2023 Q1 Form 10-K Financial Statement

#000001561523000009 Filed on March 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.585B $3.008B $9.778B
YoY Change 32.25% 66.27% 22.97%
Cost Of Revenue $2.359B $2.637B $8.586B
YoY Change 36.13% 69.12% 26.16%
Gross Profit $225.2M $371.3M $1.192B
YoY Change 1.85% 48.48% 3.98%
Gross Profit Margin 8.71% 12.34% 12.19%
Selling, General & Admin $130.9M $155.2M $559.4M
YoY Change 48.11% 242.86% 106.46%
% of Gross Profit 58.14% 41.8% 46.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $149.2M $162.4M $507.1M
YoY Change 34.66% 52.98% 19.94%
% of Gross Profit 66.26% 43.74% 42.55%
Operating Expenses $273.9M $318.2M $1.065B
YoY Change 34.98% 136.57% 60.57%
Operating Profit -$48.74M $53.14M $126.5M
YoY Change -368.43% -54.02% -73.8%
Interest Expense -$43.54M -$40.53M -$83.42M
YoY Change 370.0% 969.65% 213.81%
% of Operating Profit -76.27% -65.96%
Other Income/Expense, Net $6.201M $1.358M
YoY Change -265.18% -95.94%
Pretax Income -$125.3M $12.61M $43.10M
YoY Change 160.5% -86.26% -89.98%
Income Tax -$44.73M $9.239M $9.200M
% Of Pretax Income 73.27% 21.35%
Net Earnings -$80.54M $3.224M $33.35M
YoY Change 130.26% -95.79% -89.86%
Net Earnings / Revenue -3.12% 0.11% 0.34%
Basic Earnings Per Share -$1.05 $0.45
Diluted Earnings Per Share -$1.05 $0.04 $0.42
COMMON SHARES
Basic Shares Outstanding 78.79M shares 78.23M shares 74.92M shares
Diluted Shares Outstanding 76.98M shares 76.19M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $141.6M $370.6M $370.6M
YoY Change -39.28% 2.73% 2.73%
Cash & Equivalents $141.6M $370.6M $370.6M
Short-Term Investments
Other Short-Term Assets $85.13M $118.6M $3.861B
YoY Change -27.42% 44.89% 2127.29%
Inventory $164.9M $118.0M $118.0M
Prepaid Expenses $123.4M $122.3M
Receivables $1.372B $1.400B $3.130B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.657B $3.859B $3.861B
YoY Change 31.33% 34.28% 34.36%
LONG-TERM ASSETS
Property, Plant & Equipment $2.007B $2.034B $2.034B
YoY Change 14.84% 19.87% 19.87%
Goodwill $2.066B $2.045B
YoY Change 37.31% 34.49%
Intangibles $904.4M $946.3M
YoY Change 30.51% 41.18%
Long-Term Investments
YoY Change
Other Assets $421.8M $409.2M $409.2M
YoY Change 17.55% 13.63% 13.63%
Total Long-Term Assets $5.399B $5.434B $5.434B
YoY Change 25.44% 27.94% 27.94%
TOTAL ASSETS
Total Short-Term Assets $3.657B $3.859B $3.861B
Total Long-Term Assets $5.399B $5.434B $5.434B
Total Assets $9.055B $9.293B $9.296B
YoY Change 27.76% 30.5% 30.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $925.6M $1.110B $1.110B
YoY Change 31.42% 67.38% 67.38%
Accrued Expenses $331.2M $366.0M $644.4M
YoY Change 59.47% 59.16% 21.92%
Deferred Revenue $438.6M $406.2M
YoY Change 47.03% 29.36%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $166.7M $171.9M $171.9M
YoY Change 24.42% 24.66% 24.66%
Total Short-Term Liabilities $2.379B $2.496B $2.497B
YoY Change 27.46% 39.87% 39.92%
LONG-TERM LIABILITIES
Long-Term Debt $3.046B $3.052B $3.052B
YoY Change 70.26% 62.68% 62.68%
Other Long-Term Liabilities $258.0M $238.4M $432.4M
YoY Change -6.78% -17.79% -7.27%
Total Long-Term Liabilities $258.0M $238.4M $3.485B
YoY Change -6.78% -17.79% 48.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.379B $2.496B $2.497B
Total Long-Term Liabilities $258.0M $238.4M $3.485B
Total Liabilities $6.408B $6.552B $6.554B
YoY Change 40.03% 43.14% 43.06%
SHAREHOLDERS EQUITY
Retained Earnings $2.115B $2.196B
YoY Change -0.57% 1.54%
Common Stock $1.245B $1.256B
YoY Change 19.13% 20.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.646B $2.737B $2.741B
YoY Change
Total Liabilities & Shareholders Equity $9.055B $9.293B $9.296B
YoY Change 27.76% 30.5% 30.53%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$80.54M $3.224M $33.35M
YoY Change 130.26% -95.79% -89.86%
Depreciation, Depletion And Amortization $149.2M $162.4M $507.1M
YoY Change 34.66% 52.98% 19.94%
Cash From Operating Activities -$86.37M $233.6M $352.3M
YoY Change -165.67% -20.53% -55.58%
INVESTING ACTIVITIES
Capital Expenditures $63.35M $50.03M $263.4M
YoY Change -176.15% -232.63% -254.85%
Acquisitions $46.51M $635.8M
YoY Change 112.94% -48.92%
Other Investing Activities -$200.0K -$792.8M -$43.00K
YoY Change 31.53% -97.39%
Cash From Investing Activities -$89.49M -$579.5M -$821.2M
YoY Change -11.72% -9.52% -39.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $81.29M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$53.44M 620.4M $480.9M
YoY Change -66.18% 32.71% -4.19%
NET CHANGE
Cash From Operating Activities -$86.37M 233.6M $352.3M
Cash From Investing Activities -$89.49M -579.5M -$821.2M
Cash From Financing Activities -$53.44M 620.4M $480.9M
Net Change In Cash -$229.0M 274.5M $9.856M
YoY Change 79.49% 126.91% -115.8%
FREE CASH FLOW
Cash From Operating Activities -$86.37M $233.6M $352.3M
Capital Expenditures $63.35M $50.03M $263.4M
Free Cash Flow -$149.7M $183.6M $88.95M
YoY Change -169.73% -44.65% -90.77%

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CY2020 us-gaap Proceeds From Long Term Lines Of Credit
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9856000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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351691000 usd
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360736000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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423118000 usd
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71427000 usd
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370592000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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360736000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Interest Paid Net
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CY2020 us-gaap Interest Paid Net
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CY2021 us-gaap Income Taxes Paid Net
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CY2020 us-gaap Income Taxes Paid Net
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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114221000 usd
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CY2021Q4 us-gaap Inventory Valuation Reserves
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<div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Management Estimates</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates are based on historical experience and various other assumptions that management believes to be reasonable under the circumstances, including the potential future effects of macroeconomic trends and events, such as inflation and interest rate levels; supply chain disruptions; uncertainty from potential recessionary effects; climate-related matters; market, industry and regulatory factors, including permitting issues; global events, such as the ongoing military conflict in Ukraine; and public health matters. These estimates form the basis for making judgments about the Company’s operating results and the carrying values of assets and liabilities that are not readily apparent from other sources. While management believes that such estimates are reasonable when considered in conjunction with the Company’s consolidated financial position and results of operations taken as a whole, actual results could differ materially from these estimates. </span></div>Key estimates include: the recognition of revenue and project profit or loss, which the Company defines as project revenue less project costs of revenue, including project-related depreciation, in particular, on construction contracts accounted for under the cost-to-cost method, for which the recorded amounts require estimates of costs to complete and the amount and probability of variable consideration included in the contract transaction price; fair value estimates, including acquisition-related assets, such as goodwill and intangible assets, equity investments, long-lived and other assets; acquisition-related liabilities, including contingent consideration, other liabilities and debt obligations; allowances for credit losses; asset lives used in computing depreciation and amortization; fair values of financial instruments; self-insurance liabilities; certain other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies.
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CY2021 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2020 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P1Y
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Contracts Receivable Claims And Uncertain Amounts Expected To Be Collected Within One Year
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CY2021Q4 us-gaap Contracts Receivable Claims And Uncertain Amounts Expected To Be Collected Within One Year
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104000000 usd
CY2021Q4 mtz Variable Interest Entity Nonconsolidated Carrying Amount Of Assets And Liabilities
VariableInterestEntityNonconsolidatedCarryingAmountOfAssetsAndLiabilities
24000000 usd
CY2022Q4 mtz Variable Interest Entity Nonconsolidated Carrying Amount Of Assets And Liabilities
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CY2022Q4 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
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CY2021Q4 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
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CY2022 us-gaap Payments Of Debt Issuance Costs
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CY2021 us-gaap Payments Of Debt Issuance Costs
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CY2020 us-gaap Payments Of Debt Issuance Costs
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CY2022 us-gaap Amortization Of Financing Costs
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CY2021 us-gaap Amortization Of Financing Costs
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CY2022Q4 us-gaap Deferred Finance Costs Net
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17600000 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
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18500000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2020 mtz Shares Paid For Exercise Price And Tax Withholding For Share Based Compensation
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CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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328831000 usd
CY2021 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
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322848000 usd
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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72499000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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72799000 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1442000 shares
CY2020 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
916000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q4 mtz Finance Lease And Other Obligations
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CY2021 us-gaap Variable Lease Cost
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CY2020 us-gaap Variable Lease Cost
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Files In Submission

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