$KD
Kyndryl Holdings, Inc.

2023 Q3 Form 10-Q Financial Statement

#000155837023013935 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $4.073B $4.193B $4.288B
YoY Change -2.54% -2.22% -9.75%
Cost Of Revenue $3.422B $3.449B $3.677B
YoY Change -5.29% -6.2% -12.97%
Gross Profit $651.0M $744.0M $611.0M
YoY Change 15.02% 21.77% 16.16%
Gross Profit Margin 15.98% 17.74% 14.25%
Selling, General & Admin $634.0M $778.0M $698.0M
YoY Change -10.2% 11.46% -13.08%
% of Gross Profit 97.39% 104.57% 114.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $220.0M $218.0M $242.0M
YoY Change -0.45% -9.92% -72.18%
% of Gross Profit 33.79% 29.3% 39.61%
Operating Expenses $634.0M $782.0M $693.0M
YoY Change -10.2% 12.84% -16.51%
Operating Profit $17.00M -$38.00M -$82.00M
YoY Change -112.14% -53.66% -73.03%
Interest Expense $31.00M -$29.00M -$20.00M
YoY Change 63.16% 45.0% 33.33%
% of Operating Profit 182.35%
Other Income/Expense, Net
YoY Change
Pretax Income -$109.0M -$109.0M -$205.0M
YoY Change -50.23% -46.83% -35.74%
Income Tax $33.00M $32.00M $45.00M
% Of Pretax Income
Net Earnings -$142.0M -$141.0M -$250.0M
YoY Change -49.47% -43.6% -36.39%
Net Earnings / Revenue -3.49% -3.36% -5.83%
Basic Earnings Per Share -$0.62 -$0.62 -$1.11
Diluted Earnings Per Share -$0.62 -$0.62 -$1.110M
COMMON SHARES
Basic Shares Outstanding 228.9M 227.8M 225.3M
Diluted Shares Outstanding 229.1M 227.9M 225.3M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.408B $1.507B $1.871B
YoY Change -25.42% -19.45% 6351.72%
Cash & Equivalents $1.408B $1.507B $1.871B
Short-Term Investments
Other Short-Term Assets $1.487B $1.625B $1.600B
YoY Change 1.23% 1.56% 14.53%
Inventory
Prepaid Expenses
Receivables $1.663B $1.521B $1.933B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.593B $4.653B $5.404B
YoY Change -7.47% -13.9% 73.48%
LONG-TERM ASSETS
Property, Plant & Equipment $2.646B $3.682B $3.824B
YoY Change 2.08% -3.71% -19.61%
Goodwill $806.0M $807.0M
YoY Change -0.62%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $158.0M $1.657B $2.107B
YoY Change -53.25% -21.36% 9.06%
Total Long-Term Assets $6.009B $6.333B $6.900B
YoY Change -9.84% -8.22% -13.22%
TOTAL ASSETS
Total Short-Term Assets $4.593B $4.653B $5.404B
Total Long-Term Assets $6.009B $6.333B $6.900B
Total Assets $10.60B $10.99B $12.30B
YoY Change -8.83% -10.71% 11.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.246B $1.626B $1.486B
YoY Change -21.83% 9.42% 85.06%
Accrued Expenses $509.0M $1.687B $1.982B
YoY Change 16.74% -14.88% 4.26%
Deferred Revenue
YoY Change
Short-Term Debt $121.0M $0.00 $0.00
YoY Change
Long-Term Debt Due $121.0M $134.0M $93.00M
YoY Change 24.74% 44.09% -14.68%
Total Short-Term Liabilities $4.485B $4.591B $4.609B
YoY Change -2.05% -0.39% 22.84%
LONG-TERM LIABILITIES
Long-Term Debt $3.000B $3.149B $3.107B
YoY Change 0.0% 1.35% 990.18%
Other Long-Term Liabilities $423.0M $1.908B $2.377B
YoY Change -2.31% -19.73% 10.35%
Total Long-Term Liabilities $3.423B $5.057B $5.484B
YoY Change -0.29% -7.79% 124.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.485B $4.591B $4.609B
Total Long-Term Liabilities $3.423B $5.057B $5.484B
Total Liabilities $9.489B $9.747B $10.19B
YoY Change -3.98% -4.33% 63.16%
SHAREHOLDERS EQUITY
Retained Earnings -$2.262B -$2.120B
YoY Change 99.12%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.013B $1.239B $2.116B
YoY Change
Total Liabilities & Shareholders Equity $10.60B $10.99B $12.30B
YoY Change -8.83% -10.71% 11.19%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$142.0M -$141.0M -$250.0M
YoY Change -49.47% -43.6% -36.39%
Depreciation, Depletion And Amortization $220.0M $218.0M $242.0M
YoY Change -0.45% -9.92% -72.18%
Cash From Operating Activities $46.00M -$173.0M $104.0M
YoY Change -76.88% -266.35% -121.27%
INVESTING ACTIVITIES
Capital Expenditures $175.0M $100.0M -$213.0M
YoY Change -339.73% -146.95% -47.67%
Acquisitions
YoY Change
Other Investing Activities $80.00M -$13.00M -$5.000M
YoY Change 160.0% -105.21%
Cash From Investing Activities -$95.00M -$113.0M -$218.0M
YoY Change 30.14% -48.17% -29.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$13.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -42.00M -38.00M -41.00M
YoY Change -380.0% -7.32% -105.08%
NET CHANGE
Cash From Operating Activities 46.00M -173.0M 104.0M
Cash From Investing Activities -95.00M -113.0M -218.0M
Cash From Financing Activities -42.00M -38.00M -41.00M
Net Change In Cash -91.00M -324.0M -155.0M
YoY Change -164.54% 109.03% -2314.29%
FREE CASH FLOW
Cash From Operating Activities $46.00M -$173.0M $104.0M
Capital Expenditures $175.0M $100.0M -$213.0M
Free Cash Flow -$129.0M -$273.0M $317.0M
YoY Change -147.43% -186.12% -486.59%

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CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
68000000
CY2023Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
80000000
CY2023Q2 kd Restructuring Charges Non Cash Adjustments
RestructuringChargesNonCashAdjustments
-7000000
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
39000000

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