2024 Q2 Form 10-Q Financial Statement

#000155837024005841 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $3.979B $3.967B
YoY Change -0.48% -4.64%
Cost Of Revenue $2.593B $2.604B
YoY Change -3.93% -9.46%
Gross Profit $1.386B $1.363B
YoY Change 6.7% 6.15%
Gross Profit Margin 34.83% 34.36%
Selling, General & Admin $431.0M $444.0M
YoY Change 0.0% 2.07%
% of Gross Profit 31.1% 32.58%
Research & Development $189.0M $184.0M
YoY Change 7.39% -0.54%
% of Gross Profit 13.64% 13.5%
Depreciation & Amortization $208.0M $192.0M
YoY Change 4.0% -7.25%
% of Gross Profit 15.01% 14.09%
Operating Expenses $620.0M $628.0M
YoY Change 1.97% 44.37%
Operating Profit $766.0M $735.0M
YoY Change 10.85% 36.87%
Interest Expense $2.000M $0.00
YoY Change -200.0% -100.0%
% of Operating Profit 0.26% 0.0%
Other Income/Expense, Net -$3.000M -$5.000M
YoY Change -25.0% 25.0%
Pretax Income $754.0M $687.0M
YoY Change 20.83% 30.86%
Income Tax $181.0M $146.0M
% Of Pretax Income 24.01% 21.25%
Net Earnings $573.0M $541.0M
YoY Change 8.52% 24.94%
Net Earnings / Revenue 14.4% 13.64%
Basic Earnings Per Share $1.87 $1.76
Diluted Earnings Per Share $1.86 $1.75
COMMON SHARES
Basic Shares Outstanding 306.2M 308.8M
Diluted Shares Outstanding 308.0M 310.0M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.469B $1.176B
YoY Change 29.89% 29.94%
Cash & Equivalents $1.469B $1.176B
Short-Term Investments
Other Short-Term Assets $686.0M $710.0M
YoY Change -4.59% 5.19%
Inventory $2.669B $2.744B
Prepaid Expenses
Receivables $2.889B $2.874B
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.713B $7.504B
YoY Change 0.84% 0.87%
LONG-TERM ASSETS
Property, Plant & Equipment $3.758B $3.799B
YoY Change -0.61% -0.5%
Goodwill $5.664B $5.678B
YoY Change 2.46% 2.73%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.586B $4.623B
YoY Change 30.99% 488.17%
Total Long-Term Assets $15.19B $15.32B
YoY Change 8.06% 9.03%
TOTAL ASSETS
Total Short-Term Assets $7.713B $7.504B
Total Long-Term Assets $15.19B $15.32B
Total Assets $22.90B $22.82B
YoY Change 5.52% 6.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.662B $1.598B
YoY Change 2.85% -4.77%
Accrued Expenses $2.206B $2.324B
YoY Change -6.17% -4.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.249B $1.235B
YoY Change 329.21% 331.82%
Total Short-Term Liabilities $5.117B $5.163B
YoY Change 20.17% 17.53%
LONG-TERM LIABILITIES
Long-Term Debt $2.953B $2.961B
YoY Change -24.57% -24.39%
Other Long-Term Liabilities $1.887B $1.954B
YoY Change 1.4% 149.87%
Total Long-Term Liabilities $4.840B $4.915B
YoY Change -16.2% 4.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.117B $5.163B
Total Long-Term Liabilities $4.840B $4.915B
Total Liabilities $10.27B $10.38B
YoY Change -0.83% 0.11%
SHAREHOLDERS EQUITY
Retained Earnings $14.25B $13.69B
YoY Change 15.2% 15.77%
Common Stock $139.0M $139.0M
YoY Change -2.11% -2.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.63B $12.45B
YoY Change
Total Liabilities & Shareholders Equity $22.90B $22.82B
YoY Change 5.52% 6.21%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $573.0M $541.0M
YoY Change 8.52% 24.94%
Depreciation, Depletion And Amortization $208.0M $192.0M
YoY Change 4.0% -7.25%
Cash From Operating Activities $1.006B $710.0M
YoY Change 29.14% 11.99%
INVESTING ACTIVITIES
Capital Expenditures $149.0M $167.0M
YoY Change -10.24% -11.64%
Acquisitions
YoY Change
Other Investing Activities $32.00M $8.000M
YoY Change -1166.67% -84.0%
Cash From Investing Activities -$117.0M -$159.0M
YoY Change -30.77% 14.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -591.0M -539.0M
YoY Change 55.53% 40.0%
NET CHANGE
Cash From Operating Activities 1.006B 710.0M
Cash From Investing Activities -117.0M -159.0M
Cash From Financing Activities -591.0M -539.0M
Net Change In Cash 298.0M 12.00M
YoY Change 29.57% -89.09%
FREE CASH FLOW
Cash From Operating Activities $1.006B $710.0M
Capital Expenditures $149.0M $167.0M
Free Cash Flow $857.0M $543.0M
YoY Change 39.8% 22.02%

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CY2024Q1 tel Swiss Law Capital Band Maximum Percentage Of Existing Authorized Share Capital Available For New Authorizations Of Share Capital
SwissLawCapitalBandMaximumPercentageOfExistingAuthorizedShareCapitalAvailableForNewAuthorizationsOfShareCapital
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CY2024Q1 us-gaap Supplier Finance Program Obligation
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tel Duration Of Income Tax Expense Benefit Relating To Tax Credit Obtained By Swiss Subsidiary
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tel Income Tax Expense Benefits Associated With Tax Impacts Of Certain Legal Entity Restructuring
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tel Non Income Tax Expense Related To Legal Entity Restructuring
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CY2024Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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CY2024Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2024Q1 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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CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CommonStockDividendsPerShareCashPaid
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us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.12
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.60
CY2024Q1 tel Number Of Quarterly Dividend Installments
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4
CY2024Q1 tel Dividends Per Share Payable Installment
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CY2024Q1 us-gaap Dividends Payable Current And Noncurrent
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tel Stock Repurchase Program Increase In Authorized Amount
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us-gaap Treasury Stock Shares Acquired
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CY2024Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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1400000000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
180000000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
20000000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
692000000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
537000000
us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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