2024 Q1 Form 10-K Financial Statement

#000112336024000004 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.420B $2.434B $9.654B
YoY Change 5.57% 8.03% 7.56%
Cost Of Revenue $922.4M $922.3M $3.728B
YoY Change -2.68% -0.61% -1.35%
Gross Profit $1.498B $1.512B $5.927B
YoY Change 11.39% 14.07% 14.05%
Gross Profit Margin 61.89% 62.11% 61.39%
Selling, General & Admin $1.046B $906.3M $4.074B
YoY Change 0.23% 6.91% 15.58%
% of Gross Profit 69.81% 59.96% 68.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $461.1M $448.7M $1.777B
YoY Change 13.21% 11.98% 6.87%
% of Gross Profit 30.79% 29.68% 29.98%
Operating Expenses $1.046B $906.3M $4.074B
YoY Change 0.23% 6.91% 15.58%
Operating Profit $452.3M $605.3M $1.716B
YoY Change 697.13% 26.79% 168.12%
Interest Expense -$124.9M -$130.8M -$546.4M
YoY Change 15.79% 19.29% 35.46%
% of Operating Profit -27.61% -21.61% -31.84%
Other Income/Expense, Net -$126.2M -$4.487M -$546.4M
YoY Change 12.91% 25.41% 31.41%
Pretax Income $326.0M $367.9M $598.0M
YoY Change -692.17% 24.97% -416.34%
Income Tax $19.38M $9.272M $209.0M
% Of Pretax Income 5.94% 2.52% 34.95%
Net Earnings $313.3M $361.3M $986.2M
YoY Change -2937.67% 44.92% 784.57%
Net Earnings / Revenue 12.95% 14.84% 10.22%
Basic Earnings Per Share $1.22 $3.78
Diluted Earnings Per Share $1.22 $1.38 $3.77
COMMON SHARES
Basic Shares Outstanding 258.0M shares 260.4M shares 261.1M shares
Diluted Shares Outstanding 257.6M shares 261.7M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.168B $2.089B $2.089B
YoY Change 8.29% 4.57% 4.57%
Cash & Equivalents $2.168B $2.089B $2.089B
Short-Term Investments
Other Short-Term Assets $467.7M $767.4M $767.4M
YoY Change -24.36% 63.5% 63.5%
Inventory
Prepaid Expenses
Receivables $1.054B $1.120B $1.120B
Other Receivables $5.618B $4.097B $4.097B
Total Short-Term Assets $9.670B $8.074B $8.074B
YoY Change 72.83% 27.87% 27.87%
LONG-TERM ASSETS
Property, Plant & Equipment $2.200B $2.190B $2.190B
YoY Change 8.74% 19.1% -0.42%
Goodwill $26.73B $26.74B
YoY Change -0.46% 14.68%
Intangibles $9.797B $10.17B
YoY Change -7.47% 5.28%
Long-Term Investments $989.6M
YoY Change 3.38%
Other Assets $2.568B $2.570B $2.682B
YoY Change 4.18% 9.66% -15.24%
Total Long-Term Assets $42.10B $42.50B $42.50B
YoY Change -2.18% 10.4% 10.4%
TOTAL ASSETS
Total Short-Term Assets $9.670B $8.074B $8.074B
Total Long-Term Assets $42.10B $42.50B $42.50B
Total Assets $51.77B $50.57B $50.57B
YoY Change 6.45% 12.86% 12.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.630B $6.523B $6.523B
YoY Change 86.51% 40.87% 72.96%
Accrued Expenses $929.5M
YoY Change 16.62%
Deferred Revenue $210.7M $229.7M
YoY Change -5.81% 1.52%
Short-Term Debt $1.096B $981.2M $981.2M
YoY Change 127.21% 31.34% 31.34%
Long-Term Debt Due $1.579B $620.6M $620.6M
YoY Change 33.24% -46.93% -46.93%
Total Short-Term Liabilities $10.52B $8.126B $8.126B
YoY Change 72.86% 17.79% 17.79%
LONG-TERM LIABILITIES
Long-Term Debt $15.57B $15.69B $15.69B
YoY Change -5.86% 27.69% 27.69%
Other Long-Term Liabilities $644.0M $722.5M $722.5M
YoY Change -7.92% 11.51% 10.74%
Total Long-Term Liabilities $644.0M $722.5M $16.41B
YoY Change -7.92% 11.51% 26.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.52B $8.126B $8.126B
Total Long-Term Liabilities $644.0M $722.5M $16.41B
Total Liabilities $28.79B $26.78B $27.57B
YoY Change 11.78% 20.27% 22.51%
SHAREHOLDERS EQUITY
Retained Earnings $3.707B $3.457B
YoY Change 39.64% 26.57%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.22B $23.00B $23.00B
YoY Change
Total Liabilities & Shareholders Equity $51.77B $50.57B $50.57B
YoY Change 6.45% 12.86% 12.86%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $313.3M $361.3M $986.2M
YoY Change -2937.67% 44.92% 784.57%
Depreciation, Depletion And Amortization $461.1M $448.7M $1.777B
YoY Change 13.21% 11.98% 6.87%
Cash From Operating Activities $416.3M $657.4M $2.249B
YoY Change -30.56% -7.34% 0.21%
INVESTING ACTIVITIES
Capital Expenditures $145.4M $157.3M $658.1M
YoY Change -10.33% 3.31% 6.9%
Acquisitions $2.557M $4.226B
YoY Change -99.94% 6334.42%
Other Investing Activities $0.00 -$84.07M -$1.438M
YoY Change -100.0% 131.55% -42.39%
Cash From Investing Activities -$148.0M -$241.4M -$4.361B
YoY Change -96.48% 28.0% 545.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $418.3M
YoY Change -85.68%
Debt Paid & Issued, Net $2.629B $9.100B
YoY Change 68.93% 15.26%
Cash From Financing Activities -$163.4M -317.3M $2.141B
YoY Change -104.53% -44.54% -255.53%
NET CHANGE
Cash From Operating Activities $416.3M 657.4M $2.249B
Cash From Investing Activities -$148.0M -241.4M -$4.361B
Cash From Financing Activities -$163.4M -317.3M $2.141B
Net Change In Cash $70.85M 98.75M $41.27M
YoY Change 219.91% -292.88% -55.42%
FREE CASH FLOW
Cash From Operating Activities $416.3M $657.4M $2.249B
Capital Expenditures $145.4M $157.3M $658.1M
Free Cash Flow $270.9M $500.1M $1.591B
YoY Change -38.06% -10.25% -2.32%

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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, 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 consolidated financial statements reflect the financial statement effects based upon management’s estimates and assumptions utilizing the most currently available information.
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CY2023Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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CY2022Q4 us-gaap Finance Lease Right Of Use Asset
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CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Capital Lease Obligation
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CY2023Q4 gpn Financing Lease Right Of Use Asset And Liability Termination
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CY2022Q4 gpn Operating Lease Right Of Use Asset And Liability Termination
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CY2022Q4 gpn Financing Lease Right Of Use Asset And Liability Termination
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CY2023Q4 us-gaap Finance Lease Liability
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2023 us-gaap Number Of Reportable Segments
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CY2022Q4 gpn Financing Lease Right Of Use Asset And Liability Termination
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CY2023 dei Auditor Firm
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