2023 Q1 Form 10-K Financial Statement

#000002134423000011 Filed on February 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $10.98B $10.13B $43.00B
YoY Change 0.83% 11.25%
Cost Of Revenue $4.317B $4.513B $18.00B
YoY Change 13.48% 17.21%
Gross Profit $6.663B $5.612B $25.00B
YoY Change -7.47% 7.32%
Gross Profit Margin 60.68% 55.43% 58.14%
Selling, General & Admin $3.185B $3.431B $12.88B
YoY Change 9.9% 6.06%
% of Gross Profit 47.8% 61.14% 51.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $286.0M $307.0M $1.260B
YoY Change -15.19% -13.22%
% of Gross Profit 4.29% 5.47% 5.04%
Operating Expenses $3.185B $3.426B $12.88B
YoY Change 9.74% 6.06%
Operating Profit $3.367B $2.186B $10.91B
YoY Change -24.57% 5.83%
Interest Expense $372.0M $248.0M $882.0M
YoY Change 18.1% -44.77%
% of Operating Profit 11.05% 11.34% 8.09%
Other Income/Expense, Net $615.0M $343.0M -$262.0M
YoY Change -283.42% -113.1%
Pretax Income $4.053B $2.500B $11.69B
YoY Change -18.94% -5.95%
Income Tax $940.0M $444.0M $2.115B
% Of Pretax Income 23.19% 17.76% 18.1%
Net Earnings $3.107B $2.031B $9.542B
YoY Change -17.81% -2.34%
Net Earnings / Revenue 28.3% 20.06% 22.19%
Basic Earnings Per Share $0.72 $2.20
Diluted Earnings Per Share $0.72 $0.47 $2.19
COMMON SHARES
Basic Shares Outstanding 4.327B shares 4.325B shares 4.328B shares
Diluted Shares Outstanding 4.345B shares 4.350B shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.13B $10.59B $11.63B
YoY Change -6.98% -7.87%
Cash & Equivalents $12.00B $9.519B $9.519B
Short-Term Investments $1.125B $1.069B $2.112B
Other Short-Term Assets $3.259B $3.240B $3.240B
YoY Change 40.87% 8.22%
Inventory $4.727B $4.233B $4.233B
Prepaid Expenses
Receivables $4.599B $3.487B $3.487B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $26.88B $22.59B $22.59B
YoY Change 0.2% 0.2%
LONG-TERM ASSETS
Property, Plant & Equipment $9.848B $9.841B $11.25B
YoY Change -0.8% -0.8%
Goodwill $18.68B $18.78B
YoY Change -3.0%
Intangibles $14.28B $14.21B
YoY Change -1.74%
Long-Term Investments $18.74B $18.26B $18.77B
YoY Change 3.78% 1.9%
Other Assets $6.324B $6.189B $6.529B
YoY Change -8.05% -12.27%
Total Long-Term Assets $70.52B $70.17B $70.17B
YoY Change -2.28% -2.28%
TOTAL ASSETS
Total Short-Term Assets $26.88B $22.59B $22.59B
Total Long-Term Assets $70.52B $70.17B $70.17B
Total Assets $97.40B $92.76B $92.76B
YoY Change -1.69% -1.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.59B $15.59B $5.147B
YoY Change 21.5% 11.84%
Accrued Expenses $9.508B
YoY Change 6.84%
Deferred Revenue
YoY Change
Short-Term Debt $5.455B $2.373B $2.373B
YoY Change -28.24% -28.24%
Long-Term Debt Due $811.0M $399.0M $399.0M
YoY Change -70.18% -70.18%
Total Short-Term Liabilities $23.36B $19.72B $19.72B
YoY Change -1.13% -1.13%
LONG-TERM LIABILITIES
Long-Term Debt $36.13B $36.38B $36.38B
YoY Change -4.56% -4.56%
Other Long-Term Liabilities $7.874B $7.922B $7.922B
YoY Change -7.96% -7.96%
Total Long-Term Liabilities $44.01B $44.30B $44.30B
YoY Change -5.19% -5.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.36B $19.72B $19.72B
Total Long-Term Liabilities $44.01B $44.30B $44.30B
Total Liabilities $67.37B $64.02B $68.66B
YoY Change -3.97% -3.78%
SHAREHOLDERS EQUITY
Retained Earnings $72.14B $71.02B
YoY Change 2.79%
Common Stock $20.65B $20.58B
YoY Change 3.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $53.25B $52.60B
YoY Change 1.86%
Treasury Stock Shares 2.715B shares 2.712B shares
Shareholders Equity $25.22B $24.11B $24.11B
YoY Change
Total Liabilities & Shareholders Equity $97.40B $92.76B $92.76B
YoY Change -1.69% -1.69%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $3.107B $2.031B $9.542B
YoY Change -17.81% -2.34%
Depreciation, Depletion And Amortization $286.0M $307.0M $1.260B
YoY Change -15.19% -13.22%
Cash From Operating Activities $160.0M $2.950B $11.02B
YoY Change -20.4% -12.73%
INVESTING ACTIVITIES
Capital Expenditures $276.0M $708.0M $1.484B
YoY Change -354.68% 8.56%
Acquisitions
YoY Change
Other Investing Activities $21.00M $2.134B -$706.0M
YoY Change 380.63% 1284.31%
Cash From Investing Activities $117.0M $1.426B -$763.0M
YoY Change 759.04% -72.41%
FINANCING ACTIVITIES
Cash Dividend Paid $101.0M $7.616B
YoY Change 5.02%
Common Stock Issuance & Retirement, Net $581.0M
YoY Change -198.31%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.065B -5.172B -$10.25B
YoY Change 217.5% 51.05%
NET CHANGE
Cash From Operating Activities $160.0M 2.950B $11.02B
Cash From Investing Activities $117.0M 1.426B -$763.0M
Cash From Financing Activities $2.065B -5.172B -$10.25B
Net Change In Cash $2.455B -796.0M -$200.0M
YoY Change -135.49% -106.86%
FREE CASH FLOW
Cash From Operating Activities $160.0M $2.950B $11.02B
Capital Expenditures $276.0M $708.0M $1.484B
Free Cash Flow -$116.0M $2.242B $9.534B
YoY Change -43.72% -15.31%

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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
42.43
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
52.96
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
45.93
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y7M6D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1030000000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
42.20
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2022Q4 ko Share Based Compensation Arrangement By Share Based Payment Award Performance Share Unit Threshold Award Level Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformanceShareUnitThresholdAwardLevelNonvestedNumber
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CY2022Q4 ko Share Based Compensation Arrangement By Share Based Payment Award Performance Share Unit Maximun Award Level Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformanceShareUnitMaximunAwardLevelNonvestedNumber
8486000 shares
CY2022Q4 ko Corridor Approachfor Amortizing Actuarial Gainsand Losses
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CY2022Q4 ko Minimum Interest Crediting Rate
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CY2022 ko Period Of Time Current Interest Crediting Rate Will Converge With Ultimate Interest Crediting Rate
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10 y
CY2022Q4 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
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0.0825
CY2021Q4 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear
0.0675
CY2022Q4 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
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CY2021Q4 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
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CY2022 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2030
CY2021 us-gaap Defined Benefit Plan Year Health Care Cost Trend Rate Reaches Ultimate Trend Rate
DefinedBenefitPlanYearHealthCareCostTrendRateReachesUltimateTrendRate
2027
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
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CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
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CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
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CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
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CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
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CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
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CY2022 us-gaap Multiemployer Plan Employer Contribution Cost
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Current Federal Tax Expense Benefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2020 us-gaap Current State And Local Tax Expense Benefit
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CY2020 us-gaap Current Income Tax Expense Benefit
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CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
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CY2020 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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-0.003
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Foreign
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Foreign
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CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Income Tax Reconciliation Tax Contingencies Domestic
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Domestic
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CY2022Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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Ernst & Young LLP
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Atlanta, Georgia

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