2024 Q3 Form 10-Q Financial Statement

#000005143424000053 Filed on July 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $4.686B $4.734B
YoY Change 1.58% 1.11%
Cost Of Revenue $3.342B $3.360B
YoY Change -0.09% 0.0%
Gross Profit $1.344B $1.374B
YoY Change 5.99% 3.93%
Gross Profit Margin 28.68% 29.02%
Selling, General & Admin $508.0M $453.0M
YoY Change 77.62% -39.76%
% of Gross Profit 37.8% 32.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $267.0M $261.0M
YoY Change 3.49% 6.97%
% of Gross Profit 19.87% 19.0%
Operating Expenses $508.0M $453.0M
YoY Change 77.62% -54.52%
Operating Profit $237.0M $322.0M
YoY Change -32.67% -1.23%
Interest Expense $106.0M $107.0M
YoY Change 0.95% -281.36%
% of Operating Profit 44.73% 33.23%
Other Income/Expense, Net $5.000M $23.00M
YoY Change -75.0% -291.67%
Pretax Income $80.00M $206.0M
YoY Change -65.52% -19.22%
Income Tax -$71.00M -$293.0M
% Of Pretax Income -88.75% -142.23%
Net Earnings $150.0M $498.0M
YoY Change -9.09% 111.91%
Net Earnings / Revenue 3.2% 10.52%
Basic Earnings Per Share $0.43 $1.43
Diluted Earnings Per Share $0.42 $1.41
COMMON SHARES
Basic Shares Outstanding 347.4M shares 347.3M shares
Diluted Shares Outstanding 353.4M shares 352.8M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.159B $1.049B
YoY Change 0.87% 40.62%
Cash & Equivalents $1.159B $1.049B
Short-Term Investments
Other Short-Term Assets $139.0M $147.0M
YoY Change -7.33% -22.22%
Inventory $1.795B $1.728B
Prepaid Expenses
Receivables $3.284B $3.351B
Other Receivables $266.0M $282.0M
Total Short-Term Assets $6.643B $6.557B
YoY Change -2.02% 1.25%
LONG-TERM ASSETS
Property, Plant & Equipment $9.960B $9.953B
YoY Change -4.53% -8.87%
Goodwill $3.038B $3.040B
YoY Change -0.1% -0.1%
Intangibles
YoY Change
Long-Term Investments $2.487B $2.484B
YoY Change -0.2% -0.08%
Other Assets $398.0M $419.0M
YoY Change -5.69% -24.37%
Total Long-Term Assets $16.52B $16.51B
YoY Change -3.8% -4.07%
TOTAL ASSETS
Total Short-Term Assets $6.643B $6.557B
Total Long-Term Assets $16.52B $16.51B
Total Assets $23.16B $23.06B
YoY Change -3.3% -2.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.436B $2.350B
YoY Change 3.09% -1.84%
Accrued Expenses $791.0M $624.0M
YoY Change 51.82% 16.2%
Deferred Revenue $11.00M $17.00M
YoY Change -26.67% -22.73%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $259.0M $259.0M
YoY Change 115.83% 4.44%
Total Short-Term Liabilities $4.353B $4.114B
YoY Change 12.13% 1.16%
LONG-TERM LIABILITIES
Long-Term Debt $5.307B $5.329B
YoY Change -4.36% -4.36%
Other Long-Term Liabilities $1.129B $1.099B
YoY Change 3.96% -71.86%
Total Long-Term Liabilities $1.129B $1.099B
YoY Change 3.96% -88.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.353B $4.114B
Total Long-Term Liabilities $1.129B $1.099B
Total Liabilities $5.482B $5.213B
YoY Change 10.35% -65.88%
SHAREHOLDERS EQUITY
Retained Earnings $9.705B $9.719B
YoY Change -2.34% -2.2%
Common Stock $5.159B $5.137B
YoY Change 0.1% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.681B $4.681B
YoY Change -1.45% -1.47%
Treasury Stock Shares
Shareholders Equity $8.629B $8.595B
YoY Change
Total Liabilities & Shareholders Equity $23.16B $23.06B
YoY Change -3.3% -2.62%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $150.0M $498.0M
YoY Change -9.09% 111.91%
Depreciation, Depletion And Amortization $267.0M $261.0M
YoY Change 3.49% 6.97%
Cash From Operating Activities $521.0M $365.0M
YoY Change 11.32% -30.87%
INVESTING ACTIVITIES
Capital Expenditures $212.0M $198.0M
YoY Change -7.02% -25.84%
Acquisitions
YoY Change
Other Investing Activities $24.00M -$1.000M
YoY Change -94.93% -133.33%
Cash From Investing Activities -$188.0M -$199.0M
YoY Change -176.73% -24.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -223.0M -174.0M
YoY Change -27.12% -24.35%
NET CHANGE
Cash From Operating Activities 521.0M 365.0M
Cash From Investing Activities -188.0M -199.0M
Cash From Financing Activities -223.0M -174.0M
Net Change In Cash 110.0M -8.000M
YoY Change -72.97% -123.53%
FREE CASH FLOW
Cash From Operating Activities $521.0M $365.0M
Capital Expenditures $212.0M $198.0M
Free Cash Flow $309.0M $167.0M
YoY Change 28.75% -36.02%

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CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2023Q1 us-gaap Proceeds From Dividends Received
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us-gaap Proceeds From Dividends Received
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CY2024Q2 us-gaap Goodwill
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CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2024Q2 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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us-gaap Income Taxes Paid Net
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us-gaap Income Taxes Paid Net
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CY2024Q2 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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CY2024Q2 us-gaap Deferred Income Taxes And Tax Credits
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CY2021Q2 ip Remedial Design Percentage
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CY2024Q2 us-gaap Minimum Net Worth Required For Compliance
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CY2024Q2 us-gaap Debt Instrument Fair Value
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CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2024Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2023Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2024Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2024Q2 us-gaap Income Loss From Equity Method Investments
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CY2023Q2 us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2024Q2 us-gaap Interest Income Expense Net
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CY2024Q2 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Redeemable
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CY2024Q2 us-gaap Other Nonoperating Income Expense
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CY2024Q2 us-gaap Other Nonrecurring Income Expense
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us-gaap Other Nonrecurring Income Expense
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CY2024Q2 ip Segment Reporting Information Business Special Items
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CY2023Q2 ip Segment Reporting Information Business Special Items
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CY2024Q2 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2024Q2 us-gaap Operating Income Loss
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CY2023Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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Files In Submission

Name View Source Status
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ip-20240630_lab.xml Edgar Link unprocessable
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exhibit101inducementawardp.htm Edgar Link pending
exhibit102formofnoticeofaw.htm Edgar Link pending
exhibit103noticeofawardrec.htm Edgar Link pending
exhibit1042024long-terminc.htm Edgar Link pending
exhibit105timesharingagree.htm Edgar Link pending
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ip-20240630.htm Edgar Link pending
ip-20240630.xsd Edgar Link pending
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ip-6302024xex312certificat.htm Edgar Link pending
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