2023 Q3 Form 10-Q Financial Statement
#000107042323000018 Filed on August 09, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|---|---|---|
Revenue | $12.07B | $11.60B | $16.36B |
YoY Change | -15.8% | -29.08% | 64.74% |
Cost Of Revenue | $11.11B | $10.88B | $15.32B |
YoY Change | -17.05% | -29.02% | 65.18% |
Gross Profit | $965.0M | $725.0M | $1.035B |
YoY Change | 1.9% | -29.95% | 58.5% |
Gross Profit Margin | 7.99% | 6.25% | 6.33% |
Selling, General & Admin | $92.00M | $85.00M | $78.00M |
YoY Change | 10.84% | 8.97% | 8.33% |
% of Gross Profit | 9.53% | 11.72% | 7.54% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $260.0M | $259.0M | $242.0M |
YoY Change | 9.24% | 7.02% | 23.47% |
% of Gross Profit | 26.94% | 35.72% | 23.38% |
Operating Expenses | $352.0M | $344.0M | $320.0M |
YoY Change | 9.66% | 7.5% | 19.4% |
Operating Profit | $234.0M | $381.0M | $411.0M |
YoY Change | -62.62% | -7.3% | -274.15% |
Interest Expense | $97.00M | -$6.000M | $99.00M |
YoY Change | 1285.71% | -106.06% | -7.48% |
% of Operating Profit | 41.45% | -1.57% | 24.09% |
Other Income/Expense, Net | $10.00M | $20.00M | -$118.0M |
YoY Change | -112.2% | -116.95% | -240.48% |
Pretax Income | $265.0M | $392.0M | $298.0M |
YoY Change | -51.91% | 31.54% | -231.86% |
Income Tax | -$14.00M | $43.00M | $47.00M |
% Of Pretax Income | -5.28% | 10.97% | 15.77% |
Net Earnings | $203.0M | $227.0M | $203.0M |
YoY Change | -47.14% | 11.82% | -192.27% |
Net Earnings / Revenue | 1.68% | 1.96% | 1.24% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.20 | $0.33 | $289.2K |
COMMON SHARES | |||
Basic Shares Outstanding | 698.4M shares | 698.4M shares | 702.7M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $260.0M | $933.0M | $267.0M |
YoY Change | -58.27% | 249.44% | 1012.5% |
Cash & Equivalents | $260.0M | $933.0M | $267.0M |
Short-Term Investments | |||
Other Short-Term Assets | $201.0M | $137.0M | $285.0M |
YoY Change | -96.39% | -51.93% | -73.44% |
Inventory | $617.0M | $367.0M | $528.0M |
Prepaid Expenses | |||
Receivables | $4.449B | $3.607B | $5.279B |
Other Receivables | -$196.0M | -$387.0M | $8.107B |
Total Short-Term Assets | $5.331B | $4.657B | $6.661B |
YoY Change | -4.36% | -30.09% | 17.35% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $16.86B | $16.53B | $15.97B |
YoY Change | 6.33% | 3.49% | 18.72% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $2.830B | $3.062B | $3.773B |
YoY Change | -23.18% | -18.84% | 0.75% |
Other Assets | $417.0M | $386.0M | $266.0M |
YoY Change | -25.13% | 45.11% | -74.81% |
Total Long-Term Assets | $22.40B | $22.24B | $22.23B |
YoY Change | 2.38% | 0.08% | 12.73% |
TOTAL ASSETS | |||
Total Short-Term Assets | $5.331B | $4.657B | $6.661B |
Total Long-Term Assets | $22.40B | $22.24B | $22.23B |
Total Assets | $27.74B | $26.90B | $28.89B |
YoY Change | 1.01% | -6.88% | 13.76% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $4.145B | $3.295B | $5.421B |
YoY Change | 3.75% | -39.22% | 31.83% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | $710.0M | $709.0M | $630.0M |
YoY Change | 54.68% | 12.54% | -41.01% |
Total Short-Term Liabilities | $5.606B | $4.652B | $6.874B |
YoY Change | 5.12% | -32.32% | 11.54% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $7.296B | $7.288B | $7.986B |
YoY Change | -8.64% | -8.74% | -4.8% |
Other Long-Term Liabilities | $1.002B | $1.059B | $991.0M |
YoY Change | -28.17% | 6.86% | 8.9% |
Total Long-Term Liabilities | $8.578B | $8.646B | $9.293B |
YoY Change | -8.56% | -6.96% | -3.08% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $5.606B | $4.652B | $6.874B |
Total Long-Term Liabilities | $8.578B | $8.646B | $9.293B |
Total Liabilities | $14.18B | $13.30B | $16.17B |
YoY Change | -19.01% | -17.75% | 2.64% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | |||
YoY Change | |||
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $10.29B | $10.38B | $9.931B |
YoY Change | |||
Total Liabilities & Shareholders Equity | $27.74B | $26.90B | $28.89B |
YoY Change | 1.01% | -6.88% | 13.76% |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q2 | 2022 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $203.0M | $227.0M | $203.0M |
YoY Change | -47.14% | 11.82% | -192.27% |
Depreciation, Depletion And Amortization | $260.0M | $259.0M | $242.0M |
YoY Change | 9.24% | 7.02% | 23.47% |
Cash From Operating Activities | $85.00M | $888.0M | $792.0M |
YoY Change | -90.98% | 12.12% | 237.02% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $142.0M | $159.0M | -$110.0M |
YoY Change | -208.4% | -244.55% | 29.41% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$296.0M | -$286.0M | $68.00M |
YoY Change | 700.0% | -520.59% | -175.56% |
Cash From Investing Activities | -$438.0M | -$164.0M | -$42.00M |
YoY Change | 160.71% | 290.48% | -76.0% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -308.0M | -325.0M | -599.0M |
YoY Change | -25.24% | -45.74% | 588.51% |
NET CHANGE | |||
Cash From Operating Activities | 85.00M | 888.0M | 792.0M |
Cash From Investing Activities | -438.0M | -164.0M | -42.00M |
Cash From Financing Activities | -308.0M | -325.0M | -599.0M |
Net Change In Cash | -661.0M | 399.0M | 151.0M |
YoY Change | -282.6% | 164.24% | -659.26% |
FREE CASH FLOW | |||
Cash From Operating Activities | $85.00M | $888.0M | $792.0M |
Capital Expenditures | $142.0M | $159.0M | -$110.0M |
Free Cash Flow | -$57.00M | $729.0M | $902.0M |
YoY Change | -105.31% | -19.18% | 181.88% |
Facts In Submission
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Embedded Derivative Gain Loss On Embedded Derivative Net
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Income Loss From Equity Method Investments
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Repayments Of Senior Debt
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Revenues
Revenues
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Revenues
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Income Loss From Equity Method Investments
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201000000 | usd | |
paa |
Segment Adjusted Ebitda
SegmentAdjustedEBITDA
|
1227000000 | usd | |
paa |
Maintenance Capital Expenditures
MaintenanceCapitalExpenditures
|
70000000 | usd | |
CY2023Q2 | paa |
Segment Adjusted Ebitda
SegmentAdjustedEBITDA
|
591000000 | usd |
CY2022Q2 | paa |
Segment Adjusted Ebitda
SegmentAdjustedEBITDA
|
614000000 | usd |
paa |
Segment Adjusted Ebitda
SegmentAdjustedEBITDA
|
1300000000 | usd | |
paa |
Segment Adjusted Ebitda
SegmentAdjustedEBITDA
|
1227000000 | usd | |
CY2023Q2 | paa |
Depreciation And Amortization Of Unconsolidated Entities
DepreciationAndAmortizationOfUnconsolidatedEntities
|
24000000 | usd |
CY2022Q2 | paa |
Depreciation And Amortization Of Unconsolidated Entities
DepreciationAndAmortizationOfUnconsolidatedEntities
|
17000000 | usd |
paa |
Depreciation And Amortization Of Unconsolidated Entities
DepreciationAndAmortizationOfUnconsolidatedEntities
|
47000000 | usd | |
paa |
Depreciation And Amortization Of Unconsolidated Entities
DepreciationAndAmortizationOfUnconsolidatedEntities
|
37000000 | usd | |
CY2023Q2 | paa |
Gains Losses From Derivative Activities And Inventory Valuation Adjustments
GainsLossesFromDerivativeActivitiesAndInventoryValuationAdjustments
|
86000000 | usd |
CY2022Q2 | paa |
Gains Losses From Derivative Activities And Inventory Valuation Adjustments
GainsLossesFromDerivativeActivitiesAndInventoryValuationAdjustments
|
75000000 | usd |
paa |
Gains Losses From Derivative Activities And Inventory Valuation Adjustments
GainsLossesFromDerivativeActivitiesAndInventoryValuationAdjustments
|
-6000000 | usd | |
paa |
Gains Losses From Derivative Activities And Inventory Valuation Adjustments
GainsLossesFromDerivativeActivitiesAndInventoryValuationAdjustments
|
-13000000 | usd | |
CY2023Q2 | paa |
Long Term Inventory Costing Adjustments
LongTermInventoryCostingAdjustments
|
2000000 | usd |
CY2022Q2 | paa |
Long Term Inventory Costing Adjustments
LongTermInventoryCostingAdjustments
|
-13000000 | usd |
paa |
Long Term Inventory Costing Adjustments
LongTermInventoryCostingAdjustments
|
31000000 | usd | |
paa |
Long Term Inventory Costing Adjustments
LongTermInventoryCostingAdjustments
|
-105000000 | usd | |
CY2023Q2 | paa |
Deficiencies Under Minimum Volume Commitments Net
DeficienciesUnderMinimumVolumeCommitmentsNet
|
-2000000 | usd |
CY2022Q2 | paa |
Deficiencies Under Minimum Volume Commitments Net
DeficienciesUnderMinimumVolumeCommitmentsNet
|
10000000 | usd |
paa |
Deficiencies Under Minimum Volume Commitments Net
DeficienciesUnderMinimumVolumeCommitmentsNet
|
-9000000 | usd | |
paa |
Deficiencies Under Minimum Volume Commitments Net
DeficienciesUnderMinimumVolumeCommitmentsNet
|
15000000 | usd | |
CY2023Q2 | paa |
Equity Indexed Compensation Expense Awards That Will Be Settled In Units
EquityIndexedCompensationExpenseAwardsThatWillBeSettledInUnits
|
8000000 | usd |
CY2022Q2 | paa |
Equity Indexed Compensation Expense Awards That Will Be Settled In Units
EquityIndexedCompensationExpenseAwardsThatWillBeSettledInUnits
|
7000000 | usd |
paa |
Equity Indexed Compensation Expense Awards That Will Be Settled In Units
EquityIndexedCompensationExpenseAwardsThatWillBeSettledInUnits
|
17000000 | usd | |
paa |
Equity Indexed Compensation Expense Awards That Will Be Settled In Units
EquityIndexedCompensationExpenseAwardsThatWillBeSettledInUnits
|
15000000 | usd | |
CY2023Q2 | paa |
Net Gain Loss On Foreign Currency Revaluation
NetGainLossOnForeignCurrencyRevaluation
|
-19000000 | usd |
CY2022Q2 | paa |
Net Gain Loss On Foreign Currency Revaluation
NetGainLossOnForeignCurrencyRevaluation
|
-3000000 | usd |
paa |
Net Gain Loss On Foreign Currency Revaluation
NetGainLossOnForeignCurrencyRevaluation
|
-15000000 | usd | |
paa |
Net Gain Loss On Foreign Currency Revaluation
NetGainLossOnForeignCurrencyRevaluation
|
-1000000 | usd | |
CY2023Q2 | paa |
Adjusted Ebitda Attributable To Noncontrolling Interests
AdjustedEBITDAAttributableToNoncontrollingInterests
|
103000000 | usd |
CY2022Q2 | paa |
Adjusted Ebitda Attributable To Noncontrolling Interests
AdjustedEBITDAAttributableToNoncontrollingInterests
|
89000000 | usd |
paa |
Adjusted Ebitda Attributable To Noncontrolling Interests
AdjustedEBITDAAttributableToNoncontrollingInterests
|
200000000 | usd | |
paa |
Adjusted Ebitda Attributable To Noncontrolling Interests
AdjustedEBITDAAttributableToNoncontrollingInterests
|
166000000 | usd | |
CY2023Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
259000000 | usd |
CY2022Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
242000000 | usd |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
515000000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
473000000 | usd | |
CY2023Q2 | us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
-3000000 | usd |
CY2022Q2 | us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
3000000 | usd |
us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
150000000 | usd | |
us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
46000000 | usd | |
CY2023Q2 | us-gaap |
Interest Expense
InterestExpense
|
95000000 | usd |
CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
|
99000000 | usd |
us-gaap |
Interest Expense
InterestExpense
|
193000000 | usd | |
us-gaap |
Interest Expense
InterestExpense
|
206000000 | usd | |
CY2023Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
20000000 | usd |
CY2022Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-118000000 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
85000000 | usd | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-155000000 | usd | |
CY2023Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
392000000 | usd |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
298000000 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
920000000 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
544000000 | usd | |
CY2023Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
43000000 | usd |
CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
47000000 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
96000000 | usd | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
68000000 | usd | |
CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
349000000 | usd |
CY2022Q2 | us-gaap |
Profit Loss
ProfitLoss
|
251000000 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
824000000 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
476000000 | usd | |
CY2023Q2 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
56000000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
48000000 | usd |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
109000000 | usd | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
86000000 | usd | |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
293000000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
203000000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
715000000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
390000000 | 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 |