2024 Q3 Form 10-Q Financial Statement

#000082241624000029 Filed on July 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $4.476B $4.600B
YoY Change 11.81% 9.81%
Cost Of Revenue $3.117B $3.156B
YoY Change 12.32% 7.52%
Gross Profit $1.360B $1.443B
YoY Change 10.65% 15.18%
Gross Profit Margin 30.38% 31.38%
Selling, General & Admin $406.9M $361.1M
YoY Change 15.21% 14.78%
% of Gross Profit 29.92% 25.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.08M $21.83M
YoY Change 7.41% 8.8%
% of Gross Profit 1.62% 1.51%
Operating Expenses $406.9M $361.1M
YoY Change 15.21% 14.74%
Operating Profit $952.9M $1.082B
YoY Change 8.81% 15.32%
Interest Expense $16.14M $19.19M
YoY Change -19.62% 19.01%
% of Operating Profit 1.69% 1.77%
Other Income/Expense, Net $9.702M $13.32M
YoY Change -42.0% -1.93%
Pretax Income $906.2M $1.048B
YoY Change 6.95% 10.0%
Income Tax $208.3M $239.2M
% Of Pretax Income 22.98% 22.82%
Net Earnings $697.9M $809.1M
YoY Change 9.26% 12.71%
Net Earnings / Revenue 15.59% 17.59%
Basic Earnings Per Share $3.38 $3.86
Diluted Earnings Per Share $3.35 $3.83
COMMON SHARES
Basic Shares Outstanding 207.5M shares 210.3M shares
Diluted Shares Outstanding 208.5M shares 211.2M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.398B $1.393B
YoY Change -24.39% -19.43%
Cash & Equivalents $1.398B $1.393B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $12.64B $12.30B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $14.04B $13.70B
YoY Change 4.51% 4.83%
LONG-TERM ASSETS
Property, Plant & Equipment $72.70M $73.80M
YoY Change 4.01% 1.1%
Goodwill $68.93M $68.93M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $213.0M $210.2M
YoY Change 31.26% -63.99%
Other Assets $130.1M $128.9M
YoY Change -14.46% -15.37%
Total Long-Term Assets $2.915B $2.849B
YoY Change 27.68% 31.76%
TOTAL ASSETS
Total Short-Term Assets $14.04B $13.70B
Total Long-Term Assets $2.915B $2.849B
Total Assets $16.96B $16.54B
YoY Change 7.88% 8.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $704.7M $651.6M
YoY Change 24.16% 19.9%
Accrued Expenses $1.539B $1.460B
YoY Change -5.51% -4.95%
Deferred Revenue
YoY Change
Short-Term Debt $524.1M $524.0M
YoY Change 23.18% 66.06%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.366B $3.290B
YoY Change -0.77% 3.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.624B $1.650B
YoY Change -18.05% -18.84%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.624B $1.650B
YoY Change -18.05% -18.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.366B $3.290B
Total Long-Term Liabilities $1.624B $1.650B
Total Liabilities $5.391B $5.321B
YoY Change -5.5% -3.62%
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 $11.56B $11.22B
YoY Change
Total Liabilities & Shareholders Equity $16.96B $16.54B
YoY Change 7.88% 8.66%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $697.9M $809.1M
YoY Change 9.26% 12.71%
Depreciation, Depletion And Amortization $22.08M $21.83M
YoY Change 7.41% 8.8%
Cash From Operating Activities $455.9M $417.5M
YoY Change -0.4% -43.52%
INVESTING ACTIVITIES
Capital Expenditures $38.75M $31.24M
YoY Change 72.33% 46.44%
Acquisitions
YoY Change
Other Investing Activities -$3.401M -$8.071M
YoY Change -81.67% -4.47%
Cash From Investing Activities -$42.15M -$39.31M
YoY Change 2.71% 32.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -404.6M -698.3M
YoY Change 37.18% 170.12%
NET CHANGE
Cash From Operating Activities 455.9M 417.5M
Cash From Investing Activities -42.15M -39.31M
Cash From Financing Activities -404.6M -698.3M
Net Change In Cash 9.170M -320.1M
YoY Change -92.47% -170.99%
FREE CASH FLOW
Cash From Operating Activities $455.9M $417.5M
Capital Expenditures $38.75M $31.24M
Free Cash Flow $417.2M $386.2M
YoY Change -4.16% -46.2%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of estimates</span></div><div style="text-indent:18pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of 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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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Credit losses</span></div>We are exposed to credit losses primarily through our vendors and insurance carriers. We assess and monitor each counterparty’s ability to pay amounts owed by considering contractual terms and conditions, the counterparty’s financial condition, macroeconomic factors, and business strategy. Our
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CY2024Q2 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
11644000 usd
CY2023Q2 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
8048000 usd
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
20247000 usd
CY2024Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
506523000 usd
CY2023Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
605192000 usd
CY2024Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
506523000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
73800000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
87000000.0 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
77400000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
91600000 usd
CY2024Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1900000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5500000 usd
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4400000 usd
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
5800000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
11700000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
6000000.0 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
15200000 usd
us-gaap Lease Cost
LeaseCost
30200000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
14300000 usd
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
2500000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
6100000 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
3200000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6000000.0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
10800000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
4500000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
15447000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
22796000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16900000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13337000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10760000 usd
CY2024Q2 phm Lessee Operating Lease Liabilitytobe Paidafter Year Four
LesseeOperatingLeaseLiabilitytobePaidafterYearFour
16502000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
95742000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8725000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
87017000 usd
CY2024Q2 phm Lessee Operating Lease Lease Not Yet Commenced Liability
LesseeOperatingLeaseLeaseNotYetCommencedLiability
34300000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M18D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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