2024 Q1 Form 10-K Financial Statement

#000007274124000005 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $3.333B $2.690B $11.91B
YoY Change -12.2% -9.05% -3.08%
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 $337.6M $343.3M $815.7M
YoY Change 42.51% 11.28% -50.36%
% of Gross Profit
Operating Expenses $2.487B $2.136B $9.511B
YoY Change -18.37% -14.83% -5.75%
Operating Profit $846.0M $2.399B
YoY Change 12.86% 9.15%
Interest Expense $250.7M -$206.2M $855.4M
YoY Change 28.89% 25.0% 26.11%
% of Operating Profit 29.63% 35.65%
Other Income/Expense, Net $91.00M $59.99M $348.1M
YoY Change 2.25% -13.23% 0.58%
Pretax Income $686.3M -$1.354B -$275.0M
YoY Change 6.56% -417.53% -114.74%
Income Tax $162.5M -$67.06M $159.7M
% Of Pretax Income 23.68%
Net Earnings $523.7M -$1.288B -$434.7M
YoY Change 6.22% -502.45% -130.78%
Net Earnings / Revenue 15.72% -47.9% -3.65%
Basic Earnings Per Share $1.49 -$1.27
Diluted Earnings Per Share $1.49 -$3.68 -$1.26
COMMON SHARES
Basic Shares Outstanding 349.7M shares 349.3M shares 349.6M shares
Diluted Shares Outstanding 351.0M shares 349.8M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $259.2M $53.87M $53.87M
YoY Change 620.54% -85.62% -85.62%
Cash & Equivalents $360.4M $53.90M $0.00
Short-Term Investments
Other Short-Term Assets $387.9M $355.8M $2.255B
YoY Change -17.18% -7.02% 15.24%
Inventory $555.2M $507.3M $507.3M
Prepaid Expenses
Receivables $1.593B $1.432B $1.432B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.881B $4.248B $4.248B
YoY Change 18.0% 0.59% 0.59%
LONG-TERM ASSETS
Property, Plant & Equipment $40.29B $39.55B $39.55B
YoY Change 9.65% 9.35% 9.35%
Goodwill $4.532B $4.532B
YoY Change 0.21% 0.21%
Intangibles
YoY Change
Long-Term Investments $741.7M $660.5M $998.3M
YoY Change -67.79% -69.65% -60.74%
Other Assets $619.5M $592.1M $6.282B
YoY Change 10.5% 9.37% 8.82%
Total Long-Term Assets $52.44B $51.36B $51.36B
YoY Change 4.95% 4.81% 4.81%
TOTAL ASSETS
Total Short-Term Assets $4.881B $4.248B $4.248B
Total Long-Term Assets $52.44B $51.36B $51.36B
Total Assets $57.32B $55.61B $55.61B
YoY Change 5.95% 4.47% 4.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.664B $1.869B $1.869B
YoY Change -8.69% -11.58% -11.58%
Accrued Expenses $9.500M $9.500M
YoY Change 5.56% 5.56%
Deferred Revenue
YoY Change
Short-Term Debt $2.103B $1.930B $1.930B
YoY Change 75.9% 33.85% 33.85%
Long-Term Debt Due $865.4M $824.8M $873.5M
YoY Change -46.43% -37.52% -36.11%
Total Short-Term Liabilities $6.368B $6.341B $6.341B
YoY Change -0.58% -6.73% -6.73%
LONG-TERM LIABILITIES
Long-Term Debt $24.93B $23.59B $24.02B
YoY Change 21.24% 19.59% 19.0%
Other Long-Term Liabilities $983.9M $961.2M $5.613B
YoY Change 11.21% 8.24% 1.21%
Total Long-Term Liabilities $25.91B $24.55B $29.64B
YoY Change 20.82% 19.1% 15.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.368B $6.341B $6.341B
Total Long-Term Liabilities $25.91B $24.55B $29.64B
Total Liabilities $32.28B $30.89B $41.28B
YoY Change 15.9% 12.7% 9.79%
SHAREHOLDERS EQUITY
Retained Earnings $4.414B $4.143B
YoY Change -23.68% -25.05%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $185.4M $195.7M
YoY Change -11.44% -9.5%
Treasury Stock Shares
Shareholders Equity $14.54B $14.17B $14.33B
YoY Change
Total Liabilities & Shareholders Equity $57.32B $55.61B $55.61B
YoY Change 5.95% 4.47% 4.47%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $523.7M -$1.288B -$434.7M
YoY Change 6.22% -502.45% -130.78%
Depreciation, Depletion And Amortization $337.6M $343.3M $815.7M
YoY Change 42.51% 11.28% -50.36%
Cash From Operating Activities $291.3M $477.0M $1.646B
YoY Change 321.23% -33.05% -31.45%
INVESTING ACTIVITIES
Capital Expenditures $1.149B $1.211B $4.337B
YoY Change 17.64% 11.21% 26.0%
Acquisitions
YoY Change
Other Investing Activities -$5.850M $299.5M $2.897M
YoY Change 3.72% -364.5% -114.19%
Cash From Investing Activities -$1.447B -$911.7M -$4.871B
YoY Change 37.59% -24.17% 17.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $0.00 $2.008B
YoY Change -100.0% 70.93%
Cash From Financing Activities $1.350B 420.2M $2.869B
YoY Change 116.47% 2.63% 41.35%
NET CHANGE
Cash From Operating Activities $291.3M 477.0M $1.646B
Cash From Investing Activities -$1.447B -911.7M -$4.871B
Cash From Financing Activities $1.350B 420.2M $2.869B
Net Change In Cash $194.0M -14.53M -$355.3M
YoY Change -154.04% -81.95% -218.15%
FREE CASH FLOW
Cash From Operating Activities $291.3M $477.0M $1.646B
Capital Expenditures $1.149B $1.211B $4.337B
Free Cash Flow -$858.1M -$734.3M -$2.691B
YoY Change -5.49% 94.92% 158.57%

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CY2023 dei Auditor Name
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Deloitte & Touche LLP
CY2023 dei Auditor Name
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CY2023 es Numberof Electric Natural Gas And Water Customers
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CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2022 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2023 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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CY2022Q4 us-gaap Inventory Gross
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CY2023 es Fuel Power Costs
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CY2023 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
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CY2022 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
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CY2021 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Interest
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CY2022 es Allowance For Funds Used During Construction
AllowanceForFundsUsedDuringConstruction
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AllowanceForFundsUsedDuringConstruction
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CY2023 us-gaap Public Utilities Allowance For Funds Used During Construction Rate
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Distribution
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CY2023Q4 us-gaap Public Utilities Property Plant And Equipment Transmission
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Generation Or Processing
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PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Other Property Plant And Equipment
PublicUtilitiesPropertyPlantAndEquipmentOtherPropertyPlantAndEquipment
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CY2023Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
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CY2023Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
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CY2023Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
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CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Net
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CY2023 us-gaap Public Utilities Property Plant And Equipment Disclosure Of Composite Depreciation Rate For Plants In Service
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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CY2022 us-gaap Equity Method Investment Dividends Or Distributions
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CY2023Q3 es Reduction Of Federal Tax Liability Or Generate Tax Refunds Period
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CY2023Q4 us-gaap Equity Method Investment Other Than Temporary Impairment
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CY2023Q4 es Equity Method Investment Other Than Temporary Impairment After Tax
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CY2023 us-gaap Equity Method Investment Other Than Temporary Impairment
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CY2023 es Equity Method Investment Other Than Temporary Impairment After Tax
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CY2023Q4 es Number Of Offshore Wind Projects
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CY2023Q4 es Number Of Offshore Wind Projects
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CY2021Q4 us-gaap Asset Retirement Obligation
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CY2023 us-gaap Asset Retirement Obligation Liabilities Settled
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CY2023 us-gaap Asset Retirement Obligation Accretion Expense
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CY2022 us-gaap Asset Retirement Obligation Accretion Expense
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CY2023 us-gaap Asset Retirement Obligation Revision Of Estimate
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
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CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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