2021 Q3 Form 10-Q Financial Statement

#000003991121000108 Filed on August 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $4.211B $3.275B $2.107B
YoY Change 28.58% -18.23% -43.15%
Cost Of Revenue $2.388B $2.126B $1.839B
YoY Change 12.32% -13.19% -22.14%
Gross Profit $1.823B $1.149B $268.0M
YoY Change 58.66% -26.16% -80.06%
Gross Profit Margin 43.29% 35.08% 12.72%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $124.0M $126.0M $130.0M
YoY Change -1.59% -9.35% -5.8%
% of Gross Profit 6.8% 10.97% 48.51%
Operating Expenses $1.414B $1.076B $1.512B
YoY Change 31.41% -15.54% 47.08%
Operating Profit $409.0M $73.00M -$1.244B
YoY Change 460.27% -74.11% -493.67%
Interest Expense $51.00M $58.00M $19.00M
YoY Change -12.07% 205.26% -5.0%
% of Operating Profit 12.47% 79.45%
Other Income/Expense, Net
YoY Change
Pretax Income $359.0M -$41.00M -$1.259B
YoY Change -975.61% -115.13% -516.89%
Income Tax $101.0M $21.00M -$327.0M
% Of Pretax Income 28.13%
Net Earnings $258.0M -$62.00M -$932.0M
YoY Change -516.13% -136.9% -510.57%
Net Earnings / Revenue 6.13% -1.89% -44.23%
Basic Earnings Per Share $0.68 -$0.17 -$2.51
Diluted Earnings Per Share $0.67 -$0.17 -$2.51
COMMON SHARES
Basic Shares Outstanding 378.0M shares 374.0M shares 372.0M shares
Diluted Shares Outstanding 386.0M shares 374.0M shares 372.0M shares

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.712B $2.213B $1.079B
YoY Change 22.55% 50.44% -11.05%
Cash & Equivalents $2.375B $2.188B $1.028B
Short-Term Investments $337.0M $25.00M $51.00M
Other Short-Term Assets $1.201B $882.0M $920.0M
YoY Change 36.17% 14.55% 21.53%
Inventory $2.281B $2.242B $2.217B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.194B $5.337B $4.216B
YoY Change 16.06% 16.86% 0.09%
LONG-TERM ASSETS
Property, Plant & Equipment $2.897B $2.895B $2.945B
YoY Change 0.07% -7.83% -5.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $693.0M $795.0M $698.0M
YoY Change -12.83% 50.57% 27.61%
Total Long-Term Assets $7.565B $8.379B $8.494B
YoY Change -9.71% -11.58% -9.72%
TOTAL ASSETS
Total Short-Term Assets $6.194B $5.337B $4.216B
Total Long-Term Assets $7.565B $8.379B $8.494B
Total Assets $13.76B $13.72B $12.71B
YoY Change 0.31% -2.33% -6.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.583B $1.629B $971.0M
YoY Change -2.82% 30.74% -2.31%
Accrued Expenses $1.252B $1.124B $1.051B
YoY Change 11.39% 23.79% 19.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $500.0M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.651B $3.649B $3.431B
YoY Change 0.05% 16.43% 21.19%
LONG-TERM LIABILITIES
Long-Term Debt $2.220B $2.212B $1.250B
YoY Change 0.36% 77.1% 0.08%
Other Long-Term Liabilities $4.868B $5.602B $5.712B
YoY Change -13.1% -7.17% -4.31%
Total Long-Term Liabilities $7.088B $7.814B $6.962B
YoY Change -9.29% 7.28% -3.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.651B $3.649B $3.431B
Total Long-Term Liabilities $7.088B $7.814B $6.962B
Total Liabilities $10.74B $11.46B $10.39B
YoY Change -6.32% 10.03% 3.42%
SHAREHOLDERS EQUITY
Retained Earnings $2.879B $2.173B $2.235B
YoY Change 32.49% -38.81% -36.05%
Common Stock $19.00M $19.00M $19.00M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.020B $2.253B $2.317B
YoY Change
Total Liabilities & Shareholders Equity $13.76B $13.72B $12.71B
YoY Change 0.31% -2.33% -6.68%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $258.0M -$62.00M -$932.0M
YoY Change -516.13% -136.9% -510.57%
Depreciation, Depletion And Amortization $124.0M $126.0M $130.0M
YoY Change -1.59% -9.35% -5.8%
Cash From Operating Activities $452.0M $853.0M -$940.0M
YoY Change -47.01% 53.97% -3341.38%
INVESTING ACTIVITIES
Capital Expenditures -$145.0M -$86.00M $122.0M
YoY Change 68.6% -45.91% -26.06%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $89.00M $30.00M $238.0M
YoY Change 196.67% -242.86%
Cash From Investing Activities -$56.00M -$56.00M $116.0M
YoY Change 0.0% -68.89% -134.12%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -85.00M 387.0M $499.0M
YoY Change -121.96% -386.67% -430.46%
NET CHANGE
Cash From Operating Activities 452.0M 853.0M -$940.0M
Cash From Investing Activities -56.00M -56.00M $116.0M
Cash From Financing Activities -85.00M 387.0M $499.0M
Net Change In Cash 311.0M 1.184B -$333.0M
YoY Change -73.73% 395.4% -27.92%
FREE CASH FLOW
Cash From Operating Activities $452.0M $853.0M -$940.0M
Capital Expenditures -$145.0M -$86.00M $122.0M
Free Cash Flow $597.0M $939.0M -$1.062B
YoY Change -36.42% 31.7% 680.88%

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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.235
CY2021Q3 gps Cashand Equivalentsportionof Availablefor Sale Securities
CashandEquivalentsportionofAvailableforSaleSecurities
363000000 USD
CY2021Q1 gps Cashand Equivalentsportionof Availablefor Sale Securities
CashandEquivalentsportionofAvailableforSaleSecurities
90000000 USD
CY2020Q3 gps Cashand Equivalentsportionof Availablefor Sale Securities
CashandEquivalentsportionofAvailableforSaleSecurities
0 USD
CY2021Q3 gps Total Impairment Charges
TotalImpairmentCharges
0 USD
CY2021Q3 gps Total Impairment Charges
TotalImpairmentCharges
0 USD
CY2020Q3 gps Total Impairment Charges
TotalImpairmentCharges
0 USD
CY2021Q3 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2020Q3 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q3 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.281
CY2021Q3 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1406000000 USD
CY2021Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1319000000 USD
CY2020Q3 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
941000000 USD
CY2021Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2388000000 USD
CY2021Q3 us-gaap Operating Expenses
OperatingExpenses
1414000000 USD
CY2020Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2126000000 USD
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
1076000000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
4749000000 USD
us-gaap Operating Expenses
OperatingExpenses
2804000000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
3965000000 USD
us-gaap Operating Expenses
OperatingExpenses
2588000000 USD
CY2021Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1800000 shares
CY2020Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1800000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2021Q3 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
55000000 USD
CY2020Q3 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
0 USD
us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
55000000 USD
us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
0 USD
CY2021Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
31.55
CY2020Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
31.55
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0
CY2019Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 USD
CY2021Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
745000000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
378000000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
374000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
377000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
373000000 shares
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
8000000 shares
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
8000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
386000000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
374000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
385000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
373000000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3000000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15000000 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-59000000 USD

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