$NTAP
NetApp, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021046976 Filed on September 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $1.458B $1.303B
YoY Change 11.9% 5.42%
Cost Of Revenue $459.0M $431.0M
YoY Change 6.5% 2.62%
Gross Profit $999.0M $872.0M
YoY Change 14.56% 6.86%
Gross Profit Margin 68.52% 66.92%
Selling, General & Admin $517.0M $490.0M
YoY Change 5.51% 2.94%
% of Gross Profit 51.75% 56.19%
Research & Development $210.0M $233.0M
YoY Change -9.87% 8.37%
% of Gross Profit 21.02% 26.72%
Depreciation & Amortization $46.00M $49.00M
YoY Change -6.12% 0.0%
% of Gross Profit 4.6% 5.62%
Operating Expenses $750.0M $723.0M
YoY Change 3.73% 1.54%
Operating Profit $249.0M $149.0M
YoY Change 67.11% 43.27%
Interest Expense $18.00M -$15.00M
YoY Change -220.0% -200.0%
% of Operating Profit 7.23% -10.07%
Other Income/Expense, Net -$12.00M -$17.00M
YoY Change -29.41% -213.33%
Pretax Income $237.0M $104.0M
YoY Change 127.88% -12.61%
Income Tax $35.00M $27.00M
% Of Pretax Income 14.77% 25.96%
Net Earnings $202.0M $77.00M
YoY Change 162.34% -25.24%
Net Earnings / Revenue 13.85% 5.91%
Basic Earnings Per Share $0.91
Diluted Earnings Per Share $0.88 $346.8K
COMMON SHARES
Basic Shares Outstanding 223.0M
Diluted Shares Outstanding 229.0M

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.547B $3.773B
YoY Change 20.51% 6.82%
Cash & Equivalents $4.492B $3.633B
Short-Term Investments $55.00M $140.0M
Other Short-Term Assets $321.0M $304.0M
YoY Change 5.59% -6.75%
Inventory $108.0M $136.0M
Prepaid Expenses
Receivables $655.0M $604.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.631B $4.817B
YoY Change 16.9% 6.67%
LONG-TERM ASSETS
Property, Plant & Equipment $533.0M $737.0M
YoY Change -27.68% -2.25%
Goodwill $2.050B $2.038B
YoY Change 0.59% 15.14%
Intangibles
YoY Change
Long-Term Investments $72.00M $68.00M
YoY Change 5.88%
Other Assets $845.0M $684.0M
YoY Change 23.54% -3.53%
Total Long-Term Assets $3.525B $3.599B
YoY Change -2.06% 9.23%
TOTAL ASSETS
Total Short-Term Assets $5.631B $4.817B
Total Long-Term Assets $3.525B $3.599B
Total Assets $9.156B $8.416B
YoY Change 8.79% 7.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $368.0M $396.0M
YoY Change -7.07% 13.79%
Accrued Expenses $747.0M $616.0M
YoY Change 21.27% -2.69%
Deferred Revenue $1.988B $1.814B
YoY Change 9.59% 2.83%
Short-Term Debt $0.00 $150.0M
YoY Change -100.0% 400.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.103B $2.976B
YoY Change 4.27% -6.27%
LONG-TERM LIABILITIES
Long-Term Debt $2.633B $2.630B
YoY Change 0.11% 129.69%
Other Long-Term Liabilities $784.0M $720.0M
YoY Change 8.89% -18.37%
Total Long-Term Liabilities $3.417B $720.0M
YoY Change 374.58% -64.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.103B $2.976B
Total Long-Term Liabilities $3.417B $720.0M
Total Liabilities $8.436B $8.132B
YoY Change 3.74% 17.04%
SHAREHOLDERS EQUITY
Retained Earnings $204.0M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $720.0M $284.0M
YoY Change
Total Liabilities & Shareholders Equity $9.156B $8.416B
YoY Change 8.79% 7.75%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $202.0M $77.00M
YoY Change 162.34% -25.24%
Depreciation, Depletion And Amortization $46.00M $49.00M
YoY Change -6.12% 0.0%
Cash From Operating Activities $242.0M $240.0M
YoY Change 0.83% -22.58%
INVESTING ACTIVITIES
Capital Expenditures $51.00M $52.00M
YoY Change -1.92% 62.5%
Acquisitions $14.00M $350.0M
YoY Change -96.0% 525.0%
Other Investing Activities $0.00 -$259.0M
YoY Change -100.0% -26000.0%
Cash From Investing Activities -$54.00M -$311.0M
YoY Change -82.64% -133.16%
FINANCING ACTIVITIES
Cash Dividend Paid $112.0M
YoY Change
Common Stock Issuance & Retirement, Net $100.0M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -218.0M 1.003B
YoY Change -121.73% -266.33%
NET CHANGE
Cash From Operating Activities 242.0M 240.0M
Cash From Investing Activities -54.00M -311.0M
Cash From Financing Activities -218.0M 1.003B
Net Change In Cash -35.00M -71.00M
YoY Change -50.7% -111.06%
FREE CASH FLOW
Cash From Operating Activities $242.0M $240.0M
Capital Expenditures $51.00M $52.00M
Free Cash Flow $191.0M $188.0M
YoY Change 1.6% -32.37%

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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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