2022 Q1 Form 10-Q Financial Statement

#000082705422000025 Filed on February 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q3
Revenue $1.844B $1.758B $1.650B
YoY Change 25.7% 29.98% 25.99%
Cost Of Revenue $623.8M $604.2M $581.5M
YoY Change 15.45% 19.34% 15.93%
Gross Profit $1.220B $1.153B $1.068B
YoY Change 31.68% 36.36% 32.23%
Gross Profit Margin 66.18% 65.62% 64.75%
Selling, General & Admin $187.2M $177.5M $179.9M
YoY Change 13.39% 15.11% 24.33%
% of Gross Profit 15.34% 15.39% 16.84%
Research & Development $259.1M $245.4M $246.2M
YoY Change 13.39% 16.8% 23.22%
% of Gross Profit 21.23% 21.28% 23.05%
Depreciation & Amortization $293.2M $64.90M $43.70M
YoY Change 1.88% 61.04% 12.05%
% of Gross Profit 24.02% 5.63% 4.09%
Operating Expenses $661.8M $638.3M $652.0M
YoY Change 5.72% 6.35% 12.09%
Operating Profit $558.6M $515.0M $416.3M
YoY Change 85.7% 109.69% 84.04%
Interest Expense -$57.80M $62.10M $64.80M
YoY Change -25.03% -28.21% -30.55%
% of Operating Profit -10.35% 12.06% 15.57%
Other Income/Expense, Net -$700.0K $4.600M -$1.600M
YoY Change -22.22% -1250.0% -328.57%
Pretax Income $479.2M $441.5M $264.8M
YoY Change 231.86% 2527.98% 198.2%
Income Tax $41.30M $88.70M $22.80M
% Of Pretax Income 8.62% 20.09% 8.61%
Net Earnings $437.9M $352.8M $242.0M
YoY Change 277.5% 874.59% 228.8%
Net Earnings / Revenue 23.74% 20.07% 14.67%
Basic Earnings Per Share $0.64 $0.44
Diluted Earnings Per Share $774.6K $0.62 $0.43
COMMON SHARES
Basic Shares Outstanding 556.0M shares 554.9M shares 551.3M shares
Diluted Shares Outstanding 567.3M shares 565.9M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $319.4M $315.5M $255.3M
YoY Change 13.26% -15.42% -31.0%
Cash & Equivalents $317.4M $313.5M $253.3M
Short-Term Investments $2.000M $2.000M $2.000M
Other Short-Term Assets $206.2M $186.7M $194.6M
YoY Change 2.84% -15.1% 4.23%
Inventory $854.4M $768.2M $713.6M
Prepaid Expenses
Receivables $1.073B $930.1M $985.6M
Other Receivables $9.300M $13.80M $11.90M
Total Short-Term Assets $2.453B $2.201B $2.149B
YoY Change 14.33% 2.23% 1.27%
LONG-TERM ASSETS
Property, Plant & Equipment $967.9M $929.9M $923.7M
YoY Change 13.24% 12.39% 12.36%
Goodwill $6.674B $6.674B $6.674B
YoY Change 0.04% 0.04% 0.13%
Intangibles $4.043B $4.256B $4.480B
YoY Change -15.68% -15.31% -14.76%
Long-Term Investments
YoY Change
Other Assets $265.2M $265.4M $250.2M
YoY Change 0.34% -2.21% -7.74%
Total Long-Term Assets $13.75B $13.85B $14.07B
YoY Change -4.09% -4.0% -3.98%
TOTAL ASSETS
Total Short-Term Assets $2.453B $2.201B $2.149B
Total Long-Term Assets $13.75B $13.85B $14.07B
Total Assets $16.20B $16.05B $16.22B
YoY Change -1.69% -3.19% -3.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $344.7M $301.3M $302.6M
YoY Change 17.89% 15.97% 39.51%
Accrued Expenses $1.054B $917.4M $819.2M
YoY Change 32.73% 19.27% 7.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Short-Term Liabilities $1.399B $1.219B $1.122B
YoY Change -41.94% -51.68% -43.21%
LONG-TERM LIABILITIES
Long-Term Debt $7.687B $7.869B $8.201B
YoY Change 1.4% 2.89% 0.23%
Other Long-Term Liabilities $473.9M $441.8M $483.9M
YoY Change 13.62% 2.84% 13.94%
Total Long-Term Liabilities $8.161B $8.310B $8.685B
YoY Change 2.04% 2.88% 0.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.399B $1.219B $1.122B
Total Long-Term Liabilities $8.161B $8.310B $8.685B
Total Liabilities $9.560B $9.529B $9.806B
YoY Change -8.14% -10.1% -7.32%
SHAREHOLDERS EQUITY
Retained Earnings $4.175B $3.878B $3.654B
YoY Change 23.04% 14.6% 6.1%
Common Stock $2.537B $2.501B $2.471B
YoY Change 5.53% 4.85% -0.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $796.3M $552.7M $397.9M
YoY Change 83.56% 22.77% -14.8%
Treasury Stock Shares 23.30M shares 20.80M shares 19.60M shares
Shareholders Equity $5.895B $5.803B $5.703B
YoY Change
Total Liabilities & Shareholders Equity $16.20B $16.05B $16.22B
YoY Change -1.69% -3.19% -3.31%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q3
OPERATING ACTIVITIES
Net Income $437.9M $352.8M $242.0M
YoY Change 277.5% 874.59% 228.8%
Depreciation, Depletion And Amortization $293.2M $64.90M $43.70M
YoY Change 1.88% 61.04% 12.05%
Cash From Operating Activities $747.7M $853.4M $611.7M
YoY Change 66.45% 67.43% 34.2%
INVESTING ACTIVITIES
Capital Expenditures -$114.6M -$90.70M -$78.50M
YoY Change 106.86% 323.83% 1146.03%
Acquisitions
YoY Change
Other Investing Activities -$28.10M -$35.60M -$17.50M
YoY Change 260.26% 18.27% -50.56%
Cash From Investing Activities -$142.7M -$126.3M -$96.00M
YoY Change 125.79% 145.24% 130.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -601.1M -666.9M -540.1M
YoY Change 26.1% 46.31% 27.38%
NET CHANGE
Cash From Operating Activities 747.7M 853.4M 611.7M
Cash From Investing Activities -142.7M -126.3M -96.00M
Cash From Financing Activities -601.1M -666.9M -540.1M
Net Change In Cash 3.900M 60.20M -24.40M
YoY Change -104.3% 2408.33% 146.46%
FREE CASH FLOW
Cash From Operating Activities $747.7M $853.4M $611.7M
Capital Expenditures -$114.6M -$90.70M -$78.50M
Free Cash Flow $862.3M $944.1M $690.2M
YoY Change 70.89% 77.76% 49.36%

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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3400000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1700000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1200000000 USD
CY2021Q4 mchp Long Term Debt Maturities Repayments Of Principal After Year Four
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1743100000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
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8043100000 USD
us-gaap Debt Instrument Convertible If Converted Value In Excess Of Principal
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1000 USD
CY2021Q4 us-gaap Interest Expense Other
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1800000 USD
CY2020Q4 us-gaap Interest Expense Other
InterestExpenseOther
900000 USD
us-gaap Interest Expense Other
InterestExpenseOther
3700000 USD
us-gaap Interest Expense Other
InterestExpenseOther
3000000.0 USD
CY2021Q4 us-gaap Interest Expense
InterestExpense
62100000 USD
CY2020Q4 us-gaap Interest Expense
InterestExpense
86500000 USD
us-gaap Interest Expense
InterestExpense
199200000 USD
us-gaap Interest Expense
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CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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8422800000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2021Q1 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3549600000 USD
CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
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4794800000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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233100000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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743200000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
666000000.0 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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531000000.0 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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459800000 USD
CY2021Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
235700000 USD
CY2020Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
246600000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700500000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
745100000 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2021Q4 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2020Q4 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2021Q2 us-gaap Number Of Reporting Units
NumberOfReportingUnits
2 unit
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
936100000 USD
CY2021Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
1002900000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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6000000.0 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
5200000 USD
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
930100000 USD
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
997700000 USD
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
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150500000 USD
CY2021Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
115700000 USD
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
429900000 USD
CY2021Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
412800000 USD
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
187800000 USD
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
136500000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
768200000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
665000000.0 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3309400000 USD
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3096700000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2379500000 USD
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2242000000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
929900000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
854700000 USD
CY2021Q4 us-gaap Depreciation
Depreciation
64900000 USD
us-gaap Depreciation
Depreciation
149800000 USD
CY2020Q4 us-gaap Depreciation
Depreciation
40300000 USD
us-gaap Depreciation
Depreciation
120400000 USD
CY2021Q4 us-gaap Accrued Employee Benefits Current
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203700000 USD
CY2021Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
166700000 USD
CY2021Q4 us-gaap Taxes Payable Current
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80100000 USD
CY2021Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
43400000 USD
CY2021Q4 mchp Sales Related Reserves
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339100000 USD
CY2021Q1 mchp Sales Related Reserves
SalesRelatedReserves
350700000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
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35000000.0 USD
CY2021Q1 us-gaap Operating Lease Liability Current
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39800000 USD
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
259500000 USD
CY2021Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
193700000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
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917400000 USD
CY2021Q1 us-gaap Accrued Liabilities Current
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794300000 USD
CY2021Q4 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
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100000000 USD
CY2021Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
50900000 USD
CY2020Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
51200000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
163200000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
143300000 USD
CY2021Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10800000 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10700000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
34600000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
30500000 USD
CY2021Q4 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
40100000 USD
CY2020Q4 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
40500000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
128600000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
112800000 USD
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
4000000000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2000000 shares
CY2021Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2000000 shares
CY2021Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
166000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
166000000 USD
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
3830000000 USD
CY2021Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
20800000 shares
CY2021Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.232
CY2021Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
128700000 USD

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