2021 Q4 Form 10-Q Financial Statement

#000003991121000132 Filed on November 24, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4 2020 Q3
Revenue $3.943B $3.994B $3.275B
YoY Change -1.28% -0.1% -18.23%
Cost Of Revenue $2.282B $2.374B $2.126B
YoY Change -3.88% -2.67% -13.19%
Gross Profit $1.661B $1.620B $1.149B
YoY Change 2.53% 3.91% -26.16%
Gross Profit Margin 42.13% 40.56% 35.08%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $128.0M $125.0M $126.0M
YoY Change 2.4% -10.71% -9.35%
% of Gross Profit 7.71% 7.72% 10.97%
Operating Expenses $1.508B $1.445B $1.076B
YoY Change 4.36% 8.0% -15.54%
Operating Profit $153.0M $175.0M $73.00M
YoY Change -12.57% -20.81% -74.11%
Interest Expense $44.00M $55.00M $58.00M
YoY Change -20.0% 189.47% 205.26%
% of Operating Profit 28.76% 31.43% 79.45%
Other Income/Expense, Net
YoY Change
Pretax Income -$215.0M $121.0M -$41.00M
YoY Change -277.69% -42.11% -115.13%
Income Tax -$63.00M $26.00M $21.00M
% Of Pretax Income 21.49%
Net Earnings -$152.0M $95.00M -$62.00M
YoY Change -260.0% -32.14% -136.9%
Net Earnings / Revenue -3.85% 2.38% -1.89%
Basic Earnings Per Share -$0.40 $0.25 -$0.17
Diluted Earnings Per Share -$0.40 $0.25 -$0.17
COMMON SHARES
Basic Shares Outstanding 376.0M shares 374.0M shares 374.0M shares
Diluted Shares Outstanding 376.0M shares 380.0M shares 374.0M shares

Balance Sheet

Concept 2021 Q4 2020 Q4 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.076B $2.649B $2.213B
YoY Change -59.38% 144.82% 50.44%
Cash & Equivalents $801.0M $2.471B $2.188B
Short-Term Investments $275.0M $178.0M $25.00M
Other Short-Term Assets $1.410B $966.0M $882.0M
YoY Change 45.96% 25.45% 14.55%
Inventory $2.721B $2.747B $2.242B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $5.207B $6.362B $5.337B
YoY Change -18.15% 39.15% 16.86%
LONG-TERM ASSETS
Property, Plant & Equipment $2.924B $2.846B $2.895B
YoY Change 2.74% -11.75% -7.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $861.0M $705.0M $795.0M
YoY Change 22.13% 34.29% 50.57%
Total Long-Term Assets $7.573B $8.011B $8.379B
YoY Change -5.47% -16.08% -11.58%
TOTAL ASSETS
Total Short-Term Assets $5.207B $6.362B $5.337B
Total Long-Term Assets $7.573B $8.011B $8.379B
Total Assets $12.78B $14.37B $13.72B
YoY Change -11.08% 1.81% -2.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.630B $2.284B $1.629B
YoY Change -28.63% 84.05% 30.74%
Accrued Expenses $1.414B $1.283B $1.124B
YoY Change 10.21% 31.72% 23.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.823B $4.431B $3.649B
YoY Change -13.72% 38.82% 16.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.484B $2.214B $2.212B
YoY Change -32.97% 77.26% 77.1%
Other Long-Term Liabilities $4.686B $5.357B $5.602B
YoY Change -12.53% -11.35% -7.17%
Total Long-Term Liabilities $6.170B $7.571B $7.814B
YoY Change -18.5% 3.83% 7.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.823B $4.431B $3.649B
Total Long-Term Liabilities $6.170B $7.571B $7.814B
Total Liabilities $9.993B $12.00B $11.46B
YoY Change -16.74% 14.48% 10.03%
SHAREHOLDERS EQUITY
Retained Earnings $2.681B $2.268B $2.173B
YoY Change 18.21% -36.52% -38.81%
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 $2.787B $2.371B $2.253B
YoY Change
Total Liabilities & Shareholders Equity $12.78B $14.37B $13.72B
YoY Change -11.08% 1.81% -2.33%

Cashflow Statement

Concept 2021 Q4 2020 Q4 2020 Q3
OPERATING ACTIVITIES
Net Income -$152.0M $95.00M -$62.00M
YoY Change -260.0% -32.14% -136.9%
Depreciation, Depletion And Amortization $128.0M $125.0M $126.0M
YoY Change 2.4% -10.71% -9.35%
Cash From Operating Activities -$110.0M $486.0M $853.0M
YoY Change -122.63% -983.64% 53.97%
INVESTING ACTIVITIES
Capital Expenditures -$217.0M -$80.00M -$86.00M
YoY Change 171.25% -59.8% -45.91%
Acquisitions
YoY Change
Other Investing Activities -$74.00M -$155.0M $30.00M
YoY Change -52.26% -242.86%
Cash From Investing Activities -$291.0M -$235.0M -$56.00M
YoY Change 23.83% 18.09% -68.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.175B 4.000M 387.0M
YoY Change -29475.0% -102.92% -386.67%
NET CHANGE
Cash From Operating Activities -110.0M 486.0M 853.0M
Cash From Investing Activities -291.0M -235.0M -56.00M
Cash From Financing Activities -1.175B 4.000M 387.0M
Net Change In Cash -1.576B 255.0M 1.184B
YoY Change -718.04% -165.22% 395.4%
FREE CASH FLOW
Cash From Operating Activities -$110.0M $486.0M $853.0M
Capital Expenditures -$217.0M -$80.00M -$86.00M
Free Cash Flow $107.0M $566.0M $939.0M
YoY Change -81.1% 293.06% 31.7%

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CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
7000000 USD
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
275000000 USD
CY2021Q1 us-gaap Short Term Investments
ShortTermInvestments
410000000 USD
CY2020Q4 us-gaap Short Term Investments
ShortTermInvestments
178000000 USD
CY2021Q4 gps Cashand Equivalentsportionof Availablefor Sale Securities
CashandEquivalentsportionofAvailableforSaleSecurities
125000000 USD
CY2021Q1 gps Cashand Equivalentsportionof Availablefor Sale Securities
CashandEquivalentsportionofAvailableforSaleSecurities
90000000 USD
CY2020Q4 gps Cashand Equivalentsportionof Availablefor Sale Securities
CashandEquivalentsportionofAvailableforSaleSecurities
222000000 USD
CY2020Q4 gps Total Impairment Charges
TotalImpairmentCharges
0 USD
CY2021Q4 gps Total Impairment Charges
TotalImpairmentCharges
0 USD
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2020Q4 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2021Q4 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2020Q4 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
CY2021Q4 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.293
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.215
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.178
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.237
CY2021Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1249000000 USD
CY2021Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1319000000 USD
CY2020Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1013000000 USD
CY2021Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2282000000 USD
CY2021Q4 us-gaap Operating Expenses
OperatingExpenses
1508000000 USD
CY2020Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2374000000 USD
CY2020Q4 us-gaap Operating Expenses
OperatingExpenses
1445000000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
7031000000 USD
us-gaap Operating Expenses
OperatingExpenses
4312000000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
6339000000 USD
us-gaap Operating Expenses
OperatingExpenses
4033000000 USD
CY2021Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2900000 shares
CY2020Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4700000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2021Q4 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
73000000 USD
CY2020Q4 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
0 USD
us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
128000000 USD
us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
0 USD
CY2021Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.73
CY2020Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
27.28
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0
CY2019Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 USD
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
672000000 USD
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
376000000 shares
CY2020Q4 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
CY2021Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2020Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
6000000 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
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
376000000 shares
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
380000000 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
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8000000 shares
CY2020Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16000000 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-59000000 USD
CY2021Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
49000000 USD
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
147000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
108000000 USD
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
39000000 USD

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