2024 Q1 Form 10-K Financial Statement

#000006066724000033 Filed on March 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2024
Revenue $18.60B $86.38B
YoY Change -17.12% -11.01%
Cost Of Revenue $12.58B $57.53B
YoY Change -17.2% -11.22%
Gross Profit $6.026B $28.84B
YoY Change -16.95% -10.58%
Gross Profit Margin 32.39% 33.39%
Selling, General & Admin $3.897B $15.57B
YoY Change -24.05% -23.42%
% of Gross Profit 64.67% 53.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $496.0M $1.923B
YoY Change 5.08% -2.93%
% of Gross Profit 8.23% 6.67%
Operating Expenses $4.339B $17.29B
YoY Change -21.85% -21.77%
Operating Profit $1.687B $11.56B
YoY Change -1.0% 13.76%
Interest Expense -$348.0M -$1.382B
YoY Change 8.07% 23.06%
% of Operating Profit -20.63% -11.96%
Other Income/Expense, Net -$4.000M -$10.00M
YoY Change 0.0% -54.55%
Pretax Income $1.339B $10.18B
YoY Change -3.11% 12.61%
Income Tax $319.0M $2.449B
% Of Pretax Income 23.82% 24.07%
Net Earnings $1.017B $7.706B
YoY Change 6.72% 20.11%
Net Earnings / Revenue 5.47% 8.92%
Basic Earnings Per Share $13.23
Diluted Earnings Per Share $1.77 $13.20
COMMON SHARES
Basic Shares Outstanding 572.2M shares 582.0M shares
Diluted Shares Outstanding 584.0M shares

Balance Sheet

Concept 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.228B $1.228B
YoY Change -29.1% -29.1%
Cash & Equivalents $921.0M $921.0M
Short-Term Investments $307.0M $307.0M
Other Short-Term Assets $949.0M $949.0M
YoY Change -19.44% -19.44%
Inventory $16.89B $16.89B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $19.07B $19.07B
YoY Change -11.06% -11.06%
LONG-TERM ASSETS
Property, Plant & Equipment $21.39B $21.39B
YoY Change 1.43% 1.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $252.0M $252.0M
YoY Change 108.26% 108.26%
Other Assets $1.086B $1.086B
YoY Change 2.45% 2.45%
Total Long-Term Assets $22.72B $22.72B
YoY Change 2.06% 2.06%
TOTAL ASSETS
Total Short-Term Assets $19.07B $19.07B
Total Long-Term Assets $22.72B $22.72B
Total Assets $41.80B $41.80B
YoY Change -4.38% -4.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.704B $8.704B
YoY Change -17.29% -17.29%
Accrued Expenses $1.441B $1.441B
YoY Change -11.65% -11.65%
Deferred Revenue $1.408B
YoY Change -12.16%
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $537.0M $537.0M
YoY Change -8.21% -8.21%
Total Short-Term Liabilities $15.57B $15.57B
YoY Change -20.21% -20.21%
LONG-TERM LIABILITIES
Long-Term Debt $35.38B $35.38B
YoY Change 7.63% 7.63%
Other Long-Term Liabilities $5.893B $5.893B
YoY Change 5.7% 5.7%
Total Long-Term Liabilities $41.28B $41.28B
YoY Change 7.35% 7.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.57B $15.57B
Total Long-Term Liabilities $41.28B $41.28B
Total Liabilities $56.85B $56.85B
YoY Change -1.93% -1.93%
SHAREHOLDERS EQUITY
Retained Earnings -$15.64B
YoY Change 5.21%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$15.05B -$15.05B
YoY Change
Total Liabilities & Shareholders Equity $41.80B $41.80B
YoY Change -4.38% -4.38%

Cashflow Statement

Concept 2024 Q1 2024
OPERATING ACTIVITIES
Net Income $1.017B $7.706B
YoY Change 6.72% 20.11%
Depreciation, Depletion And Amortization $496.0M $1.923B
YoY Change 5.08% -2.93%
Cash From Operating Activities $1.108B $8.140B
YoY Change 145.68% -5.23%
INVESTING ACTIVITIES
Capital Expenditures $620.0M $1.964B
YoY Change -16.1% 7.38%
Acquisitions
YoY Change
Other Investing Activities $25.00M $63.00M
YoY Change -95.41% -87.88%
Cash From Investing Activities -$595.0M -$1.901B
YoY Change 206.7% 45.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$139.0M -$5.997B
YoY Change -92.81% -57.08%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -802.0M -6.666B
YoY Change -62.12% -5.43%
NET CHANGE
Cash From Operating Activities 1.108B 8.140B
Cash From Investing Activities -595.0M -1.901B
Cash From Financing Activities -802.0M -6.666B
Net Change In Cash -289.0M -427.0M
YoY Change -84.46% -284.85%
FREE CASH FLOW
Cash From Operating Activities $1.108B $8.140B
Capital Expenditures $620.0M $1.964B
Free Cash Flow $488.0M $6.176B
YoY Change -269.44% -8.64%

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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fiscal Year -</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company’s fiscal year ends on the Friday nearest the end of January.  Fiscal 2022 contained 53 weeks, and fiscal years 2023 and 2021 each contained 52 weeks. All references herein for the years 2023, 2022, and 2021 represent the fiscal years ended February 2, 2024, February 3, 2023, and January 28, 2022, respectively.</span></div>
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AcceleratedShareRepurchasesInitialSharesDelivered
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AcceleratedShareRepurchasesAdditionalSharesDeliveredAtSettlement
1700000 shares
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AcceleratedShareRepurchasesTotalSharesDelivered
7600000 shares
CY2022Q1 low Accelerated Share Repurchases Amount
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AcceleratedShareRepurchasesInitialSharesDelivered
10300000 shares
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AcceleratedShareRepurchasesAdditionalSharesDeliveredAtSettlement
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AcceleratedShareRepurchasesTotalSharesDelivered
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CY2022Q2 low Accelerated Share Repurchases Amount
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AcceleratedShareRepurchasesInitialSharesDelivered
2800000 shares
CY2022Q3 low Accelerated Share Repurchases Additional Shares Delivered At Settlement
AcceleratedShareRepurchasesAdditionalSharesDeliveredAtSettlement
2100000 shares
CY2022Q3 low Accelerated Share Repurchases Total Shares Delivered
AcceleratedShareRepurchasesTotalSharesDelivered
9600000 shares
CY2022Q4 low Accelerated Share Repurchases Amount
AcceleratedShareRepurchasesAmount
2250000000 usd
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AcceleratedShareRepurchasesInitialSharesDelivered
8300000 shares
CY2022Q4 low Accelerated Share Repurchases Additional Shares Delivered At Settlement
AcceleratedShareRepurchasesAdditionalSharesDeliveredAtSettlement
3300000 shares
CY2022Q4 low Accelerated Share Repurchases Total Shares Delivered
AcceleratedShareRepurchasesTotalSharesDelivered
11600000 shares
low Accelerated Share Repurchases Amount
AcceleratedShareRepurchasesAmount
530000000 usd
low Accelerated Share Repurchases Initial Shares Delivered
AcceleratedShareRepurchasesInitialSharesDelivered
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low Accelerated Share Repurchases Additional Shares Delivered At Settlement
AcceleratedShareRepurchasesAdditionalSharesDeliveredAtSettlement
600000 shares
low Accelerated Share Repurchases Total Shares Delivered
AcceleratedShareRepurchasesTotalSharesDelivered
2600000 shares
CY2023Q2 low Accelerated Share Repurchases Amount
AcceleratedShareRepurchasesAmount
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AcceleratedShareRepurchasesInitialSharesDelivered
3100000 shares
CY2023Q2 low Accelerated Share Repurchases Additional Shares Delivered At Settlement
AcceleratedShareRepurchasesAdditionalSharesDeliveredAtSettlement
700000 shares
CY2023Q2 low Accelerated Share Repurchases Total Shares Delivered
AcceleratedShareRepurchasesTotalSharesDelivered
3800000 shares
CY2023Q3 low Accelerated Share Repurchases Amount
AcceleratedShareRepurchasesAmount
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AcceleratedShareRepurchasesInitialSharesDelivered
3900000 shares
CY2023Q3 low Accelerated Share Repurchases Additional Shares Delivered At Settlement
AcceleratedShareRepurchasesAdditionalSharesDeliveredAtSettlement
700000 shares
CY2023Q3 low Accelerated Share Repurchases Total Shares Delivered
AcceleratedShareRepurchasesTotalSharesDelivered
4600000 shares
CY2023Q4 low Accelerated Share Repurchases Amount
AcceleratedShareRepurchasesAmount
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CY2023Q4 low Accelerated Share Repurchases Initial Shares Delivered
AcceleratedShareRepurchasesInitialSharesDelivered
5300000 shares
CY2023Q4 low Accelerated Share Repurchases Additional Shares Delivered At Settlement
AcceleratedShareRepurchasesAdditionalSharesDeliveredAtSettlement
1700000 shares
CY2023Q4 low Accelerated Share Repurchases Total Shares Delivered
AcceleratedShareRepurchasesTotalSharesDelivered
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CY2023 us-gaap Stock Repurchased And Retired During Period Value
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CY2022 us-gaap Allocated Share Based Compensation Expense
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P1Y4M24D
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CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2024 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3000000 shares
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
584000000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
631000000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
699000000 shares
CY2024 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
13.20
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
10.17
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
12.04
CY2024 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
2300000000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
912000000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
679000000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
345000000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
263000000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
26000000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
53000000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
2278000000 usd
CY2024Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
512000000 usd
CY2024 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
1438000000 usd
CY2023 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
1108000000 usd
CY2022 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
827000000 usd
CY2024 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24000000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
29000000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
30000000 usd
CY2024 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
15000000 usd
CY2023 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
5000000 usd
CY2022 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
5000000 usd
CY2024 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
101000000 usd
CY2023 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
37000000 usd
CY2022 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
12000000 usd
CY2024 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4000000 usd
CY2023 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4000000 usd
CY2022 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
3000000 usd
CY2024 low Unrecognized Tax Benefits Interest On Income Taxes Expense Net
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpenseNet
1000000 usd
CY2023 low Unrecognized Tax Benefits Interest On Income Taxes Expense Net
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpenseNet
3000000 usd
CY2022 low Unrecognized Tax Benefits Interest On Income Taxes Expense Net
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpenseNet
12000000 usd
CY2024 us-gaap Interest Expense Other
InterestExpenseOther
9000000 usd
CY2023 us-gaap Interest Expense Other
InterestExpenseOther
19000000 usd
CY2022 us-gaap Interest Expense Other
InterestExpenseOther
26000000 usd
CY2024 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-1382000000 usd
CY2023 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-1123000000 usd
CY2022 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-885000000 usd
CY2024 us-gaap Interest Paid Net
InterestPaidNet
1464000000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
976000000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
837000000 usd
CY2024 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3700000000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1720000000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2735000000 usd
CY2024Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
633000000 usd
CY2023Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
633000000 usd
CY2022Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
537000000 usd
CY2024 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
86377000000 usd
CY2024 low Sales Revenue Net Percent
SalesRevenueNetPercent
1.000
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
97059000000 usd
CY2023 low Sales Revenue Net Percent
SalesRevenueNetPercent
1.000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
96250000000 usd
CY2022 low Sales Revenue Net Percent
SalesRevenueNetPercent
1.000
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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exhibit211_02022024.htm Edgar Link pending
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