2020 Q4 Form 10-Q Financial Statement

#000109980020000024 Filed on October 26, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $1.192B $1.141B $1.174B
YoY Change 1.5% 4.29% 20.09%
Cost Of Revenue $296.3M $281.0M $286.2M
YoY Change 3.53% -3.9% 21.94%
Gross Profit $895.4M $859.9M $887.9M
YoY Change 0.84% 7.27% 19.5%
Gross Profit Margin 75.14% 75.37% 75.62%
Selling, General & Admin $338.5M $307.2M $347.2M
YoY Change -2.51% 0.33% 20.51%
% of Gross Profit 37.8% 35.73% 39.1%
Research & Development $195.7M $195.5M $193.9M
YoY Change 0.93% 0.0% 18.88%
% of Gross Profit 21.86% 22.74% 21.84%
Depreciation & Amortization $32.60M $25.60M $23.90M
YoY Change 36.4% 10.82% 20.1%
% of Gross Profit 3.64% 2.98% 2.69%
Operating Expenses $539.4M $502.7M $522.6M
YoY Change 3.21% 0.2% 19.53%
Operating Profit $356.0M $357.8M $365.3M
YoY Change -2.55% 21.58% 19.46%
Interest Expense $5.000M $6.100M $7.000M
YoY Change -28.57% -42.99% 9.38%
% of Operating Profit 1.4% 1.7% 1.92%
Other Income/Expense, Net -$300.0K $5.700M -$300.0K
YoY Change 0.0% 23.91% -89.66%
Pretax Income $356.1M $364.3M $315.5M
YoY Change 12.87% 20.75% -17627.78%
Income Tax $46.60M $39.10M $32.50M
% Of Pretax Income 13.09% 10.73% 10.3%
Net Earnings $309.5M $325.2M $280.2M
YoY Change 10.46% 18.38% 3902.86%
Net Earnings / Revenue 25.97% 28.5% 23.87%
Basic Earnings Per Share $0.50 $0.52 $0.45
Diluted Earnings Per Share $0.49 $0.52 $0.44
COMMON SHARES
Basic Shares Outstanding 623.2M shares 622.1M shares 208.6M shares
Diluted Shares Outstanding 631.0M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.403B $1.295B $1.517B
YoY Change -7.54% -4.54% 58.59%
Cash & Equivalents $1.183B $1.024B $1.179B
Short-Term Investments $219.4M $271.3M $337.8M
Other Short-Term Assets $208.2M $171.5M $168.0M
YoY Change 23.93% 18.77% 27.47%
Inventory $802.3M $773.3M $640.9M
Prepaid Expenses $75.10M $68.60M $59.10M
Receivables $514.6M $549.7M $543.6M
Other Receivables $88.20M $122.0M $55.50M
Total Short-Term Assets $3.091B $2.980B $2.984B
YoY Change 3.59% 8.79% 30.48%
LONG-TERM ASSETS
Property, Plant & Equipment $1.395B $1.276B $1.060B
YoY Change 31.59% 31.09% 22.22%
Goodwill $1.173B $1.170B $1.168B
YoY Change 0.47% 1.16% 4.99%
Intangibles $331.4M $332.4M $336.5M
YoY Change -1.52% -12.78% -1.95%
Long-Term Investments $5.700M $5.500M $6.200M
YoY Change -8.06% -20.29% 40.91%
Other Assets $119.6M $138.0M $101.8M
YoY Change 17.49% 37.72% 202.98%
Total Long-Term Assets $4.146B $3.820B $3.504B
YoY Change 18.32% 18.4% 15.39%
TOTAL ASSETS
Total Short-Term Assets $3.091B $2.980B $2.984B
Total Long-Term Assets $4.146B $3.820B $3.504B
Total Assets $7.237B $6.801B $6.488B
YoY Change 11.54% 13.99% 21.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $196.5M $162.5M $180.4M
YoY Change 8.92% 19.57% 34.63%
Accrued Expenses $578.7M $573.8M $642.7M
YoY Change -9.96% -3.98% 25.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $893.9M $846.3M $902.4M
YoY Change -0.94% 9.09% 2.94%
LONG-TERM LIABILITIES
Long-Term Debt $595.0M $594.9M $594.4M
YoY Change 0.1% 0.12% 0.1%
Other Long-Term Liabilities $252.4M $484.0M $203.3M
YoY Change 24.15% 202.69% 35.53%
Total Long-Term Liabilities $847.4M $1.079B $797.7M
YoY Change 6.23% 43.07% 7.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $893.9M $846.3M $902.4M
Total Long-Term Liabilities $847.4M $1.079B $797.7M
Total Liabilities $2.663B $1.925B $1.700B
YoY Change 56.63% 25.84% 4.92%
SHAREHOLDERS EQUITY
Retained Earnings $4.565B $4.256B $3.742B
YoY Change 22.01% 22.94% 38.85%
Common Stock $2.075B $2.017B $1.841B
YoY Change 12.66% 12.79% 15.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.904B $1.904B $1.279B
YoY Change 48.91% 48.89% 25.93%
Treasury Stock Shares 12.10M shares 12.10M shares 9.000M shares
Shareholders Equity $4.574B $4.210B $4.148B
YoY Change
Total Liabilities & Shareholders Equity $7.237B $6.801B $6.488B
YoY Change 11.54% 13.99% 21.87%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income $309.5M $325.2M $280.2M
YoY Change 10.46% 18.38% 3902.86%
Depreciation, Depletion And Amortization $32.60M $25.60M $23.90M
YoY Change 36.4% 10.82% 20.1%
Cash From Operating Activities $400.0M $216.1M $399.4M
YoY Change 0.15% -50.58% 36.31%
INVESTING ACTIVITIES
Capital Expenditures -$113.5M -$103.3M -$71.50M
YoY Change 58.74% 35.74% 17.99%
Acquisitions
YoY Change
Other Investing Activities -$146.4M -$23.00M -$373.8M
YoY Change -60.83% -136.28% -663.8%
Cash From Investing Activities -$259.9M -$126.3M -$445.3M
YoY Change -41.63% 894.49% -7912.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 41.40M 34.00M 37.00M
YoY Change 11.89% -1.16% -104.38%
NET CHANGE
Cash From Operating Activities 400.0M 216.1M 399.4M
Cash From Investing Activities -259.9M -126.3M -445.3M
Cash From Financing Activities 41.40M 34.00M 37.00M
Net Change In Cash 181.5M 123.8M -8.900M
YoY Change -2139.33% -73.03% -98.37%
FREE CASH FLOW
Cash From Operating Activities $400.0M $216.1M $399.4M
Capital Expenditures -$113.5M -$103.3M -$71.50M
Free Cash Flow $513.5M $319.4M $470.9M
YoY Change 9.05% -37.79% 33.17%

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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5600000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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3800000 USD
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CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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200000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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100000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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300000 USD
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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6000000.0 USD
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CY2019Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2019Q3 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Share Based Compensation
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us-gaap Inventory Write Down
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us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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274700000 USD
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8900000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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11700000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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6500000 shares
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636300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Diluted
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1.20
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250500000 USD
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50100000 USD
CY2020Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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173900000 USD
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153000000.0 USD
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12400000 USD
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364300000 USD
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301700000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2020Q3 us-gaap Noncurrent Assets
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1502900000 USD
CY2019Q4 us-gaap Noncurrent Assets
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1241700000 USD

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