2021 Q4 Form 10-K Financial Statement

#000003872522000033 Filed on February 25, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $432.5M $1.662B $321.1M
YoY Change 34.7% 33.24% 0.31%
Cost Of Revenue $287.3M $1.086B $209.7M
YoY Change 37.02% 33.36% -4.2%
Gross Profit $145.2M $576.1M $111.4M
YoY Change 30.33% 33.0% 9.97%
Gross Profit Margin 33.57% 34.66% 34.69%
Selling, General & Admin $96.84M $386.3M $76.70M
YoY Change 26.26% 28.71% 6.82%
% of Gross Profit 66.7% 67.05% 68.85%
Research & Development $17.30M
YoY Change -20.28%
% of Gross Profit 3.0%
Depreciation & Amortization $11.81M $44.57M $9.600M
YoY Change 22.97% 22.16% 3.23%
% of Gross Profit 8.13% 7.74% 8.62%
Operating Expenses $96.84M $403.6M $76.70M
YoY Change 26.26% 25.4% 6.97%
Operating Profit $48.35M $189.2M $34.70M
YoY Change 39.33% 44.98% 17.23%
Interest Expense -$1.971M $5.196M -$2.400M
YoY Change -17.88% 12.3% -55.56%
% of Operating Profit -4.08% 2.75% -6.92%
Other Income/Expense, Net $6.447M $7.978M $300.0K
YoY Change 2049.0% -1103.52% -400.0%
Pretax Income $51.68M $189.7M $32.20M
YoY Change 60.51% 53.35% 39.39%
Income Tax $10.69M $34.70M $5.200M
% Of Pretax Income 20.68% 18.29% 16.15%
Net Earnings $40.67M $153.9M $26.80M
YoY Change 51.74% 53.13% 35.35%
Net Earnings / Revenue 9.4% 9.26% 8.35%
Basic Earnings Per Share $3.29
Diluted Earnings Per Share $865.3K $3.25 $570.2K
COMMON SHARES
Basic Shares Outstanding 46.43M shares 46.40M shares 46.20M shares
Diluted Shares Outstanding 47.00M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.54M $40.54M $130.8M
YoY Change -69.01% -69.01% 103.11%
Cash & Equivalents $40.54M $40.54M $130.8M
Short-Term Investments
Other Short-Term Assets $37.96M $37.96M $27.71M
YoY Change 37.01% 37.05% -5.97%
Inventory $450.0M $450.0M $300.9M
Prepaid Expenses
Receivables $196.2M $196.2M $159.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $724.6M $724.6M $619.3M
YoY Change 17.02% 17.01% 9.13%
LONG-TERM ASSETS
Property, Plant & Equipment $210.7M $259.0M $209.0M
YoY Change 0.78% 7.48% 3.82%
Goodwill $329.6M $266.7M
YoY Change 23.58% 4.14%
Intangibles $249.7M $133.8M
YoY Change 86.64% 2.02%
Long-Term Investments
YoY Change
Other Assets $4.489M $12.16M $2.735M
YoY Change 64.13% 4.86% 37.23%
Total Long-Term Assets $850.6M $850.5M $653.0M
YoY Change 30.24% 30.25% 4.11%
TOTAL ASSETS
Total Short-Term Assets $724.6M $724.6M $619.3M
Total Long-Term Assets $850.6M $850.5M $653.0M
Total Assets $1.575B $1.575B $1.272B
YoY Change 23.81% 23.8% 6.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $164.8M $164.8M $95.90M
YoY Change 71.8% 71.8% 16.12%
Accrued Expenses $115.4M $130.7M $100.1M
YoY Change 15.28% 30.6% 27.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $97.98M $97.98M $2.600M
YoY Change 3668.5% 3668.5% -88.13%
Total Short-Term Liabilities $396.0M $396.0M $203.7M
YoY Change 94.41% 94.41% 9.66%
LONG-TERM LIABILITIES
Long-Term Debt $90.54M $90.54M $92.00M
YoY Change -1.59% -1.59% -1.18%
Other Long-Term Liabilities $26.57M $111.8M $23.99M
YoY Change 10.76% 10.38% 10.19%
Total Long-Term Liabilities $26.57M $202.3M $23.99M
YoY Change 10.76% 4.68% 10.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $396.0M $396.0M $203.7M
Total Long-Term Liabilities $26.57M $202.3M $23.99M
Total Liabilities $422.6M $628.7M $227.7M
YoY Change 85.59% 48.1% 9.71%
SHAREHOLDERS EQUITY
Retained Earnings $859.8M $764.6M
YoY Change 12.46% 7.31%
Common Stock $315.3M $288.0M
YoY Change 9.45% 5.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $946.5M $946.5M $847.8M
YoY Change
Total Liabilities & Shareholders Equity $1.575B $1.575B $1.272B
YoY Change 23.8% 23.8% 6.49%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $40.67M $153.9M $26.80M
YoY Change 51.74% 53.13% 35.35%
Depreciation, Depletion And Amortization $11.81M $44.57M $9.600M
YoY Change 22.97% 22.16% 3.23%
Cash From Operating Activities $35.86M $129.8M $78.20M
YoY Change -54.14% -38.75% -10.63%
INVESTING ACTIVITIES
Capital Expenditures -$9.842M $30.12M -$7.700M
YoY Change 27.82% 31.76% 22.22%
Acquisitions $235.7M
YoY Change 321.53%
Other Investing Activities -$41.58M -$33.00K -$49.90M
YoY Change -16.68% -144.59%
Cash From Investing Activities -$51.42M -$264.8M -$57.40M
YoY Change -10.42% 236.0% 825.81%
FINANCING ACTIVITIES
Cash Dividend Paid $33.40M
YoY Change 12.55%
Common Stock Issuance & Retirement, Net $10.43M
YoY Change -34.15%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.25M $50.89M -8.100M
YoY Change 113.02% -176.44% -87.65%
NET CHANGE
Cash From Operating Activities 35.86M $129.8M 78.20M
Cash From Investing Activities -51.42M -$264.8M -57.40M
Cash From Financing Activities -17.25M $50.89M -8.100M
Net Change In Cash -32.82M -$90.25M 12.70M
YoY Change -358.39% -235.96% -19.11%
FREE CASH FLOW
Cash From Operating Activities $35.86M $129.8M $78.20M
Capital Expenditures -$9.842M $30.12M -$7.700M
Free Cash Flow $45.70M $99.65M $85.90M
YoY Change -46.8% -47.28% -8.42%

Facts In Submission

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CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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11700000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10100000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8900000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1661900000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1247300000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1314600000 USD
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
189200000 USD
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
130500000 USD
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
127100000 USD
CY2021Q4 us-gaap Assets
Assets
1575200000 USD
CY2020Q4 us-gaap Assets
Assets
1272300000 USD
CY2019Q4 us-gaap Assets
Assets
1194700000 USD
CY2021 us-gaap Depreciation
Depreciation
30200000 USD
CY2020 us-gaap Depreciation
Depreciation
27100000 USD
CY2020 fele Capital Expenditures Incurred In Year Paid And Not Paid
CapitalExpendituresIncurredInYearPaidAndNotPaid
22900000 USD
CY2019 us-gaap Depreciation
Depreciation
27600000 USD
CY2021 us-gaap Adjustment For Amortization
AdjustmentForAmortization
14400000 USD
CY2020 us-gaap Adjustment For Amortization
AdjustmentForAmortization
9400000 USD
CY2019 us-gaap Adjustment For Amortization
AdjustmentForAmortization
9400000 USD
CY2021 fele Capital Expenditures Incurred In Year Paid And Not Paid
CapitalExpendituresIncurredInYearPaidAndNotPaid
30100000 USD
CY2019 fele Capital Expenditures Incurred In Year Paid And Not Paid
CapitalExpendituresIncurredInYearPaidAndNotPaid
22100000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1661900000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1247300000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1314600000 USD
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
842900000 USD
CY2020Q4 us-gaap Noncurrent Assets
NoncurrentAssets
644200000 USD
CY2019Q4 us-gaap Noncurrent Assets
NoncurrentAssets
618100000 USD
CY2021 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
13200000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9700000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9100000 USD
CY2021 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
9700000 USD
CY2020 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
9400000 USD
CY2021 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
100000 USD
CY2020 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
600000 USD
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
9000000.0 USD
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
9400000 USD
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
10500000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9700000 USD
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
13600000 USD
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
11400000 USD
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
11700000 USD
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
600000 USD
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
400000 USD
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
500000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y2M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.039
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.037
CY2021Q4 fele Lessee Operating Lease Lease Not Yet Commenced Rou Asset
LesseeOperatingLeaseLeaseNotYetCommencedROUAsset
1100000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
52400000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16400000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12300000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8300000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5300000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3900000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
6200000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4100000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
48300000 USD
CY2021 dei Auditor Name
AuditorName
Deloitte & Touche LLP
CY2021 dei Auditor Location
AuditorLocation
Chicago, Illinois

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