$STLD
STEEL DYNAMICS INC

2022 Q4 Form 10-Q Financial Statement

#000155837022015423 Filed on October 26, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $4.826B $5.652B
YoY Change -9.12% 11.07%
Cost Of Revenue $3.839B $4.187B
YoY Change 8.17% 20.06%
Gross Profit $987.5M $1.464B
YoY Change -43.95% -8.51%
Gross Profit Margin 20.46% 25.91%
Selling, General & Admin $221.8M $237.7M
YoY Change -31.86% -12.4%
% of Gross Profit 22.46% 16.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $102.2M $98.71M
YoY Change 18.5% 12.94%
% of Gross Profit 10.35% 6.74%
Operating Expenses $228.5M $244.6M
YoY Change -31.32% -12.2%
Operating Profit $759.0M $1.220B
YoY Change -46.89% -7.73%
Interest Expense -$23.86M -$25.35M
YoY Change 93.35% -299.52%
% of Operating Profit -3.14% -2.08%
Other Income/Expense, Net $23.26M $13.98M
YoY Change -392.91% -306.24%
Pretax Income $758.5M $1.208B
YoY Change -46.17% -7.22%
Income Tax $119.4M $290.0M
% Of Pretax Income 15.75% 24.0%
Net Earnings $634.9M $914.3M
YoY Change -41.78% -8.58%
Net Earnings / Revenue 13.15% 16.18%
Basic Earnings Per Share $5.07
Diluted Earnings Per Share $3.609M $5.034M
COMMON SHARES
Basic Shares Outstanding 175.6M 182.6M
Diluted Shares Outstanding 181.6M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.257B $2.004B
YoY Change 81.42% 82.87%
Cash & Equivalents $1.628B $1.420B
Short-Term Investments $628.2M $583.2M
Other Short-Term Assets $195.4M $99.21M
YoY Change -6.78% -4.7%
Inventory $3.130B $3.377B
Prepaid Expenses
Receivables $2.056B $2.334B
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.638B $7.813B
YoY Change 10.68% 30.49%
LONG-TERM ASSETS
Property, Plant & Equipment $5.374B $5.147B
YoY Change 13.1% 10.58%
Goodwill $502.1M $451.6M
YoY Change 10.63% -0.68%
Intangibles $267.5M $276.6M
YoY Change -9.43% -8.57%
Long-Term Investments
YoY Change
Other Assets $378.7M $359.5M
YoY Change 192.23% 162.35%
Total Long-Term Assets $6.522B $6.234B
YoY Change 15.84% 12.36%
TOTAL ASSETS
Total Short-Term Assets $7.638B $7.813B
Total Long-Term Assets $6.522B $6.234B
Total Assets $14.16B $14.05B
YoY Change 13.0% 21.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.017B $1.165B
YoY Change -19.7% -3.59%
Accrued Expenses $951.2M $902.2M
YoY Change 241.49% 248.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $57.33M $22.95M
YoY Change -41.0% -58.31%
Total Short-Term Liabilities $2.032B $2.131B
YoY Change -8.76% 3.75%
LONG-TERM LIABILITIES
Long-Term Debt $3.013B $3.012B
YoY Change 0.15% -0.23%
Other Long-Term Liabilities $129.5M $112.3M
YoY Change 7.87% -4.29%
Total Long-Term Liabilities $3.143B $3.124B
YoY Change 0.45% -0.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.032B $2.131B
Total Long-Term Liabilities $3.143B $3.124B
Total Liabilities $6.030B $6.077B
YoY Change -2.92% 2.76%
SHAREHOLDERS EQUITY
Retained Earnings $11.38B $10.80B
YoY Change 46.57% 60.67%
Common Stock $1.213B $1.221B
YoY Change -0.52% 0.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.130B $7.971B
YoY Change
Total Liabilities & Shareholders Equity $14.16B $14.05B
YoY Change 13.0% 21.77%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $634.9M $914.3M
YoY Change -41.78% -8.58%
Depreciation, Depletion And Amortization $102.2M $98.71M
YoY Change 18.5% 12.94%
Cash From Operating Activities $1.143B $1.496B
YoY Change 57.95% 137.18%
INVESTING ACTIVITIES
Capital Expenditures -$344.2M -$241.2M
YoY Change 68.28% -212.39%
Acquisitions
YoY Change
Other Investing Activities -$124.7M -$276.9M
YoY Change -3616.22% 26942.87%
Cash From Investing Activities -$468.9M -$518.1M
YoY Change 133.28% 142.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -466.6M -564.6M
YoY Change 24.52% 29.72%
NET CHANGE
Cash From Operating Activities 1.143B 1.496B
Cash From Investing Activities -468.9M -518.1M
Cash From Financing Activities -466.6M -564.6M
Net Change In Cash 207.9M 413.4M
YoY Change 40.33% -2391.26%
FREE CASH FLOW
Cash From Operating Activities $1.143B $1.496B
Capital Expenditures -$344.2M -$241.2M
Free Cash Flow $1.488B $1.737B
YoY Change 60.23% 317.45%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">These consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States, and accordingly, include amounts that require management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the notes thereto. Significant items subject to such estimates and assumptions include the carrying value of property, plant and equipment, intangible assets, and goodwill; valuation allowances for trade receivables, inventories and deferred income tax assets; unrecognized tax benefits; potential environmental liabilities; and litigation claims and settlements. Actual results may differ from these estimates and assumptions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In the opinion of management, these financial statements reflect all normal recurring adjustments necessary for a fair presentation of the interim period results. These consolidated financial statements and notes should be read in conjunction with the audited financial statements and notes thereto included in the company’s Annual Report on Form 10-K for the year ended December 31, 2021.</p>
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