2021 Q4 Form 10-Q Financial Statement

#000090616321000099 Filed on November 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $2.235B $2.396B $1.990B
YoY Change -5.07% 20.38% 4.12%
Cost Of Revenue $1.646B $1.818B $1.536B
YoY Change -9.66% 18.36% 1.17%
Gross Profit $589.2M $582.6M $459.1M
YoY Change 10.64% 26.89% 13.69%
Gross Profit Margin 26.36% 24.32% 23.07%
Selling, General & Admin $149.1M $135.2M $125.9M
YoY Change 11.3% 7.37% -3.45%
% of Gross Profit 25.32% 23.21% 27.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.743M $4.682M $5.500M
YoY Change -8.79% -14.87% 3.77%
% of Gross Profit 0.81% 0.8% 1.2%
Operating Expenses $149.1M $135.2M $126.0M
YoY Change 11.3% 7.29% -3.37%
Operating Profit $440.0M $447.4M $333.1M
YoY Change 10.42% 34.31% 21.84%
Interest Expense -$13.21M $13.24M $11.69M
YoY Change 0.05% 13.31% 85.71%
% of Operating Profit -3.0% 2.96% 3.51%
Other Income/Expense, Net
YoY Change
Pretax Income $426.8M $434.1M $321.5M
YoY Change 10.74% 35.05% 20.32%
Income Tax $92.22M $102.0M $64.99M
% Of Pretax Income 21.61% 23.51% 20.22%
Net Earnings $334.6M $332.1M $256.5M
YoY Change 9.7% 29.48% 14.6%
Net Earnings / Revenue 14.97% 13.86% 12.89%
Basic Earnings Per Share $93.25 $69.19
Diluted Earnings Per Share $89.06M $86.44 $65.11
COMMON SHARES
Basic Shares Outstanding 3.483M shares 3.561M shares 3.706M shares
Diluted Shares Outstanding 3.842M shares 3.939M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.573B $2.703B $2.561B
YoY Change -7.37% 5.55% 133.9%
Cash & Equivalents $2.637B $2.748B $2.592B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.947B $1.864B $1.763B
Prepaid Expenses
Receivables $18.55M $22.53M $21.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.539B $4.589B $4.346B
YoY Change 0.75% 5.6% 65.83%
LONG-TERM ASSETS
Property, Plant & Equipment $129.4M $130.6M $131.8M
YoY Change 1.18% -0.95% -1.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.30M $20.80M $28.70M
YoY Change -13.98% -27.53% 16.67%
Other Assets $196.1M $44.68M $31.20M
YoY Change 19.45% 43.21% 50.0%
Total Long-Term Assets $1.295B $1.200B $1.154B
YoY Change 1.86% 3.94% -5.61%
TOTAL ASSETS
Total Short-Term Assets $4.539B $4.589B $4.346B
Total Long-Term Assets $1.295B $1.200B $1.154B
Total Assets $5.834B $5.789B $5.500B
YoY Change 0.99% 5.25% 43.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $388.0M $379.9M $388.3M
YoY Change -3.64% -2.15% 19.18%
Accrued Expenses $510.4M $493.8M $463.5M
YoY Change -0.56% 6.53% 14.44%
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 $1.316B $1.255B $1.063B
YoY Change 13.76% 18.1% 21.66%
LONG-TERM LIABILITIES
Long-Term Debt $1.516B $1.517B $1.518B
YoY Change -0.08% -0.1% 153.8%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.516B $1.517B $1.518B
YoY Change -0.08% -0.1% 153.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.316B $1.255B $1.063B
Total Long-Term Liabilities $1.516B $1.517B $1.518B
Total Liabilities $2.832B $2.772B $2.581B
YoY Change 5.91% 7.4% 75.35%
SHAREHOLDERS EQUITY
Retained Earnings $10.05B $9.713B $8.506B
YoY Change 14.04% 14.19% 11.14%
Common Stock $2.378B $2.349B $2.188B
YoY Change 7.39% 7.35% 8.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.424B $9.045B $7.776B
YoY Change 18.95% 16.33% 6.48%
Treasury Stock Shares 17.11M shares 17.04M shares 16.84M shares
Shareholders Equity $3.002B $3.017B $2.919B
YoY Change
Total Liabilities & Shareholders Equity $5.834B $5.789B $5.500B
YoY Change 0.99% 5.25% 43.1%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $334.6M $332.1M $256.5M
YoY Change 9.7% 29.48% 14.6%
Depreciation, Depletion And Amortization $4.743M $4.682M $5.500M
YoY Change -8.79% -14.87% 3.77%
Cash From Operating Activities $260.1M $461.3M $208.6M
YoY Change -24.83% 121.13% 0.87%
INVESTING ACTIVITIES
Capital Expenditures -$5.929M -$5.326M -$4.100M
YoY Change 56.03% 29.9% -31.67%
Acquisitions
YoY Change
Other Investing Activities -$264.0K -$38.00K -$200.0K
YoY Change -102.2% -81.0% -113.33%
Cash From Investing Activities -$6.193M -$5.364M -$4.300M
YoY Change -175.52% 24.74% -4.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -365.0M -372.7M 360.1M
YoY Change 166.8% -203.49% 4766.22%
NET CHANGE
Cash From Operating Activities 260.1M 461.3M 208.6M
Cash From Investing Activities -6.193M -5.364M -4.300M
Cash From Financing Activities -365.0M -372.7M 360.1M
Net Change In Cash -111.1M 83.23M 564.4M
YoY Change -151.09% -85.25% 169.15%
FREE CASH FLOW
Cash From Operating Activities $260.1M $461.3M $208.6M
Capital Expenditures -$5.929M -$5.326M -$4.100M
Free Cash Flow $266.0M $466.6M $212.7M
YoY Change -23.95% 119.37% -0.05%

Facts In Submission

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RealEstateInventoryCapitalizedInterestCosts
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InterestCostsIncurred
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InterestExpense
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us-gaap Interest Expense
InterestExpense
39910000 USD
us-gaap Interest Expense
InterestExpense
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100000 USD
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RealEstateInventoryCapitalizedInterestCostsCostOfSales1
370000 USD
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RealEstateInventoryCapitalizedInterestCostsCostOfSales1
528000 USD
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RealEstateInventoryCapitalizedInterestCostsCostOfSales1
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RealEstateInventoryCapitalizedInterestCosts
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RealEstateInventoryCapitalizedInterestCosts
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CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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212000 shares
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WeightedAverageNumberOfDilutedSharesOutstanding
3939000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3893000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3896000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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22000 shares
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30000 shares
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15009000 USD
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26162000 USD
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29000 shares
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13000 shares
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StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
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13639000 USD
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2918993000 USD
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58000 shares
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127502000 USD
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20894000 USD
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ProductWarrantyAccrualPayments
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ProductWarrantyAccrualPayments
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ProductWarrantyAccrual
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ProductWarrantyAccrual
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ProductWarrantyAccrual
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ProductWarrantyAccrual
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434127000 USD
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692663000 USD
CY2021Q3 us-gaap Assets
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CY2020Q4 us-gaap Assets
Assets
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FinanceLeaseRightOfUseAssetAmortization
874000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
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FinanceLeaseLiability
15441000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
15772000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
16173000 USD
CY2021Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P18Y10M24D
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
20
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
7906000 USD
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
7689000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
23395000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
23542000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
454000 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
327000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1342000 USD
nvr Fair Value Measurement Assumed Gain Loss From Loan Sale
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2770000 USD
nvr Fair Value Measurements Interest Rate Movement Effect
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-3640000 USD
nvr Fair Value Measurements Changes In Servicing Rights Value
FairValueMeasurementsChangesInServicingRightsValue
11519000 USD
nvr Fair Value Measurements Security Price Change Gain Loss Included In Earnings
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3403000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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14052000 USD
CY2020 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
15583000 USD
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
107000 USD
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
70000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
324000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
170000 USD
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6001000 USD
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5625000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
17752000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
18236000 USD
CY2021Q3 us-gaap Lease Cost
LeaseCost
14468000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
13711000 USD
us-gaap Lease Cost
LeaseCost
42813000 USD
us-gaap Lease Cost
LeaseCost
42822000 USD
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
7143000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
7339000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
20831000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
20733000 USD
CY2021Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
107000 USD
CY2020Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
70000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
324000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
170000 USD
CY2021Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
347000 USD
CY2020Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
253000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1008000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
665000 USD
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3711000 USD
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1806000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
23282000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7491000 USD
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
187000 USD
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9056000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
276000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9496000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P11Y10M24D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P12Y6M
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.034
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.028
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.028
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.235
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.225
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.202
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.139
CY2021Q3 nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
9244000 USD
nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
37834000 USD
CY2020Q3 nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
17834000 USD
nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
80343000 USD

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