2023 Q4 Form 10-Q Financial Statement

#000111316923000044 Filed on October 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $1.642B $1.671B
YoY Change 7.73% 5.19%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.155B $964.1M
YoY Change 11.43% 4.39%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.20M $63.70M
YoY Change 22.61% -41.29%
% of Gross Profit
Operating Expenses $1.223B $1.089B
YoY Change 10.76% 7.48%
Operating Profit $581.3M
YoY Change 1.17%
Interest Expense $260.7M $5.600M
YoY Change 85.16% -106.73%
% of Operating Profit 0.96%
Other Income/Expense, Net -$1.000M $2.800M
YoY Change -80.39% -103.38%
Pretax Income $646.9M $584.1M
YoY Change 66.38% 18.77%
Income Tax $173.3M $144.9M
% Of Pretax Income 26.79% 24.81%
Net Earnings $425.9M $453.2M
YoY Change 64.12% 17.9%
Net Earnings / Revenue 25.94% 27.13%
Basic Earnings Per Share $1.98
Diluted Earnings Per Share $1.90 $1.97
COMMON SHARES
Basic Shares Outstanding 223.5M shares 224.3M shares
Diluted Shares Outstanding 224.8M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.067B $2.579B
YoY Change 17.71% 8.99%
Cash & Equivalents $2.067B $2.579B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $807.9M $752.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.875B $3.331B
YoY Change 14.78% 7.19%
LONG-TERM ASSETS
Property, Plant & Equipment $1.048B $799.1M
YoY Change 1.22% 6.15%
Goodwill $2.643B $2.643B
YoY Change 0.0% -0.36%
Intangibles $507.3M $542.4M
YoY Change -19.45% -34.81%
Long-Term Investments $4.514B $4.282B
YoY Change 8.97% 13.75%
Other Assets
YoY Change
Total Long-Term Assets $9.404B $9.226B
YoY Change 2.9% 3.83%
TOTAL ASSETS
Total Short-Term Assets $2.875B $3.331B
Total Long-Term Assets $9.404B $9.226B
Total Assets $12.28B $12.56B
YoY Change 5.46% 4.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $320.1M $299.0M
YoY Change -21.29% -21.89%
Accrued Expenses $549.3M $1.044B
YoY Change -1.49% 2.24%
Deferred Revenue
YoY Change
Short-Term Debt $89.40M $96.00M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.025B $1.481B
YoY Change 1.46% 2.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.988B $893.0M
YoY Change 1.59% 4.36%
Total Long-Term Liabilities $1.988B $893.0M
YoY Change 1.59% 4.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.025B $1.481B
Total Long-Term Liabilities $1.988B $893.0M
Total Liabilities $2.774B $2.375B
YoY Change -1.07% 3.36%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $476.5M $526.7M
YoY Change -1.3% -3.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.505B $9.400B
YoY Change
Total Liabilities & Shareholders Equity $12.28B $12.56B
YoY Change 5.46% 4.7%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $425.9M $453.2M
YoY Change 64.12% 17.9%
Depreciation, Depletion And Amortization $73.20M $63.70M
YoY Change 22.61% -41.29%
Cash From Operating Activities -$157.4M $470.0M
YoY Change 16.42% -38.77%
INVESTING ACTIVITIES
Capital Expenditures $81.90M $93.60M
YoY Change 35.6% -272.06%
Acquisitions
YoY Change
Other Investing Activities -$135.9M $267.6M
YoY Change -253.73% 2424.53%
Cash From Investing Activities $90.10M $174.0M
YoY Change 221.79% -497.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -461.4M -297.2M
YoY Change 0.26% -38.81%
NET CHANGE
Cash From Operating Activities -157.4M 470.0M
Cash From Investing Activities 90.10M 174.0M
Cash From Financing Activities -461.4M -297.2M
Net Change In Cash -528.7M 346.8M
YoY Change -6.82% 45.65%
FREE CASH FLOW
Cash From Operating Activities -$157.4M $470.0M
Capital Expenditures $81.90M $93.60M
Free Cash Flow -$239.3M $376.4M
YoY Change 22.34% -54.21%

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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
75.50
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
142.37
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
110.07
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
108.48
trow Sharebased Compensation Arrangement By Sharebased Payment Award Nonvested Dividend Equivalents Granted To Non Employee Directors Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardNonvestedDividendEquivalentsGrantedToNonEmployeeDirectorsWeightedAverageGrantDateFairValue
110.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
140.97
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
142.43
CY2023Q3 trow Employee Service Sharebased Compensation Nonvested Awards Compensation Cost To Be Recognized Quarter Four Of Fiscal Year
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedQuarterFourOfFiscalYear
51000000.0 usd
CY2023Q3 trow Employee Service Sharebased Compensation Nonvested Awards Compensation Cost To Be Recognized Next Fiscal Year
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostToBeRecognizedNextFiscalYear
122500000 usd
CY2023Q3 trow Employee Service Share Based Compensation Nonvested Awards Compensation Cost To Be Recognized From Second Fiscal Year To Vesting
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostToBeRecognizedFromSecondFiscalYearToVesting
97100000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
270600000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-3900000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
7700000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
453200000 usd
CY2023Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
10600000 usd
CY2023Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
10600000 usd
CY2022Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
9200000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
442600000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
442600000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
375200000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
375200000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1262300000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
224100000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
224800000 shares

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