2024 Q1 Form 10-K Financial Statement

#000010051724000027 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $12.54B $13.63B $53.72B
YoY Change 9.71% 9.89% 19.49%
Cost Of Revenue $5.159B $5.412B $21.06B
YoY Change -1.99% 4.0% 3.27%
Gross Profit $7.380B $8.214B $32.66B
YoY Change 19.71% 14.15% 32.96%
Gross Profit Margin 58.86% 60.28% 60.79%
Selling, General & Admin $4.412B $4.412B $16.76B
YoY Change 18.44% 28.48% 28.94%
% of Gross Profit 59.78% 53.71% 51.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $708.0M $684.0M $2.671B
YoY Change 8.09% 9.62% 8.75%
% of Gross Profit 9.59% 8.33% 8.18%
Operating Expenses $7.268B $7.169B $27.50B
YoY Change 17.34% 23.54% 24.51%
Operating Profit $112.0M $1.045B $5.160B
YoY Change -360.47% -24.98% 108.32%
Interest Expense -$253.0M -$250.0M -$920.0M
YoY Change -0.39% -3.47% -32.1%
% of Operating Profit -225.89% -23.92% -17.83%
Other Income/Expense, Net -$10.00M $23.00M $96.00M
YoY Change -95.31% 91.67% 1100.0%
Pretax Income -$164.0M $771.0M $3.387B
YoY Change -35.94% -31.77% 242.12%
Income Tax -$40.00M $171.0M $769.0M
% Of Pretax Income 22.18% 22.7%
Net Earnings -$124.0M $600.0M $2.618B
YoY Change -36.08% -28.83% 255.22%
Net Earnings / Revenue -0.99% 4.4% 4.87%
Basic Earnings Per Share -$0.38 $7.98
Diluted Earnings Per Share -$0.38 $1.81 $7.89
COMMON SHARES
Basic Shares Outstanding 328.0M shares 328.0M shares 327.8M shares
Diluted Shares Outstanding 328.3M shares 331.9M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.99B $14.39B $14.39B
YoY Change -18.44% -12.34% -12.34%
Cash & Equivalents $8.401B $6.058B $6.058B
Short-Term Investments $5.591B $8.330B $8.330B
Other Short-Term Assets $770.0M $640.0M $640.0M
YoY Change -19.79% -12.81% -12.81%
Inventory $1.675B $1.561B $1.561B
Prepaid Expenses
Receivables $2.259B $1.898B $1.898B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $18.70B $18.49B $18.49B
YoY Change -13.39% -7.83% -7.83%
LONG-TERM ASSETS
Property, Plant & Equipment $44.37B $43.73B $43.73B
YoY Change 11.31% 14.06% 14.06%
Goodwill $4.527B $4.527B
YoY Change 0.0% 0.0%
Intangibles $2.717B $2.725B
YoY Change -1.31% -1.34%
Long-Term Investments $1.353B $1.391B $1.391B
YoY Change 550.48% 1.31% 1.31%
Other Assets $244.0M $245.0M $245.0M
YoY Change -97.28% -18.6% -18.6%
Total Long-Term Assets $53.21B $52.62B $52.62B
YoY Change 8.96% 11.24% 11.24%
TOTAL ASSETS
Total Short-Term Assets $18.70B $18.49B $18.49B
Total Long-Term Assets $53.21B $52.62B $52.62B
Total Assets $71.90B $71.10B $71.10B
YoY Change 2.11% 5.56% 5.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.344B $3.835B $3.835B
YoY Change 12.6% 12.96% 12.96%
Accrued Expenses $2.685B $3.516B $3.516B
YoY Change 4.07% 38.86% 38.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.075B $4.190B $4.190B
YoY Change 27.11% 38.97% 38.97%
Total Short-Term Liabilities $24.76B $22.20B $22.20B
YoY Change 4.78% 11.06% 11.06%
LONG-TERM LIABILITIES
Long-Term Debt $23.14B $25.15B $25.15B
YoY Change -15.74% -11.44% -11.44%
Other Long-Term Liabilities $14.27B $13.84B $13.84B
YoY Change 929.44% 14.6% 14.6%
Total Long-Term Liabilities $37.41B $38.98B $38.98B
YoY Change 29.67% -3.67% -3.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.76B $22.20B $22.20B
Total Long-Term Liabilities $37.41B $38.98B $38.98B
Total Liabilities $62.71B $61.78B $61.78B
YoY Change 19.5% 2.18% 2.18%
SHAREHOLDERS EQUITY
Retained Earnings $3.664B $3.831B
YoY Change 259.22% 202.85%
Common Stock $8.977B $8.996B
YoY Change 0.53% 0.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.188B $9.324B $9.324B
YoY Change
Total Liabilities & Shareholders Equity $71.90B $71.10B $71.10B
YoY Change 2.11% 5.56% 5.56%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$124.0M $600.0M $2.618B
YoY Change -36.08% -28.83% 255.22%
Depreciation, Depletion And Amortization $708.0M $684.0M $2.671B
YoY Change 8.09% 9.62% 8.75%
Cash From Operating Activities $2.847B -$910.0M $6.911B
YoY Change -9.39% -178.58% 13.93%
INVESTING ACTIVITIES
Capital Expenditures $1.366B $2.066B $7.171B
YoY Change -25.88% -181.37% -248.81%
Acquisitions
YoY Change
Other Investing Activities $2.807B $1.323B $23.00M
YoY Change -46883.33% -171.59% -100.26%
Cash From Investing Activities $1.441B -$743.0M -$6.106B
YoY Change -173.22% -83.06% -55.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $5.031B $4.248B
YoY Change 513.54% 5.91%
Cash From Financing Activities -1.938B -123.0M -$1.892B
YoY Change 244.23% -85.97% -43.51%
NET CHANGE
Cash From Operating Activities 2.847B -910.0M $6.911B
Cash From Investing Activities 1.441B -743.0M -$6.106B
Cash From Financing Activities -1.938B -123.0M -$1.892B
Net Change In Cash 2.350B -1.776B -$1.087B
YoY Change 284.62% -56.75% -90.22%
FREE CASH FLOW
Cash From Operating Activities $2.847B -$910.0M $6.911B
Capital Expenditures $1.366B $2.066B $7.171B
Free Cash Flow $1.481B -$2.976B -$260.0M
YoY Change 14.01% -180.5% -102.39%

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CY2023Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
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UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
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LossContingencyLossInPeriod
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CY2023 ual Number Of Call Options To Purchase Regional Jet Aircraft
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CY2023 ual Labor Contract Ratification Bonus
LaborContractRatificationBonus
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CY2022 ual Labor Contract Ratification Bonus
LaborContractRatificationBonus
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CY2021 ual Labor Contract Ratification Bonus
LaborContractRatificationBonus
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CY2023 us-gaap Unusual Or Infrequent Item Gain Gross
UnusualOrInfrequentItemGainGross
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CY2021 us-gaap Unusual Or Infrequent Item Gain Gross
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CY2023 us-gaap Postemployment Benefits Period Expense
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CY2022 us-gaap Postemployment Benefits Period Expense
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CY2021 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
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CY2023 us-gaap Asset Impairment Charges
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CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2023 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
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GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
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CY2023 us-gaap Restructuring Settlement And Impairment Provisions
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CY2021 us-gaap Restructuring Settlement And Impairment Provisions
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CY2023 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
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CY2022 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
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CY2023 ual Debt Extinguishment And Modification Fees Non Operating
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CY2022 ual Debt Extinguishment And Modification Fees Non Operating
DebtExtinguishmentAndModificationFeesNonOperating
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CY2021 ual Debt Extinguishment And Modification Fees Non Operating
DebtExtinguishmentAndModificationFeesNonOperating
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CY2023 ual Defined Benefit Plan Net Periodic Benefit Cost Credit Gain Loss Due To Settlement Restructuring And Special And Contractual Termination Benefits
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CY2023 ual Special Charges And Losses On Financial Instruments Non Operating Before Tax
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IncomeTaxExpenseBenefitSpecialCharges
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IncomeTaxExpenseBenefitSpecialCharges
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CY2023 ual Special Items Net Of Income Tax Benefits
SpecialItemsNetOfIncomeTaxBenefits
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SpecialItemsNetOfIncomeTaxBenefits
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CY2021 ual Special Items Net Of Income Tax Benefits
SpecialItemsNetOfIncomeTaxBenefits
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CY2023 ual Labor Contract Ratification Bonus
LaborContractRatificationBonus
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CY2023 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
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CY2023 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
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CY2023 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
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CY2022 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
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LossContingencyLossInPeriod
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LossContingencyContractDisputes
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GainLossOnFinancialInstrumentsNonOperating
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CY2022 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
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CY2021 ual Proceeds From Government Assistance
ProceedsFromGovernmentAssistance
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CY2021 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
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CY2021 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
438000000 usd
CY2021Q4 ual Number Of Aircraft And Related Spare Engines Retired
NumberOfAircraftAndRelatedSpareEnginesRetired
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CY2021 ual Gain Loss On Net Charges
GainLossOnNetCharges
-119000000 usd
CY2021 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
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CY2021 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
50000000 usd
CY2023 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2023 dei Auditor Location
AuditorLocation
Chicago, Illinois
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023 dei Auditor Firm
AuditorFirmId
42

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