2023 Q1 Form 10-Q Financial Statement

#000143774923002213 Filed on February 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q3
Revenue $1.123B $814.0M $314.2M
YoY Change 27.53% 46.56% 8.27%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $62.60M $62.10M $61.10M
YoY Change 6.28% 9.14% 5.89%
% of Gross Profit
Operating Expenses $863.1M $663.8M $284.4M
YoY Change 35.77% 44.27% 7.93%
Operating Profit $260.3M $150.2M $150.2M
YoY Change 6.16% 57.61% 57.61%
Interest Expense $47.20M -$43.60M -$34.40M
YoY Change -271.64% 52.45% 21.99%
% of Operating Profit 18.13% -29.03% -22.9%
Other Income/Expense, Net $7.000M $6.000M -$600.0K
YoY Change -305.88% -18.92% -92.94%
Pretax Income $220.1M $112.6M -$5.200M
YoY Change 2.71% 51.96% -48.0%
Income Tax $40.90M $21.60M $1.900M
% Of Pretax Income 18.58% 19.18%
Net Earnings $179.2M $91.00M -$7.100M
YoY Change 3.23% 63.38% -28.28%
Net Earnings / Revenue 15.95% 11.18% -2.26%
Basic Earnings Per Share $3.33 $1.66 $1.66
Diluted Earnings Per Share $3.33 $1.660M -$135.8K
COMMON SHARES
Basic Shares Outstanding 52.55M 52.50M 52.49M
Diluted Shares Outstanding 52.60M 52.60M 52.60M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.900M $4.800M $6.500M
YoY Change -16.87% -41.46% 51.16%
Cash & Equivalents $6.900M $4.800M $6.500M
Short-Term Investments
Other Short-Term Assets $60.20M $145.2M $122.7M
YoY Change -80.78% -58.81% 85.35%
Inventory $204.3M $372.7M $422.3M
Prepaid Expenses $32.50M $31.60M $41.10M
Receivables $579.1M $779.6M $622.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.112B $1.630B $1.592B
YoY Change 2.05% 13.54% 20.93%
LONG-TERM ASSETS
Property, Plant & Equipment $520.4M $508.9M $491.4M
YoY Change -90.83% -90.91% 4.31%
Goodwill $1.172B $1.172B $1.172B
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $131.3M $93.50M $87.80M
YoY Change 47.53% 3.43% 5.66%
Other Assets $263.5M $260.4M $258.1M
YoY Change -80.82% -80.77% -2.57%
Total Long-Term Assets $8.937B $8.698B $8.492B
YoY Change 7.52% 5.88% 5.62%
TOTAL ASSETS
Total Short-Term Assets $1.112B $1.630B $1.592B
Total Long-Term Assets $8.937B $8.698B $8.492B
Total Assets $10.05B $10.33B $10.08B
YoY Change 6.89% 7.02% 7.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $232.3M $506.8M $617.4M
YoY Change -36.79% 18.55% 50.62%
Accrued Expenses $38.60M $30.60M $50.20M
YoY Change -1.78% 2.34% -23.94%
Deferred Revenue $6.800M $16.90M $18.70M
YoY Change 7.94% -46.01% -41.74%
Short-Term Debt $561.0M $1.227B $1.038B
YoY Change -7.59% 45.04% 54.39%
Long-Term Debt Due $256.6M $256.6M $281.2M
YoY Change 722.44% 722.44% 403.94%
Total Short-Term Liabilities $1.407B $2.405B $2.354B
YoY Change 0.8% 39.75% 46.34%
LONG-TERM LIABILITIES
Long-Term Debt $3.703B $3.156B $2.959B
YoY Change 15.44% -1.57% 0.66%
Other Long-Term Liabilities $146.0M $156.6M $162.8M
YoY Change -88.58% -89.03% 6.89%
Total Long-Term Liabilities $3.849B $3.313B $3.121B
YoY Change -14.21% -28.52% 0.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.407B $2.405B $2.354B
Total Long-Term Liabilities $3.849B $3.313B $3.121B
Total Liabilities $5.255B $5.718B $5.475B
YoY Change -19.89% -18.09% 16.49%
SHAREHOLDERS EQUITY
Retained Earnings $1.090B $953.0M $905.5M
YoY Change 9.8% 10.88% 7.41%
Common Stock $52.60M $52.50M $52.50M
YoY Change 0.96% 1.55% 1.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.987B $2.864B $2.819B
YoY Change
Total Liabilities & Shareholders Equity $10.05B $10.33B $10.08B
YoY Change 6.89% 7.02% 7.77%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $179.2M $91.00M -$7.100M
YoY Change 3.23% 63.38% -28.28%
Depreciation, Depletion And Amortization $62.60M $62.10M $61.10M
YoY Change 6.28% 9.14% 5.89%
Cash From Operating Activities $350.7M -$170.8M -$149.6M
YoY Change -8.91% -25.71% -614.09%
INVESTING ACTIVITIES
Capital Expenditures $153.0M $154.8M -$149.7M
YoY Change -217.51% -206.25% -7.36%
Acquisitions
YoY Change
Other Investing Activities -$36.00M -$3.100M $1.300M
YoY Change -36100.0% -219.23% 0.0%
Cash From Investing Activities -$189.0M -$151.7M -$148.4M
YoY Change 45.27% 6.01% -7.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $31.20M
YoY Change -44.09%
Cash From Financing Activities -159.5M $321.0M 288.4M
YoY Change -37.43% -14.83% 143.17%
NET CHANGE
Cash From Operating Activities 350.7M -$170.8M -149.6M
Cash From Investing Activities -189.0M -$151.7M -148.4M
Cash From Financing Activities -159.5M $321.0M 288.4M
Net Change In Cash 2.200M -$1.500M -9.600M
YoY Change 2460658346666566.0% -138.46% -23.81%
FREE CASH FLOW
Cash From Operating Activities $350.7M -$170.8M -$149.6M
Capital Expenditures $153.0M $154.8M -$149.7M
Free Cash Flow $197.7M -$325.6M $100.0K
YoY Change -61.63% 286.7% -99.95%

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CY2022Q3 us-gaap Assets
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CY2021Q4 us-gaap Assets
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RegulatoryAssetsCurrent
265700000 usd
CY2022Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
1220700000 usd
CY2022Q3 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
1112400000 usd
CY2021Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
1089900000 usd
CY2022Q4 us-gaap Regulatory Assets
RegulatoryAssets
1489800000 usd
CY2022Q3 us-gaap Regulatory Assets
RegulatoryAssets
1467800000 usd
CY2021Q4 us-gaap Regulatory Assets
RegulatoryAssets
1355600000 usd
CY2022Q4 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
3700000 usd
CY2022Q3 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
3700000 usd
CY2021Q4 us-gaap Regulatory Liability Current
RegulatoryLiabilityCurrent
4100000 usd
CY2022Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
344900000 usd
CY2022Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
418200000 usd
CY2021Q4 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
531800000 usd
CY2022Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
348600000 usd
CY2022Q3 us-gaap Regulatory Liabilities
RegulatoryLiabilities
421900000 usd
CY2021Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
535900000 usd
CY2022Q4 us-gaap Remaining Amounts Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided
RemainingAmountsOfRegulatoryAssetsForWhichNoReturnOnInvestmentDuringRecoveryPeriodIsProvided
675400000 usd
CY2022Q3 us-gaap Remaining Amounts Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided
RemainingAmountsOfRegulatoryAssetsForWhichNoReturnOnInvestmentDuringRecoveryPeriodIsProvided
686300000 usd
CY2021Q4 us-gaap Remaining Amounts Of Regulatory Assets For Which No Return On Investment During Recovery Period Is Provided
RemainingAmountsOfRegulatoryAssetsForWhichNoReturnOnInvestmentDuringRecoveryPeriodIsProvided
666600000 usd
CY2022Q4 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
1230000000.0 usd
CY2022Q4 sr Shortterm Debt Minimum Amount Outstanding During Period
ShorttermDebtMinimumAmountOutstandingDuringPeriod
829500000 usd
CY2022Q4 us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
1071300000 usd
CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate Over Time
ShortTermDebtWeightedAverageInterestRateOverTime
0.044 pure
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1227000000.0 usd
CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.049 pure
CY2022Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
1037500000 usd
CY2022Q3 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.033 pure
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
846000000.0 usd
CY2021Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.005 pure
CY2022Q4 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1600000 usd
CY2021Q4 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1100000 usd
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation Increase Decrease For Remeasurement Due To Settlement
DefinedBenefitPlanBenefitObligationIncreaseDecreaseForRemeasurementDueToSettlement
0 usd
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation Increase Decrease For Remeasurement Due To Settlement
DefinedBenefitPlanBenefitObligationIncreaseDecreaseForRemeasurementDueToSettlement
0 usd
CY2022Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 pure
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
814000000.0 usd
CY2022Q4 sr Intersegment Revenues
IntersegmentRevenues
0 usd
CY2022Q4 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
814000000.0 usd
CY2022Q4 us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
419200000 usd
CY2022Q4 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
132100000 usd
CY2022Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
62100000 usd
CY2022Q4 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
50400000 usd
CY2022Q4 us-gaap Operating Expenses
OperatingExpenses
663800000 usd
CY2022Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
150200000 usd
CY2022Q4 sr Net Economic Earnings
NetEconomicEarnings
85100000 usd
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
555400000 usd
CY2021Q4 sr Intersegment Revenues
IntersegmentRevenues
0 usd
CY2021Q4 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
555400000 usd
CY2021Q4 us-gaap Utilities Operating Expense Gas And Petroleum Purchased
UtilitiesOperatingExpenseGasAndPetroleumPurchased
249200000 usd
CY2021Q4 us-gaap Utilities Operating Expense Maintenance Operations And Other Costs And Expenses
UtilitiesOperatingExpenseMaintenanceOperationsAndOtherCostsAndExpenses
116400000 usd
CY2021Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
56900000 usd
CY2021Q4 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
37600000 usd
CY2021Q4 us-gaap Operating Expenses
OperatingExpenses
460100000 usd
CY2021Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
95300000 usd
CY2021Q4 sr Net Economic Earnings
NetEconomicEarnings
62600000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
91000000.0 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
55700000 usd
CY2022Q4 sr Fair Value And Timing Adjustments
FairValueAndTimingAdjustments
7800000 usd
CY2021Q4 sr Fair Value And Timing Adjustments
FairValueAndTimingAdjustments
-3700000 usd
CY2022Q4 sr Net Economic Earnings Reconciliation Adjustments Income Tax
NetEconomicEarningsReconciliationAdjustmentsIncomeTax
-1900000 usd
CY2021Q4 sr Net Economic Earnings Reconciliation Adjustments Income Tax
NetEconomicEarningsReconciliationAdjustmentsIncomeTax
-3200000 usd
CY2022Q4 sr Net Economic Earnings
NetEconomicEarnings
85100000 usd
CY2021Q4 sr Net Economic Earnings
NetEconomicEarnings
62600000 usd
CY2022Q4 us-gaap Assets
Assets
10327700000 usd
CY2022Q3 us-gaap Assets
Assets
10083700000 usd
CY2021Q4 us-gaap Assets
Assets
9650500000 usd
CY2022Q4 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
1445000000.0 usd
CY2022Q4 sr Capital Committed To Contribute To Partnership
CapitalCommittedToContributeToPartnership
10000000.0 usd
CY2022Q4 sr Contributed Capital Total
ContributedCapitalTotal
1900000 usd

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