2022 Q4 Form 10-K Financial Statement

#000102232123000018 Filed on February 24, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $714.0M $2.789B
YoY Change 22.78% 31.22%
Cost Of Revenue $529.5M $2.151B
YoY Change 14.39% 28.13%
Gross Profit $184.5M $637.8M
YoY Change 55.5% 42.81%
Gross Profit Margin 25.84% 22.87%
Selling, General & Admin $13.32M $59.26M
YoY Change -10.84% 13.44%
% of Gross Profit 7.22% 9.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $79.08M $296.2M
YoY Change -27.3% -4.37%
% of Gross Profit 42.86% 46.44%
Operating Expenses $92.39M $355.5M
YoY Change -25.34% -1.81%
Operating Profit $92.12M $315.0M
YoY Change -1908.03% 316.15%
Interest Expense -$43.43M -$172.0M
YoY Change -1.46% -2.2%
% of Operating Profit -47.14% -54.59%
Other Income/Expense, Net $794.0K -$10.76M
YoY Change -304.11% -70.31%
Pretax Income $48.23M $132.3M
YoY Change -182.46% -197.02%
Income Tax $1.634M $3.169M
% Of Pretax Income 3.39% 2.4%
Net Earnings $17.98M $75.46M
YoY Change -126.33% -145.71%
Net Earnings / Revenue 2.52% 2.71%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share $0.15 -$0.04
COMMON SHARES
Basic Shares Outstanding 122.6M shares
Diluted Shares Outstanding 122.6M shares

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.930M $7.930M
YoY Change -60.32% -60.32%
Cash & Equivalents $7.930M $7.930M
Short-Term Investments
Other Short-Term Assets $26.77M $45.41M
YoY Change -31.71% 2.72%
Inventory $78.14M $78.14M
Prepaid Expenses
Receivables $721.6M $721.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $853.0M $853.0M
YoY Change 57.25% 57.25%
LONG-TERM ASSETS
Property, Plant & Equipment $4.097B $4.767B
YoY Change 4.71% 3.59%
Goodwill $302.0M
YoY Change 0.0%
Intangibles $127.3M
YoY Change 0.2%
Long-Term Investments $284.5M $284.5M
YoY Change -3.25% -3.25%
Other Assets $32.21M $29.62M
YoY Change -15.82% -11.65%
Total Long-Term Assets $5.513B $5.513B
YoY Change 2.79% 2.79%
TOTAL ASSETS
Total Short-Term Assets $853.0M $853.0M
Total Long-Term Assets $5.513B $5.513B
Total Assets $6.366B $6.366B
YoY Change 7.79% 7.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $428.0M $428.0M
YoY Change 61.91% 61.91%
Accrued Expenses $281.1M $281.1M
YoY Change 20.86% 20.86%
Deferred Revenue $2.087M
YoY Change -20.31%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $709.1M $709.1M
YoY Change 42.69% 42.69%
LONG-TERM LIABILITIES
Long-Term Debt $4.356B $4.356B
YoY Change 15.56% 15.56%
Other Long-Term Liabilities $400.6M $400.6M
YoY Change -7.89% -7.89%
Total Long-Term Liabilities $400.6M $4.757B
YoY Change -7.89% 13.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $709.1M $709.1M
Total Long-Term Liabilities $400.6M $4.757B
Total Liabilities $4.591B $5.793B
YoY Change 16.94% 9.91%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $573.4M $573.4M
YoY Change
Total Liabilities & Shareholders Equity $6.366B $6.366B
YoY Change 7.79% 7.79%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $17.98M $75.46M
YoY Change -126.33% -145.71%
Depreciation, Depletion And Amortization $79.08M $296.2M
YoY Change -27.3% -4.37%
Cash From Operating Activities $81.80M $334.4M
YoY Change -14.43% -1.05%
INVESTING ACTIVITIES
Capital Expenditures $120.4M $424.2M
YoY Change -244.33% -240.74%
Acquisitions
YoY Change
Other Investing Activities $99.00K $49.68M
YoY Change -96.76% 82.11%
Cash From Investing Activities -$120.3M -$374.5M
YoY Change 49.7% 36.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.59M $41.70M
YoY Change -807.99% -163.31%
NET CHANGE
Cash From Operating Activities 81.80M $334.4M
Cash From Investing Activities -120.3M -$374.5M
Cash From Financing Activities 40.59M $41.70M
Net Change In Cash 2.082M $1.575M
YoY Change -78.07% -177.74%
FREE CASH FLOW
Cash From Operating Activities $81.80M $334.4M
Capital Expenditures $120.4M $424.2M
Free Cash Flow -$38.61M -$89.80M
YoY Change -121.57% -114.05%

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<div style="margin-top:9pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of our Consolidated Financial Statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. We based these estimates and assumptions on historical experience and other information that we believed to be reasonable under the circumstances. Significant estimates that we make include: (1) liability and contingency accruals, including the estimates of future asset retirement obligations, (2) estimated fair value of assets and liabilities acquired and identification of associated goodwill and intangible assets, (3) estimates of future net cash flows from assets for purposes of determining whether impairment of those assets has occurred, (4) estimates of variable consideration for revenue recognition, (5) estimated fair value of derivative instruments, and (6) estimated useful lives of our fixed and intangible assets (including the reserve life of our mineral leaseholds) for the use in calculating depreciation, depletion, and amortization of long-lived assets and intangible assets. While we believe these estimates are reasonable, actual results could differ from these estimates. Changes in facts and circumstances may result in revised estimates.</span></div>
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CY2021Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 us-gaap Deferred Income Tax Liabilities Net
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CY2022 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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Files In Submission

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