2022 Q1 Form 10-Q Financial Statement

#000005947822000133 Filed on April 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $7.810B $8.000B $6.806B
YoY Change 14.76% 7.53% 16.14%
Cost Of Revenue $2.072B $2.050B $1.879B
YoY Change 10.3% 19.21% 54.6%
Gross Profit $5.738B $5.950B $4.927B
YoY Change 16.46% 4.01% 6.08%
Gross Profit Margin 73.47% 74.37% 72.4%
Selling, General & Admin $1.558B $1.592B $1.576B
YoY Change -1.15% 2.45% 1.7%
% of Gross Profit 27.15% 26.76% 31.99%
Research & Development $1.610B $1.959B $1.672B
YoY Change -3.71% 6.61% 20.11%
% of Gross Profit 28.06% 32.93% 33.94%
Depreciation & Amortization $435.7M $445.7M $350.3M
YoY Change 24.38% 21.28% 28.03%
% of Gross Profit 7.59% 7.49% 7.11%
Operating Expenses $3.168B $3.551B $3.248B
YoY Change -2.47% 4.7% 10.42%
Operating Profit $2.570B $2.398B $1.679B
YoY Change 53.07% 3.01% -1.42%
Interest Expense $84.90M -$167.2M $87.80M
YoY Change -3.3% 100.48% -5.08%
% of Operating Profit 3.3% -6.97% 5.23%
Other Income/Expense, Net -$350.7M $89.90M $321.1M
YoY Change -209.22% -83.96% 260.38%
Pretax Income $2.054B $1.840B $1.476B
YoY Change 39.1% -25.48% -12.11%
Income Tax $150.7M $113.8M $121.1M
% Of Pretax Income 7.34% 6.19% 8.2%
Net Earnings $1.903B $1.726B $1.355B
YoY Change 40.4% -18.46% -6.95%
Net Earnings / Revenue 24.36% 21.58% 19.91%
Basic Earnings Per Share $2.11 $1.49
Diluted Earnings Per Share $2.10 $1.893M $1.49
COMMON SHARES
Basic Shares Outstanding 903.7M shares 956.6M shares 908.8M shares
Diluted Shares Outstanding 906.4M shares 912.4M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.568B $3.909B $3.051B
YoY Change -15.82% 6.18% 71.69%
Cash & Equivalents $2.459B $3.819B $3.002B
Short-Term Investments $109.1M $90.10M $49.00M
Other Short-Term Assets $2.698B $2.531B $3.234B
YoY Change -16.58% -11.89% 17.09%
Inventory $3.893B $3.886B $3.661B
Prepaid Expenses $2.698B $2.531B $3.234B
Receivables $6.323B $6.673B $5.593B
Other Receivables $1.483B $1.454B $1.066B
Total Short-Term Assets $16.96B $18.45B $16.60B
YoY Change 2.17% 5.67% 18.65%
LONG-TERM ASSETS
Property, Plant & Equipment $9.103B $8.985B $8.630B
YoY Change 5.48% 3.49% 9.27%
Goodwill $3.892B $3.892B $3.877B
YoY Change 0.38% 3.33% 2.6%
Intangibles $7.482B $7.692B $8.088B
YoY Change -7.49% 3.25% 4.13%
Long-Term Investments $2.727B $3.213B $3.232B
YoY Change -15.62% 8.28% 50.4%
Other Assets $4.285B $4.083B $3.756B
YoY Change 14.09% 17.47% 23.37%
Total Long-Term Assets $29.95B $30.35B $30.23B
YoY Change -0.92% 4.05% 11.53%
TOTAL ASSETS
Total Short-Term Assets $16.96B $18.45B $16.60B
Total Long-Term Assets $29.95B $30.35B $30.23B
Total Assets $46.92B $48.81B $46.84B
YoY Change 0.17% 4.66% 13.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.433B $1.671B $1.640B
YoY Change -12.58% 3.98% 35.76%
Accrued Expenses $693.1M $958.1M $650.0M
YoY Change 6.63% -3.9% 14.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.356B $1.538B $5.000M
YoY Change 27018.0% 16992.22% -99.85%
Total Short-Term Liabilities $13.39B $15.05B $11.71B
YoY Change 14.27% 20.6% -7.11%
LONG-TERM LIABILITIES
Long-Term Debt $15.15B $15.35B $16.20B
YoY Change -6.46% -7.48% 15.86%
Other Long-Term Liabilities $1.714B $1.644B $1.737B
YoY Change -1.35% -3.7% -7.25%
Total Long-Term Liabilities $24.07B $24.60B $28.02B
YoY Change -14.11% -13.16% 10.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.39B $15.05B $11.71B
Total Long-Term Liabilities $24.07B $24.60B $28.02B
Total Liabilities $37.46B $39.65B $39.74B
YoY Change -5.74% -2.83% 4.84%
SHAREHOLDERS EQUITY
Retained Earnings $9.369B $8.959B $9.181B
YoY Change 2.05% 14.41% 56.16%
Common Stock $7.250B $7.430B $7.179B
YoY Change 1.0% 0.72% 0.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $50.50M $52.70M $52.70M
YoY Change -4.17% -5.39% -5.39%
Treasury Stock Shares
Shareholders Equity $9.331B $8.979B $6.899B
YoY Change
Total Liabilities & Shareholders Equity $46.92B $48.81B $46.84B
YoY Change 0.17% 4.66% 13.95%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income $1.903B $1.726B $1.355B
YoY Change 40.4% -18.46% -6.95%
Depreciation, Depletion And Amortization $435.7M $445.7M $350.3M
YoY Change 24.38% 21.28% 28.03%
Cash From Operating Activities $2.499B $2.157B $1.697B
YoY Change 47.24% 18.8% 343.88%
INVESTING ACTIVITIES
Capital Expenditures -$857.2M -$394.2M -$492.1M
YoY Change 74.19% -51.9% 81.39%
Acquisitions $0.00 $747.4M
YoY Change -100.0% -12.0%
Other Investing Activities $133.4M $15.20M $21.90M
YoY Change 509.13% -89.55% -142.61%
Cash From Investing Activities -$1.014B -$379.0M -$1.284B
YoY Change -21.01% -43.78% 20.98%
FINANCING ACTIVITIES
Cash Dividend Paid $885.5M $774.8M
YoY Change 14.29% 15.42%
Common Stock Issuance & Retirement, Net $1.500B $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $710.1M $0.00
YoY Change -100.0%
Cash From Financing Activities -$2.878B -1.527B -$1.058B
YoY Change 171.95% 18.2% -1091.94%
NET CHANGE
Cash From Operating Activities $2.499B 2.157B $1.697B
Cash From Investing Activities -$1.014B -379.0M -$1.284B
Cash From Financing Activities -$2.878B -1.527B -$1.058B
Net Change In Cash -$1.359B 251.0M -$654.7M
YoY Change 107.62% -266.89% 2.54%
FREE CASH FLOW
Cash From Operating Activities $2.499B $2.157B $1.697B
Capital Expenditures -$857.2M -$394.2M -$492.1M
Free Cash Flow $3.356B $2.551B $2.190B
YoY Change 53.3% -3.19% 234.94%

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0 USD
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3657100000 USD
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2459200000 USD
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3002400000 USD
CY2022Q1 us-gaap Revenues
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CY2022Q1 us-gaap Revenues
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CY2021Q1 us-gaap Revenues
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CY2022Q1 us-gaap Revenues
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CY2022Q1 us-gaap Severance Costs1
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CY2021Q1 us-gaap Severance Costs1
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0 USD
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CY2022Q1 us-gaap Restructuring Settlement And Impairment Provisions
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0 USD
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211600000 USD
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108100000 USD
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CY2022Q1 us-gaap Translation Adjustment For Net Investment Hedge Net Of Tax
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CY2021Q4 us-gaap Translation Adjustment For Net Investment Hedge Net Of Tax
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CY2022Q1 lly Description Of Derivative Activity Volume Percent
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0.14
CY2022Q1 lly Derivative Instruments Gain Loss Recognized
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CY2022Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
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CY2022Q1 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
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843000000 USD
CY2022Q1 lly Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Commitments Payment Period
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P10Y
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
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567100000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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98900000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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110700000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
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159800000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
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CY2021Q1 us-gaap Equity Securities Fv Ni Gain Loss
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301500000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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1300000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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9700000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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25200000 USD
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5200000 USD
CY2022Q1 lly Debt Securities Availableforsale Unrealized Gain Position
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CY2021Q4 lly Debt Securities Availableforsale Unrealized Gain Position
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CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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290200000 USD
CY2022Q1 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Other Percentage Of Nonperforming Assets
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0.97
CY2022Q1 lly Proceedsfrom Saleof Equityand Availablefor Sale Securities
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35200000 USD
CY2021Q1 lly Proceedsfrom Saleof Equityand Availablefor Sale Securities
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43300000 USD
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100000 USD
CY2021Q1 lly Availablefor Sale Securitiesand Equity Securities Fvni Realized Gain
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1100000 USD
CY2022Q1 lly Availableforsale Securitiesand Equity Securities Fvni Realized Loss
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800000 USD
CY2021Q1 lly Availableforsale Securitiesand Equity Securities Fvni Realized Loss
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400000 USD
CY2022Q1 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
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CY2021Q4 us-gaap Transfer Of Financial Assets Accounted For As Sales Amount Derecognized
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550500000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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56500000 USD
CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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11100000 USD
CY2021Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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100800000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Tax
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65300000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Tax
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170300000 USD
CY2022Q1 us-gaap Interest Expense
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CY2021Q1 us-gaap Interest Expense
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CY2022Q1 us-gaap Investment Income Interest
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CY2021Q1 us-gaap Investment Income Interest
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5500000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
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CY2021Q1 us-gaap Equity Securities Fv Ni Gain Loss
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301500000 USD
CY2022Q1 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2021Q1 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2022Q1 us-gaap Other Nonoperating Income Expense
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59300000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
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28500000 USD
CY2022Q1 us-gaap Nonoperating Income Expense
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CY2021Q1 us-gaap Nonoperating Income Expense
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321100000 USD

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