2022 Q3 Form 10-Q Financial Statement

#000112336022000021 Filed on August 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $2.285B $2.281B $2.194B
YoY Change 3.77% 6.71% 13.67%
Cost Of Revenue $931.2M $962.3M $968.0M
YoY Change -1.37% 2.78% 4.97%
Gross Profit $1.354B $1.319B $1.226B
YoY Change 7.63% 9.78% 21.63%
Gross Profit Margin 59.25% 57.81% 55.88%
Selling, General & Admin $918.8M $863.2M $806.4M
YoY Change 7.07% 2.93% 24.04%
% of Gross Profit 67.85% 65.46% 65.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $405.5M $427.6M $425.2M
YoY Change -3.12% 1.31% 4.47%
% of Gross Profit 29.95% 32.43% 34.68%
Operating Expenses $918.8M $863.2M $806.4M
YoY Change 7.07% 2.93% 24.04%
Operating Profit $386.4M -$529.9M $419.6M
YoY Change -3.41% -246.14% 66.51%
Interest Expense -$112.0M -$94.14M -$81.79M
YoY Change 47.42% 28.01% 10.23%
% of Operating Profit -28.98% -19.49%
Other Income/Expense, Net -$114.8M -$96.23M -$2.667M
YoY Change 51.31% 28.14% 2.58%
Pretax Income $271.6M -$626.1M $236.5M
YoY Change -16.22% -317.8% 35.0%
Income Tax $14.26M $52.78M $37.43M
% Of Pretax Income 5.25% 15.83%
Net Earnings $290.5M -$673.0M $208.5M
YoY Change -2.12% -355.32% 14.13%
Net Earnings / Revenue 12.71% -29.51% 9.5%
Basic Earnings Per Share $1.06 -$2.42
Diluted Earnings Per Share $1.05 -$2.42 $722.8K
COMMON SHARES
Basic Shares Outstanding 277.2M shares 278.2M shares 290.2M shares
Diluted Shares Outstanding 275.4M shares 278.2M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.994B $1.933B $1.979B
YoY Change -15.07% 7.43% 1.71%
Cash & Equivalents $1.994B $1.933B $1.979B
Short-Term Investments
Other Short-Term Assets $400.0M $437.7M $350.0M
YoY Change 14.47% 8.6% -4.9%
Inventory
Prepaid Expenses
Receivables $998.2M $989.2M $946.2M
Other Receivables $1.741B $1.544B $1.144B
Total Short-Term Assets $5.453B $5.217B $4.711B
YoY Change -5.85% 6.47% 2.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.759B $1.689B $1.688B
YoY Change 5.51% 2.86% 6.91%
Goodwill $23.42B $23.50B $24.81B
YoY Change -3.79% -3.79% 3.95%
Intangibles $9.908B $10.27B $11.63B
YoY Change -14.07% -13.05% -3.18%
Long-Term Investments $976.4M
YoY Change
Other Assets $2.333B $2.382B $2.422B
YoY Change -3.3% 0.85% 13.41%
Total Long-Term Assets $38.49B $38.96B $40.57B
YoY Change -3.7% -3.21% 2.42%
TOTAL ASSETS
Total Short-Term Assets $5.453B $5.217B $4.711B
Total Long-Term Assets $38.49B $38.96B $40.57B
Total Assets $43.94B $44.18B $45.28B
YoY Change -3.97% -2.16% 2.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.795B $1.800B $1.358B
YoY Change -11.08% 8.72% 4.3%
Accrued Expenses
YoY Change
Deferred Revenue $216.4M $211.8M $227.8M
YoY Change -0.98% -2.09% 4.52%
Short-Term Debt $441.0M $469.5M $484.2M
YoY Change -25.05% -3.69% 34.88%
Long-Term Debt Due $1.158B $1.280B $78.51M
YoY Change 2857.52% 2332.46% -90.51%
Total Short-Term Liabilities $5.677B $5.982B $4.463B
YoY Change 12.76% 36.58% -1.89%
LONG-TERM LIABILITIES
Long-Term Debt $12.29B $10.88B $11.41B
YoY Change 14.75% 6.53% 34.83%
Other Long-Term Liabilities $655.1M $703.0M $739.0M
YoY Change -20.56% -15.22% -1.54%
Total Long-Term Liabilities $655.1M $703.0M $739.0M
YoY Change -20.56% -15.22% -1.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.677B $5.982B $4.463B
Total Long-Term Liabilities $655.1M $703.0M $739.0M
Total Liabilities $21.07B $20.20B $19.41B
YoY Change 8.59% 10.38% 16.13%
SHAREHOLDERS EQUITY
Retained Earnings $2.548B $2.326B $2.982B
YoY Change -10.45% -12.7% 16.0%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.66B $23.76B $25.63B
YoY Change
Total Liabilities & Shareholders Equity $43.94B $44.18B $45.28B
YoY Change -3.97% -2.16% 2.44%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $290.5M -$673.0M $208.5M
YoY Change -2.12% -355.32% 14.13%
Depreciation, Depletion And Amortization $405.5M $427.6M $425.2M
YoY Change -3.12% 1.31% 4.47%
Cash From Operating Activities $336.4M $568.1M $753.2M
YoY Change -63.36% 11.35% -2.1%
INVESTING ACTIVITIES
Capital Expenditures -$139.3M -$167.9M -$142.5M
YoY Change 6.22% 25.9% 33.4%
Acquisitions
YoY Change
Other Investing Activities $16.09M -$34.95M -$855.5M
YoY Change -682.45% -96.25% -1447.21%
Cash From Investing Activities -$123.2M -$202.9M -$998.0M
YoY Change -7.98% -80.95% 2204.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -61.93M -366.3M -95.18M
YoY Change -71.65% -232.13% -90.0%
NET CHANGE
Cash From Operating Activities 336.4M 568.1M 753.2M
Cash From Investing Activities -123.2M -202.9M -998.0M
Cash From Financing Activities -61.93M -366.3M -95.18M
Net Change In Cash 151.2M -1.057M -339.9M
YoY Change -73.27% -99.62% 50.8%
FREE CASH FLOW
Cash From Operating Activities $336.4M $568.1M $753.2M
Capital Expenditures -$139.3M -$167.9M -$142.5M
Free Cash Flow $475.7M $736.1M $895.7M
YoY Change -54.66% 14.36% 2.22%

Facts In Submission

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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Use of estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> - </span>The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reported period. Actual results could differ materially from those estimates. In particular, the future magnitude, duration and effects of the COVID-19 pandemic and the ongoing invasion of Ukraine by Russia are difficult to predict at this time, and the ultimate effect could result in additional charges related to the recoverability of assets, including financial assets, long-lived assets and goodwill and other losses.
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