2022 Q1 Form 10-Q Financial Statement

#000090616322000030 Filed on May 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $2.378B $2.041B
YoY Change 16.51% 29.0%
Cost Of Revenue $1.651B $1.578B
YoY Change 4.68% 21.84%
Gross Profit $731.5M $468.5M
YoY Change 56.14% 58.17%
Gross Profit Margin 30.76% 22.95%
Selling, General & Admin $152.4M $143.1M
YoY Change 6.51% 11.45%
% of Gross Profit 20.84% 30.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.460M $5.203M
YoY Change -14.28% -7.45%
% of Gross Profit 0.61% 1.11%
Operating Expenses $152.4M $143.0M
YoY Change 6.59% 11.37%
Operating Profit $579.1M $325.5M
YoY Change 77.91% 93.98%
Interest Expense $13.17M $13.40M
YoY Change -1.72% 106.55%
% of Operating Profit 2.27% 4.12%
Other Income/Expense, Net
YoY Change
Pretax Income $565.9M $312.0M
YoY Change 81.39% 93.34%
Income Tax $139.8M $63.24M
% Of Pretax Income 24.71% 20.27%
Net Earnings $426.1M $248.8M
YoY Change 71.29% 41.58%
Net Earnings / Revenue 17.92% 12.19%
Basic Earnings Per Share $125.90 $67.72
Diluted Earnings Per Share $116.60 $63.21
COMMON SHARES
Basic Shares Outstanding 3.385M shares 3.673M shares
Diluted Shares Outstanding 3.656M shares 3.935M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.158B $2.774B
YoY Change -22.22% 154.05%
Cash & Equivalents $2.227B $2.815B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.194B $1.830B
Prepaid Expenses
Receivables $23.47M $22.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.375B $4.626B
YoY Change -5.43% 75.58%
LONG-TERM ASSETS
Property, Plant & Equipment $128.5M $123.0M
YoY Change 4.49% -6.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $18.80M $25.90M
YoY Change -27.41% -6.83%
Other Assets $69.23M $40.10M
YoY Change 72.63% 54.23%
Total Long-Term Assets $1.351B $1.195B
YoY Change 13.1% -4.64%
TOTAL ASSETS
Total Short-Term Assets $4.375B $4.626B
Total Long-Term Assets $1.351B $1.195B
Total Assets $5.726B $5.821B
YoY Change -1.63% 49.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $456.6M $414.2M
YoY Change 10.24% 12.8%
Accrued Expenses $574.9M $528.5M
YoY Change 8.77% 47.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.485B $1.257B
YoY Change 18.09% 44.14%
LONG-TERM LIABILITIES
Long-Term Debt $1.516B $1.517B
YoY Change -0.07% 153.48%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.516B $1.517B
YoY Change -0.07% 153.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.485B $1.257B
Total Long-Term Liabilities $1.516B $1.517B
Total Liabilities $3.001B $2.774B
YoY Change 8.16% 88.65%
SHAREHOLDERS EQUITY
Retained Earnings $10.47B $9.060B
YoY Change 15.61% 12.05%
Common Stock $2.417B $2.272B
YoY Change 6.37% 6.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.17B $8.286B
YoY Change 22.69% 6.28%
Treasury Stock Shares 17.24M shares 16.92M shares
Shareholders Equity $2.726B $3.047B
YoY Change
Total Liabilities & Shareholders Equity $5.726B $5.821B
YoY Change -1.63% 49.73%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $426.1M $248.8M
YoY Change 71.29% 41.58%
Depreciation, Depletion And Amortization $4.460M $5.203M
YoY Change -14.28% -7.45%
Cash From Operating Activities $309.3M $328.3M
YoY Change -5.77% 379.62%
INVESTING ACTIVITIES
Capital Expenditures $4.056M $3.104M
YoY Change 30.67% -11.57%
Acquisitions
YoY Change
Other Investing Activities -$262.0K -$300.0K
YoY Change -12.67% -200.0%
Cash From Investing Activities -$4.318M -$3.394M
YoY Change 27.22% 4.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $748.8M $377.4M
YoY Change 98.39% 74.26%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$714.9M -$320.1M
YoY Change 123.32% 197.19%
NET CHANGE
Cash From Operating Activities $309.3M $328.3M
Cash From Investing Activities -$4.318M -$3.394M
Cash From Financing Activities -$714.9M -$320.1M
Net Change In Cash -$409.9M $4.735M
YoY Change -8756.71% -111.13%
FREE CASH FLOW
Cash From Operating Activities $309.3M $328.3M
Capital Expenditures $4.056M $3.104M
Free Cash Flow $305.3M $325.2M
YoY Change -6.12% 400.77%

Facts In Submission

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34241000 USD
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StockholdersEquity
2725599000 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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NetIncomeLoss
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377425000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14471000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
57625000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
3046507000 USD
CY2022Q1 us-gaap Treasury Stock Shares Acquired
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CY2021Q1 us-gaap Treasury Stock Shares Acquired
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CY2022Q1 nvr Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
13323 shares
CY2021Q1 nvr Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
30555 shares
CY2021Q4 us-gaap Product Warranty Accrual
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134859000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
119638000 USD
CY2022Q1 nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
17967000 USD
CY2021Q1 nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
22329000 USD
CY2022Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
17485000 USD
CY2021Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
17131000 USD
CY2022Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
135341000 USD
CY2021Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
124836000 USD
CY2022Q1 us-gaap Revenues
Revenues
2378409000 USD
CY2021Q1 us-gaap Revenues
Revenues
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CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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565945000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
312006000 USD
CY2022Q1 us-gaap Assets
Assets
5726213000 USD
CY2021Q4 us-gaap Assets
Assets
5834475000 USD
CY2022Q1 nvr Fair Value Measurement Assumed Gain Loss From Loan Sale
FairValueMeasurementAssumedGainLossFromLoanSale
11335000 USD
CY2022Q1 nvr Fair Value Measurements Interest Rate Movement Effect
FairValueMeasurementsInterestRateMovementEffect
-55547000 USD
CY2022Q1 nvr Fair Value Measurements Changes In Servicing Rights Value
FairValueMeasurementsChangesInServicingRightsValue
33562000 USD
CY2022Q1 nvr Fair Value Measurements Security Price Change Gain Loss Included In Earnings
FairValueMeasurementsSecurityPriceChangeGainLossIncludedInEarnings
38996000 USD
CY2022Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
28346000 USD
CY2021 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
18237000 USD
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
15329000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
14020000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
14578000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
15413000 USD
CY2022Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P18Y4M24D
CY2022Q1 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
20
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
8101000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
7577000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
464000 USD
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
443000 USD
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
104000 USD
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
110000 USD
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6332000 USD
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
5890000 USD
CY2022Q1 us-gaap Lease Cost
LeaseCost
15001000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
7169000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
6810000 USD
CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
104000 USD
CY2021Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
110000 USD
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
356000 USD
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
329000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5813000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3013000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
272000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
89000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y2M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P11Y4M24D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P11Y8M12D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.028
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.028
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.247
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.203
CY2022Q1 nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
8446000 USD
CY2021Q1 nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
17377000 USD

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