2022 Q2 Form 10-Q Financial Statement

#000035089422000021 Filed on April 25, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q1
Revenue $481.7M $581.4M $455.7M
YoY Change 1.27% 27.6% 9.87%
Cost Of Revenue $77.56M $78.30M $73.20M
YoY Change -5.15% 6.97% 5.17%
Gross Profit $139.7M $238.8M $154.4M
YoY Change -11.8% 54.73% 20.39%
Gross Profit Margin 28.99% 41.07% 33.87%
Selling, General & Admin $263.5M $263.4M $227.0M
YoY Change 12.25% 16.02% 5.88%
% of Gross Profit 188.64% 110.27% 147.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.79M $24.99M $8.309M
YoY Change 194.33% 200.7% 11.19%
% of Gross Profit 17.75% 10.46% 5.38%
Operating Expenses $288.2M $288.3M $249.6M
YoY Change 11.79% 15.52% 6.26%
Operating Profit $115.9M $214.8M $132.8M
YoY Change -14.82% 61.7% 20.51%
Interest Expense $211.0K $250.0K $123.0K
YoY Change 62.31% 103.25% -19.08%
% of Operating Profit 0.18% 0.12% 0.09%
Other Income/Expense, Net
YoY Change
Pretax Income $144.7M $247.4M $167.3M
YoY Change -15.98% 47.82% 20.22%
Income Tax $33.42M $57.06M $37.87M
% Of Pretax Income 23.1% 23.07% 22.63%
Net Earnings $111.3M $190.3M $129.5M
YoY Change -16.82% 46.99% 18.52%
Net Earnings / Revenue 23.1% 32.73% 28.41%
Basic Earnings Per Share $0.82 $1.38 $0.90
Diluted Earnings Per Share $0.81 $1.36 $0.89
COMMON SHARES
Basic Shares Outstanding 137.3M shares 138.4M shares 143.5M shares
Diluted Shares Outstanding 137.8M shares 139.7M shares 145.3M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $802.8M $939.1M $815.6M
YoY Change -0.53% 15.14% 4.79%
Cash & Equivalents $771.7M $907.8M $782.6M
Short-Term Investments $31.17M $31.26M $33.00M
Other Short-Term Assets $50.52M $46.12M $42.81M
YoY Change 32.4% 7.72% 1.88%
Inventory
Prepaid Expenses
Receivables $466.9M $437.8M $406.0M
Other Receivables $23.56M $7.437M $13.10M
Total Short-Term Assets $1.376B $1.481B $1.325B
YoY Change 4.89% 11.78% 7.44%
LONG-TERM ASSETS
Property, Plant & Equipment $178.9M $180.5M $184.3M
YoY Change -2.77% -2.06% 6.35%
Goodwill $117.4M $117.4M $64.49M
YoY Change 82.05% 82.1% 0.0%
Intangibles $61.67M $65.34M $34.38M
YoY Change 85.82% 90.03% 27.03%
Long-Term Investments $46.87M $194.8M $173.3M
YoY Change -74.58% 12.39% 8.58%
Other Assets $30.89M $27.57M $31.72M
YoY Change -6.62% -13.1% -4.74%
Total Long-Term Assets $859.4M $891.6M $826.1M
YoY Change 3.75% 7.94% 0.14%
TOTAL ASSETS
Total Short-Term Assets $1.376B $1.481B $1.325B
Total Long-Term Assets $859.4M $891.6M $826.1M
Total Assets $2.235B $2.373B $2.151B
YoY Change 4.45% 10.31% 4.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.31M $8.037M $5.529M
YoY Change 10.91% 45.36% -57.75%
Accrued Expenses $218.8M $250.5M $199.2M
YoY Change 3.19% 25.71% 10.83%
Deferred Revenue $13.51M $15.42M $1.335M
YoY Change 955.47% 1055.21% -77.67%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $253.6M $285.1M $215.9M
YoY Change 8.87% 32.07% 4.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $30.00M $0.00
YoY Change
Other Long-Term Liabilities $13.97M $22.02M $21.10M
YoY Change -33.61% 4.36% -13.58%
Total Long-Term Liabilities $13.97M $22.02M $21.10M
YoY Change -33.61% 4.36% -13.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $253.6M $285.1M $215.9M
Total Long-Term Liabilities $13.97M $22.02M $21.10M
Total Liabilities $312.8M $399.5M $321.8M
YoY Change -6.36% 24.16% -0.61%
SHAREHOLDERS EQUITY
Retained Earnings $693.5M $733.6M $634.7M
YoY Change 15.74% 15.59% 6.22%
Common Stock $1.274B $1.268B $1.210B
YoY Change 4.38% 4.78% 3.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.922B $1.973B $1.829B
YoY Change
Total Liabilities & Shareholders Equity $2.235B $2.373B $2.151B
YoY Change 4.45% 10.31% 4.51%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $111.3M $190.3M $129.5M
YoY Change -16.82% 46.99% 18.52%
Depreciation, Depletion And Amortization $24.79M $24.99M $8.309M
YoY Change 194.33% 200.7% 11.19%
Cash From Operating Activities $70.19M $260.4M $136.6M
YoY Change -62.74% 90.69% 37.99%
INVESTING ACTIVITIES
Capital Expenditures -$17.76M $9.283M $4.218M
YoY Change 3.61% 120.08% -79.6%
Acquisitions
YoY Change
Other Investing Activities $7.002M $2.000M $11.00M
YoY Change -184.9% -81.82% -833.33%
Cash From Investing Activities -$10.76M -$31.76M -$30.66M
YoY Change -57.63% 3.6% 76.67%
FINANCING ACTIVITIES
Cash Dividend Paid $55.50M $53.13M
YoY Change 4.47% 1.29%
Common Stock Issuance & Retirement, Net $80.28M $55.68M
YoY Change 44.18% -50.27%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -185.5M -$146.7M -$109.5M
YoY Change 10.14% 33.91% -33.65%
NET CHANGE
Cash From Operating Activities 70.19M $260.4M $136.6M
Cash From Investing Activities -10.76M -$31.76M -$30.66M
Cash From Financing Activities -185.5M -$146.7M -$109.5M
Net Change In Cash -126.1M $76.42M -$2.044M
YoY Change 2223.79% -3838.94% -97.84%
FREE CASH FLOW
Cash From Operating Activities $70.19M $260.4M $136.6M
Capital Expenditures -$17.76M $9.283M $4.218M
Free Cash Flow $87.95M $251.1M $132.4M
YoY Change -57.21% 89.75% 69.04%

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92057000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
8966000 USD
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
103527000 USD
CY2022Q1 us-gaap Share Price
SharePrice
60.21
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
49.16
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
18467000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
8153000 shares
CY2022Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-8527000 USD
CY2022Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-189000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8338000 USD
CY2022Q1 us-gaap Revenues
Revenues
581443000 USD
CY2022Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
342620000 USD
CY2022Q1 us-gaap Gross Profit
GrossProfit
238823000 USD
CY2021Q1 us-gaap Revenues
Revenues
455686000 USD
CY2021Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
301333000 USD
CY2021Q1 us-gaap Gross Profit
GrossProfit
154353000 USD
CY2022Q1 us-gaap Gross Profit
GrossProfit
238823000 USD
CY2021Q1 us-gaap Gross Profit
GrossProfit
154353000 USD
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
24024000 USD
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
21516000 USD
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
214799000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
132837000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
15872000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10578000 USD
CY2022Q1 us-gaap Depreciation Nonproduction
DepreciationNonproduction
8098000 USD
CY2021Q1 us-gaap Depreciation Nonproduction
DepreciationNonproduction
8309000 USD
CY2022Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
16887000 USD
CY2021Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
14352000 USD
CY2022Q1 seic Gross Liability For Unrecognized Tax Benefits Exclusive Of Interest And Penalties
GrossLiabilityForUnrecognizedTaxBenefitsExclusiveOfInterestAndPenalties
15768000 USD
CY2021Q4 seic Gross Liability For Unrecognized Tax Benefits Exclusive Of Interest And Penalties
GrossLiabilityForUnrecognizedTaxBenefitsExclusiveOfInterestAndPenalties
14887000 USD
CY2022Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
15251000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
14382000 USD
CY2022Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1445000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1338000 USD
CY2022Q1 seic Gross Liability For Unrecognized Tax Benefits Exclusive Of Interest And Penalties
GrossLiabilityForUnrecognizedTaxBenefitsExclusiveOfInterestAndPenalties
15768000 USD
CY2021Q4 seic Gross Liability For Unrecognized Tax Benefits Exclusive Of Interest And Penalties
GrossLiabilityForUnrecognizedTaxBenefitsExclusiveOfInterestAndPenalties
14887000 USD
CY2022Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1445000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1338000 USD
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
17213000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
16225000 USD
CY2022Q1 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
4272000 USD
CY2021Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
4253000 USD
CY2022Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
12941000 USD
CY2021Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
11972000 USD
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
17213000 USD
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
16225000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.029
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.031
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.001
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.001
CY2022Q1 seic Effective Income Tax Rate Reconciliation Tax Benefit From Stock Option Exercises Percent
EffectiveIncomeTaxRateReconciliationTaxBenefitFromStockOptionExercisesPercent
-0.004
CY2021Q1 seic Effective Income Tax Rate Reconciliation Tax Benefit From Stock Option Exercises Percent
EffectiveIncomeTaxRateReconciliationTaxBenefitFromStockOptionExercisesPercent
-0.011
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.003
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.003
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.231
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.226
CY2021Q4 us-gaap Goodwill
Goodwill
117232000 USD
CY2022Q1 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
211000 USD
CY2022Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-9000 USD
CY2022Q1 us-gaap Goodwill
Goodwill
117434000 USD
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3253000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
921000 USD
CY2022Q1 us-gaap Revenues
Revenues
581443000 USD
CY2022Q1 us-gaap Revenues
Revenues
581443000 USD
CY2021Q1 us-gaap Revenues
Revenues
455686000 USD
CY2021Q1 us-gaap Revenues
Revenues
455686000 USD

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