2023 Q4 Form 10-Q Financial Statement

#000162828023035804 Filed on November 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $1.346B $1.376B
YoY Change 10.35% 4.53%
Cost Of Revenue $872.8M $888.4M
YoY Change 2.61% -3.19%
Gross Profit $473.0M $487.4M
YoY Change 28.18% 22.31%
Gross Profit Margin 35.15% 35.43%
Selling, General & Admin $229.6M $211.1M
YoY Change 16.9% 8.31%
% of Gross Profit 48.54% 43.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.60M $37.60M
YoY Change -3.18% -1.57%
% of Gross Profit 8.37% 7.71%
Operating Expenses $229.6M $211.1M
YoY Change 16.9% 8.31%
Operating Profit $243.4M $276.3M
YoY Change 41.02% 35.71%
Interest Expense -$10.00M -$7.800M
YoY Change -14.53% -35.54%
% of Operating Profit -4.11% -2.82%
Other Income/Expense, Net -$6.100M -$3.500M
YoY Change 154.17% -537.5%
Pretax Income $209.5M $265.0M
YoY Change 33.61% 38.89%
Income Tax $37.10M $63.00M
% Of Pretax Income 17.71% 23.77%
Net Earnings $170.6M $200.1M
YoY Change 63.57% 43.85%
Net Earnings / Revenue 12.68% 14.54%
Basic Earnings Per Share $3.72
Diluted Earnings Per Share $3.16 $3.70
COMMON SHARES
Basic Shares Outstanding 53.62M shares 53.63M shares
Diluted Shares Outstanding 54.00M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $348.7M $590.7M
YoY Change -23.33% 55.69%
Cash & Equivalents $336.1M $572.8M
Short-Term Investments $12.60M $17.90M
Other Short-Term Assets $200.2M $86.40M
YoY Change 137.49% 14.29%
Inventory $832.9M $788.4M
Prepaid Expenses
Receivables $785.4M $852.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.167B $2.318B
YoY Change 7.21% 16.24%
LONG-TERM ASSETS
Property, Plant & Equipment $652.6M $572.2M
YoY Change 23.6% 19.58%
Goodwill $2.533B $1.995B
YoY Change 28.57% 2.36%
Intangibles $1.196B $644.7M
YoY Change 78.53% -6.61%
Long-Term Investments $75.80M $61.60M
YoY Change 15.02% -7.51%
Other Assets $289.0M $176.7M
YoY Change 96.73% 10.64%
Total Long-Term Assets $4.747B $3.450B
YoY Change 40.39% 3.17%
TOTAL ASSETS
Total Short-Term Assets $2.167B $2.318B
Total Long-Term Assets $4.747B $3.450B
Total Assets $6.914B $5.768B
YoY Change 27.98% 8.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $563.5M $554.7M
YoY Change 6.34% -2.67%
Accrued Expenses $617.9M $303.6M
YoY Change 84.94% -0.85%
Deferred Revenue $111.5M
YoY Change 143.45%
Short-Term Debt $0.00 $3.300M
YoY Change -100.0% -17.5%
Long-Term Debt Due $117.4M
YoY Change
Total Short-Term Liabilities $1.323B $1.071B
YoY Change 21.58% 0.84%
LONG-TERM LIABILITIES
Long-Term Debt $2.023B $1.440B
YoY Change 40.71% 0.17%
Other Long-Term Liabilities $678.1M $506.7M
YoY Change 34.12% -0.33%
Total Long-Term Liabilities $2.701B $1.946B
YoY Change 38.99% 0.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.323B $1.071B
Total Long-Term Liabilities $2.701B $1.946B
Total Liabilities $4.037B $3.018B
YoY Change 33.15% 0.32%
SHAREHOLDERS EQUITY
Retained Earnings $3.183B
YoY Change 17.64%
Common Stock $6.100M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.877B $2.739B
YoY Change
Total Liabilities & Shareholders Equity $6.914B $5.768B
YoY Change 27.98% 8.05%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $170.6M $200.1M
YoY Change 63.57% 43.85%
Depreciation, Depletion And Amortization $39.60M $37.60M
YoY Change -3.18% -1.57%
Cash From Operating Activities $345.5M $193.9M
YoY Change 44.26% -9.48%
INVESTING ACTIVITIES
Capital Expenditures $61.90M $34.90M
YoY Change -0.32% -237.94%
Acquisitions
YoY Change
Other Investing Activities -$1.157B $1.700M
YoY Change 9229.84% -100.97%
Cash From Investing Activities -$1.219B -$33.20M
YoY Change 1535.97% -83.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 630.2M -75.80M
YoY Change -751.03% 22.06%
NET CHANGE
Cash From Operating Activities 345.5M 193.9M
Cash From Investing Activities -1.219B -33.20M
Cash From Financing Activities 630.2M -75.80M
Net Change In Cash -243.1M 84.90M
YoY Change -456.45% -272.91%
FREE CASH FLOW
Cash From Operating Activities $345.5M $193.9M
Capital Expenditures $61.90M $34.90M
Free Cash Flow $283.6M $159.0M
YoY Change 59.86% -33.61%

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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
10.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.14
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
46200000 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
66100000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
9200000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
14000000.0 usd
hubb Standard And Extended Product Warranty Expenditures Payments And Other
StandardAndExtendedProductWarrantyExpendituresPaymentsAndOther
8600000 usd
hubb Standard And Extended Product Warranty Expenditures Payments And Other
StandardAndExtendedProductWarrantyExpendituresPaymentsAndOther
23300000 usd
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
46800000 usd
CY2022Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
56800000 usd
CY2023Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
852900000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
13200000 usd
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-1100000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
58200000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61400000 usd
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
59800000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
62600000 usd
CY2023Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1600000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1300000 usd
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
58100000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
53700000 usd
CY2023Q3 us-gaap Trading Securities
TradingSecurities
21300000 usd
CY2022Q4 us-gaap Trading Securities
TradingSecurities
18800000 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
58200000 usd
CY2023Q3 us-gaap Trading Securities
TradingSecurities
21300000 usd
CY2023Q3 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
21300000 usd
CY2023Q3 us-gaap Cash Flow Hedge Derivative Instrument Assets At Fair Value
CashFlowHedgeDerivativeInstrumentAssetsAtFairValue
300000 usd
CY2023Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
416100000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61400000 usd
CY2022Q4 us-gaap Trading Securities
TradingSecurities
18800000 usd
CY2022Q4 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
18800000 usd
CY2022Q4 us-gaap Cash Flow Hedge Derivative Instrument Assets At Fair Value
CashFlowHedgeDerivativeInstrumentAssetsAtFairValue
1100000 usd
CY2022Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
215200000 usd
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
3400000 usd
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
2000000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
2000000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
3800000 usd
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
1100000 usd
CY2022Q3 us-gaap Restructuring Charges
RestructuringCharges
6500000 usd
us-gaap Restructuring Charges
RestructuringCharges
3400000 usd
us-gaap Restructuring Charges
RestructuringCharges
9700000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
7900000 usd
us-gaap Restructuring Charges
RestructuringCharges
3400000 usd
us-gaap Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
-6500000 usd
CY2023Q3 us-gaap Restructuring Reserve
RestructuringReserve
4800000 usd
CY2023Q3 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
17200000 usd
CY2022 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
10300000 usd
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
3400000 usd
CY2023Q3 us-gaap Restructuring And Related Cost Expected Cost Remaining1
RestructuringAndRelatedCostExpectedCostRemaining1
3500000 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1439700000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1437900000 usd
CY2023Q3 us-gaap Debt Current
DebtCurrent
3300000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
4700000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
9700000 shares
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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