$SWKS
SKYWORKS SOLUTIONS, INC.

2021 Q2 Form 10-Q Financial Statement

#000000412721000029 Filed on April 30, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q1
Revenue $1.172B $766.1M
YoY Change 59.04% -5.47%
Cost Of Revenue $593.4M $390.5M
YoY Change 47.36% -4.8%
Gross Profit $578.4M $375.6M
YoY Change 73.12% -6.15%
Gross Profit Margin 49.36% 49.03%
Selling, General & Admin $70.20M $58.60M
YoY Change 27.64% 22.34%
% of Gross Profit 12.14% 15.6%
Research & Development $130.7M $113.2M
YoY Change 11.71% 5.3%
% of Gross Profit 22.6% 30.14%
Depreciation & Amortization $89.30M $91.80M
YoY Change -1.43% -0.22%
% of Gross Profit 15.44% 24.44%
Operating Expenses $203.7M $176.1M
YoY Change 9.16% 8.3%
Operating Profit $374.7M $199.5M
YoY Change 154.03% -16.04%
Interest Expense $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $800.0K $3.500M
YoY Change -122.86% -5.41%
Pretax Income $375.5M $203.0M
YoY Change 160.76% -15.87%
Income Tax $50.50M $21.90M
% Of Pretax Income 13.45% 10.79%
Net Earnings $325.0M $181.1M
YoY Change 150.58% -15.37%
Net Earnings / Revenue 27.74% 23.64%
Basic Earnings Per Share $1.97 $1.07
Diluted Earnings Per Share $1.95 $1.06
COMMON SHARES
Basic Shares Outstanding 165.0M shares 170.0M shares
Diluted Shares Outstanding 166.8M shares 171.1M shares

Balance Sheet

Concept 2021 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.420B $1.074B
YoY Change 24.71% 12.17%
Cash & Equivalents $1.060B $912.4M
Short-Term Investments $359.7M $161.5M
Other Short-Term Assets $146.3M $130.4M
YoY Change -5.49% 25.51%
Inventory $739.8M $648.9M
Prepaid Expenses
Receivables $499.0M $367.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.805B $2.221B
YoY Change 19.99% 2.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.397B $1.208B
YoY Change 15.72% 3.26%
Goodwill $1.190B $1.190B
YoY Change 0.0% 0.0%
Intangibles $39.10M $85.40M
YoY Change -37.84% -34.26%
Long-Term Investments $4.000M $34.10M
YoY Change -83.4% 0.59%
Other Assets $73.20M $33.00M
YoY Change 103.33% 0.61%
Total Long-Term Assets $2.930B $2.761B
YoY Change 7.12% 5.98%
TOTAL ASSETS
Total Short-Term Assets $2.805B $2.221B
Total Long-Term Assets $2.930B $2.761B
Total Assets $5.734B $4.982B
YoY Change 13.05% 4.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $276.2M $169.5M
YoY Change 37.48% 0.95%
Accrued Expenses $134.2M $99.10M
YoY Change 13.15% 40.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $538.4M $362.2M
YoY Change 34.23% 7.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $31.20M $32.00M
YoY Change -4.0% 4.58%
Total Long-Term Liabilities $31.20M $32.00M
YoY Change -4.0% 4.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $538.4M $362.2M
Total Long-Term Liabilities $31.20M $32.00M
Total Liabilities $1.022B $839.1M
YoY Change 14.84% 22.57%
SHAREHOLDERS EQUITY
Retained Earnings $5.489B $4.601B
YoY Change 17.87% 12.25%
Common Stock $3.572B $3.349B
YoY Change 5.25% 5.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.341B $3.800B
YoY Change 12.44% 19.52%
Treasury Stock Shares
Shareholders Equity $4.712B $4.143B
YoY Change
Total Liabilities & Shareholders Equity $5.734B $4.982B
YoY Change 13.05% 4.54%

Cashflow Statement

Concept 2021 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $325.0M $181.1M
YoY Change 150.58% -15.37%
Depreciation, Depletion And Amortization $89.30M $91.80M
YoY Change -1.43% -0.22%
Cash From Operating Activities $615.7M $280.4M
YoY Change 138.0% 45.97%
INVESTING ACTIVITIES
Capital Expenditures -$142.5M -$60.90M
YoY Change 80.38% -44.43%
Acquisitions
YoY Change
Other Investing Activities $38.60M $104.9M
YoY Change -121.99% -166.18%
Cash From Investing Activities -$103.9M $44.00M
YoY Change -59.17% -116.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -69.10M -340.2M
YoY Change -44.85% 75.9%
NET CHANGE
Cash From Operating Activities 615.7M 280.4M
Cash From Investing Activities -103.9M 44.00M
Cash From Financing Activities -69.10M -340.2M
Net Change In Cash 442.7M -15.80M
YoY Change -465.57% -94.14%
FREE CASH FLOW
Cash From Operating Activities $615.7M $280.4M
Capital Expenditures -$142.5M -$60.90M
Free Cash Flow $758.2M $341.3M
YoY Change 124.52% 13.13%

Facts In Submission

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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Fiscal Period
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The Company’s fiscal year ends on the Friday closest to September 30. Fiscal 2021 consists of 52 weeks and ends on October 1, 2021. Fiscal 2020 consisted of 53 weeks and ended on October 2, 2020. The three and six months ended April 2, 2021, and March 27, 2020, each consisted of 13 weeks and 26 weeks, respectively.
dei Document Period End Date
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2021-04-02
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2021-04-02
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2021-04-02
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us-gaap Revenues
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2021-04-02
dei Document Period End Date
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2021-04-02
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P2Y
dei Document Period End Date
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2021-04-02
dei Document Period End Date
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2021-04-02
dei Document Period End Date
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2021-04-02
CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
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CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
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CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2021Q2 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
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CY2020Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
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CY2021Q2 us-gaap Inventory Net
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CY2020Q4 us-gaap Inventory Net
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2021-04-02
CY2021Q2 us-gaap Property Plant And Equipment Gross
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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2021-04-02
dei Document Period End Date
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2021-04-02
dei Document Period End Date
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2021-04-02
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CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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11000000.0 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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11100000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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6700000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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2900000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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2021-04-02
dei Document Period End Date
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2021-04-02
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us-gaap Current Federal Tax Expense Benefit
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us-gaap Current Federal Tax Expense Benefit
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CY2021Q2 us-gaap Current Foreign Tax Expense Benefit
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CY2020Q1 us-gaap Current Foreign Tax Expense Benefit
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us-gaap Current Foreign Tax Expense Benefit
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us-gaap Current Foreign Tax Expense Benefit
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CY2021Q2 us-gaap Income Tax Expense Benefit
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CY2020Q1 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 Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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2021-04-02
CY2021Q2 us-gaap Income Tax Holiday Termination Date
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September 30, 2030
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2021-04-02
dei Document Period End Date
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2021-04-02
us-gaap Treasury Stock Value Acquired Par Value Method
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195600000 USD
us-gaap Treasury Stock Shares Acquired
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1400000 shares
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2021-04-02
CY2020Q1 us-gaap Treasury Stock Value Acquired Par Value Method
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283800000 USD
CY2020Q1 us-gaap Treasury Stock Shares Acquired
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3200000 shares
CY2020Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
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87.61
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358000000.0 USD
us-gaap Treasury Stock Shares Acquired
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4000000.0 shares
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89.92
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
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0.50
CY2021Q1 us-gaap Payments Of Dividends Common Stock
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83000000.0 USD
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0.44
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0.88
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150000000.0 USD
dei Document Period End Date
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2021-04-02
dei Document Period End Date
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2021-04-02
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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CY2020Q1 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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2021-04-02
dei Document Period End Date
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2021-04-02
CY2021Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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170000000.0 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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2021-04-02
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1200000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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166900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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171300000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
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1.97
us-gaap Earnings Per Share Basic
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5.05
us-gaap Earnings Per Share Basic
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2.58
CY2021Q2 us-gaap Earnings Per Share Diluted
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1.95
CY2020Q1 us-gaap Earnings Per Share Diluted
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1.06
us-gaap Earnings Per Share Diluted
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5.00
us-gaap Earnings Per Share Diluted
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2.56
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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500000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2021Q2 us-gaap Accrued Income Taxes Current
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2021-04-02
CY2020Q4 us-gaap Accrued Income Taxes Current
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CY2021Q2 us-gaap Operating Lease Liability Current
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31300000 USD
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28200000 USD
CY2021Q2 us-gaap Contract With Customer Refund Liability
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29500000 USD
CY2020Q4 us-gaap Contract With Customer Refund Liability
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20300000 USD
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24900000 USD
CY2020Q4 swks Other Miscellaneous Current Liabilities
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28300000 USD
CY2021Q2 us-gaap Other Liabilities Current
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CY2020Q4 us-gaap Other Liabilities Current
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108000000.0 USD
dei Document Period End Date
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2021-04-02
dei Document Period End Date
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2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
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2021-04-02
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
259800000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1400000 shares
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
195600000 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
165600000 USD
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1171800000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
766100000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2681800000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1662200000 USD
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
CY2021Q2 us-gaap Gross Profit
GrossProfit
578400000 USD
CY2020Q1 us-gaap Gross Profit
GrossProfit
375600000 USD
us-gaap Gross Profit
GrossProfit
819900000 USD
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
130700000 USD
CY2020Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
113200000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
252300000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
220800000 USD
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
CY2021Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
70200000 USD
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
58600000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
136900000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
114000000.0 USD
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2800000 USD
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
50500000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21900000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
112000000.0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
43600000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
50500000 USD
CY2021Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
36400000 USD
CY2021Q2 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
14100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
112000000.0 USD
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
77400000 USD
us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
34600000 USD
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02
dei Document Period End Date
DocumentPeriodEndDate
2021-04-02

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