2024 Q1 Form 10-K Financial Statement

#000162828024005284 Filed on February 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.736B $2.289B $8.934B
YoY Change -20.34% -4.78% 4.02%
Cost Of Revenue $1.406B $1.812B $6.975B
YoY Change -17.8% -0.99% 5.3%
Gross Profit $330.3M $476.9M $1.960B
YoY Change -29.6% -16.87% -0.3%
Gross Profit Margin 19.02% 20.83% 21.94%
Selling, General & Admin $225.4M $263.9M $965.1M
YoY Change -1.31% 14.64% 15.35%
% of Gross Profit 68.24% 55.34% 49.24%
Research & Development $87.80M $92.80M $374.3M
YoY Change -9.02% -7.75% 2.07%
% of Gross Profit 26.58% 19.46% 19.1%
Depreciation & Amortization $62.90M $72.00M $258.9M
YoY Change 1.78% 14.47% 11.21%
% of Gross Profit 19.04% 15.1% 13.21%
Operating Expenses $313.2M $356.7M $1.339B
YoY Change -3.6% 7.83% 11.3%
Operating Profit $17.10M $120.2M $620.5M
YoY Change -89.39% -50.51% -18.6%
Interest Expense -$10.00M -$10.30M -$44.60M
YoY Change -135.34% 0.98% 91.42%
% of Operating Profit -58.48% -8.57% -7.19%
Other Income/Expense, Net $600.0K $10.90M $44.50M
YoY Change -95.16% -25.85% 55.59%
Pretax Income $7.700M $120.8M $620.4M
YoY Change -94.7% -51.03% -18.52%
Income Tax $3.800M $17.50M $117.7M
% Of Pretax Income 49.35% 14.49% 18.97%
Net Earnings $3.800M $103.4M $502.8M
YoY Change -96.65% -47.11% 12.46%
Net Earnings / Revenue 0.22% 4.52% 5.63%
Basic Earnings Per Share $0.07 $8.80
Diluted Earnings Per Share $0.07 $1.81 $8.71
COMMON SHARES
Basic Shares Outstanding 56.40M shares 56.47M shares 57.10M shares
Diluted Shares Outstanding 57.20M shares 57.70M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $318.8M $367.8M $367.8M
YoY Change -1.27% 13.34% 13.34%
Cash & Equivalents $318.8M $367.8M $367.8M
Short-Term Investments
Other Short-Term Assets $195.8M $198.0M $198.0M
YoY Change 3.0% 7.78% 7.78%
Inventory $1.953B $1.811B $1.811B
Prepaid Expenses
Receivables $254.1M $306.4M $306.4M
Other Receivables $11.10M $9.000M $9.000M
Total Short-Term Assets $2.733B $2.692B $2.692B
YoY Change -1.96% -2.74% -2.74%
LONG-TERM ASSETS
Property, Plant & Equipment $1.359B $1.345B $1.345B
YoY Change 28.37% 19.13% 19.13%
Goodwill $392.4M $394.4M
YoY Change 1.26% 2.12%
Intangibles $507.3M $512.0M
YoY Change -2.48% -2.36%
Long-Term Investments $139.6M $141.1M $141.1M
YoY Change 44.66% 51.56% 51.56%
Other Assets $436.8M $431.7M $431.7M
YoY Change 307.46% 36.1% 36.1%
Total Long-Term Assets $2.835B $2.825B $2.825B
YoY Change 13.27% 15.28% 15.28%
TOTAL ASSETS
Total Short-Term Assets $2.733B $2.692B $2.692B
Total Long-Term Assets $2.835B $2.825B $2.825B
Total Assets $5.567B $5.516B $5.516B
YoY Change 5.25% 5.72% 5.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $779.0M $713.1M $713.1M
YoY Change -10.47% -15.87% -15.87%
Accrued Expenses $1.018B $1.124B $1.124B
YoY Change 22.37% 22.01% 22.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $54.00M $54.00M $54.00M
YoY Change -90.25% -90.25% -90.25%
Total Short-Term Liabilities $1.861B $1.934B $1.934B
YoY Change -19.05% -16.95% -16.95%
LONG-TERM LIABILITIES
Long-Term Debt $2.014B $1.854B $1.854B
YoY Change 30.01% 23.28% 23.28%
Other Long-Term Liabilities $309.3M $307.3M $307.3M
YoY Change 13.05% 10.14% 10.14%
Total Long-Term Liabilities $2.324B $2.162B $2.162B
YoY Change 749.23% 21.23% 21.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.861B $1.934B $1.934B
Total Long-Term Liabilities $2.324B $2.162B $2.162B
Total Liabilities $4.189B $4.098B $4.098B
YoY Change 1.65% -0.51% -0.51%
SHAREHOLDERS EQUITY
Retained Earnings $197.3M $243.5M
YoY Change 244.33% 620.41%
Common Stock $600.0K $600.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.378B $1.418B $1.418B
YoY Change
Total Liabilities & Shareholders Equity $5.567B $5.516B $5.516B
YoY Change 5.25% 5.72% 5.72%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $3.800M $103.4M $502.8M
YoY Change -96.65% -47.11% 12.46%
Depreciation, Depletion And Amortization $62.90M $72.00M $258.9M
YoY Change 1.78% 14.47% 11.21%
Cash From Operating Activities -$105.4M $549.8M $925.8M
YoY Change -184.86% 39.19% 82.03%
INVESTING ACTIVITIES
Capital Expenditures $72.10M $100.9M $412.6M
YoY Change -23.62% -189.29% -234.57%
Acquisitions $22.70M
YoY Change -153.79%
Other Investing Activities $15.40M -$15.20M -$49.40M
YoY Change 190.57% -71.54% 174.44%
Cash From Investing Activities -$56.70M -$116.1M -$462.0M
YoY Change -36.36% -30.23% 42.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$125.8M
YoY Change -73.29%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 115.7M -369.9M -431.3M
YoY Change -378.13% 55.49% 18.75%
NET CHANGE
Cash From Operating Activities -105.4M 549.8M 925.8M
Cash From Investing Activities -56.70M -116.1M -462.0M
Cash From Financing Activities 115.7M -369.9M -431.3M
Net Change In Cash -46.40M 63.80M 32.50M
YoY Change 2800.0% -786.02% -118.14%
FREE CASH FLOW
Cash From Operating Activities -$105.4M $549.8M $925.8M
Capital Expenditures $72.10M $100.9M $412.6M
Free Cash Flow -$177.5M $448.9M $513.2M
YoY Change -695.64% -11.63% -37.05%

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CY2021Q4 us-gaap Goodwill
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CY2022Q4 us-gaap Goodwill
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CY2023 us-gaap Goodwill Acquired During Period
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CY2023Q4 us-gaap Goodwill
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CY2023Q4 pii Lessee Liability Payments Due Next Twelve Months
LesseeLiabilityPaymentsDueNextTwelveMonths
36100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
18800000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
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CY2023Q4 pii Lessee Liability Payments Due Year Four
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2023Q4 pii Lessee Liability Payments Due Year Five
LesseeLiabilityPaymentsDueYearFive
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2023Q4 us-gaap Finance Lease Liability Payments Due After Year Five
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CY2023Q4 pii Lessee Liability Payments Dueafter Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Finance Lease Liability Payments Due
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CY2023Q4 pii Lessee Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2023Q4 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Finance Lease Liability
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CY2023Q4 pii Lessee Operating Lease Lease Not Yet Commenced Amount
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CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P6Y3M3D
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0245
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0522
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
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CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
45600000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
40400000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
600000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
600000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1500000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1400000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
57400000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
52800000 usd
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
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136700000 usd
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
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107500000 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8934400000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8589000000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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7439200000 usd
CY2023 us-gaap Gross Profit
GrossProfit
1959900000 usd
CY2022 us-gaap Gross Profit
GrossProfit
1959500000 usd
CY2021 us-gaap Gross Profit
GrossProfit
1750900000 usd
CY2023 dei Auditor Firm
AuditorFirmId
42
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001628280-24-005284.txt Edgar Link pending
0001628280-24-005284-xbrl.zip Edgar Link pending
exhibit21-subsidiariesx123.htm Edgar Link pending
exhibit23-consentx12312023.htm Edgar Link pending
exhibit24-poax12312023.htm Edgar Link pending
exhibit31a-12312023.htm Edgar Link pending
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