2023 Q1 Form 10-K Financial Statement

#000162828023009154 Filed on March 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2023
Revenue $8.526B $25.31B
YoY Change -4.52% 3.45%
Cost Of Revenue $5.450B $15.31B
YoY Change -1.04% 2.34%
Gross Profit $3.076B $9.999B
YoY Change -10.14% 5.21%
Gross Profit Margin 36.08% 39.51%
Selling, General & Admin $2.399B $8.317B
YoY Change -1.24% 3.36%
% of Gross Profit 77.99% 83.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $219.0M $857.0M
YoY Change 6.31% -1.95%
% of Gross Profit 7.12% 8.57%
Operating Expenses $2.399B $8.317B
YoY Change -1.24% 3.36%
Operating Profit $677.0M $1.682B
YoY Change -31.89% 15.44%
Interest Expense -$31.00M -$162.0M
YoY Change -29.55% -163.28%
% of Operating Profit -4.58% -9.63%
Other Income/Expense, Net -$1.000M $20.00M
YoY Change -105.88% -69.7%
Pretax Income $637.0M $1.518B
YoY Change -35.13% -18.65%
Income Tax $129.0M $341.0M
% Of Pretax Income 20.25% 22.46%
Net Earnings $508.0M $1.177B
YoY Change -31.63% -17.69%
Net Earnings / Revenue 5.96% 4.65%
Basic Earnings Per Share $4.28
Diluted Earnings Per Share $1.82 $4.19
COMMON SHARES
Basic Shares Outstanding 271.4M shares 274.7M shares
Diluted Shares Outstanding 281.1M shares

Balance Sheet

Concept 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $862.0M $862.0M
YoY Change -49.65% -49.65%
Cash & Equivalents $862.0M $862.0M
Short-Term Investments
Other Short-Term Assets $424.0M $424.0M
YoY Change 15.85% 15.85%
Inventory $4.267B $4.267B
Prepaid Expenses $424.0M
Receivables $300.0M $300.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.853B $5.853B
YoY Change -13.39% -13.39%
LONG-TERM ASSETS
Property, Plant & Equipment $8.596B $8.596B
YoY Change 51.74% 1.45%
Goodwill $828.0M
YoY Change 0.0%
Intangibles $835.0M
YoY Change -0.36%
Long-Term Investments
YoY Change
Other Assets $1.157B $1.157B
YoY Change 5.57% 97.78%
Total Long-Term Assets $11.01B $11.01B
YoY Change 1.67% 1.67%
TOTAL ASSETS
Total Short-Term Assets $5.853B $5.853B
Total Long-Term Assets $11.01B $11.01B
Total Assets $16.87B $16.87B
YoY Change -4.12% -4.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.803B $4.803B
YoY Change 116.16% 46.43%
Accrued Expenses $2.750B $2.022B
YoY Change -10.89% 10.49%
Deferred Revenue $399.0M
YoY Change -17.05%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M
YoY Change 0.0%
Total Short-Term Liabilities $4.861B $4.861B
YoY Change -10.25% -10.25%
LONG-TERM LIABILITIES
Long-Term Debt $2.996B $2.996B
YoY Change -9.07% -9.54%
Other Long-Term Liabilities $3.980B $3.980B
YoY Change 238.15% -6.53%
Total Long-Term Liabilities $6.976B $6.976B
YoY Change 492.69% -7.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.861B $4.861B
Total Long-Term Liabilities $6.976B $6.976B
Total Liabilities $12.78B $12.78B
YoY Change 93.9% -8.48%
SHAREHOLDERS EQUITY
Retained Earnings $6.268B
YoY Change 18.98%
Common Stock $470.0M
YoY Change -9.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.082B $4.082B
YoY Change
Total Liabilities & Shareholders Equity $16.87B $16.87B
YoY Change -4.12% -4.12%

Cashflow Statement

Concept 2023 Q1 2023
OPERATING ACTIVITIES
Net Income $508.0M $1.177B
YoY Change -31.63% -17.69%
Depreciation, Depletion And Amortization $219.0M $857.0M
YoY Change 6.31% -1.95%
Cash From Operating Activities $1.127B $1.615B
YoY Change -39.76% -40.45%
INVESTING ACTIVITIES
Capital Expenditures $312.0M $1.295B
YoY Change -247.17% 265.82%
Acquisitions
YoY Change
Other Investing Activities $12.00M $126.0M
YoY Change -73.33% -300.0%
Cash From Investing Activities -$300.0M -$1.169B
YoY Change 79.64% 215.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 -$601.0M
YoY Change -220.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -291.0M -1.296B
YoY Change -6.13% -45.57%
NET CHANGE
Cash From Operating Activities 1.127B 1.615B
Cash From Investing Activities -300.0M -1.169B
Cash From Financing Activities -291.0M -1.296B
Net Change In Cash 536.0M -850.0M
YoY Change -61.55% 2079.49%
FREE CASH FLOW
Cash From Operating Activities $1.127B $1.615B
Capital Expenditures $312.0M $1.295B
Free Cash Flow $815.0M $320.0M
YoY Change -60.87% -86.43%

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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span></div><div style="margin-top:6pt;text-indent:36pt"><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 Saturday closest to January 31. Fiscal years 2022, 2021 and 2020 ended on January 28, 2023, January 29, 2022 and January 30, 2021, respectively, and included 52 weeks. References to years in the Consolidated Financial Statements relate to fiscal years rather than calendar years.</span></div>
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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications </span></div><div style="margin-top:10pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications were made to prior years' amounts to conform with the classifications of such amounts in the most recent years.</span></div>
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CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
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1000000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
CY2023Q1 us-gaap Common Stock Shares Issued
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CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2022Q1 us-gaap Common Stock Shares Issued
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333600000 shares
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
292400000 shares
CY2023Q1 m Common Stock Voting Rights Number Of Votes Per Share
CommonStockVotingRightsNumberOfVotesPerShare
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CY2020Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
333606000 shares
CY2020Q1 us-gaap Treasury Stock Common Shares
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CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2021 us-gaap Stock Issued During Period Shares Share Based Compensation
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CY2021 us-gaap Treasury Stock Shares Acquired
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CY2021 us-gaap Deferred Compensation Arrangement With Individual Shares Issued
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333606000 shares
CY2021Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2021Q1 us-gaap Common Stock Shares Outstanding
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CY2022Q1 us-gaap Common Stock Shares Issued
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Basic
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CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2023Q1 us-gaap Treasury Stock Common Shares
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CY2023Q1 us-gaap Common Stock Shares Outstanding
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CY2023Q1 us-gaap Investments Fair Value Disclosure
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CY2022Q1 us-gaap Investments Fair Value Disclosure
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CY2023Q1 us-gaap Debt Instrument Carrying Amount
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CY2023Q1 us-gaap Long Term Debt
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CY2023Q1 us-gaap Long Term Debt Fair Value
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CY2022Q1 us-gaap Debt Instrument Carrying Amount
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CY2022Q1 us-gaap Long Term Debt
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CY2022Q1 us-gaap Long Term Debt Fair Value
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CY2023 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Weighted Average Number Of Shares Issued Basic
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
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CY2021 us-gaap Net Income Loss
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CY2021 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
310200000 shares
CY2023 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
1000000.0 shares
CY2022 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
1000000.0 shares
CY2021 us-gaap Weighted Average Number Of Shares Contingently Issuable
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1000000.0 shares
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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7200000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
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1177000000 usd
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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281100000 shares
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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1430000000 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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314000000.0 shares
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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311100000 shares
CY2023 us-gaap Earnings Per Share Diluted
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4.19
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.55
CY2021 us-gaap Earnings Per Share Diluted
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CY2023Q1 us-gaap Purchase Obligation
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2600000000 usd
CY2022Q1 us-gaap Purchase Obligation
PurchaseObligation
3200000000 usd
CY2023 us-gaap Longterm Purchase Commitment Period
LongtermPurchaseCommitmentPeriod
P1Y

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m-20230128_lab.xml Edgar Link unprocessable
m-20230128_pre.xml Edgar Link unprocessable
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