2023 Q1 Form 10-Q Financial Statement

#000160104623000015 Filed on March 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $1.381B $1.443B
YoY Change 10.48% 11.51%
Cost Of Revenue $498.0M $533.0M
YoY Change 11.66% 16.63%
Gross Profit $883.0M $910.0M
YoY Change 9.83% 8.72%
Gross Profit Margin 63.94% 63.06%
Selling, General & Admin $338.0M $321.0M
YoY Change 3.68% 8.81%
% of Gross Profit 38.28% 35.27%
Research & Development $227.0M $215.0M
YoY Change 8.1% 9.69%
% of Gross Profit 25.71% 23.63%
Depreciation & Amortization $29.00M $55.00M
YoY Change -3.33% -3.51%
% of Gross Profit 3.28% 6.04%
Operating Expenses $565.0M $531.0M
YoY Change 5.41% 8.81%
Operating Profit $322.0M $379.0M
YoY Change 18.82% 8.6%
Interest Expense $19.00M -$10.00M
YoY Change -5.0% -47.37%
% of Operating Profit 5.9% -2.64%
Other Income/Expense, Net $9.000M -$1.000M
YoY Change -25.0% -114.29%
Pretax Income $331.0M $368.0M
YoY Change 25.38% 9.2%
Income Tax $71.00M $69.00M
% Of Pretax Income 21.45% 18.75%
Net Earnings $260.0M $299.0M
YoY Change 13.54% 6.03%
Net Earnings / Revenue 18.83% 20.72%
Basic Earnings Per Share $1.46
Diluted Earnings Per Share $1.45 $1.661M
COMMON SHARES
Basic Shares Outstanding 178.0M shares 178.8M shares
Diluted Shares Outstanding 180.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.228B $2.042B
YoY Change 12.7% -0.49%
Cash & Equivalents $2.228B $2.042B
Short-Term Investments
Other Short-Term Assets $146.0M $429.0M
YoY Change -54.23% 58.89%
Inventory $909.0M $858.0M
Prepaid Expenses $295.0M $280.0M
Receivables $920.0M $905.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.498B $4.234B
YoY Change 18.12% 10.43%
LONG-TERM ASSETS
Property, Plant & Equipment $728.0M $910.0M
YoY Change 8.33% 40.0%
Goodwill $1.611B $1.582B
YoY Change -0.74% -2.83%
Intangibles $166.0M $189.0M
YoY Change -33.6% -30.51%
Long-Term Investments $75.00M $62.00M
YoY Change 15.38% -11.43%
Other Assets $469.0M $1.121B
YoY Change 18.14% 188.17%
Total Long-Term Assets $3.950B $3.864B
YoY Change 0.77% -2.1%
TOTAL ASSETS
Total Short-Term Assets $4.498B $4.234B
Total Long-Term Assets $3.950B $3.864B
Total Assets $8.448B $8.098B
YoY Change 9.32% 4.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $325.0M $348.0M
YoY Change 10.54% 21.25%
Accrued Expenses $422.0M $468.0M
YoY Change 10.47% -0.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $1.465B $1.407B
YoY Change 16.55% 7.49%
LONG-TERM LIABILITIES
Long-Term Debt $1.793B $1.793B
YoY Change 0.11% 0.11%
Other Long-Term Liabilities $322.0M $737.0M
YoY Change -6.12% 109.38%
Total Long-Term Liabilities $2.115B $2.530B
YoY Change -0.89% 18.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.465B $1.407B
Total Long-Term Liabilities $2.115B $2.530B
Total Liabilities $4.044B $3.937B
YoY Change 3.22% -1.5%
SHAREHOLDERS EQUITY
Retained Earnings $4.814B $4.554B
YoY Change 31.57% 32.77%
Common Stock $2.000M $2.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.399B $2.274B
YoY Change 47.09% 59.58%
Treasury Stock Shares 21.20M shares 20.50M shares
Shareholders Equity $4.404B $4.161B
YoY Change
Total Liabilities & Shareholders Equity $8.448B $8.098B
YoY Change 9.32% 4.07%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $260.0M $299.0M
YoY Change 13.54% 6.03%
Depreciation, Depletion And Amortization $29.00M $55.00M
YoY Change -3.33% -3.51%
Cash From Operating Activities $366.0M $398.0M
YoY Change 63.39% 8.15%
INVESTING ACTIVITIES
Capital Expenditures $60.00M -$58.00M
YoY Change 42.86% -20.55%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $0.00 -$3.000M
YoY Change -100.0% -92.86%
Cash From Investing Activities -$60.00M -$61.00M
YoY Change 22.45% -46.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $125.0M -$126.0M
YoY Change -39.32%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$139.0M -127.0M
YoY Change -43.72% -64.12%
NET CHANGE
Cash From Operating Activities $366.0M 398.0M
Cash From Investing Activities -$60.00M -61.00M
Cash From Financing Activities -$139.0M -127.0M
Net Change In Cash $187.0M 210.0M
YoY Change -346.05% -307.92%
FREE CASH FLOW
Cash From Operating Activities $366.0M $398.0M
Capital Expenditures $60.00M -$58.00M
Free Cash Flow $306.0M $456.0M
YoY Change 68.13% 3.4%

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. This tax year pre-dates our separation from Agilent. However, pursuant to the agreement between Agilent and Keysight pertaining to tax matters, as finalized at the time of separation, for certain entities, including Malaysia, any historical tax liability is the responsibility of Keysight.
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CY2023Q1 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
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CY2023Q1 us-gaap Loss Contingency Accrual Payments
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CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
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CY2022Q1 us-gaap Treasury Stock Shares Acquired
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CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
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CY2023Q1 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
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CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2023Q1 us-gaap Number Of Reportable Segments
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CY2023Q1 us-gaap Revenues
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CY2022Q1 us-gaap Revenues
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
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CY2023Q1 keys Amortizationofacquisitionrelatedbalances
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CY2022Q1 keys Amortizationofacquisitionrelatedbalances
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CY2023Q1 us-gaap Business Combination Acquisition Related Costs
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CY2022Q1 us-gaap Business Combination Acquisition Related Costs
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CY2023Q1 keys Segment Reporting Other Reconciling Items For Operating Profit Loss Segment To Consolidated
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CY2022Q1 keys Segment Reporting Other Reconciling Items For Operating Profit Loss Segment To Consolidated
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CY2023Q1 us-gaap Operating Income Loss
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CY2022Q1 us-gaap Operating Income Loss
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CY2023Q1 us-gaap Investment Income Interest
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CY2022Q1 us-gaap Investment Income Interest
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CY2023Q1 us-gaap Interest Expense Deposits
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CY2022Q1 us-gaap Interest Expense Deposits
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CY2023Q1 us-gaap Other Nonoperating Gains Losses
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CY2022Q1 us-gaap Other Nonoperating Gains Losses
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CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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331000000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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264000000 usd

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keys-20230131_lab.xml Edgar Link unprocessable
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0001601046-23-000015-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
keys-01312023xex311.htm Edgar Link pending
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keys-20230131.xsd Edgar Link pending
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keys-20230131_cal.xml Edgar Link unprocessable
keys-20230131_def.xml Edgar Link unprocessable
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