2023 Q4 Form 10-K Financial Statement

#000157058524000022 Filed on February 15, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $1.921B $7.491B
YoY Change 4.27% 4.11%
Cost Of Revenue $951.3M $2.385B
YoY Change 11.12% 14.34%
Gross Profit $969.2M $5.107B
YoY Change -1.68% -0.06%
Gross Profit Margin 50.47% 68.17%
Selling, General & Admin $479.8M $1.761B
YoY Change 9.74% 8.8%
% of Gross Profit 49.5% 34.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $633.4M $2.315B
YoY Change 8.64% 6.62%
% of Gross Profit 65.35% 45.34%
Operating Expenses $1.113B $1.761B
YoY Change 9.12% 8.8%
Operating Profit -$144.0M -$244.5M
YoY Change 318.6% -266.55%
Interest Expense -$3.351B $907.9M
YoY Change -27.21% 54.06%
% of Operating Profit
Other Income/Expense, Net $66.00M -$3.480B
YoY Change -11.05% -372.4%
Pretax Income -$3.492B -$3.724B
YoY Change -23.67% -361.49%
Income Tax -$20.40M $149.6M
% Of Pretax Income
Net Earnings -$3.490B -$4.052B
YoY Change -25.74% -375.03%
Net Earnings / Revenue -181.72% -54.08%
Basic Earnings Per Share -$9.52
Diluted Earnings Per Share -$8.93 -$9.52
COMMON SHARES
Basic Shares Outstanding 425.7M shares
Diluted Shares Outstanding 425.7M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.406B $3.406B
YoY Change -21.65% -21.65%
Cash & Equivalents $1.416B $1.416B
Short-Term Investments $1.991B $1.991B
Other Short-Term Assets $847.0M $1.365B
YoY Change 15.03% 21.99%
Inventory
Prepaid Expenses
Receivables $870.1M $870.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.642B $5.642B
YoY Change -10.41% -10.41%
LONG-TERM ASSETS
Property, Plant & Equipment $9.122B $9.122B
YoY Change 10.85% 10.85%
Goodwill $10.48B
YoY Change 12.46%
Intangibles
YoY Change
Long-Term Investments $9.988B $13.40B
YoY Change -21.22% -9.83%
Other Assets $3.159B $1.398B
YoY Change -11.71% -24.62%
Total Long-Term Assets $36.45B $36.45B
YoY Change -0.41% -0.41%
TOTAL ASSETS
Total Short-Term Assets $5.642B $5.642B
Total Long-Term Assets $36.45B $36.45B
Total Assets $42.09B $42.09B
YoY Change -1.88% -1.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $689.8M $689.8M
YoY Change 13.06% 13.06%
Accrued Expenses $1.896B $1.896B
YoY Change 10.61% 10.61%
Deferred Revenue $249.2M
YoY Change -5.75%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $794.6M $806.8M
YoY Change 10.13% 0.89%
Total Short-Term Liabilities $4.333B $4.333B
YoY Change 10.5% 10.5%
LONG-TERM LIABILITIES
Long-Term Debt $14.91B $14.96B
YoY Change 18.31% 15.39%
Other Long-Term Liabilities $2.137B $3.789B
YoY Change 19.28% 10.23%
Total Long-Term Liabilities $17.05B $18.75B
YoY Change 18.43% 14.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.333B $4.333B
Total Long-Term Liabilities $17.05B $18.75B
Total Liabilities $23.08B $23.03B
YoY Change 13.58% 12.55%
SHAREHOLDERS EQUITY
Retained Earnings $15.57B
YoY Change -20.65%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.06B $19.06B
YoY Change
Total Liabilities & Shareholders Equity $42.09B $42.09B
YoY Change -1.88% -1.88%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$3.490B -$4.052B
YoY Change -25.74% -375.03%
Depreciation, Depletion And Amortization $633.4M $2.315B
YoY Change 8.64% 6.62%
Cash From Operating Activities $839.2M $2.166B
YoY Change -4.98% -23.68%
INVESTING ACTIVITIES
Capital Expenditures $369.8M $1.386B
YoY Change -1.1% 6.35%
Acquisitions $114.6M
YoY Change -4344.44%
Other Investing Activities -$508.8M $17.30M
YoY Change 83.48%
Cash From Investing Activities -$878.6M -$1.845B
YoY Change 34.92% -244.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.495B
YoY Change -12.25%
Debt Paid & Issued, Net $1.005B
YoY Change 2.5%
Cash From Financing Activities -349.3M -$692.4M
YoY Change 63.68% -78.86%
NET CHANGE
Cash From Operating Activities 839.2M $2.166B
Cash From Investing Activities -878.6M -$1.845B
Cash From Financing Activities -349.3M -$692.4M
Net Change In Cash -388.7M -$309.5M
YoY Change -2189.78% -137.97%
FREE CASH FLOW
Cash From Operating Activities $839.2M $2.166B
Capital Expenditures $369.8M $1.386B
Free Cash Flow $469.4M $779.9M
YoY Change -7.83% -49.18%

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<div style="text-align:justify;text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Estimates</span></div><div style="text-align:justify;text-indent:11.25pt"><span><br/></span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Estimates and assumptions are used in accounting for, among other things, the valuation of acquisition-related assets and liabilities, deferred income taxes and related valuation allowances, loss contingencies, fair value measurements, impairment assessments, capitalization of internal costs associated with construction and installation activities and the development of internal-use software, useful lives of long-lived assets, share-based compensation and actuarial liabilities associated with certain benefit plans. Actual results could differ from those estimates.</span></div>
CY2023 us-gaap Prior Period Reclassification Adjustment Description
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CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Fair Value
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q4 us-gaap Derivative Assets
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CY2022Q4 us-gaap Derivative Assets
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CY2023Q4 us-gaap Derivative Liabilities Current
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CY2023Q4 us-gaap Derivative Liabilities Noncurrent
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CY2023Q4 us-gaap Derivative Liabilities
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CY2022Q4 us-gaap Derivative Liabilities Current
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CY2022Q4 us-gaap Derivative Liabilities Noncurrent
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CY2022Q4 us-gaap Derivative Liabilities
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CY2023 us-gaap Derivative Gain Loss On Derivative Net
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CY2022 us-gaap Derivative Gain Loss On Derivative Net
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CY2021 us-gaap Derivative Gain Loss On Derivative Net
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CY2022 lbtya Payments For Proceeds From Derivative Instrument Operating Activities
PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
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CY2021 lbtya Payments For Proceeds From Derivative Instrument Operating Activities
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CY2023 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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CY2022 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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CY2021 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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CY2023 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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CY2022 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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CY2021 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
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CY2021 lbtya Proceeds Repayments From Derivatives Continuing Operations
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CY2023Q4 us-gaap Derivative Assets
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CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q4 us-gaap Investments Fair Value Disclosure
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CY2023Q4 us-gaap Assets Fair Value Disclosure
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CY2022Q4 us-gaap Derivative Assets
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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CY2022Q4 us-gaap Assets Fair Value Disclosure
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CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
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CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
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CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2022 us-gaap Depreciation Nonproduction
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CY2023 lbtya Value Added Tax Vendor Financing Arrangement
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CY2022 lbtya Value Added Tax Vendor Financing Arrangement
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CY2021 lbtya Value Added Tax Vendor Financing Arrangement
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CY2022Q4 us-gaap Goodwill
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CY2023 us-gaap Goodwill Purchase Accounting Adjustments
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CY2023Q4 us-gaap Goodwill
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
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CY2023Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2022Q4 lbtya Deferred License Fees
DeferredLicenseFees
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CY2023 lbtya Number Of Subsidiaries With The Most Outstanding Debt
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 lbtya Lease Asset
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CY2023Q4 us-gaap Finance Lease Liability
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CY2023Q4 us-gaap Operating Lease Liability
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CY2022Q4 us-gaap Operating Lease Liability
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CY2023Q4 lbtya Lease Liability
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CY2022Q4 lbtya Lease Liability
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CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2022 us-gaap Operating Lease Cost
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CY2023 us-gaap Short Term Lease Cost
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CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2023Q4 us-gaap Finance Lease Liability Payments Due After Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Finance Lease Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q4 us-gaap Finance Lease Liability
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CY2023Q4 us-gaap Finance Lease Liability Current
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