2022 Q3 Form 10-Q Financial Statement

#000007031822000041 Filed on July 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $4.801B $4.638B $4.856B
YoY Change -1.9% -6.38% -1.2%
Cost Of Revenue $817.0M $811.0M $838.0M
YoY Change -1.21% -5.59% 1.7%
Gross Profit $3.984B $3.827B $4.018B
YoY Change -2.04% -6.54% -1.78%
Gross Profit Margin 82.98% 82.51% 82.74%
Selling, General & Admin $2.230B $2.126B $2.188B
YoY Change 0.95% -6.75% -1.66%
% of Gross Profit 55.97% 55.55% 54.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $209.0M $216.0M $201.0M
YoY Change 0.0% -2.26% -13.73%
% of Gross Profit 5.25% 5.64% 5.0%
Operating Expenses $3.457B $3.348B $3.418B
YoY Change -0.35% -5.82% -3.15%
Operating Profit $527.0M $553.0M $600.0M
YoY Change -48.03% -5.63% 6.76%
Interest Expense -$171.0M $222.0M -$144.0M
YoY Change -175.33% -5.53% -18.18%
% of Operating Profit -32.45% 40.14% -24.0%
Other Income/Expense, Net $6.000M $0.00 -$2.000M
YoY Change -14.29% -100.0% 0.0%
Pretax Income $380.0M $265.0M $528.0M
YoY Change -50.9% -16.93% -21.89%
Income Tax $112.0M $86.00M $108.0M
% Of Pretax Income 29.47% 32.45% 20.45%
Net Earnings $131.0M $179.0M $249.0M
YoY Change -77.34% -30.35% -54.4%
Net Earnings / Revenue 2.73% 3.86% 5.13%
Basic Earnings Per Share $1.21 $0.35
Diluted Earnings Per Share $1.192M $0.35 $2.287M
COMMON SHARES
Basic Shares Outstanding 107.9M shares 107.8M shares 107.1M shares
Diluted Shares Outstanding 109.9M shares 108.8M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.208B $1.351B $2.364B
YoY Change -47.29% -38.42% -3.35%
Cash & Equivalents $1.208B $1.351B $2.364B
Short-Term Investments
Other Short-Term Assets $1.566B $1.468B $1.557B
YoY Change 4.75% 5.76% 3.59%
Inventory $394.0M $387.0M $384.0M
Prepaid Expenses $358.0M $349.0M $252.0M
Receivables $2.826B $2.840B $2.770B
Other Receivables $4.000M $18.00M $0.00
Total Short-Term Assets $5.998B $6.064B $7.075B
YoY Change -13.14% -18.24% -1.01%
LONG-TERM ASSETS
Property, Plant & Equipment $6.291B $6.259B $6.427B
YoY Change 2.09% 1.51% -3.96%
Goodwill $9.979B $9.479B $9.261B
YoY Change 15.2% 9.47% 5.14%
Intangibles $1.441B $1.462B $1.497B
YoY Change -2.64% -3.94% -6.44%
Long-Term Investments $3.312B $3.297B $1.806B
YoY Change 29.17% 30.57% 76.37%
Other Assets $55.00M $60.00M $65.00M
YoY Change -60.71% -78.26% -80.0%
Total Long-Term Assets $21.08B $20.56B $20.50B
YoY Change 10.89% 7.36% 2.73%
TOTAL ASSETS
Total Short-Term Assets $5.998B $6.064B $7.075B
Total Long-Term Assets $21.08B $20.56B $20.50B
Total Assets $27.08B $26.62B $27.58B
YoY Change 4.49% 0.21% 1.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.240B $1.083B $1.300B
YoY Change 12.73% -0.09% 7.71%
Accrued Expenses $1.030B $1.032B $1.099B
YoY Change -22.73% -12.1% -7.65%
Deferred Revenue $111.0M $474.0M $959.0M
YoY Change -90.89% -55.07% 45.52%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $131.0M $125.0M $135.0M
YoY Change 4.8% -1.57% -6.9%
Total Short-Term Liabilities $4.276B $4.368B $5.109B
YoY Change -20.51% -13.86% 5.41%
LONG-TERM LIABILITIES
Long-Term Debt $14.96B $14.95B $15.51B
YoY Change 6.8% -0.95% -0.4%
Other Long-Term Liabilities $3.028B $1.824B $1.439B
YoY Change 90.2% 15.52% -11.01%
Total Long-Term Liabilities $17.99B $1.824B $1.439B
YoY Change 1030.03% 15.52% -11.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.276B $4.368B $5.109B
Total Long-Term Liabilities $17.99B $1.824B $1.439B
Total Liabilities $25.84B $22.51B $23.32B
YoY Change 16.24% -3.65% -3.7%
SHAREHOLDERS EQUITY
Retained Earnings -$905.0M -$1.036B -$1.214B
YoY Change -38.14% -45.82% -42.95%
Common Stock $8.000M $8.000M $8.000M
YoY Change 0.0% 0.0% 14.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.235B $1.087B $1.028B
YoY Change
Total Liabilities & Shareholders Equity $27.08B $26.62B $27.58B
YoY Change 4.49% 0.21% 1.75%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $131.0M $179.0M $249.0M
YoY Change -77.34% -30.35% -54.4%
Depreciation, Depletion And Amortization $209.0M $216.0M $201.0M
YoY Change 0.0% -2.26% -13.73%
Cash From Operating Activities $315.0M $119.0M $357.0M
YoY Change -27.08% -51.43% -19.96%
INVESTING ACTIVITIES
Capital Expenditures -$165.0M $152.0M -$304.0M
YoY Change -248.65% 24.59% 83.13%
Acquisitions
YoY Change
Other Investing Activities -$137.0M $12.00M -$1.212B
YoY Change -112.36% -83.33% 16.99%
Cash From Investing Activities -$302.0M -$140.0M -$1.516B
YoY Change -130.29% 180.0% 26.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -156.0M -33.00M 1.231B
YoY Change -88.28% -76.76% -1356.12%
NET CHANGE
Cash From Operating Activities 315.0M 119.0M 357.0M
Cash From Investing Activities -302.0M -140.0M -1.516B
Cash From Financing Activities -156.0M -33.00M 1.231B
Net Change In Cash -143.0M -54.00M 72.00M
YoY Change -245.92% -201.89% -108.43%
FREE CASH FLOW
Cash From Operating Activities $315.0M $119.0M $357.0M
Capital Expenditures -$165.0M $152.0M -$304.0M
Free Cash Flow $480.0M -$33.00M $661.0M
YoY Change 49.53% -126.83% 8.01%

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CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
152000000 usd
CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
122000000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
307000000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
243000000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4638000000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4954000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9383000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9735000000 usd
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
54000000 usd
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
221000000 usd
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
54000000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
100000000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
96000000 usd
CY2022Q2 thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
843000000 usd
CY2021Q2 thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
834000000 usd
thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
1731000000 usd
thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
1611000000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
216000000 usd
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
221000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
419000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
445000000 usd
CY2022Q2 thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
843000000 usd
CY2021Q2 thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
834000000 usd
thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
1731000000 usd
thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
1611000000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
216000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
419000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
445000000 usd
CY2022Q2 thc Restructuring Settlement Impairment Provisions And Acquisition Cost
RestructuringSettlementImpairmentProvisionsAndAcquisitionCost
57000000 usd
CY2021Q2 thc Restructuring Settlement Impairment Provisions And Acquisition Cost
RestructuringSettlementImpairmentProvisionsAndAcquisitionCost
20000000 usd
thc Restructuring Settlement Impairment Provisions And Acquisition Cost
RestructuringSettlementImpairmentProvisionsAndAcquisitionCost
73000000 usd
thc Restructuring Settlement Impairment Provisions And Acquisition Cost
RestructuringSettlementImpairmentProvisionsAndAcquisitionCost
40000000 usd
CY2022Q2 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-18000000 usd
CY2021Q2 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-22000000 usd
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-38000000 usd
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-35000000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
222000000 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
235000000 usd
us-gaap Interest Expense
InterestExpense
449000000 usd
us-gaap Interest Expense
InterestExpense
475000000 usd
CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-66000000 usd
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-31000000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-109000000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-54000000 usd
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 usd
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9000000 usd
CY2022Q2 thc Net Gains Losses On Sale Consolidation And Deconsolidation Of Facilities
NetGainsLossesOnSaleConsolidationAndDeconsolidationOfFacilities
1000000 usd
CY2021Q2 thc Net Gains Losses On Sale Consolidation And Deconsolidation Of Facilities
NetGainsLossesOnSaleConsolidationAndDeconsolidationOfFacilities
15000000 usd
thc Net Gains Losses On Sale Consolidation And Deconsolidation Of Facilities
NetGainsLossesOnSaleConsolidationAndDeconsolidationOfFacilities
0 usd
thc Net Gains Losses On Sale Consolidation And Deconsolidation Of Facilities
NetGainsLossesOnSaleConsolidationAndDeconsolidationOfFacilities
15000000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
265000000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
319000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
643000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
586000000 usd

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