2024 Q1 Form 10-K Financial Statement

#000003991124000066 Filed on March 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2024
Revenue $4.298B $14.89B
YoY Change 1.3% -4.66%
Cost Of Revenue $2.626B $9.114B
YoY Change -6.85% -11.14%
Gross Profit $1.672B $5.775B
YoY Change 17.42% 7.76%
Gross Profit Margin 38.9% 38.79%
Selling, General & Admin $1.202B $1.202B
YoY Change -15.65%
% of Gross Profit 71.89% 20.81%
Research & Development $37.00M $37.00M
YoY Change -19.57%
% of Gross Profit 2.21% 0.64%
Depreciation & Amortization $128.0M $522.0M
YoY Change -7.25% -1.69%
% of Gross Profit 7.66% 9.04%
Operating Expenses $1.458B $5.215B
YoY Change 0.28% -3.92%
Operating Profit $214.0M $560.0M
YoY Change -813.33% -911.59%
Interest Expense $4.000M -$4.000M
YoY Change -130.77% -104.55%
% of Operating Profit 1.87% -0.71%
Other Income/Expense, Net
YoY Change
Pretax Income $218.0M $556.0M
YoY Change -606.98% -298.57%
Income Tax $33.00M $54.00M
% Of Pretax Income 15.14% 9.71%
Net Earnings $185.0M $502.0M
YoY Change -167.77% -348.51%
Net Earnings / Revenue 4.3% 3.37%
Basic Earnings Per Share $1.36
Diluted Earnings Per Share $0.49 $1.34
COMMON SHARES
Basic Shares Outstanding 373.5M shares 370.0M shares
Diluted Shares Outstanding 376.0M shares

Balance Sheet

Concept 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.873B $1.873B
YoY Change 54.16% 54.16%
Cash & Equivalents $1.873B $1.873B
Short-Term Investments
Other Short-Term Assets $527.0M $527.0M
YoY Change -47.98% -47.98%
Inventory $1.995B $1.995B
Prepaid Expenses
Receivables $289.0M $289.0M
Other Receivables $0.00
Total Short-Term Assets $4.395B $4.395B
YoY Change -4.81% -4.81%
LONG-TERM ASSETS
Property, Plant & Equipment $5.681B $5.681B
YoY Change 111.35% -3.07%
Goodwill $207.0M
YoY Change 0.0%
Intangibles $18.00M
YoY Change -33.33%
Long-Term Investments
YoY Change
Other Assets $968.0M $968.0M
YoY Change 6.61% 6.61%
Total Long-Term Assets $6.649B $6.649B
YoY Change -1.77% -1.77%
TOTAL ASSETS
Total Short-Term Assets $4.395B $4.395B
Total Long-Term Assets $6.649B $6.649B
Total Assets $11.04B $11.04B
YoY Change -3.0% -3.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.349B $1.349B
YoY Change 2.2% 2.2%
Accrued Expenses $1.708B $1.708B
YoY Change 40.11% -9.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.096B $3.096B
YoY Change -4.91% -4.91%
LONG-TERM LIABILITIES
Long-Term Debt $1.488B $1.488B
YoY Change 0.13% -18.95%
Other Long-Term Liabilities $3.865B $3.865B
YoY Change 2442.76% -4.83%
Total Long-Term Liabilities $5.353B $5.353B
YoY Change -9.23% -9.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.096B $3.096B
Total Long-Term Liabilities $5.353B $5.353B
Total Liabilities $8.449B $8.449B
YoY Change -7.69% -7.69%
SHAREHOLDERS EQUITY
Retained Earnings $2.420B
YoY Change 13.08%
Common Stock $19.00M
YoY Change 5.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.595B $2.595B
YoY Change
Total Liabilities & Shareholders Equity $11.04B $11.04B
YoY Change -3.0% -3.0%

Cashflow Statement

Concept 2024 Q1 2024
OPERATING ACTIVITIES
Net Income $185.0M $502.0M
YoY Change -167.77% -348.51%
Depreciation, Depletion And Amortization $128.0M $522.0M
YoY Change -7.25% -1.69%
Cash From Operating Activities $700.0M $1.532B
YoY Change -2.64% 152.39%
INVESTING ACTIVITIES
Capital Expenditures $132.0M $420.0M
YoY Change 22.22% -38.69%
Acquisitions $0.00
YoY Change
Other Investing Activities $1.000M $86.00M
YoY Change
Cash From Investing Activities -$131.0M -$334.0M
YoY Change 21.3% 47.14%
FINANCING ACTIVITIES
Cash Dividend Paid $222.0M
YoY Change 0.91%
Common Stock Issuance & Retirement, Net $9.000M $27.00M
YoY Change -78.05%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -51.00M -567.0M
YoY Change -5.56% -9550.0%
NET CHANGE
Cash From Operating Activities 700.0M 1.532B
Cash From Investing Activities -131.0M -334.0M
Cash From Financing Activities -51.00M -567.0M
Net Change In Cash 518.0M 631.0M
YoY Change -7.0% 70.08%
FREE CASH FLOW
Cash From Operating Activities $700.0M $1.532B
Capital Expenditures $132.0M $420.0M
Free Cash Flow $568.0M $1.112B
YoY Change -7.04% -1525.64%

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<div style="margin-top:8pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fiscal Year and Presentation</span></div><div style="margin-top:4pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our fiscal year is a 52-week or 53-week period ending on the Saturday closest to January 31. The fiscal year ended February 3, 2024 (fiscal 2023) consisted of 53 weeks. The fiscal years ended January 28, 2023 (fiscal 2022) and January 29, 2022 (fiscal 2021) consisted of 52 weeks.</span></div>
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