2024 Q3 Form 10-Q Financial Statement

#000146625824000233 Filed on July 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $5.441B $5.307B
YoY Change 11.43% 12.81%
Cost Of Revenue $3.467B $3.372B
YoY Change 7.5% 8.06%
Gross Profit $1.974B $1.936B
YoY Change 19.08% 22.16%
Gross Profit Margin 36.29% 36.47%
Selling, General & Admin $949.8M $901.3M
YoY Change 19.64% 28.94%
% of Gross Profit 48.11% 46.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $95.00M $96.20M
YoY Change 3.26% 8.82%
% of Gross Profit 4.81% 4.97%
Operating Expenses $949.8M $901.3M
YoY Change 19.64% 28.94%
Operating Profit $1.025B $1.034B
YoY Change 18.56% 16.81%
Interest Expense $63.00M $57.50M
YoY Change 8.81% -198.29%
% of Operating Profit 6.15% 5.56%
Other Income/Expense, Net $6.300M -$4.100M
YoY Change -163.0% -93.22%
Pretax Income $967.9M $972.6M
YoY Change 21.55% 26.91%
Income Tax $181.1M $205.8M
% Of Pretax Income 18.71% 21.16%
Net Earnings $772.0M $755.3M
YoY Change 23.26% 28.85%
Net Earnings / Revenue 14.19% 14.23%
Basic Earnings Per Share $3.42 $3.33
Diluted Earnings Per Share $3.39 $3.30
COMMON SHARES
Basic Shares Outstanding 225.7M shares 226.4M shares
Diluted Shares Outstanding 228.0M shares 228.7M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.928B $1.326B
YoY Change 100.79% 99.79%
Cash & Equivalents $1.470B $874.6M
Short-Term Investments $457.6M $451.2M
Other Short-Term Assets $745.3M $751.4M
YoY Change 72.28% 64.85%
Inventory $2.033B $2.204B
Prepaid Expenses
Receivables $3.856B $3.925B
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.100B $7.714B
YoY Change 20.41% 15.57%
LONG-TERM ASSETS
Property, Plant & Equipment $1.907B $1.828B
YoY Change 13.23% 10.46%
Goodwill $6.214B $6.058B
YoY Change 8.66% 5.4%
Intangibles $3.365B $3.352B
YoY Change 0.81% -1.1%
Long-Term Investments
YoY Change
Other Assets $1.319B $1.248B
YoY Change -8.16% -13.35%
Total Long-Term Assets $12.80B $12.49B
YoY Change 5.16% 2.07%
TOTAL ASSETS
Total Short-Term Assets $8.100B $7.714B
Total Long-Term Assets $12.80B $12.49B
Total Assets $20.90B $20.20B
YoY Change 10.58% 6.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.195B $2.180B
YoY Change 4.85% 0.15%
Accrued Expenses $2.864B $2.965B
YoY Change 26.82% 3.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $952.2M $952.0M
YoY Change 173.62% 173.33%
Total Short-Term Liabilities $6.629B $6.592B
YoY Change 27.13% 17.86%
LONG-TERM LIABILITIES
Long-Term Debt $4.317B $4.316B
YoY Change -3.56% -3.58%
Other Long-Term Liabilities $1.090B $1.034B
YoY Change -8.52% -44.6%
Total Long-Term Liabilities $5.407B $5.350B
YoY Change -4.6% -15.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.629B $6.592B
Total Long-Term Liabilities $5.407B $5.350B
Total Liabilities $13.29B $13.23B
YoY Change 8.9% 4.62%
SHAREHOLDERS EQUITY
Retained Earnings $9.698B $9.195B
YoY Change 8.1% 8.87%
Common Stock $249.7M $250.4M
YoY Change -1.03% -0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.719B $1.719B
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $7.592B $6.947B
YoY Change
Total Liabilities & Shareholders Equity $20.90B $20.20B
YoY Change 10.58% 6.84%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $772.0M $755.3M
YoY Change 23.26% 28.85%
Depreciation, Depletion And Amortization $95.00M $96.20M
YoY Change 3.26% 8.82%
Cash From Operating Activities $1.303B $695.9M
YoY Change 41.23% 32.81%
INVESTING ACTIVITIES
Capital Expenditures $88.30M $72.90M
YoY Change 6.13% 28.12%
Acquisitions $174.5M
YoY Change
Other Investing Activities -$171.7M -$472.0M
YoY Change 2810.17% -5.43%
Cash From Investing Activities -$260.0M -$544.9M
YoY Change 191.81% -2.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -485.9M -117.6M
YoY Change -5.78% -615.79%
NET CHANGE
Cash From Operating Activities 1.303B 695.9M
Cash From Investing Activities -260.0M -544.9M
Cash From Financing Activities -485.9M -117.6M
Net Change In Cash 556.7M 33.40M
YoY Change 75.34% -463.04%
FREE CASH FLOW
Cash From Operating Activities $1.303B $695.9M
Capital Expenditures $88.30M $72.90M
Free Cash Flow $1.214B $623.0M
YoY Change 44.71% 33.38%

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CY2024Q2 us-gaap Interest Income Other
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CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2024Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
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DefinedBenefitPlanNetPeriodicBenefitCost
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DefinedBenefitPlanNetPeriodicBenefitCost
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DefinedBenefitPlanNetPeriodicBenefitCost
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CY2024Q2 us-gaap Other Nonoperating Income Expense
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OtherNonoperatingIncomeExpense
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226600000 shares
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WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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tt Segment Adjusted Ebitda
SegmentAdjustedEBITDA
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tt Segment Adjusted Ebitda
SegmentAdjustedEBITDA
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CY2024Q2 tt Segment Adjusted Ebitda
SegmentAdjustedEBITDA
1204000000 usd
CY2023Q2 tt Segment Adjusted Ebitda
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995700000 usd
tt Segment Adjusted Ebitda
SegmentAdjustedEBITDA
1979100000 usd
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SegmentAdjustedEBITDA
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CY2024Q2 us-gaap Interest Expense
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57500000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
61600000 usd
us-gaap Interest Expense
InterestExpense
115500000 usd
us-gaap Interest Expense
InterestExpense
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CY2024Q2 us-gaap Depreciation Amortization And Accretion Net
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96200000 usd
CY2023Q2 us-gaap Depreciation Amortization And Accretion Net
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us-gaap Depreciation Amortization And Accretion Net
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187700000 usd
us-gaap Depreciation Amortization And Accretion Net
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168200000 usd
CY2024Q2 us-gaap Restructuring And Related Cost Incurred Cost
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800000 usd
CY2023Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1500000 usd
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
5500000 usd
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
7800000 usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2023Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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CY2024Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
0 usd
CY2023Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
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us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
0 usd
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EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
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CY2024Q2 tt Acquisition Inventory Step Up
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0 usd
CY2023Q2 tt Acquisition Inventory Step Up
AcquisitionInventoryStepUp
-2600000 usd
tt Acquisition Inventory Step Up
AcquisitionInventoryStepUp
0 usd
tt Acquisition Inventory Step Up
AcquisitionInventoryStepUp
-4700000 usd
CY2024Q2 tt Unallocatedcorporateexpense
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85800000 usd
CY2023Q2 tt Unallocatedcorporateexpense
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75000000.0 usd
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CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
766400000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1523300000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1156200000 usd
CY2020Q2 us-gaap Deconsolidation Gain Or Loss Amount
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24900000 usd
CY2020Q2 us-gaap Cash Divested From Deconsolidation
CashDivestedFromDeconsolidation
10800000 usd
CY2021Q3 us-gaap Bankruptcy Claims Amount Paid To Settle Claims
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545000000 usd
CY2021Q3 tt Qualified Settlement Fund
QualifiedSettlementFund
270000000 usd
CY2021Q3 tt Qualified Settlement Fund
QualifiedSettlementFund
270000000 usd
CY2021Q3 tt Charge To Increase Funding Liability
ChargeToIncreaseFundingLiability
21200000 usd
CY2022Q1 tt Qsf Funding
QSFFunding
270000000 usd
CY2024Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
47000000.0 usd
CY2023Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
47500000 usd
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
373900000 usd
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
84500000 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
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107400000 usd
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-4600000 usd
us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-1800000 usd
CY2024Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
390400000 usd
CY2024Q2 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
168900000 usd
CY2023Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
157600000 usd
CY2024Q2 us-gaap Extended Product Warranty Accrual Current
ExtendedProductWarrantyAccrualCurrent
131600000 usd
CY2023Q4 us-gaap Extended Product Warranty Accrual Current
ExtendedProductWarrantyAccrualCurrent
123800000 usd

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