2023 Q3 Form 10-Q Financial Statement

#000116472723000034 Filed on July 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.493B $2.683B
YoY Change -5.35% -12.26%
Cost Of Revenue $1.371B $1.543B
YoY Change -11.26% -9.66%
Gross Profit $1.122B $1.140B
YoY Change 3.03% -15.56%
Gross Profit Margin 45.01% 42.49%
Selling, General & Admin $236.0M $137.0M
YoY Change 87.3% 12.3%
% of Gross Profit 21.03% 12.02%
Research & Development $53.00M $110.0M
YoY Change -33.75% 144.44%
% of Gross Profit 4.72% 9.65%
Depreciation & Amortization $480.0M $486.0M
YoY Change -5.51% -13.06%
% of Gross Profit 42.78% 42.63%
Operating Expenses $53.00M $739.0M
YoY Change -33.75% 1542.22%
Operating Profit $1.069B $401.0M
YoY Change 5.95% -69.27%
Interest Expense -$48.00M -$65.00M
YoY Change -12.73% 14.04%
% of Operating Profit -4.49% -16.21%
Other Income/Expense, Net -$6.000M -$1.000M
YoY Change -700.0% -99.24%
Pretax Income $232.0M $300.0M
YoY Change -21.62% -26.47%
Income Tax $73.00M $163.0M
% Of Pretax Income 31.47% 54.33%
Net Earnings $158.0M $155.0M
YoY Change -25.82% -59.95%
Net Earnings / Revenue 6.34% 5.78%
Basic Earnings Per Share $0.20 $0.19
Diluted Earnings Per Share $0.20 $0.19
COMMON SHARES
Basic Shares Outstanding 794.7M shares 794.7M shares
Diluted Shares Outstanding 796.0M shares 795.0M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.214B $3.238B
YoY Change -15.71% -25.7%
Cash & Equivalents $3.190B $2.829B
Short-Term Investments $24.00M $409.0M
Other Short-Term Assets $707.0M $742.0M
YoY Change 34.92% 45.21%
Inventory $1.956B $1.969B
Prepaid Expenses
Receivables $78.00M $185.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.955B $6.134B
YoY Change -5.78% -11.19%
LONG-TERM ASSETS
Property, Plant & Equipment $24.47B $24.28B
YoY Change 1.34% 0.63%
Goodwill $1.971B $1.971B
YoY Change -28.87% -28.87%
Intangibles
YoY Change
Long-Term Investments $3.162B $3.204B
YoY Change -1.13% 0.03%
Other Assets $673.0M $2.540B
YoY Change 2.44% 272.98%
Total Long-Term Assets $32.13B $32.00B
YoY Change -2.11% -2.39%
TOTAL ASSETS
Total Short-Term Assets $5.955B $6.134B
Total Long-Term Assets $32.13B $32.00B
Total Assets $38.08B $38.13B
YoY Change -2.71% -3.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $651.0M $565.0M
YoY Change 14.21% -3.09%
Accrued Expenses $887.0M $834.0M
YoY Change 11.99% -7.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $94.00M $96.00M
YoY Change
Total Short-Term Liabilities $2.808B $2.693B
YoY Change 20.83% 9.87%
LONG-TERM LIABILITIES
Long-Term Debt $5.575B $6.015B
YoY Change 0.11% 8.03%
Other Long-Term Liabilities $429.0M $8.215B
YoY Change -11.18% 1523.52%
Total Long-Term Liabilities $6.004B $14.23B
YoY Change -0.79% 134.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.808B $2.693B
Total Long-Term Liabilities $6.004B $14.23B
Total Liabilities $18.82B $18.91B
YoY Change 6.09% 4.52%
SHAREHOLDERS EQUITY
Retained Earnings $623.0M $785.0M
YoY Change -77.99% -74.31%
Common Stock $18.71B $18.69B
YoY Change 0.39% 0.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.07B $19.23B
YoY Change
Total Liabilities & Shareholders Equity $38.08B $38.13B
YoY Change -2.71% -3.92%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $158.0M $155.0M
YoY Change -25.82% -59.95%
Depreciation, Depletion And Amortization $480.0M $486.0M
YoY Change -5.51% -13.06%
Cash From Operating Activities $1.003B $663.0M
YoY Change 112.05% -36.43%
INVESTING ACTIVITIES
Capital Expenditures $604.0M $616.0M
YoY Change -214.18% -218.69%
Acquisitions
YoY Change
Other Investing Activities $351.0M $458.0M
YoY Change -150.58% 11350.0%
Cash From Investing Activities -$253.0M -$158.0M
YoY Change -79.31% -69.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -381.0M -334.0M
YoY Change -17.17% -36.02%
NET CHANGE
Cash From Operating Activities 1.003B 663.0M
Cash From Investing Activities -253.0M -158.0M
Cash From Financing Activities -381.0M -334.0M
Net Change In Cash 369.0M 171.0M
YoY Change -130.5% 2750.0%
FREE CASH FLOW
Cash From Operating Activities $1.003B $663.0M
Capital Expenditures $604.0M $616.0M
Free Cash Flow $399.0M $47.00M
YoY Change -60.18% -96.99%

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