2023 Q3 Form 10-Q Financial Statement

#000091314423000103 Filed on July 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.836B $1.978B
YoY Change 42.71% 128.17%
Cost Of Revenue $861.6M $931.2M
YoY Change -56.22% 31.85%
Gross Profit $974.4M $1.047B
YoY Change -243.0% 551.37%
Gross Profit Margin 53.07% 52.93%
Selling, General & Admin $99.89M $103.9M
YoY Change 33.29% 22.37%
% of Gross Profit 10.25% 9.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $425.7M $422.5M
YoY Change 1.94% 16.97%
% of Gross Profit 43.69% 40.36%
Operating Expenses $1.387B $1.458B
YoY Change -43.62% 26.49%
Operating Profit -$412.8M -$410.6M
YoY Change -86.86% -58.59%
Interest Expense $22.95M -$139.8M
YoY Change 89.66% -1275.7%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $425.8M $380.7M
YoY Change -135.9% -228.07%
Income Tax $9.295M $5.942M
% Of Pretax Income 2.18% 1.56%
Net Earnings $202.8M $188.1M
YoY Change -124.84% -159.52%
Net Earnings / Revenue 11.05% 9.51%
Basic Earnings Per Share $3.81 $4.10
Diluted Earnings Per Share $3.80 $4.09
COMMON SHARES
Basic Shares Outstanding 51.18M shares 43.93M shares
Diluted Shares Outstanding 50.36M shares 45.99M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.196B $943.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $480.7M $508.9M
YoY Change 61.13% 82.11%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $101.1M $25.54B
YoY Change 39.39% 33510.32%
Other Assets
YoY Change
Total Long-Term Assets $40.36B $40.89B
YoY Change 13.26% 17.66%
TOTAL ASSETS
Total Short-Term Assets $480.7M $508.9M
Total Long-Term Assets $40.36B $40.89B
Total Assets $40.84B $41.40B
YoY Change 13.66% 18.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $811.6M $548.0M
YoY Change 37.58% 5.84%
LONG-TERM LIABILITIES
Long-Term Debt $1.883B $1.882B
YoY Change 60.94% 60.95%
Other Long-Term Liabilities $396.5M $254.9M
YoY Change 57.66% -17.75%
Total Long-Term Liabilities $2.279B $2.137B
YoY Change 60.36% 44.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $811.6M $548.0M
Total Long-Term Liabilities $2.279B $2.137B
Total Liabilities $27.59B $34.00B
YoY Change 2.65% 36.3%
SHAREHOLDERS EQUITY
Retained Earnings $4.965B $4.790B
YoY Change 36.43% 6.91%
Common Stock $51.17M $51.18M
YoY Change 17.1% 16.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.589B $7.403B
YoY Change
Total Liabilities & Shareholders Equity $40.84B $41.40B
YoY Change 13.66% 18.17%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $202.8M $188.1M
YoY Change -124.84% -159.52%
Depreciation, Depletion And Amortization $425.7M $422.5M
YoY Change 1.94% 16.97%
Cash From Operating Activities $772.5M $191.0M
YoY Change 28.46% 89.19%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$327.9M -$2.497B
YoY Change -60.33% 352.58%
Cash From Investing Activities -$327.9M -$2.497B
YoY Change -60.33% 352.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -197.7M 2.186B
YoY Change -1160.65% 701.0%
NET CHANGE
Cash From Operating Activities 772.5M 191.0M
Cash From Investing Activities -327.9M -2.497B
Cash From Financing Activities -197.7M 2.186B
Net Change In Cash 246.9M -120.1M
YoY Change -219.56% -32.47%
FREE CASH FLOW
Cash From Operating Activities $772.5M $191.0M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">USE OF ESTIMATES IN FINANCIAL STATEMENTS</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The major estimates reflected in the Company’s consolidated financial statements include, but are not limited to, the reserve for claims and claim expenses; reinsurance recoverable and premiums receivable, including provisions for reinsurance recoverable and premiums receivable to reflect expected credit losses; estimates of written and earned premiums; fair value, including the fair value of investments, financial instruments and derivatives; impairment charges; and the Company’s deferred tax valuation allowance.</span></div>
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