2023 Q3 Form 10-Q Financial Statement

#000162828023026196 Filed on July 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.181B $2.094B
YoY Change 4.59% 7.68%
Cost Of Revenue $1.150B $1.101B
YoY Change 9.75% 11.92%
Gross Profit $1.031B $993.4M
YoY Change -0.62% 3.34%
Gross Profit Margin 47.26% 47.43%
Selling, General & Admin $178.9M $158.8M
YoY Change 14.46% 6.58%
% of Gross Profit 17.36% 15.99%
Research & Development $143.4M $145.3M
YoY Change -11.26% -7.33%
% of Gross Profit 13.91% 14.63%
Depreciation & Amortization $155.4M $148.8M
YoY Change 12.28% 5.83%
% of Gross Profit 15.08% 14.98%
Operating Expenses $343.7M $316.1M
YoY Change -24.14% 0.64%
Operating Profit $687.0M $677.3M
YoY Change 17.64% 4.65%
Interest Expense $16.20M $7.600M
YoY Change -26.7% -64.81%
% of Operating Profit 2.36% 1.12%
Other Income/Expense, Net $10.50M -$1.300M
YoY Change -152.5% -93.19%
Pretax Income $697.5M $681.5M
YoY Change 23.67% 8.5%
Income Tax $114.6M $104.4M
% Of Pretax Income 16.43% 15.32%
Net Earnings $582.7M $576.6M
YoY Change 27.84% 8.75%
Net Earnings / Revenue 26.72% 27.53%
Basic Earnings Per Share $1.35 $1.34
Diluted Earnings Per Share $1.29 $1.29
COMMON SHARES
Basic Shares Outstanding 431.5M shares 431.9M shares
Diluted Shares Outstanding 450.7M shares 448.7M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.679B $2.622B
YoY Change 49.53% 59.39%
Cash & Equivalents $2.679B $2.622B
Short-Term Investments
Other Short-Term Assets $363.2M $399.2M
YoY Change 24.21% 26.49%
Inventory $2.085B $1.964B
Prepaid Expenses
Receivables $958.0M $944.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.085B $5.930B
YoY Change 27.17% 35.78%
LONG-TERM ASSETS
Property, Plant & Equipment $4.315B $4.283B
YoY Change 59.22% 67.35%
Goodwill $1.578B $1.578B
YoY Change -13.1% -18.54%
Intangibles $312.8M $326.3M
YoY Change -30.89% -31.23%
Long-Term Investments
YoY Change
Other Assets $368.7M $645.4M
YoY Change -43.27% 22.91%
Total Long-Term Assets $7.196B $6.833B
YoY Change 19.86% 16.89%
TOTAL ASSETS
Total Short-Term Assets $6.085B $5.930B
Total Long-Term Assets $7.196B $6.833B
Total Assets $13.28B $12.76B
YoY Change 23.1% 24.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $911.3M $907.5M
YoY Change 14.8% 25.12%
Accrued Expenses $665.4M $654.1M
YoY Change -11.79% -2.43%
Deferred Revenue $83.70M $88.80M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $912.9M $919.1M
YoY Change 452.6% 439.38%
Total Short-Term Liabilities $2.495B $2.481B
YoY Change 45.61% 58.4%
LONG-TERM LIABILITIES
Long-Term Debt $2.541B $2.564B
YoY Change -16.61% -15.54%
Other Long-Term Liabilities $684.7M $677.0M
YoY Change 17.83% 22.64%
Total Long-Term Liabilities $3.226B $3.241B
YoY Change -11.1% -9.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.495B $2.481B
Total Long-Term Liabilities $3.226B $3.241B
Total Liabilities $5.777B $5.779B
YoY Change 7.41% 11.25%
SHAREHOLDERS EQUITY
Retained Earnings $5.985B $5.403B
YoY Change 73.58% 80.55%
Common Stock $6.100M $6.100M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.484B $6.984B
YoY Change
Total Liabilities & Shareholders Equity $13.28B $12.76B
YoY Change 23.1% 24.97%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $582.7M $576.6M
YoY Change 27.84% 8.75%
Depreciation, Depletion And Amortization $155.4M $148.8M
YoY Change 12.28% 5.83%
Cash From Operating Activities $566.6M $390.8M
YoY Change 34.65% -18.35%
INVESTING ACTIVITIES
Capital Expenditures $433.0M $430.6M
YoY Change -298.53% 147.76%
Acquisitions
YoY Change
Other Investing Activities $25.80M $47.10M
YoY Change -46.25% 6.08%
Cash From Investing Activities -$407.2M -$383.5M
YoY Change 139.39% 196.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -101.3M -89.60M
YoY Change -1.75% 56.37%
NET CHANGE
Cash From Operating Activities 566.6M 390.8M
Cash From Investing Activities -407.2M -383.5M
Cash From Financing Activities -101.3M -89.60M
Net Change In Cash 58.10M -82.30M
YoY Change -60.64% -128.26%
FREE CASH FLOW
Cash From Operating Activities $566.6M $390.8M
Capital Expenditures $433.0M $430.6M
Free Cash Flow $133.6M -$39.80M
YoY Change -79.09% -113.06%

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CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
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CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
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CY2023Q2 on Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
2575000000 usd
CY2023Q2 us-gaap Long Term Debt
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2023Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
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CY2022Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
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us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
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InterestOnConvertibleDebtNetOfTax
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
577000000.0 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
987000000.0 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
431700000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
433800000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000.0 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
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CY2022Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
15600000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
448100000 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.34
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.40
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.27
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.29
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.20
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
700000 shares
CY2022Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1500000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2000000.0 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1500000 shares
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
60000000.0 usd
CY2022Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
89600000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
164100000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
89600000 usd
CY2023Q2 on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
300000 usd
CY2022Q3 on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
0 usd
on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
300000 usd
on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
0 usd
CY2023Q2 on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
60300000 usd
CY2022Q3 on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
89600000 usd
on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
164400000 usd
on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
89600000 usd
CY2023Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
86.49
CY2022Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
59.76
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
81.29
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
59.76
us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
0 shares
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
0 shares
CY2023Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9800000 usd
on Payment Tax Withholding Share Based Payment Arrangement Before Adjustments
PaymentTaxWithholdingShareBasedPaymentArrangementBeforeAdjustments
57400000 usd
CY2023Q2 on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
100000 shares
on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
700000 shares
CY2022Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4500000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
63300000 usd
CY2022Q3 on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
100000 shares
on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
1000000 shares
CY2023Q2 us-gaap Minority Interest
MinorityInterest
19500000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1000000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31600000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
49600000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6600000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5700000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
12500000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10400000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
25000000.0 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
21400000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
46800000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
39200000 usd
CY2023Q2 on Outstanding Guarantees And Letters Of Credit
OutstandingGuaranteesAndLettersOfCredit
16000000 usd
CY2023Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
900000 usd
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-700000 usd
CY2022Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
6300000 usd
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-2700000 usd
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
8200000 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
5400000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2700000 usd
CY2023Q2 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
67000000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
1500000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
15700000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-14200000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
700000 usd
CY2023Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
700000 shares
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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