2024 Q4 Form 10-Q Financial Statement

#000112336024000036 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $2.602B $2.476B
YoY Change 5.08% 8.33%
Cost Of Revenue $946.9M $915.5M
YoY Change 3.43% -1.69%
Gross Profit $1.655B $1.560B
YoY Change 6.05% 15.22%
Gross Profit Margin 63.6% 63.02%
Selling, General & Admin $1.179B $1.002B
YoY Change 17.67% 9.06%
% of Gross Profit 71.26% 64.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $474.6M $458.6M
YoY Change 3.48% 13.1%
% of Gross Profit 28.68% 29.4%
Operating Expenses $1.179B $1.002B
YoY Change 17.67% 9.06%
Operating Profit $475.6M $558.2M
YoY Change -14.8% 44.45%
Interest Expense -$94.66M -$137.6M
YoY Change -31.2% 22.85%
% of Operating Profit -19.9% -24.65%
Other Income/Expense, Net -$100.6M -$140.4M
YoY Change -28.35% 22.28%
Pretax Income $375.0M $417.8M
YoY Change -10.25% 53.82%
Income Tax $57.38M $58.94M
% Of Pretax Income 15.3% 14.11%
Net Earnings $315.1M $361.8M
YoY Change -12.91% 24.57%
Net Earnings / Revenue 12.11% 14.62%
Basic Earnings Per Share $1.24 $1.39
Diluted Earnings Per Share $1.24 $1.39
COMMON SHARES
Basic Shares Outstanding 254.5M shares 254.4M shares 260.0M shares
Diluted Shares Outstanding 254.9M shares 260.9M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.942B $1.942B
YoY Change 51.49% -2.6%
Cash & Equivalents $2.942B $1.942B
Short-Term Investments
Other Short-Term Assets $411.1M $449.0M
YoY Change -8.44% 12.24%
Inventory
Prepaid Expenses
Receivables $1.151B $1.078B
Other Receivables $3.021B $2.966B
Total Short-Term Assets $7.901B $6.780B
YoY Change 16.53% 24.33%
LONG-TERM ASSETS
Property, Plant & Equipment $2.335B $2.118B
YoY Change 10.23% 20.39%
Goodwill $26.96B $26.52B
YoY Change 1.67% 13.22%
Intangibles $9.319B $10.26B
YoY Change -9.17% 3.54%
Long-Term Investments
YoY Change
Other Assets $2.635B $2.481B
YoY Change 6.21% 6.35%
Total Long-Term Assets $42.08B $42.14B
YoY Change -0.14% 9.51%
TOTAL ASSETS
Total Short-Term Assets $7.901B $6.780B
Total Long-Term Assets $42.08B $42.14B
Total Assets $49.99B $48.92B
YoY Change 2.17% 11.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.947B $5.198B
YoY Change 14.41% 189.56%
Accrued Expenses
YoY Change
Deferred Revenue $240.9M $232.2M
YoY Change 3.77% 7.26%
Short-Term Debt $788.1M $710.0M
YoY Change 10.99% 61.02%
Long-Term Debt Due $1.553B $80.00M
YoY Change 1841.08% -93.09%
Total Short-Term Liabilities $8.529B $6.223B
YoY Change 37.06% 9.62%
LONG-TERM LIABILITIES
Long-Term Debt $15.22B $16.57B
YoY Change -8.18% 34.84%
Other Long-Term Liabilities $672.9M $672.8M
YoY Change 0.02% 2.69%
Total Long-Term Liabilities $672.9M $672.8M
YoY Change 0.02% 2.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.529B $6.223B
Total Long-Term Liabilities $672.9M $672.8M
Total Liabilities $26.37B $25.77B
YoY Change 2.33% 22.32%
SHAREHOLDERS EQUITY
Retained Earnings $4.270B $3.161B
YoY Change 35.09% 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 $22.81B $22.44B
YoY Change
Total Liabilities & Shareholders Equity $49.99B $48.92B
YoY Change 2.17% 11.35%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $315.1M $361.8M
YoY Change -12.91% 24.57%
Depreciation, Depletion And Amortization $474.6M $458.6M
YoY Change 3.48% 13.1%
Cash From Operating Activities $1.726B $426.8M
YoY Change 304.42% 26.88%
INVESTING ACTIVITIES
Capital Expenditures $166.3M $169.8M
YoY Change -2.09% -221.87%
Acquisitions
YoY Change
Other Investing Activities $16.95M $51.60M
YoY Change -67.16% 220.64%
Cash From Investing Activities -$149.3M -$118.2M
YoY Change 26.32% -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 -779.1M -242.9M
YoY Change 220.75% 292.25%
NET CHANGE
Cash From Operating Activities 1.726B 426.8M
Cash From Investing Activities -149.3M -118.2M
Cash From Financing Activities -779.1M -242.9M
Net Change In Cash 797.6M 65.70M
YoY Change 1114.06% -56.55%
FREE CASH FLOW
Cash From Operating Activities $1.726B $426.8M
Capital Expenditures $166.3M $169.8M
Free Cash Flow $1.560B $257.0M
YoY Change 506.93% -45.97%

Facts In Submission

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<div style="text-align:justify;text-indent:22.5pt"><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></div>
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CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
24525000 usd
CY2024Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
16768710000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
16312882000 usd
CY2024Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1552863000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
620585000 usd
CY2024Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
15215847000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
15692297000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
526461000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1051733000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1887927000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2787642000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
464391000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
3250128000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
6891461000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
16859743000 usd
gpn Debt Instrument Covenant Leverage Ratio Consecutive Quarters
DebtInstrumentCovenantLeverageRatioConsecutiveQuarters
8 consecutivequarter
CY2024Q3 gpn Debt Instrument Covenant Leverage Ratio Minimum
DebtInstrumentCovenantLeverageRatioMinimum
3.75
CY2024Q3 gpn Debt Instrument Covenant Leverage Ratio Current Minimum
DebtInstrumentCovenantLeverageRatioCurrentMinimum
4.25
CY2024Q3 gpn Debt Instrument Covenant Interest Coverage Ratio Minimum
DebtInstrumentCovenantInterestCoverageRatioMinimum
3.00
CY2024Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
150000000.0 usd
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
173300000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
465200000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
464600000 usd
CY2024Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-31811000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
22993000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
6234000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
15020000 usd
CY2024Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
2786000 usd
CY2023Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
2375000 usd
us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
8067000 usd
us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
1890000 usd
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.153
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.134
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.141
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.249
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
6972979 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
4064918 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
909300000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
413700000 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
130.40
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
101.79
us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
130.80
CY2024Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1371900000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
50999000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
36624000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
134361000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
173325000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
12105000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
7488000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
28439000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
39378000 usd
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
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
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
254402000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
260232000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
255355000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
260890000 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
495000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
703000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
525000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
520000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
254897000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
260935000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
255880000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
261410000 shares
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2941940000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2088887000 usd
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
197575000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
167190000 usd
CY2024Q3 gpn Assets Held For Sale Cash
AssetsHeldForSaleCash
0 usd
CY2023Q4 gpn Assets Held For Sale Cash
AssetsHeldForSaleCash
798000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3139515000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2256875000 usd
gpn Vendor Financing Arrangement Amount Financed
VendorFinancingArrangementAmountFinanced
10100000 usd
CY2024Q3 gpn Vendor Financing Arrangement Amount Financed
VendorFinancingArrangementAmountFinanced
10100000 usd
gpn Vendor Financing Arrangement Term
VendorFinancingArrangementTerm
P4Y
CY2024Q3 gpn Vendor Financing Arrangement Term
VendorFinancingArrangementTerm
P4Y
CY2023Q3 gpn Vendor Financing Arrangement Amount Financed
VendorFinancingArrangementAmountFinanced
19600000 usd
gpn Vendor Financing Arrangement Amount Financed
VendorFinancingArrangementAmountFinanced
67600000 usd
CY2024Q3 us-gaap Restructuring Charges
RestructuringCharges
56400000 usd
us-gaap Restructuring Charges
RestructuringCharges
94100000 usd
CY2024Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
34100000 usd
CY2024Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
34600000 usd
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest
-16200000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2475691000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7590508000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7220607000 usd
CY2023Q3 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-139095000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
558196000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
1500457000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
1217670000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
458624000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1405673000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1328051000 usd
CY2023Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
75100000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
180400000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
244400000 usd
CY2024Q3 us-gaap Restructuring Charges
RestructuringCharges
56400000 usd
us-gaap Restructuring Charges
RestructuringCharges
94100000 usd
us-gaap Business Exit Costs1
BusinessExitCosts1
59200000 usd
CY2024Q3 us-gaap Business Exit Costs1
BusinessExitCosts1
59200000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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