2023 Q1 Form 10-K Financial Statement

#000137094623000010 Filed on February 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.331B $2.285B $9.761B
YoY Change -0.64% 7.23% 14.86%
Cost Of Revenue $1.742B $1.699B $7.145B
YoY Change 0.87% 8.49% 13.76%
Gross Profit $589.0M $586.0M $2.616B
YoY Change -4.85% 3.72% 18.0%
Gross Profit Margin 25.27% 25.65% 26.8%
Selling, General & Admin $204.0M $215.0M $796.0M
YoY Change 10.87% 3.37% 5.43%
% of Gross Profit 34.63% 36.69% 30.43%
Research & Development $28.00M $33.00M $106.0M
YoY Change 21.74% 17.86% 16.48%
% of Gross Profit 4.75% 5.63% 4.05%
Depreciation & Amortization $127.0M $131.0M $531.0M
YoY Change -3.79% -0.76% 5.78%
% of Gross Profit 21.56% 22.35% 20.3%
Operating Expenses $55.00M $385.0M $902.0M
YoY Change -69.27% 67.39% 15.79%
Operating Profit $534.0M $201.0M $1.714B
YoY Change 21.36% -40.0% 19.19%
Interest Expense $22.00M -$27.00M $109.0M
YoY Change -21.43% -6.9% -13.49%
% of Operating Profit 4.12% -13.43% 6.36%
Other Income/Expense, Net $0.00 $3.000M $9.000M
YoY Change -100.0% 50.0% -25.0%
Pretax Income $512.0M $155.0M $1.614B
YoY Change 23.67% -47.64% 85.94%
Income Tax $130.0M $33.00M $373.0M
% Of Pretax Income 25.39% 21.29% 23.11%
Net Earnings $383.0M $124.0M $1.241B
YoY Change 25.99% -45.37% 24.72%
Net Earnings / Revenue 16.43% 5.43% 12.71%
Basic Earnings Per Share $4.19 $12.85
Diluted Earnings Per Share $4.17 $1.31 $12.70
COMMON SHARES
Basic Shares Outstanding 90.77M shares 93.46M shares 96.60M shares
Diluted Shares Outstanding 91.90M shares 97.70M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $757.0M $1.099B $1.099B
YoY Change 1.2% 14.6% 14.6%
Cash & Equivalents $757.0M $1.099B $1.099B
Short-Term Investments
Other Short-Term Assets $108.0M $117.0M $162.0M
YoY Change -23.4% -3.31% 33.88%
Inventory $1.340B $1.334B $1.334B
Prepaid Expenses
Receivables $1.388B $961.0M $961.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.593B $3.556B $3.556B
YoY Change 4.72% 14.82% 14.82%
LONG-TERM ASSETS
Property, Plant & Equipment $3.745B $3.729B $4.060B
YoY Change -2.09% -3.72% -1.6%
Goodwill $1.387B $1.383B
YoY Change 41.1% 39.7%
Intangibles $1.610B $1.602B
YoY Change 0.25% -0.93%
Long-Term Investments $27.00M
YoY Change -40.0%
Other Assets $275.0M $262.0M $124.0M
YoY Change 6.18% 5.22% -11.43%
Total Long-Term Assets $7.247B $7.196B $7.196B
YoY Change 5.26% 4.02% 4.02%
TOTAL ASSETS
Total Short-Term Assets $3.593B $3.556B $3.556B
Total Long-Term Assets $7.247B $7.196B $7.196B
Total Assets $10.84B $10.75B $10.75B
YoY Change 5.08% 7.36% 7.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.243B $1.345B $1.345B
YoY Change -6.4% 22.83% 22.83%
Accrued Expenses $55.00M $52.00M $285.0M
YoY Change 5.77% 6.12% 1.42%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $1.000M $0.00
YoY Change 0.0% -83.33%
Long-Term Debt Due $29.00M $28.00M $28.00M
YoY Change 11.54% 12.0% 12.0%
Total Short-Term Liabilities $1.933B $2.104B $2.104B
YoY Change -3.3% 23.98% 23.98%
LONG-TERM LIABILITIES
Long-Term Debt $2.999B $2.992B $2.992B
YoY Change 1.35% 1.08% 1.08%
Other Long-Term Liabilities $308.0M $299.0M $647.0M
YoY Change 19.38% -1.64% 0.0%
Total Long-Term Liabilities $3.307B $3.291B $3.639B
YoY Change 2.8% 0.83% 0.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.933B $2.104B $2.104B
Total Long-Term Liabilities $3.307B $3.291B $3.639B
Total Liabilities $6.003B $6.131B $6.177B
YoY Change 15.09% 7.94% 8.01%
SHAREHOLDERS EQUITY
Retained Earnings $4.129B $3.794B
YoY Change 38.84% 40.21%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.816B $2.678B
YoY Change 31.34% 39.33%
Treasury Stock Shares 43.60M shares
Shareholders Equity $4.791B $4.575B $4.575B
YoY Change
Total Liabilities & Shareholders Equity $10.84B $10.75B $10.75B
YoY Change 5.08% 7.36% 7.36%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $383.0M $124.0M $1.241B
YoY Change 25.99% -45.37% 24.72%
Depreciation, Depletion And Amortization $127.0M $131.0M $531.0M
YoY Change -3.79% -0.76% 5.78%
Cash From Operating Activities -$164.0M $675.0M $1.760B
YoY Change -203.8% 101.49% 17.1%
INVESTING ACTIVITIES
Capital Expenditures $158.0M $140.0M $446.0M
YoY Change -247.66% -180.92% -207.21%
Acquisitions $417.0M
YoY Change 892.86%
Other Investing Activities $7.000M $90.00M $16.00M
YoY Change 250.0% 136.84% 300.0%
Cash From Investing Activities $24.00M -$50.00M -$623.0M
YoY Change -127.27% -62.96% 65.25%
FINANCING ACTIVITIES
Cash Dividend Paid $48.00M $136.0M
YoY Change 37.14% 25.93%
Common Stock Issuance & Retirement, Net $795.0M
YoY Change 39.47%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$216.0M -299.0M -$974.0M
YoY Change -24.21% 81.21% 10.56%
NET CHANGE
Cash From Operating Activities -$164.0M 675.0M $1.760B
Cash From Investing Activities $24.00M -50.00M -$623.0M
Cash From Financing Activities -$216.0M -299.0M -$974.0M
Net Change In Cash -$342.0M 326.0M $141.0M
YoY Change 62.09% 831.43% -41.74%
FREE CASH FLOW
Cash From Operating Activities -$164.0M $675.0M $1.760B
Capital Expenditures $158.0M $140.0M $446.0M
Free Cash Flow -$322.0M $535.0M $1.314B
YoY Change -221.51% 5.31% -31.53%

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CY2022Q4 us-gaap Finance Lease Liability
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CY2021 us-gaap Product Warranty Accrual Warranties Issued
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CY2021Q4 us-gaap Product Warranty Accrual
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CY2021Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt Noncurrent
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CY2021Q4 us-gaap Long Term Debt Noncurrent
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CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2021Q4 us-gaap Short Term Borrowings
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CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate
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CY2021Q4 us-gaap Short Term Debt Weighted Average Interest Rate
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CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
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CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
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CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2022 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Earnings Per Share Diluted
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CY2021 us-gaap Earnings Per Share Diluted
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CY2021 us-gaap Current Federal Tax Expense Benefit
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CY2022 us-gaap Current State And Local Tax Expense Benefit
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CY2022 us-gaap Current Foreign Tax Expense Benefit
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Foreign
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Foreign
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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