$GXO
GXO Logistics, Inc.

2021 Q4 Form 10-Q Financial Statement

#000185224421000007 Filed on November 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $2.262B $1.974B $1.584B
YoY Change 28.09% 24.62%
Cost Of Revenue $1.912B $1.651B $1.297B
YoY Change 28.84% 27.29%
Gross Profit $350.0M $323.0M $287.0M
YoY Change 24.11% 12.54%
Gross Profit Margin 15.47% 16.36% 18.12%
Selling, General & Admin $212.0M $171.0M $157.0M
YoY Change 40.4% 8.92%
% of Gross Profit 60.57% 52.94% 54.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $76.00M $85.00M $83.00M
YoY Change -69.23% 2.41%
% of Gross Profit 21.71% 26.32% 28.92%
Operating Expenses $288.0M $171.0M $157.0M
YoY Change 26.32% 8.92%
Operating Profit $62.00M $36.00M $49.00M
YoY Change 14.81% -26.53%
Interest Expense -$5.000M $5.000M $6.000M
YoY Change -16.67% -16.67%
% of Operating Profit -8.06% 13.89% 12.24%
Other Income/Expense, Net $12.00M $11.00M $0.00
YoY Change
Pretax Income $70.00M $42.00M $43.00M
YoY Change 59.09% -2.33%
Income Tax $13.00M -$31.00M $20.00M
% Of Pretax Income 18.57% -73.81% 46.51%
Net Earnings $56.00M $72.00M $18.00M
YoY Change 100.0% 300.0%
Net Earnings / Revenue 2.48% 3.65% 1.14%
Basic Earnings Per Share $0.63 $0.16
Diluted Earnings Per Share $489.6K $0.62 $0.16
COMMON SHARES
Basic Shares Outstanding 114.6M shares 115.0M shares 115.0M shares
Diluted Shares Outstanding 116.0M shares 115.0M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $333.0M $275.0M
YoY Change
Cash & Equivalents $333.0M $275.0M $409.0M
Short-Term Investments
Other Short-Term Assets $259.0M $292.0M
YoY Change -8.8%
Inventory
Prepaid Expenses
Receivables $1.507B $1.391B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.099B $1.958B
YoY Change 14.32%
LONG-TERM ASSETS
Property, Plant & Equipment $2.635B $2.641B
YoY Change
Goodwill $2.017B $2.042B
YoY Change -2.23%
Intangibles $257.0M $274.0M
YoY Change -14.05%
Long-Term Investments
YoY Change
Other Assets $263.0M $218.0M
YoY Change 80.14%
Total Long-Term Assets $5.172B $5.175B
YoY Change 9.76%
TOTAL ASSETS
Total Short-Term Assets $2.099B $1.958B
Total Long-Term Assets $5.172B $5.175B
Total Assets $7.271B $7.133B
YoY Change 11.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $624.0M $496.0M
YoY Change 50.36%
Accrued Expenses $998.0M $1.008B
YoY Change 27.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $34.00M $40.00M
YoY Change
Total Short-Term Liabilities $2.329B $2.245B
YoY Change 34.0%
LONG-TERM LIABILITIES
Long-Term Debt $927.0M $934.0M
YoY Change
Other Long-Term Liabilities $234.0M $179.0M
YoY Change 58.11%
Total Long-Term Liabilities $2.552B $2.551B
YoY Change 37.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.329B $2.245B
Total Long-Term Liabilities $2.552B $2.551B
Total Liabilities $4.881B $4.796B
YoY Change 35.58%
SHAREHOLDERS EQUITY
Retained Earnings $126.0M $70.00M
YoY Change
Common Stock $1.000M $1.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.351B $2.296B
YoY Change
Total Liabilities & Shareholders Equity $7.271B $7.133B
YoY Change 11.04%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $56.00M $72.00M $18.00M
YoY Change 100.0% 300.0%
Depreciation, Depletion And Amortization $76.00M $85.00M $83.00M
YoY Change -69.23% 2.41%
Cash From Operating Activities $204.0M $105.0M $154.0M
YoY Change -30.14% -31.82%
INVESTING ACTIVITIES
Capital Expenditures -$70.00M -$61.00M $57.00M
YoY Change -59.77% -207.02%
Acquisitions
YoY Change
Other Investing Activities $3.000M -$8.000M -$12.00M
YoY Change -104.35% -33.33%
Cash From Investing Activities -$67.00M -$69.00M -$69.00M
YoY Change -72.43% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -76.00M -87.00M -6.000M
YoY Change 442.86% 1350.0%
NET CHANGE
Cash From Operating Activities 204.0M 105.0M 154.0M
Cash From Investing Activities -67.00M -69.00M -69.00M
Cash From Financing Activities -76.00M -87.00M -6.000M
Net Change In Cash 61.00M -51.00M 79.00M
YoY Change 74.29% -164.56%
FREE CASH FLOW
Cash From Operating Activities $204.0M $105.0M $154.0M
Capital Expenditures -$70.00M -$61.00M $57.00M
Free Cash Flow $274.0M $166.0M $97.00M
YoY Change -41.2% 71.13%

Facts In Submission

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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We prepared estimates based on the most current and best available information, but actual results could differ materially from these estimates and assumptions, particularly in light of the outbreak of a strain of coronavirus, COVID-19. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the Company’s opinion, all adjustments necessary for a fair statement of these interim statements have been included and are of a normal and recurring nature. These interim statements should be read in conjunction with the audited financial statements and notes thereto included in GXO’s Registration Statement on Form 10.</span></div>
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us-gaap Lease Cost
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us-gaap Lease Cost
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CY2021Q2 us-gaap Accounts Receivable From Securitization
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CY2021Q3 gxo Accounts Receivable Sold In Securitization Program
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CY2020Q3 gxo Accounts Receivable Sold In Securitization Program
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gxo Accounts Receivable Sold In Securitization Program
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gxo Accounts Receivable Sold In Securitization Program
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us-gaap Proceeds From Accounts Receivable Securitization
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us-gaap Proceeds From Accounts Receivable Securitization
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CY2020Q3 gxo Accounts Receivable Sold In Factoring Programs
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gxo Accounts Receivable Sold In Factoring Programs
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gxo Accounts Receivable Sold In Factoring Programs
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CY2020Q3 us-gaap Proceeds From Sale Of Finance Receivables
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us-gaap Proceeds From Sale Of Finance Receivables
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us-gaap Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
517000000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Investment Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax
11000000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
1000000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease Before Adjustments And Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseBeforeAdjustmentsAndTax
1000000 USD
us-gaap Other Comprehensive Income Loss Net Investment Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax
11000000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
1000000 USD
us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease Before Adjustments And Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseBeforeAdjustmentsAndTax
1000000 USD
CY2021Q3 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
26000000 GBP
CY2021Q3 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
36000000 USD
CY2021Q3 us-gaap Defined Benefit Pension Plan Current And Noncurrent Liabilities
DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities
60000000 GBP
CY2021Q3 us-gaap Defined Benefit Pension Plan Current And Noncurrent Liabilities
DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities
82000000 USD
CY2021Q3 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1000000000 GBP
CY2021Q3 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1400000000 USD
CY2021Q3 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
1000000000 GBP
CY2021Q3 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
1400000000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
7000000 GBP
CY2021Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
7000000 GBP
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
10000000 USD
CY2021Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
10000000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
72000000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
72000000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18000000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
18000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
97000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
97000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-59000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-59000000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115000000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115000000 shares
us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
185000000 USD
CY2021Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
28000000 USD
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116000000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115000000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.84
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.51
CY2020Q3 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
47000000 USD
us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
173000000 USD

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