2021 Q4 Form 10-K Financial Statement

#000141332922000011 Filed on February 11, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $8.104B $31.41B $7.444B
YoY Change 8.87% 9.45% -3.49%
Cost Of Revenue $2.807B $10.03B $2.572B
YoY Change 9.14% 4.82% -7.42%
Gross Profit $5.297B $21.38B $4.872B
YoY Change 8.72% 11.76% -1.28%
Gross Profit Margin 65.36% 68.06% 65.45%
Selling, General & Admin $2.263B $8.088B $1.871B
YoY Change 20.95% 11.79% -9.0%
% of Gross Profit 42.72% 37.84% 38.4%
Research & Development $617.0M
YoY Change 24.65%
% of Gross Profit 2.89%
Depreciation & Amortization $279.0M $902.0M $272.0M
YoY Change 2.57% -0.66% 6.67%
% of Gross Profit 5.27% 4.22% 5.58%
Operating Expenses $2.304B $617.0M $1.889B
YoY Change 21.97% 24.65% -8.83%
Operating Profit $2.993B $12.98B $2.983B
YoY Change 0.34% 11.2% 4.19%
Interest Expense -$146.0M $737.0M -$164.0M
YoY Change -10.98% 1.24% 20.59%
% of Operating Profit -4.88% 5.68% -5.5%
Other Income/Expense, Net -$33.00M -$115.0M -$29.00M
YoY Change 13.79% 18.56% 3.57%
Pretax Income $2.768B $12.23B $2.712B
YoY Change 2.06% 11.68% 15.8%
Income Tax $593.0M $2.671B $613.0M
% Of Pretax Income 21.42% 21.84% 22.6%
Net Earnings $2.093B $9.109B $1.976B
YoY Change 5.92% 13.07% 22.28%
Net Earnings / Revenue 25.83% 29.0% 26.54%
Basic Earnings Per Share $5.83 $1.27
Diluted Earnings Per Share $1.344M $5.83 $1.27
COMMON SHARES
Basic Shares Outstanding 1.557B shares 1.558B shares 1.557B shares
Diluted Shares Outstanding 1.559B shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.496B $4.496B $7.280B
YoY Change -38.24% -38.24% 6.11%
Cash & Equivalents $4.496B $4.496B $7.280B
Short-Term Investments
Other Short-Term Assets $561.0M $561.0M $860.0M
YoY Change -34.77% -34.77% 22.68%
Inventory $8.720B $8.720B $9.591B
Prepaid Expenses
Receivables $3.123B $3.123B $2.905B
Other Receivables $817.0M $817.0M $856.0M
Total Short-Term Assets $17.72B $17.72B $21.49B
YoY Change -17.56% -17.56% 4.77%
LONG-TERM ASSETS
Property, Plant & Equipment $6.694B $6.694B $6.365B
YoY Change 5.17% -5.21% -4.01%
Goodwill $6.680B $5.964B
YoY Change 12.01% 1.81%
Intangibles $2.818B $2.019B
YoY Change 39.57% -4.45%
Long-Term Investments $879.0M $4.463B $966.0M
YoY Change -9.01% -6.98% -8.26%
Other Assets $2.549B $2.918B $2.767B
YoY Change -7.88% -16.15% 40.39%
Total Long-Term Assets $23.57B $23.57B $23.32B
YoY Change 1.07% 1.07% 4.3%
TOTAL ASSETS
Total Short-Term Assets $17.72B $17.72B $21.49B
Total Long-Term Assets $23.57B $23.57B $23.32B
Total Assets $41.29B $41.29B $44.82B
YoY Change -7.87% -7.87% 4.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.331B $3.331B $2.780B
YoY Change 19.82% 19.82% 20.92%
Accrued Expenses $9.918B $9.918B $10.50B
YoY Change -5.51% -5.51% 11.36%
Deferred Revenue
YoY Change
Short-Term Debt $225.0M $225.0M $244.0M
YoY Change -7.79% -7.79% -27.81%
Long-Term Debt Due $2.798B $2.798B $3.124B
YoY Change -10.44% -10.44% -22.88%
Total Short-Term Liabilities $19.26B $19.26B $19.62B
YoY Change -1.84% -1.84% 4.15%
LONG-TERM LIABILITIES
Long-Term Debt $24.78B $24.78B $28.17B
YoY Change -12.02% -12.02% 5.67%
Other Long-Term Liabilities $4.734B $4.734B $6.979B
YoY Change -32.17% -32.17% 14.84%
Total Long-Term Liabilities $29.52B $29.52B $35.15B
YoY Change -16.02% -16.02% 7.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.26B $19.26B $19.62B
Total Long-Term Liabilities $29.52B $29.52B $35.15B
Total Liabilities $49.50B $51.40B $55.45B
YoY Change -10.73% -10.43% 5.66%
SHAREHOLDERS EQUITY
Retained Earnings $33.08B $31.64B
YoY Change 4.56% 2.1%
Common Stock $2.225B $2.105B
YoY Change 5.7% 4.26%
Preferred Stock
YoY Change
Treasury Stock (at cost) $35.84B $35.13B
YoY Change 2.01% -0.26%
Treasury Stock Shares 559.1M shares 551.9M shares
Shareholders Equity -$10.11B -$10.11B -$12.57B
YoY Change
Total Liabilities & Shareholders Equity $41.29B $41.29B $44.82B
YoY Change -7.87% -7.87% 4.52%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $2.093B $9.109B $1.976B
YoY Change 5.92% 13.07% 22.28%
Depreciation, Depletion And Amortization $279.0M $902.0M $272.0M
YoY Change 2.57% -0.66% 6.67%
Cash From Operating Activities $4.032B $11.97B $3.162B
YoY Change 27.51% 21.96% -4.87%
INVESTING ACTIVITIES
Capital Expenditures -$289.0M $748.0M -$140.0M
YoY Change 106.43% 24.25% -10.26%
Acquisitions $2.111B
YoY Change
Other Investing Activities -$51.00M -$69.00M -$446.0M
YoY Change -88.57% 50.0% 1492.86%
Cash From Investing Activities -$340.0M -$2.358B -$586.0M
YoY Change -41.98% 104.33% 218.48%
FINANCING ACTIVITIES
Cash Dividend Paid $7.580B
YoY Change 2.93%
Common Stock Issuance & Retirement, Net $775.0M
YoY Change
Debt Paid & Issued, Net $3.042B
YoY Change -23.93%
Cash From Financing Activities -3.801B -$11.98B -465.0M
YoY Change 717.42% 40.97% -84.29%
NET CHANGE
Cash From Operating Activities 4.032B $11.97B 3.162B
Cash From Investing Activities -340.0M -$2.358B -586.0M
Cash From Financing Activities -3.801B -$11.98B -465.0M
Net Change In Cash -109.0M -$2.785B 2.111B
YoY Change -105.16% -763.1% 1066.3%
FREE CASH FLOW
Cash From Operating Activities $4.032B $11.97B $3.162B
Capital Expenditures -$289.0M $748.0M -$140.0M
Free Cash Flow $4.321B $11.22B $3.302B
YoY Change 30.86% 21.81% -5.11%

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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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EffectiveIncomeTaxRateReconciliationForeignDerivedIntangibleIncome
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CY2020 pm Effective Income Tax Rate Reconciliation Foreign Derived Intangible Income
EffectiveIncomeTaxRateReconciliationForeignDerivedIntangibleIncome
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CY2019 pm Effective Income Tax Rate Reconciliation Foreign Derived Intangible Income
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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CY2019 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020Q4 pm Postemployment Benefits Assumptions Used Calculating Benefit Obligation Discount Rate
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CY2021 pm Supplemental Postemployment Annual Weightedaverage Turnover Rate
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CY2020 pm Supplemental Postemployment Annual Weightedaverage Turnover Rate
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CY2021 pm Supplemental Postemployment Percentage Increasein Assumed Compensation Cost
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CY2021Q4 pm Assets Related To Postemployment Cost
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CY2021 pm Other Comprehensive Income Reclassification Of Defined Benefit Plan Other Income Expense Net Gain Loss Recognized In Net Period Benefit Cost Before Tax
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CY2020 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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CY2019 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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31000000 USD
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CY2021Q4 pm Loss Contingency Claims Resolvedin Favorofthe Company
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
84000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
54000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
1000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
24000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
140000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
1000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
648000000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
72000000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
112000000 USD
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1000000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
536000000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
71000000 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
259000000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
238000000 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
240000000 USD
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
26000000 USD
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
19000000 USD
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
15000000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
64000000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
89000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
149000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
32000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
221000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
38000000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y3M18D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y1M6D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y7M6D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.036
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.053
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.043
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.067
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.044
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.071
CY2021 dei Auditor Name
AuditorName
PricewaterhouseCoopers SA
CY2021 dei Auditor Location
AuditorLocation
Lausanne, Switzerland
CY2021 dei Auditor Firm
AuditorFirmId
1358

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