2023 Q2 Form 10-Q Financial Statement

#000165916623000148 Filed on April 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $1.526B $1.461B
YoY Change 10.89%
Cost Of Revenue $621.0M $612.5M
YoY Change 6.24%
Gross Profit $905.4M $848.2M
YoY Change 14.32%
Gross Profit Margin 59.32% 58.07%
Selling, General & Admin $514.0M $507.7M
YoY Change 6.95%
% of Gross Profit 56.77% 59.86%
Research & Development $100.1M $100.1M
YoY Change 1.01%
% of Gross Profit 11.06% 11.8%
Depreciation & Amortization $113.5M $20.40M
YoY Change 427.91%
% of Gross Profit 12.54% 2.41%
Operating Expenses $614.1M $607.8M
YoY Change 5.93%
Operating Profit $291.3M $240.4M
YoY Change 37.21%
Interest Expense -$33.10M $32.10M
YoY Change -276.06%
% of Operating Profit -11.36% 13.35%
Other Income/Expense, Net -$7.800M -$2.500M
YoY Change 188.89%
Pretax Income $250.4M $205.8M
YoY Change 31.24%
Income Tax $41.40M $32.20M
% Of Pretax Income 16.53% 15.65%
Net Earnings $209.0M $173.6M
YoY Change 26.59%
Net Earnings / Revenue 13.69% 11.88%
Basic Earnings Per Share $0.59 $0.49
Diluted Earnings Per Share $0.59 $0.49
COMMON SHARES
Basic Shares Outstanding 353.5M shares 353.2M shares
Diluted Shares Outstanding 355.5M shares 356.5M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $712.8M $672.8M
YoY Change 4.16%
Cash & Equivalents $712.8M $672.8M
Short-Term Investments
Other Short-Term Assets $168.4M $271.6M
YoY Change -40.09%
Inventory $561.2M $570.2M
Prepaid Expenses
Receivables $1.032B $940.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.475B $2.455B
YoY Change 1.1%
LONG-TERM ASSETS
Property, Plant & Equipment $425.9M $425.6M
YoY Change 3.22%
Goodwill $9.052B $9.057B
YoY Change -0.89%
Intangibles $3.304B $3.397B
YoY Change -12.8%
Long-Term Investments
YoY Change
Other Assets $474.3M $470.0M
YoY Change -2.06%
Total Long-Term Assets $13.26B $13.35B
YoY Change -4.07%
TOTAL ASSETS
Total Short-Term Assets $2.475B $2.455B
Total Long-Term Assets $13.26B $13.35B
Total Assets $15.73B $15.80B
YoY Change -3.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $585.6M $593.0M
YoY Change 1.65%
Accrued Expenses $504.1M $1.037B
YoY Change -48.86%
Deferred Revenue $495.4M $497.2M
YoY Change 0.81%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $999.9M $999.8M
YoY Change 0.01%
Total Short-Term Liabilities $2.585B $2.630B
YoY Change 0.91%
LONG-TERM LIABILITIES
Long-Term Debt $1.978B $2.095B
YoY Change -27.77%
Other Long-Term Liabilities $1.196B $1.204B
YoY Change -14.54%
Total Long-Term Liabilities $3.174B $3.299B
YoY Change -23.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.585B $2.630B
Total Long-Term Liabilities $3.174B $3.299B
Total Liabilities $5.765B $5.929B
YoY Change -13.95%
SHAREHOLDERS EQUITY
Retained Earnings $7.075B $6.891B
YoY Change 13.64%
Common Stock $3.600M $3.600M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $442.9M
YoY Change
Treasury Stock Shares
Shareholders Equity $9.966B $9.870B
YoY Change
Total Liabilities & Shareholders Equity $15.73B $15.80B
YoY Change -3.29%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $209.0M $173.6M
YoY Change 26.59%
Depreciation, Depletion And Amortization $113.5M $20.40M
YoY Change 427.91%
Cash From Operating Activities $321.0M $174.4M
YoY Change 49.44%
INVESTING ACTIVITIES
Capital Expenditures $21.00M $24.80M
YoY Change 11.7%
Acquisitions $0.00
YoY Change
Other Investing Activities $4.900M $0.00
YoY Change 444.44%
Cash From Investing Activities -$16.10M -$24.80M
YoY Change -10.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -254.3M -$187.1M
YoY Change -23.54%
NET CHANGE
Cash From Operating Activities 321.0M $174.4M
Cash From Investing Activities -16.10M -$24.80M
Cash From Financing Activities -254.3M -$187.1M
Net Change In Cash 50.60M -$36.40M
YoY Change -137.48%
FREE CASH FLOW
Cash From Operating Activities $321.0M $174.4M
Capital Expenditures $21.00M $24.80M
Free Cash Flow $300.0M $149.6M
YoY Change 53.06%

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CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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CY2023Q1 ftv Standard And Extended Product Warranty Accrual Warranty Period
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CY2023Q1 us-gaap Income Loss From Continuing Operations
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173600000 usd
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CY2023Q1 us-gaap Interest On Convertible Debt Net Of Tax
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CY2023Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2022Q2 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2022Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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6400000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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356500000 shares
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CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2023Q1 us-gaap Dividends Common Stock Cash
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24700000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
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CY2023Q1 us-gaap Dividends Common Stock Cash
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24700000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2022Q2 us-gaap Dividends Common Stock Cash
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25100000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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25100000 usd
CY2022Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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CY2022Q2 us-gaap Treasury Stock Shares Acquired
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CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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13000000 usd
CY2023Q1 us-gaap Number Of Reportable Segments
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CY2023Q1 us-gaap Interest Expense
InterestExpense
32100000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
18800000 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
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CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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205800000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
190800000 usd

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