2024 Q1 Form 10-K Financial Statement

#000095017024022080 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.435B $1.412B $5.503B
YoY Change 5.31% 5.48% 4.16%
Cost Of Revenue $1.456B $692.3M $2.851B
YoY Change 100.58% 0.2% 3.01%
Gross Profit -$20.60M $719.3M $2.652B
YoY Change -103.23% 11.11% 5.43%
Gross Profit Margin -1.44% 50.96% 48.19%
Selling, General & Admin $253.4M $266.8M $969.1M
YoY Change 6.16% 15.7% 4.76%
% of Gross Profit 37.09% 36.54%
Research & Development $120.9M $118.3M $473.8M
YoY Change 2.28% 2.42% 5.92%
% of Gross Profit 16.45% 17.87%
Depreciation & Amortization $165.5M $170.0M $670.4M
YoY Change -0.24% -4.17% -0.18%
% of Gross Profit 23.63% 25.28%
Operating Expenses -$353.5M $385.1M $1.443B
YoY Change -199.05% 11.27% 5.14%
Operating Profit $332.9M $334.2M $1.209B
YoY Change 18.85% 10.92% 5.77%
Interest Expense -$109.0M -$61.90M -$369.8M
YoY Change 2.64% -18.98% -218.45%
% of Operating Profit -32.74% -18.52% -30.59%
Other Income/Expense, Net $1.900M $5.400M $20.70M
YoY Change -64.81% -89.0% -0.48%
Pretax Income $224.7M $276.7M $857.7M
YoY Change 25.74% 1.5% -2.1%
Income Tax $66.70M $81.80M $249.1M
% Of Pretax Income 29.68% 29.56% 29.04%
Net Earnings $158.0M $194.4M $607.1M
YoY Change 25.4% -6.31% -6.63%
Net Earnings / Revenue 11.01% 13.77% 11.03%
Basic Earnings Per Share $0.64 $2.45
Diluted Earnings Per Share $0.62 $0.77 $2.39
COMMON SHARES
Basic Shares Outstanding 247.1M 247.5M 248.3M
Diluted Shares Outstanding 253.3M 254.5M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $412.5M $432.2M $432.2M
YoY Change -4.8% -1.8% -1.8%
Cash & Equivalents $412.5M $432.2M $432.2M
Short-Term Investments
Other Short-Term Assets $145.0M $168.2M $168.2M
YoY Change -8.63% -14.66% -14.66%
Inventory
Prepaid Expenses
Receivables $923.1M $835.5M $835.5M
Other Receivables $2.027B $2.616B $2.616B
Total Short-Term Assets $3.508B $4.052B $4.052B
YoY Change 86.85% 67.11% 67.11%
LONG-TERM ASSETS
Property, Plant & Equipment $513.6M $536.7M $536.7M
YoY Change -10.99% 56.06% -11.22%
Goodwill $8.933B $8.970B
YoY Change 0.49% 1.2%
Intangibles
YoY Change
Long-Term Investments $530.4M $529.9M $529.9M
YoY Change 17.71% 98.54% 15.0%
Other Assets
YoY Change
Total Long-Term Assets $13.88B $14.05B $14.05B
YoY Change -1.78% -1.25% -1.25%
TOTAL ASSETS
Total Short-Term Assets $3.508B $4.052B $4.052B
Total Long-Term Assets $13.88B $14.05B $14.05B
Total Assets $17.39B $18.10B $18.10B
YoY Change 8.61% 8.7% 8.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.30M $80.30M $80.30M
YoY Change -7.49% 62.22% 62.22%
Accrued Expenses $398.2M $531.9M $531.9M
YoY Change -15.62% -14.25% -14.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $50.80M $51.50M $51.50M
YoY Change -60.74% -7.54% -7.54%
Total Short-Term Liabilities $3.073B $3.772B $3.772B
YoY Change 86.32% 72.17% 72.17%
LONG-TERM LIABILITIES
Long-Term Debt $6.594B $6.669B $6.669B
YoY Change -4.57% -5.06% -5.06%
Other Long-Term Liabilities $447.9M $447.8M $447.8M
YoY Change -3.03% 98.32% -3.68%
Total Long-Term Liabilities $7.041B $7.116B $7.116B
YoY Change -4.48% -1.84% -4.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.073B $3.772B $3.772B
Total Long-Term Liabilities $7.041B $7.116B $7.116B
Total Liabilities $10.95B $11.76B $11.76B
YoY Change 10.34% 11.49% 10.88%
SHAREHOLDERS EQUITY
Retained Earnings $3.224B $3.126B
YoY Change 14.52% 14.09%
Common Stock $5.468B $5.371B
YoY Change 5.79% 5.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.787B $1.734B
YoY Change 28.13% 37.62%
Treasury Stock Shares
Shareholders Equity $6.434B $6.340B $6.340B
YoY Change
Total Liabilities & Shareholders Equity $17.39B $18.10B $18.10B
YoY Change 8.61% 8.7% 8.7%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $158.0M $194.4M $607.1M
YoY Change 25.4% -6.31% -6.63%
Depreciation, Depletion And Amortization $165.5M $170.0M $670.4M
YoY Change -0.24% -4.17% -0.18%
Cash From Operating Activities $180.5M $388.4M $1.215B
YoY Change -29.16% 5.06% 7.12%
INVESTING ACTIVITIES
Capital Expenditures $55.80M $69.90M $251.5M
YoY Change 5.08% 49.36% 296.69%
Acquisitions $700.0K $34.10M
YoY Change -97.92%
Other Investing Activities $5.200M -$31.40M -$16.90M
YoY Change 57.58% 946.67% -98.91%
Cash From Investing Activities -$50.60M -$101.3M -$268.4M
YoY Change 1.61% 103.41% -84.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$356.2M
YoY Change -174.82%
Debt Paid & Issued, Net $94.90M $749.7M
YoY Change -49.95% 24.99%
Cash From Financing Activities -835.9M 1.525B 712.8M
YoY Change 10.67% -452.45% -160.18%
NET CHANGE
Cash From Operating Activities 180.5M 388.4M 1.215B
Cash From Investing Activities -50.60M -101.3M -268.4M
Cash From Financing Activities -835.9M 1.525B 712.8M
Net Change In Cash -706.0M 1.813B 1.660B
YoY Change 28.29% -1705.4% -190.5%
FREE CASH FLOW
Cash From Operating Activities $180.5M $388.4M $1.215B
Capital Expenditures $55.80M $69.90M $251.5M
Free Cash Flow $124.7M $318.5M $963.6M
YoY Change -38.18% -1.36% -10.02%

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CY2021 us-gaap Valuation Allowances And Reserves Adjustments
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<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Consolidated Financial Statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, but not limited to, collectability of accounts receivable, valuation of non-marketable securities, costs to complete certain contracts, valuation of acquired assets and liabilities, valuation of stock options, assessment of probability of vesting of performance-based equity awards, income tax accruals and the value of deferred tax assets and liabilities. Estimates are also used to determine the remaining economic lives and carrying value of fixed assets, goodwill and intangible assets. Actual results could differ from those estimates.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023 ssnc Maintenance Contract Term
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CY2023 ssnc Goodwill And Intangible Assets Reporting Units Description
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As of December 31, 2023 and 2022, we have two reporting units, one is our health business and the other includes the rest of our operations.
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CY2022 us-gaap Number Of Reporting Units
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CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
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CY2023 us-gaap Concentration Risk Credit Risk
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R95.htm Edgar Link pending
R96.htm Edgar Link pending
R97.htm Edgar Link pending
R98.htm Edgar Link pending
R99.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
ssnc-20231231.htm Edgar Link pending
ssnc-20231231.xsd Edgar Link pending
ssnc-ex10_30.htm Edgar Link pending
ssnc-ex10_31.htm Edgar Link pending
ssnc-ex10_32.htm Edgar Link pending
ssnc-ex19.htm Edgar Link pending
ssnc-ex21.htm Edgar Link pending
ssnc-ex23_1.htm Edgar Link pending
ssnc-ex31_1.htm Edgar Link pending
ssnc-ex31_2.htm Edgar Link pending
ssnc-ex32.htm Edgar Link pending
ssnc-ex97.htm Edgar Link pending
ssnc-20231231_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable