2020 Q4 Form 10-Q Financial Statement

#000087471620000041 Filed on October 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $720.9M $721.8M $605.3M
YoY Change 19.07% 19.24% 10.97%
Cost Of Revenue $311.4M $299.2M $260.4M
YoY Change 13.53% 14.91% 8.57%
Gross Profit $409.5M $422.6M $345.0M
YoY Change 23.66% 22.51% 12.86%
Gross Profit Margin 56.8% 58.55% 56.99%
Selling, General & Admin $185.6M $213.2M $170.9M
YoY Change 2.88% 24.78% 7.41%
% of Gross Profit 45.32% 50.46% 49.54%
Research & Development $38.80M $37.52M $34.26M
YoY Change 10.23% 9.51% 17.36%
% of Gross Profit 9.47% 8.88% 9.93%
Depreciation & Amortization $24.60M $24.60M $22.40M
YoY Change 8.85% 9.82% 7.18%
% of Gross Profit 6.01% 5.82% 6.49%
Operating Expenses $224.4M $250.8M $205.1M
YoY Change 4.13% 22.23% 8.95%
Operating Profit $185.1M $171.9M $139.8M
YoY Change 60.08% 22.93% 19.13%
Interest Expense -$7.700M $8.110M $7.090M
YoY Change 8.45% 14.39% -16.12%
% of Operating Profit -4.16% 4.72% 5.07%
Other Income/Expense, Net
YoY Change
Pretax Income $177.4M $164.0M $132.8M
YoY Change 63.5% 23.46% 21.79%
Income Tax $2.500M $17.63M $23.96M
% Of Pretax Income 1.41% 10.75% 18.04%
Net Earnings $174.8M $146.2M $108.8M
YoY Change 93.16% 34.35% 16.71%
Net Earnings / Revenue 24.25% 20.26% 17.98%
Basic Earnings Per Share $1.71 $1.26
Diluted Earnings Per Share $2.009M $1.69 $1.24
COMMON SHARES
Basic Shares Outstanding 85.30M shares 85.31M shares 86.20M shares
Diluted Shares Outstanding 86.69M shares 87.67M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $383.9M $175.6M $104.0M
YoY Change 325.14% 68.85% -29.19%
Cash & Equivalents $383.9M $175.6M $104.0M
Short-Term Investments
Other Short-Term Assets $137.5M $137.9M $126.2M
YoY Change 10.02% 9.3% 11.59%
Inventory $209.9M $217.6M $204.9M
Prepaid Expenses $34.56M $35.97M $32.65M
Receivables $331.4M $337.6M $268.3M
Other Receivables $19.40M $24.00M $20.60M
Total Short-Term Assets $1.063B $868.7M $703.4M
YoY Change 56.37% 23.5% -0.12%
LONG-TERM ASSETS
Property, Plant & Equipment $555.2M $547.6M $496.6M
YoY Change 3.99% 10.28% 21.12%
Goodwill $243.3M $238.1M $212.2M
YoY Change 1.51% 12.22% -1.79%
Intangibles $52.54M $53.47M $35.66M
YoY Change -10.13% 49.93% -15.93%
Long-Term Investments $12.10M $12.60M $13.10M
YoY Change -11.68% -3.82% 24.76%
Other Assets $289.6M $254.8M $224.7M
YoY Change 20.57% 13.39% 30.73%
Total Long-Term Assets $1.232B $1.179B $1.048B
YoY Change 6.85% 12.46% 24.72%
TOTAL ASSETS
Total Short-Term Assets $1.063B $868.7M $703.4M
Total Long-Term Assets $1.232B $1.179B $1.048B
Total Assets $2.295B $2.047B $1.751B
YoY Change 25.22% 16.9% 13.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.56M $71.93M $75.52M
YoY Change 3.31% -4.74% 15.37%
Accrued Expenses $415.6M $362.3M $278.6M
YoY Change 28.71% 30.04% 16.86%
Deferred Revenue $42.57M $42.60M $42.99M
YoY Change 2.67% -0.9% 4.46%
Short-Term Debt $0.00 $0.00 $229.5M
YoY Change -100.0% -100.0% -44.63%
Long-Term Debt Due $49.99M $49.98M
YoY Change
Total Short-Term Liabilities $582.8M $526.8M $626.6M
YoY Change -19.66% -15.92% -17.5%
LONG-TERM LIABILITIES
Long-Term Debt $858.5M $853.3M $599.5M
YoY Change 22.83% 42.34% 20.0%
Other Long-Term Liabilities $85.60M $79.66M $77.08M
YoY Change 5.47% 3.36% -5.42%
Total Long-Term Liabilities $1.079B $1.079B $922.1M
YoY Change 16.11% 17.06% 17.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $582.8M $526.8M $626.6M
Total Long-Term Liabilities $1.079B $1.079B $922.1M
Total Liabilities $1.662B $1.606B $1.549B
YoY Change 0.43% 3.71% 0.19%
SHAREHOLDERS EQUITY
Retained Earnings $2.176B $2.001B $1.505B
YoY Change 36.35% 32.93% 39.07%
Common Stock $1.305B $1.285B $1.200B
YoY Change 6.65% 7.05% 5.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.800B $2.788B $2.462B
YoY Change 7.67% 13.27% 12.66%
Treasury Stock Shares 21.01M shares 20.98M shares 19.71M shares
Shareholders Equity $632.1M $440.6M $202.4M
YoY Change
Total Liabilities & Shareholders Equity $2.295B $2.047B $1.751B
YoY Change 25.22% 16.9% 13.4%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $174.8M $146.2M $108.8M
YoY Change 93.16% 34.35% 16.71%
Depreciation, Depletion And Amortization $24.60M $24.60M $22.40M
YoY Change 8.85% 9.82% 7.18%
Cash From Operating Activities $219.0M $193.1M $132.2M
YoY Change 40.84% 46.07% 19.42%
INVESTING ACTIVITIES
Capital Expenditures -$14.50M -$19.20M -$37.30M
YoY Change -68.41% -48.53% 17.67%
Acquisitions
YoY Change
Other Investing Activities -$1.200M -$300.0K $0.00
YoY Change -97.6% -100.0%
Cash From Investing Activities -$15.70M -$19.50M -$37.30M
YoY Change -83.63% -47.72% -31.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 400.0K -104.2M -99.70M
YoY Change -100.54% 4.51% 18.27%
NET CHANGE
Cash From Operating Activities 219.0M 193.1M 132.2M
Cash From Investing Activities -15.70M -19.50M -37.30M
Cash From Financing Activities 400.0K -104.2M -99.70M
Net Change In Cash 203.7M 69.40M -4.800M
YoY Change -1476.35% -1545.83% -82.8%
FREE CASH FLOW
Cash From Operating Activities $219.0M $193.1M $132.2M
Capital Expenditures -$14.50M -$19.20M -$37.30M
Free Cash Flow $233.5M $212.3M $169.5M
YoY Change 15.94% 25.25% 19.03%

Facts In Submission

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us-gaap Loss Contingency Damages Sought Value
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CY2020Q3 us-gaap Derivative Notional Amount
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CY2020Q3 idxx Other Comprehensive Income Loss Net Investment Hedge Euro Denominated Notes Gain Loss After Reclassification And Tax
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CY2019Q3 idxx Other Comprehensive Income Loss Net Investment Hedge Euro Denominated Notes Gain Loss After Reclassification And Tax
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3500000 USD
CY2020Q3 idxx Other Comprehensive Income Loss Net Investment Hedge Cross Currency Swaps Gain Loss Before Reclassification After Tax
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CY2020Q3 us-gaap Gain Loss On Components Excluded From Assessment Of Interest Rate Cash Flow Hedge Effectiveness
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us-gaap Gain Loss On Components Excluded From Assessment Of Interest Rate Cash Flow Hedge Effectiveness
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CY2019Q3 us-gaap Gain Loss On Components Excluded From Assessment Of Interest Rate Cash Flow Hedge Effectiveness
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600000 USD
us-gaap Gain Loss On Components Excluded From Assessment Of Interest Rate Cash Flow Hedge Effectiveness
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1700000 USD

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