2020 Q1 Form 10-Q Financial Statement

#000091376020000062 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $20.37B $7.192B
YoY Change 183.17% 10.53%
Cost Of Revenue $20.00B $6.921B
YoY Change 188.96% 10.79%
Gross Profit $366.8M $271.1M
YoY Change 35.3% 4.19%
Gross Profit Margin 1.8% 3.77%
Selling, General & Admin $210.0M $159.0M
YoY Change 32.08% 1.92%
% of Gross Profit 57.25% 58.65%
Research & Development $9.500M
YoY Change 6.74%
% of Gross Profit 3.5%
Depreciation & Amortization $4.200M $3.200M
YoY Change 31.25% 10.34%
% of Gross Profit 1.15% 1.18%
Operating Expenses $280.0M $9.500M
YoY Change 2847.37% 6.74%
Operating Profit $86.80M $261.6M
YoY Change -66.82% 4.1%
Interest Expense $27.80M $35.20M
YoY Change -21.02% 85.26%
% of Operating Profit 32.03% 13.46%
Other Income/Expense, Net $2.900M $2.600M
YoY Change 11.54% 4.0%
Pretax Income $56.10M $30.90M
YoY Change 81.55% 4.75%
Income Tax $16.80M $7.500M
% Of Pretax Income 29.95% 24.27%
Net Earnings $39.30M $23.40M
YoY Change 67.95% 3.08%
Net Earnings / Revenue 0.19% 0.33%
Basic Earnings Per Share $2.03 $1.23
Diluted Earnings Per Share $2.00 $1.21
COMMON SHARES
Basic Shares Outstanding 18.87M shares 18.75M shares
Diluted Shares Outstanding 19.19M shares 19.00M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $520.0M $274.0M
YoY Change 89.78% -18.45%
Cash & Equivalents $3.690B $2.110B
Short-Term Investments
Other Short-Term Assets $4.536B
YoY Change
Inventory $255.2M $279.8M
Prepaid Expenses
Receivables $481.0M $305.0M
Other Receivables $2.000M $1.000M
Total Short-Term Assets $5.539B $580.0M
YoY Change 855.0% 4.13%
LONG-TERM ASSETS
Property, Plant & Equipment $43.00M $45.60M
YoY Change -5.7% 11.22%
Goodwill $52.20M $46.60M
YoY Change 12.02% 1.53%
Intangibles $20.90M $12.80M
YoY Change 63.28% 14.29%
Long-Term Investments $4.850B $5.129B
YoY Change -5.44% 70.17%
Other Assets $14.00M $3.249B
YoY Change -99.57% 1.88%
Total Long-Term Assets $5.332B $8.828B
YoY Change -39.6% 32.81%
TOTAL ASSETS
Total Short-Term Assets $5.539B $580.0M
Total Long-Term Assets $5.332B $8.828B
Total Assets $10.87B $9.408B
YoY Change 15.55% 30.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.961B $3.570B
YoY Change 38.96% 7.82%
Accrued Expenses $34.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $3.869B $3.761B
YoY Change 2.87% 1192.88%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.875B $7.342B
YoY Change 20.88% 34.86%
LONG-TERM LIABILITIES
Long-Term Debt $459.0M $429.0M
YoY Change 6.99% 25.81%
Other Long-Term Liabilities $704.0M $957.0M
YoY Change -26.44% 16.28%
Total Long-Term Liabilities $1.163B $1.386B
YoY Change -16.09% 19.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.875B $7.342B
Total Long-Term Liabilities $1.163B $1.386B
Total Liabilities $10.22B $8.856B
YoY Change 15.43% 31.45%
SHAREHOLDERS EQUITY
Retained Earnings $458.4M $358.6M
YoY Change 27.83% 29.32%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $57.60M $46.30M
YoY Change 24.41% 0.0%
Treasury Stock Shares 2.422M shares 2.122M shares
Shareholders Equity $648.6M $552.0M
YoY Change
Total Liabilities & Shareholders Equity $10.87B $9.408B
YoY Change 15.55% 30.6%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $39.30M $23.40M
YoY Change 67.95% 3.08%
Depreciation, Depletion And Amortization $4.200M $3.200M
YoY Change 31.25% 10.34%
Cash From Operating Activities $502.4M $76.10M
YoY Change 560.18% -116.46%
INVESTING ACTIVITIES
Capital Expenditures -$2.700M -$2.800M
YoY Change -3.57% -24.32%
Acquisitions
YoY Change
Other Investing Activities -$2.700M -$7.100M
YoY Change -61.97%
Cash From Investing Activities -$5.400M -$9.900M
YoY Change -45.45% 167.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.100M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 127.8M -7.600M
YoY Change -1781.58% -91.05%
NET CHANGE
Cash From Operating Activities 502.4M 76.10M
Cash From Investing Activities -5.400M -9.900M
Cash From Financing Activities 127.8M -7.600M
Net Change In Cash 624.8M 58.60M
YoY Change 966.21% -110.64%
FREE CASH FLOW
Cash From Operating Activities $502.4M $76.10M
Capital Expenditures -$2.700M -$2.800M
Free Cash Flow $505.1M $78.90M
YoY Change 540.18% -117.2%

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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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41900000 USD
CY2020Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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35900000 USD
CY2019Q1 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
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6921100000 USD
us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
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13208600000 USD
CY2020Q1 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
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CY2019Q3 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
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700000 USD
CY2020Q1 us-gaap Debt Instrument Carrying Amount
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185000000 USD
CY2019Q3 us-gaap Debt Longterm And Shortterm Combined Amount
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369900000 USD
CY2020Q1 us-gaap Debt Longterm And Shortterm Combined Amount
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CY2019Q3 us-gaap Deferred Income Tax Assets Net
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18000000 USD
CY2020Q1 us-gaap Deferred Income Tax Assets Net
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14000000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2020Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
5100000 USD
CY2016Q3 us-gaap Deferred Tax Assets Valuation Allowance
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3600000 USD
CY2019Q3 us-gaap Deferred Tax Assets Valuation Allowance
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8500000 USD
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
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8400000 USD
us-gaap Depreciation And Amortization
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6100000 USD
CY2019Q1 us-gaap Depreciation Depletion And Amortization
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3200000 USD
us-gaap Depreciation Depletion And Amortization
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6100000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
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4200000 USD
us-gaap Depreciation Depletion And Amortization
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8100000 USD
CY2019Q3 us-gaap Derivative Asset Fair Value Gross Liability And Obligation To Return Cash Offset
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CY2020Q1 us-gaap Derivative Asset Fair Value Gross Liability And Obligation To Return Cash Offset
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CY2019Q3 us-gaap Derivative Fair Value Of Derivative Asset
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CY2020Q1 us-gaap Derivative Fair Value Of Derivative Asset
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CY2019Q3 us-gaap Derivative Fair Value Of Derivative Liability
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3604500000 USD
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Liability
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CY2019Q3 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
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CY2020Q1 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
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CY2019Q3 us-gaap Derivative Number Of Instruments Held
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10600000
CY2020Q1 us-gaap Derivative Number Of Instruments Held
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10800000
CY2019Q1 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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2.19
CY2020Q1 us-gaap Earnings Per Share Basic
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2.03
us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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2.15
CY2020Q1 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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300000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.24 Rate
us-gaap Effective Income Tax Rate Continuing Operations
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0.25 Rate
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0.30 Rate
us-gaap Effective Income Tax Rate Continuing Operations
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0.29 Rate
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 Rate
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Deductions
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us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.005 Rate
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.007 Rate
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.033 Rate
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.013 Rate
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.012 Rate
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2019Q3 us-gaap Fair Value Of Securities Received As Collateral That Can Be Resold Or Repledged
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CY2020Q1 us-gaap Fair Value Of Securities Received As Collateral That Can Be Resold Or Repledged
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2449200000 USD
CY2019Q3 us-gaap Fair Value Of Securities Received As Collateral That Have Been Resold Or Repledged
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329800000 USD
CY2020Q1 us-gaap Fair Value Of Securities Received As Collateral That Have Been Resold Or Repledged
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252200000 USD
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743600000 USD
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1228900000 USD
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1049300000 USD
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17400000 USD
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2000000 USD
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4900000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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2500000 USD
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2700000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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16100000 USD
CY2019Q1 us-gaap Floor Brokerage Exchange And Clearance Fees
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42700000 USD
us-gaap Floor Brokerage Exchange And Clearance Fees
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92800000 USD
CY2020Q1 us-gaap Floor Brokerage Exchange And Clearance Fees
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63800000 USD
us-gaap Floor Brokerage Exchange And Clearance Fees
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110100000 USD
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us-gaap Foreign Earnings Repatriated
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us-gaap General Insurance Expense
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1700000 USD
CY2020Q1 us-gaap General Insurance Expense
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us-gaap General Insurance Expense
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us-gaap Gross Profit
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us-gaap Gross Profit
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us-gaap Income Loss From Continuing Operations
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CY2020Q1 us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations
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CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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30900000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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55300000 USD
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56100000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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77800000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Taxes Paid Net
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30200000 USD
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63200000 USD
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2700000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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100000 USD
us-gaap Increase Decrease In Financial Instruments Sold Not Yet Purchased
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85800000 USD
us-gaap Increase Decrease In Financial Instruments Sold Not Yet Purchased
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534800000 USD
us-gaap Increase Decrease In Financial Instruments Used In Operating Activities
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350500000 USD
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us-gaap Increase Decrease In Income Taxes Receivable
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57300000 USD
us-gaap Increase Decrease In Inventories
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25900000 USD
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1000000 USD
us-gaap Increase Decrease In Payables To Broker Dealers
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485400000 USD
us-gaap Increase Decrease In Payables To Broker Dealers
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163000000 USD
us-gaap Increase Decrease In Payables To Customers
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us-gaap Increase Decrease In Payables To Customers
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942000000 USD
us-gaap Increase Decrease In Payables Under Repurchase Agreements
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448000000 USD
us-gaap Increase Decrease In Payables Under Repurchase Agreements
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26600000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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9600000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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0 USD
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371600000 USD
us-gaap Increase Decrease In Receivables Under Repurchase Agreements
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us-gaap Increase Decrease In Restricted Cash And Investments For Operating Activities
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us-gaap Increase Decrease In Restricted Cash And Investments For Operating Activities
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us-gaap Increase Decrease In Securities Borrowed
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us-gaap Increase Decrease In Securities Borrowed
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us-gaap Increase Decrease In Securities Loaned Transactions
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1098600000 USD
us-gaap Increase Decrease In Securities Loaned Transactions
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CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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4800000 USD
CY2019Q3 us-gaap Indefinite Lived License Agreements
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2700000 USD
CY2020Q1 us-gaap Indefinite Lived License Agreements
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2700000 USD
CY2019Q1 us-gaap Information Technology And Data Processing
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us-gaap Information Technology And Data Processing
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CY2020Q1 us-gaap Information Technology And Data Processing
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5900000 USD
us-gaap Information Technology And Data Processing
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11900000 USD
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20900000 USD
CY2019Q1 us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Interest Expense
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CY2019Q1 us-gaap Interest Income Operating
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us-gaap Interest Income Operating
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us-gaap Interest Income Operating
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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CY2016Q3 us-gaap Inventory Adjustments
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CY2019Q3 us-gaap Inventory Adjustments
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500000 USD
CY2020Q1 us-gaap Inventory Adjustments
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1200000 USD
CY2019Q3 us-gaap Inventory Gross
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CY2020Q1 us-gaap Inventory Gross
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CY2020Q1 us-gaap Inventory Net
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CY2019Q1 us-gaap Labor And Related Expense
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us-gaap Labor And Related Expense
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CY2020Q1 us-gaap Labor And Related Expense
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us-gaap Labor And Related Expense
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2019Q3 us-gaap Liabilities
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CY2020Q1 us-gaap Liabilities
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CY2019Q3 us-gaap Liabilities And Stockholders Equity
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CY2020Q1 us-gaap Liabilities And Stockholders Equity
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CY2019Q3 us-gaap Line Of Credit
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CY2020Q1 us-gaap Line Of Credit
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
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us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
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us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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CY2019Q1 us-gaap Noninterest Expense
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us-gaap Noninterest Expense
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CY2020Q1 us-gaap Noninterest Expense
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us-gaap Noninterest Expense
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CY2019Q1 us-gaap Noninterest Expense Commission Expense
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us-gaap Noninterest Expense Commission Expense
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CY2020Q1 us-gaap Noninterest Expense Commission Expense
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us-gaap Noninterest Expense Commission Expense
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55800000 USD
CY2019Q3 us-gaap Notes Payable To Bank
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CY2020Q1 us-gaap Notes Payable To Bank
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CY2019Q1 us-gaap Occupancy Net
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us-gaap Occupancy Net
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CY2020Q1 us-gaap Occupancy Net
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us-gaap Occupancy Net
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CY2019Q1 us-gaap Operating Costs And Expenses
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us-gaap Operating Costs And Expenses
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13900000 USD
CY2020Q1 us-gaap Operating Costs And Expenses
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10600000 USD
us-gaap Operating Costs And Expenses
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18100000 USD
CY2020Q1 us-gaap Operating Lease Cost
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3500000 USD
us-gaap Operating Lease Cost
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CY2019Q3 us-gaap Operating Lease Liability
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1100000 USD
us-gaap Share Based Compensation
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3800000 USD
us-gaap Share Based Compensation
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5000000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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500000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
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800000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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2500000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Fiscal Period
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s fiscal year end is September&#160;30, and the fiscal quarters end on December&#160;31,&#160;March&#160;31, June&#160;30 and September 30. Unless otherwise stated, all dates refer to fiscal years and fiscal interim periods.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></div>
us-gaap Use Of Estimates
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