2023 Q1 Form 10-K Financial Statement

#000158568923000036 Filed on February 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.293B $2.444B $8.773B
YoY Change 33.24% 33.12% 51.57%
Cost Of Revenue $1.395B $1.487B $5.076B
YoY Change 36.63% 33.36% 46.96%
Gross Profit $898.0M $957.0M $3.697B
YoY Change 28.29% 32.73% 58.4%
Gross Profit Margin 39.16% 39.16% 42.14%
Selling, General & Admin $342.0M $389.0M $1.381B
YoY Change 23.91% 17.88% 27.4%
% of Gross Profit 38.08% 40.65% 37.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.00M $39.00M $162.0M
YoY Change -15.91% -13.33% -13.83%
% of Gross Profit 4.12% 4.08% 4.38%
Operating Expenses $400.0M $453.0M $1.603B
YoY Change 20.85% 16.45% 21.72%
Operating Profit $498.0M $504.0M $2.094B
YoY Change 34.96% 51.81% 107.33%
Interest Expense $116.0M -$119.0M $415.0M
YoY Change 28.89% 15.53% 4.53%
% of Operating Profit 23.29% -23.61% 19.82%
Other Income/Expense, Net $21.00M $18.00M $60.00M
YoY Change 90.91% 157.14% 33.33%
Pretax Income $302.0M $403.0M $1.734B
YoY Change 3.78% 70.04% 209.64%
Income Tax $93.00M $70.00M $477.0M
% Of Pretax Income 30.79% 17.37% 27.51%
Net Earnings $206.0M $328.0M $1.255B
YoY Change -2.83% 123.13% 206.1%
Net Earnings / Revenue 8.98% 13.42% 14.31%
Basic Earnings Per Share $0.77 $4.56
Diluted Earnings Per Share $0.77 $1.21 $4.53
COMMON SHARES
Basic Shares Outstanding 266.5M shares 270.5M shares 275.0M shares
Diluted Shares Outstanding 269.0M shares 277.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $901.0M $1.209B $1.209B
YoY Change -37.08% -15.28% -15.28%
Cash & Equivalents $901.0M $1.209B $1.209B
Short-Term Investments
Other Short-Term Assets $127.0M $152.0M $334.0M
YoY Change -3.79% -24.75% -330.34%
Inventory
Prepaid Expenses $158.0M $105.0M
Receivables $1.298B $1.327B $1.327B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.561B $2.870B $2.870B
YoY Change -10.49% -0.03% 22.13%
LONG-TERM ASSETS
Property, Plant & Equipment $287.0M $280.0M $942.0M
YoY Change -1.03% -8.2% -5.71%
Goodwill $5.041B $5.032B
YoY Change -0.4% -0.77%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $495.0M $576.0M $780.0M
YoY Change -9.01% 27.43% 17.29%
Total Long-Term Assets $12.65B $12.64B $12.64B
YoY Change 0.41% 0.57% 0.57%
TOTAL ASSETS
Total Short-Term Assets $2.561B $2.870B $2.870B
Total Long-Term Assets $12.65B $12.64B $12.64B
Total Assets $15.21B $15.51B $15.51B
YoY Change -1.6% 0.46% 3.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.704B $368.0M $368.0M
YoY Change 6.23% 34.31% 34.31%
Accrued Expenses $112.0M $667.0M
YoY Change -20.0% 1.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $35.00M $39.00M $39.00M
YoY Change -22.22% -27.78% -27.78%
Total Short-Term Liabilities $3.390B $3.372B $3.372B
YoY Change 9.89% 11.69% 11.69%
LONG-TERM LIABILITIES
Long-Term Debt $8.706B $8.708B $8.708B
YoY Change -0.16% -0.05% -0.05%
Other Long-Term Liabilities $684.0M $692.0M $3.795B
YoY Change -1.16% -7.24% 14.72%
Total Long-Term Liabilities $684.0M $692.0M $12.50B
YoY Change -1.16% -7.24% 4.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.390B $3.372B $3.372B
Total Long-Term Liabilities $684.0M $692.0M $12.50B
Total Liabilities $16.62B $16.61B $16.61B
YoY Change 2.9% 2.15% 5.55%
SHAREHOLDERS EQUITY
Retained Earnings -$5.025B -$5.190B
YoY Change -17.76% -17.91%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.489B $6.040B
YoY Change 41.9% 35.94%
Treasury Stock Shares 65.22M shares
Shareholders Equity -$1.420B -$1.102B -$1.102B
YoY Change
Total Liabilities & Shareholders Equity $15.21B $15.51B $15.51B
YoY Change -1.6% 0.46% 3.97%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $206.0M $328.0M $1.255B
YoY Change -2.83% 123.13% 206.1%
Depreciation, Depletion And Amortization $37.00M $39.00M $162.0M
YoY Change -15.91% -13.33% -13.83%
Cash From Operating Activities $330.0M $482.0M $1.681B
YoY Change 69.23% 267.94% 1442.2%
INVESTING ACTIVITIES
Capital Expenditures $44.00M $40.00M $39.00M
YoY Change 1000.0% -217.65% 11.43%
Acquisitions
YoY Change
Other Investing Activities $0.00 $15.00M $1.000M
YoY Change -100.0% 36.36% -106.25%
Cash From Investing Activities -$85.00M -$25.00M -$123.0M
YoY Change 226.92% 8.7% 115.79%
FINANCING ACTIVITIES
Cash Dividend Paid $41.00M $123.0M
YoY Change
Common Stock Issuance & Retirement, Net $1.590B
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$547.0M -535.0M -$1.765B
YoY Change 227.54% -2647.62% -1.56%
NET CHANGE
Cash From Operating Activities $330.0M 482.0M $1.681B
Cash From Investing Activities -$85.00M -25.00M -$123.0M
Cash From Financing Activities -$547.0M -535.0M -$1.765B
Net Change In Cash -$308.0M -78.00M -$226.0M
YoY Change 15300.0% -160.47% -87.09%
FREE CASH FLOW
Cash From Operating Activities $330.0M $482.0M $1.681B
Capital Expenditures $44.00M $40.00M $39.00M
Free Cash Flow $286.0M $442.0M $1.642B
YoY Change 49.74% 167.88% 2118.92%

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<div style="text-indent:18pt"><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="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><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 United States ("U.S.") generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported and, accordingly, ultimate results could differ from those estimates. In particular, the coronavirus ("COVID-19") pandemic (the "COVID-19 pandemic" or the "pandemic") had an adverse impact on certain of our results for the years ended December 31, 2022, 2021 and 2020; however, our results experienced significant recovery during the years ended December 31, 2022 and 2021 when compared to the year ended December 31, 2020, the period most impacted by the pandemic. The years ended December 31, 2022, 2021 and 2020, as well as upcoming periods, may not be comparable to periods prior to the onset of the COVID-19 pandemic or to other periods affected by the pandemic, and are not indicative of future performance. Management has made estimates and judgments in light of these circumstances.</span></div>
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CY2022Q4 hlt Number Of Consolidated Variable Interest Entities
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report.css Edgar Link pending
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hlt-20221231_pre.xml Edgar Link unprocessable