$OI
O-I Glass, Inc. /DE/

2024 Q1 Form 10-K Financial Statement

#000155837024001165 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.593B $1.641B $7.105B
YoY Change -13.0% -3.07% 3.63%
Cost Of Revenue $1.275B $1.410B $5.609B
YoY Change -5.35% -1.67% -0.6%
Gross Profit $318.0M $231.0M $1.496B
YoY Change -34.3% -10.81% 23.33%
Gross Profit Margin 19.96% 14.08% 21.06%
Selling, General & Admin $123.0M $116.0M $540.0M
YoY Change -16.33% -7.2% 8.87%
% of Gross Profit 38.68% 50.22% 36.1%
Research & Development $21.00M $26.00M $92.00M
YoY Change 10.53% 13.04% 16.46%
% of Gross Profit 6.6% 11.26% 6.15%
Depreciation & Amortization $125.0M $125.0M $483.0M
YoY Change 5.93% 5.93% 6.39%
% of Gross Profit 39.31% 54.11% 32.29%
Operating Expenses $144.0M $139.0M $632.0M
YoY Change -13.25% -31.19% 9.91%
Operating Profit $117.0M $92.00M $67.00M
YoY Change -56.67% 61.4% -91.68%
Interest Expense $78.00M -$52.00M $342.0M
YoY Change 14.71% 85.71% 43.1%
% of Operating Profit 66.67% -56.52% 510.45%
Other Income/Expense, Net $1.000M -$10.00M
YoY Change -110.0% 66.67%
Pretax Income $235.0M -$439.0M -$455.0M
YoY Change -40.95% -1613.79% -156.52%
Income Tax $41.00M $25.00M $152.0M
% Of Pretax Income 17.45%
Net Earnings $72.00M -$470.0M -$103.0M
YoY Change -65.05% -3715.38% -117.64%
Net Earnings / Revenue 4.52% -28.64% -1.45%
Basic Earnings Per Share $0.46 -$0.67
Diluted Earnings Per Share $0.45 -$3.05 -$0.67
COMMON SHARES
Basic Shares Outstanding 153.7M 154.7M
Diluted Shares Outstanding 158.5M 154.7M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $395.0M $913.0M $913.0M
YoY Change -17.71% 18.11% 18.11%
Cash & Equivalents $395.0M $913.0M $913.0M
Short-Term Investments
Other Short-Term Assets $254.0M $229.0M $229.0M
YoY Change -0.78% 3.15% 3.15%
Inventory $1.210B $1.071B $1.071B
Prepaid Expenses
Receivables $801.0M $671.0M $671.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.660B $2.884B $2.884B
YoY Change -3.34% 10.8% 10.8%
LONG-TERM ASSETS
Property, Plant & Equipment $3.551B $3.555B $3.555B
YoY Change 15.97% 20.02% 20.02%
Goodwill $1.458B $1.473B
YoY Change -21.91% -18.75%
Intangibles $250.0M $254.0M
YoY Change -6.37% -3.05%
Long-Term Investments $743.0M $743.0M
YoY Change 6.91% 6.91%
Other Assets $1.490B $694.0M $1.503B
YoY Change 0.88% 4.2% 5.77%
Total Long-Term Assets $6.749B $6.785B $6.785B
YoY Change 1.14% 5.06% 5.06%
TOTAL ASSETS
Total Short-Term Assets $2.660B $2.884B $2.884B
Total Long-Term Assets $6.749B $6.785B $6.785B
Total Assets $9.409B $9.669B $9.669B
YoY Change -0.17% 6.71% 6.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.170B $1.437B $1.437B
YoY Change -10.28% 6.05% 6.05%
Accrued Expenses $571.0M $571.0M
YoY Change -1.55% -1.55%
Deferred Revenue
YoY Change
Short-Term Debt $119.0M $106.0M $106.0M
YoY Change 135.56% 135.56%
Long-Term Debt Due $696.0M $142.0M $248.0M
YoY Change 131.23% -52.67% -28.12%
Total Short-Term Liabilities $2.602B $2.346B $2.346B
YoY Change 15.39% -0.47% -0.47%
LONG-TERM LIABILITIES
Long-Term Debt $4.119B $4.698B $4.698B
YoY Change -6.85% 7.48% 7.48%
Other Long-Term Liabilities $862.0M $480.0M $881.0M
YoY Change 0.12% 10.85% 9.44%
Total Long-Term Liabilities $4.981B $5.178B $5.579B
YoY Change -5.72% 7.79% 7.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.602B $2.346B $2.346B
Total Long-Term Liabilities $4.981B $5.178B $5.579B
Total Liabilities $7.583B $7.524B $7.925B
YoY Change 0.6% 5.07% 5.2%
SHAREHOLDERS EQUITY
Retained Earnings $782.0M
YoY Change -11.64%
Common Stock $3.088B
YoY Change 0.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.687B $1.609B $1.744B
YoY Change
Total Liabilities & Shareholders Equity $9.409B $9.669B $9.669B
YoY Change -0.17% 6.71% 6.71%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $72.00M -$470.0M -$103.0M
YoY Change -65.05% -3715.38% -117.64%
Depreciation, Depletion And Amortization $125.0M $125.0M $483.0M
YoY Change 5.93% 5.93% 6.39%
Cash From Operating Activities -$270.0M $381.0M $818.0M
YoY Change 39.9% -46.49% 431.17%
INVESTING ACTIVITIES
Capital Expenditures $213.0M $223.0M $688.0M
YoY Change 124.21% 15.54% 27.64%
Acquisitions
YoY Change
Other Investing Activities -$2.000M -$3.000M $5.000M
YoY Change -33.33% -99.23% -98.87%
Cash From Investing Activities -$215.0M -$226.0M -$683.0M
YoY Change 119.39% -61.37% 604.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $40.00M
YoY Change 0.0%
Debt Paid & Issued, Net $1.298B
YoY Change -55.2%
Cash From Financing Activities -17.00M -58.00M -27.00M
YoY Change 6.25% -196.67% -550.0%
NET CHANGE
Cash From Operating Activities -270.0M 381.0M 818.0M
Cash From Investing Activities -215.0M -226.0M -683.0M
Cash From Financing Activities -17.00M -58.00M -27.00M
Net Change In Cash -518.0M 97.00M 140.0M
YoY Change 76.79% -48.13% 191.67%
FREE CASH FLOW
Cash From Operating Activities -$270.0M $381.0M $818.0M
Capital Expenditures $213.0M $223.0M $688.0M
Free Cash Flow -$483.0M $158.0M $130.0M
YoY Change 67.71% -69.56% -133.77%

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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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