2024 Q1 Form 10-K Financial Statement

#000105955624000017 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.786B $1.480B $5.916B
YoY Change 21.5% 14.73% 8.19%
Cost Of Revenue $467.0M $421.0M $1.687B
YoY Change 9.11% 2.68% 4.59%
Gross Profit $1.319B $1.059B $4.229B
YoY Change 26.58% 20.34% 9.7%
Gross Profit Margin 73.85% 71.55% 71.48%
Selling, General & Admin $413.0M $428.0M $1.632B
YoY Change 6.99% 6.2% 6.88%
% of Gross Profit 31.31% 40.42% 38.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0M $97.00M $373.0M
YoY Change 13.64% 8.99% 12.69%
% of Gross Profit 7.58% 9.16% 8.82%
Operating Expenses $413.0M $525.0M $1.632B
YoY Change 6.99% 6.71% -12.16%
Operating Profit $801.0M $534.0M $2.137B
YoY Change 44.58% 37.63% 7.01%
Interest Expense -$62.00M -$48.00M -$251.0M
YoY Change 29.17% -14.29% 29.38%
% of Operating Profit -7.74% -8.99% -11.75%
Other Income/Expense, Net -$49.00M $0.00 -$202.0M
YoY Change 2.08% -100.0% -20300.0%
Pretax Income $752.0M $450.0M $1.935B
YoY Change 48.62% 37.61% 9.94%
Income Tax $175.0M $110.0M $327.0M
% Of Pretax Income 23.27% 24.44% 16.9%
Net Earnings $577.0M $340.0M $1.607B
YoY Change 15.17% 38.21% 16.96%
Net Earnings / Revenue 32.31% 22.97% 27.16%
Basic Earnings Per Share $3.16 $8.77
Diluted Earnings Per Share $3.15 $1.85 $8.73
COMMON SHARES
Basic Shares Outstanding 182.5M shares 183.2M shares
Diluted Shares Outstanding 183.4M shares 184.0M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.534B $2.193B $2.193B
YoY Change 15.34% 17.97% 17.97%
Cash & Equivalents $2.476B $2.130B $2.130B
Short-Term Investments $58.00M $63.00M $63.00M
Other Short-Term Assets $437.0M $489.0M $489.0M
YoY Change -15.47% -16.12% -16.12%
Inventory
Prepaid Expenses $147.0M $133.0M
Receivables $1.835B $1.659B $1.659B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.806B $4.341B $4.341B
YoY Change 8.59% 6.03% 6.03%
LONG-TERM ASSETS
Property, Plant & Equipment $613.0M $603.0M $880.0M
YoY Change 16.76% -28.89% 3.77%
Goodwill $5.909B $5.956B
YoY Change 0.29% 2.0%
Intangibles $1.983B $2.049B
YoY Change -8.91% -7.29%
Long-Term Investments $187.0M $186.0M $621.0M
YoY Change -1.58% -0.53% 2.81%
Other Assets $1.170B $1.138B $1.396B
YoY Change 6.46% -16.2% 2.8%
Total Long-Term Assets $10.21B $10.28B $10.28B
YoY Change -0.85% 0.25% 0.25%
TOTAL ASSETS
Total Short-Term Assets $4.806B $4.341B $4.341B
Total Long-Term Assets $10.21B $10.28B $10.28B
Total Assets $15.01B $14.62B $14.62B
YoY Change 1.98% 1.9% 1.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $88.00M $23.00M $1.076B
YoY Change 25.71% -97.73% 6.43%
Accrued Expenses $525.0M $108.0M $108.0M
YoY Change -2.05% 1.89% 1.89%
Deferred Revenue $1.612B $1.316B
YoY Change 2.15% 4.61%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $685.0M $0.00
YoY Change 37.27%
Total Short-Term Liabilities $3.382B $2.500B $2.500B
YoY Change 13.19% 5.26% 5.26%
LONG-TERM LIABILITIES
Long-Term Debt $6.259B $7.001B $7.001B
YoY Change -10.11% -5.25% -5.25%
Other Long-Term Liabilities $635.0M $676.0M $1.243B
YoY Change 4.1% -53.02% -13.62%
Total Long-Term Liabilities $6.894B $7.677B $8.244B
YoY Change -8.97% -13.04% -6.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.382B $2.500B $2.500B
Total Long-Term Liabilities $6.894B $7.677B $8.244B
Total Liabilities $11.28B $11.15B $11.30B
YoY Change -3.3% -5.78% -4.45%
SHAREHOLDERS EQUITY
Retained Earnings $15.08B $14.66B
YoY Change 7.88% 7.64%
Common Stock $1.252B $1.228B
YoY Change 17.23% 16.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.575B $3.318B $3.318B
YoY Change
Total Liabilities & Shareholders Equity $15.01B $14.62B $14.62B
YoY Change 1.98% 1.9% 1.9%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $577.0M $340.0M $1.607B
YoY Change 15.17% 38.21% 16.96%
Depreciation, Depletion And Amortization $100.0M $97.00M $373.0M
YoY Change 13.64% 8.99% 12.69%
Cash From Operating Activities $775.0M $477.0M $2.151B
YoY Change 27.47% 26.53% 45.93%
INVESTING ACTIVITIES
Capital Expenditures $78.00M $73.00M $271.0M
YoY Change 6.85% -7.59% -4.24%
Acquisitions $12.00M $3.000M
YoY Change -96.91%
Other Investing Activities -$18.00M $19.00M $24.00M
YoY Change -280.0% -272.73% 14.29%
Cash From Investing Activities -$96.00M -$54.00M -$247.0M
YoY Change 52.38% -40.0% -5.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $490.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$308.0M -353.0M -$1.584B
YoY Change 42.59% 40.64% 31.13%
NET CHANGE
Cash From Operating Activities $775.0M 477.0M $2.151B
Cash From Investing Activities -$96.00M -54.00M -$247.0M
Cash From Financing Activities -$308.0M -353.0M -$1.584B
Net Change In Cash $346.0M 70.00M $361.0M
YoY Change -1.14% 94.44% -959.52%
FREE CASH FLOW
Cash From Operating Activities $775.0M $477.0M $2.151B
Capital Expenditures $78.00M $73.00M $271.0M
Free Cash Flow $697.0M $404.0M $1.880B
YoY Change 30.28% 35.57% 57.85%

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<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentration of credit risk principally consist of cash and cash equivalents, short-term investments, trade receivables and derivatives.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">For cash and cash equivalents, short-term investments and derivatives, the Company manages its credit exposure by limiting the amount of counterparty risk with any particular financial institution; limits are assigned to each counterparty based on perceived quality of credit and are monitored daily. Cash equivalents are held among various money market deposit accounts, money market </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">funds, and certificates of deposits as of December 31, 2023 and 2022. Short-term investments primarily consist of certificates of deposit as of December 31, 2023 and 2022. Derivatives primarily consist of foreign exchange forwards or swap contracts (interest rate swaps and cross-currency swaps) as of December 31, 2023 and 2022. For trade receivables, no customer accounted for 10% or more of accounts receivable at December 31, 2023 or 2022.</span></div>
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2023Q4 mco Deferred Tax Assets Accumulated Depreciation And Amortization Non Current
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CY2022Q4 mco Deferred Tax Assets Accumulated Depreciation And Amortization Non Current
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
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CY2023Q4 mco Deferred Tax Assets Capitalized Cost
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CY2022Q4 mco Deferred Tax Assets Capitalized Cost
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CY2023Q4 mco Deferred Tax Assets Operating Lease Liabilities
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CY2022Q4 mco Deferred Tax Assets Operating Lease Liabilities
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CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Restructuring Charges
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Restructuring Charges
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Contingencies
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Contingencies
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
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CY2022Q4 us-gaap Deferred Tax Assets Other
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CY2023Q4 us-gaap Deferred Tax Assets Gross
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CY2022Q4 us-gaap Deferred Tax Assets Gross
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CY2023Q4 mco Deferred Tax Liabilities Accumulated Depreciation And Amortization Non Current
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CY2022Q4 mco Deferred Tax Liabilities Accumulated Depreciation And Amortization Non Current
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CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2023Q4 us-gaap Deferred Tax Liabilities Investments
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CY2022Q4 us-gaap Deferred Tax Liabilities Investments
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CY2023Q4 us-gaap Deferred Tax Liabilities Deferred Expense Reserves And Accruals
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CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense Reserves And Accruals
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CY2023Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
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CY2022Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
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CY2023Q4 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
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CY2022Q4 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
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CY2023Q4 us-gaap Deferred Tax Liabilities Derivatives
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CY2022Q4 us-gaap Deferred Tax Liabilities Derivatives
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CY2022Q4 us-gaap Deferred Tax Liabilities Other
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
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CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
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CY2023Q4 mco Deferred Tax Assets Liabilities Net Before Valuation Allowance
DeferredTaxAssetsLiabilitiesNetBeforeValuationAllowance
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CY2022Q4 mco Deferred Tax Assets Liabilities Net Before Valuation Allowance
DeferredTaxAssetsLiabilitiesNetBeforeValuationAllowance
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2018Q3 us-gaap Tax Cuts And Jobs Act Of2017 Transition Tax For Accumulated Foreign Earnings Liability
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CY2023Q4 us-gaap Tax Cuts And Jobs Act Of2017 Transition Tax For Accumulated Foreign Earnings Liability Current
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CY2023 mco Unrecognized Tax Benefits Reduction Resulting From Lapse Of Applicable Statute Of Limitations And Settlement
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2020Q4 us-gaap Unrecognized Tax Benefits
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
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CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
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CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2023Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
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CY2022Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
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CY2021Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
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CY2023 mco Inflation Reduction Act Impact On Etr
InflationReductionActImpactOnETR
In August 2022, the U.S. Congress passed the Inflation Reduction Act, which included a corporate minimum tax on book earnings of 15%, an excise tax on corporate share repurchases of 1%, and certain climate change and energy tax credit incentives. The adoption of a corporate minimum tax of 15% did not have a significant impact on Moody’s ETR. The excise tax of 1% on corporate share buybacks is recorded to shareholders' equity and does not have an impact on the Company’s ETR.
CY2023Q4 us-gaap Debt Instrument Face Amount
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CY2023Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
183000000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
51000000 usd
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
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CY2023Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Debt Instrument Face Amount
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CY2022Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
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CY2022Q4 us-gaap Unamortized Debt Issuance Expense
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51000000 usd
CY2022Q4 us-gaap Long Term Debt
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7389000000 usd
CY2023 us-gaap Debt Instrument Covenant Compliance
DebtInstrumentCovenantCompliance
At December 31, 2023, the Company was in compliance with all covenants contained within all of the debt agreements. All of the debt agreements contain cross default provisions which state that default under one of the aforementioned debt instruments could in turn permit lenders under other debt instruments to declare borrowings outstanding under those instruments to be immediately due and payable. As of December 31, 2023, there were no such cross defaults.
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
500000000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
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CY2023Q4 us-gaap Debt Instrument Face Amount
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CY2023 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
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CY2022 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
216000000 usd
CY2021 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
185000000 usd
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
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CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
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CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
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CY2023 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
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CY2022 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
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CY2021 us-gaap Defined Benefit Plan Interest Cost
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CY2023 us-gaap Interest And Other Income
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CY2022 us-gaap Interest And Other Income
InterestAndOtherIncome
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CY2021 us-gaap Interest And Other Income
InterestAndOtherIncome
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CY2023 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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CY2022 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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CY2021 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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CY2023 us-gaap Interest Paid Net
InterestPaidNet
281000000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2023 mco Unrecognized Tax Benefits Decrease In Interest On Income Taxes Expense Due To Resolution Of Tax Matters
UnrecognizedTaxBenefitsDecreaseInInterestOnIncomeTaxesExpenseDueToResolutionOfTaxMatters
22000000 usd
CY2021 mco Income Tax Expense Benefit From Resolution Of Tax Matters
IncomeTaxExpenseBenefitFromResolutionOfTaxMatters
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CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.08
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.80
CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.80
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
7001000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
7389000000 usd
CY2023Q4 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
1020000000.00 shares
CY2023Q4 mco Shares Of All Classes Of Stock Par Value
SharesOfAllClassesOfStockParValue
0.01
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
The table below summarizes the Company’s remaining authority under its share repurchase program as of December 31, 2023:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:56.371%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.805%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.158%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.805%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.161%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Date Authorized</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amount Authorized</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remaining Authority</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">February 7, 2022</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">750 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">359 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table>
CY2023 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
800000 shares
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.77
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.77
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.70
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.70
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.62
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.62
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.77
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.77
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.70
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.70
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.62
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.62
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.77
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.77
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.70
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.70
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.62
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.62
CY2023Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.77
CY2023Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.77
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.70
CY2022Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.70
CY2021Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.62
CY2021Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.62
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.08
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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