2024 Q1 Form 10-K Financial Statement

#000106569624000009 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $3.703B $3.501B $13.87B
YoY Change 10.57% 16.66% 8.38%
Cost Of Revenue $2.243B $2.102B $8.291B
YoY Change 13.45% 18.22% 9.51%
Gross Profit $1.460B $1.399B $5.575B
YoY Change 6.41% 14.39% 6.74%
Gross Profit Margin 39.43% 39.96% 40.21%
Selling, General & Admin $1.044B $1.022B $3.870B
YoY Change 12.14% 18.7% 9.2%
% of Gross Profit 71.51% 73.05% 69.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0M $100.0M $319.0M
YoY Change 53.85% 49.25% 20.83%
% of Gross Profit 6.85% 7.15% 5.72%
Operating Expenses $1.133B $1.110B $3.870B
YoY Change 21.7% 20.65% 9.2%
Operating Profit $327.0M $289.0M $1.357B
YoY Change -10.41% -4.62% -14.17%
Interest Expense -$64.00M -$64.00M -$214.0M
YoY Change 77.78% 100.0% 174.36%
% of Operating Profit -19.57% -22.15% -15.77%
Other Income/Expense, Net $6.000M $9.000M -$122.0M
YoY Change -250.0% -18.18% 93.65%
Pretax Income $231.0M $222.0M $795.0M
YoY Change -36.01% -18.38% -26.25%
Income Tax $71.00M $43.00M $306.0M
% Of Pretax Income 30.74% 19.37% 38.49%
Net Earnings $158.0M $177.0M $938.0M
YoY Change -41.48% -8.76% -18.36%
Net Earnings / Revenue 4.27% 5.06% 6.76%
Basic Earnings Per Share $0.59 $3.50
Diluted Earnings Per Share $0.59 $0.66 $3.49
COMMON SHARES
Basic Shares Outstanding 266.6M shares 267.6M shares 267.6M shares
Diluted Shares Outstanding 267.7M shares 268.3M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $344.0M $299.0M $299.0M
YoY Change 0.58% 7.55% 7.55%
Cash & Equivalents $344.0M $299.0M $299.0M
Short-Term Investments
Other Short-Term Assets $343.0M $283.0M $283.0M
YoY Change 17.87% 23.04% 23.04%
Inventory $3.123B $3.121B $3.121B
Prepaid Expenses
Receivables $1.392B $1.165B $1.165B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.202B $4.868B $4.868B
YoY Change 12.52% 14.33% 14.33%
LONG-TERM ASSETS
Property, Plant & Equipment $2.807B $1.516B $2.852B
YoY Change 121.9% 22.65% 15.79%
Goodwill $5.526B $5.600B
YoY Change 26.57% 29.66%
Intangibles $1.271B $1.313B
YoY Change 95.24% 101.07%
Long-Term Investments $163.0M $159.0M $159.0M
YoY Change 4.49% 12.77% 12.77%
Other Assets $301.0M $287.0M $287.0M
YoY Change 52.02% 40.69% 40.69%
Total Long-Term Assets $10.07B $10.21B $10.21B
YoY Change 27.69% 31.25% 31.25%
TOTAL ASSETS
Total Short-Term Assets $5.202B $4.868B $4.868B
Total Long-Term Assets $10.07B $10.21B $10.21B
Total Assets $15.27B $15.08B $15.08B
YoY Change 22.08% 25.26% 25.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.840B $1.648B $1.648B
YoY Change 34.21% 23.08% 23.08%
Accrued Expenses $822.0M $309.0M $793.0M
YoY Change 153.7% 5.1% 13.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $88.00M $596.0M $596.0M
YoY Change 100.0% 1652.94% 1652.94%
Total Short-Term Liabilities $3.059B $3.318B $3.318B
YoY Change 26.82% 46.1% 46.1%
LONG-TERM LIABILITIES
Long-Term Debt $4.161B $3.655B $3.655B
YoY Change 55.03% 39.4% 39.4%
Other Long-Term Liabilities $1.451B $314.0M $1.477B
YoY Change 402.08% 10.95% 7.5%
Total Long-Term Liabilities $5.612B $314.0M $5.132B
YoY Change 1841.87% 10.95% 28.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.059B $3.318B $3.318B
Total Long-Term Liabilities $5.612B $314.0M $5.132B
Total Liabilities $9.111B $3.632B $8.912B
YoY Change 237.32% 42.21% 35.34%
SHAREHOLDERS EQUITY
Retained Earnings $7.367B $7.290B
YoY Change 7.52% 9.53%
Common Stock $1.544B $1.541B
YoY Change 2.05% 2.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.454B $2.424B
YoY Change 2.51% 1.47%
Treasury Stock Shares
Shareholders Equity $6.159B $6.167B $6.167B
YoY Change
Total Liabilities & Shareholders Equity $15.27B $15.08B $15.08B
YoY Change 22.08% 25.26% 25.26%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $158.0M $177.0M $938.0M
YoY Change -41.48% -8.76% -18.36%
Depreciation, Depletion And Amortization $100.0M $100.0M $319.0M
YoY Change 53.85% 49.25% 20.83%
Cash From Operating Activities $253.0M $212.0M $1.356B
YoY Change 13.45% -11.67% 8.48%
INVESTING ACTIVITIES
Capital Expenditures $66.00M $125.0M $358.0M
YoY Change -5.71% 68.92% 61.26%
Acquisitions $17.00M $2.225B
YoY Change -32.0% 55525.0%
Other Investing Activities -$22.00M $72.00M $29.00M
YoY Change -540.0% 3500.0% 190.0%
Cash From Investing Activities -$88.00M -$53.00M -$2.442B
YoY Change -9.28% -26.39% -1519.77%
FINANCING ACTIVITIES
Cash Dividend Paid $81.00M $302.0M
YoY Change 9.46% 6.34%
Common Stock Issuance & Retirement, Net $38.00M
YoY Change -96.35%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -113.0M -289.0M $1.102B
YoY Change 71.21% 63.28% -179.05%
NET CHANGE
Cash From Operating Activities 253.0M 212.0M $1.356B
Cash From Investing Activities -88.00M -53.00M -$2.442B
Cash From Financing Activities -113.0M -289.0M $1.102B
Net Change In Cash 52.00M -130.0M $21.00M
YoY Change -18.75% 1344.44% 425.0%
FREE CASH FLOW
Cash From Operating Activities $253.0M $212.0M $1.356B
Capital Expenditures $66.00M $125.0M $358.0M
Free Cash Flow $187.0M $87.00M $998.0M
YoY Change 22.22% -47.59% -2.92%

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