2024 Q1 Form 10-K Financial Statement

#000006850524000008 Filed on February 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.389B $2.848B $9.978B
YoY Change 20.02% 9.5%
Cost Of Revenue $1.197B $1.393B $5.008B
YoY Change 3.8% 2.56%
Gross Profit $1.192B $1.455B $4.970B
YoY Change 41.13% 17.52%
Gross Profit Margin 49.9% 51.09% 49.81%
Selling, General & Admin $397.0M $424.0M $1.548B
YoY Change 12.17% 6.76%
% of Gross Profit 33.31% 29.14% 31.15%
Research & Development $218.0M $218.0M $858.0M
YoY Change 10.66% 10.14%
% of Gross Profit 18.29% 14.98% 17.26%
Depreciation & Amortization $83.00M $85.00M $356.0M
YoY Change 88.89% -19.09%
% of Gross Profit 6.96% 5.84% 7.16%
Operating Expenses $615.0M $684.0M $2.619B
YoY Change 18.96% 17.5%
Operating Profit $519.0M $771.0M $2.351B
YoY Change 106.7% 41.54%
Interest Expense $61.00M -$52.00M -$203.0M
YoY Change -183.87% -184.58%
% of Operating Profit 11.75% -6.74% -8.63%
Other Income/Expense, Net -$609.0M $21.00M $71.00M
YoY Change -152.5% -148.63%
Pretax Income -$90.00M $707.0M $2.146B
YoY Change 112.31% 41.65%
Income Tax -$52.00M $111.0M $432.0M
% Of Pretax Income 15.7% 20.13%
Net Earnings -$39.00M $595.0M $1.709B
YoY Change 113.26% 25.39%
Net Earnings / Revenue -1.63% 20.89% 17.13%
Basic Earnings Per Share -$0.23 $10.23
Diluted Earnings Per Share -$0.23 $3.47 $9.93
COMMON SHARES
Basic Shares Outstanding 166.1M shares 166.0M shares 167.0M shares
Diluted Shares Outstanding 166.3M shares 172.1M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.512B $1.705B $1.705B
YoY Change 107.42% 28.68%
Cash & Equivalents $1.512B $1.705B $1.705B
Short-Term Investments
Other Short-Term Assets $450.0M $381.0M $381.0M
YoY Change 16.51% -0.52%
Inventory $840.0M $827.0M $827.0M
Prepaid Expenses
Receivables $1.592B $2.812B $2.812B
Other Receivables $95.00M $0.00 $0.00
Total Short-Term Assets $5.521B $5.725B $5.725B
YoY Change 21.63% 8.94%
LONG-TERM ASSETS
Property, Plant & Equipment $1.491B $1.459B $1.459B
YoY Change 21.18% 3.33%
Goodwill $3.410B $3.401B
YoY Change 19.29%
Intangibles
YoY Change
Long-Term Investments $12.00M $143.0M $143.0M
YoY Change 1000.0% -2.72%
Other Assets $287.0M $1.353B $1.353B
YoY Change 145.11% 0.52%
Total Long-Term Assets $7.805B $7.611B $7.611B
YoY Change 10.02% 0.69%
TOTAL ASSETS
Total Short-Term Assets $5.521B $5.725B $5.725B
Total Long-Term Assets $7.805B $7.611B $7.611B
Total Assets $13.33B $13.34B $13.34B
YoY Change 14.72% 4.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $822.0M $881.0M $881.0M
YoY Change -0.45% -17.04%
Accrued Expenses $1.601B $1.504B $1.504B
YoY Change 12.83% -8.18%
Deferred Revenue $1.890B $2.037B
YoY Change 31.5%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $313.0M $1.313B $1.313B
YoY Change 131200.0% 131200.0%
Total Short-Term Liabilities $4.626B $5.736B $5.736B
YoY Change 52.23% 25.79%
LONG-TERM LIABILITIES
Long-Term Debt $5.994B $4.705B $4.705B
YoY Change -21.74% -21.75%
Other Long-Term Liabilities $1.722B $2.156B $2.156B
YoY Change 11.31% 2.18%
Total Long-Term Liabilities $7.716B $6.861B $6.861B
YoY Change -13.69% -15.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.626B $5.736B $5.736B
Total Long-Term Liabilities $7.716B $6.861B $6.861B
Total Liabilities $12.34B $12.61B $12.61B
YoY Change 7.64% -0.68%
SHAREHOLDERS EQUITY
Retained Earnings $1.399B $1.640B
YoY Change 65.82%
Common Stock $1.675B $1.624B
YoY Change 30.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $521.0M $724.0M $724.0M
YoY Change
Total Liabilities & Shareholders Equity $13.33B $13.34B $13.34B
YoY Change 14.72% 4.07%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$39.00M $595.0M $1.709B
YoY Change 113.26% 25.39%
Depreciation, Depletion And Amortization $83.00M $85.00M $356.0M
YoY Change 88.89% -19.09%
Cash From Operating Activities $382.0M $1.245B $2.044B
YoY Change 220.88% 12.12%
INVESTING ACTIVITIES
Capital Expenditures $46.00M $81.00M $253.0M
YoY Change -215.71% -1.17%
Acquisitions
YoY Change
Other Investing Activities -$1.000M -$161.0M -$161.0M
YoY Change -2112.5% -85.76%
Cash From Investing Activities -$47.00M -$242.0M -$414.0M
YoY Change 290.32% -70.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$700.0M
YoY Change -202.94%
Debt Paid & Issued, Net $1.593B $1.000M
YoY Change -99.65%
Cash From Financing Activities -$512.0M -252.0M -1.295B
YoY Change 80.0% 42.94%
NET CHANGE
Cash From Operating Activities $382.0M 1.245B 2.044B
Cash From Investing Activities -$47.00M -242.0M -414.0M
Cash From Financing Activities -$512.0M -252.0M -1.295B
Net Change In Cash -$193.0M 751.0M 335.0M
YoY Change 303.76% -161.02%
FREE CASH FLOW
Cash From Operating Activities $382.0M $1.245B $2.044B
Capital Expenditures $46.00M $81.00M $253.0M
Free Cash Flow $336.0M $1.164B $1.791B
YoY Change 154.15% 14.29%

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