2021 Q4 Form 10-K Financial Statement

#000155837022000923 Filed on February 09, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $1.587B $6.357B $1.496B
YoY Change 6.08% 4.37% -8.11%
Cost Of Revenue $1.350B $5.266B $1.232B
YoY Change 9.58% 2.87% -8.88%
Gross Profit $237.0M $1.091B $264.0M
YoY Change -10.23% 12.24% -4.35%
Gross Profit Margin 14.93% 17.16% 17.65%
Selling, General & Admin $108.0M $433.0M $95.00M
YoY Change 13.68% 7.44% -5.0%
% of Gross Profit 45.57% 39.69% 35.98%
Research & Development $25.00M $82.00M $30.00M
YoY Change -16.67% 9.33% 66.67%
% of Gross Profit 10.55% 7.52% 11.36%
Depreciation & Amortization $100.0M $449.0M $105.0M
YoY Change -4.76% -4.06% -11.76%
% of Gross Profit 42.19% 41.15% 39.77%
Operating Expenses $131.0M $515.0M $134.0M
YoY Change -2.24% 7.74% 5.51%
Operating Profit $106.0M $576.0M $130.0M
YoY Change -18.46% 16.6% -12.75%
Interest Expense -$37.00M $216.0M -$66.00M
YoY Change -43.94% -18.49% -278.38%
% of Operating Profit -34.91% 37.5% -50.77%
Other Income/Expense, Net $3.000M
YoY Change -133.33%
Pretax Income $72.00M $332.0M $14.00M
YoY Change 414.29% -5.95% -78.46%
Income Tax $23.00M $167.0M $39.00M
% Of Pretax Income 31.94% 50.3% 278.57%
Net Earnings $43.00M $149.0M -$29.00M
YoY Change -248.28% -40.16% -196.67%
Net Earnings / Revenue 2.71% 2.34% -1.94%
Basic Earnings Per Share $0.95
Diluted Earnings Per Share $269.1K $0.93 -$184.4K
COMMON SHARES
Basic Shares Outstanding 157.2M
Diluted Shares Outstanding 160.3M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $725.0M $725.0M $563.0M
YoY Change 28.77% 28.77% 2.18%
Cash & Equivalents $725.0M $725.0M $563.0M
Short-Term Investments
Other Short-Term Assets $286.0M $286.0M $270.0M
YoY Change 5.93% 5.93% -0.37%
Inventory $816.0M $816.0M $841.0M
Prepaid Expenses
Receivables $692.0M $692.0M $623.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.519B $2.519B $2.297B
YoY Change 9.66% 9.66% -7.68%
LONG-TERM ASSETS
Property, Plant & Equipment $2.817B $2.933B $2.907B
YoY Change -3.1% -3.68% -11.18%
Goodwill $1.840B $1.951B
YoY Change -5.69% 0.88%
Intangibles $286.0M $325.0M
YoY Change -12.0% -12.4%
Long-Term Investments $643.0M $643.0M $673.0M
YoY Change -4.46% -4.46% -3.03%
Other Assets $1.370B $562.0M $662.0M
YoY Change 106.95% 5.64% -18.07%
Total Long-Term Assets $6.313B $6.313B $6.585B
YoY Change -4.13% -4.13% -7.54%
TOTAL ASSETS
Total Short-Term Assets $2.519B $2.519B $2.297B
Total Long-Term Assets $6.313B $6.313B $6.585B
Total Assets $8.832B $8.832B $8.882B
YoY Change -0.56% -0.56% -7.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.210B $1.210B $1.126B
YoY Change 7.46% 7.46% -11.76%
Accrued Expenses $510.0M $510.0M $553.0M
YoY Change -7.78% -7.78% -1.78%
Deferred Revenue
YoY Change
Short-Term Debt $34.00M $34.00M $55.00M
YoY Change -38.18% -38.18% -26.67%
Long-Term Debt Due $38.00M $38.00M $142.0M
YoY Change -73.24% -73.24% 189.8%
Total Short-Term Liabilities $1.846B $1.846B $1.898B
YoY Change -2.74% -2.74% -4.86%
LONG-TERM LIABILITIES
Long-Term Debt $4.753B $4.753B $4.945B
YoY Change -3.88% -3.88% -9.02%
Other Long-Term Liabilities $781.0M $1.304B $424.0M
YoY Change 84.2% -14.72% 18.77%
Total Long-Term Liabilities $5.534B $6.057B $5.369B
YoY Change 3.07% -6.44% -7.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.846B $1.846B $1.898B
Total Long-Term Liabilities $5.534B $6.057B $5.369B
Total Liabilities $7.380B $8.112B $7.267B
YoY Change 1.55% -5.51% -6.68%
SHAREHOLDERS EQUITY
Retained Earnings $301.0M $152.0M
YoY Change 98.03% -270.79%
Common Stock $3.092B $3.131B
YoY Change -1.25% -0.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $701.0M $714.0M
YoY Change -1.82% -2.59%
Treasury Stock Shares $31.40M $31.91M
Shareholders Equity $720.0M $720.0M $297.0M
YoY Change
Total Liabilities & Shareholders Equity $8.832B $8.832B $8.882B
YoY Change -0.56% -0.56% -7.58%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $43.00M $149.0M -$29.00M
YoY Change -248.28% -40.16% -196.67%
Depreciation, Depletion And Amortization $100.0M $449.0M $105.0M
YoY Change -4.76% -4.06% -11.76%
Cash From Operating Activities $228.0M $687.0M $329.0M
YoY Change -30.7% 50.33% -49.54%
INVESTING ACTIVITIES
Capital Expenditures -$130.0M $398.0M -$65.00M
YoY Change 100.0% 27.97% -30.11%
Acquisitions
YoY Change
Other Investing Activities $112.0M $2.000M $7.000M
YoY Change 1500.0% -99.5% -95.65%
Cash From Investing Activities -$18.00M -$220.0M -$58.00M
YoY Change -68.97% -336.56% -185.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $40.00M
YoY Change
Debt Paid & Issued, Net $1.188B
YoY Change -51.71%
Cash From Financing Activities -102.0M -273.0M -338.0M
YoY Change -69.82% -50.99% -24.89%
NET CHANGE
Cash From Operating Activities 228.0M 687.0M 329.0M
Cash From Investing Activities -18.00M -220.0M -58.00M
Cash From Financing Activities -102.0M -273.0M -338.0M
Net Change In Cash 108.0M 165.0M -67.00M
YoY Change -261.19% 1275.0% -124.81%
FREE CASH FLOW
Cash From Operating Activities $228.0M $687.0M $329.0M
Capital Expenditures -$130.0M $398.0M -$65.00M
Free Cash Flow $358.0M $289.0M $394.0M
YoY Change -9.14% 97.95% -47.11%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20.15pt;margin:0pt 0pt 8pt 0pt;"><b style="font-weight:bold;">Use of Estimates </b><span style="white-space:pre-wrap;"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management of the Company to make estimates and assumptions that affect certain amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates, at which time the Company would revise its estimates accordingly.</span></p>
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