2021 Q2 Form 10-Q Financial Statement

#000153450421000029 Filed on July 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $6.898B $2.516B
YoY Change 174.18% -61.65%
Cost Of Revenue $6.696B $2.318B
YoY Change 188.94% -64.31%
Gross Profit $201.8M $198.3M
YoY Change 1.77% 196.86%
Gross Profit Margin 2.93% 7.88%
Selling, General & Admin $55.00M $58.70M
YoY Change -6.3% 16.47%
% of Gross Profit 27.25% 29.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $119.2M $131.0M
YoY Change -9.01% 19.31%
% of Gross Profit 59.07% 66.06%
Operating Expenses $649.7M $613.8M
YoY Change 5.85% 41.69%
Operating Profit $147.5M $620.8M
YoY Change -76.24% 6434.74%
Interest Expense $80.80M $65.50M
YoY Change 23.36% 55.58%
% of Operating Profit 54.78% 10.55%
Other Income/Expense, Net $1.900M $1.100M
YoY Change 72.73%
Pretax Income $74.40M $551.3M
YoY Change -86.5% -1817.45%
Income Tax $4.500M $138.3M
% Of Pretax Income 6.05% 25.09%
Net Earnings $47.90M $389.1M
YoY Change -87.69% -1308.39%
Net Earnings / Revenue 0.69% 15.47%
Basic Earnings Per Share $0.40 $3.24
Diluted Earnings Per Share $0.39 $3.23
COMMON SHARES
Basic Shares Outstanding 120.2M shares 120.0M shares
Diluted Shares Outstanding 121.9M shares 121.4M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.480B $1.225B
YoY Change 20.79% 500.49%
Cash & Equivalents $1.480B $1.225B
Short-Term Investments
Other Short-Term Assets $142.8M $113.0M
YoY Change 26.37% 2.73%
Inventory $2.636B $1.620B
Prepaid Expenses
Receivables $1.008B $429.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.267B $3.387B
YoY Change 55.49% -5.89%
LONG-TERM ASSETS
Property, Plant & Equipment $4.835B $4.989B
YoY Change -3.08% 27.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $811.7M $1.026B
YoY Change -20.86% -2.75%
Total Long-Term Assets $6.388B $6.686B
YoY Change -4.46% 28.32%
TOTAL ASSETS
Total Short-Term Assets $5.267B $3.387B
Total Long-Term Assets $6.388B $6.686B
Total Assets $11.65B $10.07B
YoY Change 15.69% 14.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $783.3M $423.4M
YoY Change 85.0% -4.68%
Accrued Expenses $2.869B $1.445B
YoY Change 98.59% -21.77%
Deferred Revenue $28.80M $20.50M
YoY Change 40.49% -18.97%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $15.60M $13.00M
YoY Change 20.0% 550.0%
Total Short-Term Liabilities $3.751B $2.037B
YoY Change 84.13% -15.04%
LONG-TERM LIABILITIES
Long-Term Debt $4.624B $4.093B
YoY Change 12.99% 101.68%
Other Long-Term Liabilities $271.6M $299.9M
YoY Change -9.44% 7.22%
Total Long-Term Liabilities $4.896B $4.393B
YoY Change 11.46% 90.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.751B $2.037B
Total Long-Term Liabilities $4.896B $4.393B
Total Liabilities $9.407B $7.184B
YoY Change 30.96% 35.63%
SHAREHOLDERS EQUITY
Retained Earnings -$1.021B -$311.5M
YoY Change 227.61% -188.8%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $168.5M $165.7M
YoY Change 1.69% 2.16%
Treasury Stock Shares 6.636M shares 6.456M shares
Shareholders Equity $1.664B $2.345B
YoY Change
Total Liabilities & Shareholders Equity $11.65B $10.07B
YoY Change 15.69% 14.34%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $47.90M $389.1M
YoY Change -87.69% -1308.39%
Depreciation, Depletion And Amortization $119.2M $131.0M
YoY Change -9.01% 19.31%
Cash From Operating Activities $78.40M -$393.0M
YoY Change -119.95% -420.82%
INVESTING ACTIVITIES
Capital Expenditures -$79.10M -$147.8M
YoY Change -46.48% -38.75%
Acquisitions
YoY Change
Other Investing Activities $0.00 $529.4M
YoY Change -100.0%
Cash From Investing Activities -$79.10M $381.6M
YoY Change -120.73% -258.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -60.80M 514.5M
YoY Change -111.82% -639.31%
NET CHANGE
Cash From Operating Activities 78.40M -393.0M
Cash From Investing Activities -79.10M 381.6M
Cash From Financing Activities -60.80M 514.5M
Net Change In Cash -61.50M 503.1M
YoY Change -112.22% -334.87%
FREE CASH FLOW
Cash From Operating Activities $78.40M -$393.0M
Capital Expenditures -$79.10M -$147.8M
Free Cash Flow $157.5M -$245.2M
YoY Change -164.23% -167.4%

Facts In Submission

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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
120612601 shares
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.67
pbf Statutorytaxrate
Statutorytaxrate
0.266
CY2021Q2 pbf Statutorytaxrate
Statutorytaxrate
0.266
CY2020Q2 pbf Statutorytaxrate
Statutorytaxrate
0.263
pbf Statutorytaxrate
Statutorytaxrate
0.263

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