2022 Q4 Form 10-Q Financial Statement

#000162828022026955 Filed on October 25, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $2.404B $2.341B $1.960B
YoY Change 10.77% 19.45% 0.25%
Cost Of Revenue $1.830B $1.781B $1.494B
YoY Change 6.1% 19.24% 5.2%
Gross Profit $573.7M $559.2M $465.6M
YoY Change 28.86% 20.1% -12.91%
Gross Profit Margin 23.86% 23.89% 23.76%
Selling, General & Admin $230.2M $218.5M $234.8M
YoY Change 4.02% -6.94% -0.55%
% of Gross Profit 40.13% 39.07% 50.43%
Research & Development $100.6M $98.50M $86.80M
YoY Change 23.28% 13.48% 12.44%
% of Gross Profit 17.54% 17.61% 18.64%
Depreciation & Amortization $62.90M $51.70M $59.90M
YoY Change 6.79% -13.69% -5.52%
% of Gross Profit 10.96% 9.25% 12.87%
Operating Expenses $330.8M $317.0M $321.6M
YoY Change 9.21% -1.43% 2.65%
Operating Profit $242.9M $254.3M $155.3M
YoY Change 70.7% 63.75% -35.13%
Interest Expense -$10.20M $20.10M $10.80M
YoY Change -828.57% 86.11% -37.57%
% of Operating Profit -4.2% 7.9% 6.95%
Other Income/Expense, Net $14.70M $7.400M -$100.0K
YoY Change -286.08% -7500.0% -96.88%
Pretax Income $246.7M $241.6M $144.4M
YoY Change 149.19% 67.31% -34.03%
Income Tax $50.10M $50.90M $29.60M
% Of Pretax Income 20.31% 21.07% 20.5%
Net Earnings $195.5M $186.3M $114.6M
YoY Change 125.23% 62.57% -31.29%
Net Earnings / Revenue 8.13% 7.96% 5.85%
Basic Earnings Per Share $3.15 $1.88
Diluted Earnings Per Share $3.342M $3.10 $1.84
COMMON SHARES
Basic Shares Outstanding 57.96M shares 59.56M shares 61.00M shares
Diluted Shares Outstanding 60.00M shares 62.30M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $324.5M $318.9M $316.5M
YoY Change -36.27% 0.76% -61.43%
Cash & Equivalents $324.5M $318.9M $316.5M
Short-Term Investments
Other Short-Term Assets $183.7M $158.3M $114.3M
YoY Change 14.45% 38.5% 15.92%
Inventory $1.896B $1.929B $1.774B
Prepaid Expenses
Receivables $343.0M $329.5M $242.7M
Other Receivables $20.30M $98.70M $600.0K
Total Short-Term Assets $2.768B $2.835B $2.448B
YoY Change 8.15% 15.81% 2.86%
LONG-TERM ASSETS
Property, Plant & Equipment $1.129B $957.9M $931.4M
YoY Change 21.74% 2.85% 7.64%
Goodwill $386.2M $379.7M $393.2M
YoY Change -1.3% -3.43% 0.08%
Intangibles $524.4M $527.9M $660.0M
YoY Change -3.59% -20.02% -4.95%
Long-Term Investments $93.10M $58.60M $31.40M
YoY Change 88.84% 86.62% -30.07%
Other Assets $317.2M $78.90M $81.20M
YoY Change 226.34% -2.83% -28.9%
Total Long-Term Assets $2.450B $2.259B $2.423B
YoY Change -1.55% -6.77% 0.78%
TOTAL ASSETS
Total Short-Term Assets $2.768B $2.835B $2.448B
Total Long-Term Assets $2.450B $2.259B $2.423B
Total Assets $5.218B $5.093B $4.870B
YoY Change 3.37% 4.58% 1.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $847.6M $850.8M $928.2M
YoY Change 9.23% -8.34% 17.39%
Accrued Expenses $920.9M $772.9M $829.7M
YoY Change 21.73% -6.85% -4.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $553.6M $553.5M $53.30M
YoY Change 0.05% 938.46% -90.17%
Total Short-Term Liabilities $2.329B $2.213B $1.845B
YoY Change 4.42% 19.94% -17.61%
LONG-TERM LIABILITIES
Long-Term Debt $1.504B $1.581B $1.470B
YoY Change 20.59% 7.54% 11.17%
Other Long-Term Liabilities $279.0M $165.2M $181.7M
YoY Change 57.98% -9.08% 14.06%
Total Long-Term Liabilities $1.783B $165.2M $181.7M
YoY Change 25.22% -9.08% 14.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.329B $2.213B $1.845B
Total Long-Term Liabilities $1.783B $165.2M $181.7M
Total Liabilities $4.119B $4.062B $3.645B
YoY Change 8.1% 11.44% -4.57%
SHAREHOLDERS EQUITY
Retained Earnings $33.80M -$20.20M $150.5M
YoY Change -78.51% -113.42% 155.08%
Common Stock $600.0K $600.0K $600.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.099B $1.017B $1.212B
YoY Change
Total Liabilities & Shareholders Equity $5.218B $5.093B $4.870B
YoY Change 3.37% 4.58% 1.81%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $195.5M $186.3M $114.6M
YoY Change 125.23% 62.57% -31.29%
Depreciation, Depletion And Amortization $62.90M $51.70M $59.90M
YoY Change 6.79% -13.69% -5.52%
Cash From Operating Activities $395.0M $170.6M -$42.20M
YoY Change 181.54% -504.27% -111.53%
INVESTING ACTIVITIES
Capital Expenditures -$113.0M -$74.20M -$84.90M
YoY Change 14.14% -12.6% 94.28%
Acquisitions
YoY Change
Other Investing Activities -$53.40M $23.90M -$600.0K
YoY Change 35.88% -4083.33% -102.18%
Cash From Investing Activities -$166.4M -$50.30M -$85.50M
YoY Change 20.32% -41.17% 427.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -237.9M -112.3M 159.4M
YoY Change -222.95% -170.45% -303.84%
NET CHANGE
Cash From Operating Activities 395.0M 170.6M -42.20M
Cash From Investing Activities -166.4M -50.30M -85.50M
Cash From Financing Activities -237.9M -112.3M 159.4M
Net Change In Cash -9.300M 8.000M 31.70M
YoY Change -104.76% -74.76% -88.33%
FREE CASH FLOW
Cash From Operating Activities $395.0M $170.6M -$42.20M
Capital Expenditures -$113.0M -$74.20M -$84.90M
Free Cash Flow $508.0M $244.8M $42.70M
YoY Change 112.29% 473.3% -89.58%

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EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3700000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
9200000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
9300000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
11600000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
11700000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
29100000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
29500000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
61900000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y4M24D
CY2022Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0520
CY2022Q3 us-gaap Finance Lease Liability
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10800000 usd
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
13500000 usd
CY2022Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5800000 usd
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
7100000 usd
CY2022Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
2134400000 usd
CY2021Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1800700000 usd
CY2022Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
553500000 usd
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
553300000 usd
CY2022Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1580900000 usd
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1247400000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
379700000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
391300000 usd
CY2022Q3 us-gaap Intangible Assets Net Excluding Goodwill
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527900000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
543900000 usd
CY2022Q3 us-gaap Intangible Assets Net Including Goodwill
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907600000 usd
CY2021Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
935200000 usd
CY2021Q4 us-gaap Goodwill Gross
GoodwillGross
472400000 usd
CY2021Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
81100000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
391300000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-11600000 usd
CY2022Q3 us-gaap Goodwill Gross
GoodwillGross
460800000 usd
CY2022Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
81100000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
379700000 usd
CY2020Q4 us-gaap Goodwill Gross
GoodwillGross
478400000 usd
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
81100000 usd
CY2020Q4 us-gaap Goodwill
Goodwill
397300000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-4100000 usd
CY2021Q3 us-gaap Goodwill Gross
GoodwillGross
474300000 usd
CY2021Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
81100000 usd
CY2021Q3 us-gaap Goodwill
Goodwill
393200000 usd
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
270300000 usd
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P19Y
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
345000000.0 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
355200000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
78800000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
74800000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
266200000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
280400000 usd
CY2022Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
527900000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
543900000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4500000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16900000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
4500000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
17700000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
17700000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
17700000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
173200000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
378500000 usd
CY2022Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
475600000 shares
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.64
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.64
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.63
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.92
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.89
CY2022Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
58800000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
60600000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
59400000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
61100000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
200000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
200000 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
200000 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
200000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
200000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
200000 shares
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
200000 shares
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
100000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59200000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61000000.0 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61400000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60000000.0 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62900000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1400000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1600000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-77400000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
2800000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-64400000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-38800000 usd
CY2022Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-119000000.0 usd
CY2022Q3 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-3000000.0 usd
CY2021Q3 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
2300000 usd
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-2800000 usd
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
7000000.0 usd
CY2022Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
58600000 usd
CY2022Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
79500000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2340600000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1777700000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6184900000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5446600000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
559200000 usd
CY2021Q3 us-gaap Gross Profit
GrossProfit
420000000.0 usd
us-gaap Gross Profit
GrossProfit
1386500000 usd
us-gaap Gross Profit
GrossProfit
1349200000 usd

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