2024 Q3 Form 10-Q Financial Statement

#000006850524000024 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $2.790B $2.628B
YoY Change 16.1% 21.05%
Cost Of Revenue $1.357B $1.289B
YoY Change 11.78% 14.58%
Gross Profit $1.433B $1.339B
YoY Change 20.52% 28.01%
Gross Profit Margin 51.36% 50.95%
Selling, General & Admin $439.0M $430.0M
YoY Change 12.56% 16.85%
% of Gross Profit 30.64% 32.11%
Research & Development $234.0M $220.0M
YoY Change 8.84% 4.76%
% of Gross Profit 16.33% 16.43%
Depreciation & Amortization $46.00M $47.00M
YoY Change -47.13% -52.04%
% of Gross Profit 3.21% 3.51%
Operating Expenses $673.0M $650.0M
YoY Change 1.36% 12.46%
Operating Profit $711.0M $644.0M
YoY Change 35.43% 61.4%
Interest Expense $73.00M $87.00M
YoY Change -240.38% 38.1%
% of Operating Profit 10.27% 13.51%
Other Income/Expense, Net -$16.00M -$64.00M
YoY Change -166.67% 56.1%
Pretax Income $695.0M $580.0M
YoY Change 42.71% 62.01%
Income Tax $132.0M $135.0M
% Of Pretax Income 18.99% 23.28%
Net Earnings $562.0M $443.0M
YoY Change 51.48% 59.35%
Net Earnings / Revenue 20.14% 16.86%
Basic Earnings Per Share $3.36 $2.65
Diluted Earnings Per Share $3.29 $2.60
COMMON SHARES
Basic Shares Outstanding 166.8M shares 166.8M shares
Diluted Shares Outstanding 170.9M shares 170.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.404B $1.381B
YoY Change 97.75% 35.13%
Cash & Equivalents $1.404B $1.381B
Short-Term Investments
Other Short-Term Assets $439.0M $415.0M
YoY Change 89.22% 15.92%
Inventory $816.0M $803.0M
Prepaid Expenses
Receivables $1.848B $1.762B
Other Receivables $70.00M $109.0M
Total Short-Term Assets $5.808B $5.571B
YoY Change 25.55% 15.44%
LONG-TERM ASSETS
Property, Plant & Equipment $1.575B $1.514B
YoY Change 11.46% 8.22%
Goodwill $3.523B $3.400B
YoY Change 6.92% 3.44%
Intangibles
YoY Change
Long-Term Investments $11.00M $11.00M
YoY Change -93.21% -15.38%
Other Assets $334.0M $300.0M
YoY Change -75.97% -6.83%
Total Long-Term Assets $8.081B $7.774B
YoY Change 5.97% 3.28%
TOTAL ASSETS
Total Short-Term Assets $5.808B $5.571B
Total Long-Term Assets $8.081B $7.774B
Total Assets $13.89B $13.35B
YoY Change 13.36% 8.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $872.0M $861.0M
YoY Change 28.99% 19.75%
Accrued Expenses $1.529B $1.366B
YoY Change 116.57% -5.99%
Deferred Revenue $1.942B $1.852B
YoY Change 10.09% 3.29%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $322.0M $565.0M
YoY Change 56400.0%
Total Short-Term Liabilities $4.665B $4.644B
YoY Change 23.87% 17.1%
LONG-TERM LIABILITIES
Long-Term Debt $5.674B $5.743B
YoY Change -5.67% -4.51%
Other Long-Term Liabilities $1.765B $1.720B
YoY Change -13.86% -0.35%
Total Long-Term Liabilities $7.439B $7.463B
YoY Change -7.75% -3.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.665B $4.644B
Total Long-Term Liabilities $7.439B $7.463B
Total Liabilities $12.10B $12.11B
YoY Change 1.59% 3.43%
SHAREHOLDERS EQUITY
Retained Earnings $1.974B $1.607B
YoY Change 48.09% 20.56%
Common Stock $1.822B $1.744B
YoY Change 25.57% 25.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.326B $802.0M
YoY Change
Total Liabilities & Shareholders Equity $13.89B $13.35B
YoY Change 13.36% 8.03%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $562.0M $443.0M
YoY Change 51.48% 59.35%
Depreciation, Depletion And Amortization $46.00M $47.00M
YoY Change -47.13% -52.04%
Cash From Operating Activities $759.0M $180.0M
YoY Change 716.13% -2350.0%
INVESTING ACTIVITIES
Capital Expenditures $57.00M $68.00M
YoY Change 7.55% 25.93%
Acquisitions
YoY Change
Other Investing Activities -$225.0M -$3.000M
YoY Change 4400.0% -400.0%
Cash From Investing Activities -$282.0M -$71.00M
YoY Change 386.21% 33.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -491.0M -231.0M
YoY Change 34.15% -12.17%
NET CHANGE
Cash From Operating Activities 759.0M 180.0M
Cash From Investing Activities -282.0M -71.00M
Cash From Financing Activities -491.0M -231.0M
Net Change In Cash -14.00M -122.0M
YoY Change -95.77% -59.74%
FREE CASH FLOW
Cash From Operating Activities $759.0M $180.0M
Capital Expenditures $57.00M $68.00M
Free Cash Flow $702.0M $112.0M
YoY Change 1655.0% -280.65%

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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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CY2023Q4 us-gaap Money Market Funds At Carrying Value
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CY2024Q2 msi Long Term Receivables Sales Proceeds
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CY2024Q2 msi Service Obligation For Long Term Receivables
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CY2023Q4 msi Service Obligation For Long Term Receivables
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CY2021Q3 msi Litigation Settlement Amount Awarded From Other Party Cost
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CY2021Q4 msi Litigation Settlement Amount Awarded From Other Party Attorneys Fees
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CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2024Q2 us-gaap Restructuring Settlement And Impairment Provisions
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us-gaap Restructuring Settlement And Impairment Provisions
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us-gaap Restructuring Charges
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us-gaap Restructuring Reserve Accrual Adjustment1
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us-gaap Payments For Restructuring
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msi Restructuring Charges Employees
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us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2024Q2 msi Finite Lived Intangible Asset Expected Amortization Current Fiscal Year
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2023Q4 us-gaap Goodwill
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us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2024Q2 us-gaap Goodwill
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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Files In Submission

Name View Source Status
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exhibit101q22024-descripti.htm Edgar Link pending
exhibit31q22024-restatedce.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable