2021 Q4 Form 10-Q Financial Statement

#000095017021005014 Filed on December 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4 2020 Q3
Revenue $1.566B $1.416B $1.303B
YoY Change 10.59% 3.28% 5.42%
Cost Of Revenue $507.0M $483.0M $431.0M
YoY Change 4.97% 8.3% 2.62%
Gross Profit $1.059B $933.0M $872.0M
YoY Change 13.5% 0.86% 6.86%
Gross Profit Margin 67.62% 65.89% 66.92%
Selling, General & Admin $541.0M $499.0M $490.0M
YoY Change 8.42% 8.95% 2.94%
% of Gross Profit 51.09% 53.48% 56.19%
Research & Development $216.0M $212.0M $233.0M
YoY Change 1.89% 1.44% 8.37%
% of Gross Profit 20.4% 22.72% 26.72%
Depreciation & Amortization $46.00M $56.00M $49.00M
YoY Change -17.86% 12.0% 0.0%
% of Gross Profit 4.34% 6.0% 5.62%
Operating Expenses $765.0M $751.0M $723.0M
YoY Change 1.86% 19.4% 1.54%
Operating Profit $294.0M $182.0M $149.0M
YoY Change 61.54% -38.51% 43.27%
Interest Expense $18.00M $18.00M -$15.00M
YoY Change 0.0% 50.0% -200.0%
% of Operating Profit 6.12% 9.89% -10.07%
Other Income/Expense, Net -$14.00M -$7.000M -$17.00M
YoY Change 100.0% -333.33% -213.33%
Pretax Income $280.0M $175.0M $104.0M
YoY Change 60.0% -41.47% -12.61%
Income Tax $56.00M $38.00M $27.00M
% Of Pretax Income 20.0% 21.71% 25.96%
Net Earnings $224.0M $137.0M $77.00M
YoY Change 63.5% -43.62% -25.24%
Net Earnings / Revenue 14.3% 9.68% 5.91%
Basic Earnings Per Share $1.00 $0.62
Diluted Earnings Per Share $0.98 $0.61 $346.8K
COMMON SHARES
Basic Shares Outstanding 223.0M 222.0M
Diluted Shares Outstanding 229.0M 224.0M

Balance Sheet

Concept 2021 Q4 2020 Q4 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.548B $3.646B $3.773B
YoY Change 24.74% 22.06% 6.82%
Cash & Equivalents $4.509B $3.529B $3.633B
Short-Term Investments $39.00M $117.0M $140.0M
Other Short-Term Assets $319.0M $263.0M $304.0M
YoY Change 21.29% -15.97% -6.75%
Inventory $155.0M $116.0M $136.0M
Prepaid Expenses
Receivables $647.0M $796.0M $604.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.669B $4.821B $4.817B
YoY Change 17.59% 15.03% 6.67%
LONG-TERM ASSETS
Property, Plant & Equipment $549.0M $737.0M $737.0M
YoY Change -25.51% -1.21% -2.25%
Goodwill $2.050B $2.039B $2.038B
YoY Change 0.54% 15.2% 15.14%
Intangibles
YoY Change
Long-Term Investments $75.00M $68.00M
YoY Change
Other Assets $867.0M $698.0M $684.0M
YoY Change 24.21% -2.24% -3.53%
Total Long-Term Assets $3.553B $3.599B $3.599B
YoY Change -1.28% 9.69% 9.23%
TOTAL ASSETS
Total Short-Term Assets $5.669B $4.821B $4.817B
Total Long-Term Assets $3.553B $3.599B $3.599B
Total Assets $9.222B $8.420B $8.416B
YoY Change 9.52% 12.69% 7.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $432.0M $367.0M $396.0M
YoY Change 17.71% -3.93% 13.79%
Accrued Expenses $796.0M $738.0M $616.0M
YoY Change 7.86% 21.78% -2.69%
Deferred Revenue $1.967B $1.815B $1.814B
YoY Change 8.37% 5.65% 2.83%
Short-Term Debt $0.00 $0.00 $150.0M
YoY Change -100.0% 400.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.195B $2.920B $2.976B
YoY Change 9.42% -8.86% -6.27%
LONG-TERM LIABILITIES
Long-Term Debt $2.634B $2.631B $2.630B
YoY Change 0.11% 129.78% 129.69%
Other Long-Term Liabilities $735.0M $663.0M $720.0M
YoY Change 10.86% -20.79% -18.37%
Total Long-Term Liabilities $3.369B $3.294B $720.0M
YoY Change 2.28% 66.2% -64.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.195B $2.920B $2.976B
Total Long-Term Liabilities $3.369B $3.294B $720.0M
Total Liabilities $8.463B $8.050B $8.132B
YoY Change 5.13% 16.06% 17.04%
SHAREHOLDERS EQUITY
Retained Earnings $194.0M $30.00M
YoY Change 546.67%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $759.0M $370.0M $284.0M
YoY Change
Total Liabilities & Shareholders Equity $9.222B $8.420B $8.416B
YoY Change 9.52% 12.69% 7.75%

Cashflow Statement

Concept 2021 Q4 2020 Q4 2020 Q3
OPERATING ACTIVITIES
Net Income $224.0M $137.0M $77.00M
YoY Change 63.5% -43.62% -25.24%
Depreciation, Depletion And Amortization $46.00M $56.00M $49.00M
YoY Change -17.86% 12.0% 0.0%
Cash From Operating Activities $298.0M $161.0M $240.0M
YoY Change 85.09% -403.77% -22.58%
INVESTING ACTIVITIES
Capital Expenditures -$46.00M -$40.00M $52.00M
YoY Change 15.0% 11.11% 62.5%
Acquisitions $350.0M
YoY Change 525.0%
Other Investing Activities $15.00M $30.00M -$259.0M
YoY Change -50.0% -85.98% -26000.0%
Cash From Investing Activities -$31.00M -$10.00M -$311.0M
YoY Change 210.0% -105.62% -133.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -243.0M -257.0M 1.003B
YoY Change -5.45% -52.84% -266.33%
NET CHANGE
Cash From Operating Activities 298.0M 161.0M 240.0M
Cash From Investing Activities -31.00M -10.00M -311.0M
Cash From Financing Activities -243.0M -257.0M 1.003B
Net Change In Cash 24.00M -106.0M -71.00M
YoY Change -122.64% -74.76% -111.06%
FREE CASH FLOW
Cash From Operating Activities $298.0M $161.0M $240.0M
Capital Expenditures -$46.00M -$40.00M $52.00M
Free Cash Flow $344.0M $201.0M $188.0M
YoY Change 71.14% -1282.35% -32.37%

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us-gaap Loss Contingency Managements Assessment And Process
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Although management at present believes that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm our financial position, results of operations, cash flows, or overall trends, legal proceedings are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could include significant monetary damages. In addition, in matters for which injunctive relief or other conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways or requiring other remedies. An unfavorable outcome may result in a material adverse impact on our business, results of operations, financial position, and overall trends.
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