2023 Q3 Form 10-Q Financial Statement

#000112336023000028 Filed on August 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.476B $2.452B
YoY Change 8.33% 7.52%
Cost Of Revenue $915.5M $942.0M
YoY Change -1.69% -2.11%
Gross Profit $1.560B $1.511B
YoY Change 15.22% 14.55%
Gross Profit Margin 63.02% 61.59%
Selling, General & Admin $1.002B $946.0M
YoY Change 9.06% 9.6%
% of Gross Profit 64.22% 62.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $458.6M $462.2M
YoY Change 13.1% 8.09%
% of Gross Profit 29.4% 30.6%
Operating Expenses $1.002B $946.0M
YoY Change 9.06% 9.6%
Operating Profit $558.2M $564.5M
YoY Change 44.45% -206.54%
Interest Expense -$137.6M -$144.4M
YoY Change 22.85% 53.34%
% of Operating Profit -24.65% -25.57%
Other Income/Expense, Net -$140.4M -$19.12M
YoY Change 22.28% -80.13%
Pretax Income $417.8M $439.3M
YoY Change 53.82% -170.16%
Income Tax $58.94M $172.2M
% Of Pretax Income 14.11% 39.2%
Net Earnings $361.8M $274.1M
YoY Change 24.57% -140.74%
Net Earnings / Revenue 14.62% 11.18%
Basic Earnings Per Share $1.39 $1.05
Diluted Earnings Per Share $1.39 $1.05
COMMON SHARES
Basic Shares Outstanding 260.0M shares 262.0M shares
Diluted Shares Outstanding 260.9M shares 261.3M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.942B $1.920B
YoY Change -2.6% -0.71%
Cash & Equivalents $1.942B $1.920B
Short-Term Investments
Other Short-Term Assets $449.0M $501.9M
YoY Change 12.24% 14.69%
Inventory
Prepaid Expenses
Receivables $1.078B $1.497B
Other Receivables $2.966B $1.601B
Total Short-Term Assets $6.780B $5.519B
YoY Change 24.33% 5.79%
LONG-TERM ASSETS
Property, Plant & Equipment $2.118B $2.084B
YoY Change 20.39% 23.38%
Goodwill $26.52B $26.49B
YoY Change 13.22% 12.75%
Intangibles $10.26B $10.74B
YoY Change 3.54% 4.57%
Long-Term Investments
YoY Change
Other Assets $2.481B $2.411B
YoY Change 6.35% 1.22%
Total Long-Term Assets $42.14B $42.63B
YoY Change 9.51% 9.43%
TOTAL ASSETS
Total Short-Term Assets $6.780B $5.519B
Total Long-Term Assets $42.14B $42.63B
Total Assets $48.92B $48.15B
YoY Change 11.35% 9.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.198B $4.283B
YoY Change 189.56% 138.01%
Accrued Expenses
YoY Change
Deferred Revenue $232.2M $229.4M
YoY Change 7.26% 8.31%
Short-Term Debt $710.0M $529.0M
YoY Change 61.02% 12.66%
Long-Term Debt Due $80.00M $75.68M
YoY Change -93.09% -94.09%
Total Short-Term Liabilities $6.223B $5.118B
YoY Change 9.62% -14.43%
LONG-TERM LIABILITIES
Long-Term Debt $16.57B $16.98B
YoY Change 34.84% 55.97%
Other Long-Term Liabilities $672.8M $693.7M
YoY Change 2.69% -1.33%
Total Long-Term Liabilities $672.8M $17.67B
YoY Change 2.69% 2413.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.223B $5.118B
Total Long-Term Liabilities $672.8M $17.67B
Total Liabilities $25.77B $25.98B
YoY Change 22.32% 28.62%
SHAREHOLDERS EQUITY
Retained Earnings $3.161B $2.864B
YoY Change 24.05% 23.11%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.44B $22.17B
YoY Change
Total Liabilities & Shareholders Equity $48.92B $48.15B
YoY Change 11.35% 9.0%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $361.8M $274.1M
YoY Change 24.57% -140.74%
Depreciation, Depletion And Amortization $458.6M $462.2M
YoY Change 13.1% 8.09%
Cash From Operating Activities $426.8M $565.0M
YoY Change 26.88% -0.56%
INVESTING ACTIVITIES
Capital Expenditures $169.8M $168.8M
YoY Change -221.87% -200.53%
Acquisitions
YoY Change
Other Investing Activities $51.60M $374.1M
YoY Change 220.64% -1170.31%
Cash From Investing Activities -$118.2M $205.3M
YoY Change -4.09% -201.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -242.9M -909.6M
YoY Change 292.25% 148.3%
NET CHANGE
Cash From Operating Activities 426.8M 565.0M
Cash From Investing Activities -118.2M 205.3M
Cash From Financing Activities -242.9M -909.6M
Net Change In Cash 65.70M -139.4M
YoY Change -56.55% 13084.48%
FREE CASH FLOW
Cash From Operating Activities $426.8M $565.0M
Capital Expenditures $169.8M $168.8M
Free Cash Flow $257.0M $396.2M
YoY Change -45.97% -46.18%

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><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, uncertainty resulting from global events and other macroeconomic conditions 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. These unaudited consolidated financial statements reflect the financial statement effects based upon management’s estimates and assumptions utilizing the most currently available information.</span>
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InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
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us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
16979000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
47135000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
22474000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10318000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
31890000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
19997000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.392
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2023Q2 gpn Effective Income Tax Rate Inflation Reduction Act Share Repurchase Excise Tax
EffectiveIncomeTaxRateInflationReductionActShareRepurchaseExciseTax
2000000 usd
gpn Effective Income Tax Rate Inflation Reduction Act Share Repurchase Excise Tax
EffectiveIncomeTaxRateInflationReductionActShareRepurchaseExciseTax
4300000 usd
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
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CY2022Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
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CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
207500000 usd
CY2022Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
600300000 usd
CY2023Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
103.44
CY2022Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
132.64
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
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us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
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us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
414000000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1250000000 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
101.86
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
138.29
CY2023Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1090200000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
36000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
109.92
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
17000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
52.80
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
900000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
260827000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
278181000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
261965000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
280130000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
501000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
429000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
261328000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
278181000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
262394000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
280130000 shares
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1919591000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1997566000 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
193318000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
147422000 usd
CY2023Q2 gpn Assets Held For Sale Cash
AssetsHeldForSaleCash
1442000 usd
CY2022Q4 gpn Assets Held For Sale Cash
AssetsHeldForSaleCash
70618000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2114351000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2215606000 usd
us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2452469000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4744916000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4437160000 usd
CY2023Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
833075000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
833075000 usd
CY2023Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
105738000 usd
CY2022Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-152211000 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-139095000 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-152211000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
602741000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-529858000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
659475000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-153911000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
462090000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
427576000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
869428000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
856248000 usd
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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