2023 Q1 Form 10-K Financial Statement

#000003989923000008 Filed on February 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $740.3M $917.1M $3.279B
YoY Change -4.37% 18.39% 9.63%
Cost Of Revenue $426.9M $432.6M $1.693B
YoY Change 3.76% 6.25% 5.91%
Gross Profit $313.4M $484.5M $1.586B
YoY Change -13.59% 31.85% 13.91%
Gross Profit Margin 42.33% 52.83% 48.37%
Selling, General & Admin $99.11M $125.9M $414.5M
YoY Change -2.8% 1.83% 4.56%
% of Gross Profit 31.62% 25.98% 26.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.63M $30.07M $61.20M
YoY Change -5.52% -6.1% -5.62%
% of Gross Profit 9.14% 6.21% 3.86%
Operating Expenses $99.11M $155.9M $414.5M
YoY Change -2.8% 0.2% 4.56%
Operating Profit $173.6M $328.5M $990.6M
YoY Change -17.01% 55.11% 23.49%
Interest Expense $42.91M -$44.29M $174.0M
YoY Change -1.64% -11.55% -6.26%
% of Operating Profit 24.72% -13.48% 17.57%
Other Income/Expense, Net -$37.73M $4.667M -$157.1M
YoY Change 25.31% 87.81% -16.69%
Pretax Income $135.8M $288.6M $833.6M
YoY Change -24.13% 78.34% 35.83%
Income Tax $31.82M $69.78M $202.4M
% Of Pretax Income 23.43% 24.18% 24.28%
Net Earnings $104.3M $218.5M $630.5M
YoY Change -22.3% 68.81% 32.19%
Net Earnings / Revenue 14.09% 23.82% 19.23%
Basic Earnings Per Share $0.46 $2.82
Diluted Earnings Per Share $0.46 $0.97 $2.81
COMMON SHARES
Basic Shares Outstanding 223.6M shares 223.3M shares 223.7M shares
Diluted Shares Outstanding 224.8M shares 224.5M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $683.2M $551.7M $551.7M
YoY Change 1477.2% 868.05% 868.05%
Cash & Equivalents $683.2M $551.7M $551.7M
Short-Term Investments
Other Short-Term Assets $68.49M $80.22M $80.22M
YoY Change -2.11% 10.15% 10.15%
Inventory
Prepaid Expenses
Receivables $637.4M $658.3M $658.3M
Other Receivables $10.91M $13.49M $13.49M
Total Short-Term Assets $1.400B $1.304B $1.304B
YoY Change 82.12% 65.53% 65.53%
LONG-TERM ASSETS
Property, Plant & Equipment $445.1M $457.1M $535.5M
YoY Change -2.67% -2.17% -3.42%
Goodwill $2.982B $2.982B
YoY Change 0.0% 0.0%
Intangibles $2.369B $2.382B
YoY Change -2.38% -2.45%
Long-Term Investments $16.93M $17.00M $37.16M
YoY Change -2.61% -22.66% -43.8%
Other Assets $21.69M $24.05M $75.20M
YoY Change -48.11% -12.23% -12.96%
Total Long-Term Assets $5.994B $6.025B $6.025B
YoY Change -1.49% -1.71% -1.71%
TOTAL ASSETS
Total Short-Term Assets $1.400B $1.304B $1.304B
Total Long-Term Assets $5.994B $6.025B $6.025B
Total Assets $7.394B $7.329B $7.329B
YoY Change 7.88% 5.94% 5.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $88.31M $76.21M $76.21M
YoY Change 1.53% 4.41% 4.41%
Accrued Expenses $127.0M $174.1M $174.1M
YoY Change -9.7% -9.42% -9.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $378.2M $391.0M $391.0M
YoY Change -0.42% 4.24% 4.24%
LONG-TERM LIABILITIES
Long-Term Debt $3.070B $3.069B $3.069B
YoY Change 0.11% -5.03% -5.03%
Other Long-Term Liabilities $69.05M $70.10M $223.3M
YoY Change -12.08% -11.38% -1.26%
Total Long-Term Liabilities $3.847B $3.849B $3.293B
YoY Change 0.21% -3.94% -4.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $378.2M $391.0M $391.0M
Total Long-Term Liabilities $3.847B $3.849B $3.293B
Total Liabilities $4.225B $4.240B $4.257B
YoY Change 0.16% -3.24% -3.2%
SHAREHOLDERS EQUITY
Retained Earnings $7.880B $7.898B
YoY Change 5.35% 5.88%
Common Stock $352.4M $352.4M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.151B $3.072B $3.072B
YoY Change
Total Liabilities & Shareholders Equity $7.394B $7.329B $7.329B
YoY Change 7.88% 5.94% 5.94%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $104.3M $218.5M $630.5M
YoY Change -22.3% 68.81% 32.19%
Depreciation, Depletion And Amortization $28.63M $30.07M $61.20M
YoY Change -5.52% -6.1% -5.62%
Cash From Operating Activities $170.4M $211.4M $812.2M
YoY Change -13.18% 32.98% 61.91%
INVESTING ACTIVITIES
Capital Expenditures $2.845M $15.81M $51.33M
YoY Change -48.63% -166.81% -18.62%
Acquisitions $1.150M $0.00
YoY Change -100.0%
Other Investing Activities -$127.0K $636.0K $101.0K
YoY Change -92.91% -362.81% -101.63%
Cash From Investing Activities -$4.122M -$15.17M -$51.23M
YoY Change -43.77% -36.53% -26.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$34.77M -21.24M -$266.2M
YoY Change -82.84% -83.58% -36.05%
NET CHANGE
Cash From Operating Activities $170.4M 211.4M $812.2M
Cash From Investing Activities -$4.122M -15.17M -$51.23M
Cash From Financing Activities -$34.77M -21.24M -$266.2M
Net Change In Cash $131.5M 175.0M $494.7M
YoY Change -1061.73% 2931.0% 2987.77%
FREE CASH FLOW
Cash From Operating Activities $170.4M $211.4M $812.2M
Capital Expenditures $2.845M $15.81M $51.33M
Free Cash Flow $167.5M $195.6M $760.8M
YoY Change -12.15% 7.1% 73.49%

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CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2020 us-gaap Profit Loss
ProfitLoss
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NetIncomeLossAttributableToNoncontrollingInterest
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2020 us-gaap Profit Loss
ProfitLoss
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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4463000 usd
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22574000 usd
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CY2022 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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17434000 usd
CY2021 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2022 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
20800000 usd
CY2021 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2021 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
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CY2022 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2021 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2020 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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OtherComprehensiveIncomeLossTax
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CY2021 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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CY2020 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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OtherComprehensiveIncomeLossNetOfTax
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ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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ComprehensiveIncomeNetOfTax
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ComprehensiveIncomeNetOfTax
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ProfitLoss
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ProfitLoss
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ProfitLoss
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Depreciation
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Depreciation
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59882000 usd
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AmortizationOfIntangibleAssets
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ShareBasedCompensation
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18308000 usd
CY2021 tgna Unrealized Gain Loss On Investments Net Of Impairment Charge
UnrealizedGainLossOnInvestmentsNetOfImpairmentCharge
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CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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IncomeLossFromEquityMethodInvestments
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IncomeLossFromEquityMethodInvestments
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IncomeLossFromEquityMethodInvestments
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3216000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2021 tgna Increase Decrease In Accrued Interests And Taxes
IncreaseDecreaseInAccruedInterestsAndTaxes
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1589000 usd
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1013000 usd
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36453000 usd
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812151000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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PaymentsToAcquirePropertyPlantAndEquipment
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ProceedsfromReimbursementofPropertyPlantandEquipment
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CY2021 tgna Proceedsfrom Reimbursementof Property Plantand Equipment
ProceedsfromReimbursementofPropertyPlantandEquipment
4942000 usd
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13180000 usd
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PaymentsToAcquireBusinessesNetOfCashAcquired
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PaymentsToAcquireBusinessesNetOfCashAcquired
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PaymentsToAcquireInvestments
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PaymentsToAcquireInvestments
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PaymentsToAcquireInvestments
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ProceedsFromSaleMaturityAndCollectionsOfInvestments
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ProceedsFromSaleOfABusinessAndOtherAssets
472000 usd
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ProceedsFromSaleOfABusinessAndOtherAssets
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CY2021 us-gaap Repayments Of Lines Of Credit
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CY2021 us-gaap Proceeds From Issuance Of Debt
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CY2022 tgna Payment Of Debt Issuance Costs And Premiums For Early Redemption Fees
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CY2021 tgna Payment Of Debt Issuance Costs And Premiums For Early Redemption Fees
PaymentOfDebtIssuanceCostsAndPremiumsForEarlyRedemptionFees
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CY2020 tgna Payment Of Debt Issuance Costs And Premiums For Early Redemption Fees
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CY2021 tgna Proceeds From Saleof Noncontrolling Interest Financing Activities
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CY2020 tgna Proceeds From Saleof Noncontrolling Interest Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
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<span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). In doing so, we are required to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates include, but are not limited to, evaluation of goodwill and other intangible assets for impairment, allocation of purchase price to assets and liabilities in business combinations</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">, fair value measurements, post-retirement benefit plans, income taxes including deferred tax assets, and contingencies.</span>
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Our customers generally submit payments monthly, generally within 60-90 days after the month that the service was provided.
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CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2022 tgna Gain Loss On Reimbursement Of Property Plant And Equipment
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CY2022 tgna Tangible Asset Impairment Charges Recoveries
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CY2021 tgna Tangible Asset Impairment Charges Recoveries
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CY2022 tgna Contract Termination And Other Costs
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CY2021 tgna Contract Termination And Other Costs
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CY2022 tgna Asset Impairment Charges Other Restructuring Related Gains Losses Operating
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CY2021 us-gaap Asset Impairment Charges
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CY2020 tgna Impairment Of Intangible Asset Indefinite Lived Excluding Goodwill Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag
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3000000 usd

Files In Submission

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