2023 Q3 Form 10-Q Financial Statement

#000007031823000041 Filed on July 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $5.066B $5.082B
YoY Change 5.52% 9.57%
Cost Of Revenue $877.0M $891.0M
YoY Change 7.34% 9.86%
Gross Profit $4.189B $4.191B
YoY Change 5.15% 9.51%
Gross Profit Margin 82.69% 82.47%
Selling, General & Admin $2.288B $2.285B
YoY Change 2.6% 7.48%
% of Gross Profit 54.62% 54.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $224.0M $213.0M
YoY Change 7.18% -1.39%
% of Gross Profit 5.35% 5.08%
Operating Expenses $3.532B $3.524B
YoY Change 2.17% 5.26%
Operating Profit $568.0M $667.0M
YoY Change 7.78% 20.61%
Interest Expense $227.0M -$172.0M
YoY Change -232.75% -177.48%
% of Operating Profit 39.96% -25.79%
Other Income/Expense, Net $4.000M $6.000M
YoY Change -33.33%
Pretax Income $345.0M $373.0M
YoY Change -9.21% 40.75%
Income Tax $79.00M $80.00M
% Of Pretax Income 22.9% 21.45%
Net Earnings $266.0M $123.0M
YoY Change 103.05% -31.28%
Net Earnings / Revenue 5.25% 2.42%
Basic Earnings Per Share $0.99 $1.21
Diluted Earnings Per Share $0.94 $1.17
COMMON SHARES
Basic Shares Outstanding 101.5M shares 101.9M shares
Diluted Shares Outstanding 104.4M shares 104.8M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.054B $934.0M
YoY Change -12.75% -30.87%
Cash & Equivalents $1.054B $934.0M
Short-Term Investments
Other Short-Term Assets $1.855B $1.139B
YoY Change 18.45% -22.41%
Inventory $413.0M $404.0M
Prepaid Expenses $392.0M $399.0M
Receivables $2.897B $3.100B
Other Receivables $534.0M $418.0M
Total Short-Term Assets $6.359B $5.995B
YoY Change 6.02% -1.14%
LONG-TERM ASSETS
Property, Plant & Equipment $6.260B $6.268B
YoY Change -0.49% 0.14%
Goodwill $10.42B $10.35B
YoY Change 4.37% 9.19%
Intangibles $1.400B $1.406B
YoY Change -2.85% -3.83%
Long-Term Investments $3.152B $3.130B
YoY Change -4.83% -5.07%
Other Assets $4.000M $8.000M
YoY Change -92.73% -86.67%
Total Long-Term Assets $21.23B $21.16B
YoY Change 0.73% 2.94%
TOTAL ASSETS
Total Short-Term Assets $6.359B $5.995B
Total Long-Term Assets $21.23B $21.16B
Total Assets $27.59B $27.16B
YoY Change 1.9% 2.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.202B $1.246B
YoY Change -3.06% 15.05%
Accrued Expenses $1.060B $917.0M
YoY Change 2.91% -11.14%
Deferred Revenue $86.00M $76.00M
YoY Change -22.52% -83.97%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $141.0M $141.0M
YoY Change 7.63% 12.8%
Total Short-Term Liabilities $4.432B $4.152B
YoY Change 3.65% -4.95%
LONG-TERM LIABILITIES
Long-Term Debt $14.90B $14.91B
YoY Change -0.41% -0.27%
Other Long-Term Liabilities $1.684B $2.854B
YoY Change -44.39% 56.47%
Total Long-Term Liabilities $1.684B $17.76B
YoY Change -90.64% 873.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.432B $4.152B
Total Long-Term Liabilities $1.684B $17.76B
Total Liabilities $22.41B $25.81B
YoY Change -13.28% 14.68%
SHAREHOLDERS EQUITY
Retained Earnings -$436.0M -$537.0M
YoY Change -51.82% -48.17%
Common Stock $8.000M $8.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.464B $1.343B
YoY Change
Total Liabilities & Shareholders Equity $27.59B $27.16B
YoY Change 1.9% 2.01%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $266.0M $123.0M
YoY Change 103.05% -31.28%
Depreciation, Depletion And Amortization $224.0M $213.0M
YoY Change 7.18% -1.39%
Cash From Operating Activities $503.0M $598.0M
YoY Change 59.68% 402.52%
INVESTING ACTIVITIES
Capital Expenditures $176.0M $132.0M
YoY Change -206.67% -13.16%
Acquisitions
YoY Change
Other Investing Activities $7.000M -$49.00M
YoY Change -105.11% -508.33%
Cash From Investing Activities -$169.0M -$181.0M
YoY Change -44.04% 29.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -214.0M -249.0M
YoY Change 37.18% 654.55%
NET CHANGE
Cash From Operating Activities 503.0M 598.0M
Cash From Investing Activities -169.0M -181.0M
Cash From Financing Activities -214.0M -249.0M
Net Change In Cash 120.0M 168.0M
YoY Change -183.92% -411.11%
FREE CASH FLOW
Cash From Operating Activities $503.0M $598.0M
Capital Expenditures $176.0M $132.0M
Free Cash Flow $327.0M $466.0M
YoY Change -31.88% -1512.12%

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us-gaap Dilutive Securities
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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thc Effect Of Dilutive Securities Per Share Amount
EffectOfDilutiveSecuritiesPerShareAmount
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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IncomeLossFromContinuingOperationsPerBasicShare
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us-gaap Dilutive Securities
DilutiveSecurities
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thc Effect Of Dilutive Securities Per Share Amount
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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IncomeLossFromContinuingOperationsPerDilutedShare
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BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
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us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
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thc Business Combination Acquisition Related Transaction Costs
BusinessCombinationAcquisitionRelatedTransactionCosts
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BusinessCombinationAcquisitionRelatedTransactionCosts
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us-gaap Goodwill Purchase Accounting Adjustments
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CY2023Q2 us-gaap Assets
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CY2022Q4 us-gaap Assets
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CY2023Q2 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
367000000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q2 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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CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
54000000 usd
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
104000000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
100000000 usd
CY2023Q2 thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
843000000 usd
CY2022Q2 thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
843000000 usd
thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
1675000000 usd
thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
1731000000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
213000000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
216000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
430000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
419000000 usd
CY2023Q2 thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
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843000000 usd
CY2022Q2 thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
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thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
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thc Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
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CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
213000000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
216000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2023Q2 thc Restructuring Settlement Impairment Provisions And Acquisition Cost
RestructuringSettlementImpairmentProvisionsAndAcquisitionCost
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CY2022Q2 thc Restructuring Settlement Impairment Provisions And Acquisition Cost
RestructuringSettlementImpairmentProvisionsAndAcquisitionCost
57000000 usd
thc Restructuring Settlement Impairment Provisions And Acquisition Cost
RestructuringSettlementImpairmentProvisionsAndAcquisitionCost
37000000 usd
thc Restructuring Settlement Impairment Provisions And Acquisition Cost
RestructuringSettlementImpairmentProvisionsAndAcquisitionCost
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CY2023Q2 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
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GainLossRelatedToLitigationSettlement
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us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
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us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
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CY2023Q2 us-gaap Interest Expense
InterestExpense
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CY2022Q2 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
447000000 usd
us-gaap Interest Expense
InterestExpense
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CY2023Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 usd
CY2023Q2 thc Net Gains Losses On Sale Consolidation And Deconsolidation Of Facilities
NetGainsLossesOnSaleConsolidationAndDeconsolidationOfFacilities
0 usd
CY2022Q2 thc Net Gains Losses On Sale Consolidation And Deconsolidation Of Facilities
NetGainsLossesOnSaleConsolidationAndDeconsolidationOfFacilities
1000000 usd
thc Net Gains Losses On Sale Consolidation And Deconsolidation Of Facilities
NetGainsLossesOnSaleConsolidationAndDeconsolidationOfFacilities
13000000 usd
thc Net Gains Losses On Sale Consolidation And Deconsolidation Of Facilities
NetGainsLossesOnSaleConsolidationAndDeconsolidationOfFacilities
0 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
373000000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
265000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
753000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
643000000 usd
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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