2024 Q3 Form 10-Q Financial Statement

#000104360424000144 Filed on July 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.331B $1.190B
YoY Change -4.78% -16.82%
Cost Of Revenue $557.6M $501.1M
YoY Change -5.07% -18.78%
Gross Profit $773.4M $688.5M
YoY Change -4.57% -15.32%
Gross Profit Margin 58.11% 57.88%
Selling, General & Admin $370.3M $358.2M
YoY Change -0.4% -4.1%
% of Gross Profit 47.88% 52.03%
Research & Development $290.6M $274.6M
YoY Change 0.73% -2.62%
% of Gross Profit 37.57% 39.88%
Depreciation & Amortization $37.40M $38.00M
YoY Change -23.52% -22.61%
% of Gross Profit 4.84% 5.52%
Operating Expenses $679.3M $643.5M
YoY Change -6.02% -1.83%
Operating Profit $94.10M $45.00M
YoY Change 7.42% -71.45%
Interest Expense $4.400M $700.0K
YoY Change -78.54% -100.71%
% of Operating Profit 4.68% 1.56%
Other Income/Expense, Net $2.300M $1.300M
YoY Change -147.92% -316.67%
Pretax Income $96.90M $47.00M
YoY Change 17.03% 13.25%
Income Tax $2.100M $10.80M
% Of Pretax Income 2.17% 22.98%
Net Earnings $92.60M $34.10M
YoY Change 21.68% 39.75%
Net Earnings / Revenue 6.96% 2.87%
Basic Earnings Per Share $0.28 $0.10
Diluted Earnings Per Share $0.28 $0.10
COMMON SHARES
Basic Shares Outstanding 329.2M shares 325.0M shares
Diluted Shares Outstanding 335.9M shares 332.7M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.232B $1.122B
YoY Change -10.56% -9.11%
Cash & Equivalents $1.065B $935.0M
Short-Term Investments $166.7M $186.7M
Other Short-Term Assets $184.6M $138.6M
YoY Change 68.43% -79.7%
Inventory $872.5M $926.1M
Prepaid Expenses $127.5M $178.7M
Receivables $958.1M $878.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.526B $3.444B
YoY Change -8.93% -8.18%
LONG-TERM ASSETS
Property, Plant & Equipment $684.9M $685.2M
YoY Change -0.42% -15.76%
Goodwill $3.734B $3.734B
YoY Change 0.0% 0.0%
Intangibles $53.10M $63.80M
YoY Change -51.28% -49.45%
Long-Term Investments $331.2M $308.6M
YoY Change 395.35%
Other Assets $1.118B $1.045B
YoY Change 32.89% 17.68%
Total Long-Term Assets $6.070B $5.984B
YoY Change 9.7% 6.39%
TOTAL ASSETS
Total Short-Term Assets $3.526B $3.444B
Total Long-Term Assets $6.070B $5.984B
Total Assets $9.596B $9.428B
YoY Change 2.03% 0.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $258.0M $268.3M
YoY Change -20.47% -27.84%
Accrued Expenses $672.0M $627.4M
YoY Change -23.18% -26.4%
Deferred Revenue $1.118B $1.148B
YoY Change 7.76% 10.6%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.048B $2.044B
YoY Change -8.44% -9.66%
LONG-TERM LIABILITIES
Long-Term Debt $1.633B $1.607B
YoY Change 2.78% 0.29%
Other Long-Term Liabilities $116.9M $140.6M
YoY Change -24.14% -87.84%
Total Long-Term Liabilities $1.750B $1.748B
YoY Change 0.4% -36.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.048B $2.044B
Total Long-Term Liabilities $1.750B $1.748B
Total Liabilities $4.953B $4.926B
YoY Change -2.38% -1.88%
SHAREHOLDERS EQUITY
Retained Earnings -$2.181B -$2.273B
YoY Change -9.88% -6.31%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.643B $4.502B
YoY Change
Total Liabilities & Shareholders Equity $9.596B $9.428B
YoY Change 2.03% 0.56%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $92.60M $34.10M
YoY Change 21.68% 39.75%
Depreciation, Depletion And Amortization $37.40M $38.00M
YoY Change -23.52% -22.61%
Cash From Operating Activities $192.2M -$8.900M
YoY Change -41.62% -102.59%
INVESTING ACTIVITIES
Capital Expenditures $30.10M $23.40M
YoY Change -26.23% -43.07%
Acquisitions
YoY Change
Other Investing Activities $7.400M -$30.60M
YoY Change -79.95% -157.09%
Cash From Investing Activities -$22.70M -$54.00M
YoY Change 482.05% -532.0%
FINANCING ACTIVITIES
Cash Dividend Paid $72.70M
YoY Change 3.86%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -44.90M -70.10M
YoY Change -72.85% -63.24%
NET CHANGE
Cash From Operating Activities 192.2M -8.900M
Cash From Investing Activities -22.70M -54.00M
Cash From Financing Activities -44.90M -70.10M
Net Change In Cash 124.6M -133.0M
YoY Change -22.08% -180.7%
FREE CASH FLOW
Cash From Operating Activities $192.2M -$8.900M
Capital Expenditures $30.10M $23.40M
Free Cash Flow $162.1M -$32.30M
YoY Change -43.79% -110.7%

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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the financial statements and related disclosures in accordance with U.S. GAAP requires the Company to make judgments, assumptions, and estimates that affect the amounts reported in the Condensed Consolidated Financial Statements and the accompanying notes. Actual results could differ materially from those estimates under different assumptions or conditions.</span></div>
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