2022 Q2 Form 10-Q Financial Statement

#000004288822000019 Filed on April 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q1
Revenue $494.3M $454.1M
YoY Change -2.54% 21.57%
Cost Of Revenue $239.8M $206.8M
YoY Change -1.45% 18.21%
Gross Profit $254.5M $247.3M
YoY Change -3.54% 24.52%
Gross Profit Margin 51.48% 54.46%
Selling, General & Admin $107.0M $99.48M
YoY Change -1.42% 8.44%
% of Gross Profit 42.06% 40.22%
Research & Development $19.08M $19.57M
YoY Change -10.88% 14.58%
% of Gross Profit 7.5% 7.91%
Depreciation & Amortization $15.57M $14.52M
YoY Change 1.68% 11.12%
% of Gross Profit 6.12% 5.87%
Operating Expenses $126.1M $119.0M
YoY Change -2.98% 9.4%
Operating Profit $128.4M $128.3M
YoY Change -4.09% 42.84%
Interest Expense $5.287M $2.428M
YoY Change 109.14% -2.33%
% of Operating Profit 4.12% 1.89%
Other Income/Expense, Net -$153.0K -$121.0K
YoY Change -135.25% -97.68%
Pretax Income $122.9M $125.7M
YoY Change -6.7% 53.15%
Income Tax $22.08M $20.05M
% Of Pretax Income 17.96% 15.95%
Net Earnings $100.8M $105.7M
YoY Change -8.42% 45.14%
Net Earnings / Revenue 20.4% 23.27%
Basic Earnings Per Share $0.59 $0.63
Diluted Earnings Per Share $0.58 $0.61
COMMON SHARES
Basic Shares Outstanding 169.2M shares 168.8M shares
Diluted Shares Outstanding 174.7M shares 173.8M shares

Balance Sheet

Concept 2022 Q2 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $380.5M $460.6M
YoY Change -21.19% 0.85%
Cash & Equivalents $380.5M $460.6M
Short-Term Investments
Other Short-Term Assets $40.59M $31.93M
YoY Change 37.96% 11.02%
Inventory $436.7M $311.6M
Prepaid Expenses
Receivables $339.4M $323.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.197B $1.127B
YoY Change -0.56% 7.5%
LONG-TERM ASSETS
Property, Plant & Equipment $487.8M $360.4M
YoY Change 25.75% 8.52%
Goodwill $371.4M $343.0M
YoY Change 3.61% 11.78%
Intangibles $154.0M $152.8M
YoY Change -3.66% -3.34%
Long-Term Investments
YoY Change
Other Assets $35.59M $44.10M
YoY Change -22.89% 33.58%
Total Long-Term Assets $1.122B $960.3M
YoY Change 9.46% 6.87%
TOTAL ASSETS
Total Short-Term Assets $1.197B $1.127B
Total Long-Term Assets $1.122B $960.3M
Total Assets $2.319B $2.088B
YoY Change 4.05% 7.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $88.11M $66.24M
YoY Change 15.82% 2.98%
Accrued Expenses $93.54M $86.90M
YoY Change -11.67% 29.12%
Deferred Revenue $66.67M $45.20M
YoY Change 15.18% 6.32%
Short-Term Debt $40.16M $31.70M
YoY Change 205.86% -30.63%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $402.3M $323.5M
YoY Change 12.15% 3.77%
LONG-TERM LIABILITIES
Long-Term Debt $75.00M $150.0M
YoY Change -50.0% -62.5%
Other Long-Term Liabilities $12.35M $8.600M
YoY Change 11.84% -95.84%
Total Long-Term Liabilities $87.35M $158.6M
YoY Change -45.76% -60.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $402.3M $323.5M
Total Long-Term Liabilities $87.35M $158.6M
Total Liabilities $489.7M $482.1M
YoY Change -5.79% -32.26%
SHAREHOLDERS EQUITY
Retained Earnings $841.5M $642.3M
YoY Change 16.81% 56.1%
Common Stock $931.2M $872.2M
YoY Change 5.18% 11.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.690B $1.383B
YoY Change
Total Liabilities & Shareholders Equity $2.319B $2.088B
YoY Change 4.05% 7.21%

Cashflow Statement

Concept 2022 Q2 2021 Q1
OPERATING ACTIVITIES
Net Income $100.8M $105.7M
YoY Change -8.42% 45.14%
Depreciation, Depletion And Amortization $15.57M $14.52M
YoY Change 1.68% 11.12%
Cash From Operating Activities $31.33M $101.7M
YoY Change -73.53% 87.47%
INVESTING ACTIVITIES
Capital Expenditures $47.09M $21.42M
YoY Change -241.17% 13.04%
Acquisitions $25.02M $0.00
YoY Change
Other Investing Activities $134.0K $34.00K
YoY Change -100.69% -86.72%
Cash From Investing Activities -$72.24M -$21.45M
YoY Change 36.84% 11.71%
FINANCING ACTIVITIES
Cash Dividend Paid $35.80M $31.64M
YoY Change 7.87%
Common Stock Issuance & Retirement, Net $87.41M -$26.46M
YoY Change -161.12%
Debt Paid & Issued, Net $75.00M $0.00
YoY Change
Cash From Financing Activities -$202.9M $3.081M
YoY Change 360.27% -98.46%
NET CHANGE
Cash From Operating Activities $31.33M $101.7M
Cash From Investing Activities -$72.24M -$21.45M
Cash From Financing Activities -$202.9M $3.081M
Net Change In Cash -$243.8M $81.71M
YoY Change -1234.97% -65.33%
FREE CASH FLOW
Cash From Operating Activities $31.33M $101.7M
Capital Expenditures $47.09M $21.42M
Free Cash Flow -$15.77M $80.25M
YoY Change -110.39% 127.42%

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2022-04-01
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2022-04-01
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2022-04-01
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CY2021Q4 us-gaap Inventory Raw Materials And Supplies
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185291000 USD
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526670000 USD
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4600000 USD
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4300000 USD
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CY2022Q2 us-gaap Inventory Lifo Reserve
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CY2021Q4 us-gaap Inventory Lifo Reserve
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CY2021Q4 us-gaap Inventory Net
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CY2022Q2 dei Document Period End Date
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2022-04-01
CY2022Q2 us-gaap Intangible Assets Gross Excluding Goodwill
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294210000 USD
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2022Q2 ggg Intangible Assets Translation Adjustments
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CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
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CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021 ggg Intangible Assets Translation Adjustments
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CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
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149740000 USD
CY2022Q2 us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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17776000 USD
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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16533000 USD
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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15967000 USD
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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9155000 USD
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
19016000 USD
CY2021Q4 us-gaap Goodwill
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CY2022Q2 us-gaap Goodwill Acquired During Period
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CY2022Q2 dei Document Period End Date
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2022-04-01
CY2022Q2 us-gaap Goodwill
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CY2022Q2 dei Document Period End Date
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2022-04-01
CY2022Q2 us-gaap Self Insurance Reserve Current
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CY2022Q2 us-gaap Product Warranty Accrual
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14560000 USD
CY2021Q4 us-gaap Product Warranty Accrual
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14463000 USD
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10141000 USD
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15872000 USD
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3921000 USD
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5200000 USD
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42311000 USD
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190558000 USD
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191159000 USD
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14463000 USD
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38000 USD
CY2022Q2 us-gaap Product Warranty Expense
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2043000 USD
CY2022Q2 ggg Product Warranty Margin Reversed
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791000 USD
CY2022Q2 us-gaap Product Warranty Accrual Payments
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2775000 USD
CY2022Q2 dei Document Period End Date
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2022-04-01
CY2022Q2 us-gaap Product Warranty Accrual
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14560000 USD
CY2022Q2 us-gaap Contract With Customer Liability
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CY2022Q2 dei Document Period End Date
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2022-04-01
CY2021Q4 us-gaap Contract With Customer Liability
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60600000 USD
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22500000 USD
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
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22500000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
40900000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
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40900000 USD
CY2022Q2 dei Document Period End Date
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2022-04-01
CY2022Q2 us-gaap Liabilities Fair Value Disclosure
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21892000 USD
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18347000 USD
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75000000 USD
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80000000 USD
CY2022Q2 dei Document Period End Date
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2022-04-01
CY2021Q4 us-gaap Debt Instrument Carrying Amount
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150000000 USD
CY2021Q4 us-gaap Long Term Debt Fair Value
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165000000 USD

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