2024 Q2 Form 10-Q Financial Statement

#000035089424000084 Filed on April 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $519.0M $511.6M
YoY Change 6.12% 9.05%
Cost Of Revenue $73.21M $73.84M
YoY Change -6.95% 0.51%
Gross Profit $169.9M $437.7M
YoY Change -58.61% 10.64%
Gross Profit Margin 32.73% 85.57%
Selling, General & Admin $287.9M $293.1M
YoY Change 3.04% 6.23%
% of Gross Profit 169.48% 66.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.85M $18.78M
YoY Change 2.4% 4.57%
% of Gross Profit 11.1% 4.29%
Operating Expenses $309.3M $311.9M
YoY Change 3.86% 6.12%
Operating Profit $136.5M $125.9M
YoY Change 21.24% 23.67%
Interest Expense $45.80M $44.58M
YoY Change 7.41% 16.52%
% of Operating Profit 33.55% 35.42%
Other Income/Expense, Net
YoY Change
Pretax Income $182.8M $170.4M
YoY Change 17.76% 21.71%
Income Tax $43.69M $39.03M
% Of Pretax Income 23.9% 22.9%
Net Earnings $139.1M $131.4M
YoY Change 17.05% 22.79%
Net Earnings / Revenue 26.81% 25.69%
Basic Earnings Per Share $1.06 $1.00
Diluted Earnings Per Share $1.05 $0.99
COMMON SHARES
Basic Shares Outstanding 131.4M shares 131.4M shares
Diluted Shares Outstanding 132.1M shares 132.7M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $798.6M $878.6M
YoY Change -1.17% 1.44%
Cash & Equivalents $768.3M $846.6M
Short-Term Investments $30.34M $31.96M
Other Short-Term Assets $61.47M $59.44M
YoY Change 9.95% 15.83%
Inventory
Prepaid Expenses
Receivables $589.7M $617.0M
Other Receivables $47.96M $0.00
Total Short-Term Assets $1.498B $1.555B
YoY Change 3.9% 8.64%
LONG-TERM ASSETS
Property, Plant & Equipment $167.6M $188.9M
YoY Change -17.37% -8.84%
Goodwill $137.3M $137.2M
YoY Change 18.73% 18.69%
Intangibles $75.41M $78.74M
YoY Change 51.97% 49.79%
Long-Term Investments $53.22M $229.5M
YoY Change -70.08% 23.47%
Other Assets $50.91M $140.0M
YoY Change -46.2% 63.08%
Total Long-Term Assets $1.031B $1.013B
YoY Change 16.75% 14.24%
TOTAL ASSETS
Total Short-Term Assets $1.498B $1.555B
Total Long-Term Assets $1.031B $1.013B
Total Assets $2.529B $2.568B
YoY Change 8.78% 10.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.199M $10.29M
YoY Change 27.41% -27.33%
Accrued Expenses $208.1M $250.4M
YoY Change -16.06% 2.62%
Deferred Revenue $12.20M $15.27M
YoY Change -18.21% 6.59%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $237.1M $276.0M
YoY Change -12.29% 1.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $18.16M $33.40M
YoY Change -41.49% 5.52%
Total Long-Term Liabilities $18.16M $33.40M
YoY Change -41.49% 5.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $237.1M $276.0M
Total Long-Term Liabilities $18.16M $33.40M
Total Liabilities $281.6M $309.4M
YoY Change -6.59% 1.72%
SHAREHOLDERS EQUITY
Retained Earnings $823.5M $843.9M
YoY Change 13.64% 15.6%
Common Stock $1.466B $1.456B
YoY Change 9.52% 9.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.248B $2.259B
YoY Change
Total Liabilities & Shareholders Equity $2.529B $2.568B
YoY Change 8.78% 10.78%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $139.1M $131.4M
YoY Change 17.05% 22.79%
Depreciation, Depletion And Amortization $18.85M $18.78M
YoY Change 2.4% 4.57%
Cash From Operating Activities $114.7M $112.3M
YoY Change 68.51% -1.81%
INVESTING ACTIVITIES
Capital Expenditures $14.13M $13.07M
YoY Change -4.69% 22.86%
Acquisitions
YoY Change
Other Investing Activities -$9.318M $9.931M
YoY Change -255.2% 153.54%
Cash From Investing Activities -$23.45M -$37.63M
YoY Change 165.82% 121.53%
FINANCING ACTIVITIES
Cash Dividend Paid $60.36M
YoY Change 4.36%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -167.5M -$62.16M
YoY Change 38.6% -47.59%
NET CHANGE
Cash From Operating Activities 114.7M $112.3M
Cash From Investing Activities -23.45M -$37.63M
Cash From Financing Activities -167.5M -$62.16M
Net Change In Cash -76.24M $11.93M
YoY Change 23.76% -163.97%
FREE CASH FLOW
Cash From Operating Activities $114.7M $112.3M
Capital Expenditures $14.13M $13.07M
Free Cash Flow $100.6M $99.22M
YoY Change 88.88% -4.34%

Facts In Submission

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<div style="margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Reclassifications</span></div><div style="margin-top:3pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior year amounts have been reclassified to conform to current year presentation.</span></div>
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