2024 Q1 Form 10-Q Financial Statement

#000091420824000276 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1
Revenue $1.475B
YoY Change 4.03%
Cost Of Revenue $504.0M
YoY Change 10.74%
Gross Profit $971.3M
YoY Change 0.85%
Gross Profit Margin 65.84%
Selling, General & Admin $746.9M
YoY Change 641.71%
% of Gross Profit 76.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.30M
YoY Change -75.85%
% of Gross Profit 1.16%
Operating Expenses $758.2M
YoY Change -37.27%
Operating Profit $213.1M
YoY Change 1.72%
Interest Expense $3.400M
YoY Change -81.11%
% of Operating Profit 1.6%
Other Income/Expense, Net $66.40M
YoY Change 142.34%
Pretax Income $282.9M
YoY Change 20.03%
Income Tax $68.70M
% Of Pretax Income 24.28%
Net Earnings $141.5M
YoY Change -2.41%
Net Earnings / Revenue 9.59%
Basic Earnings Per Share $0.31
Diluted Earnings Per Share $0.31
COMMON SHARES
Basic Shares Outstanding 449.2M shares
Diluted Shares Outstanding 453.5M shares

Balance Sheet

Concept 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $895.7M
YoY Change 0.75%
Cash & Equivalents $895.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $708.3M
Other Receivables $0.00
Total Short-Term Assets $895.7M
YoY Change -47.15%
LONG-TERM ASSETS
Property, Plant & Equipment $583.6M
YoY Change 1.92%
Goodwill $8.621B
YoY Change 0.21%
Intangibles $5.832B
YoY Change -18.21%
Long-Term Investments $10.08B
YoY Change 1432.37%
Other Assets
YoY Change
Total Long-Term Assets $27.18B
YoY Change -3.06%
TOTAL ASSETS
Total Short-Term Assets $895.7M
Total Long-Term Assets $27.18B
Total Assets $28.08B
YoY Change -5.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.321B
YoY Change -9.86%
Accrued Expenses $452.5M
YoY Change 4.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.774B
YoY Change -30.42%
LONG-TERM LIABILITIES
Long-Term Debt $8.628B
YoY Change 4.42%
Other Long-Term Liabilities $3.597B
YoY Change 754.68%
Total Long-Term Liabilities $12.22B
YoY Change 40.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.774B
Total Long-Term Liabilities $12.22B
Total Liabilities $13.52B
YoY Change 4.63%
SHAREHOLDERS EQUITY
Retained Earnings $6.878B
YoY Change -9.23%
Common Stock $7.428B
YoY Change -1.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.864B
YoY Change -0.82%
Treasury Stock Shares
Shareholders Equity $14.55B
YoY Change
Total Liabilities & Shareholders Equity $28.08B
YoY Change -5.57%

Cashflow Statement

Concept 2024 Q1
OPERATING ACTIVITIES
Net Income $141.5M
YoY Change -2.41%
Depreciation, Depletion And Amortization $11.30M
YoY Change -75.85%
Cash From Operating Activities -$54.40M
YoY Change -44.99%
INVESTING ACTIVITIES
Capital Expenditures $21.00M
YoY Change -44.88%
Acquisitions
YoY Change
Other Investing Activities -$266.3M
YoY Change -418.54%
Cash From Investing Activities -$287.3M
YoY Change -731.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$148.3M
YoY Change -16.92%
NET CHANGE
Cash From Operating Activities -$54.40M
Cash From Investing Activities -$287.3M
Cash From Financing Activities -$148.3M
Net Change In Cash -$490.0M
YoY Change 111.3%
FREE CASH FLOW
Cash From Operating Activities -$54.40M
Capital Expenditures $21.00M
Free Cash Flow -$75.40M
YoY Change -44.96%

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CY2023Q1 us-gaap Dividends Common Stock Cash
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q1 ivz Vested Shares
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CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q1 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
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<div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-indent:9pt"><span><br/></span></div><div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In the quarter ended March 31, 2024, expenses for client-related travel and entertainment and outsourced services were reclassified to General and administrative expenses. The impact of this reclassification on the Consolidated Statements of Income is as follows:</span></div><div style="text-indent:9pt"><span><br/></span></div><div style="padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">• For the three months ended March 31, 2024: decreased Marketing and Property, office and technology expenses by $6.7 million and $23.6 million, respectively, and increased General and administrative by $30.3 million.</span></div><div style="padding-left:36pt"><span><br/></span></div><div style="padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">• For the three months ended March 31, 2023: decreased Marketing and Property, office and technology expenses by $5.4 million and $23.9 million, respectively, and increased General and administrative by $29.3 million.</span></div><div style="text-indent:9pt"><span><br/></span></div><div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reclassification had no impact on our reported Operating revenues, Operating income, Net income, or any internal performance measure on which management is compensated.</span></div>
CY2023Q4 us-gaap Equity Method Investments
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CY2024Q1 us-gaap Other Investments
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CY2023Q4 us-gaap Other Investments
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CY2024Q1 us-gaap Investments
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CY2023Q4 us-gaap Investments
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CY2024Q1 us-gaap Liabilities Fair Value Disclosure
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CY2023Q4 us-gaap Separate Account Assets
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CY2023Q4 us-gaap Derivative Assets
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CY2023Q4 us-gaap Assets Fair Value Disclosure
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CY2023Q4 us-gaap Liabilities Fair Value Disclosure
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CY2024Q1 us-gaap Equity Method Investments
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CY2024Q1 us-gaap Other Investments
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CY2023Q4 us-gaap Equity Method Investments
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CY2023Q4 us-gaap Other Investments
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CY2024Q1 us-gaap Equity Method Investments
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CY2023Q1 us-gaap Unrealized Gain Loss On Investments
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CY2024Q1 us-gaap Preferred Stock Shares Issued
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2024Q1 us-gaap Preferred Stock Shares Outstanding
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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CY2024Q1 us-gaap Common Stock Shares Issued
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CY2023Q4 us-gaap Common Stock Shares Issued
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CY2024Q1 ivz Treasury Stock Shares For Which Dividendand Voting Rights Do Not Apply
TreasuryStockSharesForWhichDividendandVotingRightsDoNotApply
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CY2023Q4 ivz Treasury Stock Shares For Which Dividendand Voting Rights Do Not Apply
TreasuryStockSharesForWhichDividendandVotingRightsDoNotApply
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CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2024Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-96300000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
55100000 usd
CY2024Q1 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
1000000.0 usd
CY2023Q1 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
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CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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59500000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1475300000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1418200000 usd
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
21100000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
37800000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
182500000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y11M8D
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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453200000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
300000 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
800000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
453500000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2024Q1 ivz Undrawn Capital Commitments
UndrawnCapitalCommitments
664600000 usd
CY2023Q4 ivz Undrawn Capital Commitments
UndrawnCapitalCommitments
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CY2024Q1 ivz Net Interests In Consolidated Investment Products
NetInterestsInConsolidatedInvestmentProducts
521900000 usd
CY2023Q4 ivz Net Interests In Consolidated Investment Products
NetInterestsInConsolidatedInvestmentProducts
546200000 usd
CY2024Q1 ivz Variable Interest Entity Reporting Entity Involvement Unfunded Capital Commitments Amount
VariableInterestEntityReportingEntityInvolvementUnfundedCapitalCommitmentsAmount
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CY2023Q4 ivz Variable Interest Entity Reporting Entity Involvement Unfunded Capital Commitments Amount
VariableInterestEntityReportingEntityInvolvementUnfundedCapitalCommitmentsAmount
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CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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