$MCHP
Microchip Technology Inc

2022 Q4 Form 10-Q Financial Statement

#000082705422000193 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $2.169B $2.073B
YoY Change 23.43% 25.66%
Cost Of Revenue $698.4M $675.3M
YoY Change 15.59% 16.13%
Gross Profit $1.471B $1.398B
YoY Change 27.53% 30.85%
Gross Profit Margin 67.8% 67.43%
Selling, General & Admin $202.9M $202.4M
YoY Change 14.31% 12.51%
% of Gross Profit 13.8% 14.48%
Research & Development $282.4M $268.6M
YoY Change 15.08% 9.1%
% of Gross Profit 19.2% 19.21%
Depreciation & Amortization $55.30M $63.60M
YoY Change -14.79% 45.54%
% of Gross Profit 3.76% 4.55%
Operating Expenses $659.2M $642.8M
YoY Change 3.27% -1.41%
Operating Profit $811.6M $755.1M
YoY Change 57.59% 81.38%
Interest Expense $52.80M $53.30M
YoY Change -14.98% -17.75%
% of Operating Profit 6.51% 7.06%
Other Income/Expense, Net $2.600M -$800.0K
YoY Change -43.48% -50.0%
Pretax Income $762.2M $699.1M
YoY Change 72.64% 164.01%
Income Tax $181.9M $152.9M
% Of Pretax Income 23.87% 21.87%
Net Earnings $580.3M $546.2M
YoY Change 64.48% 125.7%
Net Earnings / Revenue 26.75% 26.35%
Basic Earnings Per Share $1.06 $0.99
Diluted Earnings Per Share $1.04 $0.98
COMMON SHARES
Basic Shares Outstanding 550.0M shares 552.5M shares
Diluted Shares Outstanding 555.4M shares 558.3M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $288.9M $306.8M
YoY Change -8.43% 20.17%
Cash & Equivalents $288.9M $304.8M
Short-Term Investments $0.00 $2.000M
Other Short-Term Assets $204.4M $205.7M
YoY Change 9.48% 5.7%
Inventory $1.165B $1.030B
Prepaid Expenses
Receivables $1.175B $1.133B
Other Receivables $12.90M $17.90M
Total Short-Term Assets $2.834B $2.676B
YoY Change 28.78% 24.52%
LONG-TERM ASSETS
Property, Plant & Equipment $1.114B $1.088B
YoY Change 19.77% 17.82%
Goodwill $6.674B $6.674B
YoY Change 0.0% 0.0%
Intangibles $3.545B $3.705B
YoY Change -16.72% -17.3%
Long-Term Investments
YoY Change
Other Assets $320.3M $306.0M
YoY Change 20.69% 22.3%
Total Long-Term Assets $13.28B $13.47B
YoY Change -4.08% -4.27%
TOTAL ASSETS
Total Short-Term Assets $2.834B $2.676B
Total Long-Term Assets $13.28B $13.47B
Total Assets $16.12B $16.14B
YoY Change 0.43% -0.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $354.8M $379.8M
YoY Change 17.76% 25.51%
Accrued Expenses $1.256B $1.160B
YoY Change 36.94% 41.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $998.6M
YoY Change
Total Short-Term Liabilities $1.611B $2.538B
YoY Change 32.2% 126.28%
LONG-TERM LIABILITIES
Long-Term Debt $6.589B $6.305B
YoY Change -16.26% -23.12%
Other Long-Term Liabilities $904.1M $486.4M
YoY Change 104.64% 0.52%
Total Long-Term Liabilities $7.493B $6.791B
YoY Change -9.84% -21.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.611B $2.538B
Total Long-Term Liabilities $7.493B $6.791B
Total Liabilities $9.104B $9.330B
YoY Change -4.46% -4.86%
SHAREHOLDERS EQUITY
Retained Earnings $5.356B $4.956B
YoY Change 38.11% 35.63%
Common Stock $2.381B $2.356B
YoY Change -4.81% -4.66%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.408B $1.197B
YoY Change 154.71% 200.93%
Treasury Stock Shares 30.00M shares 27.80M shares
Shareholders Equity $6.312B $6.103B
YoY Change
Total Liabilities & Shareholders Equity $16.12B $16.14B
YoY Change 0.43% -0.46%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $580.3M $546.2M
YoY Change 64.48% 125.7%
Depreciation, Depletion And Amortization $55.30M $63.60M
YoY Change -14.79% 45.54%
Cash From Operating Activities $1.278B $793.2M
YoY Change 49.74% 29.67%
INVESTING ACTIVITIES
Capital Expenditures $141.3M -$110.3M
YoY Change -255.79% 40.51%
Acquisitions
YoY Change
Other Investing Activities -$22.80M -$20.50M
YoY Change -35.96% 17.14%
Cash From Investing Activities -$164.1M -$130.8M
YoY Change 29.93% 36.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.130B -734.7M
YoY Change 69.4% 36.03%
NET CHANGE
Cash From Operating Activities 1.278B 793.2M
Cash From Investing Activities -164.1M -130.8M
Cash From Financing Activities -1.130B -734.7M
Net Change In Cash -15.90M -72.30M
YoY Change -126.41% 196.31%
FREE CASH FLOW
Cash From Operating Activities $1.278B $793.2M
Capital Expenditures $141.3M -$110.3M
Free Cash Flow $1.137B $903.5M
YoY Change 20.39% 30.9%

Facts In Submission

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CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
6200000 usd
CY2022Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1133200000 usd
CY2022Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1072600000 usd
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
192000000.0 usd
CY2022Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
163000000.0 usd
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
619200000 usd
CY2022Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
482800000 usd
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
219100000 usd
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
208600000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
1030300000 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
854400000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3651900000 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3416600000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2563600000 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2448700000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1088300000 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
967900000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
63600000 usd
us-gaap Depreciation
Depreciation
135300000 usd
CY2021Q3 us-gaap Depreciation
Depreciation
43700000 usd
us-gaap Depreciation
Depreciation
84900000 usd
CY2022Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
198400000 usd
CY2022Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
213700000 usd
CY2022Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
115600000 usd
CY2022Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
121500000 usd
CY2022Q3 mchp Sales Related Reserves
SalesRelatedReserves
486300000 usd
CY2022Q1 mchp Sales Related Reserves
SalesRelatedReserves
408100000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
32100000 usd
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
33800000 usd
CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
327600000 usd
CY2022Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
277200000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1160000000 usd
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1054300000 usd
CY2022Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
835300000 usd
CY2022Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
229600000 usd
CY2022Q3 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
130100000 usd
CY2022Q3 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
107300000 usd
CY2022Q3 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
96000000.0 usd
CY2022Q3 mchp Purchase Obligation To Be Paid Year After Year Four
PurchaseObligationToBePaidYearAfterYearFour
350100000 usd
CY2022Q3 us-gaap Purchase Obligation
PurchaseObligation
1748400000 usd
CY2022Q3 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
LossContingencyRangeOfPossibleLossPortionNotAccrued
100000000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41300000 usd
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
6500000 shares
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
55700000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
82500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
112300000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
8800000 usd
CY2021Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
11800000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
17600000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
23800000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
32500000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
43900000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
64900000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
88500000 usd
CY2021Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
4000000000 usd
CY2022Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3600000 shares
CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
247200000 usd
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
442400000 usd
CY2022Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
3130000000 usd
CY2022Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
27800000 shares
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.301
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
166100000 usd

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