2021 Q4 Form 10-K Financial Statement

#000095017022003831 Filed on March 16, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $378.5M $1.433B $1.018B
YoY Change -62.83% 40.71%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $271.8M $1.032B $793.5M
YoY Change -65.75% 30.06%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.99M $4.806M $30.05M
YoY Change -10.2% 22.17%
% of Gross Profit
Operating Expenses $299.3M $1.246B $859.7M
YoY Change -65.18% 44.95%
Operating Profit $186.6M
YoY Change 17.72%
Interest Expense -$20.50M $79.35M -$46.80M
YoY Change -56.2% 67.97%
% of Operating Profit 42.52%
Other Income/Expense, Net $600.0K -$44.95M -$32.27M
YoY Change -101.86% 39.28%
Pretax Income $35.35M $61.56M $79.47M
YoY Change -55.52% -22.53%
Income Tax $5.734M $4.932M $8.952M
% Of Pretax Income 16.22% 8.01% 11.27%
Net Earnings $10.05M $65.87M $68.10M
YoY Change -85.24% -3.28%
Net Earnings / Revenue 2.66% 4.6% 6.69%
Basic Earnings Per Share
Diluted Earnings Per Share $93.94K $623.0K $1.419M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $387.0M $387.0M
YoY Change 23.77%
Cash & Equivalents $1.140B $387.0M $895.7M
Short-Term Investments
Other Short-Term Assets $15.88M $21.16M $16.01M
YoY Change -0.77% -98.94%
Inventory
Prepaid Expenses $7.726M $8.842M
Receivables $210.3M $210.3M
Other Receivables $1.804M $2.393B $1.131M
Total Short-Term Assets $3.011B $3.011B $2.493B
YoY Change 20.76% 20.76%
LONG-TERM ASSETS
Property, Plant & Equipment $15.29M $100.2M $17.42M
YoY Change -12.24% -10.06%
Goodwill $1.309B $1.224B
YoY Change 6.95% 131.63%
Intangibles $573.9M $604.8M
YoY Change -5.1%
Long-Term Investments $45.42M $45.42M $47.22M
YoY Change -3.81% -3.81% 109.64%
Other Assets $10.79M $418.9M $12.29M
YoY Change -12.24% 763.9%
Total Long-Term Assets $2.448B $2.448B $2.036B
YoY Change 20.22% 20.22%
TOTAL ASSETS
Total Short-Term Assets $3.011B $3.011B $2.493B
Total Long-Term Assets $2.448B $2.448B $2.036B
Total Assets $5.459B $5.459B $4.529B
YoY Change 20.52% 20.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $99.40M $99.40M
YoY Change -13.99%
Accrued Expenses $405.1M $405.1M
YoY Change 9.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $23.47M $23.47M
YoY Change 22.5%
Total Short-Term Liabilities $2.918B $2.918B $2.482B
YoY Change 17.56% 17.56%
LONG-TERM LIABILITIES
Long-Term Debt $1.567B $1.567B $1.566B
YoY Change 0.03% 0.03%
Other Long-Term Liabilities $27.68M $378.5M $16.71M
YoY Change 65.63% 123.23%
Total Long-Term Liabilities $1.946B $1.945B $1.736B
YoY Change 12.06% 12.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.918B $2.918B $2.482B
Total Long-Term Liabilities $1.946B $1.945B $1.736B
Total Liabilities $4.864B $5.115B $4.219B
YoY Change 15.3% 21.21%
SHAREHOLDERS EQUITY
Retained Earnings -$7.064M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $343.8M $343.8M
YoY Change
Total Liabilities & Shareholders Equity $5.459B $5.459B $4.529B
YoY Change 20.52% 20.52%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $10.05M $65.87M $68.10M
YoY Change -85.24% -3.28%
Depreciation, Depletion And Amortization $26.99M $4.806M $30.05M
YoY Change -10.2% 22.17%
Cash From Operating Activities $119.1M $273.5M $133.1M
YoY Change -10.52% 102.0%
INVESTING ACTIVITIES
Capital Expenditures -$3.352M -$352.9M -$1.902M
YoY Change 76.24% 1890.18%
Acquisitions
YoY Change
Other Investing Activities -$109.1M -$105.0M $87.49M
YoY Change -224.75% -86.01%
Cash From Investing Activities -$112.5M -$457.9M $85.58M
YoY Change -231.43% -40.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 135.6M 429.3M 111.6M
YoY Change 21.49% -61.85%
NET CHANGE
Cash From Operating Activities 119.1M 273.5M 133.1M
Cash From Investing Activities -112.5M -457.9M 85.58M
Cash From Financing Activities 135.6M 429.3M 111.6M
Net Change In Cash 142.2M 244.0M 330.3M
YoY Change -56.94% -50.57%
FREE CASH FLOW
Cash From Operating Activities $119.1M $273.5M $133.1M
Capital Expenditures -$3.352M -$352.9M -$1.902M
Free Cash Flow $122.5M $626.4M $135.0M
YoY Change -9.3% 309.09%

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CY2020Q4 ryan Total Stockholders Equity Members Equity Including Non Controlling Interest
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63057000
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759000
CY2020 ryan Loss Gain From Non Controlling Equity Interest
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CY2019 ryan Loss Gain From Non Controlling Equity Interest
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107877000
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63567000
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48301000
CY2021 us-gaap Depreciation
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4806000
CY2020 us-gaap Depreciation
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3934000
CY2019 us-gaap Depreciation
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4797000
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
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0
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2021 ryan Prepaid And Deferred Compensation Expense
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46470000
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PrepaidAndDeferredCompensationExpense
21619000
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10838000
CY2021 us-gaap Share Based Compensation
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11372000
CY2020 ryan Amortization Of Deferred Debt Issuance Costs
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CY2020 us-gaap Deferred Income Tax Expense Benefit
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2020 us-gaap Gains Losses On Extinguishment Of Debt
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1708000
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
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0
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29657000
CY2020 us-gaap Increase Decrease In Receivables
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31174000
CY2019 us-gaap Increase Decrease In Receivables
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3727000
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760000
CY2020 us-gaap Increase Decrease In Interest Payable Net
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CY2019 us-gaap Increase Decrease In Interest Payable Net
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250000
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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145000
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CY2020 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
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CY2019 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
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CY2021 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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CY2020 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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25859000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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108883000
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CY2021 us-gaap Payments To Acquire Productive Assets
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343158000
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5236000
CY2019 us-gaap Payments To Acquire Productive Assets
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100000
CY2021 ryan Prepaid Incentives Issued Net Of Repayments
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CY2020 ryan Prepaid Incentives Issued Net Of Repayments
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CY2021 us-gaap Payments To Acquire Investments
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23500000
CY2019 us-gaap Payments To Acquire Investments
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23500000
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CY2021 us-gaap Payments For Capital Improvements
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12498000
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 ryan Contributions Of Members Equity
ContributionsOfMembersEquity
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25000000
CY2021 ryan Contributions Of Mezzanine Equity
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0
CY2020 ryan Contributions Of Mezzanine Equity
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CY2019 ryan Contributions Of Mezzanine Equity
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0
CY2021 ryan Allocation Of Contribution To Redeemable Class B Embedded Derivative
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0
CY2020 ryan Allocation Of Contribution To Redeemable Class B Embedded Derivative
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814000
CY2019 ryan Allocation Of Contribution To Redeemable Class B Embedded Derivative
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0
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CY2020 ryan Purchase Of Remaining Interest In Ryan Re
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0
CY2019 ryan Purchase Of Remaining Interest In Ryan Re
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CY2020 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2019 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2021 us-gaap Payments For Repurchase Of Equity
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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402162000
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752699000
CY2021 ryan Deferred Tax Assets Investment In Rgs Llc
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61143000
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0
CY2019 us-gaap Payments For Repurchase Of Equity
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16500000
CY2020 us-gaap Repayments Of Other Long Term Debt
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144750000
CY2019 us-gaap Repayments Of Other Long Term Debt
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7500000
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0
CY2020 us-gaap Proceeds From Issuance Of Other Long Term Debt
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1650000000
CY2019 us-gaap Proceeds From Issuance Of Other Long Term Debt
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0
CY2021 us-gaap Repayments Of Notes Payable
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CY2020 us-gaap Repayments Of Notes Payable
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0
CY2019 us-gaap Repayments Of Notes Payable
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0
CY2021 us-gaap Repayments Of Subordinated Debt
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0
CY2020 us-gaap Repayments Of Subordinated Debt
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25000000
CY2019 us-gaap Repayments Of Subordinated Debt
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25000000
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0
CY2020 us-gaap Proceeds From Long Term Lines Of Credit
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305517000
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420500000
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CY2020 us-gaap Repayments Of Long Term Lines Of Credit
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CY2021 ryan Repayment Of Acquired Debt
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0
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CY2019 ryan Repayment Of Acquired Debt
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CY2021 ryan Payments Of Finance Lease Costs Paid
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129000
CY2020 ryan Payments Of Finance Lease Costs Paid
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-235000
CY2019 ryan Payments Of Finance Lease Costs Paid
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CY2021 us-gaap Payments Of Debt Issuance Costs
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2431000
CY2020 us-gaap Payments Of Debt Issuance Costs
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78799000
CY2019 us-gaap Payments Of Debt Issuance Costs
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293000
CY2021 ryan Net Change In Fiduciary Liabilities
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147418000
CY2020 ryan Net Change In Fiduciary Liabilities
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136062000
CY2019 ryan Net Change In Fiduciary Liabilities
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34199000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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429284000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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1125304000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2020 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2019 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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265000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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402162000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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338113000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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1139661000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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895704000
CY2019 us-gaap Profit Loss
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63057000
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CY2019 ryan Accumulation Of Preferred Dividends Net Of Tax Distributions
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583053000
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350146000
CY2021Q4 ryan Cash Held In Fiduciary Capacity
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1139661000
CY2020Q4 ryan Cash Held In Fiduciary Capacity
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CY2019Q4 ryan Cash Held In Fiduciary Capacity
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7848000
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1084000
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63402000
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52220000
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10160000
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71090000
CY2020Q4 us-gaap Limited Liability Company Llc Members Equity Including Portion Attributable To Noncontrolling Interest
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71090000
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444000
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8457000
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984000
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594777000
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1.000
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61100000
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of the consolidated financial statements and notes thereto requires management to make estimates, judgements, and assumptions that affect the amounts reported in the consolidated financial statements and in the notes thereto. Such estimates and assumptions could change in the future as circumstances change or more information becomes available, which could affect the amounts reported and disclosed herein.</span>
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CY2021Q4 ryan Contract With Customer Asset
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CY2020Q4 ryan Contract With Customer Asset
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0
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2891000
CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2019 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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-1595000
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748000
CY2020 ryan Interest Expense Related To Contingent Consideration Liabilities
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1197000
CY2019 ryan Interest Expense Related To Contingent Consideration Liabilities
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1009000
CY2021 ryan Amount Of Change In Contingent Consideration And Interest Expense Related To Contingent Consideration Liabilities
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3639000
CY2020 ryan Amount Of Change In Contingent Consideration And Interest Expense Related To Contingent Consideration Liabilities
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-104000
CY2019 ryan Amount Of Change In Contingent Consideration And Interest Expense Related To Contingent Consideration Liabilities
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-586000
CY2021Q4 ryan Business Combination Contingent Consideration Obligation Related To Acquisitions Maximum
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129200000
CY2020Q4 ryan Business Combination Contingent Consideration Obligation Related To Acquisitions Maximum
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102400000
CY2021 ryan Restructuring Plan Expected Annual Savings
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25000000.0
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14400000
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25200000
CY2021 us-gaap Restructuring Costs
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14380000
CY2020 us-gaap Restructuring Costs
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10840000
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10840000
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3791000
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7049000
CY2021 us-gaap Restructuring Charges
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14380000
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CY2020Q4 us-gaap Receivables Net Current
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CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2020 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2021 us-gaap Provision For Doubtful Accounts
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2228000
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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OtherCurrentPrepaidExpenses
13434000
CY2020Q4 ryan Other Current Prepaid Expenses
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CY2021Q4 us-gaap Due From Related Parties Current
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644000
CY2020Q4 us-gaap Due From Related Parties Current
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508000
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CY2020Q4 ryan Deferred Offering Costs Current
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1804000
CY2020Q4 us-gaap Other Receivables Net Current
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1131000
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ReceivablesOtherCurrentAssets
15882000
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CY2020Q4 us-gaap Goodwill
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CY2021 us-gaap Goodwill Acquired During Period
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CY2021Q4 us-gaap Goodwill
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279955000
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CY2020 ryan Change In Equity Method Investment In Related Party To Other Comprehensive Income Loss
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CY2020Q4 us-gaap Equity Method Investments
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47216000
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CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
19510000
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144000
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
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FinanceLeaseInterestExpense
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ShortTermLeaseCostOnOperating
536000
CY2020 ryan Short Term Lease Cost On Operating
ShortTermLeaseCostOnOperating
1906000
CY2021 ryan Finance Lease Cost On Amortization Of Lease Assets
FinanceLeaseCostOnAmortizationOfLeaseAssets
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CY2020 ryan Finance Lease Cost On Amortization Of Lease Assets
FinanceLeaseCostOnAmortizationOfLeaseAssets
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FinanceLeaseCostOnInterestOnLeaseLiabilities
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CY2020 ryan Finance Lease Cost On Interest On Lease Liabilities
FinanceLeaseCostOnInterestOnLeaseLiabilities
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CY2021 us-gaap Sublease Income
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382000
CY2020 us-gaap Sublease Income
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450000
CY2021 us-gaap Lease Cost
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24380000
CY2020 us-gaap Lease Cost
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21082000
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OperatingLeasePayments
27550000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
18586000
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FinanceLeasePrincipalPayments
156000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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P6Y2M12D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P2Y8M12D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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147000
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CY2020Q4 us-gaap Operating Lease Liability Noncurrent
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CY2021Q4 us-gaap Finance Lease Liability Noncurrent
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CY2020Q4 us-gaap Finance Lease Right Of Use Asset
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CY2020Q4 us-gaap Operating Lease Liability Current
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CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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25241000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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12206000
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CY2021Q4 us-gaap Operating Lease Liability
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CY2021Q4 us-gaap Finance Lease Liability
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CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2020Q4 us-gaap Long Term Debt Noncurrent
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CY2020 ryan Equity Based Compensation Recognized Expense
EquityBasedCompensationRecognizedExpense
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CY2020 us-gaap Line Of Credit Facility Increase Decrease For Period Net
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1
CY2021 ryan Percentage Of Repurchase Redeemable Preferred Units
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Dividends
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CY2021 ryan Fair Value Of The Redeemable Preferred Unit
FairValueOfTheRedeemablePreferredUnit
0
CY2020 ryan Fair Value Of The Redeemable Preferred Unit
FairValueOfTheRedeemablePreferredUnit
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
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The Staking Options vest over 10 years from the grant date, with 10% vesting in each of years 3 through 9 and 30% vesting in year 10
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CY2021 ryan Equity Based Compensation Unrecognized Expense
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CY2020 ryan Rsg Recognized Of Increase Decrease In Cash Flow
RsgRecognizedOfIncreaseDecreaseInCashFlow
31900000
CY2019 ryan Rsg Recognized Of Increase Decrease In Cash Flow
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CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2021Q4 ryan Total Sales Bonus
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CY2021Q4 ryan Longterm Incentive Plans
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303700000
CY2021Q4 ryan Longterm Incentive Plans Consideration Transferred
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257600000
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114700000
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CY2021 ryan Cash Payment For All Risks Long Term Incentive Plans
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0
CY2020Q4 us-gaap Liabilities Fair Value Disclosure
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30400000
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0
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CY2021 us-gaap Aircraft Rental
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CY2021Q4 ryan Non Recurring Guarantee
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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61564000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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79465000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Current Federal Tax Expense Benefit
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CY2020 us-gaap Current Federal Tax Expense Benefit
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CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
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CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
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CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
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CY2021 us-gaap Current Foreign Tax Expense Benefit
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CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
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CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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