2023 Q4 Form 10-Q Financial Statement

#000112336023000039 Filed on October 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $2.434B $2.476B
YoY Change 8.03% 8.33%
Cost Of Revenue $922.3M $915.5M
YoY Change -0.61% -1.69%
Gross Profit $1.512B $1.560B
YoY Change 14.07% 15.22%
Gross Profit Margin 62.11% 63.02%
Selling, General & Admin $906.3M $1.002B
YoY Change 6.91% 9.06%
% of Gross Profit 59.96% 64.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $448.7M $458.6M
YoY Change 11.98% 13.1%
% of Gross Profit 29.68% 29.4%
Operating Expenses $906.3M $1.002B
YoY Change 6.91% 9.06%
Operating Profit $605.3M $558.2M
YoY Change 26.79% 44.45%
Interest Expense -$130.8M -$137.6M
YoY Change 19.29% 22.85%
% of Operating Profit -21.61% -24.65%
Other Income/Expense, Net -$4.487M -$140.4M
YoY Change 25.41% 22.28%
Pretax Income $367.9M $417.8M
YoY Change 24.97% 53.82%
Income Tax $9.272M $58.94M
% Of Pretax Income 2.52% 14.11%
Net Earnings $361.3M $361.8M
YoY Change 44.92% 24.57%
Net Earnings / Revenue 14.84% 14.62%
Basic Earnings Per Share $1.39
Diluted Earnings Per Share $1.38 $1.39
COMMON SHARES
Basic Shares Outstanding 260.4M shares 260.0M shares
Diluted Shares Outstanding 260.9M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.089B $1.942B
YoY Change 4.57% -2.6%
Cash & Equivalents $2.089B $1.942B
Short-Term Investments
Other Short-Term Assets $767.4M $449.0M
YoY Change 63.5% 12.24%
Inventory
Prepaid Expenses
Receivables $1.120B $1.078B
Other Receivables $4.097B $2.966B
Total Short-Term Assets $8.074B $6.780B
YoY Change 27.87% 24.33%
LONG-TERM ASSETS
Property, Plant & Equipment $2.190B $2.118B
YoY Change 19.1% 20.39%
Goodwill $26.74B $26.52B
YoY Change 14.68% 13.22%
Intangibles $10.17B $10.26B
YoY Change 5.28% 3.54%
Long-Term Investments $989.6M
YoY Change 3.38%
Other Assets $2.570B $2.481B
YoY Change 9.66% 6.35%
Total Long-Term Assets $42.50B $42.14B
YoY Change 10.4% 9.51%
TOTAL ASSETS
Total Short-Term Assets $8.074B $6.780B
Total Long-Term Assets $42.50B $42.14B
Total Assets $50.57B $48.92B
YoY Change 12.86% 11.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.523B $5.198B
YoY Change 40.87% 189.56%
Accrued Expenses
YoY Change
Deferred Revenue $229.7M $232.2M
YoY Change 1.52% 7.26%
Short-Term Debt $981.2M $710.0M
YoY Change 31.34% 61.02%
Long-Term Debt Due $620.6M $80.00M
YoY Change -46.93% -93.09%
Total Short-Term Liabilities $8.126B $6.223B
YoY Change 17.79% 9.62%
LONG-TERM LIABILITIES
Long-Term Debt $15.69B $16.57B
YoY Change 27.69% 34.84%
Other Long-Term Liabilities $722.5M $672.8M
YoY Change 11.51% 2.69%
Total Long-Term Liabilities $722.5M $672.8M
YoY Change 11.51% 2.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.126B $6.223B
Total Long-Term Liabilities $722.5M $672.8M
Total Liabilities $26.78B $25.77B
YoY Change 20.27% 22.32%
SHAREHOLDERS EQUITY
Retained Earnings $3.457B $3.161B
YoY Change 26.57% 24.05%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.00B $22.44B
YoY Change
Total Liabilities & Shareholders Equity $50.57B $48.92B
YoY Change 12.86% 11.35%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $361.3M $361.8M
YoY Change 44.92% 24.57%
Depreciation, Depletion And Amortization $448.7M $458.6M
YoY Change 11.98% 13.1%
Cash From Operating Activities $657.4M $426.8M
YoY Change -7.34% 26.88%
INVESTING ACTIVITIES
Capital Expenditures $157.3M $169.8M
YoY Change 3.31% -221.87%
Acquisitions
YoY Change
Other Investing Activities -$84.07M $51.60M
YoY Change 131.55% 220.64%
Cash From Investing Activities -$241.4M -$118.2M
YoY Change 28.0% -4.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -317.3M -242.9M
YoY Change -44.54% 292.25%
NET CHANGE
Cash From Operating Activities 657.4M 426.8M
Cash From Investing Activities -241.4M -118.2M
Cash From Financing Activities -317.3M -242.9M
Net Change In Cash 98.75M 65.70M
YoY Change -292.88% -56.55%
FREE CASH FLOW
Cash From Operating Activities $657.4M $426.8M
Capital Expenditures $157.3M $169.8M
Free Cash Flow $500.1M $257.0M
YoY Change -10.25% -45.97%

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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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gpn Debt Instrument Covenant Leverage Ratio Consecutive Quarters
DebtInstrumentCovenantLeverageRatioConsecutiveQuarters
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us-gaap Goodwill Impairment Loss
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CY2023Q3 us-gaap Gain Loss On Sale Of Business
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CY2022Q3 us-gaap Gain Loss On Sale Of Business
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us-gaap Gain Loss On Sale Of Business
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us-gaap Gain Loss On Sale Of Business
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us-gaap Stock Repurchased And Retired During Period Shares
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us-gaap Stock Repurchased And Retired During Period Value
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us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
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StockRepurchasedAndRetiredDuringPeriodShares
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StockRepurchasedAndRetiredDuringPeriodValue
889700000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
2139700000 usd
CY2022Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
128.82
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
134.18
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1090200000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
36624000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37052000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
173325000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
122465000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
7488000 usd
CY2022Q3 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
39378000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
26816000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
558196000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
386432000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
1217670000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
232521000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
458624000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
405502000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1328051000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1261761000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
297000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
155.49
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
280000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
89.98
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
467770 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1900000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
260232000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
275030000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
260890000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
278411000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
703000 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
405000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
520000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
260935000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
275435000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
261410000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
278411000 shares
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1941777000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1997566000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
166870000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
147422000 usd
CY2023Q3 gpn Assets Held For Sale Cash
AssetsHeldForSaleCash
1218000 usd
CY2022Q4 gpn Assets Held For Sale Cash
AssetsHeldForSaleCash
70618000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2109865000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2215606000 usd
CY2023Q3 gpn Vendor Financing Arrangement Amount Financed
VendorFinancingArrangementAmountFinanced
19600000 usd
gpn Vendor Financing Arrangement Amount Financed
VendorFinancingArrangementAmountFinanced
67600000 usd
CY2022Q3 gpn Vendor Financing Arrangement Amount Financed
VendorFinancingArrangementAmountFinanced
83500000 usd
CY2022Q3 gpn Term Of Vendor Financing Arrangement
TermOfVendorFinancingArrangement
P2Y
CY2022Q3 gpn Operating Lease Right Of Use Asset And Liability Termination
OperatingLeaseRightOfUseAssetAndLiabilityTermination
44200000 usd
CY2022Q3 gpn Financing Lease Right Of Use Asset And Liability Termination
FinancingLeaseRightOfUseAssetAndLiabilityTermination
9700000 usd
CY2022Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
27700000 usd
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
-16200000 usd
CY2022Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
-14800000 usd
us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
-8000000 usd
us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
-33700000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2475691000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2285371000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7220607000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6722531000 usd
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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gpn-20230930_lab.xml Edgar Link unprocessable