2024 Q4 Form 10-K Financial Statement

#000102447824000107 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2024
Revenue $2.036B $8.264B
YoY Change -20.58% -8.76%
Cost Of Revenue $1.265B $5.071B
YoY Change -16.09% -5.06%
Gross Profit $770.6M $3.193B
YoY Change -26.99% -14.09%
Gross Profit Margin 37.86% 38.64%
Selling, General & Admin $486.9M $2.003B
YoY Change -11.73% -1.04%
% of Gross Profit 63.18% 62.71%
Research & Development $477.3M
YoY Change -9.86%
% of Gross Profit 14.95%
Depreciation & Amortization $196.6M $317.4M
YoY Change 187.43% 26.76%
% of Gross Profit 25.51% 9.94%
Operating Expenses $458.6M $2.480B
YoY Change -15.88% -2.87%
Operating Profit $312.0M $713.5M
YoY Change -38.86% -38.69%
Interest Expense -$37.90M -$138.9M
YoY Change 7.06% -202.66%
% of Operating Profit -12.15% -19.47%
Other Income/Expense, Net
YoY Change
Pretax Income $274.1M $1.099B
YoY Change -13.64% -31.67%
Income Tax $35.90M $151.8M
% Of Pretax Income 13.1% 13.81%
Net Earnings $238.0M $952.5M
YoY Change -21.09% -31.35%
Net Earnings / Revenue 11.69% 11.53%
Basic Earnings Per Share $8.32
Diluted Earnings Per Share $2.09 $8.28
COMMON SHARES
Basic Shares Outstanding 112.9M shares 114.0M shares
Diluted Shares Outstanding 114.5M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $471.0M $471.3M
YoY Change -56.08% -56.05%
Cash & Equivalents $471.0M $471.0M
Short-Term Investments $300.0K
Other Short-Term Assets $315.1M $314.8M
YoY Change 18.15% 18.3%
Inventory $1.293B $1.293B
Prepaid Expenses
Receivables $1.802B $1.802B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.566B $3.881B
YoY Change -27.38% -20.97%
LONG-TERM ASSETS
Property, Plant & Equipment $1.199B $1.199B
YoY Change 75.29% 16.03%
Goodwill $3.993B
YoY Change 13.15%
Intangibles $1.066B
YoY Change 25.09%
Long-Term Investments $168.7M $168.7M
YoY Change 7.38% 7.38%
Other Assets $1.238B $923.3M
YoY Change 242.48% 12.47%
Total Long-Term Assets $7.666B $7.351B
YoY Change 19.91% 14.98%
TOTAL ASSETS
Total Short-Term Assets $3.566B $3.881B
Total Long-Term Assets $7.666B $7.351B
Total Assets $11.23B $11.23B
YoY Change -0.64% -0.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $860.4M $860.4M
YoY Change -25.2% -25.2%
Accrued Expenses $444.0M
YoY Change -34.43%
Deferred Revenue $584.1M
YoY Change -1.42%
Short-Term Debt $1.078B $770.8M
YoY Change 1038.54% 713.94%
Long-Term Debt Due $307.4M $307.4M
YoY Change 3474.42% 3474.42%
Total Short-Term Liabilities $1.939B $3.604B
YoY Change -42.39% 7.09%
LONG-TERM LIABILITIES
Long-Term Debt $2.561B $2.561B
YoY Change -10.53% -10.53%
Other Long-Term Liabilities $3.057B $1.392B
YoY Change 462.47% 4.45%
Total Long-Term Liabilities $5.618B $3.953B
YoY Change 933.73% -5.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.939B $3.604B
Total Long-Term Liabilities $5.618B $3.953B
Total Liabilities $7.734B $7.734B
YoY Change 97.86% -0.11%
SHAREHOLDERS EQUITY
Retained Earnings $9.635B
YoY Change 4.1%
Common Stock $2.370B
YoY Change 3.77%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.734B
YoY Change 7.61%
Treasury Stock Shares
Shareholders Equity $3.498B $3.498B
YoY Change
Total Liabilities & Shareholders Equity $11.23B $11.23B
YoY Change -0.64% -0.64%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2024
OPERATING ACTIVITIES
Net Income $238.0M $952.5M
YoY Change -21.09% -31.35%
Depreciation, Depletion And Amortization $196.6M $317.4M
YoY Change 187.43% 26.76%
Cash From Operating Activities $432.3M $863.8M
YoY Change -48.51% -37.16%
INVESTING ACTIVITIES
Capital Expenditures $64.90M $224.7M
YoY Change 2.69% 40.0%
Acquisitions $749.2M
YoY Change 344.89%
Other Investing Activities $2.400M -$1.200M
YoY Change -99.71% -1300.0%
Cash From Investing Activities -$62.50M -$982.5M
YoY Change -108.16% -215.01%
FINANCING ACTIVITIES
Cash Dividend Paid $571.0M
YoY Change 5.27%
Common Stock Issuance & Retirement, Net -$111.2M $594.9M
YoY Change 90.98%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -315.8M -$502.8M
YoY Change -67.32% -69.99%
NET CHANGE
Cash From Operating Activities 432.3M $863.8M
Cash From Investing Activities -62.50M -$982.5M
Cash From Financing Activities -315.8M -$502.8M
Net Change In Cash 54.00M -$609.4M
YoY Change -91.55% -206.45%
FREE CASH FLOW
Cash From Operating Activities $432.3M $863.8M
Capital Expenditures $64.90M $224.7M
Free Cash Flow $367.4M $639.1M
YoY Change -52.67% -47.36%

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<div style="margin-top:10pt;text-align:justify;text-indent:6.75pt"><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</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and revenues and expenses during the periods reported. Actual results could differ from those estimates. We use estimates in accounting for, among other items, customer returns, rebates, and incentives; allowance for doubtful accounts; excess and obsolete inventory; share-based compensation; acquisitions, including consolidation and intangible assets; goodwill impairment; product warranty obligations; capitalization of internal-use software; retirement benefits; litigation, claims, and contingencies, including environmental and asbestos matters, conditional asset retirement obligations, and contractual indemnifications; leases; and income taxes. We account for changes to estimates and assumptions prospectively when warranted by factually-based experience.</span></div>
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CY2023Q3 us-gaap Goodwill
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CY2022Q3 us-gaap Product Warranty Accrual Classified Current
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CY2024 us-gaap Product Warranty Accrual Warranties Issued
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CY2024 us-gaap Product Warranty Accrual Payments
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CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
23700000 usd
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
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18300000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
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CY2023Q3 us-gaap Available For Sale Securities Debt Securities
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CY2023Q3 rok Other Equity Securities
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CY2024Q3 us-gaap Other Investments
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CY2023Q3 us-gaap Other Investments
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CY2024Q3 us-gaap Investments Fair Value Disclosure
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CY2023Q3 us-gaap Investments Fair Value Disclosure
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CY2024Q3 us-gaap Short Term Investments
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CY2023Q3 us-gaap Short Term Investments
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CY2024Q3 us-gaap Long Term Investments
LongTermInvestments
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CY2023Q3 us-gaap Long Term Investments
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CY2024Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Cumulative Amount
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22500000 usd
CY2023Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Cumulative Amount
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CY2023Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Downward Price Adjustment Cumulative Amount
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CY2023 rok Equity Securities Without Readily Determinable Fair Value Gain Loss
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CY2024 us-gaap Income Loss From Equity Method Investments
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CY2024 us-gaap Gain Loss On Investments
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P2Y
CY2024Q3 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
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CY2024Q3 us-gaap Common Stock Shares Authorized
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CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2024Q3 us-gaap Preferred Stock Shares Authorized
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CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2021Q3 us-gaap Common Stock Shares Outstanding
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CY2024 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2200000 shares
CY2023 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1200000 shares
CY2022 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1300000 shares
CY2024 us-gaap Stock Issued During Period Shares Share Based Compensation
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CY2023 us-gaap Stock Issued During Period Shares Share Based Compensation
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CY2022 us-gaap Stock Issued During Period Shares Share Based Compensation
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CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
113100000 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
114800000 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2024 rok Stock Repurchased During Period Value Outstanding
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CY2023 rok Stock Repurchased During Period Value Outstanding
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CY2024 us-gaap Allocated Share Based Compensation Expense
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CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Allocated Share Based Compensation Expense
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CY2024 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
101100000 usd
CY2024 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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278.74
CY2024 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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169.74
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
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CY2024 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
214.03
CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P5Y3M18D
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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105800000 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2024 us-gaap Defined Contribution Plan Cost Recognized
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CY2022 us-gaap Defined Contribution Plan Cost Recognized
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CY2024Q3 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
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CY2023Q3 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
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CY2024Q3 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
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2303200000 usd
CY2023Q3 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
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2082700000 usd
CY2024Q3 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets
DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets
1821100000 usd
CY2023Q3 us-gaap Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets
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1638900000 usd
CY2024Q3 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
2136200000 usd
CY2023Q3 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
1926200000 usd
CY2024Q3 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
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1808500000 usd
CY2023Q3 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets
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CY2024Q3 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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