2024 Q1 Form 10-K Financial Statement

#000100075324000012 Filed on February 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.802B $1.580B $6.486B
YoY Change 1.83% 6.07% 9.21%
Cost Of Revenue $1.457B $1.358B $5.449B
YoY Change 1.36% 8.76% 10.58%
Gross Profit $345.0M $222.1M $1.037B
YoY Change 3.87% -7.86% 2.53%
Gross Profit Margin 19.15% 14.05% 15.99%
Selling, General & Admin $226.0M $189.0M $775.5M
YoY Change 12.64% 5.07% 7.66%
% of Gross Profit 65.51% 85.11% 74.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.00M $10.81M $42.71M
YoY Change 4.79% 4.97% 5.04%
% of Gross Profit 3.19% 4.87% 4.12%
Operating Expenses $237.0M $199.8M $818.3M
YoY Change 12.25% 5.07% 7.52%
Operating Profit $108.0M $22.27M $218.5M
YoY Change -10.75% -56.21% -12.66%
Interest Expense $3.000M $1.775M $27.14M
YoY Change -51.65% -10541.18% 91.01%
% of Operating Profit 2.78% 7.97% 12.42%
Other Income/Expense, Net
YoY Change
Pretax Income $111.0M $24.05M $225.1M
YoY Change -10.18% -52.71% -8.29%
Income Tax $32.00M $4.485M $53.70M
% Of Pretax Income 28.83% 18.65% 23.86%
Net Earnings $79.00M $19.56M $171.4M
YoY Change -16.49% -48.83% -4.44%
Net Earnings / Revenue 4.38% 1.24% 2.64%
Basic Earnings Per Share $2.11 $4.53
Diluted Earnings Per Share $2.08 $0.52 $4.47
COMMON SHARES
Basic Shares Outstanding 37.29M shares 37.28M shares 37.81M shares
Diluted Shares Outstanding 38.00M shares 38.34M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $683.0M $708.8M $708.8M
YoY Change -6.71% -7.46% -7.46%
Cash & Equivalents $667.0M $692.9M $692.9M
Short-Term Investments $16.00M $15.91M $15.91M
Other Short-Term Assets $212.0M $128.2M $192.6M
YoY Change 165.46% 107.72% 56.34%
Inventory
Prepaid Expenses
Receivables $724.0M $15.77M $693.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.619B $1.595B $1.595B
YoY Change 6.65% 5.52% 5.52%
LONG-TERM ASSETS
Property, Plant & Equipment $247.0M $197.4M $254.9M
YoY Change 25.78% -1.28% -0.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $247.0M $21.38M $256.8M
YoY Change 687.1% -27.16% -0.53%
Total Long-Term Assets $507.0M $524.4M $524.4M
YoY Change -2.85% -0.57% -0.57%
TOTAL ASSETS
Total Short-Term Assets $1.619B $1.595B $1.595B
Total Long-Term Assets $507.0M $524.4M $524.4M
Total Assets $2.126B $2.120B $2.120B
YoY Change 4.22% 3.94% 3.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.000M $10.69M $10.69M
YoY Change -36.78% 38.3% 38.3%
Accrued Expenses $1.385B $128.8M $1.426B
YoY Change 1635.74% 60.76% 5.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.406B $1.436B $1.436B
YoY Change 7.91% 6.13% 6.13%
LONG-TERM LIABILITIES
Long-Term Debt $369.0M $369.4M $369.4M
YoY Change -0.11% 0.0% 0.0%
Other Long-Term Liabilities $211.0M $220.3M $220.3M
YoY Change -9.44% -6.32% -6.32%
Total Long-Term Liabilities $580.0M $589.7M $589.7M
YoY Change -3.91% -2.46% -2.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.406B $1.436B $1.436B
Total Long-Term Liabilities $580.0M $589.7M $589.7M
Total Liabilities $1.986B $2.026B $2.026B
YoY Change 4.17% 3.48% 3.48%
SHAREHOLDERS EQUITY
Retained Earnings $793.0M $738.6M
YoY Change 9.21% 12.72%
Common Stock $173.0M $185.6M
YoY Change 21.35% 22.34%
Preferred Stock
YoY Change
Treasury Stock (at cost) $826.0M $830.5M
YoY Change 12.35% 14.47%
Treasury Stock Shares
Shareholders Equity $140.0M $93.62M $93.62M
YoY Change
Total Liabilities & Shareholders Equity $2.126B $2.120B $2.120B
YoY Change 4.22% 3.94% 3.94%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $79.00M $19.56M $171.4M
YoY Change -16.49% -48.83% -4.44%
Depreciation, Depletion And Amortization $11.00M $10.81M $42.71M
YoY Change 4.79% 4.97% 5.04%
Cash From Operating Activities $31.00M $58.19M $198.5M
YoY Change -21.22% -74.21% -42.91%
INVESTING ACTIVITIES
Capital Expenditures $5.000M $17.62M $40.12M
YoY Change -27.0% 26.91% 32.27%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.813M $18.39M
YoY Change -100.0% -212.61% -1125.49%
Cash From Investing Activities -$5.000M -$19.43M -$21.73M
YoY Change -44.1% 58.34% -32.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $131.5M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -83.00M 39.79M -$155.0M
YoY Change 77.17% -324.36% 9.82%
NET CHANGE
Cash From Operating Activities 31.00M 58.19M $198.5M
Cash From Investing Activities -5.000M -19.43M -$21.73M
Cash From Financing Activities -83.00M 39.79M -$155.0M
Net Change In Cash -57.00M 78.55M $21.75M
YoY Change 246.72% -59.86% -87.53%
FREE CASH FLOW
Cash From Operating Activities $31.00M $58.19M $198.5M
Capital Expenditures $5.000M $17.62M $40.12M
Free Cash Flow $26.00M $40.57M $158.4M
YoY Change -20.01% -80.84% -50.1%

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CY2023 us-gaap Payments Of Dividends Common Stock
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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21746000 usd
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1013919000 usd
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Type
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CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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CY2023 us-gaap Income Taxes Paid Net
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 nsp Excisetaxliabilityaccruedforcommonstockrepurchases
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CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Type
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CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Type
DocumentType
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CY2023 dei Document Fiscal Year Focus
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RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Type
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CY2023 us-gaap Use Of Estimates
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<div style="margin-bottom:10pt;margin-top:10pt"><span style="color:#009639;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:10pt;margin-top:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with United States Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</span></div>
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CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2023 dei Document Type
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CY2023 us-gaap Capitalized Computer Software Amortization1
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CY2022Q4 us-gaap Capitalized Computer Software Net
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CY2023 dei Document Fiscal Year Focus
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CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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CY2023 dei Document Type
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CY2019Q4 nsp Workers Compensation Maximum Economic Burden First Layer Of Claims Per Occurrence
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CY2019Q4 nsp Workers Compensation Maximum Aggregate Economic Burden For Claims In Excess Of First Layer Cap Per Policy Year
WorkersCompensationMaximumAggregateEconomicBurdenForClaimsInExcessOfFirstLayerCapPerPolicyYear
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CY2019Q4 nsp Workers Compensation Maximum Economic Burden First Layer Of Claims Per Occurrence
WorkersCompensationMaximumEconomicBurdenFirstLayerOfClaimsPerOccurrence
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CY2023 dei Document Fiscal Year Focus
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2023
CY2023 dei Document Type
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CY2023 nsp Decrease Increase In Accrued Workers Compensation Costs For Changes In Estimated Losses
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CY2022 nsp Decrease Increase In Accrued Workers Compensation Costs For Changes In Estimated Losses
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CY2021 nsp Decrease Increase In Accrued Workers Compensation Costs For Changes In Estimated Losses
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CY2023 nsp Us Treasury Rates That Correspond With Weighted Average Estimated Claim Payout Period
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CY2022 nsp Us Treasury Rates That Correspond With Weighted Average Estimated Claim Payout Period
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CY2023 dei Document Fiscal Year Focus
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CY2022 nsp Workers Compensation Expense
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CY2022 nsp Workers Compensation Discount Changed During Period
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CY2023 us-gaap Payments For Losses And Loss Adjustment Expense
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CY2023Q4 us-gaap Workers Compensation Liability Current And Noncurrent
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CY2022Q4 us-gaap Workers Compensation Liability Current And Noncurrent
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CY2023Q4 nsp Workers Compensation Liability Net Of Admin Fees Current
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CY2022Q4 nsp Workers Compensation Liability Net Of Admin Fees Current
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CY2023Q4 us-gaap Workers Compensation Liability Noncurrent
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CY2022Q4 us-gaap Workers Compensation Liability Noncurrent
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CY2023Q4 us-gaap Workers Compensation Liability Current And Noncurrent
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CY2022Q4 us-gaap Workers Compensation Liability Current And Noncurrent
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CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Type
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CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Type
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CY2022Q4 us-gaap Short Term Investments
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CY2023Q4 us-gaap Cash
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CY2022Q4 us-gaap Cash
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CY2022Q4 srt Drafts Payable
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CY2023 dei Document Fiscal Year Focus
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Funds Held For Clients
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CY2022Q4 us-gaap Funds Held For Clients
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CY2022Q4 nsp Deposits Workers Compensation
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 dei Document Fiscal Year Focus
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CY2023 dei Document Type
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CY2023 dei Document Fiscal Year Focus
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CY2023 dei Document Type
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CY2023 dei Document Fiscal Year Focus
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CY2023Q4 us-gaap Accounts Receivable Net Current
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CY2023 dei Document Fiscal Year Focus
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CY2023 dei Document Fiscal Year Focus
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CY2023 dei Document Fiscal Year Focus
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CY2023 dei Document Type
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CY2023Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
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CY2023 nsp Percentage Of Subsidiary Stock Securing Debt
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CY2023Q4 us-gaap Long Term Debt Maturity Date
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CY2023 dei Document Fiscal Year Focus
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CY2023 dei Document Type
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CY2023 dei Document Fiscal Year Focus
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CY2023Q4 us-gaap Deferred Tax Liabilities Deferred Expense
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CY2022Q4 us-gaap Deferred Tax Liabilities Other
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CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2023Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
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CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
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CY2023Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
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