2024 Q1 Form 10-K Financial Statement

#000185224424000007 Filed on February 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.456B $2.590B $9.778B
YoY Change 5.73% 4.99% 8.73%
Cost Of Revenue $2.056B $2.160B $8.035B
YoY Change 7.87% 6.14% 7.95%
Gross Profit $400.0M $430.0M $1.743B
YoY Change -4.08% -0.46% 12.45%
Gross Profit Margin 16.29% 16.6% 17.83%
Selling, General & Admin $249.0M $237.0M $998.0M
YoY Change -3.49% -6.32% 12.64%
% of Gross Profit 62.25% 55.12% 57.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $92.00M $93.00M $361.0M
YoY Change 10.84% 6.9% 9.73%
% of Gross Profit 23.0% 21.63% 20.71%
Operating Expenses $249.0M $330.0M $1.359B
YoY Change -3.49% -2.94% 53.39%
Operating Profit -$39.00M $100.0M $384.0M
YoY Change -192.86% 8.7% 58.68%
Interest Expense $13.00M -$12.00M -$53.00M
YoY Change 0.0% 20.0% -282.76%
% of Operating Profit -12.0% -13.8%
Other Income/Expense, Net $6.000M -$7.000M $1.000M
YoY Change 40.0% -98.04%
Pretax Income -$46.00M $68.00M $266.0M
YoY Change -258.62% 15.25% 0.76%
Income Tax -$10.00M -$5.000M $33.00M
% Of Pretax Income -7.35% 12.41%
Net Earnings -$37.00M $73.00M $229.0M
YoY Change -248.0% 58.7% 16.24%
Net Earnings / Revenue -1.51% 2.82% 2.34%
Basic Earnings Per Share -$0.31 $1.93
Diluted Earnings Per Share -$0.31 $0.61 $1.92
COMMON SHARES
Basic Shares Outstanding 119.3M shares 119.0M shares 118.9M shares
Diluted Shares Outstanding 119.3M shares 119.5M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $423.0M $468.0M $468.0M
YoY Change -0.7% -5.45% -5.45%
Cash & Equivalents $423.0M $468.0M $468.0M
Short-Term Investments
Other Short-Term Assets $375.0M $347.0M $347.0M
YoY Change 33.93% 21.33% 21.33%
Inventory
Prepaid Expenses
Receivables $1.665B $1.753B $1.753B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.463B $2.568B $2.568B
YoY Change 6.58% 5.77% 5.77%
LONG-TERM ASSETS
Property, Plant & Equipment $3.143B $3.154B $3.154B
YoY Change 0.35% -1.04% -1.04%
Goodwill $2.870B $2.891B
YoY Change 3.8% 5.98%
Intangibles $542.0M $567.0M
YoY Change -2.34% -0.53%
Long-Term Investments
YoY Change
Other Assets $362.0M $327.0M $327.0M
YoY Change 10.7% 6.86% 181.9%
Total Long-Term Assets $6.917B $6.939B $6.939B
YoY Change 2.04% 2.18% 2.18%
TOTAL ASSETS
Total Short-Term Assets $2.463B $2.568B $2.568B
Total Long-Term Assets $6.917B $6.939B $6.939B
Total Assets $9.380B $9.507B $9.507B
YoY Change 3.19% 3.12% 3.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $615.0M $709.0M $709.0M
YoY Change -5.67% -1.12% -1.12%
Accrued Expenses $976.0M $1.563B $1.563B
YoY Change 7.49% 57.09% 0.51%
Deferred Revenue $210.0M $210.0M
YoY Change 24.26% 36.36%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $126.0M $27.00M $27.00M
YoY Change 50.0% -59.7% -59.7%
Total Short-Term Liabilities $2.625B $2.626B $2.626B
YoY Change 8.43% 3.71% 3.71%
LONG-TERM LIABILITIES
Long-Term Debt $1.511B $1.620B $1.620B
YoY Change -10.96% -6.84% -6.84%
Other Long-Term Liabilities $505.0M $2.315B $2.315B
YoY Change 11.48% 455.16% 1.98%
Total Long-Term Liabilities $3.852B $3.935B $3.935B
YoY Change -2.48% -1.85% -1.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.625B $2.626B $2.626B
Total Long-Term Liabilities $3.852B $3.935B $3.935B
Total Liabilities $6.477B $6.595B $6.595B
YoY Change 1.66% 0.83% 0.32%
SHAREHOLDERS EQUITY
Retained Earnings $515.0M $552.0M
YoY Change 47.99% 70.9%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.869B $2.912B $2.912B
YoY Change
Total Liabilities & Shareholders Equity $9.380B $9.507B $9.507B
YoY Change 3.19% 3.12% 3.12%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$37.00M $73.00M $229.0M
YoY Change -248.0% 58.7% 16.24%
Depreciation, Depletion And Amortization $92.00M $93.00M $361.0M
YoY Change 10.84% 6.9% 9.73%
Cash From Operating Activities $50.00M $215.0M $558.0M
YoY Change 28.21% -4.87% 2.95%
INVESTING ACTIVITIES
Capital Expenditures $73.00M $69.00M $274.0M
YoY Change -19.78% -33.01% -19.88%
Acquisitions $149.0M
YoY Change -82.99%
Other Investing Activities -$9.000M -$149.0M -$136.0M
YoY Change -1590.0% 1600.0%
Cash From Investing Activities -$82.00M -$218.0M -$410.0M
YoY Change 0.0% 134.41% -64.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$8.000M -16.00M -186.0M
YoY Change -72.41% -78.95% -123.63%
NET CHANGE
Cash From Operating Activities $50.00M 215.0M 558.0M
Cash From Investing Activities -$82.00M -218.0M -410.0M
Cash From Financing Activities -$8.000M -16.00M -186.0M
Net Change In Cash -$45.00M -19.00M -38.00M
YoY Change -34.78% -133.33% -123.46%
FREE CASH FLOW
Cash From Operating Activities $50.00M $215.0M $558.0M
Capital Expenditures $73.00M $69.00M $274.0M
Free Cash Flow -$23.00M $146.0M $284.0M
YoY Change -55.77% 18.7% 42.0%

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