2024 Q1 Form 10-K Financial Statement

#000020040624000013 Filed on February 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q1
Revenue $21.40B $21.35B $23.71B
YoY Change -9.75% -10.26% -4.43%
Cost Of Revenue $6.798B $6.606B $7.765B
YoY Change -12.45% -15.38% -2.39%
Gross Profit $14.60B $14.75B $15.94B
YoY Change -8.43% -7.75% -5.39%
Gross Profit Margin 68.23% 69.06% 67.24%
Selling, General & Admin $5.810B $5.400B $6.512B
YoY Change -10.78% -11.32% -8.97%
% of Gross Profit 39.8% 36.62% 40.85%
Research & Development $4.480B $3.447B $3.841B
YoY Change 16.64% -4.17% -18.62%
% of Gross Profit 30.69% 23.38% 24.1%
Depreciation & Amortization $1.815B $1.829B $1.772B
YoY Change 2.43% 8.55% -3.85%
% of Gross Profit 12.43% 12.4% 11.12%
Operating Expenses $9.869B $8.847B $11.56B
YoY Change -14.63% -13.09% 5.74%
Operating Profit $4.728B $5.898B $4.381B
YoY Change 7.92% 1.6% -25.96%
Interest Expense $212.0M $192.0M $77.00M
YoY Change 175.32% 93.94% -49.67%
% of Operating Profit 4.48% 3.26% 1.76%
Other Income/Expense, Net -$2.404B -$499.0M
YoY Change 1.22%
Pretax Income $4.826B $5.217B $4.201B
YoY Change 14.88% -10.39% -13.13%
Income Tax $694.0M $908.0M $681.0M
% Of Pretax Income 14.38% 17.4% 16.21%
Net Earnings $4.049B $26.03B $3.520B
YoY Change 15.03% 483.85% -25.68%
Net Earnings / Revenue 18.92% 121.91% 14.85%
Basic Earnings Per Share $1.35 $10.32 $1.35
Diluted Earnings Per Share $1.66 $10.21 $1.328M
COMMON SHARES
Basic Shares Outstanding 2.409B shares 2.523B shares 2.604B shares
Diluted Shares Outstanding 2.430B shares 2.550B shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.22B $23.51B $23.52B
YoY Change 11.48% -31.01% -25.59%
Cash & Equivalents $25.47B $19.73B $14.13B
Short-Term Investments $18.99B $16.79B $13.23B
Other Short-Term Assets $4.455B $4.196B $3.132B
YoY Change 42.24% 16.82% -15.37%
Inventory $11.38B $11.20B $12.48B
Prepaid Expenses
Receivables $14.95B $14.80B $16.16B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $57.00B $53.70B $55.29B
YoY Change 3.09% -17.68% -9.32%
LONG-TERM ASSETS
Property, Plant & Equipment $19.63B $18.82B $19.80B
YoY Change -0.86% 3.69% 4.44%
Goodwill $36.62B $36.12B $45.23B
YoY Change -19.05% 8.21% 28.33%
Intangibles $34.29B $35.02B $48.33B
YoY Change -29.05% -13.18% 4.17%
Long-Term Investments $4.486B $4.023B $576.0M
YoY Change 678.82% 113.54% -69.43%
Other Assets $14.13B $13.13B $9.602B
YoY Change 47.1% 52.27% -6.01%
Total Long-Term Assets $115.0B $112.4B $132.1B
YoY Change -12.96% 2.25% 9.13%
TOTAL ASSETS
Total Short-Term Assets $57.00B $53.70B $55.29B
Total Long-Term Assets $115.0B $112.4B $132.1B
Total Assets $172.0B $166.1B $187.4B
YoY Change -8.23% -5.18% 2.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.174B $8.355B $11.70B
YoY Change -30.15% -17.71% 5.86%
Accrued Expenses $10.32B $10.10B $11.46B
YoY Change -9.89% -15.49% -15.84%
Deferred Revenue
YoY Change
Short-Term Debt $8.550B $3.870B $12.77B
YoY Change -33.05% -12.52% 239.11%
Long-Term Debt Due $2.250B $1.870B $1.551B
YoY Change 45.07% 256.87% -27.22%
Total Short-Term Liabilities $48.73B $44.37B $55.80B
YoY Change -12.68% -2.58% 23.38%
LONG-TERM LIABILITIES
Long-Term Debt $25.08B $26.05B $26.89B
YoY Change -6.72% -5.62% -10.33%
Other Long-Term Liabilities $15.07B $13.56B $10.44B
YoY Change 44.36% 36.74% -2.33%
Total Long-Term Liabilities $40.15B $39.61B $37.33B
YoY Change 7.57% 5.58% -8.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.73B $44.37B $55.80B
Total Long-Term Liabilities $40.15B $39.61B $37.33B
Total Liabilities $101.9B $94.83B $110.6B
YoY Change -7.8% -5.66% 2.39%
SHAREHOLDERS EQUITY
Retained Earnings $153.4B $152.5B $128.3B
YoY Change 19.5% 19.25% 4.29%
Common Stock $3.120B $3.120B $3.120B
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $75.66B $41.69B
YoY Change 83.89% 6.64%
Treasury Stock Shares 506.2M shares
Shareholders Equity $70.02B $71.23B $76.80B
YoY Change
Total Liabilities & Shareholders Equity $172.0B $166.1B $187.4B
YoY Change -8.23% -5.18% 2.94%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q1
OPERATING ACTIVITIES
Net Income $4.049B $26.03B $3.520B
YoY Change 15.03% 483.85% -25.68%
Depreciation, Depletion And Amortization $1.815B $1.829B $1.772B
YoY Change 2.43% 8.55% -3.85%
Cash From Operating Activities $3.657B $7.489B $5.350B
YoY Change -31.64% 19.18% -6.66%
INVESTING ACTIVITIES
Capital Expenditures $807.0M $967.0M $1.587B
YoY Change -49.15% -201.58% -212.16%
Acquisitions $1.811B
YoY Change
Other Investing Activities $5.000M $3.508B -$2.810B
YoY Change -100.18% -568.36% -28.77%
Cash From Investing Activities -$464.0M $2.541B -$4.397B
YoY Change -89.45% -249.38% -17.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.000M
YoY Change
Cash From Financing Activities $546.0M -11.32B 1.700B
YoY Change -67.88% 188.33% -149.48%
NET CHANGE
Cash From Operating Activities $3.657B 7.489B 5.350B
Cash From Investing Activities -$464.0M 2.541B -4.397B
Cash From Financing Activities $546.0M -11.32B 1.700B
Net Change In Cash $3.614B -1.287B 2.653B
YoY Change 36.22% -295.59% -186.59%
FREE CASH FLOW
Cash From Operating Activities $3.657B $7.489B $5.350B
Capital Expenditures $807.0M $967.0M $1.587B
Free Cash Flow $2.850B $6.522B $3.763B
YoY Change -24.26% -9.87% -47.35%

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