2023 Q3 Form 10-K Financial Statement

#000155837023015226 Filed on August 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $276.9M $301.3M $1.137B
YoY Change 2.7% 4.54% 2.81%
Cost Of Revenue $91.74M $96.62M $366.9M
YoY Change 1.87% 9.95% 5.09%
Gross Profit $185.2M $204.7M $769.8M
YoY Change 3.12% 2.17% 1.76%
Gross Profit Margin 66.87% 67.93% 67.72%
Selling, General & Admin $105.3M $86.35M $378.4M
YoY Change 5.99% -10.31% 1.51%
% of Gross Profit 56.88% 42.19% 49.15%
Research & Development $24.00M $23.42M $92.49M
YoY Change 0.4% 1.17% 6.14%
% of Gross Profit 12.96% 11.44% 12.01%
Depreciation & Amortization $28.54M $26.92M $107.2M
YoY Change 7.13% 4.09% 6.1%
% of Gross Profit 15.41% 13.15% 13.93%
Operating Expenses $129.3M $109.8M $470.9M
YoY Change 4.91% -8.08% 2.38%
Operating Profit $55.86M $94.93M $298.9M
YoY Change -0.81% 17.3% 0.79%
Interest Expense $4.893M -$2.667M $11.22M
YoY Change 29.1% -1.84% -0.83%
% of Operating Profit 8.76% -2.81% 3.75%
Other Income/Expense, Net -$6.304M -$3.542M $39.72M
YoY Change -113.3% -396.15% 728.09%
Pretax Income $49.56M $88.32M $338.7M
YoY Change -52.22% 11.72% 12.37%
Income Tax -$1.435M $12.83M $53.22M
% Of Pretax Income -2.9% 14.53% 15.71%
Net Earnings $50.99M $75.47M $285.3M
YoY Change -43.06% 22.66% 4.86%
Net Earnings / Revenue 18.41% 25.05% 25.1%
Basic Earnings Per Share $0.32 $1.81
Diluted Earnings Per Share $0.31 $0.47 $1.76
COMMON SHARES
Basic Shares Outstanding 158.2M 157.4M 157.2M
Diluted Shares Outstanding 161.9M 161.9M

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $148.7M $204.3M $204.3M
YoY Change -26.78% -17.29% -17.29%
Cash & Equivalents $148.7M $180.6M $180.6M
Short-Term Investments $0.00 $23.74M $23.74M
Other Short-Term Assets $52.16M $27.07M $27.07M
YoY Change 110.57% 18.42% 18.42%
Inventory $186.1M $171.6M $171.6M
Prepaid Expenses
Receivables $204.6M $218.5M $218.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $591.5M $621.5M $621.5M
YoY Change 7.15% 2.63% 2.63%
LONG-TERM ASSETS
Property, Plant & Equipment $231.7M $226.2M $324.5M
YoY Change 3.38% 1.33% 12.37%
Goodwill $969.4M $872.7M
YoY Change 12.01% 6.16%
Intangibles $579.0M $534.6M
YoY Change -1.12% 0.59%
Long-Term Investments $251.6M $255.9M
YoY Change 923.43%
Other Assets $281.6M $285.3M $285.3M
YoY Change 422.45% 509.26% 509.26%
Total Long-Term Assets $2.164B $2.017B $2.017B
YoY Change 20.3% 19.41% 19.41%
TOTAL ASSETS
Total Short-Term Assets $591.5M $621.5M $621.5M
Total Long-Term Assets $2.164B $2.017B $2.017B
Total Assets $2.755B $2.639B $2.639B
YoY Change 17.21% 14.99% 14.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.08M $25.68M $77.31M
YoY Change -7.85% -24.17% 128.28%
Accrued Expenses $15.94M $14.88M $11.20M
YoY Change 15.57% -16.81% -87.8%
Deferred Revenue $24.52M $23.07M
YoY Change 11.14% -1.44%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $127.8M $128.5M $128.5M
YoY Change -7.18% -26.99% -26.99%
LONG-TERM LIABILITIES
Long-Term Debt $440.0M $350.0M $350.0M
YoY Change 66.25% 43.79% 43.79%
Other Long-Term Liabilities $9.394M $10.92M $104.7M
YoY Change -18.32% -10.79% 38.89%
Total Long-Term Liabilities $9.394M $10.92M $454.7M
YoY Change -18.32% -10.79% 42.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $127.8M $128.5M $128.5M
Total Long-Term Liabilities $9.394M $10.92M $454.7M
Total Liabilities $137.1M $139.4M $672.2M
YoY Change -8.03% -25.94% 13.35%
SHAREHOLDERS EQUITY
Retained Earnings $1.328B $1.309B
YoY Change 14.2% 16.61%
Common Stock $748.2M $723.1M
YoY Change 9.96% 10.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.998B $1.967B $1.967B
YoY Change
Total Liabilities & Shareholders Equity $2.755B $2.639B $2.639B
YoY Change 17.21% 14.99% 14.99%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income $50.99M $75.47M $285.3M
YoY Change -43.06% 22.66% 4.86%
Depreciation, Depletion And Amortization $28.54M $26.92M $107.2M
YoY Change 7.13% 4.09% 6.1%
Cash From Operating Activities $59.38M $83.39M $254.4M
YoY Change 5.89% -18.81% -21.79%
INVESTING ACTIVITIES
Capital Expenditures $13.59M $10.83M $38.24M
YoY Change 42.24% -179.82% -14.84%
Acquisitions $166.4M $101.2M
YoY Change 64.48%
Other Investing Activities -$140.5M $6.075M -$227.4M
YoY Change 1286.7% -221.5% 337.8%
Cash From Investing Activities -$154.1M -$4.756M -$265.6M
YoY Change 682.76% -74.39% 174.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.25M
YoY Change -93.63%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 71.51M -24.22M 22.62M
YoY Change -324.84% -63.15% -109.31%
NET CHANGE
Cash From Operating Activities 59.38M 83.39M 254.4M
Cash From Investing Activities -154.1M -4.756M -265.6M
Cash From Financing Activities 71.51M -24.22M 22.62M
Net Change In Cash -31.91M 54.41M 11.36M
YoY Change 336.5% 195.43% -142.83%
FREE CASH FLOW
Cash From Operating Activities $59.38M $83.39M $254.4M
Capital Expenditures $13.59M $10.83M $38.24M
Free Cash Flow $45.79M $72.56M $216.1M
YoY Change -1.58% -37.6% -22.9%

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992515000
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
923996000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
480570000
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
415174000
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FiniteLivedIntangibleAssetsNet
511945000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
508822000
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IndefiniteLivedIntangibleAssetsExcludingGoodwill
22700000
CY2022Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
22700000
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534645000
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
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531522000
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
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531522000
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
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615968000
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75600000
CY2023 tech Finitelived Intangible Assets Other Additions
FinitelivedIntangibleAssetsOtherAdditions
5710000
CY2022 tech Finitelived Intangible Assets Other Additions
FinitelivedIntangibleAssetsOtherAdditions
293000
CY2023 us-gaap Amortization Of Intangible Assets
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77491000
CY2022 us-gaap Amortization Of Intangible Assets
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74147000
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696000
CY2022 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
2029000
CY2022 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
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8563000
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
534645000
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
531522000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
75331000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
72056000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
68089000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
57920000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
54470000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
184079000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
511945000
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843067000
CY2022 us-gaap Goodwill Purchase Accounting Adjustments
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-4407000
CY2022 us-gaap Goodwill Impairment Loss
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8275000
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-8284000
CY2022Q2 us-gaap Goodwill
Goodwill
822101000
CY2023 us-gaap Goodwill Acquired During Period
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51257000
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
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-621000
CY2023Q2 us-gaap Goodwill
Goodwill
872737000
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255857000
CY2022Q2 us-gaap Equity Method Investments
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25000000
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16857000
CY2022Q2 us-gaap Derivative Assets
DerivativeAssets
11026000
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5387000
CY2022Q2 us-gaap Inventory Noncurrent
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5111000
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7201000
CY2022Q2 tech Assets Classified As Noncurrent Other
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5691000
CY2023Q2 us-gaap Other Assets Noncurrent
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285302000
CY2022Q2 us-gaap Other Assets Noncurrent
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46828000
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88428000
CY2022 us-gaap Income Taxes Paid Net
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30341000
CY2021 us-gaap Income Taxes Paid Net
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20952000
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8368000
CY2022 us-gaap Interest Paid Net
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11027000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
13576000
CY2023 tech Acquisition Related Liabilities
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12100000
CY2022 tech Acquisition Related Liabilities
AcquisitionRelatedLiabilities
20400000
CY2021 tech Acquisition Related Liabilities
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23600000
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4000000
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4400000
CY2023 us-gaap Operating Lease Cost
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15900000
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0.32
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CY2023 us-gaap Common Stock Dividends Per Share Declared
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0.32
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222000
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11199000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
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93766000
CY2023Q2 us-gaap Operating Lease Liability
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104965000
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P9Y3M29D
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14934000
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48103000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
15167000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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14957000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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15097000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12484000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12482000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
59715000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
129902000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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24937000
CY2023Q2 us-gaap Operating Lease Liability
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104965000
CY2023 us-gaap Treasury Stock Acquired Average Cost Per Share
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88.12
CY2022 us-gaap Stock Repurchased During Period Shares
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1576952
CY2022 us-gaap Treasury Stock Acquired Average Cost Per Share
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102.06
CY2021 us-gaap Stock Repurchased During Period Shares
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480000
CY2021 us-gaap Treasury Stock Acquired Average Cost Per Share
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89.95
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
28900000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
23500000
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
19300000
CY2023 us-gaap Profit Loss
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285442000
CY2022 us-gaap Profit Loss
ProfitLoss
263099000
CY2021 us-gaap Profit Loss
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139585000
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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179000
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-8952000
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-825000
CY2023 us-gaap Net Income Loss
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285263000
CY2022 us-gaap Net Income Loss
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272051000
CY2021 us-gaap Net Income Loss
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140410000
CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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70000
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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121000
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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86000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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285193000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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271930000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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140324000
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157179000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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156874000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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154986000
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CY2022 us-gaap Earnings Per Share Basic
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285442000
CY2022 us-gaap Profit Loss
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CY2021 us-gaap Profit Loss
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CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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272051000
CY2021 us-gaap Net Income Loss
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140410000
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70000
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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121000
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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86000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
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285193000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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271930000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
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140324000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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157179000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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156874000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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154986000
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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4676000
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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7240000
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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6946000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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161855000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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164114000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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161932000
CY2023 us-gaap Earnings Per Share Diluted
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1.76
CY2022 us-gaap Earnings Per Share Diluted
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1.66
CY2021 us-gaap Earnings Per Share Diluted
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0.87
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4500000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2800000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2400000
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0.0034
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0027
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0047
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0.30
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.36
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.27
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.33
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.25
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.30
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.028
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.044
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.006
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.026
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.002
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.007
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P4Y8M12D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y3M18D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y4M24D
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14435000
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35.07
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3051000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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69.44
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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109000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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53.58
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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28.13
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14868000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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43.16
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1390000
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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120.15
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539000
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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87.05
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
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2450000
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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33.61
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13269000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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51.20
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2351000
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93.81
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118000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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85.99
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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29.48
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13924000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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60.56
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843300000
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P3Y4M24D
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7057000
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31.61
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7797000
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36.99
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8641000
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44.76
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386700000
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P2Y4M24D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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29.53
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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