2023 Q3 Form 10-Q Financial Statement

#000103526723000159 Filed on July 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.744B $1.756B
YoY Change 11.96% 15.36%
Cost Of Revenue $576.5M $584.0M
YoY Change 14.09% 17.08%
Gross Profit $1.167B $1.172B
YoY Change 10.94% 14.52%
Gross Profit Margin 66.94% 66.74%
Selling, General & Admin $452.0M $463.5M
YoY Change 3.65% 10.78%
% of Gross Profit 38.73% 39.55%
Research & Development $249.4M $242.2M
YoY Change 14.88% 16.84%
% of Gross Profit 21.37% 20.67%
Depreciation & Amortization $116.3M $104.8M
YoY Change 20.02% 12.69%
% of Gross Profit 9.96% 8.94%
Operating Expenses $701.4M $706.5M
YoY Change 7.38% 12.91%
Operating Profit $465.8M $465.4M
YoY Change 16.77% 17.05%
Interest Expense $56.20M $36.00M
YoY Change 1341.03% 287.1%
% of Operating Profit 12.07% 7.74%
Other Income/Expense, Net $56.20M $36.00M
YoY Change 1341.03% 287.1%
Pretax Income $522.0M $499.2M
YoY Change 29.59% 22.68%
Income Tax $102.2M $73.20M
% Of Pretax Income 19.58% 14.66%
Net Earnings $415.7M $420.8M
YoY Change 28.3% 36.71%
Net Earnings / Revenue 23.84% 23.96%
Basic Earnings Per Share $1.18 $1.20
Diluted Earnings Per Share $1.16 $1.18
COMMON SHARES
Basic Shares Outstanding 351.4M shares 350.4M shares
Diluted Shares Outstanding 358.2M shares 357.3M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.610B $5.934B
YoY Change -10.58% 30.06%
Cash & Equivalents $3.602B $2.915B
Short-Term Investments $3.008B $2.498B
Other Short-Term Assets $183.0M $188.6M
YoY Change 10.31% 12.6%
Inventory $1.148B $1.005B
Prepaid Expenses
Receivables $962.7M $904.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.903B $8.032B
YoY Change 41.47% 27.64%
LONG-TERM ASSETS
Property, Plant & Equipment $3.077B $2.831B
YoY Change 37.14% 34.21%
Goodwill $348.1M $348.6M
YoY Change -0.03% -0.14%
Intangibles
YoY Change
Long-Term Investments $1.045B $1.333B
YoY Change -66.05% -64.35%
Other Assets $1.298B $1.312B
YoY Change -18.38% 14.11%
Total Long-Term Assets $5.810B $5.872B
YoY Change -16.62% -20.79%
TOTAL ASSETS
Total Short-Term Assets $8.903B $8.032B
Total Long-Term Assets $5.810B $5.872B
Total Assets $14.71B $13.90B
YoY Change 10.95% 1.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $196.2M $199.7M
YoY Change 19.49% 33.4%
Accrued Expenses $743.0M $703.3M
YoY Change 16.26% 15.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.676B $1.538B
YoY Change 35.92% 30.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $413.0M $405.2M
YoY Change -8.91% -9.51%
Total Long-Term Liabilities $413.0M $405.2M
YoY Change -8.91% -9.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.676B $1.538B
Total Long-Term Liabilities $413.0M $405.2M
Total Liabilities $2.089B $2.024B
YoY Change 23.86% 24.74%
SHAREHOLDERS EQUITY
Retained Earnings $4.209B $3.808B
YoY Change 4.76% -18.69%
Common Stock $8.386B $8.151B
YoY Change 9.12% 8.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.54B $11.88B
YoY Change
Total Liabilities & Shareholders Equity $14.71B $13.90B
YoY Change 10.95% 1.45%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $415.7M $420.8M
YoY Change 28.3% 36.71%
Depreciation, Depletion And Amortization $116.3M $104.8M
YoY Change 20.02% 12.69%
Cash From Operating Activities $548.4M $665.7M
YoY Change 43.11% 49.03%
INVESTING ACTIVITIES
Capital Expenditures $256.3M $178.3M
YoY Change -251.57% -236.63%
Acquisitions
YoY Change
Other Investing Activities -$190.3M $735.9M
YoY Change -126.67% 23.33%
Cash From Investing Activities -$446.6M $557.6M
YoY Change -182.02% 19.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 61.80M 63.30M
YoY Change -106.67% -113.13%
NET CHANGE
Cash From Operating Activities 548.4M 665.7M
Cash From Investing Activities -446.6M 557.6M
Cash From Financing Activities 61.80M 63.30M
Net Change In Cash 163.6M 1.287B
YoY Change 18077.78% 198.65%
FREE CASH FLOW
Cash From Operating Activities $548.4M $665.7M
Capital Expenditures $256.3M $178.3M
Free Cash Flow $292.1M $487.4M
YoY Change -47.11% -15.56%

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
144.86
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
700000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
233.50
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1400000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
80.73
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
100000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
254.12
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10000000.0 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
159.59
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7900000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
136.18
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
300000 shares
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
148200000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
127300000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
28500000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
20900000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
119700000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
106400000 usd
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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