2024 Q1 Form 10-K Financial Statement

#000162828024007424 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $8.100B $8.302B $32.85B
YoY Change -1.14% 5.1% -1.53%
Cost Of Revenue $4.216B $4.431B $17.49B
YoY Change -4.85% 0.09% -10.07%
Gross Profit $3.884B $3.871B $15.36B
YoY Change 3.24% 11.49% 10.41%
Gross Profit Margin 47.95% 46.63% 46.76%
Selling, General & Admin $860.0M $832.0M $3.295B
YoY Change 4.62% 8.9% 6.05%
% of Gross Profit 22.14% 21.49% 21.45%
Research & Development $38.00M $39.00M $146.0M
YoY Change 5.56% 8.33% 2.1%
% of Gross Profit 0.98% 1.01% 0.95%
Depreciation & Amortization $949.0M $949.0M $3.816B
YoY Change 0.11% -0.73% 5.04%
% of Gross Profit 24.43% 24.52% 24.84%
Operating Expenses $898.0M $1.845B $7.298B
YoY Change 4.66% 4.83% 124.55%
Operating Profit $2.095B $2.026B $8.064B
YoY Change 8.38% 18.34% 50.2%
Interest Expense -$65.00M -$71.00M -$200.0M
YoY Change 75.68% 129.03% 72.41%
% of Operating Profit -3.1% -3.5% -2.48%
Other Income/Expense, Net $50.00M $39.00M $164.0M
YoY Change 11.11% -32.76% -39.71%
Pretax Income $2.080B $1.996B $7.988B
YoY Change 7.16% 16.45% 219.26%
Income Tax $463.0M $459.0M $1.814B
% Of Pretax Income 22.26% 23.0% 22.71%
Net Earnings $1.627B $1.543B $6.199B
YoY Change 7.32% 16.19% 49.48%
Net Earnings / Revenue 20.09% 18.59% 18.87%
Basic Earnings Per Share $3.38 $12.70
Diluted Earnings Per Share $3.35 $3.16 $12.59
COMMON SHARES
Basic Shares Outstanding 481.6M shares 488.2M shares
Diluted Shares Outstanding 485.6M shares 492.3M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.848B $4.664B $4.664B
YoY Change -2.3% -14.2% -14.2%
Cash & Equivalents $4.848B $4.664B $4.664B
Short-Term Investments
Other Short-Term Assets $928.0M $927.0M $927.0M
YoY Change -3.33% -2.42% -2.42%
Inventory $2.100B $2.115B $2.115B
Prepaid Expenses $583.0M
Receivables $5.009B $4.914B $4.914B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.10B $12.62B $12.62B
YoY Change 1.53% -3.27% -3.27%
LONG-TERM ASSETS
Property, Plant & Equipment $24.42B $24.55B $24.55B
YoY Change 2.61% 4.26% 0.54%
Goodwill $26.29B $26.75B
YoY Change -0.49% 3.62%
Intangibles $12.00B $12.40B
YoY Change -5.04% -0.17%
Long-Term Investments $2.190B $2.377B
YoY Change -6.81% -6.2%
Other Assets $4.537B $4.489B $4.489B
YoY Change -0.33% 81.3% 257.4%
Total Long-Term Assets $67.25B $68.19B $68.19B
YoY Change -0.24% 2.37% 2.37%
TOTAL ASSETS
Total Short-Term Assets $13.10B $12.62B $12.62B
Total Long-Term Assets $67.25B $68.19B $68.19B
Total Assets $80.35B $80.81B $80.81B
YoY Change 0.05% 1.45% 1.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.885B $3.020B $3.020B
YoY Change -1.9% 0.83% 0.83%
Accrued Expenses $2.705B
YoY Change -0.77%
Deferred Revenue $1.827B $1.901B
YoY Change -40.49% -38.14%
Short-Term Debt $4.046B $4.713B $4.713B
YoY Change -24.19% 14.48% 14.48%
Long-Term Debt Due $1.046B $1.263B $1.263B
YoY Change -38.33% -21.01% -21.01%
Total Short-Term Liabilities $14.39B $15.72B $15.72B
YoY Change -19.09% -4.62% -4.62%
LONG-TERM LIABILITIES
Long-Term Debt $15.23B $13.40B $13.40B
YoY Change 29.66% 9.83% 9.83%
Other Long-Term Liabilities $10.50B $10.60B $10.60B
YoY Change 11.21% 279.32% 279.32%
Total Long-Term Liabilities $25.73B $24.00B $24.00B
YoY Change 21.44% 60.07% 60.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.39B $15.72B $15.72B
Total Long-Term Liabilities $25.73B $24.00B $24.00B
Total Liabilities $40.12B $41.09B $41.09B
YoY Change 2.94% 7.37% 3.69%
SHAREHOLDERS EQUITY
Retained Earnings $9.708B $8.845B
YoY Change 59.36% -56.94%
Common Stock $1.000M $1.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.83B $39.72B $39.72B
YoY Change
Total Liabilities & Shareholders Equity $80.35B $80.81B $80.81B
YoY Change 0.05% 1.45% 1.45%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $1.627B $1.543B $6.199B
YoY Change 7.32% 16.19% 49.48%
Depreciation, Depletion And Amortization $949.0M $949.0M $3.816B
YoY Change 0.11% -0.73% 5.04%
Cash From Operating Activities $1.954B $2.727B $9.305B
YoY Change 2.41% 30.17% 4.98%
INVESTING ACTIVITIES
Capital Expenditures $1.048B $1.151B $3.787B
YoY Change 26.42% 22.97% 19.35%
Acquisitions $0.00 $953.0M
YoY Change -100.0% 766.36%
Other Investing Activities $7.000M -$75.00M -$883.0M
YoY Change -100.87% -236.36% -1138.82%
Cash From Investing Activities -$1.041B -$1.226B -$4.670B
YoY Change -36.29% 39.16% 51.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.025B -$3.925B
YoY Change -176.48%
Debt Paid & Issued, Net $610.0M $1.682B
YoY Change 12.55% -5.77%
Cash From Financing Activities -$668.0M -780.0M -5.400B
YoY Change -12.57% -300.0% 74.81%
NET CHANGE
Cash From Operating Activities $1.954B 2.727B 9.305B
Cash From Investing Activities -$1.041B -1.226B -4.670B
Cash From Financing Activities -$668.0M -780.0M -5.400B
Net Change In Cash $184.0M 721.0M -765.0M
YoY Change -138.82% -55.05% -129.28%
FREE CASH FLOW
Cash From Operating Activities $1.954B $2.727B $9.305B
Capital Expenditures $1.048B $1.151B $3.787B
Free Cash Flow $906.0M $1.576B $5.518B
YoY Change -16.03% 35.98% -3.04%

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