2023 Q1 Form 10-K Financial Statement

#000153470123000053 Filed on February 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $34.40B $40.28B $170.0B
YoY Change -4.93% 23.54% 52.49%
Cost Of Revenue $29.34B $35.15B $149.9B
YoY Change -12.4% 19.99% 46.85%
Gross Profit $5.055B $5.133B $20.06B
YoY Change 88.34% 54.89% 113.97%
Gross Profit Margin 14.7% 12.74% 11.8%
Selling, General & Admin $605.0M $760.0M $2.168B
YoY Change 39.72% 39.19% 24.31%
% of Gross Profit 11.97% 14.81% 10.81%
Research & Development $42.00M
YoY Change -10.64%
% of Gross Profit 0.21%
Depreciation & Amortization $476.0M $502.0M $1.629B
YoY Change 40.83% 223.87% 1.5%
% of Gross Profit 9.42% 9.78% 8.12%
Operating Expenses $605.0M $2.996B $2.210B
YoY Change 39.72% 19.74% 23.39%
Operating Profit $4.450B $2.137B $17.85B
YoY Change 97.69% 163.18% 135.37%
Interest Expense $394.0M -$440.0M $2.007B
YoY Change -44.51% -154.93% -25.61%
% of Operating Profit 8.85% -20.59% 11.24%
Other Income/Expense, Net $48.00M $903.0M $2.737B
YoY Change -133.57% 9933.33% 502.86%
Pretax Income $2.651B $2.547B $12.63B
YoY Change 220.17% 56.55% 627.0%
Income Tax $574.0M $535.0M $3.248B
% Of Pretax Income 21.65% 21.01% 25.72%
Net Earnings $1.961B $1.882B $11.02B
YoY Change 236.94% 47.84% 737.05%
Net Earnings / Revenue 5.7% 4.67% 6.49%
Basic Earnings Per Share $4.21 $23.36
Diluted Earnings Per Share $4.20 $3.97 $23.27
COMMON SHARES
Basic Shares Outstanding 463.9M shares 471.5M shares
Diluted Shares Outstanding 467.0M shares 473.7M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.965B $6.133B $6.133B
YoY Change 108.85% 94.88% 94.88%
Cash & Equivalents $6.965B $6.133B $6.133B
Short-Term Investments
Other Short-Term Assets $934.0M $1.528B $1.528B
YoY Change -39.11% 122.74% 122.74%
Inventory $5.445B $3.276B $3.276B
Prepaid Expenses
Receivables $9.326B $10.99B $10.99B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.67B $21.92B $21.92B
YoY Change 14.18% 49.16% 49.16%
LONG-TERM ASSETS
Property, Plant & Equipment $35.11B $35.16B $36.16B
YoY Change 57.22% 49.73% 53.96%
Goodwill $1.486B $1.486B
YoY Change 0.13% 0.13%
Intangibles $793.0M $831.0M
YoY Change -3.17% 2.21%
Long-Term Investments $15.29B $14.41B $14.62B
YoY Change 5.7% 12.33% 8.21%
Other Assets $1.913B $2.090B $1.095B
YoY Change 13.67% 23.38% 70.03%
Total Long-Term Assets $54.59B $54.52B $54.52B
YoY Change 33.86% 33.31% 33.31%
TOTAL ASSETS
Total Short-Term Assets $22.67B $21.92B $21.92B
Total Long-Term Assets $54.59B $54.52B $54.52B
Total Assets $77.26B $76.44B $76.44B
YoY Change 27.42% 37.5% 37.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.923B $10.75B $10.75B
YoY Change -17.63% 40.88% 40.88%
Accrued Expenses $3.311B $4.037B $4.037B
YoY Change 12.43% 41.6% 41.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $825.0M $529.0M $529.0M
YoY Change -44.03% -64.47% -64.47%
Total Short-Term Liabilities $14.71B $15.89B $15.89B
YoY Change -16.46% 24.12% 24.12%
LONG-TERM LIABILITIES
Long-Term Debt $17.66B $16.66B $16.66B
YoY Change 36.27% 28.57% 28.57%
Other Long-Term Liabilities $3.168B $3.115B $3.115B
YoY Change 17.77% 14.44% 14.44%
Total Long-Term Liabilities $20.83B $19.78B $19.78B
YoY Change 33.09% 26.11% 26.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.71B $15.89B $15.89B
Total Long-Term Liabilities $20.83B $19.78B $19.78B
Total Liabilities $42.35B $42.34B $46.95B
YoY Change 9.94% 24.68% 28.88%
SHAREHOLDERS EQUITY
Retained Earnings $26.90B $25.43B
YoY Change 64.13% 56.83%
Common Stock $19.80B $19.80B
YoY Change 0.65% -3.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.28B
YoY Change -10.75%
Treasury Stock Shares
Shareholders Equity $30.25B $29.49B $29.49B
YoY Change
Total Liabilities & Shareholders Equity $77.26B $76.44B $76.44B
YoY Change 27.42% 37.5% 37.5%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $1.961B $1.882B $11.02B
YoY Change 236.94% 47.84% 737.05%
Depreciation, Depletion And Amortization $476.0M $502.0M $1.629B
YoY Change 40.83% 223.87% 1.5%
Cash From Operating Activities $1.199B $4.750B $10.81B
YoY Change 5.55% 163.89% 79.71%
INVESTING ACTIVITIES
Capital Expenditures $378.0M $713.0M $2.194B
YoY Change -202.16% -219.43% -217.96%
Acquisitions
YoY Change
Other Investing Activities $24.00M $481.0M $10.00M
YoY Change -67.57% 1102.5% -600.0%
Cash From Investing Activities -$265.0M -$232.0M -$1.488B
YoY Change -38.08% -58.35% -20.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.397B
YoY Change -5473.08%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$117.0M -2.242B -$6.388B
YoY Change -77.15% 129.24% 84.09%
NET CHANGE
Cash From Operating Activities $1.199B 4.750B $10.81B
Cash From Investing Activities -$265.0M -232.0M -$1.488B
Cash From Financing Activities -$117.0M -2.242B -$6.388B
Net Change In Cash $832.0M 2.276B $2.986B
YoY Change 342.55% 758.87% 371.72%
FREE CASH FLOW
Cash From Operating Activities $1.199B $4.750B $10.81B
Capital Expenditures $378.0M $713.0M $2.194B
Free Cash Flow $821.0M $4.037B $8.619B
YoY Change -45.48% 68.42% 9.42%

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CY2022 psx Treasury Stock Shares Acquisition Of Noncontrolling Interest
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10.5pt;font-weight:700;line-height:120%">Recasted Financial Information </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10.5pt;font-weight:400;line-height:120%">Certain prior period financial information has been recasted to reflect the current year’s presentation.</span></div>
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