2021 Q4 Form 10-K Financial Statement

#000076418022000019 Filed on February 25, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021
Revenue $6.255B $6.786B $26.01B
YoY Change -0.78% -4.73% -0.54%
Cost Of Revenue $2.940B $1.858B $7.119B
YoY Change -6.43% -5.25% -8.94%
Gross Profit $3.315B $3.673B $13.99B
YoY Change 5.37% -1.18% 7.44%
Gross Profit Margin 53.0% 54.13% 53.79%
Selling, General & Admin $644.0M $556.0M $2.229B
YoY Change 196.77% 6.51% 35.58%
% of Gross Profit 19.43% 15.14% 15.93%
Research & Development $145.0M
YoY Change 10.69%
% of Gross Profit 1.04%
Depreciation & Amortization $54.00M $62.00M $244.0M
YoY Change -16.92% 0.0% -5.06%
% of Gross Profit 1.63% 1.69% 1.74%
Operating Expenses $644.0M $556.0M $145.0M
YoY Change 196.77% 6.51% 10.69%
Operating Profit $2.671B $2.951B $11.56B
YoY Change -8.81% -6.61% 6.32%
Interest Expense -$480.0M -$6.175B $1.188B
YoY Change 300.0% 689.64% -2.86%
% of Operating Profit -17.97% -209.25% 10.28%
Other Income/Expense, Net $50.00M $63.00M $202.0M
YoY Change 163.16% 2000.0% 162.34%
Pretax Income $2.280B -$3.302B $3.824B
YoY Change -10.27% 919.14% -44.5%
Income Tax $656.0M -$582.0M $1.349B
% Of Pretax Income 28.77% 35.28%
Net Earnings $1.624B -$2.722B $2.475B
YoY Change -15.59% 185.92% -44.59%
Net Earnings / Revenue 25.96% -40.11% 9.51%
Basic Earnings Per Share -$1.48 $1.34
Diluted Earnings Per Share $886.0K -$1.48 $1.34
COMMON SHARES
Basic Shares Outstanding 1.837B shares 1.842B shares 1.845B shares
Diluted Shares Outstanding 1.842B shares 1.845B shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.544B $2.957B $4.544B
YoY Change -8.11% -28.28% -8.11%
Cash & Equivalents $4.544B $2.957B $4.544B
Short-Term Investments
Other Short-Term Assets $298.0M $404.0M $298.0M
YoY Change 331.88% 53.61% 331.88%
Inventory $1.194B $1.133B $1.194B
Prepaid Expenses
Receivables $47.00M $36.00M $47.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.083B $6.020B $6.083B
YoY Change -14.53% -5.92% -14.53%
LONG-TERM ASSETS
Property, Plant & Equipment $1.553B $1.518B $1.553B
YoY Change -22.81% -24.44% -22.81%
Goodwill $5.177B $5.177B
YoY Change 0.0% 0.0%
Intangibles $12.31B $12.33B
YoY Change -2.45% -2.43%
Long-Term Investments $13.48B $13.87B $13.48B
YoY Change -30.97% -28.51% -30.97%
Other Assets $923.0M $649.0M $923.0M
YoY Change -4.25% -36.68% -4.25%
Total Long-Term Assets $33.44B $33.54B $33.44B
YoY Change -17.02% -16.67% -17.02%
TOTAL ASSETS
Total Short-Term Assets $6.083B $6.020B $6.083B
Total Long-Term Assets $33.44B $33.54B $33.44B
Total Assets $39.52B $39.56B $39.52B
YoY Change -16.64% -15.19% -16.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $449.0M $266.0M $449.0M
YoY Change 18.16% -23.56% 18.16%
Accrued Expenses $5.091B $4.525B $5.091B
YoY Change -3.58% -1.42% -3.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.105B $1.105B $1.105B
YoY Change -26.33% -26.33% -26.33%
Total Short-Term Liabilities $8.579B $8.112B $8.579B
YoY Change -5.34% -2.15% -5.34%
LONG-TERM LIABILITIES
Long-Term Debt $26.94B $27.02B $26.94B
YoY Change -3.69% -2.64% -3.69%
Other Long-Term Liabilities $283.0M $307.0M $1.919B
YoY Change -25.72% -24.94% -33.44%
Total Long-Term Liabilities $27.22B $27.33B $28.86B
YoY Change -3.99% -2.96% -6.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.579B $8.112B $8.579B
Total Long-Term Liabilities $27.22B $27.33B $28.86B
Total Liabilities $41.13B $40.79B $41.13B
YoY Change -7.47% -5.97% -7.73%
SHAREHOLDERS EQUITY
Retained Earnings $30.66B $30.69B
YoY Change -11.58% -10.69%
Common Stock $6.792B $6.781B
YoY Change -0.77% -1.84%
Preferred Stock
YoY Change
Treasury Stock (at cost) $36.01B $35.30B
YoY Change 4.84% 2.79%
Treasury Stock Shares 982.8M shares
Shareholders Equity -$1.606B -$1.267B -$1.606B
YoY Change
Total Liabilities & Shareholders Equity $39.52B $39.56B $39.52B
YoY Change -16.64% -15.19% -16.64%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021
OPERATING ACTIVITIES
Net Income $1.624B -$2.722B $2.475B
YoY Change -15.59% 185.92% -44.59%
Depreciation, Depletion And Amortization $54.00M $62.00M $244.0M
YoY Change -16.92% 0.0% -5.06%
Cash From Operating Activities $2.663B $3.063B $8.405B
YoY Change 4.8% 241.09% 0.24%
INVESTING ACTIVITIES
Capital Expenditures -$67.00M -$49.00M $169.0M
YoY Change -2.9% -12.5% -26.84%
Acquisitions $0.00
YoY Change
Other Investing Activities $1.321B $16.00M -$205.0M
YoY Change 3903.03% 33.33% 132.95%
Cash From Investing Activities $1.254B -$33.00M $1.212B
YoY Change -3583.33% -25.0% -947.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.675B
YoY Change
Debt Paid & Issued, Net $6.542B
YoY Change 554.2%
Cash From Financing Activities -2.361B -1.919B -$10.03B
YoY Change 40.29% 22.7% 85.86%
NET CHANGE
Cash From Operating Activities 2.663B 3.063B $8.405B
Cash From Investing Activities 1.254B -33.00M $1.212B
Cash From Financing Activities -2.361B -1.919B -$10.03B
Net Change In Cash 1.556B 1.111B -$412.0M
YoY Change 89.29% -256.48% -114.48%
FREE CASH FLOW
Cash From Operating Activities $2.663B $3.063B $8.405B
Capital Expenditures -$67.00M -$49.00M $169.0M
Free Cash Flow $2.730B $3.112B $8.236B
YoY Change 4.6% 226.21% 1.01%

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CY2020 mo Effective Income Tax Rate Reconciliation Tax Basis In Foreign Investments
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CY2021 mo Other Comprehensive Income Loss Adjustmentfrom Aoci Pension Other Postretirementand Postemployment Benefit Plansfor Net Prior Service Cost Creditbefore Tax
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CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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CY2019 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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CY2019 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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CY2019 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
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153000000 USD
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47 state
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CY2019Q4 us-gaap Loss Contingency Accrual At Carrying Value
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CY2019 us-gaap Loss Contingency Accrual Payments
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CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
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CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
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CY2019Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
14000000 USD
CY2021Q3 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
3000000 USD
CY2020Q4 mo Loss Contingency Number Of Complaints
LossContingencyNumberOfComplaints
3 complaint
CY2019Q4 mo Loss Contingency Number Of Shareholders Filing Class Action Lawsuits
LossContingencyNumberOfShareholdersFilingClassActionLawsuits
2 shareholder
CY2019Q4 mo Loss Contingency Number Of Shareholders Filing Class Action Lawsuits
LossContingencyNumberOfShareholdersFilingClassActionLawsuits
2 shareholder
CY2021 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
90000000 USD
CY2021 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
90000000 USD
CY2020Q3 mo Loss Contingency Number Of Shareholders Filing Derivative Lawsuits
LossContingencyNumberOfShareholdersFilingDerivativeLawsuits
2 shareholder
mo Loss Contingency Number Of Shareholders Filing Derivative Lawsuits
LossContingencyNumberOfShareholdersFilingDerivativeLawsuits
3 shareholder
CY2021Q2 mo Loss Contingency Number Of Pending Cases Consolidated
LossContingencyNumberOfPendingCasesConsolidated
5 claim
CY2021 mo Loss Contingency Number Of Shareholders Filing Derivative Lawsuits
LossContingencyNumberOfShareholdersFilingDerivativeLawsuits
6 shareholder
CY2021Q3 mo Loss Contingency Number Of States With Concluded Hearings
LossContingencyNumberOfStatesWithConcludedHearings
4 contract
CY2021Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
19000000 USD
CY2021 dei Auditor Name
AuditorName
PricewaterhouseCoopers LLP
CY2021 dei Auditor Location
AuditorLocation
Richmond, Virginia
CY2021 dei Auditor Firm
AuditorFirmId
238

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