2023 Q3 Form 10-Q Financial Statement

#000175707323000060 Filed on August 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $631.3M $662.4M
YoY Change -2.25% 4.91%
Cost Of Revenue $268.0M $279.0M
YoY Change -2.9% 8.43%
Gross Profit $363.3M $383.4M
YoY Change -1.76% 2.49%
Gross Profit Margin 57.55% 57.88%
Selling, General & Admin $257.7M $272.9M
YoY Change -7.8% 5.69%
% of Gross Profit 70.93% 71.18%
Research & Development $22.30M $18.00M
YoY Change -11.16% -26.23%
% of Gross Profit 6.14% 4.69%
Depreciation & Amortization $32.80M $33.50M
YoY Change -6.55% 329.49%
% of Gross Profit 9.03% 8.74%
Operating Expenses $280.0M $290.9M
YoY Change -8.08% 2.94%
Operating Profit $83.30M $92.50M
YoY Change 27.76% 1.09%
Interest Expense $15.40M -$17.40M
YoY Change 140.63% -394.92%
% of Operating Profit 18.49% -18.81%
Other Income/Expense, Net -$32.10M $7.100M
YoY Change -10800.0% 2266.67%
Pretax Income $35.80M $68.60M
YoY Change -39.42% -20.14%
Income Tax $14.30M $16.70M
% Of Pretax Income 39.94% 24.34%
Net Earnings $21.50M $51.90M
YoY Change -54.35% -30.71%
Net Earnings / Revenue 3.41% 7.84%
Basic Earnings Per Share $0.13 $0.32
Diluted Earnings Per Share $0.12 $0.29
COMMON SHARES
Basic Shares Outstanding 163.8M shares 163.7M shares
Diluted Shares Outstanding 175.2M shares 176.3M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $824.2M $651.7M
YoY Change 57.56% -39.56%
Cash & Equivalents $824.2M $651.7M
Short-Term Investments
Other Short-Term Assets $120.6M $125.0M
YoY Change -41.57% -39.79%
Inventory $278.8M $297.0M
Prepaid Expenses
Receivables $417.1M $415.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.641B $1.489B
YoY Change 18.18% -22.0%
LONG-TERM ASSETS
Property, Plant & Equipment $304.0M $429.7M
YoY Change 15.11% 62.64%
Goodwill $3.458B $3.494B
YoY Change 2.02% 13.05%
Intangibles $1.001B $1.043B
YoY Change -6.93% 3.61%
Long-Term Investments
YoY Change
Other Assets $152.9M $151.7M
YoY Change -28.01% -13.26%
Total Long-Term Assets $5.043B $5.118B
YoY Change -0.58% 9.75%
TOTAL ASSETS
Total Short-Term Assets $1.641B $1.489B
Total Long-Term Assets $5.043B $5.118B
Total Assets $6.684B $6.607B
YoY Change 3.45% 0.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $168.6M $176.8M
YoY Change -7.72% -2.1%
Accrued Expenses $335.5M $322.1M
YoY Change -25.15% -27.27%
Deferred Revenue $100.9M $102.6M
YoY Change 42.51% 39.97%
Short-Term Debt $115.1M $0.00
YoY Change -77.37% -100.0%
Long-Term Debt Due $115.1M $511.5M
YoY Change -77.37% 0.73%
Total Short-Term Liabilities $746.8M $1.151B
YoY Change -40.55% -8.35%
LONG-TERM LIABILITIES
Long-Term Debt $1.381B $875.6M
YoY Change 59.82% -0.15%
Other Long-Term Liabilities $150.5M $269.8M
YoY Change -25.24% -6.38%
Total Long-Term Liabilities $1.532B $1.145B
YoY Change 43.75% -1.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $746.8M $1.151B
Total Long-Term Liabilities $1.532B $1.145B
Total Liabilities $2.278B $2.296B
YoY Change -1.87% -5.15%
SHAREHOLDERS EQUITY
Retained Earnings $848.6M $827.1M
YoY Change 39.05% 46.86%
Common Stock $1.700M $1.600M
YoY Change 6.25% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.293B $4.311B
YoY Change
Total Liabilities & Shareholders Equity $6.684B $6.607B
YoY Change 3.45% 0.53%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $21.50M $51.90M
YoY Change -54.35% -30.71%
Depreciation, Depletion And Amortization $32.80M $33.50M
YoY Change -6.55% 329.49%
Cash From Operating Activities $95.50M $75.10M
YoY Change 330.18% 2045.71%
INVESTING ACTIVITIES
Capital Expenditures $18.40M $14.10M
YoY Change -252.07% -28.79%
Acquisitions
YoY Change
Other Investing Activities -$6.600M $11.30M
YoY Change -98.86% 121.57%
Cash From Investing Activities -$25.00M -$2.800M
YoY Change -95.77% -154.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 114.5M 2.600M
YoY Change 6261.11% -50.94%
NET CHANGE
Cash From Operating Activities 95.50M 75.10M
Cash From Investing Activities -25.00M -2.800M
Cash From Financing Activities 114.5M 2.600M
Net Change In Cash 185.0M 74.90M
YoY Change -132.59% 1493.62%
FREE CASH FLOW
Cash From Operating Activities $95.50M $75.10M
Capital Expenditures $18.40M $14.10M
Free Cash Flow $77.10M $61.00M
YoY Change 124.78% -474.23%

Facts In Submission

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RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
110900000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
87500000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
53200000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
36100000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
18900000 usd
us-gaap Restructuring Charges
RestructuringCharges
17500000 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
25300000 usd
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
11100000 usd
CY2023Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
13600000 usd
CY2022Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
14800000 usd
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
17900000 usd
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
18500000 usd
CY2022Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
14800000 usd
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
17900000 usd
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
18500000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.243
CY2023Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
51900000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
44500000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
95700000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
114900000 usd
CY2023Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 usd
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
2600000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
7100000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
51900000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
47100000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
164000000.0 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
162900000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2400000 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3300000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
9900000 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
12300000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
176300000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
178500000 shares
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.32
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.27
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.58
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.71
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.29
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.25
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.54
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.64
CY2023Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0
CY2022Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.02
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.04
CY2023Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0
CY2022Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.01
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.04
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.75
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.68
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
662400000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
645800000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1289600000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1277200000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
78900000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
65200000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
151000000.0 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
156700000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7100000 usd
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
300000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7400000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
600000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
17400000 usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
6400000 usd
us-gaap Interest Expense
InterestExpense
34100000 usd
us-gaap Interest Expense
InterestExpense
12300000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
68600000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
59100000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
124300000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
145000000.0 usd
CY2023Q2 us-gaap Assets
Assets
6607200000 usd
CY2022Q4 us-gaap Assets
Assets
6587000000 usd
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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