2024 Q1 Form 10-K Financial Statement

#000005578524000018 Filed on February 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $5.100B $4.970B $20.43B
YoY Change -1.92% 0.12% 1.27%
Cost Of Revenue $3.238B $3.233B $13.38B
YoY Change -6.66% -3.12% -4.1%
Gross Profit $1.911B $1.737B $7.047B
YoY Change 10.72% 6.76% 13.31%
Gross Profit Margin 37.47% 34.95% 34.49%
Selling, General & Admin $994.0M $993.0M $3.946B
YoY Change 7.58% 8.41% 10.19%
% of Gross Profit 52.01% 57.17% 56.0%
Research & Development $312.0M
YoY Change 6.85%
% of Gross Profit 4.43%
Depreciation & Amortization $185.0M $187.0M $753.0M
YoY Change -1.6% 0.54% -0.13%
% of Gross Profit 9.68% 10.77% 10.69%
Operating Expenses $1.013B $1.067B $4.089B
YoY Change 7.88% 16.61% 15.57%
Operating Profit $853.0M $670.0M $2.958B
YoY Change 8.39% -5.9% 10.33%
Interest Expense $67.00M -$38.00M -$227.0M
YoY Change -8.22% -44.93% -15.3%
% of Operating Profit 7.85% -5.67% -7.67%
Other Income/Expense, Net -$15.00M -$14.00M -$61.00M
YoY Change -6.25% -41.67% -16.44%
Pretax Income $781.0M $614.0M $2.021B
YoY Change 10.78% -0.81% -13.63%
Income Tax $184.0M $155.0M $453.0M
% Of Pretax Income 23.56% 25.24% 22.41%
Net Earnings $647.0M $509.0M $1.764B
YoY Change 14.31% 0.39% -8.79%
Net Earnings / Revenue 12.69% 10.24% 8.63%
Basic Earnings Per Share $1.92 $5.22
Diluted Earnings Per Share $1.91 $1.50 $5.21
COMMON SHARES
Basic Shares Outstanding 336.9M shares 337.9M shares 337.8M shares
Diluted Shares Outstanding 338.3M shares 338.8M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $853.0M $1.093B $1.093B
YoY Change 62.79% 155.97% 155.97%
Cash & Equivalents $853.0M $1.093B $1.093B
Short-Term Investments
Other Short-Term Assets $487.0M $520.0M $520.0M
YoY Change -27.64% -30.94% -30.94%
Inventory $1.877B $1.955B $1.955B
Prepaid Expenses
Receivables $2.383B $2.135B $2.135B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.600B $5.703B $5.703B
YoY Change -4.29% -0.45% -0.45%
LONG-TERM ASSETS
Property, Plant & Equipment $7.772B $7.913B $7.913B
YoY Change -1.2% 0.36% 0.36%
Goodwill $2.043B $2.085B
YoY Change -2.25% 0.53%
Intangibles $197.0M
YoY Change -76.85%
Long-Term Investments $364.0M $306.0M $306.0M
YoY Change 29.54% 28.57% 28.57%
Other Assets $1.123B $1.140B $1.140B
YoY Change -8.03% -4.44% -4.44%
Total Long-Term Assets $11.49B $11.64B $11.64B
YoY Change -6.77% -4.9% -4.9%
TOTAL ASSETS
Total Short-Term Assets $5.600B $5.703B $5.703B
Total Long-Term Assets $11.49B $11.64B $11.64B
Total Assets $17.09B $17.34B $17.34B
YoY Change -5.97% -3.48% -3.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.531B $3.653B $3.653B
YoY Change -6.78% -4.2% -4.2%
Accrued Expenses $2.131B $2.316B $2.316B
YoY Change -10.31% 1.18% 1.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $809.0M $567.0M $567.0M
YoY Change 50.93% -32.82% -32.82%
Total Short-Term Liabilities $6.878B $6.930B $6.930B
YoY Change -3.04% -5.51% -5.51%
LONG-TERM LIABILITIES
Long-Term Debt $7.187B $7.443B $7.443B
YoY Change -11.87% -5.02% -5.02%
Other Long-Term Liabilities $796.0M $1.529B $1.529B
YoY Change -1.73% 5.23% 5.23%
Total Long-Term Liabilities $796.0M $8.972B $8.972B
YoY Change -1.73% -3.41% -3.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.878B $6.930B $6.930B
Total Long-Term Liabilities $796.0M $8.972B $8.972B
Total Liabilities $7.674B $16.43B $16.43B
YoY Change -2.91% -5.71% -5.71%
SHAREHOLDERS EQUITY
Retained Earnings $8.601B $8.368B
YoY Change 2.82% 2.04%
Common Stock $473.0M $473.0M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.252B $5.222B
YoY Change 1.92% 1.65%
Treasury Stock Shares
Shareholders Equity $1.044B $915.0M $915.0M
YoY Change
Total Liabilities & Shareholders Equity $17.09B $17.34B $17.34B
YoY Change -5.97% -3.48% -3.48%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $647.0M $509.0M $1.764B
YoY Change 14.31% 0.39% -8.79%
Depreciation, Depletion And Amortization $185.0M $187.0M $753.0M
YoY Change -1.6% 0.54% -0.13%
Cash From Operating Activities $438.0M $1.215B $3.542B
YoY Change -28.55% 22.6% 29.6%
INVESTING ACTIVITIES
Capital Expenditures $194.0M $217.0M $766.0M
YoY Change -3.48% -210.15% -187.44%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $9.000M $65.00M $348.0M
YoY Change -325.0% -191.55% 282.42%
Cash From Investing Activities -$181.0M -$152.0M -$418.0M
YoY Change 57.39% -43.28% -46.75%
FINANCING ACTIVITIES
Cash Dividend Paid $1.588B
YoY Change 1.93%
Common Stock Issuance & Retirement, Net -$128.0M
YoY Change 2033.33%
Debt Paid & Issued, Net $475.0M
YoY Change 52.24%
Cash From Financing Activities -$485.0M -754.0M -2.374B
YoY Change 22.17% 15.82% 34.89%
NET CHANGE
Cash From Operating Activities $438.0M 1.215B 3.542B
Cash From Investing Activities -$181.0M -152.0M -418.0M
Cash From Financing Activities -$485.0M -754.0M -2.374B
Net Change In Cash -$240.0M 309.0M 750.0M
YoY Change -347.42% 329.17% 298.94%
FREE CASH FLOW
Cash From Operating Activities $438.0M $1.215B $3.542B
Capital Expenditures $194.0M $217.0M $766.0M
Free Cash Flow $244.0M $998.0M $2.776B
YoY Change -40.78% -15.99% -23.08%

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