2023 Q3 Form 10-Q Financial Statement

#000081555623000041 Filed on July 18, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.846B $1.883B
YoY Change 2.41% 5.88%
Cost Of Revenue $998.3M $1.026B
YoY Change 2.3% 7.84%
Gross Profit $847.6M $857.5M
YoY Change 2.55% 3.61%
Gross Profit Margin 45.92% 45.54%
Selling, General & Admin $460.9M $462.6M
YoY Change 3.04% 4.14%
% of Gross Profit 54.38% 53.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.10M $44.90M
YoY Change -4.54% 8.98%
% of Gross Profit 4.97% 5.24%
Operating Expenses $460.9M $462.6M
YoY Change 3.04% 4.14%
Operating Profit $386.7M $394.9M
YoY Change 1.98% 3.0%
Interest Expense $2.100M -$2.300M
YoY Change -153.85% -182.14%
% of Operating Profit 0.54% -0.58%
Other Income/Expense, Net
YoY Change
Pretax Income $385.4M $392.6M
YoY Change 2.69% 3.13%
Income Tax $89.90M $94.60M
% Of Pretax Income 23.33% 24.1%
Net Earnings $295.5M $298.0M
YoY Change 3.83% 3.8%
Net Earnings / Revenue 16.01% 15.82%
Basic Earnings Per Share $0.52 $0.52
Diluted Earnings Per Share $0.52 $0.52
COMMON SHARES
Basic Shares Outstanding 571.3M shares 571.0M shares
Diluted Shares Outstanding 573.1M shares 572.9M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $297.5M $243.6M
YoY Change 28.51% -1.73%
Cash & Equivalents $297.5M $243.6M
Short-Term Investments
Other Short-Term Assets $150.0M $156.4M
YoY Change -14.48% 21.05%
Inventory $1.514B $1.565B
Prepaid Expenses
Receivables $1.171B $1.172B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.148B $3.137B
YoY Change -1.5% -0.5%
LONG-TERM ASSETS
Property, Plant & Equipment $1.012B $1.274B
YoY Change -19.6% 26.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $163.3M $165.8M
YoY Change -5.88% -5.85%
Total Long-Term Assets $1.449B $1.440B
YoY Change 1.2% 0.01%
TOTAL ASSETS
Total Short-Term Assets $3.148B $3.137B
Total Long-Term Assets $1.449B $1.440B
Total Assets $4.597B $4.577B
YoY Change -0.67% -0.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $275.1M $262.0M
YoY Change -0.76% -10.21%
Accrued Expenses $235.8M $324.6M
YoY Change -37.14% 20.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $60.00M $150.0M
YoY Change -60.08% -23.08%
Total Short-Term Liabilities $667.9M $736.6M
YoY Change -16.78% -13.24%
LONG-TERM LIABILITIES
Long-Term Debt $200.0M $200.0M
YoY Change -50.58% -35.48%
Other Long-Term Liabilities $900.0K $175.1M
YoY Change -99.46% 5.8%
Total Long-Term Liabilities $200.9M $375.1M
YoY Change -64.8% 21.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $667.9M $736.6M
Total Long-Term Liabilities $200.9M $375.1M
Total Liabilities $868.8M $1.196B
YoY Change -40.74% 3.19%
SHAREHOLDERS EQUITY
Retained Earnings $3.508B $3.412B
YoY Change 8.28% 7.58%
Common Stock $30.30M $25.60M
YoY Change 252.33% -58.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.467B $3.381B
YoY Change
Total Liabilities & Shareholders Equity $4.597B $4.577B
YoY Change -0.67% -0.34%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $295.5M $298.0M
YoY Change 3.83% 3.8%
Depreciation, Depletion And Amortization $42.10M $44.90M
YoY Change -4.54% 8.98%
Cash From Operating Activities $388.1M $302.1M
YoY Change 50.48% 99.8%
INVESTING ACTIVITIES
Capital Expenditures $46.90M $55.90M
YoY Change -197.71% 17.68%
Acquisitions
YoY Change
Other Investing Activities $100.0K $1.700M
YoY Change -97.14% 240.0%
Cash From Investing Activities -$43.00M -$54.20M
YoY Change -3.37% 23.46%
FINANCING ACTIVITIES
Cash Dividend Paid $199.8M $199.9M
YoY Change 12.56% 11.99%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $245.0M $455.0M
YoY Change -62.02% 42.19%
Cash From Financing Activities -$286.9M -243.3M
YoY Change 29.94% 183.24%
NET CHANGE
Cash From Operating Activities $388.1M 302.1M
Cash From Investing Activities -$43.00M -54.20M
Cash From Financing Activities -$286.9M -243.3M
Net Change In Cash $53.90M 4.600M
YoY Change -828.38% -66.42%
FREE CASH FLOW
Cash From Operating Activities $388.1M $302.1M
Capital Expenditures $46.90M $55.90M
Free Cash Flow $341.2M $246.2M
YoY Change 11.54% 137.42%

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
577509039 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
572890160 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
577402221 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2244555 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1350936 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1866320 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1354464 shares
fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
52.17
fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
55.20
CY2023Q2 fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
52.96
CY2022Q2 fast Antidilutive Securities Excluded From Computation Of Earnings Per Share Weighted Average Exercise Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareWeightedAverageExercisePrice
55.22
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 usd
CY2023Q2 us-gaap Residual Value Of Leased Asset
ResidualValueOfLeasedAsset
94600000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
350000000.0 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
555000000.0 usd
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
150000000.0 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
201800000 usd
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
200000000.0 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
353200000 usd

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