2022 Q2 Form 10-Q Financial Statement

#000143774922015732 Filed on June 23, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $993.3M $897.4M $827.9M
YoY Change 19.98% 15.4% 22.72%
Cost Of Revenue $739.7M $656.4M $610.3M
YoY Change 21.2% 16.51% 24.63%
Gross Profit $253.5M $241.0M $217.6M
YoY Change 16.53% 12.8% 17.66%
Gross Profit Margin 25.52% 26.85% 26.28%
Selling, General & Admin $166.0M $166.0M $148.4M
YoY Change 11.86% 18.8% 15.95%
% of Gross Profit 65.48% 68.87% 68.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.79M $35.55M $35.93M
YoY Change 2.41% 0.71% 5.35%
% of Gross Profit 14.51% 14.75% 16.51%
Operating Expenses $166.0M $166.0M $148.4M
YoY Change 11.86% 18.8% 15.95%
Operating Profit $87.51M $75.01M $69.14M
YoY Change 26.57% 1.46% 21.51%
Interest Expense -$23.24M -$18.09M -$18.71M
YoY Change 24.18% -25.56% -29.65%
% of Operating Profit -26.55% -24.11% -27.06%
Other Income/Expense, Net $8.800M $9.066M $13.18M
YoY Change -33.23% 6.66% 20.91%
Pretax Income $69.78M $66.00M $63.61M
YoY Change 9.7% 13.6% 54.37%
Income Tax $23.62M $16.67M $16.66M
% Of Pretax Income 33.84% 25.26% 26.19%
Net Earnings $47.20M $50.88M $49.10M
YoY Change -3.87% 25.32% 55.32%
Net Earnings / Revenue 4.75% 5.67% 5.93%
Basic Earnings Per Share $0.88 $0.93
Diluted Earnings Per Share $0.86 $925.5K $0.90
COMMON SHARES
Basic Shares Outstanding 53.50M 52.84M
Diluted Shares Outstanding 55.08M 54.29M

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.15M $61.79M $69.60M
YoY Change -2.08% -38.52% -1.0%
Cash & Equivalents $68.15M $61.79M $69.60M
Short-Term Investments
Other Short-Term Assets $153.2M $96.34M $86.24M
YoY Change 77.62% 18.77% -14.36%
Inventory $543.1M $448.4M $427.8M
Prepaid Expenses
Receivables $644.5M $614.6M $583.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.409B $1.221B $1.167B
YoY Change 20.74% 19.75% 15.78%
LONG-TERM ASSETS
Property, Plant & Equipment $702.5M $695.4M $681.6M
YoY Change 3.06% 3.67% 7.22%
Goodwill $1.406B $1.299B $1.331B
YoY Change 5.7% -1.0% 4.49%
Intangibles $737.6M $687.1M $732.8M
YoY Change 0.65% -9.11% -5.49%
Long-Term Investments $49.33M
YoY Change -8.41%
Other Assets $365.1M $372.1M $355.1M
YoY Change 2.81% 33.74% 23.82%
Total Long-Term Assets $3.211B $3.053B $3.100B
YoY Change 3.6% 1.21% 4.33%
TOTAL ASSETS
Total Short-Term Assets $1.409B $1.221B $1.167B
Total Long-Term Assets $3.211B $3.053B $3.100B
Total Assets $4.620B $4.275B $4.267B
YoY Change 8.29% 5.89% 7.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $507.1M $500.3M $433.5M
YoY Change 16.97% 58.1% 35.64%
Accrued Expenses $86.84M $86.06M $87.32M
YoY Change -0.55% 2.48% 15.74%
Deferred Revenue
YoY Change
Short-Term Debt $31.87M $24.98M $26.86M
YoY Change 18.65% 47.83% 36.33%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $722.0M $736.9M $651.7M
YoY Change 10.79% 38.99% 32.52%
LONG-TERM LIABILITIES
Long-Term Debt $1.904B $1.591B $1.686B
YoY Change 12.96% -9.42% -11.67%
Other Long-Term Liabilities $309.9M $277.2M $277.3M
YoY Change 11.75% -0.62% -0.63%
Total Long-Term Liabilities $2.214B $1.869B $1.963B
YoY Change 12.79% -8.21% -10.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $722.0M $736.9M $651.7M
Total Long-Term Liabilities $2.214B $1.869B $1.963B
Total Liabilities $3.006B $2.677B $2.704B
YoY Change 11.17% 0.84% -2.05%
SHAREHOLDERS EQUITY
Retained Earnings $1.667B $1.601B $1.536B
YoY Change 8.53% 8.56% 8.99%
Common Stock $53.15M $52.78M $52.50M
YoY Change 1.25% 1.68% 1.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.614B $1.597B $1.563B
YoY Change
Total Liabilities & Shareholders Equity $4.620B $4.275B $4.267B
YoY Change 8.29% 5.89% 7.23%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income $47.20M $50.88M $49.10M
YoY Change -3.87% 25.32% 55.32%
Depreciation, Depletion And Amortization $36.79M $35.55M $35.93M
YoY Change 2.41% 0.71% 5.35%
Cash From Operating Activities $8.542M $52.18M $44.03M
YoY Change -80.6% -62.35% -40.5%
INVESTING ACTIVITIES
Capital Expenditures -$20.17M -$18.85M -$15.43M
YoY Change 30.77% 23.22% -31.13%
Acquisitions
YoY Change
Other Investing Activities $1.247M -$151.0K $966.0K
YoY Change 29.09% -95.13% -143.91%
Cash From Investing Activities -$18.93M -$19.00M -$14.46M
YoY Change 30.88% 2.72% -41.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.44M -39.26M -42.22M
YoY Change -172.1% -59.57% -25.02%
NET CHANGE
Cash From Operating Activities 8.542M 52.18M 44.03M
Cash From Investing Activities -18.93M -19.00M -14.46M
Cash From Financing Activities 30.44M -39.26M -42.22M
Net Change In Cash 20.05M -6.076M -12.64M
YoY Change -258.6% -126.42% 83.25%
FREE CASH FLOW
Cash From Operating Activities $8.542M $52.18M $44.03M
Capital Expenditures -$20.17M -$18.85M -$15.43M
Free Cash Flow $28.71M $71.04M $59.46M
YoY Change -51.71% -53.84% -38.32%

Facts In Submission

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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
2746000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-63506000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-4475000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-67981000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-21000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
90303000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-3441000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
86862000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
2000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
17528000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
16000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
165755000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
39000 USD
CY2022Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
4149000 USD
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1248000 USD
CY2022Q2 ful Effective Income Tax Rate Reconciliation Percent Excluding Discrete Tax Benefit
EffectiveIncomeTaxRateReconciliationPercentExcludingDiscreteTaxBenefit
0.279 pure
CY2021Q2 ful Effective Income Tax Rate Reconciliation Cross Currency Swap
EffectiveIncomeTaxRateReconciliationCrossCurrencySwap
600000 USD
ful Effective Income Tax Rate Reconciliation Cross Currency Swap
EffectiveIncomeTaxRateReconciliationCrossCurrencySwap
558000 USD
CY2021Q2 ful Effective Income Tax Rate Reconciliation Percent Excluding Discrete Tax Benefit
EffectiveIncomeTaxRateReconciliationPercentExcludingDiscreteTaxBenefit
0.271 pure
ful Effective Income Tax Rate Reconciliation Percent Excluding Discrete Tax Benefit
EffectiveIncomeTaxRateReconciliationPercentExcludingDiscreteTaxBenefit
0.272 pure
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15414000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
13281000 USD
CY2022Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3215000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2448000 USD
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53497000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52839000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53425000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52666000
CY2022Q2 ful Equivalent Shares From Sharebased Compensations Plans
EquivalentSharesFromSharebasedCompensationsPlans
1581000
CY2021Q2 ful Equivalent Shares From Sharebased Compensations Plans
EquivalentSharesFromSharebasedCompensationsPlans
1455000
ful Equivalent Shares From Sharebased Compensations Plans
EquivalentSharesFromSharebasedCompensationsPlans
1812000
ful Equivalent Shares From Sharebased Compensations Plans
EquivalentSharesFromSharebasedCompensationsPlans
1151000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55078000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54294000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55237000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53817000
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
658511
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
208888
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
744479
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2107062
us-gaap Interest Expense Debt
InterestExpenseDebt
40303000 USD
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1618291000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
117491000 USD
CY2022Q2 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
6378000 USD
CY2021Q4 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
6603000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
5089000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
404000 USD
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
8100000 USD
CY2022Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
500000 USD
CY2022Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1819598000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 pure
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
993258000 USD
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
87514000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
827873000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
69141000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1849739000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
144515000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1553777000 USD
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
87514000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
69141000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
144515000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
117491000 USD
CY2021Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
11879000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
6142000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
19748000 USD
CY2022Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
0 USD
CY2022Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
19828000 USD
CY2021Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
19942000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
38025000 USD
CY2022Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
2091000 USD
CY2021Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
2530000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
4030000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
5189000 USD
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
69777000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
63608000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
116662000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
102125000 USD
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
993258000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
827873000 USD

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