2024 Q1 Form 10-K Financial Statement

#000162828024012734 Filed on March 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2024
Revenue $8.375B $23.87B
YoY Change -1.77% -5.69%
Cost Of Revenue $5.076B $14.14B
YoY Change -6.86% -7.6%
Gross Profit $3.299B $9.723B
YoY Change 7.25% -2.76%
Gross Profit Margin 39.39% 40.74%
Selling, General & Admin $2.405B $8.375B
YoY Change 0.25% 0.7%
% of Gross Profit 72.9% 86.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $232.0M $897.0M
YoY Change 5.94% 4.67%
% of Gross Profit 7.03% 9.23%
Operating Expenses $2.405B $8.375B
YoY Change 0.25% 0.7%
Operating Profit $894.0M $1.348B
YoY Change 32.05% -19.86%
Interest Expense -$27.00M -$135.0M
YoY Change -12.9% -16.67%
% of Operating Profit -3.02% -10.01%
Other Income/Expense, Net $1.000M $11.00M
YoY Change -200.0% -45.0%
Pretax Income -$103.0M $124.0M
YoY Change -116.17% -91.83%
Income Tax -$32.00M $19.00M
% Of Pretax Income 15.32%
Net Earnings -$71.00M $105.0M
YoY Change -113.98% -91.08%
Net Earnings / Revenue -0.85% 0.44%
Basic Earnings Per Share $0.38
Diluted Earnings Per Share -$0.26 $0.38
COMMON SHARES
Basic Shares Outstanding 274.3M shares 274.2M shares
Diluted Shares Outstanding 278.2M shares

Balance Sheet

Concept 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.034B $1.034B
YoY Change 19.95% 19.95%
Cash & Equivalents $1.034B $1.034B
Short-Term Investments
Other Short-Term Assets $401.0M $401.0M
YoY Change -5.42% -5.42%
Inventory $4.361B $4.361B
Prepaid Expenses $401.0M
Receivables $293.0M $293.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.089B $6.089B
YoY Change 4.03% 4.03%
LONG-TERM ASSETS
Property, Plant & Equipment $7.613B $7.613B
YoY Change -11.44% -11.44%
Goodwill $828.0M
YoY Change 0.0%
Intangibles $806.0M
YoY Change -3.47%
Long-Term Investments
YoY Change
Other Assets $1.286B $1.286B
YoY Change 11.15% 11.15%
Total Long-Term Assets $10.16B $10.16B
YoY Change -7.77% -7.77%
TOTAL ASSETS
Total Short-Term Assets $6.089B $6.089B
Total Long-Term Assets $10.16B $10.16B
Total Assets $16.25B $16.25B
YoY Change -3.68% -3.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.347B $4.347B
YoY Change -9.49% -9.49%
Accrued Expenses $2.434B $1.605B
YoY Change -11.49% -20.62%
Deferred Revenue $384.0M
YoY Change -3.76%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M
YoY Change 0.0%
Total Short-Term Liabilities $4.430B $4.430B
YoY Change -8.87% -8.87%
LONG-TERM LIABILITIES
Long-Term Debt $2.998B $2.998B
YoY Change 0.07% 0.07%
Other Long-Term Liabilities $3.936B $3.936B
YoY Change -1.11% -1.11%
Total Long-Term Liabilities $6.934B $6.934B
YoY Change -0.6% -0.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.430B $4.430B
Total Long-Term Liabilities $6.934B $6.934B
Total Liabilities $12.11B $12.11B
YoY Change -5.28% -5.28%
SHAREHOLDERS EQUITY
Retained Earnings $6.190B
YoY Change -1.24%
Common Stock $355.0M
YoY Change -24.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.137B $4.137B
YoY Change
Total Liabilities & Shareholders Equity $16.25B $16.25B
YoY Change -3.68% -3.68%

Cashflow Statement

Concept 2024 Q1 2024
OPERATING ACTIVITIES
Net Income -$71.00M $105.0M
YoY Change -113.98% -91.08%
Depreciation, Depletion And Amortization $232.0M $897.0M
YoY Change 5.94% 4.67%
Cash From Operating Activities $1.147B $1.305B
YoY Change 1.77% -19.2%
INVESTING ACTIVITIES
Capital Expenditures $244.0M $993.0M
YoY Change -21.79% -23.32%
Acquisitions
YoY Change
Other Investing Activities $47.00M $80.00M
YoY Change 291.67% -36.51%
Cash From Investing Activities -$197.0M -$913.0M
YoY Change -34.33% -21.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$38.00M
YoY Change -93.68%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -280.0M -220.0M
YoY Change -3.78% -83.02%
NET CHANGE
Cash From Operating Activities 1.147B 1.305B
Cash From Investing Activities -197.0M -913.0M
Cash From Financing Activities -280.0M -220.0M
Net Change In Cash 670.0M 172.0M
YoY Change 25.0% -120.24%
FREE CASH FLOW
Cash From Operating Activities $1.147B $1.305B
Capital Expenditures $244.0M $993.0M
Free Cash Flow $903.0M $312.0M
YoY Change 10.8% -2.5%

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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company's fiscal year ends on the Saturday closest to January 31. Fiscal years 2023, 2022 and 2021 ended on February 3, 2024, January 28, 2023 and January 29, 2022, respectively. Fiscal year 2023 included 53 weeks and fiscal years 2022 and 2021 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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