2022 Q1 Form 10-Q Financial Statement

#000180422022000015 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $2.965B $2.529B
YoY Change 17.26% 38.32%
Cost Of Revenue $404.9M $308.0M
YoY Change 31.46% 41.74%
Gross Profit $2.560B $2.221B
YoY Change 15.29% 37.85%
Gross Profit Margin 86.34% 87.82%
Selling, General & Admin $450.0M $405.6M
YoY Change 10.95% 10.43%
% of Gross Profit 17.58% 18.26%
Research & Development $843.8M $742.9M
YoY Change 13.58% 27.23%
% of Gross Profit 32.96% 33.45%
Depreciation & Amortization $74.30M $67.40M
YoY Change 10.24% 20.14%
% of Gross Profit 2.9% 3.04%
Operating Expenses $1.294B $1.149B
YoY Change 12.65% 20.74%
Operating Profit $1.259B $1.113B
YoY Change 13.1% 58.93%
Interest Expense $13.60M $14.60M
YoY Change -6.85% 139.34%
% of Operating Profit 1.08% 1.31%
Other Income/Expense, Net -$197.4M $140.3M
YoY Change -240.7% -545.4%
Pretax Income $1.061B $1.253B
YoY Change -15.32% 87.41%
Income Tax $87.60M $137.8M
% Of Pretax Income 8.26% 11.0%
Net Earnings $973.5M $1.115B
YoY Change -12.71% 78.55%
Net Earnings / Revenue 32.83% 44.1%
Basic Earnings Per Share $9.12 $10.58
Diluted Earnings Per Share $8.61 $10.09
COMMON SHARES
Basic Shares Outstanding 106.8M shares 105.4M shares
Diluted Shares Outstanding 113.1M shares 110.5M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.051B $3.504B
YoY Change 101.22% -12.47%
Cash & Equivalents $3.346B $1.438B
Short-Term Investments $3.705B $2.066B
Other Short-Term Assets $424.9M $713.0M
YoY Change -40.41% 0.71%
Inventory $1.992B $2.165B
Prepaid Expenses
Receivables $4.839B $4.173B
Other Receivables $0.00 $0.00
Total Short-Term Assets $14.31B $10.06B
YoY Change 42.28% 16.32%
LONG-TERM ASSETS
Property, Plant & Equipment $3.556B $3.263B
YoY Change 9.01% 10.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $7.131B $3.584B
YoY Change 98.96% 8.87%
Other Assets $262.0M $145.7M
YoY Change 79.82% -9.62%
Total Long-Term Assets $12.04B $7.717B
YoY Change 56.05% 8.49%
TOTAL ASSETS
Total Short-Term Assets $14.31B $10.06B
Total Long-Term Assets $12.04B $7.717B
Total Assets $26.35B $17.77B
YoY Change 48.26% 12.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $470.3M $543.0M
YoY Change -13.39% 56.03%
Accrued Expenses $2.046B $1.492B
YoY Change 37.13% 30.53%
Deferred Revenue $491.3M $464.9M
YoY Change 5.68%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $718.0M
YoY Change -100.0%
Total Short-Term Liabilities $3.008B $3.218B
YoY Change -6.53% 56.57%
LONG-TERM LIABILITIES
Long-Term Debt $1.980B $1.979B
YoY Change 0.08% 176.77%
Other Long-Term Liabilities $692.5M $571.5M
YoY Change 21.17% 77.76%
Total Long-Term Liabilities $2.673B $2.550B
YoY Change 4.8% 693.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.008B $3.218B
Total Long-Term Liabilities $2.673B $2.550B
Total Liabilities $6.434B $5.795B
YoY Change 11.02% 59.89%
SHAREHOLDERS EQUITY
Retained Earnings $19.94B $12.01B
YoY Change 66.07% 50.02%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.611B $6.935B
YoY Change 24.16% 545.87%
Treasury Stock Shares 19.94M shares 17.10M shares
Shareholders Equity $19.91B $11.98B
YoY Change
Total Liabilities & Shareholders Equity $26.35B $17.77B
YoY Change 48.26% 12.79%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $973.5M $1.115B
YoY Change -12.71% 78.55%
Depreciation, Depletion And Amortization $74.30M $67.40M
YoY Change 10.24% 20.14%
Cash From Operating Activities $2.102B $668.5M
YoY Change 214.39% -4.23%
INVESTING ACTIVITIES
Capital Expenditures -$141.8M -$115.3M
YoY Change 22.98% -32.22%
Acquisitions
YoY Change
Other Investing Activities -$1.564B -$943.7M
YoY Change 65.68% 245.55%
Cash From Investing Activities -$1.705B -$1.059B
YoY Change 61.03% 138.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$163.5M $211.9M
YoY Change -177.16% -143.18%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $64.70M -$366.4M
YoY Change -117.66% -209.18%
NET CHANGE
Cash From Operating Activities $2.102B $668.5M
Cash From Investing Activities -$1.705B -$1.059B
Cash From Financing Activities $64.70M -$366.4M
Net Change In Cash $461.1M -$756.9M
YoY Change -160.92% -228.2%
FREE CASH FLOW
Cash From Operating Activities $2.102B $668.5M
Capital Expenditures -$141.8M -$115.3M
Free Cash Flow $2.244B $783.8M
YoY Change 186.23% -9.71%

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CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
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521600000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
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95000000.0 USD
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98800000 USD
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
154500000 USD
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
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358100000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2022Q1 us-gaap Available For Sale Securities Debt Securities
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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214100000 USD
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CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
216200000 USD
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6516300000 USD
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
42300000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
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6516300000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
42300000 USD
CY2022Q1 us-gaap Marketable Securities Realized Gain Loss
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0 USD
CY2021Q1 regn Marketable Securities Realized Gain
MarketableSecuritiesRealizedGain
0 USD
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CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
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CY2021Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
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CY2022Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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40000000 USD
CY2022Q1 us-gaap Long Term Debt Fair Value
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1686000000 USD
CY2021Q4 us-gaap Long Term Debt Fair Value
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1887000000 USD
CY2022Q1 us-gaap Inventory Raw Materials Net Of Reserves
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773500000 USD
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2022Q1 us-gaap Inventory Work In Process Net Of Reserves
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644900000 USD
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
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CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
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47300000 USD
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
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73700000 USD
CY2022Q1 us-gaap Other Inventory Net Of Reserves
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525800000 USD
CY2021Q4 us-gaap Other Inventory Net Of Reserves
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448500000 USD
CY2022Q1 us-gaap Inventory Net
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1991500000 USD
CY2021Q4 us-gaap Inventory Net
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1951300000 USD
CY2022Q1 us-gaap Inventory Valuation Reserves
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566500000 USD
CY2021Q4 us-gaap Inventory Valuation Reserves
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510000000 USD
CY2022Q1 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P5Y
CY2022Q1 us-gaap Lessee Finance Lease Option To Extend
LesseeFinanceLeaseOptionToExtend
five-year
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.083
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.110
CY2022Q1 us-gaap Treasury Stock Shares Acquired
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566973 shares
CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
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352000000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3345700000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1437900000 USD
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
13500000 USD
CY2021Q1 us-gaap Restricted Cash
RestrictedCash
12500000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3359200000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1450400000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
80700000 USD
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
74800000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
75600000 USD
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
83600000 USD

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