2023 Q4 Form 10-Q Financial Statement

#000133525823000102 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $5.839B $8.152B $6.154B
YoY Change 36.08% 32.48% 128.02%
Cost Of Revenue $4.681B $6.331B $4.708B
YoY Change 42.21% 34.47% 138.99%
Gross Profit $1.158B $1.822B $1.446B
YoY Change 15.88% 26.0% 98.36%
Gross Profit Margin 19.83% 22.35% 23.49%
Selling, General & Admin $1.110B $974.2M $805.9M
YoY Change 12.5% 20.88% 80.32%
% of Gross Profit 95.9% 53.48% 55.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $134.4M $130.7M $102.1M
YoY Change 2.21% 28.02% 0.65%
% of Gross Profit 11.61% 7.18% 7.06%
Operating Expenses $1.245B $974.2M $805.9M
YoY Change 11.3% 20.88% 80.32%
Operating Profit -$87.01M $618.5M $506.2M
YoY Change -27.08% 22.18% 269.13%
Interest Expense -$50.38M $86.22M $70.51M
YoY Change 118.12% 22.27% 0.15%
% of Operating Profit 13.94% 13.93%
Other Income/Expense, Net -$10.70M -$19.25M -$7.960M
YoY Change -23.48% 141.85% -36.02%
Pretax Income -$143.0M $596.6M $439.3M
YoY Change -8.88% 35.8% 370.91%
Income Tax $38.87M $55.87M $41.90M
% Of Pretax Income 9.37% 9.54%
Net Earnings -$285.7M $483.5M $361.4M
YoY Change 8.15% 33.78% 670.94%
Net Earnings / Revenue -4.89% 5.93% 5.87%
Basic Earnings Per Share $1.85 $1.47
Diluted Earnings Per Share -$1.25 $1.78 $1.39
COMMON SHARES
Basic Shares Outstanding 230.3M shares 230.2M shares 230.0M shares
Diluted Shares Outstanding 244.2M shares 243.7M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.232B $5.949B $4.951B
YoY Change 11.16% 20.15% 6.96%
Cash & Equivalents $6.232B $5.949B $4.951B
Short-Term Investments
Other Short-Term Assets $122.2M $123.6M $72.80M
YoY Change -7.41% 69.82% 49.27%
Inventory $45.14M
Prepaid Expenses $1.148B $1.425B $908.9M
Receivables $2.069B $2.503B $1.990B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.578B $10.01B $7.927B
YoY Change 17.38% 26.23% 20.93%
LONG-TERM ASSETS
Property, Plant & Equipment $2.101B $1.956B $1.098B
YoY Change 41.26% 78.14% 5.38%
Goodwill $2.691B $2.654B $2.548B
YoY Change 6.41% 4.12% 20.8%
Intangibles
YoY Change
Long-Term Investments $447.5M $428.0M $355.6M
YoY Change 9.47% 20.36%
Other Assets $934.8M $919.6M $675.2M
YoY Change 28.95% 36.21% 40.62%
Total Long-Term Assets $9.496B $9.134B $7.860B
YoY Change 14.39% 16.21% 16.0%
TOTAL ASSETS
Total Short-Term Assets $9.578B $10.01B $7.927B
Total Long-Term Assets $9.496B $9.134B $7.860B
Total Assets $19.07B $19.14B $15.79B
YoY Change 15.88% 21.24% 18.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $267.5M $277.0M $195.3M
YoY Change 48.54% 41.8% 75.75%
Accrued Expenses $3.006B $3.466B $2.905B
YoY Change 26.93% 19.3% 100.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.134B $51.00M $619.5M
YoY Change 82.96% -91.77% 1240.5%
Total Short-Term Liabilities $9.960B $8.752B $7.634B
YoY Change 19.95% 14.63% 37.36%
LONG-TERM LIABILITIES
Long-Term Debt $5.459B $6.546B $5.120B
YoY Change 3.32% 27.85% -9.97%
Other Long-Term Liabilities $488.2M $468.5M $345.3M
YoY Change 7.06% 35.67% 42.22%
Total Long-Term Liabilities $488.2M $468.5M $345.3M
YoY Change 7.06% 35.67% 42.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.960B $8.752B $7.634B
Total Long-Term Liabilities $488.2M $468.5M $345.3M
Total Liabilities $10.45B $9.220B $7.980B
YoY Change 19.28% 15.54% 37.56%
SHAREHOLDERS EQUITY
Retained Earnings -$2.408B -$2.197B -$2.768B
YoY Change -18.96% -20.63% -11.64%
Common Stock $2.298M $2.293M $2.271M
YoY Change 0.57% 0.97% 2.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.865M $6.865M $6.865M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity -$17.15M $221.8M -$74.56M
YoY Change
Total Liabilities & Shareholders Equity $19.07B $19.14B $15.79B
YoY Change 15.88% 21.24% 18.43%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$285.7M $483.5M $361.4M
YoY Change 8.15% 33.78% 670.94%
Depreciation, Depletion And Amortization $134.4M $130.7M $102.1M
YoY Change 2.21% 28.02% 0.65%
Cash From Operating Activities $608.4M -$884.4M -$619.1M
YoY Change -32.68% 42.86% 326.09%
INVESTING ACTIVITIES
Capital Expenditures $133.8M $103.9M -$76.34M
YoY Change -4.82% -236.09% 120.28%
Acquisitions
YoY Change
Other Investing Activities -$98.15M -$60.80M -$38.65M
YoY Change -65.49% 57.32% 44.17%
Cash From Investing Activities -$231.8M -$164.8M -$115.0M
YoY Change -45.45% 43.31% 87.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -132.2M -28.60M -37.58M
YoY Change -514.63% -23.9% -104.58%
NET CHANGE
Cash From Operating Activities 608.4M -884.4M -619.1M
Cash From Investing Activities -231.8M -164.8M -115.0M
Cash From Financing Activities -132.2M -28.60M -37.58M
Net Change In Cash 244.4M -1.078B -771.7M
YoY Change -52.14% 39.67% -225.66%
FREE CASH FLOW
Cash From Operating Activities $608.4M -$884.4M -$619.1M
Capital Expenditures $133.8M $103.9M -$76.34M
Free Cash Flow $474.6M -$988.3M -$542.7M
YoY Change -37.81% 82.1% 390.57%

Facts In Submission

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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1757584000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1851955000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
709727000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
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us-gaap Finite Lived Intangible Assets Purchase Accounting Adjustments
FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments
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us-gaap Amortization Of Intangible Assets
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FiniteLivedIntangibleAssetsAccumulatedAmortizationForeignCurrencyAdjustments
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121695000 usd
lyv Definite Lived Intangible Assets Total Accumulated Amortization
DefiniteLivedIntangibleAssetsTotalAccumulatedAmortization
56003000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1888881000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
765730000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1123151000 usd
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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P8Y
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
63400000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
48100000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
176100000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
150400000 usd
CY2022Q4 us-gaap Goodwill Gross
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2964743000 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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435363000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
2529380000 usd
us-gaap Goodwill Acquired During Period
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90765000 usd
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
376000 usd
us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
6183000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
39188000 usd
CY2023Q3 us-gaap Goodwill Gross
GoodwillGross
3088889000 usd
CY2023Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
435363000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
2653526000 usd
CY2023Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
427900000 usd
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
408800000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
63954000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
60003000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
206282000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
195514000 usd
CY2023Q3 lyv Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
85148000 usd
CY2022Q3 lyv Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
64548000 usd
lyv Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
157453000 usd
lyv Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
117441000 usd
CY2023Q3 us-gaap Sublease Income
SubleaseIncome
1865000 usd
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
1627000 usd
us-gaap Sublease Income
SubleaseIncome
6477000 usd
us-gaap Sublease Income
SubleaseIncome
3901000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
147237000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
122924000 usd
us-gaap Lease Cost
LeaseCost
357258000 usd
us-gaap Lease Cost
LeaseCost
309054000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
195945000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
177847000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
148960000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
289977000 usd
CY2023Q3 lyv Lessee Operating Leases Not Yet Commenced Value
LesseeOperatingLeasesNotYetCommencedValue
122900000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
6652095000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5955343000 usd
CY2023Q3 lyv Debt Instrument Unamortized Discountsand Debt Issuance Costs
DebtInstrumentUnamortizedDiscountsandDebtIssuanceCosts
55425000 usd
CY2022Q4 lyv Debt Instrument Unamortized Discountsand Debt Issuance Costs
DebtInstrumentUnamortizedDiscountsandDebtIssuanceCosts
51844000 usd
CY2023Q3 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
6596670000 usd
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
5903499000 usd
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
50609000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
620032000 usd
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
6546061000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
5283467000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
24581000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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1473511000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
49320000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1394829000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2153779000 usd
CY2023Q3 lyv Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
1556075000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
6652095000 usd
us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-18400000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
573696000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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503964000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
114754000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
102318000 usd
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
12242000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
228787263 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
225761777 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
228497712 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
224123130 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2371755 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6060991 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2252391 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7409515 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
13004660 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
11864035 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
4396292 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
8085275 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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244163678 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
243686803 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
235146395 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
239617920 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2365582 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1344069 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11355741 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5043211 shares
CY2023Q3 us-gaap Revenues
Revenues
8152019000 usd
CY2023Q3 lyv Adjusted Operating Income
AdjustedOperatingIncome
836063000 usd
CY2022Q3 us-gaap Revenues
Revenues
6153535000 usd
CY2022Q3 lyv Adjusted Operating Income
AdjustedOperatingIncome
620718000 usd
us-gaap Revenues
Revenues
16910132000 usd
lyv Adjusted Operating Income
AdjustedOperatingIncome
1745470000 usd
us-gaap Revenues
Revenues
12390517000 usd
lyv Adjusted Operating Income
AdjustedOperatingIncome
1309356000 usd
CY2023Q3 lyv Adjusted Operating Income
AdjustedOperatingIncome
836063000 usd
CY2022Q3 lyv Adjusted Operating Income
AdjustedOperatingIncome
620718000 usd
lyv Adjusted Operating Income
AdjustedOperatingIncome
1745470000 usd
lyv Adjusted Operating Income
AdjustedOperatingIncome
1309356000 usd
CY2023Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
40968000 usd
CY2022Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
7495000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
79108000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
29115000 usd
lyv Amortization Of Nonrecoupable Ticketing Contract Advances
AmortizationOfNonrecoupableTicketingContractAdvances
58518000 usd
lyv Amortization Of Nonrecoupable Ticketing Contract Advances
AmortizationOfNonrecoupableTicketingContractAdvances
56121000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
130653000 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
102093000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
382352000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
318489000 usd
CY2023Q3 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
1583000 usd
CY2022Q3 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
35285000 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
8092000 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
32555000 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
30572000 usd
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
24437000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
85905000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
86178000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
618532000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
506249000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
1147679000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
852008000 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
3100000000 usd
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
2800000000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
869060000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
903079000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2888270000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2384392000 usd

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