2024 Q1 Form 10-K Financial Statement

#000006404024000071 Filed on February 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $3.491B $3.152B $12.50B
YoY Change 10.47% 7.32% 11.77%
Cost Of Revenue $1.120B $2.264B $4.141B
YoY Change 2.94% 123.72% 9.96%
Gross Profit $2.371B $888.0M $8.356B
YoY Change 14.43% -53.87% 12.69%
Gross Profit Margin 67.92% 28.17% 66.86%
Selling, General & Admin $628.0M $786.0M $3.159B
YoY Change -10.92% 19.45% -6.62%
% of Gross Profit 26.49% 88.51% 37.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $287.0M $290.0M $1.143B
YoY Change 1048.0% 5.45% 12.83%
% of Gross Profit 12.1% 32.66% 13.68%
Operating Expenses $915.0M $0.00 $3.159B
YoY Change 29.79% -100.0% -6.62%
Operating Profit $1.456B $888.0M $4.020B
YoY Change 27.27% -10.48% -18.69%
Interest Expense -$69.00M -$73.00M $334.0M
YoY Change -181.18% -17.98% 9.87%
% of Operating Profit -4.74% -8.22% 8.31%
Other Income/Expense, Net $6.000M -$19.00M -$15.00M
YoY Change -154.55% 171.43% -121.43%
Pretax Income $1.316B $795.0M $3.671B
YoY Change 25.57% 28.02% -21.93%
Income Tax $248.0M $151.0M $778.0M
% Of Pretax Income 18.84% 18.99% 21.19%
Net Earnings $991.0M $579.0M $2.626B
YoY Change 24.65% 33.72% -19.15%
Net Earnings / Revenue 28.39% 18.37% 21.01%
Basic Earnings Per Share $3.16 $8.25
Diluted Earnings Per Share $3.16 $1.83 $8.23
COMMON SHARES
Basic Shares Outstanding 314.1M shares 316.8M shares 318.4M shares
Diluted Shares Outstanding 314.0M shares 318.9M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.543B $1.291B $1.291B
YoY Change 10.06% -0.69% -0.69%
Cash & Equivalents $1.543B $1.300B $1.291B
Short-Term Investments $26.00M $26.00M
Other Short-Term Assets $906.0M $3.852B $3.852B
YoY Change -53.35% 105.66% 105.66%
Inventory
Prepaid Expenses
Receivables $2.979B $2.826B $2.826B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.428B $5.143B $5.143B
YoY Change -6.77% -9.25% -9.25%
LONG-TERM ASSETS
Property, Plant & Equipment $618.0M $258.0M $637.0M
YoY Change 119.93% -13.13% -11.53%
Goodwill $34.75B $34.85B
YoY Change -0.2% 0.88%
Intangibles $17.12B $17.40B
YoY Change -5.77% -4.96%
Long-Term Investments $1.775B $1.787B $1.787B
YoY Change 1.43% 2.0% 2.0%
Other Assets $788.0M $536.0M $774.0M
YoY Change 3.14% -4.63% -2.52%
Total Long-Term Assets $55.05B $55.45B $55.45B
YoY Change -2.05% -1.2% -1.2%
TOTAL ASSETS
Total Short-Term Assets $5.428B $5.143B $5.143B
Total Long-Term Assets $55.05B $55.45B $55.45B
Total Assets $60.48B $60.59B $60.59B
YoY Change -2.49% -1.93% -1.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $458.0M $557.0M $557.0M
YoY Change 0.44% 23.78% 23.78%
Accrued Expenses $522.0M $1.011B $1.011B
YoY Change 3.37% 16.07% 16.07%
Deferred Revenue $3.535B $3.461B
YoY Change 11.34% 10.72%
Short-Term Debt $0.00 $47.00M $47.00M
YoY Change
Long-Term Debt Due $301.0M $47.00M $47.00M
YoY Change -67.84% -79.2% -79.2%
Total Short-Term Liabilities $5.877B $6.125B $6.125B
YoY Change -8.09% 2.1% 2.1%
LONG-TERM LIABILITIES
Long-Term Debt $11.40B $11.41B $11.41B
YoY Change 6.31% 6.36% 6.36%
Other Long-Term Liabilities $1.316B $522.0M $1.262B
YoY Change 176.47% 6.75% 1.28%
Total Long-Term Liabilities $12.72B $11.93B $12.67B
YoY Change 13.54% 6.37% 5.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.877B $6.125B $6.125B
Total Long-Term Liabilities $12.72B $11.93B $12.67B
Total Liabilities $26.15B $22.49B $26.29B
YoY Change 17.52% 2.04% 3.52%
SHAREHOLDERS EQUITY
Retained Earnings $19.43B $18.73B
YoY Change 6.95% 5.31%
Common Stock $44.71B $44.65B
YoY Change -0.08% -0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.33B $34.20B $34.30B
YoY Change
Total Liabilities & Shareholders Equity $60.48B $60.59B $60.59B
YoY Change -2.49% -1.93% -1.93%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $991.0M $579.0M $2.626B
YoY Change 24.65% 33.72% -19.15%
Depreciation, Depletion And Amortization $287.0M $290.0M $1.143B
YoY Change 1048.0% 5.45% 12.83%
Cash From Operating Activities $948.0M $1.334B $3.710B
YoY Change 59.6% 19.86% 42.53%
INVESTING ACTIVITIES
Capital Expenditures $24.00M $48.00M $143.0M
YoY Change -14.29% 71.43% 60.67%
Acquisitions $1.000M $296.0M
YoY Change -99.63% -240.95%
Other Investing Activities $4.000M $3.000M $705.0M
YoY Change -101.78% -109.09% -81.03%
Cash From Investing Activities -$20.00M -$45.00M $562.0M
YoY Change -92.09% -26.23% -84.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.301B
YoY Change -72.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -657.0M -1.678B -$4.280B
YoY Change 185.65% 40.07% -62.21%
NET CHANGE
Cash From Operating Activities 948.0M 1.334B $3.710B
Cash From Investing Activities -20.00M -45.00M $562.0M
Cash From Financing Activities -657.0M -1.678B -$4.280B
Net Change In Cash 271.0M -389.0M $4.000M
YoY Change 129.66% 166.44% -100.08%
FREE CASH FLOW
Cash From Operating Activities $948.0M $1.334B $3.710B
Capital Expenditures $24.00M $48.00M $143.0M
Free Cash Flow $924.0M $1.286B $3.567B
YoY Change 63.25% 18.53% 41.89%

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