2024 Q2 Form 10-Q Financial Statement

#000008943924000025 Filed on April 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $997.7M $849.7M $732.4M
YoY Change 2.73% -16.55%
Cost Of Revenue $725.0M $608.7M $536.4M
YoY Change 6.8% -13.6%
Gross Profit $272.8M $241.0M $196.0M
YoY Change -6.72% -23.67%
Gross Profit Margin 27.34% 28.36% 26.76%
Selling, General & Admin $52.73M $48.36M $51.18M
YoY Change 0.19% -7.99%
% of Gross Profit 19.33% 20.07% 26.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.02M $9.169M $9.724M
YoY Change -6.0% -10.19%
% of Gross Profit 3.67% 3.81% 4.96%
Operating Expenses $52.73M $48.36M $60.43M
YoY Change 0.19% -8.94%
Operating Profit $210.0M $183.4M $135.6M
YoY Change -8.34% -28.81%
Interest Expense $14.28M $115.0K $34.43M
YoY Change 9883.22% -24011.11%
% of Operating Profit 6.8% 0.06% 25.4%
Other Income/Expense, Net -$1.356M $630.0K $673.0K
YoY Change -160.64% -92.33%
Pretax Income $222.9M $201.6M $177.9M
YoY Change -6.11% -4.34%
Income Tax $58.38M $51.83M $46.44M
% Of Pretax Income 26.19% 25.72% 26.11%
Net Earnings $160.2M $138.4M $119.2M
YoY Change -7.55% -14.16%
Net Earnings / Revenue 16.05% 16.28% 16.28%
Basic Earnings Per Share $1.44 $1.24 $1.07
Diluted Earnings Per Share $1.41 $1.21 $1.05
COMMON SHARES
Basic Shares Outstanding 113.6M shares 113.6M shares 113.5M shares
Diluted Shares Outstanding 114.0M shares 114.1M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $825.7M $1.358B $1.269B
YoY Change 5.53% 86.93%
Cash & Equivalents $825.7M $1.358B $1.171B
Short-Term Investments $0.00 $0.00 $98.15M
Other Short-Term Assets $50.35M $45.38M $39.17M
YoY Change 77.15% 47.82%
Inventory $406.2M $356.9M $380.2M
Prepaid Expenses
Receivables $522.6M $424.4M $351.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.805B $2.185B $2.040B
YoY Change 2.14% 32.93%
LONG-TERM ASSETS
Property, Plant & Equipment $471.4M $390.5M $420.3M
YoY Change 24.94% 10.63%
Goodwill $608.9M $151.2M $151.8M
YoY Change 284.97% -3.66%
Intangibles $43.47M $44.72M $46.21M
YoY Change -19.3% -15.66%
Long-Term Investments $77.45M $71.65M $83.44M
YoY Change 6.98% 15.3%
Other Assets $25.58M $17.69M $298.9M
YoY Change 22.03% 1382.35%
Total Long-Term Assets $1.261B $709.6M $719.3M
YoY Change 77.01% 1.63%
TOTAL ASSETS
Total Short-Term Assets $1.805B $2.185B $2.040B
Total Long-Term Assets $1.261B $709.6M $719.3M
Total Assets $3.066B $2.894B $2.759B
YoY Change 23.66% 23.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $198.5M $160.1M $120.5M
YoY Change 10.76% -5.87%
Accrued Expenses $8.000M $38.03M $7.893M
YoY Change -81.37% 59.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $785.0K $705.0K $796.0K
YoY Change -29.15% -1.85%
Total Short-Term Liabilities $387.2M $361.3M $317.1M
YoY Change -4.8% -8.95%
LONG-TERM LIABILITIES
Long-Term Debt $74.00K $130.0K $185.0K
YoY Change -94.08% -84.81%
Other Long-Term Liabilities $33.17M $10.04M $64.13M
YoY Change 100.99% 292.24%
Total Long-Term Liabilities $33.24M $10.17M $64.31M
YoY Change 87.25% 266.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $387.2M $361.3M $317.1M
Total Long-Term Liabilities $33.24M $10.17M $64.31M
Total Liabilities $493.3M $445.9M $421.9M
YoY Change 0.24% -1.54%
SHAREHOLDERS EQUITY
Retained Earnings $2.847B $2.710B $2.594B
YoY Change 28.5% 25.95%
Common Stock $1.604M $1.604M $1.604M
YoY Change 100.0% 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $568.5M $554.1M $523.4M
YoY Change 12.44% 4.1%
Treasury Stock Shares
Shareholders Equity $2.546B $2.424B $2.337B
YoY Change
Total Liabilities & Shareholders Equity $3.066B $2.894B $2.759B
YoY Change 23.66% 23.05%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $160.2M $138.4M $119.2M
YoY Change -7.55% -14.16%
Depreciation, Depletion And Amortization $10.02M $9.169M $9.724M
YoY Change -6.0% -10.19%
Cash From Operating Activities $100.8M $173.6M $174.3M
YoY Change -9.74% -15.83%
INVESTING ACTIVITIES
Capital Expenditures $9.197M $16.41M $14.52M
YoY Change 21.72% 79.68%
Acquisitions
YoY Change
Other Investing Activities -$573.5M $86.84M $55.50M
YoY Change -1075.89% -125.5%
Cash From Investing Activities -$582.7M $70.44M $40.98M
YoY Change -1237.86% -118.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $56.00K
YoY Change
Cash From Financing Activities -36.78M -$52.81M -25.51M
YoY Change 92.56% 19.4%
NET CHANGE
Cash From Operating Activities 100.8M $173.6M 174.3M
Cash From Investing Activities -582.7M $70.44M 40.98M
Cash From Financing Activities -36.78M -$52.81M -25.51M
Net Change In Cash -518.7M $190.6M 189.7M
YoY Change -454.54% -573.55%
FREE CASH FLOW
Cash From Operating Activities $100.8M $173.6M $174.3M
Capital Expenditures $9.197M $16.41M $14.52M
Free Cash Flow $91.55M $157.2M $159.7M
YoY Change -12.02% -19.71%

Facts In Submission

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CY2023Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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StockDividendIssued
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q1 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
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CY2024Q1 us-gaap Investment Income Interest
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UnrealizedGainLossOnInvestments
365000 usd
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OtherNonoperatingIncomeExpense
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1910000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
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237434000 usd
CY2024Q1 us-gaap Assets
Assets
2894242000 usd
CY2023Q4 us-gaap Assets
Assets
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CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2024Q1 us-gaap Inventory Raw Materials And Supplies
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InventoryRawMaterialsAndSupplies
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CY2024Q1 us-gaap Inventory Finished Goods
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205410000 usd
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13037000 usd
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380248000 usd
CY2024Q1 us-gaap Derivative Collateral Obligation To Return Cash
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6600000 usd
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DerivativeCollateralObligationToReturnCash
3200000 usd
CY2024Q1 mli Term Of Guarantees
TermOfGuarantees
P1Y
CY2024Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
28900000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.26
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0.26
CY2024Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
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5900000 usd
CY2024Q1 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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1500000 usd
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2100000 usd
CY2023Q2 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2023Q2 us-gaap Income Tax Reconciliation Other Adjustments
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CY2024Q1 us-gaap Insurance Settlements Receivable
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CY2024Q1 mli Insurance Advances Net
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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false

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