2022 Q1 Form 10-Q Financial Statement

#000076462222000029 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $783.5M $798.9M $696.5M
YoY Change 12.5% 7.81% 5.22%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $203.6M $186.8M $176.4M
YoY Change 15.44% 9.5% 1.87%
% of Gross Profit
Operating Expenses $729.0M $748.8M $622.0M
YoY Change 17.21% 5.46% 5.17%
Operating Profit $54.49M $47.53M
YoY Change 14.64% 17.59%
Interest Expense $60.91M -$47.16M $56.94M
YoY Change 6.96% 0.55% 3.24%
% of Operating Profit 111.77% 119.8%
Other Income/Expense, Net $31.84M $25.04M $45.57M
YoY Change -30.14% -236.1% 55.05%
Pretax Income $25.42M $27.90M $36.20M
YoY Change -29.77% -181.11% 146.98%
Income Tax $4.161M $32.57M -$4.350M
% Of Pretax Income 16.37% 116.73% -12.02%
Net Earnings $21.26M $27.58M $40.51M
YoY Change -47.52% -242.19% 16.2%
Net Earnings / Revenue 2.71% 3.45% 5.82%
Basic Earnings Per Share $0.15 $0.32
Diluted Earnings Per Share $0.15 $243.6K $0.32
COMMON SHARES
Basic Shares Outstanding 113.1M shares 112.8M shares 112.8M shares
Diluted Shares Outstanding 113.3M shares 113.1M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.97M $9.969M $17.00M
YoY Change -17.84% -83.39% -73.02%
Cash & Equivalents $13.97M $9.969M $17.20M
Short-Term Investments
Other Short-Term Assets $69.47M $83.90M $86.24M
YoY Change -19.44% 9.49% 4.44%
Inventory $379.1M $367.2M $339.0M
Prepaid Expenses
Receivables $300.0M $366.6M $243.0M
Other Receivables $6.972M $7.514M $0.00
Total Short-Term Assets $1.595B $1.551B $1.170B
YoY Change 36.32% 29.44% 8.48%
LONG-TERM ASSETS
Property, Plant & Equipment $14.25B $14.18B $13.76B
YoY Change 3.55% 3.33% 4.66%
Goodwill
YoY Change
Intangibles $269.8M $273.7M $278.2M
YoY Change -3.03% -3.14% -0.36%
Long-Term Investments
YoY Change
Other Assets $105.6M $97.88M $88.49M
YoY Change 19.35% 7.44% -9.54%
Total Long-Term Assets $20.61B $20.45B $19.01B
YoY Change 8.37% 8.66% 8.76%
TOTAL ASSETS
Total Short-Term Assets $1.595B $1.551B $1.170B
Total Long-Term Assets $20.61B $20.45B $19.01B
Total Assets $22.20B $22.00B $20.18B
YoY Change 9.99% 9.9% 8.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $343.3M $393.1M $309.1M
YoY Change 11.03% 23.38% 2.6%
Accrued Expenses $162.6M $157.8M $133.0M
YoY Change 22.25% 19.53% 101.52%
Deferred Revenue $41.63M $42.29M $45.17M
YoY Change -7.84% -12.51% -17.82%
Short-Term Debt $263.0M $292.0M $214.8M
YoY Change 22.44% 72.78% -61.86%
Long-Term Debt Due $0.00 $150.0M
YoY Change
Total Short-Term Liabilities $1.597B $1.757B $1.331B
YoY Change 20.01% 29.14% -42.04%
LONG-TERM LIABILITIES
Long-Term Debt $7.227B $6.914B $6.465B
YoY Change 11.78% 9.49% 33.76%
Other Long-Term Liabilities $231.1M $232.9M $206.2M
YoY Change 12.08% 22.17% 26.09%
Total Long-Term Liabilities $7.458B $7.147B $6.671B
YoY Change 11.79% 9.87% 33.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.597B $1.757B $1.331B
Total Long-Term Liabilities $7.458B $7.147B $6.671B
Total Liabilities $9.054B $8.904B $8.002B
YoY Change 13.16% 13.2% 9.73%
SHAREHOLDERS EQUITY
Retained Earnings $3.282B $3.265B $3.061B
YoY Change 7.22% 7.92% 6.74%
Common Stock $2.706B $2.703B $2.687B
YoY Change 0.72% 0.94% 0.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.648M $6.401M $3.776M
YoY Change -3.39% 1.78% -46.06%
Treasury Stock Shares 50.92K shares 87.61K shares 44.34K shares
Shareholders Equity $5.931B $5.906B $5.683B
YoY Change
Total Liabilities & Shareholders Equity $22.20B $22.00B $20.18B
YoY Change 9.99% 9.9% 8.74%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income $21.26M $27.58M $40.51M
YoY Change -47.52% -242.19% 16.2%
Depreciation, Depletion And Amortization $203.6M $186.8M $176.4M
YoY Change 15.44% 9.5% 1.87%
Cash From Operating Activities $340.6M $199.5M $202.0M
YoY Change 68.61% 2.62% 10.01%
INVESTING ACTIVITIES
Capital Expenditures -$391.6M -$467.0M -$363.8M
YoY Change 7.64% 31.38% 7.0%
Acquisitions
YoY Change
Other Investing Activities $6.543M $42.43M -$5.974M
YoY Change -209.52% 27.41% 1611.75%
Cash From Investing Activities -$374.3M -$424.6M -$348.1M
YoY Change 7.55% 31.75% 2.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.005M -$738.0K
YoY Change 36.18%
Debt Paid & Issued, Net $150.0M $0.00
YoY Change -100.0%
Cash From Financing Activities $37.73M 209.4M $103.3M
YoY Change -63.47% 3389.95% -50.9%
NET CHANGE
Cash From Operating Activities $340.6M 199.5M $202.0M
Cash From Investing Activities -$374.3M -424.6M -$348.1M
Cash From Financing Activities $37.73M 209.4M $103.3M
Net Change In Cash $3.999M -15.72M -$42.77M
YoY Change -109.35% -87.11% -180.91%
FREE CASH FLOW
Cash From Operating Activities $340.6M $199.5M $202.0M
Capital Expenditures -$391.6M -$467.0M -$363.8M
Free Cash Flow $732.2M $666.5M $565.8M
YoY Change 29.41% 21.21% 8.06%

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193000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
264000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113295000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113093000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2022Q1 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
8621000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
297623000 USD
CY2022Q1 pnw Decommissioning Fund Investments Fair Value Net Pending Securities Salesand Purchases
DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases
568428000 USD
CY2022Q1 us-gaap Decommissioning Trust Assets Amount
DecommissioningTrustAssetsAmount
1227465000 USD
CY2022Q1 pnw Special Use Fund Investments Other Net Fair Value Pending Salesand Purchases
SpecialUseFundInvestmentsOtherNetFairValuePendingSalesandPurchases
1112000 USD
CY2022Q1 pnw Special Use Fund Investments Other Gross Fair Value
SpecialUseFundInvestmentsOtherGrossFairValue
349042000 USD
CY2022Q1 pnw Assets Fair Value Gross Liabilityand Net Pending Securities Salesand Purchases
AssetsFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases
560919000 USD
CY2022Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1874130000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
1554000 USD
CY2022Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
1706000 USD
CY2021Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
4690000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
110389000 USD
CY2021Q4 pnw Decommissioning Fund Investments Fair Value Net Pending Securities Salesand Purchases
DecommissioningFundInvestmentsFairValueNetPendingSecuritiesSalesandPurchases
567266000 USD
CY2021Q4 us-gaap Decommissioning Trust Assets Amount
DecommissioningTrustAssetsAmount
1294757000 USD
CY2021Q4 pnw Special Use Fund Investments Other Net Fair Value Pending Salesand Purchases
SpecialUseFundInvestmentsOtherNetFairValuePendingSalesandPurchases
936000 USD
CY2021Q4 pnw Special Use Fund Investments Other Gross Fair Value
SpecialUseFundInvestmentsOtherGrossFairValue
358410000 USD
CY2021Q4 pnw Assets Fair Value Gross Liabilityand Net Pending Securities Salesand Purchases
AssetsFairValueGrossLiabilityandNetPendingSecuritiesSalesandPurchases
563512000 USD
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1763556000 USD
CY2021Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
3105000 USD
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
4373000 USD
CY2022Q1 pnw Stated Interest Ratefor Notes Receivable
StatedInterestRateforNotesReceivable
0.039
CY2022Q1 us-gaap Notes Receivable Net
NotesReceivableNet
4600000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
252000 USD
CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-901000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
262000 USD
CY2021Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1022000 USD

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