2022 Q1 Form 10-Q Financial Statement

#000000412722000010 Filed on February 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $1.510B $1.510B
YoY Change 57.86% 97.1%
Cost Of Revenue $795.7M $748.3M
YoY Change 59.81% 91.63%
Gross Profit $714.7M $761.7M
YoY Change 55.74% 102.8%
Gross Profit Margin 47.32% 50.44%
Selling, General & Admin $82.00M $66.60M
YoY Change 31.62% 13.65%
% of Gross Profit 11.47% 8.74%
Research & Development $151.1M $121.6M
YoY Change 19.73% 7.42%
% of Gross Profit 21.14% 15.96%
Depreciation & Amortization $94.20M $78.40M
YoY Change 3.86% -14.6%
% of Gross Profit 13.18% 10.29%
Operating Expenses $268.8M $191.0M
YoY Change 40.51% 8.46%
Operating Profit $445.9M $570.7M
YoY Change 66.63% 186.07%
Interest Expense $11.00M $0.00
YoY Change
% of Operating Profit 2.47% 0.0%
Other Income/Expense, Net $1.200M $200.0K
YoY Change -180.0% -94.29%
Pretax Income $436.1M $570.9M
YoY Change 63.89% 181.23%
Income Tax $36.20M $61.60M
% Of Pretax Income 8.3% 10.79%
Net Earnings $399.9M $509.3M
YoY Change 61.97% 181.23%
Net Earnings / Revenue 26.48% 33.73%
Basic Earnings Per Share $2.42 $3.08
Diluted Earnings Per Share $2.40 $3.05
COMMON SHARES
Basic Shares Outstanding 164.0M shares 165.1M shares 165.4M shares
Diluted Shares Outstanding 166.4M shares 167.0M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.020B $1.019B
YoY Change 4.65% -5.15%
Cash & Equivalents $882.9M $617.2M
Short-Term Investments $137.2M $401.4M
Other Short-Term Assets $204.1M $148.2M
YoY Change 14.41% 13.65%
Inventory $885.0M $718.5M
Prepaid Expenses $106.7M
Receivables $756.2M $689.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.865B $2.575B
YoY Change 23.64% 15.96%
LONG-TERM ASSETS
Property, Plant & Equipment $1.502B $1.305B
YoY Change 20.18% 8.07%
Goodwill $2.177B $1.190B
YoY Change 82.95% 0.0%
Intangibles $1.699B $46.40M
YoY Change 3074.95% -45.67%
Long-Term Investments $7.100M $700.0K
YoY Change 36.54% -97.95%
Other Assets $55.70M $73.50M
YoY Change -17.97% 122.73%
Total Long-Term Assets $5.725B $2.845B
YoY Change 105.27% 3.02%
TOTAL ASSETS
Total Short-Term Assets $2.865B $2.575B
Total Long-Term Assets $5.725B $2.845B
Total Assets $8.591B $5.420B
YoY Change 68.22% 8.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $236.0M $264.6M
YoY Change 4.01% 56.11%
Accrued Expenses $288.0M $115.8M
YoY Change 103.25% 16.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $658.5M $507.6M
YoY Change 46.86% 40.14%
LONG-TERM LIABILITIES
Long-Term Debt $2.236B $0.00
YoY Change
Other Long-Term Liabilities $32.20M $31.80M
YoY Change 0.31% -0.63%
Total Long-Term Liabilities $32.20M $31.80M
YoY Change 0.31% -0.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $658.5M $507.6M
Total Long-Term Liabilities $32.20M $31.80M
Total Liabilities $3.294B $1.005B
YoY Change 249.45% 19.76%
SHAREHOLDERS EQUITY
Retained Earnings $5.186B $5.247B
YoY Change 7.58% 14.04%
Common Stock $120.9M $3.513B
YoY Change -96.49% 4.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.700M $4.337B
YoY Change -99.96% 14.14%
Treasury Stock Shares
Shareholders Equity $5.334B $4.415B
YoY Change
Total Liabilities & Shareholders Equity $8.591B $5.420B
YoY Change 68.22% 8.79%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income $399.9M $509.3M
YoY Change 61.97% 181.23%
Depreciation, Depletion And Amortization $94.20M $78.40M
YoY Change 3.86% -14.6%
Cash From Operating Activities $581.7M $485.1M
YoY Change 117.87% 73.0%
INVESTING ACTIVITIES
Capital Expenditures $95.80M $118.9M
YoY Change -164.99% -295.24%
Acquisitions
YoY Change
Other Investing Activities -$2.762B $12.20M
YoY Change 6323.95% -88.37%
Cash From Investing Activities -$98.00M -$111.0M
YoY Change -48.53% -352.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $269.4M $195.6M
YoY Change
Debt Paid & Issued, Net $50.00M $0.00
YoY Change
Cash From Financing Activities -$490.2M -$323.6M
YoY Change 62.75% -4.88%
NET CHANGE
Cash From Operating Activities $581.7M $485.1M
Cash From Investing Activities -$98.00M -$111.0M
Cash From Financing Activities -$490.2M -$323.6M
Net Change In Cash -$6.500M $50.50M
YoY Change -97.11% -419.62%
FREE CASH FLOW
Cash From Operating Activities $581.7M $485.1M
Capital Expenditures $95.80M $118.9M
Free Cash Flow $485.9M $366.2M
YoY Change 17.25% 7.3%

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CY2021Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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42000000.0 USD
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37400000 USD
CY2021Q1 us-gaap Stock Repurchased During Period Value
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CY2021Q1 us-gaap Dividends
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100000 USD
CY2021Q1 us-gaap Stockholders Equity
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4414900000 USD
CY2021Q4 us-gaap Fiscal Period
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The Company’s fiscal year ends on the Friday closest to September 30. Fiscal 2022 consists of 52 weeks and ends on September 30, 2022. Fiscal 2021 consisted of 53 weeks and ended on October 1, 2021. The three months ended December 31, 2021, and January 1, 2021, each consisted of 13 weeks, respectively.
CY2021Q4 us-gaap Revenues
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CY2021Q1 us-gaap Revenues
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CY2021Q4 swks Debt Securities Availableforsale Noncurrent Maximum Contractual Maturity
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P2Y
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60700000 USD
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
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CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2021Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
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CY2021Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
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2300900000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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191900000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
189000000.0 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
137600000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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117600000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2021Q4 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
18400000 USD
CY2021Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
41000000.0 USD
CY2021Q4 us-gaap Current Foreign Tax Expense Benefit
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17800000 USD
CY2021Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
20600000 USD
CY2021Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
36200000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
61600000 USD
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.083
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.108
CY2021Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021Q4 us-gaap Treasury Stock Value Acquired Par Value Method
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269400000 USD
CY2021Q4 us-gaap Treasury Stock Shares Acquired
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1700000 shares
CY2021Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
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159.56
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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1700000000 USD
CY2021Q1 us-gaap Treasury Stock Value Acquired Par Value Method
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195600000 USD
CY2021Q1 us-gaap Treasury Stock Shares Acquired
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1400000 shares
CY2021Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
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138.85
CY2021Q4 us-gaap Common Stock Dividends Per Share Declared
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0.56
CY2021Q4 us-gaap Payments Of Dividends Common Stock
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92500000 USD
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
CY2021Q4 us-gaap Allocated Share Based Compensation Expense
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50400000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
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44500000 USD
CY2021Q4 us-gaap Net Income Loss
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399900000 USD
CY2021Q1 us-gaap Net Income Loss
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509300000 USD
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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165100000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
165400000 shares
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1300000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1600000 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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166400000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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167000000.0 shares
CY2021Q4 us-gaap Earnings Per Share Basic
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2.42
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.08
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.40
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.05
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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200000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2021Q4 us-gaap Accrued Income Taxes Current
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105800000 USD
CY2021Q4 us-gaap Accrued Income Taxes Current
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88600000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
29700000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
33000000.0 USD
CY2021Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
132800000 USD
CY2021Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
119700000 USD
CY2021Q4 swks Other Miscellaneous Current Liabilities
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44300000 USD
CY2021Q4 swks Other Miscellaneous Current Liabilities
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45900000 USD
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
312600000 USD
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
287200000 USD
CY2021Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1700000 shares
CY2021Q4 us-gaap Payments For Repurchase Of Common Stock
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269400000 USD
CY2021Q4 us-gaap Payments To Acquire Property Plant And Equipment
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95800000 USD
CY2021Q4 us-gaap Payments Of Ordinary Dividends
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92500000 USD
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1510400000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1510000000 USD
CY2021Q4 us-gaap Gross Profit
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714700000 USD
CY2021Q1 us-gaap Gross Profit
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761700000 USD
CY2021Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
151100000 USD
CY2021Q4 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
17800000 USD
CY2021Q1 us-gaap Research And Development Expense
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121600000 USD
CY2021Q4 us-gaap Selling General And Administrative Expense
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82000000.0 USD
CY2021Q1 us-gaap Selling General And Administrative Expense
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66600000 USD
CY2021Q4 us-gaap Interest Expense
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11000000.0 USD
CY2021Q1 us-gaap Interest Expense
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0 USD
CY2021Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
36200000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
61600000 USD
CY2021Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
36200000 USD
CY2021Q4 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
18400000 USD

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