2024 Q4 Form 10-K Financial Statement

#000153095024000365 Filed on November 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2024
Revenue $2.010B $7.923B
YoY Change 3.33% 13.33%
Cost Of Revenue $1.435B $5.618B
YoY Change 2.92% 9.95%
Gross Profit $575.4M $2.305B
YoY Change 4.35% 22.49%
Gross Profit Margin 28.63% 29.09%
Selling, General & Admin $340.9M $1.330B
YoY Change 10.15% 23.37%
% of Gross Profit 59.25% 57.72%
Research & Development $29.00M
YoY Change 26.64%
% of Gross Profit 1.26%
Depreciation & Amortization $124.2M $476.9M
YoY Change 9.14% 17.15%
% of Gross Profit 21.58% 20.69%
Operating Expenses $383.7M $1.359B
YoY Change 7.72% 23.44%
Operating Profit $191.7M $793.5M
YoY Change -1.79% 32.49%
Interest Expense -$90.60M $316.5M
YoY Change 58.39% 13.4%
% of Operating Profit -47.26% 39.89%
Other Income/Expense, Net $4.300M $12.90M
YoY Change -121.29% 69.74%
Pretax Income $97.90M $472.1M
YoY Change 3.16% 14.34%
Income Tax $16.30M $105.1M
% Of Pretax Income 16.65% 22.26%
Net Earnings $81.60M $366.7M
YoY Change 24.2% 21.71%
Net Earnings / Revenue 4.06% 4.63%
Basic Earnings Per Share $6.12
Diluted Earnings Per Share $1.24 $5.64
COMMON SHARES
Basic Shares Outstanding 58.45M shares 58.43M shares 59.90M shares
Diluted Shares Outstanding 66.90M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $787.4M $787.4M
YoY Change 746.67% 746.67%
Cash & Equivalents $787.4M $787.4M
Short-Term Investments
Other Short-Term Assets $107.1M $107.1M
YoY Change 29.04% 29.04%
Inventory $754.2M $754.2M
Prepaid Expenses
Receivables $582.9M $472.1M
Other Receivables $0.00 $110.8M
Total Short-Term Assets $2.232B $2.232B
YoY Change 50.94% 50.89%
LONG-TERM ASSETS
Property, Plant & Equipment $2.312B $2.541B
YoY Change 14.36% 15.58%
Goodwill $4.701B
YoY Change 2.76%
Intangibles $3.146B
YoY Change -2.07%
Long-Term Investments
YoY Change
Other Assets $464.2M $235.4M
YoY Change 28.94% 27.93%
Total Long-Term Assets $10.62B $10.62B
YoY Change 4.47% 4.47%
TOTAL ASSETS
Total Short-Term Assets $2.232B $2.232B
Total Long-Term Assets $10.62B $10.62B
Total Assets $12.85B $12.85B
YoY Change 10.37% 10.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $483.8M $473.6M
YoY Change 31.18% 33.79%
Accrued Expenses $41.00M $381.4M
YoY Change 10.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.200M $1.200M
YoY Change 9.09% 20.0%
Total Short-Term Liabilities $944.9M $944.9M
YoY Change 17.34% 17.38%
LONG-TERM LIABILITIES
Long-Term Debt $6.812B $6.812B
YoY Change 12.79% 12.79%
Other Long-Term Liabilities $343.4M $343.4M
YoY Change 24.11% 23.97%
Total Long-Term Liabilities $7.155B $7.155B
YoY Change 13.29% 13.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $944.9M $944.9M
Total Long-Term Liabilities $7.155B $7.155B
Total Liabilities $8.753B $8.764B
YoY Change 12.28% 12.28%
SHAREHOLDERS EQUITY
Retained Earnings $1.783B
YoY Change 25.89%
Common Stock $900.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.031B
YoY Change 11.11%
Treasury Stock Shares
Shareholders Equity $4.091B $4.091B
YoY Change
Total Liabilities & Shareholders Equity $12.85B $12.85B
YoY Change 10.37% 10.36%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2024
OPERATING ACTIVITIES
Net Income $81.60M $366.7M
YoY Change 24.2% 21.71%
Depreciation, Depletion And Amortization $124.2M $476.9M
YoY Change 9.14% 17.15%
Cash From Operating Activities $235.4M $931.7M
YoY Change -12.75% 24.18%
INVESTING ACTIVITIES
Capital Expenditures $139.2M $429.5M
YoY Change 37.69% 41.75%
Acquisitions $248.1M
YoY Change -65.31%
Other Investing Activities $0.00 $1.100M
YoY Change -100.0% 266.67%
Cash From Investing Activities -$139.2M -$677.5M
YoY Change 37.28% 1.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.042B
YoY Change 565.23%
Cash From Financing Activities 348.9M $415.6M
YoY Change -226.41% -174.79%
NET CHANGE
Cash From Operating Activities 235.4M $931.7M
Cash From Investing Activities -139.2M -$677.5M
Cash From Financing Activities 348.9M $415.6M
Net Change In Cash 445.1M $673.7M
YoY Change -513.66% -242.46%
FREE CASH FLOW
Cash From Operating Activities $235.4M $931.7M
Capital Expenditures $139.2M $429.5M
Free Cash Flow $96.20M $502.2M
YoY Change -42.98% 12.27%

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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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790900000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024 us-gaap Use Of Estimates
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<div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><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 and Allocations —</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The consolidated financial statements of the Company are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which require certain elections as to accounting policy, estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the dates of the financial statements and the reported amount of net revenues and expenses during the reporting periods. Significant accounting policy elections, estimates and assumptions include, among others, allowance for trade promotions, business combinations, pension and benefit plan assumptions and valuation assumptions of goodwill and other intangible assets. Actual results could differ from those estimates.</span></div>
CY2024 us-gaap Depreciation
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CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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CY2023Q3 us-gaap Property Plant And Equipment Gross
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CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2024Q3 us-gaap Property Plant And Equipment Net
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CY2023Q3 us-gaap Property Plant And Equipment Net
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CY2022 us-gaap Amortization Of Intangible Assets
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2024Q3 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
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3212400000 usd
CY2024Q3 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized Before Accumulated Amortization
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36500000 usd
CY2023Q3 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized Before Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedBeforeAccumulatedAmortization
20400000 usd
CY2024 post Cost Of Goods Sold Storage And Warehouse Costs
CostOfGoodsSoldStorageAndWarehouseCosts
335000000.0 usd
CY2023 post Cost Of Goods Sold Storage And Warehouse Costs
CostOfGoodsSoldStorageAndWarehouseCosts
263200000 usd
CY2022 post Cost Of Goods Sold Storage And Warehouse Costs
CostOfGoodsSoldStorageAndWarehouseCosts
204000000.0 usd
CY2022 post Payment Of Merger Consideration
PaymentOfMergerConsideration
550400000 usd
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
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633000000.0 usd
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CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
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CY2022 post Net Earnings From Discontinued Operations Net Of Tax And Noncontrolling Interest
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CY2022Q3 post Series A Common Stock Included In Each Unit
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CY2023Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2022 post Net Earnings Attributable To Redeemable Nci Subsequent To Ipo
NetEarningsAttributableToRedeemableNCISubsequentToIPO
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CY2024 us-gaap Business Combination Bargain Purchase Gain Recognized Amount
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CY2024 us-gaap Business Acquisitions Pro Forma Revenue
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CY2024 us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2024 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
6.32
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BusinessAcquisitionProFormaEarningsPerShareBasic
5.73
CY2022 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
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9.15
CY2024 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
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5.82
CY2023 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
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5.31
CY2022 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
8.93
CY2024 post Proceeds From Sale Of Business
ProceedsFromSaleOfBusiness
600000 usd
CY2023 post Proceeds From Sale Of Business
ProceedsFromSaleOfBusiness
4600000 usd
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CY2022 us-gaap Income Tax Expense Benefit
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2024 us-gaap Current Federal Tax Expense Benefit
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CY2024 us-gaap Current Foreign Tax Expense Benefit
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CY2023 post Effective Income Tax Rate Reconciliation Return To Provision Amount
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CY2024 post Gross Exchanges Of Long Term Debt
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CY2024 post Payments For Share Repurchase Contracts
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