6900000 usd
CY2023Q1 us-gaap Revenues
Revenues
3795600000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3452000000 usd
CY2022Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
15800000 usd
CY2022Q1 us-gaap Revenue Not From Contract With Customer Other
RevenueNotFromContractWithCustomerOther
3500000 usd
CY2022Q1 us-gaap Revenues
Revenues
3471300000 usd
CY2023Q1 us-gaap Revenues
Revenues
3795600000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
236900000 usd
CY2023Q1 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
2809100000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
749600000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
194500000 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
89000000.0 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
491200000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
977100000 usd
CY2022Q1 us-gaap Revenues
Revenues
3471300000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
526300000 usd
CY2022Q1 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
2281900000 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
663100000 usd
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
71600000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
443400000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
764600000 usd
CY2023Q1 us-gaap Assets
Assets
54105200000 usd
CY2022Q4 us-gaap Assets
Assets
53230900000 usd
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31

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