2024 Q3 Form 10-K Financial Statement

#000007633424000044 Filed on August 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $5.187B $19.93B
YoY Change 1.78% 4.53%
Cost Of Revenue $3.323B $12.80B
YoY Change 1.84% 1.31%
Gross Profit $1.864B $7.128B
YoY Change 1.68% 10.86%
Gross Profit Margin 35.94% 35.76%
Selling, General & Admin $818.3M $3.315B
YoY Change -1.99% -1.16%
% of Gross Profit 43.9% 46.51%
Research & Development $253.0M
YoY Change -1.94%
% of Gross Profit 3.55%
Depreciation & Amortization $669.4M $349.1M
YoY Change 14.73% -57.33%
% of Gross Profit 35.91% 4.9%
Operating Expenses $818.3M $3.568B
YoY Change -1.99% 6.38%
Operating Profit $1.046B $4.069B
YoY Change 4.76% 32.31%
Interest Expense -$119.3M -$506.5M
YoY Change -24.12% -11.74%
% of Operating Profit -11.41% -12.45%
Other Income/Expense, Net $59.61M $32.28M
YoY Change -4.2% -81.9%
Pretax Income $986.0M $3.595B
YoY Change 9.16% 34.14%
Income Tax $200.9M $749.7M
% Of Pretax Income 20.37% 20.86%
Net Earnings $785.0M $2.844B
YoY Change 10.72% 36.55%
Net Earnings / Revenue 15.13% 14.27%
Basic Earnings Per Share $22.13
Diluted Earnings Per Share $6.01 $21.84
COMMON SHARES
Basic Shares Outstanding 128.6M shares 128.5M shares
Diluted Shares Outstanding 130.2M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $422.0M $422.0M
YoY Change -12.73% -12.73%
Cash & Equivalents $422.0M $422.0M
Short-Term Investments
Other Short-Term Assets $392.8M $392.8M
YoY Change 28.24% 28.24%
Inventory $2.787B $2.787B
Prepaid Expenses
Receivables $2.866B $2.866B
Other Receivables $331.4M $331.4M
Total Short-Term Assets $6.799B $6.799B
YoY Change -0.52% -0.52%
LONG-TERM ASSETS
Property, Plant & Equipment $2.876B $2.876B
YoY Change 0.37% 0.37%
Goodwill $10.51B
YoY Change -1.14%
Intangibles $7.816B
YoY Change -7.51%
Long-Term Investments $294.0M $294.0M
YoY Change -1.01% -1.01%
Other Assets $1.300B $1.300B
YoY Change 9.61% 9.61%
Total Long-Term Assets $22.50B $22.50B
YoY Change -2.73% -2.73%
TOTAL ASSETS
Total Short-Term Assets $6.799B $6.799B
Total Long-Term Assets $22.50B $22.50B
Total Assets $29.30B $29.30B
YoY Change -2.22% -2.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.992B $1.992B
YoY Change -2.89% -2.89%
Accrued Expenses $1.564B $1.564B
YoY Change 1.12% 1.12%
Deferred Revenue $183.9M
YoY Change -24.89%
Short-Term Debt $0.00 $2.148B
YoY Change 20.08%
Long-Term Debt Due $3.403B $3.403B
YoY Change -9.57% -9.57%
Total Short-Term Liabilities $7.313B $7.313B
YoY Change -5.46% -5.46%
LONG-TERM LIABILITIES
Long-Term Debt $7.157B $7.157B
YoY Change -18.64% -18.64%
Other Long-Term Liabilities $725.2M $1.163B
YoY Change -49.81% -19.53%
Total Long-Term Liabilities $725.2M $8.320B
YoY Change -92.92% -18.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.313B $7.313B
Total Long-Term Liabilities $725.2M $8.320B
Total Liabilities $17.22B $17.23B
YoY Change -12.33% -12.28%
SHAREHOLDERS EQUITY
Retained Earnings $19.10B
YoY Change 12.11%
Common Stock $355.0M
YoY Change -10.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.07B $12.07B
YoY Change
Total Liabilities & Shareholders Equity $29.30B $29.30B
YoY Change -2.22% -2.22%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income $785.0M $2.844B
YoY Change 10.72% 36.55%
Depreciation, Depletion And Amortization $669.4M $349.1M
YoY Change 14.73% -57.33%
Cash From Operating Activities $1.237B $3.384B
YoY Change 4.41% 13.57%
INVESTING ACTIVITIES
Capital Expenditures $116.8M $400.1M
YoY Change 7.99% 5.09%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $12.50M -$7.687M
YoY Change -23.08% -99.9%
Cash From Investing Activities -$104.3M -$298.6M
YoY Change 13.48% -96.35%
FINANCING ACTIVITIES
Cash Dividend Paid $782.0M
YoY Change 11.08%
Common Stock Issuance & Retirement, Net $332.1M
YoY Change -213.0%
Debt Paid & Issued, Net $2.385B
YoY Change 1.89%
Cash From Financing Activities -1.109B -$3.115B
YoY Change -4.02% 220.78%
NET CHANGE
Cash From Operating Activities 1.237B $3.384B
Cash From Investing Activities -104.3M -$298.6M
Cash From Financing Activities -1.109B -$3.115B
Net Change In Cash 23.59M -$53.16M
YoY Change -137.66% -99.14%
FREE CASH FLOW
Cash From Operating Activities $1.237B $3.384B
Capital Expenditures $116.8M $400.1M
Free Cash Flow $1.120B $2.984B
YoY Change 4.05% 14.81%

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CY2024 dei Auditor Firm
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CY2024 dei Auditor Name
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DELOITTE & TOUCHE LLP
CY2024 dei Auditor Location
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<div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates -</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</span></div>
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CY2023Q2 ph Nontradeandnotesreceivable
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BuildingsAndBuildingEquipment
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CY2023Q2 ph Buildings And Building Equipment
BuildingsAndBuildingEquipment
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CY2023Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
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CY2024 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q2 us-gaap Contract With Customer Asset Net Noncurrent
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CY2024Q2 us-gaap Contract With Customer Asset Net
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CY2024Q2 us-gaap Contract With Customer Liability Current
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CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
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ContractWithCustomerLiabilityNoncurrent
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CY2024Q2 us-gaap Contract With Customer Liability
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CY2023Q2 us-gaap Contract With Customer Liability
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2022 us-gaap Current Foreign Tax Expense Benefit
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DeferredForeignIncomeTaxExpenseBenefit
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CY2023 us-gaap Current State And Local Tax Expense Benefit
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CY2022 us-gaap Current State And Local Tax Expense Benefit
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CY2024 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2024 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2024 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2024 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
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CY2024Q2 us-gaap Deferred Tax Assets Deferred Income
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CY2023Q2 us-gaap Deferred Tax Assets Deferred Income
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CY2024Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2024Q2 us-gaap Deferred Tax Assets Inventory
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CY2023Q2 us-gaap Deferred Tax Assets Inventory
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CY2024Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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CY2023Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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CY2024Q2 ph Deferred Tax Liabilities Depreciation And Amortization
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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Contingencies<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is involved in various litigation matters arising in the normal course of business, including proceedings based on product liability claims, workers' compensation claims, employee claims, class action lawsuits, and alleged violations of various environmental laws. We are self-insured in the United States for health care, workers' compensation, general liability and product liability up to predetermined amounts, above which third-party insurance applies. Management regularly reviews the probable outcome of these proceedings, the expenses expected to be incurred, the availability and limits of the insurance coverage and the established accruals for liabilities. While the outcome of pending proceedings cannot be predicted with certainty, management believes that any liabilities that may result from these proceedings will not have a material adverse effect on our liquidity, financial condition or results of operations.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Environmental -</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> We are currently responsible for environmental matters primarily relating to known exposures arising from environmental litigation, investigations, and remediation at various manufacturing facilities presently or formerly operated by Parker and for which we have been named as a “potentially responsible party,” along with other companies, at off-site waste disposal facilities and</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">regional sites. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2024, we had an accrual of $85.9 million for environmental matters, which are probable and reasonably estimable. The accrual is recorded based upon the best estimate of costs to be incurred in light of the progress made in determining the magnitude of remediation costs, the timing and extent of remedial actions required by governmental authorities, the amount of our liability in proportion to other responsible parties, and outcomes of litigation. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our estimated total liability for environmental matters ranges from a minimum of $85.9 million to a maximum of $259.5 million. The largest range for any one site is approximately $66.5 million. The actual costs we will incur are dependent on final determination of contamination and required remedial action, negotiations with governmental authorities with respect to cleanup levels, changes in regulatory requirements, innovations in investigatory and remedial technologies, effectiveness of remedial technologies employed, the ability of other responsible parties to pay, outcomes of litigation, and any insurance or other third-party recoveries.</span></div>
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380747000 usd
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314450000 usd
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2875668000 usd
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2865030000 usd
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2122758000 usd
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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false
CY2024 ecd Insider Trd Policies Proc Adopted Flag
InsiderTrdPoliciesProcAdoptedFlag
true

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ph-20240630_cal.xml Edgar Link unprocessable
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